Business Research Methods
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Business Research Methods



BRM - Comprehensive Notes

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Business Research Methods Business Research Methods Document Transcript

  • Comprehensive Notes Business Research Methods [M.Com Part – I] Written & Composed by: Mohammad Masood Babar, M.Com – I, 2012 – 2014. University Of Balochistan, Quetta.
  • 2 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Table of Contents No. Questions Page (1) What is Research? What are its kinds? 4 (2) What are the different methods of Research by Purpose? 4 - 5 (3) Discuss the Role of Research in Business. (OR) Significance of Business Research. 6 - 7 (4) What are the characteristics of good Scientific Research? (OR) What are the Hallmarks of Scientific Research? 7 - 8 (5) The Manager and The Consultant Researcher Relationship by Internal and External. 8 - 10 (6) What is Research Process and what are the different steps in Research process? 10 - 11 (7) Define Variables, What are the Kinds of Variables? 11 (8) Define hypothesis, What are the different forms of hypothesis and also explain the types of hypothesis with Examples. 12 (9) Explain the factors in determining hypothesis. 13 (10) Define Literature Review, also explain Characteristics of good Literature Review. 13 (11) Explain in detail the steps for conducting Literature review. 14 - 15 (12) Define Theoretical framework, Explain the components of Theoretical framework, With examples. 15 – 16 (13) Define Research Design and Steps involve in Research Design. 16 (14) Describe two sources of Data and Explain its Merits and Demerits. 17 – 18 (15) Explain five techniques of Data Collection, with advantages and Disadvantages. 19 - 21 (16) What are the Characteristics of Good Questionnaire? 21 - 22 (17) What are the principles and techniques of Interview, Explain? 23 (18) What is Survey and What are the steps in Survey? 24 (19) Explain in Detail the steps in Sampling Process. 24 (20) What is sample size and what are the factors, which determine the sample size. 25
  • 3 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. (21) What do you mean by probability and Non-probability Sampling Techniques, explain in Detail, and also discuss advantages and Dis-advantages of each Technique. 26 - 28 (22) What do you mean by data presentation techniques, Explain its different kinds with the help of examples? 28 - 32 (23) Write a short Note on Editing of Data. 32 (24) What do you mean by report writing, Explain the essential parts of Report Writing. 32 - 33 (25) Describe the two types of Report, Formal and Informal, also explain the Importance of Research Report. 33 (26) What are the Characteristics of good Research Report? 34 (27) Define Model and How will you Construct a Model. 34 (28) Explain the different types of Model. 35
  • 4 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.1 What is Research? What are its kinds? Ans.: Research: Research is a systematic investigation for a purpose of involving processes and numerous activities, rather than the application of isolated, unrelated concepts and idea’s. Business Research: Business research can be described as a systematic and organized effort to investigate a specific problem encountered in work setting that needs a solution. It compromises a series of steps designed and executed with the goal of finding answers to the issues that are of concern to the Manager in the work environment. (OR) Business research may be defined as the systematic and objective process of gathering, Recording and analysis for aid in making business decisions.  Systematic and Objectivity are its distinguishing features of business research. This is important tool for Manager’s and Decision Makers in Corporate and Non-Corporate Organizations.  Ref: Zikmond, Business Research Methods. Kinds of Business Research: There are two kinds of Business research.  Fundamental or Pure Research.  Applied Research. 1). Fundamental (or) pure Research: This kind of Research is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization. It attempts to expand the limits of knowledge in general, and as such it is not aimed at solving a particular practical problem. E.g If a Researcher wants to know the impact on production by using new techniques and Machines. 2). Applied Research: Applied Research is conducted to solve a current problem faced by the Manager in the work setting, demanding a timely solution. E.g A particular product may not be selling well and the manager might want to find the reasons for this, In order to take corrective action. Q.2 What are the different methods of Research by Purpose? Ans.: Different Methods of Research by Purpose are as follows. 1).Descriptive Research: This kind of Research is highly accurate and detailed, Obtained from real observations and statistical reports. No amalgamation is made and nor researcher own opinion is expressed. Purposes:  Detailed, Highly accurate picture.  Locate new ideas.  Creates Typology.  Clarify Stages & Process.  Documents a causal process.  Report on background or context. E.g If a researcher wants to know the percentage of male & female working in an environment or data presentation techniques.
  • 5 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 2). Exploratory Research: This method of research generates and explores new ideas and makes future research feasible. Purposes:  Familiar/basic facts.  Creates general picture.  Formulate picture for future research.  Generate new ideas for research.  Feasibility of future research.  Measurement of development. E.g A Sales Manager Starts/thinks of selling a particular product door by door. 3). Inductive Research: This kind of research relates to the induction of new ideas, concepts and theories as an addition to the current and existing theories of knowledge. Purposes:  Advancement of knowledge.  Makes practical work feasible. E.g A manager feels that machines can make the quality of product far better, than those which are manufactured by hands. 4). Deductive Research: In this kind of research in which the researcher deducts some parts or deducts fully the existing or previous theory and replaces it by his own Inductive theory/Inductive research. Purposes:  Formulate new ideas.  New Innovation replaces old one’s E.g A manager introduces new Machines, New Techniques for the production of a commodity which results better than the previous. 5). Experimental Research: In this kind of research the researcher examines two different test groups, the normal and the other condition. To find out the level of efficiency and performance and different variables linked with it. Purposes:  Finding performance levels.  For getting maximum performance.  Creation of healthy environment. E.g If a researcher wants to find out the performance level of labour working in small cottage industries and large production units. 6). Empirical Research: In this kind of research the researcher establishes the relationship among the variables and then tests it’s those relationships with the help of different statistical techniques. Purposes:  Finding performance levels.  For getting maximum performance.  Accurate data. E.g A researcher wants to study the relationship between job satisfaction and the age among the employee’s 7). Analytical Research & Interpretation: In this kind of research data is collected from general environment which is further analyzed by breaking the data into smaller units and compiling these smaller units to get an aggregate result. Purposes:  To get an accurate data.  Study at both levels smaller and the aggregate level. E.g A researcher wants to find out the ratio of students enrollment in university for the last ten years.
  • 6 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.3 Discuss the Role of Research in Business (OR) Significance of Business Research. Ans.: The role of research in business is discussed in the following sections. 1).Role of Research in Management: Management deals with the problem of how to coordinate activities and resources in the organization. Role of research in management may include as a guideline for a manager to perform their duties in a better way having a better relationship with employees’ and it provides the benefit to the manager in managing the issues related to the worker’s & employee’s. Some of the particular researches in management are; Production Management Research: It includes research on sub-division and techniques of production. It talks about efficiency of operation management, total quality management and inventory management. Personnel Management Research: It deals with the span of control, Job Requirements, specification, recruitment, selection of employees’, training, reward system, development and so forth. Financial Management Research: Research has played a vital role in resources management such as fixed assets, current assets. Sources cannot be dig out without the help of research & development so the role of research is not limited to find the present status of resources but also about the financial forecasting. Statistical Information System: Statistical data regarding the performance of the company cannot be created without Research & Development department. External & Internal Environment: It can be approachable with the help of research in the organization. 2). Role of Research in Marketing: Research plays a vital role in evaluating the needs, wants & desires of the consumer for a product. Before the production of a new product marketing managers conducts a marketing research and give its results and opinion’s to the management who further takes decision regarding production of the product. 3). Role of Research in Finance: Research has the growing trends towards finance different problems of valuation and measurements of resources such as valuation of fixed assets, current assets, present status of resources are the major subjects of financial research. Research is also conducted before financial forecasting. 4). Role of Research in Making Business Policies: Research is conducted for higher level management. Business policy which is mainly concerned with the problems such as what product to adopt? Or continue or discontinue what pricing policy to use and over a long run, what decision to make on plant location and expansion etc. 5). Role of Research in Business Administration: In developing countries like Pakistan it is very difficult to conduct administrative research hence the departments and organizations are on decline. Administrative research can improve the overall efficiency of the company. 6). Role of Research in Planning: Strategic planning research makes it possible for the organization to have a vision about the future. Planning research can be regarding manpower planning, strategic planning, development planning etc. 7). Role of Research in Economy: It is the most important benefit that the research provides in the economy. All the economical issues related to the government issues, individual or consumer’s are dealed in a more comprehensive and analytical way. Research provides the advantage of handling the issues and problems in a more scientific way many experts are working in this field of research. 8). Role of Research in Making Investments: Making Investments with research work is just like going for war without weapons. Research plays an important role while making investment as how to invest?
