1st Chapter Business Research Method.


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1st Chapter Business Research Method.

  1. 1. 1st chapter Business Research Method Studies By Venkatesh.N Koshys Institute of Management
  2. 2. 1 Introduction to Research  1.1What is research?  Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.
  3. 3. 1.2.What is business research? • Research provides the needed information that guides managers to make informed decisions to successfully deal with problems. • The information provided could be the result of a careful analysis of data gathered firsthand or of data that are already available (in the company).
  4. 4. Objectives of research    The objectives of a research project summarize what is to be achieved by the study. These objectives should be closely related to the research problem. The general objective of a study states what researchers expect to achieve by the study in general terms. It is possible (and advisable) to break down a general objective into smaller, logically connected parts. These are normally referred to as specific objectives. Specific objectives should systematically address the various research questions. They should specify what you will do in your study, where and for what purpose.
  5. 5.  Why should research objectives be developed?  The formulation of objectives will help you to:  Focus the study (narrowing it down to essentials); Avoid the collection of data which are not strictly necessary for understanding and solving the problem you have identified; Organize the study in clearly defined parts or phases. Properly formulated, specific objectives will facilitate the development of your research methodology and will help to orient the collection, analysis, interpretation and utilization of data.   
  6. 6. How should you state your objectives?  It is important that your objectives are stated in a good way. Take care that the objectives of your study:  Cover the different aspects of the problem and its contributing factors in a coherent way and in a logical sequence;  Are clearly phrased in operational terms, specifying exactly what you are going to do, where, and for what purpose; Are realistic considering local conditions; 
  7. 7. Contd…   Use action verbs that are specific enough to be evaluated (Examples of action verbs are: to determine, to compare, to verify, to calculate, to describe, and to establish). Avoid the use of vague non-action verbs (Examples of non-action verbs: to appreciate, to understand, or to study). Keep in mind that when the project is evaluated, the results will be compared to the objectives. If the objectives have not been spelled out clearly, the project cannot be evaluated.
  8. 8. Introduction Research approaches     The clear identification of the approaches to the research can be made only by analyzing the different types of research The very basic purpose of conducting the descriptive (straightforward) research work is to analyze the facts and investigate the existing situation. It focus mainly on the different dimension of the problems under study. The researcher doesn’t have any control over the variable(unpredictable) associated with research.
  9. 9. Applied research    The purpose of applied research is to find a solution to the immediate problems faced by the society. It is action oriented research study. Pure Research:-the pure research aim at finding some thing to the society . it is an in-depth scientific research focused in developing knowledge to the society. It is also called as fundamental research brings new ideas, to the existing body of the knowledge.
  10. 10. Quantitative research   Quantitative research is based on the quality or the amount. The outcome of the study is presented through monetary or numerical terms. The qualitative approaches are popularly used to find the behavior of the people under study.
  11. 11. Quantitative approach    If the sales of the company is connected with the profit for the previous years, it is clearly gives the confidence to the researcher to draw the conclusion that sales and income or profit are directly related to each other, and when the sales is increases, profit of the company is increases . The quantitative approaches of analysis used regularly the different types of qualitative analysis. The analysis will be based on the numerical , percentage and in the monetary terms. Further quantitative research also consists of usage of many statistical tolls like arithmetic mean, median,
  12. 12. Qualitative Approach  It is based on subjective examination of behavior, attitude, opinions, behavior impressions etc….the simplification of research support are mainly made on the basis of non qualitative terms, in other wards, by adopting group discussion, group interviews, projective techniques, in-depth interviews of the respondents etc..
  13. 13. Exploratory or Formulative research Exploratory research is preliminary study of an unfamiliar problems about which the researcher has little or no knowledge. It is similar to a doctors initial investigation of a patient suffering from an unfamiliar malady for getting some clues for identifying it.
  14. 14. 1.3.Types of Business research.      1.Applied research Is to solve a current problem faced by the manager in the work setting, demanding a timely solution. 2.Basic research (fundamental, pure) Is to generate a body of knowledge by trying to understand how certain problems that occur in organizations can be solved. The findings of such research contribute to the building of knowledge in the various functional areas of business.
