Course:

Research Methodology
 Introduction

• Objectives of the course :

• To understand and develop a systematic
approach to Economic/business research
• To emphasis on the relationship between
theory , research and practice
• To Integrate different research activities in an
orderly fashion
Cont.…
• Outcomes of the course are :
• To formulate research questions also called
research problem or research gap
• A research gap is a question or a problem that has not been answered
by any of the existing studies in the field of interest which limits the
ability of a researcher to reach a conclusion for a given question.
• Develop theoretical framework
• Develop hypotheses
• Learn to select from different research
methodologies
• Develop skills for data analysis and interpretation.
 Research Methodology
• The study of conducting research is called
Research Methodology.
• It is the way to systematically solve the research
problem.
• In it we study various steps that are generally
adopted by a researcher in studying his research
problem logically.
• we not only talk of 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.
 Research Methodology (Steps)
• Why a particular research study has been undertaken?
• How the Research problem has been defined?
• What way and why the hypothesis (basic idea) has been
formulated?
• Why a particular technique of analyzing data is used?
(or) How the data were collected?
• How the collected data were interpreted?
• What was the conclusion?
• Finally what was the solution for the Research problem?
 Research Methods
May be understood as all those methods or
techniques that are used by a researcher for
conducting a Research.
 Economic/Business Research Scenarios
A. A manager observes that the customers are not pleased
Are my customers satisfied from my product/service ?
C. The new product introduced is not doing so well.
Have we selected the right market, features or price ?

For all the above scenarios management needs to find

reliable and creditable information to understand the
issue and then take appropriate decisions in order to
achieve performance
 I don’t know
if we
Information should
reduce our
Reduces product prices?

Uncertainty
 Research
• The word research is composed of two syllables
“Re” and “Search”.
• Re” is the prefix meaning ‘Again or over again or
a new’ and “Search” is meaning ‘to examine
closely and carefully’.
• Together they form, a careful, systematic, study
and investigation in some field of knowledge
undertaken to establish principles / policies.
 Economic Research
• Economic research is defined as the systematic and
objective based process of gathering, recording and
analyzing data for making business decisions.
• Literally, research (re-search) -“search again” or Search
for knowledge
• Discover the truth which is hidden/not yet revealed
• Research is a calculated investigation that
provides a base for the decision-making. 
• Economic research must be objective based
• Neutral rather than biased
• It facilitates the managerial decision process for all
aspects of a business
 Research Design
• Research design is the conceptual structure within which
the research is conducted.
• It is a detailed outline of how an investigation will take
place.
• A research design will typically include how data is to be
collected, what instruments will be employed, how the
instruments will be used and the intended means for
analyzing data collected.
• The design of a study defines the study type (descriptive,
correlation, experimental, longitudinal etc).
•
 Research Design (cont.…)
The Research design highlights certain decisions i.e.,
•The nature of the study
•Purpose of the study
•Location where the study would be conducted
•The nature of data required
•From where the data would be collected
•The techniques of data collection that would be used
•What time period the study would cover
•The type of sample design that would be used
•The method of data analysis that would be adapted
•The manner in which the report would be prepared
 Types of Research
• On the basis of the nature of information/data, there are two
standard ways of conducting research
• Qualitative research is made on human behavior, attitudes,
cultures, experiences on the basis of observation and
interpretation
• Marketing Research conducted to collect data regarding
consumer taste, preferences and choices by analyzing their
buying behavior
Data obtained will be in the form of words, pictures, texts,
Photo Ethnography of emotions attitudes and behaviors.
• Data collection methods include Focus groups, In-depth
interviews, Participant observation etc.
 Types of Research (cont.…)
• Quantitative Research tries to quantify the data and establish
cause and effect relationship between variables with the help
of statistical or mathematical methods.
• Research conducted to know monthly price increase in
consumer food items is quantitative research.
• Data collection tools include telephone surveys, personal
interviews, web surveys and hybrid method.
• Data is measurable and comparable (compare CPI July and
August 2019).
• Data can be presented in the form of ,tables charts, Graphs
etc.
Qualitative Research
Inquiry conducted to develop insight of
human behavior/ how people think
Deals with attitudes,thoughts,feelings and
opinion of human beings.
Objective is to explore ideas used in on
gonging processes.
Purposive sampling and small sample size
for deep understanding of a targeted pop.
Exploratory in nature (provide deeper
understanding of a subject)
Deductive Reasoning (follow a particular
flow to make inferences)
Data collected will be in verbal in nature and Numerical data presented charts, graphs,
analyzed through pictures, words
Subjective approach and develop initial
understanding
Quantitative Research
Empirical research used to generate and
measure data by employing statistical tools.
Deals with Hard facts and statistical data
Objective is to establish cost and effect
relationship among variables.
Random sampling (large sample size for true
representation and generalizability)
Conclusive in nature (tests specific
hypothesis and examine relationships)
Uses deductive reasoning i.e. relies on
available e information to reach a logical
conclusion.
tables etc.
Objective approach (problem solving) and
final course of action
• Objective and Subjective
• Objectivity is personal neutrality; it allows the facts to
speak for themselves and not be influenced by the
personal values and biases of the researcher.
• A statement is said to be objective when it is based on
facts, and it can be proved easily and is impossible to
deny.
• Subjectivity is judgment based on individual personal
impressions and feelings and opinions rather than
external facts.
• The actual difference between objective and subjective
piece of information lies in the facts and opinion.
 Research Types
• Two purposes of research are
– To solve a currently exiting problem in the work
setting
• (Applied Research )