  • 7 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Where to invest? And how much to invest and what will be the outcomes of these investment? The answers of all these questions come only from research. Q.4 What are the characteristics of good Scientific Research? (OR) What are the Hallmarks of Scientific Research? Ans.: Scientific Research can be defined as;  Theoretical analysis, exploration and experimentation directed to the increase of knowledge and thereby the power to control phenomena.  A careful, critical search for solutions to the problems that plague and puzzle mankind.  Any relatively systematic, formal, conscious procedure for evolving and testing hypotheses about reality, or in modern terms, for decisions. According to Sekaran, characteristics of scientific research are. 1. Purpose 2. Testability 3. Replicability 4. Precision 5. Confidence 6. Objectivity 7. Generalizability 8. Parsimony 1). Purpose: May it be investigation or scientific research; both are undertaken with a clear purpose and objective to lead into problem identification or the range of inquiry. The process leads into the study of the implications deducted from the issues and their relationship within the theoretical framework. 2). Testability: A research design is prepared to facilitate the understanding of the sequence of study and methods to be applied to formulate hypotheses, collect data and analyze it with the help of statistical tests and techniques. The methods used are to achieve the objectives and purpose of the study. The objective descriptions of the methods, problems and hypotheses with the relationship of different variable make the study, hence testable. The testability is the characteristic and attribute of scientific investigation making it replicable and it also contributes to generalization. 3). Replicability: The method of testing of hypotheses and the study of the problem facilitates Replicability of the research. This reflects the validity and reliability of the measures adopted by the researchers. The repetition of the procedures to study similar situations will increase confidence in the methodology and understanding of the research process. 4). Precision: Precision refers as to how close are the findings based on a sample or reality. In other words, precision reflects the degree of exactitude of the results based on the sample, to the phenomena studied as they exist in the population. 5). Confidence: Confidence refers to the probability that our estimations are correct. That is, it is not enough to be merely precise or one can say that 95% of the time we were going to find our results to be true and there will be 5% chances of being wrong. This is known as confidence, and some refer to it as accuracy. The precision and confidence are important aspects of research, and can be obtained by appropriate and scientific sampling design. The sample data we study will not present exact characteristics of the phenomena. The results will surely have biases, and measurement errors.
  • 8 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 6). Objectivity: The conclusion drawn through data analysis and interpretation of the results should be objective, based on the fact, resulting from the actual data and not on subjective evaluation. The more objective the interpretation of data, the more scientific research it becomes. Researcher takes measures to eliminate his level of subjectivity and bias in approach. 7). Generalizability: The characteristic of research is more applicable in case of pure and basic research than the applied research. Applied research is restricted in its scope as the problems it studies are more localized. However the scientific value of the findings is not restricted to Generalizability, which is the applicability of research findings to more than one organizational setting. The wider the range of applicability of solutions or findings of the research, the more useful it would be to the users of such knowledge. Employers’ participation enhances decision-making process in an organization, which can be validated by its applicability in different organizations. 8). Parsimony: Simplicity in explaining the phenomena or problems that occur, and in generating solutions for the problems is always preferred to complex research frameworks that consider an unmanageable number of factors. Economy in research models is achieved when we build into our research framework a lesser number of variables that would explain the variance far more efficiently than a complex set of variables that would marginally only add to the variance explained. Parsimony can be introduced with a good understanding of the problem and the important factors that influence it. Such a good conceptual model can be realized through unstructured and structured interviews with the concerned people, and a thorough literature review of the previous research work in the particular problem area. Q.5 The Manager and The Consultant Researcher Relationship by Internal and External. Ans.: The Manager and Researcher Relationship: As a manager you will often need to engage a consultant to study some of the more complex, time-consuming problems that you might encounter. so it becomes necessary for managers to deal with consultants, the manager stands to a benefit great deal. When the manager is knowledge able about the research, then the interaction between the manager and the researcher becomes more meaningful, purposeful, and beneficial both to the organization and the researcher alike. Organizations also hire outside research agencies to identify and solve problems for them. In such a case, the manager must not only interact effectively with the research team, but must also explicitly delineate the roles for the researchers and the management. The manager has to inform the researcher what types of information could be provided to them, and more important, which of their records would not be available to them such records might include personnel files of employees, or the one with certain trade secrets. Making these facts very clear at the very beginning can save a lot of frustration for both the parties. Beyond specifying roles and constraints, the manager should also make sure that there is congruence in the value systems of management and the consultant for example, the research team might very strongly believe and recommend that reduction in the work force can cut down operating costs. Management’s consistent philosophy however might not to fire employees who are experienced. Thus, there would be a clash of ideologies between the management and the research team. Research knowledge will help managers to identify and explicitly state, even at the outset, the values that the organization holds, so that there are no surprises down the road, Clarification of the issue offer the research team the opportunity to either accept the assignment, and find alternative ways of dealing with the problem, or regret it inability to undertake the project. In either case both the organization and the research team would be better off having discussed their value orientations, thus avoiding potential frustration on both sides. Internal Consultant/Researcher: Some organizations have their own consulting or research departments, which might be called the management service department, R&D (Research and Development Department) or by some other names, this department serves as Internal Consultant of the organization.
  • 9 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Advantages: Some of the advantages of the internal team of research are as follows. 1).The internal team would stand a better chance of being readily accepted by the employees. 2).The team would require much less time to understand the structure, the philosophy and climate and the functioning work system of the organization. 3).They would be available all the times for implementing their recommendations after the research findings are accepted. 4).They would also be available for evaluating the effectiveness of the changes, and considering further changes if and when necessary. 5).The internal team might cost less than an external team for the department. Disadvantages: There are certain disadvantages too of internal team of research which are as follows. 1).In view of their long tenure as internal consultants, the internal team may quite possibly fall into stereotyped way of looking at organization and its problems. This would inhabit any fresh ideas and perspectives that might be needed to correct the problem. 2).There is scope of certain powerful coalitions in the organization to influence the internal team to conceal, distort or misrepresent certain facts. 3).There is a possibility that even the most highly qualified internal research teams are not perceived as “Experts” by the staff and the management, and hence their recommendations do not get the consideration and attention they deserve. 4).Certain organizational biases of the internal research team might in some instances make the findings less objective and consequently less scientific. External Consultant/Researcher: Many organizational consulting firms are listed in telephone directories and can be used for consulting on various types of projects. If a broad indication about areas issue needs to be research is stated, the consulting firm will provide lists of individuals that have expertise in those particular areas. The credentials of these individuals are also usually presented by the consulting firm or can be requested. Advantages: The advantages of the external team are. 1).The external team can draw on a wealth of experience from having worked with different types of organizations that have or had the same or similar types of problems. 2).They would be able to ponder over several alternative ways of looking at the problem because of their extensive problem-solving experiences in various other organizational setups. 3).The external teams especially those from established research and consulting firms, might have more knowledge of current sophisticated problem-solving models through their periodic trainings programs, which the team within the organization may not have access to. 4).External research institutions ensure that their members are current on the latest innovations through periodic and organized training programs. The extent to which internal team members are kept abreast of the latest problem-solving programs and techniques may considerably vary from one organization to another. Disadvantages: The Major disadvantages in hiring an external research team are. 1).The cost of hiring an external research team is usually high and is the main deterrent, unless the problems are very critical.
