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business research methode

business research methode

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business research methode
business research methode

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Published by: arijit on Jul 21, 2009
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11/29/2014

 
MEANING OF RESEARCH
The Advance Learner Dictionary of Current English lays down the meaning or research as “a carefulinvestigation or inquiry specially through search for new facts in any branch of knowledge”.Redman and Mory define “research as a systematized effort to gain new knowledge”.According to Clifford Woody “research comprises defining and redefining problems, formulatinghypothesis or suggested solutions; collecting, orgnanising and evaluating data; making deductions andreaching conclusions and at last carefully testing the conclusion to determine whether they fit theformulating hypothesis”. D. Slesinger and M. Stephenson in the Encyclopedia of Social Sciences define research as “themanipulation of things concepts or symbols for the purpose of generalising to extend, correct or verifyknowledge, whether that knowledge aids in construction of theory or in the practice of an art.” .Research is, thus, an original contribution to the existing stock of knowledge making for its advancement itis the pursuit of truth with the help of study, observation, comparison and experiment. In short, the searchfor knowledge through objective and systematic method of finding solution to a problem is research.
OBJECTIVES 
The purpose of research is to discover answers to questions through the application of scientific procedures.The main aim of research is to find out the truth which is hidden and which has not been discovered as yet.Broad groupings:1.To gain familiarity with a phenomenon or to achieve new insights into it2.To portray accurately the characteristics of a particular individuals situations or a group3.To determine the frequency with which something occurs or with which it is associated withsomething else4.To test a hypothesis of a causal relationship between variables
 MOTIVES 
1.Desire to get a research degree along with its con-sequential benefits:2.Desire to face the challenge in solving the unsolved problems. i.e. ., concern over practical problems initiates research.;3. Desire to get intellectual joy of doing some creative work;4. Desire to be of service to society. 5.Desire to repeatability.
STEPS IN RESEARCH
(1) Formulating the research problem
These are two types of research problems, viz., those which relate to states of nature and those which relate;to relationships between variables. The best way of understanding the problem is to discuss it with one’sown colleagues or with those having some expertise in the matter. In an academic institution the researcher can seek the help from a guide who is usually an experienced man and has several research problems inmind. This task of formulating, or defining, a research problem is a step of greatest importance in the entireresearch process
(2) Extensive literature survey
Once the problem is formulated, a brief summary of it should be written down. It is compulsory for aresearch worker writing a thesis for a Ph.D. degree to write a synopsis of the topic and submit it to thenecessary Committee or the Research Board for approval. 
(3) Developing the hypothesis
Hypothesis should be very specific and limited to the piece of research in hand because it has to be tested.The role of the hypothesis is to guide the researcher by delimiting the area of research and to keep him on
 
