Module 1

Why are we interested in research? What is research? Characteristics Research Types Research Designs

“All progress is born of inquiry. Doubt is often better than overconfidence, for it

leads to inquiry and inquiry leads to invention”

- Hudson Maxim

Business – Line of Work (a particular trade or profession), Commercial Organization, Activity, Level, Practices.

Research – Organized study: methodical investigation into a subject in order to discover facts, to establish or revise a theory, or to develop a plan of action based on the facts discovered.

Nature of Research’s Result – Innovation, Discovery and Re-search.

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Method – way of doing something: especially according to a plan, theory and technique.

Research Method – refer to the methods the researchers use in performing research operations.

Research Methodology – logic behind the methods along with explanation of particular method’s use in a specific research study so that the results being evaluated by researcher and others.

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Desire to get research degree along with its consequential benefits.

Desire to face challenge in solving the unsolved problems.

Desire to get intellectual joy of doing some creative work.

Desire to be of service to society. Desire to get respectability.

Science…◦ a body of established knowledge◦ the observation, identification, investigation, and

theoretical explanation of natural phenomenon

usually the ultimate goal is theory generation and verification

Scientific Method…◦ involves the principles and processes regarded as

characteristic of or necessary for scientific investigation

◦ process or approach to generating valid and trustworthy knowledge

Research…◦ the application of the scientific method◦ a systematic process of collecting and logically

analyzing information (data) Research Methods (Methodology)…

◦ the ways one collects and analyzes data◦ methods developed for acquiring trustworthy

knowledge via reliable and valid procedures

The word research is composed of two words:

re and search Prefix re means- again, anew or over again. Latter verb means – to examine closely and

carefully, to test and try, or to probe. Together they form a noun describing a

careful, systematic, patient study and investigation in some field of knowledge, undertaken to establish facts or principles.

Business research is defined as the systematic and objective process of generating information for aid in making business decisions.

Business research is an unbiased, structured and sequential method of enquiry, directed towards a clear implicit or explicit business objective. This enquiry might lead to validating existing systems or methods and arriving at new theories and models.

Research information is neither intuitive nor haphazardly gathered.

Literally, research (re-search) -“search again”

Business research must be objective Detached and impersonal rather than

biased It facilitates the managerial decision

process for all aspects of a business.

Unbiased/Objective: The researcher makes deliberate efforts to eliminate personal preference resisting the temptation to seek only such data that supports his/her hypothesis.

Systematic - because there is a definite set of procedures and steps which you will follow. There are certain things in the research process which are always done in order to get the most accurate results.

Verifiable: Research methods and findings are presented to the professional community for other researchers to analyze, confirm or reject them.

Organized -in that there is a structure or method in going about doing research. It is a planned procedure, not a spontaneous one. It is focused and limited to a specific scope.

Recognition of information needs. Effective decision making Systematic and objective Exude/disseminate information Analysis of information Recommendations for action Collection of information Helpful to managers.

Research helps in quick and objective business decision making.

Solving Business Problems Identification of a new project, project

feasibility and project implementation. Research and Development (R & D) helps

discovery and invention. Developing new products or modifying the existing products, discovering new uses, new markets etc., is a continuous process in business.

Time constraints Availability of data Nature of the decision Benefits versus costs

Is sufficient time available before

a managerial decision

must be made?

Is the infor-mation already

on handinadequate for making

the decision?

Is the decision of considerable

strategicor tactical

importance?

Does the value of the research

informationexceed the cost of conducting

research?

ConductingBusinessResearch

Do Not Conduct Business Research

Time ConstraintsAvailability of

Data Nature of the DecisionBenefits vs. Costs

Yes YesYesYes

No No No No

Potential Value of a Business Research Effort Should Exceed Its Estimated Costs

Value•Decreased certainty•Increased likelihood of a correct decision•Improved business performance and resulting higher profits

Costs•Research expenditures•Delay of business decision and possible disclosure of information to rivals•Possible erroneous research results

General Business Conditions and Corporate Research

Financial and Accounting Research Management and Organizational Behavior

Research Sales and Marketing Research Information Systems Research Corporate Responsibility Research

Imagine you wanted to learn what the word ‘professional’ meant to arange of people.

Deductive Approach It is clear that you would want to have a clear theoretical

position prior to collection of data. You might therefore research the subject and discover a number of definitions of ‘professional’ term, for example, a number of professional associations. You could then test this definition on a range of people, using a questionnaire, structured interviews or group discussion.

You could carefully select a sample of people on the basis of age, gender, occupation etc.

The data gathered could then be collated and the results analysed and presented.

This approach offers researchers a relatively easy and systematic way of testing established ideas on a range of people.

Inductive Approach If you adopted this approach you might start by talking to a

range of people asking for their ideas and definitions of ‘professional’. From these discussions you could start to assemble the common elements and then start to compare these with definitions gained from professional associations.

The data gathered could then be collated and the results analysed and presented.

This approach might lead you to arrive at a new definition of the word – or it might not! This approach can be very time-consuming, but the reward might be in terms of arriving at a fresh way of looking at the subject.

Common classifications of research are:

--Basic v/s Applied research --Quantitative v/s Qualitative

research

Basic (aka fundamental or pure ) research is driven by a scientist's curiosity or interest in a scientific question.

The main motivation is to expand man's knowledge, not to create or invent something.

The purpose behind the study is wider and all encompassing.

The context is vast and time period flexible.

For example, basic science investigations probe for answers to questions such as:

• How did the universe begin?• What are protons, neutrons, and electrons composed of?

Applied research refers to scientific study and research that seeks to solve practical problems.

Applied research is used to find solutions to everyday problems, cure illness, and develop innovative technologies, rather than to acquire knowledge for knowledge's sake.

Examples of Applied Research Should McDonalds add Italian pasta dinners to its menu? Business research told McDonald’s it should not? Should Procter & Gamble add a high-priced home teeth

bleaching kit to its product line?• Improve agricultural crop production• Treat or cure a specific disease• Improve the energy efficiency of homes, offices, or modes of

transportation

For ex- you might need to study the impact of merger b/w two large business organizations on employee morale and subsequent turnover intention. This is direct and applied research.

In case the researcher wants to develop an broader model and framework to explain turnover intention. This is fundamental and basic research as it expands the body of knowledge.

Qualitative research is research dealing with phenomena that are difficult or impossible to quantify mathematically, such as beliefs, meanings, attributes, and symbols.

Qualitative researchers aim to gather an in-depth understanding of human behaviour and the reasons that govern such behaviour.

The qualitative method investigates the why and how of decision making, not just what, where, when.

 Advantages • It enables more complex aspects of a persons experience to be

studied• Fewer restriction or assumptions are placed on the data to be

collected. • Not everything can be quantified, or quantified easily,

Individuals can be studied in more depth• The participants are able to provide data in their own words

and in their own way.Disadvantages• It is more difficult to determine the validity and reliability of

linguistic data• “Data overload” – open-ended questions can sometimes

create lots of data, which can take along time to analyse!• Time consuming

Quantitative research refers to the systematic empirical investigation of any phenomena via statistical, mathematical or computational techniques. The objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to phenomena

 Advantages

• Quantitative research allows the researcher to measure and analyse data.

• The researcher is more objective about the findings of the research.

• Quantitative research can be used to test hypotheses in experiments because of its ability to measure data using statistics.

Disadvantages• The main disadvantage of quantitative research is the context

of the study or experiment is ignored. • Quantitative research does not study things in a natural setting

or discuss the meaning things have for different people. • A large sample of the population must be studied for more

accurate results

Thank you