  • 10 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 2).In addition to the considerable time the external team takes to understand the organization to be researched, they seldom get a warm welcome, nor are readily accepted by the employees. 3).Departments and individuals are likely to be affected by the research study may perceive the study team as a threat and resist them. 4).The external team also charges additional fees for their assistance in the implementation and evaluation phases. Q.6 What is Research Process and what are the different steps in Research process? Ans.: Research Process: The Research Process includes a number of steps or stages constituting the research activities. The process initiates from the need to conduct a research in an area of interest to both the sponsors and researchers, to obtain information for solving a managerial problem or for making a decision to accomplish set goals or objectives .Every researcher follows the sequence in the process. 1). Observation: Identification of broad problem area through the process of observing and focusing on the situation. The broad problem area refers to the entire situation where one sees a possible need for research and problem solving. The specific issues that need to be researched within this situation may not be identified at this stage. 2). Preliminary Data Gathering: The nature of information needed by the researcher for the purpose could be broadly classified under three headings. 1. Background information of the organization-that is, the contextual factors. 2. Managerial philosophy, company policies, and other structural aspects. 3. Perceptions, attitudes and behavioral responses of organizational members and client system (as applicable). Certain types of information such as the background details of the company can be obtained from available published records, the website of the company and other sources. Other types of written information such as company policies, Procedures, and rules can be obtained from the organization’s records and documents. 3). Problem Definition: After the observation and data gathering, the researcher is in position to narrow down the problem from its original board base and define the issues of concern more clearly. It is critical that the focus of further research, or in other words, the problem, be unambiguously identified and defined. No amount of good research can find solutions to the situation, if the critical issue or the problem to be studied is more clearly pinpointed. A problem does not necessarily mean that something is seriously wrong with a current situation that needs to be rectified immediately. A “problem” could simply indicate an interest in an issue where finding the right answers might help to improve an existing situation. 4). Theoretical Framework: After completing the observation, data gathering and defining the problem one is ready to develop a theoretical frame work is a conceptual model of how one theorizes or makes logical sense of the relationships among the several factors that have been identified as important to the problem. 5). Generation of Hypothesis: Once we have identified the important variables in a situation and established the relationship among them through logical reasoning in the theoretical frame work, we are in position to test the whether the relationships that have been theorized do in fact hold true. By testing these relationships scientifically through appropriate statistical analyses, or through negative case analysis in qualitative research we are able to obtain reliable information on what kind of relationships exist among the variables operating in the problem situation. The results of these tests offer us some clues as to what could be changed in the situation to solve the problem. Formulating such testable statements is called hypothesis generation.
  • 11 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 6). Scientific Research Design: Having identified the variables in a problem situation and developed the theoretical frame work, the next step is to design the research in a way that the requisite data can be gathered and analyzed to arrive at a solution. 7). Data Collection, analysis and Interpretation: After designing the research the data collected and the hypothesis generated is than analyzed and interpreted. 8). Deduction, Hypothesis substantiated: The results of analyzing data and hypothesis are checked in this step, if the hypothesis is valid than the researcher may lead to make an inference. If it needs some deduction it should be analyzed again and deducted finally to make and inference. 9). Report writing: It is an important step of research process, the results of the study and the recommendations to solve the problem are effectively communicated to the sponsor, so that the suggestions made are accepted and implemented, otherwise, all the efforts on research would be vein. Hence, a well-thought-out written report is critical. 10). Report Presentation: When the research report is written it’s time for presentation of the report. Certain aspects such as the problem investigated, the findings, the conclusion drawn, the recommendations made and their implementation are presented to the sponsor’s. 11).Managerial decision making: The final step of the research process is the managerial decision making in which the managers take decision on the basis of Research results. Q.7 Define Variables, What are the Kinds of Variables? Ans.: Variables: A variable is anything that can take on differing or varying values. The values can differ at various times for the same object or person, or at the same time for different objects or persons. Examples of variables are production unit’s absenteeism, and motivation. Types of Variables: Four main types of variables are discussed here. (1) The Dependent variable (also known as the criterion variable). (2) The independent variable (also known as the predictor variable). (3) The moderating Variable. (4) The intervening variable. 1).The Dependent Variable: The dependent variable is the variable of primary interest to the researcher. It is the main variable that lends itself for investigation as a viable factor. Through the analysis of dependent variable (i.e. what variable influence it). 2).The Independent Variable: An Independent variable is one that influences the dependent variable in either a positive or negative way. 3).The Moderating Variable: The moderating variable is one that has a strong contingent effect on the independent variable-dependent variable relationship. 4).The Intervening Variable: An intervening variable is one that surfaces between the time the independent variable start operating to influence the dependent variable and the time their impact is felt on it.
  • 12 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.8 Define hypothesis, what are the different forms of hypothesis and also explain the types of hypothesis with Examples. Ans.: Hypothesis: A hypothesis may be defined as a tentative point of view for explaining certain facts or relationships as a guide to further investigate other facts or relationships thus “a hypothesis is a proposition which has not been tested and is only a provisional explanation of a phenomenon or a tentative solution of a problem”. The usefulness of the concept of hypothesis is that it makes a statement that can be tested through empirical research. E.g If the pilots are given adequate training to handle mid-air crowed situations, air-safety violations will be reduced. There are two forms of hypothesis.  Directional hypothesis  Non-Directional Hypothesis. 1. Directional hypothesis: It states the relationship between two or more variables or comparing two groups, terms such as positive and negative, more than or less than and the like are used, then these hypotheses are directional because the direction of the relationship between the variables (positive/negative) is indicated. E.g Women are more motivated than men. E.g The greater the stress experienced in the job, the lower the job satisfaction of employees. 2. Non-Directional Hypothesis: Non-directional hypothesis are those that do postulate a relationship or difference, but offer no indication of the direction of these relationships or differences. E.g There is a relationship between age and job satisfaction. E.g There is a difference between the work ethic values of American and Asian employees. There are two Types of hypothesis.  Null Hypothesis  Alternate Hypothesis. 1. Null Hypothesis: The null hypothesis is a proposition that states a definitive, exact relationship between two variables. That is, it states the population correlation between two variables is equal to zero or that the difference in the means of two groups in the population is equal two zero. E.g women are more motivated than man. Ho: µM=µw (Or) Ho: µM - µw=0 Where Ho represents the null hypothesis, µM is the motivational level of men, µw and is the motivational level of women. 2. Alternate Hypothesis: The alternate hypothesis, which is the opposite of the null, is a statement expressing a relationship between two variables or indicating differences between groups. E.g women are more motivated than man. HA: µM < µw (Or) HA: µM > µw Where HA represents the alternate hypothesis, µM is the motivational level of men, µw and is the motivational level of women.
  • 13 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.9 Explain the factors in determining hypothesis. Ans.: Development of Hypothesis: One of the functions of a researcher is to formulate and develop hypothesis to solve a problem by stating causal relationship, which can be empirically tested. A researcher develops hypothesis on the basis of following factors. 1).Personal Judgment: When the hypothesis is framed the personal judgment of the researcher is very much important how a researcher perceive the events and phenomenon happening in the environment. It is the personal judgment of the researcher. 2).Past Experience of the Researcher: It is very much important that the past experience of the researcher gives him an idea about different issues related to business or economy. The exposure of the researchers creation, the approach of the researcher. 3).Culture of the Research: Another important factor is the culture in which the researcher is living, because all the concepts and ideas come from the culture characteristics. 4).Observing skills of the Researcher: It is the primary characteristics of the researcher to observe the things prevailing in the environment. 5).Statistical Quality: It is quality of the researcher about the statistical knowledge which will help him in formulating and describing the hypothesis. 6).Abstracting the Issues: It is the quality related to the researcher that he should be exact and distinguishing the issues. Q.10 Define Literature Review, also explain Characteristics of good Literature Review. Ans.: Literature Review: Literature review is the documentation of a comprehensive of published and unpublished work from secondary sources of data in the areas of specific interest to the researcher. The sources of secondary data can be books, journals, news papers, magazines, conference proceedings, doctorial dissertations, master theses, government publications and financial, marketing and other reports. Characteristics of Good Literature Review: A good literature provides the foundation for developing a comprehensive theoretical framework from which hypothesis can be developed for testing. Some of the essential characteristics of a good literature review are, the researcher should ensure. 1. Important variables that are likely to influence the problem situation are not left out of the study. 2. A cleaner idea emerges as to what variables would be most important to consider (parsimony), why they would be considered important and how they should be investigated to solve the problem. Thus the literature review helps the development of the theoretical framework and hypothesis for testing. 3. The problem statement can be made with precision and clarity. 4. Testability and Replicability of the findings of the current research are enhanced. 5. One does not run the risk of “Reinventing the wheel” that is, wasting efforts on trying to re discover something that is already known. 6. The problem investigated is perceived by the scientific community as relevant and significant.
