Infolink University College

Hawassa Campus
Aca
demi
c
Research Method in AcFn
Year Course code: AcFn 312
:
2021 Crh: 3
/22 “All progress is born of inquiry. Doubt is often better than over-
confidence, for it leads to inquiry, and inquiry leads to invention." Hudson
Year- Maxim
III
Sem-II

AcFn: Year:III Sem-II

Course Description
 Science originates in curiosity about the world. However, while
curiosity in its raw state is necessary for science, it is not enough.
 Science relies upon systematic patterns of thought, organized
investigations.
 Research methods that turn curiosity into science. This course is
intended to develop the students’ ability in scientific analysis and to
provide opportunity for application of concepts and tools in the
study of business, economic and social problems. It also gives
students a preliminary knowledge with the art of using different
research methods, techniques in solving research problems.
 Specifically, it covers scientific inquiry; experimentation; survey;
fact finding, design of questionnaire and interpretation of data; and
formulation of accounting and finance research project by students
AcFn: Year:III Sem-II
Course Objectives
At the end of this course, students should be able to;
 Understand the role of business research

 Differentiate types of research

 Identify and define research problem

 Design appropriate research design

 Understand different sampling designs

 Differentiate types of data and instrument of data gathering

methods
 Analyze and interpret data

 Prepare standard research report

 Understand different presentation techniques

AcFn: Year:III Sem-II

Course Outline
1) Research Methods: An Introduction 
2) Defining Research Problem & Hypothesis
Formulation
3) Research Proposal
4) Research Design (Planning Of Research
Project)
5) Sample Design And Procedure
6) Sources And Methods Of Data Collection
7) Data Analysis and interpretation

AcFn: Year:III Sem-II

General Guideline
Course Policy: All students are expected to abide by the code of
conduct at Africa Beza college, throughout this course.
Preparedness: You must come to class prepared by bringing with
you the appropriate materials like handouts, worksheets and
exercises given, and completed assignments.
Attendance: It is compulsory to attend class on time and every

time. If you are going to miss more than 10% of the classes during
the term, you cannot sit for final exam. There will be no grade for
students who have no complete record.
Assignments: You must do your individual and group assignments

and submit on time. No late assignment will be accepted.

Assessment/Evaluation Methods:

 Individual assignment=10% Final Exam: 35%

 Mid Exam:25% Attendance:10%
AcFn: Year:III Sem-II
 Proposal presentation: 20% Total: 100%
 CHAPTER-I GENERAL OVERVIEW
 The Word Research is derived from French word ‘Researcher’
meaning ‘to search back’. in-depth study of the status, to find
out the inner truth, inner story of any subject of interest, and
also to solve problems.
 The Advanced Learner’s Dictionary of Current English lays
down the meaning of research as: “a careful investigation
specially through search for new facts in any branch of
knowledge.”
 Research is an endeavor to discover answers to intellectual
and practical problems through the application of scientific
method; a systematized effort to gain new knowledge”.
 Research as a movement, a movement from known to
unknown. It is actually a voyage to discovery.
AcFn: Year:III Sem-II
 Cont…..
 Research comprise defining and redefining problems,
formulating hypotheses, collecting, organizing and
evaluating data, making deduction and reaching
conclusions and lastly carefully testing the conclusions to
determine whether they fit for formulating hypotheses.
 Research is the process of finding solutions to a problem
after a thorough study and analysis of the situational factors
 Research provides the needed information that guides
managers to make informed decisions to successfully deal
with problems
 The information provided could be the result of a careful
analysis of data gathered firsthand or of data that are
already available (in the company)
AcFn: Year:III Sem-II
Characteristics of Research
 Follow a systematic/scientific procedure and well drawn
research plan.
 Controlled, empirical and critical investigation.
 Investigates hypothetical propositions.
 Provide information for decision making and solving
problems.
 Establish relationship between the variables.
 Organized and careful investigation /inquiry, recording,
analyzing the available evidence to gain knowledge.

AcFn: Year:III Sem-II

Scientific method

 The word “science” is derived from the Latin word scientia

meaning knowledge. Science refers to a systematic and
organized body of knowledge in any area of inquiry that is
acquired using “the scientific method”.
 Empiricism: the notion that enquiry is conducted through
observation and knowledge verified through evidence
 Determinism: the notion that events occur according to
regular laws and causes. The goal of research is to discover
these
 Skepticism: the notion that any proposition is open to
analysis and critique
AcFn: Year:III Sem-II
OBJECTIVES OF RESEARCH

