Application of research in Management

Application of research in Management

‡ ‡ ‡ ‡ Financial Management Production Management Personal Management Marketing management

Application of research in Management

Financial Management
‡ Determination of financial needs of the enterprise ‡ Raising funds at minimum cost ‡ Making of optimum allocation of funds to specific aspects ‡ Development of tools of control for evaluating the financial performance of the enterprise ‡ Development of financial data for decision making

Application of research in Management

Production Management
‡ The development of techniques and methods of the principles of systematic production planning and control.

Application of research in Management

Personal Management
‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Organizational planning and development Staffing Training and development Wage and salary administration Motivation Employee services Employee record Labour relation Personal research

Application of research in Management

Marketing Management
‡ It creates utility by making the goods and services available wherever they are demanded. ‡ It is revenue generating activity.

Objectives of Managerial Research

Objectives of Managerial Research

‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Decision making Project objective Policy objective Controlling objective Economic and business environmental objective Market objective Product development objective Innovation objective Customer satisfaction objective Profit objective Promotional objective Corporate image objective

Types of Research

Types of Research
‡ On the basis of application, research my be classified under three general category
± Policy Research ± Applied Research ± Fundamental Research

Types of Research: Policy Research

On the basis of application

‡ Research which are conducted for the specific purpose of application, or researches with policy implication ‡ Results of such studies are used as indices for policy formulation and implementation

Types of Research: Applied Research

On the basis of application

‡ For testing the known theories and models of the population ‡ The validity of the established theories may have to be tested under certain other condition

Types of Research: Fundamental Research On the basis of application ‡ Original and investigative studies of basic nature. ‡ The topic or area of investigation would be new. ‡ It helps in developing new theories and improving upon the existing theory.

Types of Research
On the basis of method of investigation o Experimental Research o Survey Research o Case Studies o Ex-post facto Research o Action Research o Field Investigation o Evaluation Research o Library Research

Types of Research: Experimental Research On the basis of method of investigation

‡ Experiment conducted in a laboratory ‡ In Physics, Chemistry, Biology, Nuclear Science etc.

Types of Research: Survey Research On the basis of method of investigation

‡ Almost all the social science researchers favour survey research. ‡ This is possible with the help of personal interviews which are backed by questionnaires, a mailed questionnaires, direct observation. ‡ Management researcher extensively make use Survey research method for the purpose of evaluating various functional areas of the management

Types of Research: Case Studies On the basis of method of investigation ‡ This is a method of exploring and analysing life situation. ‡ It is a form of qualitative and quantitative analysis of a careful and complete observation of a business situation, a problem, a person or an institution.

Types of Research: Case Studies On the basis of method of investigation Case Study in Management
‡ Actual working of a Company or Business situation at a time it was conducted ‡ It can be eyewitness narrative of a real life business situation, covering all the aspects of managerial decision and executive action against background of the environment and the industry situation within which it operates.

Types of Research: Ex-post facto Research On the basis of method of investigation

‡ Analytical and scientific examination of the relationship between independent variable and dependent variable. ‡ This is empirical research. ‡ Researcher does not have any control over independent variables. Example: advertising expenditure is an independent variable & sales volume or turnover may be treated as a dependent variable ‡ There is possibility of bias results.

Types of Research: Action Research On the basis of method of investigation ‡ Direct action ‡ In case of industrial products action research method is used when instead of distributing the product demonstration is made as a part of action research.

Types of Research: Field Investigation On the basis of method of investigation

Types of Research: Evaluation Research On the basis of method of investigation

Types of Research: Library Research On the basis of method of investigation