  • 14 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.11 Explain in detail the steps for conducting Literature review. Ans.: Conducting the Literature Review: Based on the specific issues of concern to the manager and the factors identified during the interview needs to be done on these variables. Step – I: This process involves identifying the various published and unpublished materials that are available on the topics of interest, and gaining access to these. Step – II: The second step is the gathering the relevant information either by going through the necessary materials in a library or by getting access to online sources. Step –III: The third step is writing up the literature Review. 1).Identifying the Relevant Sources: Global Business Information, Published articles in newspapers and periodicals, and conference proceedings among other sources all are now available on Data-bases. Computerized databases include bibliographies abstract and full texts of articles on various business topics. Statistical and financial databases are easily accessible. Computer hardware and software enables the storage, updating and display of information on global activities. Economic indicators and other data of various countries can be tracked easily. Statistical abstracts and the like, now available on CD_ROM and on the internet, bring to the researcher all the information needed for research at the press of appropriate computer keys. Basically tree type of data bases come in handy while Reviewing the literature as indicated below. The bibliographic databases: which display only the bibliographic citation that is the name of the author, the title of the article or book sources of publication, year, and volume or page numbers These have the same information as found in the bibliographic index, books in the libraries, which are periodically updated and include articles published in periodicals, newspaper, books and so on. The abstract data-bases: which in addition provide an abstract or summary of the articles. The Full-Text Databases: Which provide the full text of the article. Data bases are also available for obtaining statistics-marketing, financial and so on and directories are organized by subject, title, geographic location, trade opportunities, foreign traders, industrial plants and so on. 2).Extracting the relevant Information: Accessing the online system and getting a printout of all the published works in the area of interest from a bibliographical index will provide a comprehensive bibliography on the subject which will form the basis for the next step. Whereas the print out could sometimes include as many as a hundred or more listening, a glance at the titles of the article or books will indicate which of these may be pertinent and which others are likely to be peripheral to the contemplated study. The abstracts of such article that seems to be relevant can be than obtained through the online system. This will gave an idea of the articles that need to be looked into detail depth, the full text of which can then be printed out. While reading these articles, detailed information on the problem that was researched, the design detail of study (such as sample size and data collection methods) and the ultimate findings could be systematically noted in some convenient formats. This facilitates the writing up of the literature review with minimum disruption and maximum efficiency. While reading the articles. It is possible that certain other factors are also found to be closely related to the problems at hand. For instance, while reading the articles on the effectiveness of information systems, the researcher might find that the size of the company has also been found to be an important factor. The researcher might than find the size of organizations is categorized and measured by others and hence, might want to read materials on organization size. All the articles considered relevant to the current study can be listed as references, using the appropriate referencing format.
  • 15 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 3).Writing Up the Literature Review: The documentation of the relevant studies citing the author and the years of study is called literature review or literature survey. The literature survey is a clear and logical presentation of the relevant research work done thus far in the area of investigation. As stated earlier the purpose of literature review is to identify and high light the important variables and to document the significant findings from earlier research that will serve as the foundation on which theoretical framework for the current investigation can be built and the hypothesis developed. Such documentation is important to convince the reader that, a) The research is knowledgeable about the problem area and has done the preliminary homework that is necessary to conduct the research. b) The Theoretical framework will be structured on work already done and will add to the solid foundation of existing knowledge. Q.12 Define Theoretical framework, Explain the components of Theoretical framework, with examples. Ans.: Theoretical framework: Theoretical framework is developed to know the existence of relationship among the variables. These relationships will help to understand the problem and conduct the research on it. Theoretical framework is build up with the objective to know the nature of study under investigation. Components of Theoretical framework: There are mainly four components of theoretical framework. (1). Identify and label the variables: The variables considered relevant to the study should be clearly identified and labeled in the discussions. (2). Build up Relationship: The discussion should state how two or more variables are related to one another. This should be done for the important relationships that are theorized to exist among the variables. Then there should be an indication in the discussions as to whether the relationships would be positive or negative. (3). Testing the Relationship: The relationships are tested than, which leads to the formulation of Hypothesis. (4). A Schematic Diagram: A schematic diagram of theoretical framework should be given so that the reader can see and easily comprehend the theorized relationships. E.g Successful New product development and its Influence on stock market price: a). New Product Development. b). Stock market price. Independent Variable should always be on left side. Relationship: New Product Development Stock Market Price Independent Variable Dependent Variable ± Influence Impact ±
  • 16 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Test of Relationship: [Correlation] P: - 0 + Zero: No-relationship Q.13 Define Research Design and Steps involve in Research Design. Ans.: Research Design: It is the master plan of all the activities by the researcher in order to conduct the research successfully. The steps involve in the research design are as follows. 1). Purpose of Study: Studies may either be exploratory in nature or descriptive, or may be conducted to test hypotheses. The case study, which is an examination of studies done in other similar organizational situations, is also a method of solving problems, or for understanding phenomena of interest and generating further knowledge in the area. 2). Methodology of Study: In this step of research design the researcher have determine the methodology of the study as sample size, multiple methods of data collection, development of sophisticated measuring instruments, and the like, add to research costs, though they contribute more to testability, accuracy, precision and Generalizability. 3). Sample of Study: This step involves the study of procedures using a small no. of items or a part of whole population to make conclusions regarding the population.” A sample is subset or some part of a large population” the purpose of studying sample is to enable the researcher estimate some unknown characteristics of population. 4). Analysis Technique: In this step the researcher decides what technique of analysis for the data collect should be used to analyze and interpret data to make inferences. 5). Data Presentation and Techniques: In this step the mass of data is organized condensed into a form that can be easily and more rapidly understood and interpreted. For this purpose techniques of classification, tabulation and graphic display are presented. 6). Conclusion of findings of the Study: In this Step of Research design the conclusions and the findings of the study are made to be presented to the management and hiring authorities. 7). Writing the Research Report: It is an important and last step of research design, the results of the study and the recommendations to solve the problem are effectively communicated to the sponsor, so that the suggestions made are accepted and implemented, otherwise, all the efforts on research would be vein. Hence, a well-thought-out written report is critical.
  • 17 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.14 Describe two sources of Data and Explain its Merits and Demerits. Ans.: Data can be obtained from two sources.  Primary Sources.  Secondary Sources. A). Primary Sources: Primary data refers to the information obtained firsthand by the researcher on the variables of interest for the specific purpose of study. Some examples of sources of primary data are individuals, Focus groups, Panels of respondents specially set up by the researcher, or some unobtrusive sources such as trash can. 1. Individuals: Individuals provide information, when interviewed, administered questionnaire or observed. 2. Focus groups: Focus groups consist typically of 8 to 10 members with a moderator leading the discussions for about 2 hours on a particular topic, concept or product. Members are generally chosen on the basis of their expertise in the topic on which their information is sought. E.g Computer specialists may be selected to form a focus group to discuss matters related to computer’s and computing and women with children may compose a focus group to identify how organizations can help working women. 3. Panels of Respondents: Panels, like focus groups are another source of primary information for research purposes. Whereas, focus groups meet for one-time group session, panels (of members) meet more than once. In cases where the effects of certain intervention or changes are to be studied over a period of time, panel studies are very useful. Individuals are randomly chosen to serve as panel members for a research study. For instance, if the effects of a proposed advertisement for a certain brand of coffee are to be assessed quickly. Merits of Primary Source of Data: Some merits of primary source of data are as follows. 1. The data is very much relevant to the purpose for which it is collected or gathered. 2. How the terms used and quality control measures are pre-defined and clear. 3. Seeking primary data needs No-permission. Demerits of Primary Source of Data: Some of the demerits of primary data are as follows. 1. Its costly and more time consuming, then secondary source of data. 2. There is no virtue in generating primary data if secondary data is available. 3. The reliability of primary data is always objected and criticized. B). Secondary Sources: Secondary data refers to information gathered by someone else other than the researcher conducting the current study. Such data can be internal or external to the organization and accessed through the internet or perusal of recorded or published information. It can be later used for making a decision if found suitable for the purpose, other than the original one. Two sub-sources of secondary data are.  Internal Sources  External Sources. (i). Internal Sources: Public and private organizations have data in form of records and statements. Such as sales invoices, sales records by product and region, Orders received, financial statements etc which are useful sources of information for decision making.
