BANGABANDHU SHEIKH MUJIBUR RAHMAN SCIENCE AND

TECHNOLOGY UNIVERSITY
Gopalgoaj-8100

Assignment on: Research Methodology

Course Title: Research Methodology
Course Code: MGT407

Submitted To:
Dr. Omar Faroque
Assistant Professor
Department of Management Studies
BSMRSTU, Gopalgoaj-8100
Submitted By:
Arifun Nahar
17MGT010
Department of Management Studies
BSMRSTU, Gopalgoaj-8100

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 ACKNOWLAGEMENT
I thank Almighty Allah first, as without His grace preparing this report would never be possible.
And then I thank to my honorable faculty and course instructor Dr. Omar Faroque who teaches
us “Corporate Social Responsibility”. He has assigned the task upon me. Although it was a big
task for me, I thank to my teacher as this task of making the assignment gave me opportunity to
learn some new things on CSR besides traditional and core ideas about CSR that I had earlier.

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The critical path method (CPM)

The critical path method (CPM) is a technique where you identify tasks that are necessary for
project completion and determine scheduling flexibilities. A critical path in project management
is the longest sequence of activities that must be finished on time in order for the entire project to
be complete. Any delays in critical tasks will delay the rest of the project.

CPM revolves around discovering the most important tasks in the project timeline, identifying
task dependencies, and calculating task durations.

Why use the critical path method?

CPM can provide valuable insight on how to plan projects, allocate resources, and schedule
tasks.  Here are some reasons why you should use this method: 

 Improves future planning: CPM can be used to compare expectations with actual

progress. The data used from current projects can inform future project plans. 
 Facilitates more effective resource management: CPM helps project managers
prioritize tasks, giving them a better idea of how and where to deploy resources. 
 Helps avoid bottlenecks: Bottlenecks in projects can result in lost valuable time.
Plotting out project dependencies using a network diagram, will give you a better idea
of which activities can and can’t run in parallel, allowing you to schedule
accordingly.  

How to find the critical path

Finding the critical path involves looking at the duration of critical and non-critical tasks. Below
is a breakdown of the steps

 List activities
 Identify dependencies
 Create a network diagram
 Estimate task duration
 Calculate the critical path
 Calculate the float

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Economic Production Quantity (EPQ)
The economic production quantity model (also known as the EPQ model) determines the
quantity a company or retailer should order to minimize the total inventory costs by balancing
the inventory holding cost and average fixed ordering cost. The EPQ model was developed by
E.W. Taft in 1918.
EPQ refers to products being manufactured by the business, and therefore takes rate of
production into account. Inventory managers use EPQ to determine optimum lot sizes during
production in order to minimize equipment setup and product storage costs.
EPQ only applies where the demand for a product is constant over the year and that each new
order is delivered/produced incrementally when the inventory reaches zero. There is a fixed cost
charged for each order placed, regardless of the number of units ordered. There is also a holding
or storage cost for each unit held in storage 
Formula of EPQ: Q= √2KD/h(1-x)

Variables
 K = ordering/setup cost per production run
 D = yearly demand rate
 h = yearly holding cost per product
 P = yearly production rate
 x= D/P
 Q = order quantity

Assumptions
1. Demand for items from inventory is continuous and at a constant rate
2. Production runs to replenish inventory are made at regular intervals
3. During a production run, the production of items is continuous and at a constant rate
4. Production set-up/ordering cost is fixed (independent of quantity produced)
5. The lead time is fixed
6. The purchase price of the item is constant, i.e., no discount is available
7. The replenishment is made incrementally

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Small and Medium Enterprises (SME)

The full form of SME is Small and Medium Enterprises. This category symbolizes a business
with capital, assets, staff, etc., within a certain limit categorized by each nation. Organizations
categorize their respective business’s size and scale per the country’s legal structure. These
SMEs provide comprehensive services to society and serve local demands. However, the high-
scale business cannot mark its presence due to a lower understanding of local demand and
several other obligations.

