- Introduction to Research Methodology in Business

- Building a Foundation for Effective Research

- S.Muthukumar, EPGM2211 & A.Kamaraj, EPGM2215

1: Introduction
- Introduce the topic and its importance in the business field.
- Explain that research is a fundamental aspect of decision-making, problem-solving,
and innovation in business.

2: Objectives
- Understand the basics of research methodology.
- Explore different research approaches.
- Identify key research methods and tools.
- Apply research concepts to real-world business scenarios.

3: What is Research?
- Research is the systematic process of investigating a specific problem, question, or
phenomenon. It involves collecting and analyzing data to gain a deeper understanding
of the subject matter.
- Example: For instance, conducting a market survey to gather consumer preferences
for a new product launch is a form of research.
- Example: Imagine a company wants to understand why its sales have declined in
recent months. Conducting surveys, analyzing sales data, and interviewing customers
are all forms of research that can help uncover the reasons behind the decline.

4: Types of Research
- Exploratory Research: This type aims to explore a subject when little is known
about it, providing a foundation for further investigation.
- Descriptive Research: It involves describing and analyzing data to answer specific
questions.
- Experimental Research: This type tests cause-and-effect relationships through
controlled experiments.
- Case Study Research: It entails an in-depth analysis of a specific instance, often
used in real-world business scenarios to understand complex issues.
- Example: Suppose a company wants to launch a new product in a foreign market.
Initially, they might conduct exploratory research to understand the market's culture
and consumer behavior. Later, they might use descriptive research to gather data on
customer preferences and experiment with different marketing strategies.

5: Research Approaches
 - Quantitative Research: This approach relies on numerical data and statistical
analysis to measure and quantify trends, making it suitable for hypothesis testing and
statistical modeling.
- Qualitative Research: Qualitative research focuses on understanding experiences,
motivations, and behaviors through open-ended interviews, observations, or content
analysis.
- Example: To assess employee satisfaction, quantitative research might involve a
structured survey with rating scales, while qualitative research could use in-depth
interviews to understand the underlying reasons behind job satisfaction or
dissatisfaction.

6: Significance of Research
- Research is essential in the business world because it guides decision-making,
promotes innovation, and helps solve complex problems by providing data-driven
insights.
- Example: Google's extensive research on user behavior and search patterns allowed
them to create algorithms that deliver highly relevant search results, revolutionizing
the internet search industry.

7: Research Methods versus Methodology

- Research methods are specific techniques used to gather and analyze data, while
research methodology encompasses the entire framework of the research process,
including problem formulation, data collection, and analysis.
- Example: In a research study on customer satisfaction, the method might involve
conducting surveys using a Likert scale, while the methodology includes the overall
research design, including the choice of data sources, sampling methods, and data
analysis techniques.

8: Research and Scientific Method

- Research often follows the scientific method, which involves formulating
hypotheses, conducting experiments or observations, collecting data, and drawing
conclusions.
- Example: In the development of a new pharmaceutical drug, the scientific method is
used to test the drug's effectiveness through controlled experiments, ensuring it meets
safety and efficacy standards.

9: Importance of Knowing How Research is Done

- Understanding research methodology is crucial for business professionals as it
enables them to make informed decisions, innovate, and adapt to changing market
conditions.
- Example: Successful business leaders like Elon Musk emphasize the importance of
research in areas like electric vehicle technology and space exploration, driving
advancements in these industries.

10: Research Process

- Present the research process step by step:
1. Problem Identification: Recognize a research question or issue.
2. Literature Review: Analyze existing research and knowledge.
3. Research Design: Plan how to conduct the study.
4. Data Collection: Gather relevant data.
5. Data Analysis: Analyze and interpret the data.
6. Conclusion and Recommendations: Draw conclusions and make
recommendations.
- Example: In researching customer preferences for eco-friendly packaging, the
process starts with identifying the problem (e.g., a need for sustainable packaging
options) and progresses through each stage to provide actionable insights for product
development.

11: Criteria of Good Research

- Good research should meet certain criteria, such as validity (accuracy of results),
reliability (consistency of results), and relevance (applicability to the research
question).
- Example: In a market research study, data should be valid and reliable to ensure that
the findings accurately represent consumer preferences and can be used for effective
decision-making.

12: Problems Encountered by Researchers in India

- Researchers in India may face unique challenges such as limited access to data,
cultural considerations affecting research design, and constraints related to funding
and resources.
- Example: Researchers studying the impact of cultural diversity on team dynamics in
Indian workplaces may need to navigate sensitive cultural nuances in their research
approach.

13: Research Ethics

- Ethical considerations are critical in research to ensure the rights and well-being of
participants are protected, and research is conducted with integrity.
- Example: The Enron scandal underscores the importance of ethical research
practices, as unethical behavior can have severe consequences in corporate
governance studies.
14: Research Tools
- Modern research tools and software (e.g., SPSS, NVivo, Qualtrics).
- Example: Social media sentiment analysis tools like Brandwatch help businesses
understand public perception.

15: Practical Applications

- Real-world examples of how research methodology is applied in business:
- Product development
- Market analysis
- Consumer behavior studies
- Competitive intelligence
- Example: Apple uses extensive consumer research to develop user-friendly products
like the iPhone.

16: Challenges in Research

- Discuss common challenges such as data quality, bias, and time constraints.
- Example: A business that didn't consider customer feedback faced a product failure
due to inadequate research.

17: What is a Research Problem?

- A research problem is a specific issue or question that a researcher aims to address
through systematic investigation. It defines the scope and purpose of the research.
- Example: In a business context, a research problem could be "What are the factors
influencing customer churn in our subscription-based service?"

18: Selecting the Problem

- Selecting the right research problem is crucial. It should be relevant, significant,
feasible, and aligned with the researcher's interests and expertise.
- Example: If a company is experiencing declining sales, selecting the problem of
"identifying the causes of the decline" would be a relevant and significant research
problem.

19: Necessity of Defining the Problem

- Defining the research problem clearly ensures that the research stays focused and
results in meaningful findings. It prevents the study from becoming too broad or too
vague.
- Example: Without a well-defined problem, a study on "consumer preferences" may
lack direction and fail to provide actionable insights.

20: Technique Involved in Defining a Problem

- Defining a research problem involves techniques like literature review,
brainstorming, and discussions with experts or stakeholders. It helps narrow down the
problem and identify gaps in knowledge.
- Example: Before defining a problem, a researcher might conduct a literature review
to see what previous studies have explored and identify areas where further
investigation is needed.

21: Q&A
22: Thank You