  • 18 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. (ii).External Sources: Government, autonomous, semi-autonomous and private organizations generate and originate data and information for public use, which is supplied free of cost on request or as a price document. Following are some of the external sources generating and publishing data for general use. 1. Finance division, Govt. of Pakistan. 2. Planning commission, Govt. of Pakistan. 3. State bank of Pakistan 4. Banks, financial institutions and brokerage houses. 5. Federal bureaus of statistics. 6. Directorate of national savings. 7. Population census organization. 8. Export promotion Bureau. 9. Central board of revenue. 10. Agriculture census organization. 11. Stock exchange. 12. Export processing Zone. 13. Geological Survey of Pakistan. 14. Directorate of Industries. 15. Development Authorities. 16. Universities and Educational Institutions. 17. Chambers of commerce and trade associations. 18. Pakistan council for agriculture and scientific research. 19. Applied economic research centre, Karachi. 20. News papers, journals and magazines. Merits of secondary Source of Data: Some of the merits of secondary source of data are as follows. 1. The use of secondary source of data can reduce cost of the research project and also facilitates earlier competition of the project. 2. Secondary data is more reliable than primary data. Demerits of secondary Source of Data: Some of the demerits of secondary source of data are as follows. 1. The information or data collected earlier for a problem might not match totally with the situation. 2. The secondary data needs to be used cautiously, after seeking necessary permission. 3. How were the terms defined? And what quality controls were employed in collection and processing? These two questions lie hazard of using secondary data. 4. It is convenient if the data is provided at acceptable lower costs, otherwise the researcher has to use other alternatives.
  • 19 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.15 Explain Five techniques of Data Collection, with advantages and Disadvantages. Ans.: There are several data collection methods, each with its own advantages and disadvantages. Data collection methods include (1). Interviews. (2). Questionnaires (3).Observations (4). Surveys (5). Projective Techniques. (1). Interviewing: It is the process of collecting data from the respondents through face-to-face interviews the interviewer and interviewee are the two parties in the process, the objective is to get the real information. Interviews can be structured and un-structured. i). Structured Interviews: It is the type of interview which is formal in nature. The interviewer gets the appointment from interviewee, and has a set of planned questions to be asked from the interviewee. ii). Un-structured Interviews: It is type of interview in which the interviewer asks questions informal, there are no planned questions. E.g class room questions. Advantages: Some advantages of interview are. 1. It helps to get real information from respondents. 2. It provides the advantage to the interviewer to clarify anything/point during the interview. 3. The interviewer gets the trust and confidence of the interviewee. 4. Helps to understand the body language of the interviewee. Disadvantages: Some disadvantages of interview are. 1. The interviewee is reluctant to give all the answers. 2. The interviewee may be more cautious during the interview. 3. It’s more costly and time consuming. (2).Questionnaires: It is type of data collection, which contain list of questions, arranged in a sequence and distributed among the respondents to give answer against each question. Questionnaires can be either personally administered or mail questionnaire. i). Personally Administered Questionnaires: In this type of data collection questionnaires are distributed to a large number of respondents at same time to get their feedback, its less expensive and less time consuming. ii). Mail Questionnaires: They are mailed to the respondents who can complete them at their conveyance, in their homes, and at their own pace. However the rate of return of mail questionnaires is typically low. Types of Questions: The questions are generally asked of two types. i).Open-ended Questions: These are questions with many options given below, so one can choose an appropriate one. ii).Close-ended Questions: These are questions bounded between two ends. E.g Yes or no, True or False. Advantages: Some advantages of questionnaires are 1. The researcher or member of the research team can collect all the completed responses within a short period of time. 2. Any doubts that the respondents might have on any questions could be clarified on the spot. 3. Researcher can introduce topic of research and motivate the respondents to offer their frank answers.
  • 20 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 4. Administering questionnaires to a large numbers of individuals at the same time is less expensive and time consuming than interviewing. Disadvantages: Some disadvantages of questionnaires are 1. The respondents may not answer all of the questions. 2. Those responding to the survey may not at all represent the population they are supposed to. 3. In case if it’s a mail questionnaire, doubts of the respondents may not be fully clarified and rate of return of mail questionnaire is typically low. (3).Observation Technique: It is the type of data collection in which the researcher observe the respondents and does not ask anything or question, he merely note the behavior of the respondents. Observation can be of two types i). Non-Participant Observation: The researcher may collect the needed data in that capacity without becoming an integral part of the organizational system. E.g The researcher might sit in the corner of an office and watch and record how the manager spends his time. ii). Participant Observation: The researcher may also play the role of the participant-observer, Here the researcher enters the organization and become a part of the work team. For instance if the researcher wants to study group dynamics in work, organizations, Then he may join the organization as an employee and observe the dynamics in the group. Advantages: Some advantages of Observation Technique are 1. The data obtained through observation of events as they normally occur are generally more reliable and free from respondent’s bias. 2. It is easier to note the effects of environmental influences on specific out come. 3. It is easier to observe certain groups of individuals for instance very young children, Extremely busy executives. Disadvantages: Some disadvantages of Observation Technique are 1. This method of collecting data is not only slow but also expensive. 2. Because of long periods for which subjects are observed, Observer fatigue could easily set in, which might bias the recorded data. 3. Through moods, feelings and attitudes can be guessed by observing facial expressions and other non-verbal behaviors, the cognitive thought processes of individuals cannot be captured. 4. Observers have to trained in what and how to observe, and ways to avoid observer’s bias. (4). Surveys Techniques: It is the technique of getting information from the respondents in the field with the help of questionnaires and interview. The surveyor gets qualitative and quantitative. Types of Survey: There are mainly three types of survey. i). Factual Survey: In such survey, the researcher get the facts from the respondents who act as reporter. ii). Opinion Survey: The respondent is supposed to express his point of view. He is given an opportunity to report his judgment on a particular subject or issue. iii). Interpretative Survey: In interpretative surveys, the respondents act as an interpreter as well as a reporter. E.g the respondent answers the question “why do you smoke?” and the researcher reads it.
  • 21 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Advantages: Some advantages of Survey Technique are 1. Surveyor gets both qualitative and quantitative information. 2. Information gathered is Factual and is Reliable. 3. A face-to-face conversation takes place between respondents and the researcher. Disadvantages: Some disadvantages of Survey Technique are 1. Opinions can be biased. 2. In factual survey results are subject to many errors, E.g errors of memory, Inability to generalize, Desire to make good impression etc. 3. This technique is costly and time consuming as compared to interviewing and questionnaire technique. (5). Projective Techniques: Methods of data collection used by the researcher to increase the inner feelings of the respondents. It is also measure to predict the respondent’s behavioral characteristics. The researcher uses this technique to know the existing different feelings about the product and service. Similarly the researchers also see the association of the respondents with the product and service. Familiar techniques for gathering information are word association, Sentence completion, Thematic Apperception Test (TAT). i). Word Association: Such as asking the respondent to quickly associate a word-say, work______ with the first thing that comes to mind, are often used to get the true attitudes and feelings. The reply would be an indication of what work means to the individual. ii). Sentence Completion: Sentence completion would have the respondent quickly complete a sentence, such as “work is _________” one respondent might say “work is a lot of fun” whereas another might say “work is drudgery” These responses may provide some insights into individuals feelings and attitudes towards work. iii). Thematic Apperception Test (TAT): Thematic Apperception Test (TAT) call for the respondents to weave a story around a picture that is shown. Several need patterns and personality characteristics of employees could be traced through these tests. Advantages: Some advantages of Projective Technique are 1. Projective techniques are useful for tapping attitudes and feelings that difficult to obtain otherwise. Disadvantages: Some disadvantages of Projective Technique are 1. It cannot be sorted by the researchers who are not trained to conduct motivational research. 2. Its time consuming technique and requires a lot of brain storming and skills. Q.16 What are the Characteristics of Good Questionnaire? Ans.: Some essential characteristics of a good questionnaire are, 1). Contents and Purpose of Questions: The nature of the variable- subjective feelings or objective facts-will determine what type of questions will be asked. If the variables tapped are of subjective nature (E.g satisfaction, Involvement), where respondents belief’s, perceptions and attitudes are to be measured, the question should tap the dimensions and elements of the concept. Where objective variables such as age and educational levels of respondents are tapped, a single direct question- preferably one that has an ordinal scaled set of categories-would be appropriate. Thus the purpose of each question should be carefully considered so that the variables are adequately measured and yet no superfluous questions are asked.
