Research Methodology - Module I mba 1st year
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Transcript of Research Methodology - Module I mba 1st year
Research Methodology
Module IIntroduction to Business Research
Amish Soni
Introduction to Business Research
1. Nature and Scope of Business Research
2. Information Based Decision Making and Source of Knowledge
3. The Research Process Defining Research Problem and Framing
Hypothesis
4. Preparing a Research Plan
Nature and Scope of Business Research
Introduction Meaning of Research Why Study Business Research? What is Good Research? Types of Research
Introduction
Investigation using scientific procedures, by searching again and again to find out the truth.
Research is the continual search for truth using the scientific method. It is the pursuit of the truth with the help of study, investigation, observation, comparison and/or experimentation.
What makes people to undertake research?
Desire to get a research degree along with its consequential benefits
Desire to face the challenge in solving the unsolved problems. Ex. Concern over practical problems initiates research.
Desire to get intellectual joy of doing some creative work.
Desire to be of service to society Desire to get respectability.
What it Takes?
Creativity Open mind Curiosity Patience Persistence Positive Attitude Discipline and focus
What is Research?
Research is a scientific and systematic search for pertinent information on a specific topic.
It is a careful investigation or enquiry specially through search for knowledge.
It is a movement from known to unknown.
Management Research
Management 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 the existing postulates or arriving at new theories and models.
Business Research
A process of planning, acquiring, analyzing, and disseminating relevant business data, information, and insight to decision makers in ways that mobilize the organization to take appropriate action that, in turn, maximize business performance.
It is a systematic inquiry that provides information to guide managerial decisions.
Why Study Business Research?
Complex DecisionsComplex Decisions
Stakeholder Influence
Stakeholder Influence
CompetitionCompetition
FactorsFactors
Growth of Internet
Growth of Internet
Business as a discipline
Business as a discipline
Government InterventionGovernment Intervention
Greater Computing
Power
Greater Computing
Power
New Research Perspectives
New Research Perspectives
Features of a Good Research Study
Objectivity Control Generalisability Free from Personal Biases Systematic Reproducible
1-12
Hence, the following points must be ensured
Clearly defined purposeClearly defined purpose
Detailed research processDetailed research process
Thoroughly planned designThoroughly planned design
High ethical standardsHigh ethical standards
Limitations addressedLimitations addressed
Adequate analysisAdequate analysis
Unambiguous presentationUnambiguous presentation
Conclusions justifiedConclusions justified
CredentialsCredentials
Types of Research Studies
BUSINESS RESEARCH
CONCLUSIVE RESEARCH
DESCRIPTIVE RESEARCH
APPLIED RESEARCH BASIC RESEARCH
EXPLORATORY RESEARCH
CAUSAL RESEARCH
Basic Research Vs Applied Research
Basic research : the basic premise is the need to KNOW and the concern is primarily academic in nature.
Applied research: Solution or action oriented research, that is contextual and practical in approach.
Types of Research
Exploratory research is loosely structured and the basic premise is to provide direction to subsequent, more structured method of enquiry.
Conclusive research is structured and definite in orientation. These studies are usually conducted to validate formulated hypotheses and specified relationships.
Exploratory Research Vs Conclusive Research
EXPLORATORY RESEARCH CONCLUSIVE RESEARCH Loosely structured in design
Are flexible and investigative
in methodology
Do not involve testing of hypotheses
Findings might be topic
specific and might not have much relevance outside the researcher’s domain
Well structured and systematic in design
Have a formal and definitive methodology that needs to be followed and tested
Most conclusive researches are carried out to test the formulated hypotheses
Findings are significant as they have a theoretical or applied implication.
Conclusive Research
Descriptive research: The main goal of this type of research is to describe the data and characteristics about what is being studied.
Causal research: Explores the effect of one or more variables on other variable(s), with reasonable level of certainty by controlling the impact of other influencing variables.
