Business Research Methods

Subject-InCharge : Ms. Kritika Dhiman

Designation: Assistant Professor

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 Syllabus
Unit I
Research Methodology: definition, objectives, scope in management research, process of Research and
limitations. Research Design: Formulating the Research Problem, Choice of Research Design, Types of
Research Design, Sources of Experimental Errors
Unit II
Sampling: Advantages and Limitation of Sampling, Sampling process, Types of Sampling: Nonprobability
sampling techniques, Probability sampling techniques, Sampling and non sampling errors. Data collection:
primary, secondary data collection, observation methods and survey method

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 Unit III
Measurement Concept, Levels of measurement—Nominal, Ordinal, Interval and Ratio Attitude
Measurement: Comparative scaling techniques, Non-comparative scaling techniques, Questionnaire
Designing: Types, Guidelines for developing a good questionnaire
Unit IV
Data Preparation And Analysis : Editing, Coding, Cross Tabulation and Practices through Excel
(Basic Concepts) Report Writing: Types of Research Reports, Guidelines for Writing a Report, Report
Format, Guidelines for evaluating a report.

Suggested Readings:
1. C.R. Kothari : Research Methodology, New Age International Publishers
2. K.V. Rao : Research Methodology, Sterling Publishers,

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 UNIT 1

Introduction to Research

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 MEANING OF RESEARCH

Research refers to a search for knowledge. One can also define research as a
scientific and systematic search for information on a specific topic.
● Research is an art of scientific investigation.
● a movement from the known to the unknown
Research is, thus, an original contribution to the existing stock of knowledge
making for its advancement.
The search for knowledge through an objective and systematic method of
finding a solution to a problem is research.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

According to Clifford Woody (Kothari 1988) research comprises of ,
“Defining and redefining problems, formulating hypothesis or suggested
solutions; collecting, organizing and evaluating data; making deductions
and reaching conclusions; and at last carefully testing the conclusions to
determine whether they fit the formulating hypothesis.”

According to Redman and Mory (1923), defined research is a

"systematized effort to gain new knowledge“.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 FEATURES OF RESEARCH

● Systematic
● Valid
● Logical
● Problem-solving
● Action-Oriented
● empirical-verifiable by observation or experience
● Replicable
● The foundation of knowledge

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 OBJECTIVES OF RESEARCH

● The purpose of the research is to discover answers to questions through

the application of scientific procedures.
● The main aim of the research is to find out the truth which is hidden
● to achieve new insights
● To gain familiarity with a phenomenon’
● To portray accurately the characteristics of a particular individual,
situation or a group
● To test a hypothesis

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (i) Descriptive vs. Analytical
TYPES OF (ii) Applied vs. Fundamental

RESEARCH (iii) Quantitative vs. Qualitative

(iv) Conceptual vs. Empirical

(v) one-time research vs

longitudinal research

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (i) Descriptive vs. Analytical

Descriptive research includes surveys and fact-finding inquiries. The major

purpose of descriptive research is to study the state of affairs as it exists at
present. for example, frequency of shopping among customers, preferences
of people, or similar data.

In analytical research, on the other hand, the researcher has to use facts or
information already available and analyze these to make a critical evaluation
of the material. For example, to study the reasons for the fall in Indian rupee
vs dollar.
Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)
 (ii) Applied vs. Fundamental

Applied research aims at finding a solution for an immediate problem

facing a society or an industrial/business organization. The research aimed
at certain conclusions (say, a solution) facing a social or business problem is
an example of applied research. For example, Challenges faced for
introducing a new product in the market.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

fundamental research is mainly concerned with the formulation of a
theory. Gathering knowledge for knowledge’s sake is termed ‘pure’ or ‘basic’
research. Research concerning some natural phenomenon or relating to
pure mathematics are examples of fundamental research. How the rainbow
is formed..? It is a study of fundamental research.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (iii) Quantitative vs. Qualitative

Quantitative research is based on the measurement of quantity or amount.

It is applicable to phenomena that can be expressed in terms of quantity.
For example, Financial Analysis of a company.

Qualitative research, on the other hand, is concerned with qualitative

phenomenon, i.e., phenomena relating to or involving quality or kind. For
instance, when we are interested in investigating the reasons for human
behaviour, Motivation Research.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (iv) Conceptual vs. Empirical

Conceptual research is related to some abstract idea(s) or theory. It is

generally used by philosophers and thinkers to develop new concepts or to
reinterpret existing ones. For example, Philosophical researches.