the right track. It sharpens his thinking and focuses attention on the more important facets of the problem. Italso indicates the type of data require and the type of methods of data analysis to be used.
(4) Preparing the research design and determining sample design
The preparation of such a design facilitates research to be as efficient as possible yielding maximalinformation. In other words, the function of research design is to provide for the collection of relevantevidence with minimal expenditure of effort, time and money.Research purposes may be grouped into four categories(i) Exploration, (ii) Description, (iii) Diagnosis, (iv) Experimentation.The preparation of the research design, appropriate for a particular research problem, involves usuallythe consideration of the following:(i)The means of obtaining the information;(ii)The availability and skills of the researcher and his staff (if any,)(iii)Explanation of the way in which selected means of obtaining information will be organized and thereasoning leading to the selection;(iv)The time available for research; and(v)The cost factor relating to research i.e., the finance available for the purpose.
(5) Collecting the data
In dealing with any real life problem it is often found that data at hand are inadequate, and hence, it becomes necessary to collect data that are appropriate, data can be collected by anyone or more of thefollowing:a. By Observation b. Through Personal Interviewsc. Through Telephone Interviewsd. By Mailing Questionnairese. Through Schedules
(6) Execution of the project
. If the execution of the project proceeds on correct lines, the data to be collected would be adequate anddependable. The researcher should see that the project is executed in a systematic manner and in time. inother words means that steps should be taken to ensure that the survey is under statistical control so that thecollected information is in accordance with the pre-defined standard of accuracy.
(7) Analysis of data
The analysis of data requires a number of closely related operations, such as establishment of categories,the application of these categories to raw data through coding, tabulation and then drawing statisticalinferences. The unwieldy data should necessarily be condensed into a few manageable groups and tablesfor further categories. Coding operation should classify the raw data into some purposeful and usable of data are transformed into symbols that may be tabulated and counted. Editing is the procedure thatimproves the quality of the data for coding.
(8) hypothesis-testing(9) Generalizations and interpretation,(10) Preparation of the report or presentation of the results, i.e., formal write-up of conclusionsreached.Deduction and InductionDeduction
Deduction is the process of drawing generalisation, through a process of reasoning on the basis of certainassumptions which are either self-evident or based on observation. In deduction, we deduce generaIisationsfrom universal to particular. Deduction can give conclusive evidence
Induction
Induction is a process of reasoning where by we arrive at universal generalisations from particular facts. Aninduction gives rise to empirical generalisations, and is opposite to deduction. Induction involves two
 
 processes-observation and generalisation. If, in a number of cases, it is observed that educated girls havegot expensive habits, one may, conclude that all educated girls have got expensive habits.
Distinction between Deduction and Induction
1.In deduction, we deduce generalisation from universal to particular, but in induction we arrive atuniversal generalisations from particular facts. Therefore, sometimes induction is thought to be opposite toinduction.2.The propositions from, which deductions are made are assumed. But in induction this is not thecase. Induction is concerned with discovering facts and relations between them. Observed facts provide the basis of induction, but they are not relevant for deduction.3.Deduction is not concerned with the material truth of the premises; but induction is concerned withthe establishment of the material truth of universal propositions.4.In deduction, the conclusion only seeks to unfold what is in the premises. It does not go beyond premises. The conclusion in deduction, in other words, is never more general than the premises. But ininduction the conclusion goes beyond the premises, what is in the data. Therefore, in induction, theconclusion is more general than the premises.5.Deductive method gives us conclusions which are certain; but the conclusions of the inductionmethod are only probable and not always certain. This is so because the conclusion in deductive reasoningfollows from the premises logically, or it is implied in the premises. But in induction method, conclusion isnot implied in the premises. Thus, the conclusions in certain, if we say that since all men are mortal. But theconclusion is only probable or uncertain, is we say that since some educated girls have expensive habits, alleducated girls have expensive habits.
DECISION-MAKING
Define the problemsBrainstorm possible solutionsConsider the consequences of each possible solution;Select a solution which seems best and put it into actionEvaluate your decision to see how well the solution you choose has ‘solved’ the problem
Importance of Research in Management Decision
Modern pace of development. Three factors stimulate the interest in a scientific research do decision-making.1.The manager’s increased need for more and better information.2.The availability of improved techniques and tools to meet this need.3.The resulting information overload.
Significance of Research in Business
For a clear perception of the term research, one should know the meaning of scientific method. The twoterms, research and scientific method, are closely related. Research, as we have already stated, can betermed as “an inquiry into the nature of, the reasons for, and the consequences of any particular set of circumstances, whether these circumstances are experimentally of recorded just as they occur.
RESEARCH DESIGN
The smooth sailing in the field of research is possible only when the researcher thinks considerably aboutthe problem under study and about the various aspects of the problem. He should think about the way inwhich he should proceed in attaining his objective in his research work. Without this the research will become futile and results in waste of time and resources which are very precious for a researcher. It is because of such importance the research design or plan occupies a key position in the research normallynecessary in formulating a research design. These are not rigid but flexible and can be adopted to suit the problem under investigation.Elements that a design includes:
Observations or Measures
Treatments or Programs
Group
Assignment to Group

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