However, a small and medium enterprise creates job opportunities as it requires a staff of various
categories. Thus, these industries help to fulfill both the demand and supply aspects of the
economy. Across the Globe, Economists and policymakers appreciate the role of SMEs within
the economy. However, a major challenge a business within the SME category faces is
‘funding.’ Thus, more than twenty countries introduced their SME segment besides their
ongoing stock exchanges to fulfill the need.

SMEs make up the majority of the businesses operating around the world. Generally, they are
independent firms with less than 50 employees. However, the maximum number of employees is
different from one country to the next. For most companies, the upper range sits around 250.
Some countries dock the total number of employees at 200. The United States defines an SME,
among other characteristics, as those with no more than 500 workers

Importance of Small and Medium-sized Enterprises

1. Favors flexibility and innovation
Many technological processes and innovations are attributed to small and mid-size enterprises
(SMEs). Since large enterprises tend to focus on improving the old products to produce more
quantities and obtain general benefits of dimensional economy, such companies are not as
flexible as SMEs.
2. Creates a more competitive and healthier economy

Small and medium-sized enterprises stimulate competition for the design of products, prices, and
efficiency. Without SMEs, large enterprises would hold a monopoly in almost all the activity
areas

3. Assists big enterprises

Small and medium-sized enterprises help large companies in some areas of operation that they
are better able to supply. Hence, SMEs are dissolved immediately; the big enterprises will be
forced to be involved in more activities, which may not be efficient for these enterprises.
Activities such as supplying raw materials and distributing the finished goods created by big
enterprises are developed more efficiently by SMEs. The significance of small and medium-
sized enterprises is also recognized by the governments. Hence, they offer regular incentives to
SMEs, such as easier access to loans and better tax treatment.

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Memorandum of Association (MoA)

A Memorandum of Association (MoA) represents the charter of the company. It is a legal

document prepared during the formation and registration process of a company to define its
relationship with shareholders and it specifies the objectives for which the company has been
formed. The company can undertake only those activities that are mentioned in the
Memorandum of Association. As such, the MoA lays down the boundary beyond which the
actions of the company cannot go.  Memorandum of Association helps the shareholders,
creditors and any other person dealing with the company to know the basic rights and powers of
the company. Also, the contents of the MoA help the prospective shareholders in taking the right
decision while thinking of investing in the company. MoA must be signed by at least 2
subscribers in case of a private limited company, and 7 members in case of a public limited
company.

Memorandum of Association (MoA) consists of the following clauses:

1. Name clause:
This clause specifies the name of the company. The name of the company should not be identical
to any existing company. Also, if it is a private company, then it should have the word ‘Private
Limited’ at the end. And in case of public company public company, then it should add the word
“Limited” at the end of its name. For example, ABC Private Limited in case of the private, and
ABC Ltd for a public company.    
2. Registered office clause:
This clause specifies the name of the State in which the registered office of the company is
situated. This helps to determine the jurisdiction of the Registrar of Companies. The company is
required to inform the location of the registered office to the Registrar of Companies within 30
days from the date of incorporation or commencement of the company.
3. Object clause:
This clause states the objective with which the company is formed. The objectives can be further
divided into the following 3 subcategories: Main objective, Incidental objective & Other’s
objective
4. Liability clause:
It states the liability of the members of the company. In case of an unlimited company, the
liability of the members is unlimited whereas in case of a company limited by shares, the liability
of the members is restricted by the amount unpaid on their share. For a company limited by
guarantee, the liability of the members is restricted by the amount each member has agreed to
contribute.
5. Capital clause: This clause details the maximum capital that a company can raise which is
also called the authorized/nominal capital of the company. This also explains the division of such
capital amount into the number of shares of a fixed amount each.

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Entrepreneur
An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards. The process of setting up a business is known
as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas,
goods, services, and business/or procedures.

Entrepreneurs play a key role in any economy, using the skills and initiative necessary to
anticipate needs and bring good new ideas to market. Entrepreneurship that proves to be
successful in taking on the risks of creating a startup is rewarded with profits, fame, and
continued growth opportunities. Entrepreneurship that fails results in losses and less prevalence
in the markets for those involved.

Entrepreneurship is one of the resources economists categorize as integral to production, the

other three being land/natural resources, labor, and capital. An entrepreneur combines the first
three of these to manufacture goods or provide services. They typically create a business plan,
hire labor, acquire resources and financing, and provide leadership and management for the
business.