  15. 15. Why is it important for managers to know about research?       Solve problems Decision making tool Competition Risk Investment Hire researchers and consultants more effectively
  16. 16. 2 Scientific Investigation          1 Observation 2 Identification of problem area 3 Theoretical framework 4 Hypotheses 5 Research design 6 Data collection 7 Data analysis 8 Data interpretation 9 Implementation
  17. 17. 1.Observation – 2. Identification of problem area 3. Theoretical framework
  18. 18. 4 Hypotheses— 5 Research design- 6 Data collection-
  19. 19. 7 Data analysis- 8 Data interpretation- 9 Implementation-
  20. 20. 4. Hypotheses- Definition: A hypothesis is a tentative statement about the relationship between two or more variables.(unpredictable) A hypothesis is a specific, testable prediction about what you expect to happen in your study. For example, a study designed to look at the relationship between sleep deprivation(loosing something) and test performance might have a hypothesis that states, "This study is designed to assess the hypothesis that sleep deprived(loss) people will perform worse on a test than individuals who are not sleep deprived."
  21. 21. The seven-step process in the Hypothetico-Deductive method        1 Observation 2 Problem identification  preliminary information gathering 3 Theoretical framework  theory formulation 4 Hypothesizing 5 Research design  further scientific data collection 6 logical analysis 7 Deduction
  22. 22. The seven-step process  problem statement is a clear, defined, and brief statement of the question or issue that is to be investigated with the goal of finding an answer or solution.  Theoretical framework is the foundation on which the entire research project is based. It is logically developed,described,and elaborated network of associations among the variables relevant to the problem situation.  A hypothesis is a tentative(uncertain) statement that proposes a possible explanation to some phenomenon or event. A useful hypothesis is a testable statement which may include a prediction. A hypotheses should not be confused with a theory.  .
  23. 23. Contd….  Data analysis: the data gathered are statistically analyzed to see if the hypotheses that were generated have been supported.  Measurement is the process observing and recording the observations that are collected as part of a research effort.  Deduction is the process of arriving at conclusions by interpreting the meaning of the data analysis results
  24. 24. What is meant by approach?  It is the whole design including; assumptions, the process of inquiry, the type of data collected and the measuring of findings.
  25. 25. Split the overall research design into the following parts:     (a) sampling design  the method of selecting items to be observed; (b) observational design  the conditions under which the observations are to be made; (c) statistical design  the question of how many items are to be observed and how the information and data gathered are to be analysed; (d) operational design  the techniques by which the procedures specified in the sampling, statistical and observational designs can be carried out.
  26. 26. 45/42  The important features of a research design  (i) a plan   (ii) a strategy   specifies the sources & types of information relevant to the research problem which approach will be used for gathering and analyzing the data. (iii) the time and cost budgets  most studies are done under these two constraints
  27. 27. 46/42  Research design must, at least, contain—  (a) a clear statement of the research problem;  (b) procedures and techniques to be used for gathering information;  (c) the population to be studied;  (d) methods to be used in processing and analyzing data
  28. 28. Researcher′s work in graphic form Results Research Plan of research Met hods Aims of research H y p o t h e s i s Review of literature Searching for scientific problem Aztec Pyramide
  29. 29. The Research process The research process should be understood as one of ongoing planning, searching, discovery, reflection, synthesis, revision, and learning, as shown in the figure 
  31. 31. Information needs in business    Almost every organization has to engage in research at some level to stay competitive. Companies gather data both from within and outside the organization. The methods used to gather,analyze,and synthesize information from the external and internal environments are becoming increasingly complicated to the huge scope of computer technology.
  32. 32. Computer Technology and Business     ICT Information Communication Technology
  33. 33. The research process            1 Observation 2 Data gathering 3 Problem definition 4 Theoretical framework (variables identified) 5 Hypotheses 6 Research design 7 Data collection,analysis,interpretation 8 Deduction 9 Report writing 10 Report presentation 11 Managerial decision making
  34. 34. Research design  Purpose of the study:  Exploratory (Investigating) study  Is undertaken when no information is available on how similar problems or research issues have been solved in the past  Descriptive (straight forward)study  Is to able to describe the characteristics of the variables of interest in a situation.