Types of Research Studies
Fundamental Research Applied Research Descriptive research Historical Research Formulative or Exploratory Research Experimental Research Ex-Post-Facto Research Case Study Approach
Information Based Decision Making and Source of Knowledge
Emerging Hierarchy of Information - Based Decision Makers
How the Research Industry Works? Current Status of Research in India Limitation of Research
Hierarchy of Business Decision Makers
Visionaries
Standardized Decision Makers
Intuitive Decision Makers
Intuitive Decision Makers
Hierarchy of Business Decision Makers
Visionaries
Intuitive Decision Makers
Standardized Decision Makers
Hierarchy of Business Decision Makers
Visionaries
Intuitive Decision Makers
Standardized Decision Makers
Visionaries
Who Conducts Business Research?
Internal External
Business Research Suppliers
External Research Suppliers
Business Research Firms
Communication Agencies
Consultants
Trade Associations
Business Research Suppliers Business Research Firms
Full Service Specialists
Custom
Proprietary
Methods
Syndicated Data
Other
Full Service
Full-service researchers include some of the largest research firms, and some of the smallest.
These firms are often involved in research planning from the moment of discovery of a dilemma or from the definition of a management question.
Such firms often have expertise in both quantitative and qualitative methodologies, as well as multifaceted facilities.
Some are capable of working in worldwide venues, while others are limited to one industry or geographic region.
These firms are often a combination of research and consulting operations.
Some of the World’s Largest Research Companies
Organization Research Revenues, 2003 ($ millions)
VNU Inc. $3,045.00 www.vnu.com IMS Health Inc. $1,381.80 www.imshealth.com Tylor Nelson Sofres USA $1,290.10 www.tnsofres.com The Kantar Group $1,002.10 www.kantargroup.com
Custom Researchers
Often described with phrases like “ad hoc research” or “custom-designed research”
A custom researcher crafts a research design unique to the decision maker’s dilemma. In other words, each project starts from ground zero.
What is implied is that such firms do not assume that a given methodology is appropriate for each client’s research.
Although a custom researcher may not always be a full-service research firm, a full-service researcher would always fit into the custom research category.
Proprietary Methodology Researchers
A proprietary methodology is a research program or technique that is owned by a single firm.
It may be a new method developed by the firm, or a twist on an established methodology.
Firms often brand these methodologies to distinguish themselves from the competition. (ACNielsen did this with its Home scan syndicated panel.)
The Gallup Organization reinvented itself using the proprietary research model, moving from public opinion pollster and custom researcher to research-based consulting firm.
One of its proprietary methodologies is called Q12.
Specialty Business Research Firms
Methodology
Process
Industry
Participant group
Geographic Region
Some Syndicated Data Providers
AC Nielsen Scarborough Millward Brown Nielsen Media Research Roper ASW CSA TMO Yahoo! ORC International
DoubleClick Nielsen/NetRatings Taylor Nelson Sofres
Intersearch J.D. Power Associates MediaMark Simmon (SMRB) BRMB Information Resources Inc.
Communication Agencies
Direct Business
Public Relations
AdvertisingSales Promotion
Top Advertising Companies of India:
McCann-Erickson India Ltd: Mudra Communication Pvt. Ltd: J Walter Thompson India: Ogilvy and Mather: Leo Burnett India Pvt. Ltd :
Consultants and Trade Associations
Consultants Business General Business
Trade Associations General business Business specialties Research specialties
Who Conducts Research?
Limitations of Research
Doesn’t provide actionable results Some problems just cannot be researched Only provide a set of guidelines Do not include research in the overall problem or
total decision making. Rely more on intuition and judgment
Research Process
Steps in Research Process Defining Research Problem and Hypothesis
Defining the Research Problem Formulation of the Problem Problem Identification Process Decision Problem Vs Research Problem Concept and Formulation of Hypothesis
Management Dilema (Basic vs Applied)
Defining the Research Problem
Formulating the Research Hypothesis
Developing the Research Proposal
Data Collection
The Research Framework Research Design
Data Collection Plan Sampling Plan
Instrument Design
Pilot Testing
Data Analysis & Interpretation
Research Reporting
Management / Research Decision
Data Refining and Preparation
Steps in Research Process
Defining the research problem and reviewing the literature Formulation of hypothesis Developing the research proposal Research design Collecting data Analyzing data and testing hypothesis Preparation of report and preliminary analysis Interpreting the reporting the findings
Defining the Research Problem
A research problem can be defined as a gap or uncertainty in the decision makers’ existing body of knowledge which inhibits efficient decision making. The gap could be academic & theoretical (basic) or real time and action oriented (applied).