  • 22 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 2). Language and wording of Questionnaire: The language of the questionnaire should be approximate the level of understanding of the respondents. The choice of words would depend on their educational level, the usage of terms and idioms in the culture and frames of references of the respondents. Language should be preferably local language and the words concise and clear. 3). Open-ended V/s Closed Questions: Open ended questions allow respondents to answer them in any way they choose. E.g Question is asking them to state five things that are interesting and challenging in the job. A closed question in contrast, would ask the respondents to make choices among the set of alternatives given by the researcher. For instance instead of asking the respondent to state any five aspects of the job that she finds interesting and challenging, the researcher might list 10 or 15 aspects that might seem interesting or challenging in job and ask the respondents to rank first five among these in order of their preferences. All items in a questionnaire using a nominal, ordinal or likert or ratio scale are considered closed. 4). Positively and Negatively worded Questions: Instead of phrasing all questions positively, it is advisable to include some negatively worded question as well, so the tendency in respondents to mechanically circle the points towards one point of the scale is minimized. 5). Double-Barreled Questions: A question that lends itself to different possible responses to its sub parts is called double-barreled questions. Such questions should be avoided and two or more questions should be asked instead. E.g “Do you think there is a good market for the product and that it will sell well?” 6). Ambiguous Questions: Even questions that are not double-barreled might be ambiguously worded and the respondent may not be sure what exactly they mean. 7). Recall-Dependent Questions: Some questions might require respondents to recall experiences from the past that are hazy in the memory. Answers to such questions might have bias. 8). Leading Questions: Questions should not be phrased in such a way that they lead the respondents to give the responses that the researcher would like or want to give. 9).Loaded Questions: Another type of bias in questions occurs when they are phrased in an emotionally charged manner. An example of such a loaded question is asking employees. “To what extent do you think management is likely to be vindictive, if the union decides to go for strike?” the word strike and vindictive are emotionally charged terms. 10).Social Desirability: Questions should not be worded that they elicit socially desirable responses. For instance a question such as “Do you think that older people should be laid off?” would elicit a response of “No” because society would frown on a person who would say that elderly people should be fired even if they are capable of performing their jobs satisfactorily. 11). Length of Questions: Finally, simple, short questions are preferable to long ones. As a rule of thumb, a question or a statement in the questionnaires should not exceed 20 words, or exceed one full line in point. 12). Sequencing of Questions: The sequence of questions in the questionnaire should be such that the respondents is led from questions of general nature to those that are more specific, and from questions that are relatively easy to answer to those that are progressively more difficult. This funnel approach as it is called facilitates the easy and smooth progress of the respondents through the items in the questionnaire. 13). Physical Layout: The physical layout of the questionnaire is of prime importance It is preferable that A4 size paper is selected paper quality is that it should of 80 grams with 1 inches spacing on right and left sides and 0.5 inches at top and bottom. It should be typed in full-block form and preferably Times new roman fonts should be used.
  • 23 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.17 What are the principles and techniques of Interview, Explain? Ans.: Interviews have demonstrated the importance of following principles and techniques. 1). Understanding the Interviewer’s Responsibility: The interviewing process must result in a true picture of what the respondents thinks and sometimes what he knows about certain issues, with no suggestions from interviewer to influence his thinking. 2). Setting the stage for Interview: To obtain accurate information from the respondent, the situation throughout the interview should be such that respondents feels willing to talk freely and frankly and provides the desired information. 3). Gaining Acceptance: Showing general interest in your respondent is one of the best ways to be friendly with him and to make him feel relaxed and confident. 4). Explaining the purpose: The instructions for each survey will contain a statement of the purpose of the survey, we need to know the purpose of the survey and have clearly in mind the idea’s about it, Which we want to put across the respondent. 5). Conducting the Interview: A good interviewer should tell the respondent as to what is expected of him or her in the interview. It is important to put across the idea that the interview might be conducted for, at a place convenient to the respondent to discuss things rather than merely answer a set of questions and that there is no right or wrong to the question. 6). Asking the Questions: The interviewer has established rapport with the respondent and made the respondent interested in the survey, one might start with the main part of the interview that is pulling the questions. 7). Getting Adequate Answer’s: The interviewer should use special devices to draw information, even the concealed part of the information, from the respondent to have an adequate answer to the question. 8). Probing the Respondent: An interviewer’s main objective is to collect information one should never leave a question until the respondent have adequately answered or unless the interviewer is convinced that the respondent cannot further answer. 9).Repeating the Questions: It is recommended to repeat the question to probe the respondent. 10). Recording the contents of Interview: Answers of the respondents should be recorded in full, and in his own words. The correctly recorded answer not only reveal the meaning of the respondent’s comments, but also reflects what type of a person respondent is and how strongly he feels about the socio- economic problems under investigation. 11). Closing the Interview: It is important to leave the respondent on a friendly note. A few words of thanks will make the respondents feel better, obliged and acknowledged for his efforts and time consumed. It is also important that any questions or doubts about the interview, which the respondents might have, should be removed before closing the interview.
  • 24 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.18 What is Survey and What are the Steps in Survey? Ans.: Survey: It is the technique of getting information from the respondents in the field with the help of questionnaires and interview. The surveyor gets qualitative and quantitative. Steps in Survey: There are six steps of conducting a survey. 1). Deciding the objective of the survey: It is important for research the formulation of objectives of the research, as it is implemented in the documents. 2). Research Methodology: The research should define the research methodology of survey in detail he should clearly explain the methods by which the data would be calculated, series of data should also be defined. 3). Sampling: The surveyor sample the population with the help of sampling techniques either probability or improbability. 4). Selecting Field Force: Deciding to go into the field the surveyor select the interviewer and field force. 5). Processing the data: The surveyor codes the data for processing purpose. 6). Report writing: Finally, writing a report of the assumptions and presenting it. Q.19 Explain in Detail the steps in Sampling Process. Ans.: Sampling Process: It is concerned with the methods of sampling and the procedures to be adopted in selecting sample units from the population, which is basic source of data. The sampling units can be drawn on random and non-random basis. Steps in sampling Process: The following are the steps in the sampling process. 1). Define the population: Population refers to the entire group of people, events or things of interest that wishes to investigate. While executing sampling process the researcher should make sure that the population is pre-defined. 2). Determine the sample frame: The next step of a sampling process is to determine the sample frame. The researcher should investigate “what kind of sampling frame is available?’ this will help the researcher to draw conclusion about the Generalizability of population interest. 3). Determine the Sample Design: There are two major types of sampling designs, Probability and Non- probability sampling. In probability sampling, the elements in the population have some known chances or probability of being selected as sample subjects. In non-probability sampling, the elements do not have a known or pre-determined chance of being selected as subjects. Probability sampling designs are used when the representativeness of the sample is of importance in the interest of wider Generalizability. When time and other factors, rather than the Generalizability become critical, non-probability sampling is generally used. The researcher should determine what type of sample design is of his work. 4). Determine appropriate sample size: The next step in sampling process is the appropriation of sample size as to how and what sample size is needed? And in what percentages the sample subjects should be included in sample. 5). Execute the sampling process: The researcher should keep in mind two things, what costs are attached to the sampling design? And how much time is available to collect the data from the sample, this is so far the most important step in sampling process.
