Meaning and definitions of Research Business Research Methods Dr. Kasamsetty Sailatha HOD, PG Dept. of Commerce, Vidya Vikas First Grade College, Mysore.
• Introduction• Meaning and Definition of Research• Definition of Business Research• Why study Business Research?• Importance/Role of Business Research
• Introduction about Research: –Search for knowledge or systematic investigation to establish facts. –Literally, research means (re-search) or search again for the knowledge/solutions to solve the existing problems. – search for new knowledge or to develop new concepts and theories. –The systematic inquiry which provides information for decision making.
• Meaning of Research: – Research means discovering, interpreting and the development of methods and systems for the advancement of human knowledge on a wide variety of scientific matters of world and the universe.• Definition of Research: 1. Grinnell: “the word research is composed of two syllables, re and search. The dictionary defines the former as a prefix meaning again, a new or over again and the latter as a verb meaning to examine closely and carefully, to test and try, or to probe. Together they form a noun describing a careful, systematic, patient study and investigation in some field of knowledge, undertaken to establish facts or principles.” 2. Webster Dictionary: “a Careful inquiry or examination in seeking facts or principles: diligent investigation in order to ascertain something.” 3. Robert Ross: “research is essentially an investigation, a recording and analysis of evidence for the purpose of gaining knowledge.” 4. Fred Kerlinger: “Research is an organized inquiry designed and carried out to provide information for solving a problem.”
5. Francies Rummel: “Research is a careful inquiry or examination to discover new information or relationships and to expand and to verify existing knowledge.”6. Clifford Woody: “Research comprises of defining and redefining problems, formulating hypothesis or suggested solutions; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis” • Deductive theory or reasoning: also known as logical deduction, is the process of reasoning from one or more general statements regarding what is known to reach a logically certain conclusion. Deductive reasoning involves using given true premises to reach a conclusion that is also true.
• An example of a deductive argument: – All men are mortal. – Socrates is a man. – Therefore, Socrates is mortal. The first premise states that all objects classified as "men" have the attribute "mortal". The second premise states that "Socrates" is classified as a "man" – a member of the set "men". The conclusion then states that "Socrates" must be "mortal" because he inherits this attribute from his classification as a "man".
Process Problem Inquiry Information Problem Solving Feed back7. 5. C.C. Crawford: “is a simply a systematic and refined technique of thinking, employing specialized tools, instruments and procedures in order to obtain a more adequate solution of a problem than would be possible under ordinary means. It starts with a problem, collects data or facts, analyses these critically and reaches decisions based on the actual evidence. It evolves original work instead of mere exercise of personal opinion.”
8. 6. George G. Mouly: “Reseach is considered to be the more formal, systematic, intensive process of carrying the scientific method of analysis. It involves a more systematic structure of investigation, usually resulting in some sort of formal record of procedures and report of result or conclusions.”9. 7. R.R. Rusk: “Research is a point of view, an attitude of inquiry or a frame of mind. It asks questions which have hitherto (up till now) not been asked and it seeks t answer them by following a fairly definite procedure. It is not a mere theorizing, but rather an attempt to elicit fact and to face them once they have assembled ”
10.Francis G. Cornell: “the activity of collecting information in an orderly and systematic fashion. Research is, literally speaking, a kind of human behaviour, an activity in which people engage. In education, teachers, administrators, scholars or others engage in educational research when they systematically assemble information about schools, school children, the social matrix in which a school system is determined. The characteristics of the learner or the interaction between the school and pupils.”
11. Slesinger and Stephenson: “the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge. Whether the knowledge aids in construction of theory or in the practice of an art.”12. W.S. Monroe: “a method of studying problems whose solutions are to e derived partly or wholly from facts. The facts dealt with in research may be statements of opinion, historical facts, those contained in records and reports, the results of tests, answers to questions, experimental data of any sort and so forth. The final purpose of educational research is to ascertain principles and develop procedures for use in the field of education; therefore, it should conclude by formulating principles or procedures. The mere collection and tabulation of facts is not research, though it may be preliminary to it on even a part thereof.”
13. Francis Bacon: “Research is a power of suspending judgment with patience, of meditating with pleasures, of asserting with caution, of correcting with readiness and of arranging thought with scrupulous plan ” Systematic techniques Scientific tool Suggestion and Discover Analysis of for finding recommendations Facts facts solution Feed back
• Definition of Business Research: 1. “Business research is defined as the systematic and objective process of generating information for aid in making business decisions.” • The above definition suggests: 1. Research information is neither intuitive nor haphazardly gathered. 2. The information generated or data collected and analyzed should be accurate. 3. The objective is to facilitate the managerial decision-making process for all aspects of a business: finance, marketing, personnel, and so on. 4. An essential tool for management in its problem-solving and decision-making activities, business research generates and provides the necessary qualitative or quantitative information upon which to base decisions. By reducing the uncertainty of decisions, research reduces the risk of making wrong decisions.
2. “Business research is a systematic inquiry that provides information to guide managerial decisions. More specifically, it is a process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize business performance.”
• Why study Business Research?• Is it to solve day to day problems? ex. Restaurant and ROI Mobile phone• Business has to work with internal and external environment.
• Importance of Research in Management/Role of Business Research: – The role of research has increased in the field of business and economy as a whole. – Because it provides the knowledge and skills to solve the problems and meet the challenges of today’s modern pace of development. – The following factors stimulate people to conduct an inquiry of a management dilemma, the problem or opportunity that requires a management decision. 1. Increased role of information technology; 2. Active role of stakeholders; 3. Cut throat competition;
4. Increased governments intervention;5. More complex decisions;6. Development of management as a group of disciplines;7. Greater computing power and speed: a. Lower-cost data collection; b. Better visualization tools; c. Powerful computations; d. More integration of data; e. High speed access to information; f. Advanced analytical tools for enhanced insights; g. Customized reporting8. New perspectives on established research methodologies.