This document provides an overview of research, including its objectives, types, importance, and process. Research is defined as a systematic, objective, and logical investigation designed to solve problems. The main objectives of research are to answer questions about what, why, when, and how related to a research problem. There are several types of research described, including descriptive research which focuses on describing the present state of affairs, analytical research which critically evaluates available information, quantitative research which is based on measurable quantities, and qualitative research which investigates human behavior. The importance of research is that it helps solve problems in business, industry, and society. The research process involves steps like situational analysis, problem formulation, research design, data collection and analysis,

1. RESEARCH Research is an organized enquiry designed and carried out to provide for solving a problem

2. Characteristics of Research Systematic investigation Purposeobjective and logical Development of theories and principles Adopts scientific method Finding answers to relevant answers 27/01/2011 2 CHARU NAGPAL

3. Objectives of Research Answers for What ,Why, When ,How of various questions related to research problem Enable us to make reliable predictions of events yet to happen Aims at developing new tools, concepts and theories for a better study of unknown phenomenon To analyze inter-relationships between various variables Analytical studies of internal and external environment of business 27/01/2011 3 CHARU NAGPAL

5. It includes surveys and fact-finding enquiries of different kinds27/01/2011 4 CHARU NAGPAL

6. Analytical Research The researcher has to use facts or information already available, and analyze these to make a critical evaluation of the material 27/01/2011 5 CHARU NAGPAL

8. It is applicable to phenomena that can be expressed in terms of quantity 27/01/2011 6 CHARU NAGPAL

11. Empirical Research Relies on experience or observations alone It is data based research Coming up with conclusions which are capable of being verified by observation and experiment

12. Importance of Research Assists in solving various operational and planning problems of business and industry Helps to establish social relationships and solves social problems Research is used in all fields of applied economics, applied finance and applied mathematics etc…

13. Research process Situational Analysis Formulation of research problem Research Design Data collection Data processing Data analysis and interpretation Report writing

14. Errors in Research Process Sampling errors Non sampling errors

17. Research Design A research design is simply the framework or plan for a study that is used as a guide in collecting and analyzing the data.

18. Types of Research Design 1. Exploratory Research 2. Conclusive Research

19. Exploratory Research Search of secondary data and Literature Research Survey of knowledgeable persons or experience survey Case study