 Exploratory: To gain familiarity with a phenomenon or to achieve new

insights into it (studies with this object in view are termed as exploratory or
formulative research studies);
 Exploratory research is a type of research conducted because a problem has
not been clearly defined. Its purpose is to gain background information and
better understand and clarify a problem.
 Exploratory research is less formal, sometimes even unstructured and
focuses on gaining background information and helps to better understand
and clarify a problem.
 Exploratory research studies have three main purpose
1. Understand the magnitude or extent of a particular phenomenon, problem,
or behavior
2. to generate some initial ideas (or “hunches”) about that phenomenon, or
3. to test the feasibility of undertaking a more extensive study regarding that
phenomenon. AcFn: Year:III Sem-II
Cont…..
Descriptive: To portray accurately the characteristics of a particular individual,
situation or a group (studies with this object in view are known as descriptive
research studies);
Describes a population, situation, or phenomenon that is being studied. It
focuses on answering the  what, when, and where questions If a research
problem, rather than ”why”.
Descriptive research can use methods like observational method, case study
method, and survey method.
Since the data collected is qualitative and quantitative, it gives a holistic
understanding of a research topic.
Descriptive research allows for the research to be conducted in the respondent’s
natural environment, which ensures that high-quality and honest data is
collected.
As the sample size is generally large in descriptive research, the data collection
is quick to conduct and is inexpensive.

AcFn: Year:III Sem-II

Cont…

Explanatory: When we encounter an issue that is already known and have a

description of it, we might begin to wonder why things are the way they are.
 The desire to know "why," to explain, is the purpose of explanatory research. It is a
continuation of descriptive research and builds on exploratory and descriptive
research and goes on to identify the reasons for something that occurs.
 The researcher goes beyond merely describing the characteristics, to analyze and
explain why or how something is happening.
 Determine the frequency with which something occurs or with which it is
associated with something else (studies with this object in view are known as
diagnostic research studies);
 Identification of the nature and cause of a certain phenomenon. Explanatory
research seeks explanations of observed phenomena, problems, or behaviors
 There are two types of explanatory research: Experimental research Ex post facto
researchInflation.jpg

AcFn: Year:III Sem-II

Significance of research
 It provides the basis for nearly all government policies in our
economic system. government budgeting, problem of working
condition, defense services, distribution problem, problems of
small scale and large scale industries etc.
 It helps in solving various operations and planning problems of
industry. For example, market research may be used to study
the structure of market
 It helps the students who are doing master’s degree and Ph.D.
to attain a high position in society and a good carrier.

AcFn: Year:III Sem-II

Cont…
 It provides source of livelihood to professionals in research
methodology.
 It provides outlet for new ideas and insight to philosophers and
thinkers, and help them to achieve their self-esteem need.
 It helps in generalizations of new theory, for analyst and
intellectuals.
 It helps the social scientists in studying social relationship and
solving social problems.

AcFn: Year:III Sem-II

 MOTIVATION IN RESEARCH
What makes people to undertake research?  
 Desire to get a research degree along with its consequential

benefits;
 Desire to face the challenge in solving the unsolved

problems,
 Desire to get intellectual joy of doing some creative work;

 Desire to be of service to society;

 Desire to get respectability.

AcFn: Year:III Sem-II

Types of Research
(i) Applied vs. Fundamental:
 Research can either be applied (or action) research or fundamental (to
basic or pure) research.
 Applied research aims at finding a solution for an immediate problem
facing a society or an industrial/business organisation.
 whereas fundamental research is mainly concerned with generalisations
and with the formulation of a theory. a contribution to the existing body
of knowledge
 It is a direct descendent of philosophy, where philosophers and scientists
try to understand the underlying principles of existence.
 Advancement of knowledge & the theoretical understanding of the
relations among variables.

AcFn: Year:III Sem-II

 Cont.…
(ii) 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.
 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 (i.e., why people think or do
certain things),
AcFn: Year:III Sem-II
Cont…
iii) Conceptual vs. Empirical:
Conceptual research is that related to some abstract idea(s)
or theory. Do animals have rights?”
It is generally used by philosophers and thinkers to
develop new concepts or to reinterpret existing ones.
On the other hand, empirical research relies on experience
or observation alone, often without due regard for system
and theory.
It is data-based research, coming up with conclusions
which are capable of being verified by observation or
experiment

AcFn: Year:III Sem-II

 Some Other Types of Research
 Cross-sectional or longitudinal: In the former case the research is
confined to a single time-period, whereas in the latter case the research
is carried on over several time-periods.
 field-setting research or laboratory research or simulation research,
 Historical Research: utilizes historical sources like documents and
remains,
 Conclusion oriented and Decision oriented: Operations research is an
example of decision oriented

AcFn: Year:III Sem-II

 Research Methods versus Methodology
Research methods may be understood as all those methods/techniques*
that are used for conduction of research. In other words, all those
methods which are used by the researcher during the course of studying
his research problem are termed as research methods.
 In the first group we include those methods which are concerned with

the collection of data. These methods will be used where the data
already available are not sufficient to arrive at the required solution;
Research techniques refer to the behavior and instruments we use in
performing research operations such as making observations, recording
data, techniques of processing data and the like. The second group
consists of those statistical techniques which are used for establishing
relationships between the data and the unknowns;

AcFn: Year:III Sem-II

 Research methodology

 Research methodology is a way to systematically solve the research

problem. It may be understood as a science of studying how research is
done scientifically.
 In it we study the various steps that are generally adopted by a researcher
in studying his research problem along with the logic behind them.
 It is necessary for the researcher to know not only the research
methods/techniques but also the methodology. Researchers not only need
to know how to develop certain indices or tests, how to calculate the
mean, the mode, the median or the standard deviation or chi-squar, but
they also need to know which of these methods or techniques, are
relevant and which are not, and what would they mean and indicate and
why.

