Research Methodology-FMG 3232

8/13/2019 Research Methodology-FMG 3232

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Introduction to Research

FMG 3232


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Research Methodology

A system of models, procedures and

techniques. This is the way

Guiding the researcher

Describing the various methods


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Definition of Research

Search for the knowledge

Advanced learners dictionary- carefulinvestigation specially through search for

new facts in any branch of knowledge

Redman and Morry systematized effort togain new knowledge


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Definition of Research (Cont)

Movement from the known to unknown

Cliford Woody defining problem,

formulating hypothesis, collecting,

organizing and evaluating data and reachingconclusion


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Motivation of Research

Desire to get a research degree along with

its consequential benefits; Desire to face the challenges in solving the

unsolved problems

Desire to get intellectual joy of doing somecreative work;

Desire to be of service to society;

Desire to get respectability.


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Aims of researchThe general aims of research are:

Observe and Describe

Predict

Determination of the Causes

Explain


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Objectives of Research

To gain familiarity with a phenomenon

To portray accurately the characteristics. To determine the frequency

To test the hypothesis of a casual

relationship.


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Significance of Research

Managers and administrators

Researchers and Academics Government agencies

Consultants

Students


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Characteristics of research

Purpose clearly defined

Research process detailed Research design thoroughly planned

Limitations frankly revealed

High ethical standards applied The analysis of data should be sufficiently

Findings presented unambiquously

Conclusion should be confined


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Qualities of good research

Systematic

Logical Empirical

replicable


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Types of research

1. Basic research:

Discovering the new knowledgeBenefits Society

2. Applied research:Solving the particular problem

Benefits Affected groups


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Deduction

Deduction is reasoning from the general to

the specific.

Deduction is important in scientific

research.

Theory Practice


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Induction

Begin from the specific and moves towards

the general

Practice Theory

There is no logical proof of induction:future cases may be different from those

you have seen


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Problems of Research

Uncontrollable variables

Human tendencies

Time and money

Lack of computerization

Insufficient interaction between

university research departments andbusiness establishments

Lack of confidence on the part of

business units to give information


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Significance /Relevance for

management

Why should managers study research Methodology?

Business research is a systematic enquiry that

provides information to guide managerialdecisions.

It is a process of planning, acquiring, analysing

and disseminating relevant data and insights to

decision makers, leading to appropriate actions,

which, in turn, maximise business performance.


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management

Significant in solving various operational

and planning problems of business and

industry

Market research (investigation of the

structure and development of market)

Important for formulating policies forpurchase, production and sales


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management

Motivational research studies consumersmotives in their purchase behavior

(Consumer behavior) Operations research refers to the application

of mathematical, logical and analyticaltechniques to the solution of businessproblems of optimization of resource use,cost minimization and profit maximization.


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management

Managers need research to measure and

compare the ROI on various strategies.

Helps in a better understanding of

employees, stockholders and customers


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The Scientific Method

1. Develop the problem

2. Develop a theoretical solution to the

problem3. Formulate the hypothesis or question

4. Formulate the research plan (methods)

5. Collect and analyze the data6. Interpret the results and form conclusions

7. Refine the theory

Research Methodology-FMG 3232

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