Business research methods (basic concepts )
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Transcript of Business research methods (basic concepts )
Research begins with a problem in the form of a question in the mind of the researcher.
Research demands the identification of a problem, stated in clear terms.
Research requires a plan.
Research deals with the main problem through appropriate sub problem .
Research seeks direction through appropriate hypothesis and is based upon obvious assumptions.
Research deals with facts and their meaning.
Research is circular.
Basic Research
Applied Research
Deductive research approach –
Works from the more general to the more specific.
Sometimes it is called “Top down approach”
Conclusion follows logically from premises (available facts)
Theory
Hypothesis
Observation
Confirmation
Water fall
Inductive reasoning works the other way, moving from specific observations to broader term / general.
Sometimes we call this ‘bottom up approach’
Conclusion is likely based on premises
Involve a degree of uncertainty
Theory
Tentative hypothesis
Pattern
Observation
Hill climbing
Designed to solve the practical problem of the world.
The goal of applied research is to improve the human condition.
This research is generally conducted on large scale basis, it is expensive.
It is often conducted with the support of some financing agency like government, public corporation and world bank etc.
It is collecting, analyzing and interpreting data by observing what people do and say.
Much more subjective and use different method of collecting information.
The Qualitative method investigates the WHYand HOW of decision making not just WHAT WHERE and WHEN
Measure the quantity or amount and compare it with past records and tries to project for future.
Quantitative research involve the use of structured questions, where the response question have been pre-determined and large number of respondent is involved.
A hypothesis (H) is an unproven statement about a factor or
proposition phenomenon that is of interest to the researcher.
When a manager makes a statement or an assumption that
he/she believes to be true and wants research to determine if
there is support for that statement, we call this statement a hypothesis.
Guides the direction of the study
Identifies facts that are relevant
Suggests which form of research design is
appropriate
Provides a framework for organizing the
conclusions that result
No relationship between two measured phenomena. Never proven either rejected or fail.
Alternative Hypothesis (H1)
The hypothesis to be accepted if the null hypothesis is rejected.