Research Methodology

MODULE- 1

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 What is Business Research?
 A systematic Inquiry whose objective is to
provide information to solve managerial
problems.

 Research refers to the systematic method

consisting of enunciating the problem,
formulating the hypothesis, collecting the
facts or data, analyzing the facts and
reaching certain conclusions either in the
form of solution towards the concerned
problem.
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 Why Study Research?

 Research provides you with the knowledge

and skills needed for the fast-paced decision-
making environment

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 Different Approaches To Research

Approaches

Scientific Method Non-Scientific Method

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 Scientific Method

 “This is a systematic rational approach seeking

facts. It is objective, Precise and arrives at
conclusions on the basis of verifiable
evidence”.
 Basis for Scientific Method :-
 Reliance on empirical study
 Use of relevant Concepts
 Commitment to objectivity
 Verifiability

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 Non-Scientific Method

 This method is also known as “Arbitrary Method”.

 This method of research seeks answer to the

question, based on imagination, opinion, blind
belief or impression.

 This method suffers from serious drawbacks. It is

subjective, the findings vary from person to person
depending on his imagination. It is vague and
inaccurate.

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 Characteristics of Research

 Research is a systematic and critical investigation

into a phenomenon
 It is not a mere complication, but a purposive
investigation; it aims at describing, interpreting
and explaining a phenomenon
 It adopts scientific method
 It is based upon observable experience and
experiential evidence

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 CONTD:-

 Research is directed towards finding answers to

pertinent questions and solutions to problems
 It emphasizes the development of
generalizations, principles and theories
 It is objective and logical, applying tests to
validate the measuring tools and the conclusion
is reached.

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 Objectives of Research

 Finds answers for questions like what, where,

when, why etc of various phenomena.
 Verifies and tests existing facts and theory which
helps in improving knowledge and handling
situations.
 Make reliable predictions and of events yet to
happen

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 CONTD:-

 Brings out factual data on prevailing

situations and problems for drawing up plans
and schemes on a realistic basis
 Helps in rational decision making and
improvement in the performance

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 Types of Research
Research
Research
According to
According to purpose
purpose According to
According to Methods
Methods of
of Study
Study


 Pure Research
Pure Research

 Experimental Research
Experimental Research

 Applied Research
Applied Research

 Analytical Study
Analytical Study

 Exploratory Research
Exploratory Research

 Historical Research
Historical Research

 Descriptive Study
Descriptive Study

 Survey
Survey

 Diagnostic Study
Diagnostic Study

 Case study
Case study

 Evaluation Study
Evaluation Study

 Action Research
Action Research

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 Types of Research (Based on Purpose)
 Pure Research - It is undertaken for the sake of knowledge
without any intentions to apply it in practice. It is also known as
basic or fundamental research.
E.g. Newton's Contribution

 Applied Research – Carried out to find solution to a real life

problem requiring an action. It is problem oriented and action
directed.
E.g. marketing research carried on for developing a new
market.

 Exploratory Research – is preliminary study of an unfamiliar

problem about which the researcher has little or no knowledge.

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 CONTD:-
 E.g. Doctor's initial investigation of a patient suffering from
an unfamiliar malady for getting some clues for identifying
it. It usually takes the form of a “ pilot study ”.

 Descriptive Study – It is a fact finding investigation with

adequate interpretation ( more specific than exploratory
study), as it focus on particular aspects or dimensions of
problem studied. It identifies relevant variables but does
not aim at testing hypothesis.

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 CONTD:-

 Diagnostic Study – Similar to descriptive study, but with a

different focus. It aims at identifying the causes of a
problem and the possible solutions for it.
E.g. Are persons hailing from rural areas more suitable for
manning the rural branches of banks ?

 Evaluation Study – Is one type of applied research. It is

determination of results attained by some activity designed
to accomplish some valued goal or objective.
E.g. Irrigation Projects

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 CONTD :-
 Action Research – It is concurrent evaluation study of an
action program launched for solving a problem/for
improving an existing situation. In the quest for
development & advancement.
E.g. Social welfare program, HRD Program, managerial
improvement program.

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 Types of Research (Based on Methods)
 Experimental Research – is designed to assess the effects of
particular variables on a phenomenon by keeping the other
variables constant or controlled. It aims at determining
whether & in what manner variables are related to each other.
 Dependent variable - The factor, which is influenced, by other
factors.
 Independent variable - The other factors , which influence
itself.
E.g. Agricultural productivity :- Crop yield per hectare is a
dependent variable and the factors such as soil fertility,
irrigation, Quality of seeds which influence the yield are
independent variable.

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 CONTD:-
 Analytical study or Statistical Method – it is a system of
procedures and techniques of analysis applied to quantitative
data.

 Historical Research – It is a study of past records and other

information sources with the view to reconstructing the origin
and development of an institution or movement or system and
discovering the trends in the past. It is descriptive in nature.
E.g. Analysis of consumer purchase Behavior in urban and
rural markets.

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 CONTD:-

 Survey – It is a fact finding study. It’s a method of research

involving the collection of data directly from a population or a
sample, thereof at particular time.
E.g. Opinions and attitudes of respondent deal with various
issues.
 Case Study- It is an in-depth comprehensive study of a person,
social group, episode, a situation, program, a community, an
institution, or any other social unit. Its purpose may be to
understand the life-cycle of the unit under study or interaction
between the factors that explain the present status or the
development over a period of time, e.g., a study of urban poor.

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 What is Good Research?
 Following the standards of the scientific
method
 Purpose clearly defined
 Research process detailed
 Research design thoroughly planned
 Limitations frankly revealed
 High ethical standards applied

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 The Manager-Researcher
Relationship

 Manager’s obligations
 Specify problems
 Provide adequate background information
 Access to company information gatekeepers
 Researcher’s obligations
 Develop a creative research design
 Provide answers to important business questions

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 Manager-Researcher Conflicts

 Management’s limited exposure to research

 Manager sees researcher as threat to
personal status
 Researcher has to consider corporate culture
and political situations
 Researcher’s isolation from managers

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 When Research Should be
Avoided

 When information cannot be applied to a

critical managerial decision
 When managerial decision involves little risk
 When management has insufficient resources
to conduct a study
 When the cost of the study outweighs the
level of risk of the decision

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