Formulation of the Problem
Steps involved in defining a problem are: Statement of the problem in a general way Understanding the nature of the problem Surveying the available literature Developing the idea through discussion Rephrasing the research problem into working
proposition
Management Decision Problem
Discussions with subject
experts
Review of existing
literature
Organization Analysis
Qualitative analysis
Management Research Problem / Question
Research framework / Analytical model
Statement of Research Objectives
Formulation of Research Hypothesis
Problem identification process
Management decision problem: the issue/decision that needs to be resolved through research
Discussion with experts: to get the right perspective on the issue, discussion/dialogue isheld with subject/industry expert.
Review of literature: the most valuable source of framing the research question is to review the past work done on related topic(s).
Qualitative surveys: primary exploratory loosely structured surveys to attain the environmental context.
Cont…
Management research problem: the four steps might lead to multiple directions/research problems the researcher can take.
The researcher has to identify THE alternative he/she will undertake
Theoretical model building (optional) Statement of research objectives
Elements of a research problem
Unit of analysisIndependent variableDependent variableExtraneous independent variableIntervening variablesModerating variables
Decision problems Research problemsDECISION PROBLEM RESEARCH PROBLEM*
1. What should be done to increase the customer base of organic products in the domestic market? 2. How to reduce turnover rates in the BPO sector? 3. How to improve the delivery process of Widex hearing aids in India? 4. Should the company continue with its existing security services vendor or look at an alternative? 5. Can the Housing and real estate growth be accelerated? 6. Whom should ICICI choose as its next Managing director- Mr ABC or Mrs. XYZ?
1. What is the awareness and purchase intention of health conscious consumers for organic products? 2. What is the impact of shift duties on work exhaustion and turnover intentions of the BPO employees? 3. How does Widex/ industry leader manage its supply chain in India/Asia? 4. What is the satisfaction level of the company with the existing vendor? Are there any gaps? Can they be effectively handled by the vendor? 5. What is the current investment in Real Estate and Housing? Can the demand in the sector be forecasted for the next six months? 6a. what has been the Leadership initiatives and performance record of ABC viz. XYZ? 6b. Can a leading aggressive private sector bank accept a woman as its leader?
Formulation of Hypothesis
A hypotheses is any assumption/presupposition that the researcher makes about the probable direction of the results that might be obtained on the completion of the research process
Descriptive hypotheses: This is simply a statement about the magnitude, trend, or behaviour of a population under study.
Relational hypotheses: These are the typical kind of hypotheses which state the expected relationship between two variables.
Criteria for hypotheses formulation
In simple, declarative statement form Measurable and quantifiable Is essentially a conjectural statement Has underlying assumptions on the testing of
the stated relationships
Preparing Research Plan
The Research Proposal Process Types of Research Proposal Structuring the Research Proposal
Types of Research Proposal
4-53
Structuring the Research Proposal
Executive Summary Problem Statement Research Objectives Literature Review Importance/ Benefits of
Study Research Design Data Analysis Nature/Form
Research Qualifications
Budget Schedule Facilities Project Management Bibliography Appendices
Researcher Qualifications
Relevant ManagementExperience
Professional Research
Competence
4-55
Sample Proposed Budget
Budgeting for Samples
Scientific Telephone Samples (STS) provides random dial, listed, and business samples for telephone and online surveys
CPM Schedule
Gantt Chart
MindWriter Project Plan
Elements of a Project Management Plan
Financial/ Legal
responsibility
Financial/ Legal
responsibility
Team relationship with client
Team relationship with client
Procedures Procedures
Organization of research team
Organization of research team
Managementcompetence
Managementcompetence
Examples ofpast work
Examples ofpast work
Plan Elements
Plan Elements