  35. 35. Contd….  Hypotheses testing  Is undertaken to explain the difference in the dependent variable (changeable) or to predict organizational outcomes  Case studies  Research design can be thought of as the structure of research -- it is the "glue" that holds all of the elements in a research project together
  36. 36. Data collection methods       Data can be collected in a variety ways ,data sources can be primary or secondary. Data collection methods such as: interview(face-to-face,telephone,computer-assisted interviews), Questionaires Observation Motivational techniques
  37. 37. Sampling     A sample is a subset of the population. Sample is the process of selecting a sufficient number of elements from the population. Studying a sample rather the entire population is sometimes to lead to more dependable results, mostly because fatigue(energy) is reduced, resulting in fewer errors on collection data. (time, cost, human resources) Surveys are useful and powerful in finding answers to research question but if data are not collected from the people or objects that can provide the correct answers to solve the problem, the survey will be in ineffective.
  38. 38. Data Analysis and Interpretation  The data analysis involves three major steps, done in approximately this order:  Cleaning and organizing the data for analysis (Data Preparation)  Describing the data (Descriptive Statistics)  Testing Hypotheses and Models (Inferential Statistics)
  39. 39. Statistics methods  Central tendency
  40. 40. The Research Report  Researh proposal  Research report  Research presentation
  41. 41. Research report articles vary in how they are organized, :  Abstract (theoretical) - Brief summary of the contents of the article (peace of writing)  Introduction - A explanation of the purpose of the study, a statement of the research question(s) the study intends to address  Literature review - A critical assessment of the work done so far on this topic, to show how the current study relates to what has already been done  Methods - How the study was carried out (e.g. instruments or equipment, procedures, methods to gather and analyze data)
  42. 42. Contd…  Results - What was found in the course of the study  Discussion - What do the results mean  Conclusion - State the conclusions and implications of the results, and discuss how it relates to the work reviewed in the literature review; also, point to directions for further work in the area
  43. 43. Research Method v/s Research Methodology     We can say that research methodology has many dimensions & research method do constitute a part of the research methodology The scope of research methodology is wider than that of research methods. Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically
  44. 44. Contd…  In it we study the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them
  45. 45. R. Method v/s R. Methodology • Research methodology explains the methods by • Research method are which you may proceed the methodology which with your research. you conducted research • Research methodology in to a subject or a involves the learning of topic. the various techniques • Research of experiment that can be used in the tests surveys and the conducted of research & like. in the conduct of tests, experiment , surveys , critical studies search
  46. 46. Contd… • Research methods aim at finding solutions to research problems. • Research methodology aim at the employment of the correct procedure to find out solution. • If the subject for research is employment of figure of speech in English literature • If the subject for research is employment of figure of speech in English literature
  47. 47. Contd… • Then the research method that are involved are study of various works of the different poets & the understanding of the employment of figure of speech in their works • Than the research methodology pertaining to the topic mentioned above involves the study about the tools of research, collation of various manuscripts related to the topic, techniques involved in the critical edition of these manuscripts and
  48. 48. Contd… • If the subject into which • If the subject into which you conduct a research you conduct a research is a scientific subject or is a scientific subject or topic. topic. • The research methodology pertaining • Then the research to the scientific topic methods include involves the techniques experiment, tests, study regarding how to go about conducting the of various other results research, the tools of of different experiment research , advance performed earlier in techniques that can be relation to the topic or used in the conduct of the experiment and the the subject & the like like
  49. 49. Research Proposal    Title Page Abstract (on a separate single page) The Body (no page breaks between sections in the body)  Introduction (2-3 pages)  Methods (7-10 pages)  Sample (1 page)  Measures (2-3 pages)  Design (2-3 pages)  Procedures (2-3 pages)  Results (2-3 pages)  Conclusions (1-2 pages)
  50. 50. Contd…. References  Tables (one to a page)  Figures (one to a page)  Appendices 
  51. 51. Question?         How can you solve business problem? Why do you need to know how to write the research proposal? Do you understand the research process? Do you know why do you have to identify problem statement clearly before doing research? Do you know why sampling and statistics are important to the research result? Why do you have to identify the limitation of your study? Why the research report and presentation are important? Do you know how to apply the steps of the research process ?
  52. 52. Questions       1.If you want to set up a coffee shop near the university and school, what is your research topic? 2.Identify the problem statement. 3.Identify the objectives 4.The hypotheses 5. The research methodology. 6. The examples of the questionnaireใ
  53. 53. Any Questions