Importance Of Entrepreneurship
To understand the importance of entrepreneurship, recognizing what an entrepreneur does is
necessary. The term itself comes from the French 'entreprendre', which means 'to undertake.'
An entrepreneur is someone who undertakes or plans for all the risks and responsibilities that
come with the formation of a new business to earn profits. Entrepreneurship is important
because it has the following benefits:
 Creation of job opportunities
 Creation of new businesses
 Innovation
 Leads to better standards of living
 Supports research and development
 Promotes community development
 Leads to increased productivity
 Creation of national wealth
 Contributes to social welfare

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Acquisition
An acquisition is when one company purchases most or all of another company's shares to gain
control of that company. Purchasing more than 50% of a target firm's stock and other assets
allow the acquirer to make decisions about the newly acquired assets without the approval of
the company’s other shareholders. Acquisitions, which are very common in business, may occur
with the target company's approval, or in spite of its disapproval. With approval, there is often
a no-shop clause during the process.

We mostly hear about acquisitions of large well-known companies because these huge and
significant deals tend to dominate the news. In reality, mergers and acquisitions (M&A) occur
more regularly between small- to medium-size firms than between large companies.

The Types of Acquisition

Often, a business combination like an acquisition or merger can be categorized in one of four
ways:

1. Vertical:

The parent company acquires a company that is somewhere along its supply chain, either
upstream (such as a vendor/supplier) or downstream (a processor or retailer).

2. Horizontal: 

The parent company buys a competitor or other firm in their own industry sector, and at the
same point in the supply chain.

3. Conglomerate: 

The parent company buys a company in a different industry or sector entirely, in a peripheral or
unrelated business.

4. Congeneric: 

Also known as a market expansion, this occurs when the parent buys a firm that is in the same
or a closely-related industry, but which has different business lines or products.

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Decentralization
Decentralization refers to a specific form of organizational structure where the top management
delegates decision-making responsibilities and daily operations to middle and lower
subordinates. The top management can thus concentrate on making major decisions with greater
time abundance. Businesses often feel the requirement of decentralization to continue efficiency
in their operation.
Decentralization in management can be understood as the orderly assignment of authority,
throughout the levels of management, in an organization. It describes the way in which power to
take decisions is allocated among various levels in the organizational hierarchy. In other words,
it refers to the dissemination of powers, functions and responsibility, away from the central
location.

Benefits of decentralization
1. Quick decision making:
Decision making becomes quicker and better at the same time, by pushing down the power to
make a decision to the operational level, which is nearest to the situation.
2. Executive development:
It encourages self-sufficiency and confidence amongst subordinates, as when the authority is
delegated to lower levels, they have to rely on their judgement. By such delegation the
executives are constantly challenged, and they have to find solutions, for the problems they face
in the day to day operations.
3. Development of managerial skills:
In a decentralized structure, subordinates get an opportunity to prove their abilities. Management
also gets a pool of competent manpower, which can be placed at situations that are challenging
and breeds responsibility, by way of promotions.
4. Relieves top management:
It reduces the extent of direct supervision over subordinates by the supervisor, as they are given
the liberty to decide and act accordingly, within limits set by the superior. As a result, the top
management gets more time to take policy decisions.
5. Facilitates growth:
It confers greater independence to the lower management levels as it let them perform functions
in the way that is most appropriate for their department or division. It propagates a sense of
competition among various departments, to outperform others. This ultimately results in
the increased productivity level and generates more return to the enterprise.
6. Better control:

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The performance of each level can be measured, and the departments are also held accountable
separately for their results.

Sample
A sample refers to a smaller, manageable version of a larger group. It is a subset containing the
characteristics of a larger population. Samples are used in statistical testing when population
sizes are too large for the test to include all possible members or observations. A sample should
represent the population as a whole and not reflect any bias toward a specific attribute.
There are several sampling techniques used by researchers and statisticians, each with its own benefits
and drawbacks.