  • 25 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.20 What is sample size and what are the factors, which determine the sample size. Ans.: Sample size: It is the important part of research in which the researcher finds out the exact sample size for the study. The researcher carefully selects the sample size because the results of the study relates to the sample size. Factors Determing sample size: i). Precision: It refers to how close the estimates of sampling to the population characteristics; precision is the range of variability in sampling distribution. ii). Level of confidence: It denotes that hoe much we are confident that results of sample will be true. There are three level of confidence. 90% confidence level 95% confidence level 99% confidence level Example: Data given, Sample = 64 × = 105 S = 10 Standard error = S× = ? µ = x ± Ksx (i). µ = 105 ± 1.645 × (1.25) = [µ =107, µ = 102 ] (ii). µ =105 ± 1.96 × (1.25) = [µ =107, µ = 102 ] (iii). µ =105 ± 2.579 × (1.25) = [µ =108, µ = 101 ]
  • 26 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.21 What do you mean by probability and Non-probability Sampling Techniques, explain in Detail, also discuss advantages and Dis-advantages of each Technique? Ans.: A). Probability Sampling: 1). Simple Random Sampling: All elements in the population are considered and each element have an equal chance of being chosen as the subject. Advantages: i). High Generalizability of findings. Disadvantages: i). Not as efficient as stratified sampling. 2). Systematic Sampling: Every nth element in the population is chosen starting from a random point in the population frame. Advantages: i). Easy to use if population frame is available. Disadvantages: i). Systematic biases are possible. Probability Sampling Simple Random Sampling Systematic Sampling Stratified Random Sampling Proportionate Str; R. Sampling Disproportionate Str; R. Sampling Cluster Sampling Area sampling Double Sampling Non-Probability Sampling Convenience Sampling Judgment Sampling Quota Sampling
  • 27 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 3). Stratified Random Sampling: Population is divided into meaningful segments. a). Proportionate stratified random sampling: Subjects are drawn in proportion to their original numbers in population. b). Disproportionate stratified random sampling: Based on criteria other than their original population numbers. Advantages: i). Most efficient among all probability designs. ii). All groups are adequately sampled and comparisons among groups are possible. iii). Based on Criteria. Disadvantages: i). Stratification must be meaningful. ii). More time consuming than simple random sampling and systematic sampling. iii). Population frame for each stratum is essential. 4). Cluster Sampling: Groups that have heterogeneous members are first identified, than some are chosen at random, all members of each randomly chosen groups are studied. a). Area Sampling: Cluster sampling within an area or locality. b). Double Sampling: The same sample or subset of a sample is studied twice. Advantages: i). In geographic Clusters, cost of data collection are low. ii). Cost-effective useful for decisions relating to particular location. iii). Offers more detailed information on the topic of study. Disadvantages: i). The least reliable and efficient among all probability sampling designs since subsets of cluster are more homogeneous than heterogeneous. ii). Takes time to collect data from an area. iii). Original biases, if any will be carried over. iv).Individuals may not be happy responding a second time. B). Non-Probability Sampling: 1). Convenience Sampling: The most easily accessible member’s are chosen as subjects. Advantages: i). Quick, Convenient, less expensive. Disadvantages: i). Not generalizable at all. 2). Judgment Sampling: Subjects selected on the basis of their expertise in the subject investigation. Advantages: i). Some times, the only meaningful way to investigate. Disadvantages: i). Generalizability is questionable, not generalizable to entire population.
  • 28 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 3). Quota Sampling: Subjects are conveniently chosen from targeted groups according to some predetermined number or quota. Advantages: i). Very useful where minority participation in a study is critical. Disadvantages: i). Not easily generalizable. Q.22 What do you mean by data presentation Techniques; Explain its different kinds with the help of examples. Ans.: Data Presentation Techniques: The device of data gathering often results in a massive volume of statistical data, which are in the form of individual measurements and counts. It is difficult to learn anything by examining the unorganized data which is more often confusing than clarifying. The mass of data therefore to be organized condensed into a form that can be easily and more rapidly understood and interpreted. For this purpose techniques of classification, tabulation and graphic display are presented. Aim’s of Data Presentation Techniques: i). Making Summary: To reduce the large set of data to an easily understood summary. ii). Differentiate Similarity: To display the points of similarity and dissimilarity. iii).Eliminating unnecessary details: To save mental strain by eliminating unnecessary details. iv). Important aspects: To reflect important aspects of data. v). Conclusion: To prepare comparison ground and inferences. Kinds of Data Presentation Techniques: Information in a written report can be presented in four main forms. i). Diagrams. ii). Graphs. iii). Tables of frequency distribution. iv). Charts. i). Diagrams: Diagrammatic representation is best suited to spatial series and data split into different categories. Whenever a comparison of the same type of data at different places is to be made, diagrams will be the best way to do that. This method of presentation is excessively used in business and administration. There are mainly three types of data presentation diagrams. a). Simple Bar Diagram: A simple bar diagram consists of horizontal or vertical bar’s of equal width and lengths proportional to values they represent. Example: Turnover of a company for six years. Year’s 1981 1982 1983 1984 1985 1986 Turnover (Rs.) 38,000 45,000 48,000 52,500 55,000 58,000
  • 29 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. b). Multiple Bar Diagram: A multiple bar diagram shows two characteristics corresponding to the values of common variable in the form of grouped bars, whose lengths are proportional to the values of the characteristics, and each of which is shaded and colored differently to add identification. This is good for the comparison of two or three kinds of information. Example: Area and Production/acres of cotton in Punjab. Years 1965-66 1970-71 1975-76 Area (In acres). 1300 1500 1800 Production (In Bales). 2600 3100 3800 c). Component bar diagram: A component bar diagram is an effective technique in which each bar is divided into two or more sections, proportional in size to the component parts of a total being displayed by each bar. The various component parts shown as sections of the bar are shaded or colored differently to increase the overall effectiveness of the diagram. Example: Peoples population of four cities, Rawalpindi, Peshawar, Sargodha, and Lahore. 0 10000 20000 30000 40000 50000 60000 70000 1981 1982 1983 1984 1985 1986 Simple Bar Chart 0 500 1000 1500 2000 2500 3000 3500 4000 1965-66 1970-71 1975-76 Multiple Bar Diagram production in Bales Area in Acres Cities Rawalpindi Peshawar Sargodha Lahore Male 80,000 50,000 20,000 90,000 Female 40,000 35,000 30,000 60,000
  • 30 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. ii). Graphs: Graph’s presents the data in a simple clear and effective manner, facilitate comparison between two or more than two statistical series, and helps us in appreciating their significance readily. Another advantage of graphs is that they provide an overall picture of a statistical series. Graphs are also sometimes used to make predictions and forecasts. a). Histograms: A curve showing changes in the value of one or more items from one period of time to the next is known as the graph of time series. This curve is also called Histogram. Example: The Number of car’s produced in Germany during the Years 1929 – 1936. Year’s 1929 1930 1931 1932 1933 1934 1935 1936 No. of car’s 98 74 68 50 99 172 245 302 0 20000 40000 60000 80000 100000 120000 140000 160000 Rawalpindi Peshawar Sargodha Lahore Component Bar Diagram Female Male 0 50 100 150 200 250 300 350 1928 1929 1930 1931 1932 1933 1934 1935 1936 No. of Car's Years Histogram Histogram Curve
  • 31 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. iii). Charts: They are the diagrams or pictures that represents statistical data. a). pie-Chart: A pie-chart is a graphic device consisting of a circle divided into sectors or pie-shaped pieces whose area’s are proportional to the various parts into which the whole quantity is divided. The sectors are shaped or colored differently to shoe the relationship of parts to the whole. Example: The Expenditures on various items of a family by a pie-diagram. Items Food Clothing Rent Fuel Misc Expenditures (in %age.) 50 30 10 5 5 b). Pictogram: A pictogram is a popular device for portraying the statistical data by means of pictures or small symbols. It is said that a picture is worth ten thousand words. Example: The No. of Employees in a certain textile mill. Year’s No. of employee’s 1950 2000 1955 3000 1960 4500 Food 50% Clothing 30% Rent 10% Feul 5% Misc 5% Pie-Chart
  • 32 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. iv). Tables of frequency distribution: The organization of a set of data in a table showing the distribution of the data into classes or groups together with the number of observations in each class or group is called table of frequency distribution. The purpose of a frequency distribution table is to produce a meaningful pattern for the overall distribution of the data from which conclusions can be drawn. Q.23 Write a short Note on Editing of Data. Ans.: Editing of Data: Data is edited, especially when they relate to responses to open-ended questions of interviews and questionnaires, or unstructured observations. In other words, information that may have been noted down by the interviewer, observer or researcher in a hurry must be clearly deciphered so that it may be coded systematically in its entirely. Lack of clarity at this stage will result later in confusion. It is recommended that such editing should be done preferably the very same day the data are collected so that the respondents may be contacted for any further information or clarification, as needed. The edited data should be identifiable through the use of different color pencil or ink so that the original information is still available in case of further doubts. Much of the editing is automatically taken care of in the case of computer-assisted telephone interviews and electronically administered questionnaires, even as the respondents are answering the questions. Q.24 What do you mean by Report Writing, Explain the Integral parts of Report Writing. Ans.: Research Report Writing: It is a document prepared by the researcher when all the work is done. After doing the analysis and interpretation of the data the researcher is in a position to finally write down the complete research report. It is the very important final step in the research because all the hard work done would be presented to higher authorities or the party concerned. Integral parts of Report Writing: The integral parts of the research report are 1). Title page: It is the first page of a formal report which includes the title of the problem, the name of the person or organization for whom the report is made and the name of the person who had written the report. It is suggested that the title of the problem should be concise and exact which describe or represent the entire report. 2). Letter of Authorization: It is a type of letter which authorizes the researcher to conduct the research and then finally submit the report. It includes the name of the parties, date and brief description of the research. 3). Certificate: It is the type of certificate issued by the report writer that the report is made by him and all the data collected is original in nature. It is a kind of declaration. 2000 3000 4500 1950 1955 1960 Pictogram