AcFn: Year:III Sem-II

Cont….

 Researchers also need to understand the assumptions underlying

various techniques and they need to know the criteria by which
they can decide that certain techniques and procedures will be
applicable to certain problems and others will not.
 Methodology has many dimensions and research methods do

constitute a part of the research methodology. The scope of

research methodology is wider than that of research methods.
 research methodology not only talk of the research methods but

also consider the logic behind the methods we use in the context
of our research study and explain why we are using a particular
method or technique and why we are not using others so that
research results are capable of being evaluated either by the
researcher himself or by others.
AcFn: Year:III Sem-II
 Research Process
 Research process consists of series of actions or steps necessary to effectively
carry out research and the desired sequencing of these steps.

AcFn: Year:III Sem-II

 Research Process:

1. Formulating the research problem: The formulation of a general topic

into a specific research problem, thus, constitutes the first step in any
kind of research.

2. Literature survey: Once the problem is formulated, a brief summary of

it should be written down
 At this juncture the researcher should undertake extensive literature
survey connected with the problem.
 For this purpose, the abstracting and indexing journals and published
or unpublished bibliographies are the first place to go to.

AcFn: Year:III Sem-II

 Cont….
 3. Developing hypothesis: Working hypothesis is tentative assumption
made in order to draw out and test its logical or empirical consequences.
 4. Sampling Design: Sample design is a definite plan determined before
any data are actually collected for obtaining a sample from a given
population.
 5. Data Collection: There are several ways of collecting the appropriate
data which differ considerably in context of money , time and other
resources at the disposal of the researcher.
 6. Analysis of data: After the data have been collected, the researcher
turns to the task of analysing 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.
AcFn: Year:III Sem-II
 Cont…
 7. HYPOTHESIS-TESTING: After analysing the data as stated
above, the researcher is in a position to test the hypotheses, if any,
he had formulated earlier.
 8. Generalisations and interpretation: If a hypothesis is tested and
upheld several times, it may be possible for the researcher to arrive
at generalisation, i.e., to build a theory. As a matter of fact, the real
value of research lies in its ability to arrive at certain
generalisations.
 9. Preparation of the report or the thesis: Finally, the researcher has
to prepare the report of what has been done by him.

AcFn: Year:III Sem-II

Criteria of Good Research

Purpose should be clearly defined and common concepts be used.

Procedure used should be described in sufficient detail to permit

another researcher to repeat the research for further advancement

Procedural design of the research should be carefully planned to

yield results that are as objective as possible.

Methods of analysis used should be appropriate

Conclusions should be confined to those justified by the data of

the research
Greater confidence in research is warranted if the researcher is

experienced, has a good reputation in research and is a person of

integrity.

AcFn: Year:III Sem-II

Main features of science.
Scientific outcomes are universal. : Science assumes universe is a vast
single system in which the basic rules are the same everywhere.
Scientific ideas or conclusions are subject to change Science welcomes

revision of its outcomes, science rejects dogmatism.

Still, scientific knowledge is durable enough; conclusions of science

are reliable. Although science welcomes change, it is not easy to change

the scientific outcomes once produced by scientific standards.
Science can’t answer all questions. It has limits. Who can answer the

question: "What is the true meaning of life?" Or who can conclude all the
advances in cancer treatment at once, or in 6 months
Science demands solid evidences: Science relies on verifiable,
measurable, valid evidences, i.e., accurate data, at every stage of
scientific process.

AcFn: Year:III Sem-II

Cont…

Scientific decisions or evaluations are not affected by human

feelings, past experience or beliefs. scientific knowledge are not
affected by human factors, biases, No subjectivity. a boiling point of
100.0 °C every time, everywhere.
Science is shaped by logic and imagination (creativity). Presence of

accurate data is not enough for the advance of science. Logic

(knowledge) is needed to shape them into scientific outcomes. All
scientific inquiries must conform to the principles of logical
reasoning.
Science explains and predicts, Science has the ability to show the

relationships among phenomena which normally could be treated as

unrelated.

AcFn: Year:III Sem-II

 PROBLEMS ENCOUNTERED BY RESEARCHERS
 The lack of a scientific training in the methodology of
research.
 There is insufficient interaction between the university
research departments on one side and business
establishments, government departments and research
institutions on the other side.
 Research studies overlapping one another are undertaken
quite often for want of adequate information.
 There does not exist a code of conduct for researchers.
 Library management and functioning is not satisfactory at
many places.
Thank You,
End of Chapter-I
AcFn: Year:III Sem-II