Empirical research relies on experience or observation alone. It is

data-based research, coming up with conclusions which are capable of being
verified by observation or experiment. For example, Impact of Internet
banking on e-commerce business.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (v)one-time research vs longitudinal research

the research is confined to a single time-period in One time period.

longitudinal research the research is carried on over several time-periods.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

RESEARCH PROCESS

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 Research process consists of series of actions or steps necessary to effectively carry out
research and the desired sequencing of these steps.
the following order concerning various steps provides a useful procedural guideline
regarding the research process:
(1) formulating the research problem;
(2) extensive literature survey;
(3) developing the hypothesis;
(4) preparing the research design;
(5) determining sample design;
(6) collecting the data;
(7) execution of the project;
(8) analysis of data;
(9) hypothesis-testing;
(10) generalizations and interpretation, and
(11) preparation of the report

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

RESEARCH PROCESS Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)
 1. Formulating the research problem

A researcher must find the problem and formulate it so that it becomes

vulnerable to research. Like a medical doctor, a researcher must examine all
the symptoms (presented to him or observed by him) concerning a problem
before he can diagnose correctly.To define a problem correctly, a researcher
must know what a problem is?

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 2. Extensive literature survey

At this juncture the researcher should undertake extensive literature survey

connected with the problem.A good library will be a great help to the
researcher at this stage.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 3. Development of working hypotheses

Working hypothesis is tentative assumption made in order to draw out and

test its logical or empirical consequences.

● The hypothesis guides 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.
● It also indicates the type of data required and the type of methods of
data analysis to be used.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 4. Preparing the research design

the function of research design is to provide for the collection of relevant

evidence with minimal expenditure of effort, time and money.The following
are the main types of research designs:
1. Exploratory. A flexible research design which provides opportunity
for considering many different aspects of a problem is considered
appropriate if the purpose of the research study.
2. Descriptive. An accurate description of a situation or of an association
between variables, the suitable design will be one that minimizes bias
and maximizes the reliability of the data collected and analyzed.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

3. Diagnostic. An attempt to detect and discover a nuances of a problem
by way of series of clinical, laboratory and field tests and trials which aim to
shed more light on the nature of a given problem.

4. Experimental. A series of tests and trials is performed on a set of

given variables which are either controlled or experimental in order to
determine a better solution or outlook based on the results obtained.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 5. Determining sample design

The researcher must decide the way of selecting a sample or what is

popularly known as the sample design. In other words, a sample design is a
definite plan determined before any data are actually collected for obtaining
a sample from a given population.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 6. 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. There are several ways of collecting the appropriate data which
differ considerably in context of money costs, time and other resources at
the disposal of the researcher. Primary data can be collected either through
experiment or through survey.
The researcher should select one of these methods of collecting the data
taking into consideration the nature of investigation, objective and scope of
the inquiry, finanical resources, available time and the desired degree of
accuracy.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 7. Execution of the project

Execution of the project is a very important step in the research process. If

the execution of the project proceeds on correct lines, the data to be
collected would be adequate and dependable. The researcher should see that
the project is executed in a systematic manner and in time.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 8. Analysis of data

After the data have been collected, the researcher turns to the task of analyzing
them. 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 statistical inferences.
Coding is usually done at this stage through which the categories of data are
transformed into symbols that may be tabulated and counted.
Editing is the procedure that improves the quality of the data for coding. With
coding the stage is ready for tabulation.
Tabulation is a part of the technical procedure wherein the classified data are put
in the form of tables.
Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)
 (9) Hypothesis testing

After analyzing the data as stated above, the researcher is in a position to

test the hypotheses, if any, he had formulated earlier. Do the facts support
the hypotheses or they happen to be contrary? This is the usual question
which should be answered while testing hypotheses.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (10) Generalizations and interpretations.

If a hypothesis is tested and upheld several times, it may be possible for the
researcher to arrive at generalization, i.e., to build a theory. As a matter of
fact, the real value of research lies in its ability to arrive at certain
generalizations.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 (11) Preparation of the report

Finally, the researcher has to prepare the report of what has been
researched. Writing of report must be done with great care.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

Criteria of Good Research

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 Criteria of Good Research

Good research is systematic: It means that research is structured with

specified steps to be taken in a specified sequence in accordance with the
well-defined set of rules.
Good research is logical: This implies that research is guided by the rules of
logical reasoning and the logical process of induction and deduction are of great
value in carrying out research.
Good research is empirical: It implies that research is related basically to one
or more aspects of a real situation and deals with concrete data that provides a
basis for external validity to research results.
Good research is replicable: This characteristic allows research results to be
verified by replicating the study and thereby building a sound basis for decisions.
Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)
LIMITATIONS IN RESEARCH

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 LIMITATIONS IN RESEARCH

● The lack of a scientific training in the methodology of research

● Misuse of data
● Research studies overlapping one another are undertaken quite often
for want of adequate information
● There does not exist a code of conduct for researchers
● There is also the difficulty of timely availability of published data
● the problem of conceptualization and also problems relating to the
process of data collection and related things.

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)

 Thank you...
Subject InCharge - Ms. Kritika Dhiman
Assistant Professor
kritikadhiman321@gmail.com

Prepared By: Kritika Dhiman (AP, CGC Jhanjeri)