  • 33 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. 4). Table of contents: It is the Sequence of the report in Chapters/ sections the corresponding page number is given. It is written when all the report is finally made. 5). Abstracts/Executive Summary: It is the snap shot of the study. It represents the objectives of the research, methodology of the research and findings of the research. 6). Introduction: The introductory section starts with a statement of the problem under investigation. The research objective, together with background information of why and how the study was initiated, will also be stated. 7). Main body of the Research: It is the longest part of the report which cover all the data collected by the researcher presented in the form of graphs, pie-charts, tables and frequency distribution. The researcher presents the facts in such a manner that it will answer the questions raised at the beginning of the research similarly the data is combined in the form of logical manner that provides the meaningful results. 8). Analysis of the Data: In this part of the report the researcher utilize different statistical techniques to analyze the data. It depends upon the research that which technique is adopted with the help of this analysis the research would reach on result of the study. 9). Interpretation of Results: In this part of the research report the researcher would interpret the results on the basis of data analysis he will reach on results drawn from the study. 10). Conclusion: It deals with the summing up of the study which is prepared after all the work is done. The researcher will conclude the entire study with findings of the study. 11). Suggestions/Recommendations: Upon the basis of researcher study he will suggest some measures to solve the problems and sometimes he also recommends the solution of the problem. 12). Appendix (Annexure): It is the part of report in which the researcher would attach the important documents at the end of report which includes, Questionnaire, government statements of the facts and so on. 13). Bibliography: It is the alphabetical indexing of the author at the end of the report which provides the evidence of data collection. Q.25 Describe the two types of Report, Formal and Informal, also explain the Importance of Research Report. Ans.: There are two types of Research Report.  Formal Reports  Informal Reports 1). Formal Report (Long Report): It is the final document prepared in a sequence by the researcher and thoroughly explains about the research problem. Such Type of research is lengthy and divided into sections/chapter. 2). Informal Report (Short Report): It is about two or three pages long and it describes the problem in the form of short report presented when the management requires quick Results. Importance of Research Report: Research report holds a very important place in the whole process of the research. The research report presentation is the final step and conclusion of the all research work done without a formal report, research findings cannot be presented. Any kind of verbal presentation regarding the problem is not considered at all by the management. Suggestions and recommendations are given by the researcher in the report so the manager or sponsors makes decisions on the basis of research report. This report than becomes a part of important journals and becomes the source of secondary data and help further researches. So the importance of the research report cannot be denied.
  • 34 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.26 What are the Characteristics of good Research Report. Ans.: Some important features of a good research report are. 1). Clarity: The report should to the extent possible, be free of technical and statistical jargon unless it happens to be of a technical and statistical nature. Care should also be taken to eliminate grammatical and statistical errors. 2). Conciseness: The research report should not be too lengthy that it irritates the reader it should be short but concise. 3). Coherence: A research report should be coherent which means that each part of the report should be related directly to the other parts of the report. This quality makes the report easy to read. Each sentence flows smoothly into the next, and each paragraph connects with the other. 4). The Right emphasis on Important aspects: Important aspects of the Research report should be emphasized and highlighted so the reader can comprehend. 5). Organization of paragraphs: Appropriate headings and subheadings to the paragraphs where needed helps to organize the report in a logical manner and allow the reader to follow the transitions easily. 6). Apt Choice of words: Words and languages should be used that are appropriate and easily and widely understandable. 7). Appearance: A double-spaced typed report with wide margins on all sides enables the reader to make notes/comments while perusing the contents. 8). Assumptions/Recommendations: Any assumptions made by the researcher should be clearly stated in the report and suitable recommendations will increase the beauty of the report. Q.27 Define Model and How will you Construct a Model. Ans.: Model: It is an abstract of real situation presented by the researcher having objectives of sampling a complex procedure, it is a sketch in which we further define the study. How to construct a model: In model building we point out the factor’s which will be helpful in the future study and helpful to get the objective. Research model building is helpful to every researcher who have the difficulty in defining the technical elements of research, wither it is the applied research or pure research. Model building is used when a researcher express his thoughts in the form of a model, his objective is to present his ideas in such a way that it must provide the logical reasoning to the reader or manager such as marketing researcher design a marketing process of a product. He describes all the steps of the research in the form of a model that is i.e. Research Process Model. In this model the researcher describes in detail that how to introduce the product in the market and what are the elements which can make the marketing process successful. Model building initiates the activity on paper before going to the field to conduct the research. When applied researcher conduct the process of investigation, he also describes the real world situation in the form of the model and then proceed into the field to perform the activities which are shown in the model building approach is commonly utilized by all the researchers with the object to simplify the procedure of investigation and getting help from the model set a parameter area of research.
  • 35 Written & Composed by: Mohammad Masood Babar, M.Com – II, 2012 – 2014. University Of Balochistan, Quetta. Q.28 Explain the different types of Model. Ans.: Types of Model: There are four types of models.  Physical Model  Empirical Model  Analog Model  Symbolic Model i). Physical Model: This kind of model is called physical model due to its physical description, it is constructed near to reality in solid shape. It represents the real life objective in the form of a model, basically the researcher visualizes the events which will happen in future and transform the visualization of physical model into reality. E.g An architect designs the model of building in different rooms and other utilization in the same way. Engineers build the map of abridge and the constructor ha to follow the same line. ii). Empirical Model: It is constructed to describe the complex process, models, parameters are estimated for testing the data. These models provide an understanding of the complex process and suggest now direction in the research. Usually the researcher design the empirical model with the objective to formulate a relationship among variables present in the situation after the establishment of the relationship on the latter stages i.e. the manger of an organization can establish the process of testing between the good performance and bad performance. He will establish the relationship with the help of data collected on the earlier stages similarly the researcher can establish the empirical model on demand and supply or economic theory, economic policy there empirical models impact the business. Empirical models are commonly used (all models of books are empirical model). iii). Analog Model: In this type of model properties of phenomenon of interest are presented by another set of properties i.e. the presentation of piece of land can be done by the use of map analog models provide the system of inquiry, utilization in the set of parameters that exists in the original system for the researcher although it is difficult but it provides the necessary information which actually exists. In the situation and helps the researcher to formulate his activities accordingly. Another example of analog model can be map of a city or a country which shows the roads, highways, towns etc. iv). Symbolic Model: Symbolic models represent the system or reality by applying mathematical symbols and its relationship. Symbolic models are also called mathematical model. In this model symbolic words and signs are used to represent the reality they are very much useful in creating the mathematical relationship or problems are defined in statistical models. It can help and guide the researcher towards the completion of research process. It is very important source of information to get the accurate information with the help of symbolic model mostly the researcher utilize this model as it provides all the necessary information required at the time of collection of data. Mapping are the important tools and source for the researcher when he adopts the symbolic model, while preparing the map it is clearly mention while approaching to the respondent what method should be adopted. Basically this model is constructed to help out the sampling process when the researcher collects the data. They keep the map of the region to solve the problem. Some examples of symbolic models are graph, pie-chart and figure which represent mathematical equation of some sort of statistical description, when using statistical data we can also infer results.