Types of samples
There are three primary kinds of samples:
1. The convenience
A convenience sample results when the more convenient elementary units are chosen from a
population for observation.
2. The judgement sample
The judgement sample A judgement sample is obtained according to the discretion of someone
who is familiar with the relevant characteristics of the population
3. The random sample
The random sample This may be the most important type of sample. A random sample allows a
known probability that each elementary unit will be chosen. For this reason, it is sometimes
referred to as a probability sample. This is the type of sampling that is used in lotteries and
raffles. For example, if you want to select 10 players randomly from a population of 100, you
can write their names, fold them up, mix them thoroughly then pick ten.
There are several types of random sample such as:
1. A simple random sample
A simple random sample is obtained by choosing elementary units in search a way that
each unit in the population has an equal chance of being selected. A simple random
sample is free from sampling bias.
2. A systematic random sample A systematic random sample is obtained by selecting
one unit on a random basis and choosing additional elementary units at evenly spaced
intervals until the desired number of units is obtained.
3. A stratified sample
A stratified sample is obtained by independently selecting a separate simple random
sample from each population stratum.
4. A cluster sample
A cluster sample is obtained by selecting clusters from the population on the basis of
simple random sampling. The sample comprises a census of each random cluster selected

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Conflict
Organizational conflict, or workplace conflict, is a state of discord caused by the actual or
perceived opposition of needs, values and interests between people working
together. Conflict takes many forms in organizations. There is the inevitable clash between
formal authority and power and those individuals and groups affected. There are disputes over
how revenues should be divided, how the work should be done, and how long and hard people
should work. There are jurisdictional disagreements among individuals, departments, and
between unions and management. There are subtler forms of conflict involving
rivalries, jealousies, personality clashes, role definitions, and struggles for power and favor.
There is also conflict within individuals – between competing needs and demands – to which
individuals respond in different ways.
In simple terms, organizational conflict alludes to the result of human interaction, that starts
when one member of the organization discerns that his/her goals, values or attitude are
incompatible, with those of other members of the organization. The incompatibility in opinions
can come into being, within a member, between two members, or between groups of the
organization.

Factors Influencing Organizational Conflict

1. Unclear Responsibility:

If there is lack of clarity, regarding who is responsible for which section of a task or project,
conflict takes place. And, to avoid this situation, the roles and responsibility of the team
members should be stated clearly and also agreed upon by all.

2. Interpersonal Relationship:

Every member of an organization, possesses different personality, which plays a crucial role in
resolving conflict in an organization. Conflicts at the workplace, are often caused by
interpersonal issues between the members of the organization.

3. Scarcity of Resources: 

One of the main reasons for occurrence of conflict in an organization is the inadequacy of
resources like time, money, materials etc. due to which members of the organization compete
with each other, leading to conflict between them.

4. Conflict of Interest:

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When there is a disorientation between the personal goals of the individual and the goals of the
organization, conflict of interest arises, as the individual may fight for his personal goals, which
hinders the overall success of the project.

Virtual Organization
A virtual organization is defined as an organization that is dependent on electronic linking to
complete the process of production. It can be of permanent or temporary nature and can include
groups, individuals dispersed at various locations, the entire organization or even an
organizational unit. In simple terms, a virtual organization is referred to a company with an
electronic presence and one who does not have a physical existence. It is formed informally as an
alliance between two or more legal entities of independent nature. The legal definition of a
company does not bound virtual organizations.

A virtual organization is referred to as a flexible network of entities that are linked by computing
technologies to share knowledge and skills. This electronic network goes beyond organizational
and geographical boundaries. It is often considered a boundary-less organization in which
vertical and horizontal barriers are removed. It takes the help of information and communication
technologies to reach common or shared interest. In a virtual organization, members accept the
help of telecommuting by using internet, phone, and e-mails to undertake their work. These types
of organizations exist through information technology tools as they do not have a base or
geographical location.

In a virtual organization, the vast majority of the employees work entirely online from dispersed
geographical locations. It uses informatics tool to sustain, maintain and enable the sharing of
resources in distributed work environments.

In today’s modern and competitive world, you will find more than enough new start-ups that are
operating as virtual organizations. Even established companies are integrating them into their
organizational design and also in hiring processes. As per a recent survey, virtual organizations
are some of the biggest drivers of transformation, and there are considerable benefits in its
formation

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