– Gaining a better understanding of a subject/

phenomenon or to add the general body of
knowledge
• (Basic Research)
 Cont.…
• Applied research is when research is done with the
intention of applying the results of it’s findings to solve
a specific problem currently being experienced in the
organization
• e.g.
– To improve the attendance at an X organization
– to improve an organization’s hiring process.
– To discover the best teaching and learning methods
– A study to build students’ interests in a subject
– research to treat a specific disease.
– An investigation to identify the side effects of using a
particular drug.
• Types of Applied Research
• Evaluation Research analyses existing information
about a research subject e.g., an organization may adopt
evaluation research to determine how to cut down overhead
costs.
• Research and Development is a type of applied research that
is focused on developing new products and services based on
the needs of target markets and finding ways to improve on
an existing product or create new products that satisfy the
identified needs.
• Action Research is used by teachers, supervisors and
administrators to improve the quality of their decisions and
actions. identify a problem (e.g., fewer students are attending
the lecture…devise a plan to increase the interest of students
in the lecture).
 Cont.…
• Basic research also called pure or fundamental research
is a type of research approach that is aimed at gaining a
better understanding of a subject, phenomenon or basic
law of nature. This type of research is primarily focused
on the advancement of knowledge/expanding the
frontier of knowledge rather than solving a specific
problem.
• Typically, basic research can be exploratory,
descriptive or explanatory. Aim of this research is
to gather information in order to improve one’s
understanding, and this information can then be
used in the solutions to a problem.
• How do teaching methods affect student’s
concentration in class?
• A research to discover the components of the
human DNA.
• An investigation into the symptoms of
Coronavirus
• Do stress levels make individuals more
aggressive?
• Relationship between renewable energy and
green economic growth
• Policy rate and inflation nexus in Pakistan
 Difference
• Basic research is meant to expand one’s current knowledge while
applied research is aiming to solve particular life problems.
• While basic research aims to predict future phenomena, applied
research seeks to prevent predicted problems or come with
solutions for future challenges.
• As compared to basic research, applied research is more closely
connected with the development of economy as numerous
surveys, experiments, and case studies are conducted to verify
the efficacy of products, market strategies, and other
economically related procedures
 Cont.…
• As compared to basic research, applied research is
more often linked with the improvement of technology
as it covers the direct application of knowledge.
• As compared to basic research, applied research is
closely associated with commercial processes since it
aims to create relevant products and services.
• As compared to applied research, basic researches
more often appear in academic publications as they
involve into generating new knowledge.
 Philosophy of Choices

• Deductive
– Develop a theory and hypothesis (or hypotheses)
and design a research strategy to test the
hypothesis
• Inductive
– Collect data and develop theory as a result of your
data analysis
Philosophy of Choices
Philosophy of Choices
Philosophy of Choices
 Hallmarks/Characteristics of Good Research

• Purposive: Definite aim (Help reduce turnover,

absenteeism, complete projects on time )
• Rigor: Sound theoretitical and methodological design,
systematic and scientific. Avoid individual biases.
(Manager interviews few employee on their
preference for flexi time and device policy)
• Testability: After properly selecting the
cases/respondents and collection of data logically
developed hypothesis statements can be tested using
statistical tests.
Cont.…
• Replicability: Applying the same method the finding
from more than one study suggest the same results.
• Precision and Confidence: Study of the whole
universe of item, events or population of interest is
not possible. But we try to come close to reality as
possible (precision)and also be confident of our
findings that they are correct (confidence).
• Objectivity: The interpretation of the results should
be based on facts, not on our own subjective feeling
Cont.…
• Generalizability: Applicability of the finding on a
variety of firms/organization
• Parsimony: Simplicity in explaining the phenomena is
preferred, rather than managing many factors and
their effect.
 Hypothetic-Deductive Method of Research
1. Observation
2. Preliminary Information gathering
3. Theory formulation
4. Hypothesizing
5. Further data collection
6. Data Analysis
7. Deduction
 Observation

• One senses certain changes are occurring

• New behaviors are surfacing in an environment
• When one considers the situation important then
move to the next step
– E.g. Customers are not pleased as they used to be.
Are customers at the store are grumbling or
complaining.
 Preliminary Information Gathering

• Know more about what has been observed

• Talk to more people about it( other employees, customers)
• Know what is happening is happening and why.
– E.g. Talk to customers if they are happy with the product
or service. The customer might be happy with the
products but the problem is that the required products
are out of stock and sales person are not helpful. The
salesman input on this issues reveals that the factory
does not deliver on time so in order to satisfy the
customer the salesmen communicates different delivery
dates.
 Hypothesizing

• Some testable or educated supposition are made

– E.g.
– If sufficient inventory is made customers would
be less dissatisfied customers
– Accurate and timely information of the delivery
to the sales person can also reduce the
dissatisfied customer.
 Further Scientific Data Collection

• Data with respect to each variable in the hypothesis

need to be obtained.
• E.g.
– Measure the current level of customer satisfaction
and measure the satisfaction level when the stocks
are made readily available.
– Measure the current level of accuracy of information
to sales person on the stock and the satisfaction
level of customer and then measure them again
once the level of information has increased.
 Data Analysis

• Data gathered statistically is analyzed and see if the

hypothesis have been supported or not.
 Deduction

• Arriving at a conclusion by interpreting the meaning

of the results of the data analysis.
– E.g.
– If the customer satisfaction has increase by
certain amount when the availability of
information and the stock.
– We could recommend that these two factors
influence the satisfaction of the customers
 Recap lecture
• We tried to examine what research is?
• Research Philosophies and choices
• We considered the two types of research
• Hall Marks of Research (Purposive, rigor, testable, replicabilty,
precision and confidence, objectivity , genralizability and parsimony)
• The seven steps of hypothetic deductive research
method
1. Observation
2. Preliminary Information gathering
3. Theory formulation
4. Hypothesizing
5. Further data collection
6. Data Analysis
7. Deduction