Research is defined as a systematic investigation to discover and establish facts. It involves collecting data through scientific methods to solve problems and gain knowledge. Research has key characteristics such as being controlled, rigorous, systematic, and verifiable. There are different types of research methods including descriptive, analytical, quantitative, and qualitative research. Research methodology refers to the systematic approach used to conduct research, including defining the problem, reviewing literature, collecting and analyzing data, and reporting results. The goal of research is to add to the body of knowledge in a scientific field.
1. BUSINESS RESEARCH METHODS
What is research?
Process of collecting/gathering data and information by a scientific or logical procedure
that aims to solve a particular scientific problem.
An attempt to solve or gain a solution to a problem.
• Search for knowledge.
• Research is an art of scientific investigation.
• It is a voyage of discovery.
CHARACTERISTICS OF RESEARCH:
• Controlled
• Rigorous
• Systematic
• Valid and verifiable
• Empirical
• Descriptive Research
• Analytical Research
• Quantitative Research
• Qualitative Research
• Conceptual Research
• One Time Research
• Historical Research
Research Methods:- All those methods or techniques that are used for conduction of research.
It includes Those methods which are concerned with the collection of data.
It consists statistical techniques which are used for establishing relationships b/w data and
unknowns.
Methods which are used to evaluate the accuracy of the results obtained.
Research Methodology:-
It is a way to systematically solve the research problem.
It is a science of studying how research is done scientifically.
2. We study various steps that are adopted by researcher in studying his research problem
along with the logic behind them.
Criteria of a Good Research
An ideal research should have
(i) clearly defined purpose and common concepts;
(ii) procedures described in details for further advancement;
(iii) a complete frank report with no manipulations;
(iv) procedural design of research carefully planned as to yield results that are as objectives as
possible;
(v) limits and justification of data for adequate conclusions;
(vi) proper analysis of data, methods used, and proper checking for the validity and reliability of
data; and
Scientific Method
The scientific method is a body of techniques for investigating phenomena, acquiring new
knowledge, or correcting and integrating previous knowledge.
Characteristics
1. objectivity;
2. accuracy of measurement
3. self criticism.
4. Verifiable
5. Definite
6. Predictable
7. General
8. Modifiable
Research applications in marketing
Market & consumer analysis
Product research
Pricing research
Promotional research
Place research
Research applications in finance
Asset pricing, capital markets and corporate finance
Financial derivatives and credit risk modeling research
Market-based accounting research
Auditing and accountability
Research applications in human resources
Training & development studies
Selection and staffing studies
Performance appraisal–design and evaluation
3. Organization planning and development
Research applications in
production & operations management
Operation planning and design
Demand forecasting and demand estimation
Process planning
Project management and maintenance effectiveness studies
Technique Involved in Defining a Research Problem
It comprises of:
(i) Statement of the problem in a general way
(ii) Understanding and exploring the nature of the problem
(iii) Surveying the available literature.
(iv) Developing the ideas through discussion.
(v) Rephrasing the research problem.
What is a research proposal?
A research proposal sets out the broad topic you would like to research (substance), what the
research would set out to achieve (aims and objectives), how you would go about researching
it (methodology), how you would undertake it within the time available (outline plan) and
what the results might be in relation to knowledge and understanding in the subject (potential
outcomes).
Elements of a Research Proposal
Title
Abstract
Table of Content
Section A: Introduction
Section B: Review of the Related Literature
Section C: Methodology
Section D: Ethical/ Legal Consideration
Section E: Time Schedule
References
• A HYPOTHESIS is a prediction of a relationship between one or more factors
and the problem under study that can be tested.
• A hypothesis represents a declarative statement of the relations between two or
more variables.
Introduction
Background of the study
Statement of the problem
Research Objectives
Research questions
Significance of the study
4. Scope of the study
Delimitations of the study
Assumptions of the study
Definitions of key terms
Review of the Related Literature
It “frames” the problem earlier identified.
It shares with the reader the results of other studies that are closely related to
the study being reported.
Methodology
Design of the study
Population and sampling
Research Instruments
Pilot study
Instrument Reliability and Validity
Method of Data Collection
Plan of Data Analysis
Ethical/ Legal Consideration
Human research participants need:
Informed consent
Voluntary participation
Restricted use of deception
Debriefing
Confidentiality
Time Schedule
• This section indicates exactly what will be done, the sequence of the various activities, and
the products of deliverables that will be prepared.
• In preparing grant proposals, there is more freedom to define the tasks. In both cases, it is
important that the proposed task structure includes all of the activities necessary for
completing the project.
• Planning a viable schedule for carrying out the tasks is often as important as developing a
comprehensive list of tasks.
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