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Nature and scope of research methodology

Research is the systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.

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Nature and scope of research methodology

  1. 1. Presented by Abhijeet Birari UNIT I NATURE AND SCOPE OF RM
  2. 2. LEARNING OUTCOME Students should be able to apply tools and techniques of research for the purpose of management decision making.
  3. 3. TODDLER 1-4 5-8 9-10 +1 & +2 G PG 5% 10% 30% 50% 70% 80% 95% STUDENT’S CONTRIBUTION TEACHER’S CONTRIBUTION 95% 90% 70% 50% 30% 20% 5% STUDENT VS TEACHER’S CONTRIBUTION IN LEARNING
  4. 4. UNIT 1 Introduction to research Definition Research from view point of Individual Company Society Types of research Basic Applied Process of research Application of research Marketing HR Finance POM Features of good research Summary
  5. 5. WHAT IS RESEARCH?
  6. 6. RESEARCH SCIENTIFIC AND SYSTEMATIC INVESTIGATION OF TRUTH
  7. 7. RESEARCH - OTHER DEFINITIONS “A careful investigation or enquiry, specially through search for new facts in any branch of knowledge.” – Advanced Learner’s Dictionary “Systematized effort to gain new knowledge.” – Redman and Mory “Scientific research is a systematic, controlled and critical investigation of propositions about various phenomena.” – Grinell (1993)
  8. 8. FROM INDIVIDUAL’S VIEW POINT
  9. 9. ANSWER THE QUESTION Which movie should I go for?
  10. 10. ANSWER THE QUESTION Which bike should I buy?
  11. 11. ANSWER THE QUESTION In which institute should I do MBA?
  12. 12. ANSWER THE QUESTION How effective is Yoga for my health?
  13. 13. ANSWER THE QUESTION Is there any difference between IQ of girls and boys?
  14. 14. FROM COMPANY’S VIEW POINT
  15. 15. ANSWER THE QUESTION Is the new advertisement of the product effective?
  16. 16. ANSWER THE QUESTION Should my company launch a new product?
  17. 17. ANSWER THE QUESTION How many sales persons should we recruit?
  18. 18. ANSWER THE QUESTION Are customers satisfied with the services of our company?
  19. 19. ANSWER THE QUESTION Has promotion made a positive impact on performance of company?
  20. 20. FROM SOCIETY’S VIEW POINT
  21. 21. ANSWER THE QUESTION Has setting up a traffic signal reduced the traffic jam/accidents?
  22. 22. ANSWER THE QUESTION Has Jan Dhan Yojna been able to achieve it’s objective?
  23. 23. ANSWER THE QUESTION What policies should be made to reduce farmer’s suicides?
  24. 24. ANSWER THE QUESTION Has industrialization resulted into increased pollution? Reasons and remedies?
  25. 25. ANSWER THE QUESTION Which is the most influencing factor for poverty in India?
  26. 26. WHAT IS COMMON IN ALL THE QUESTIONS? …. APART FROM RESEARCH
  27. 27. PROBLEM AND CURIOSITY IS THE ROOT CAUSE OF RESEARCH NECESSITY IS THE MOTHER OF ALL INVENTIO NS
  28. 28. TYPES OF RESEARCH
  29. 29. BASIC RESEARCH APPLIED RESEARCH • What is causing increased poverty? • How can cyber security be improved? • Is technology use for children helpful or harmful? • What changes are necessary to create jobs? • How can obesity be prevented? • In what ways can depression be managed without medication? • Is multi-tasking helpful or hurtful? • Is earth flat? • Does each person have unique finger print? • How many planets are there in our galaxy? • Why did apple fell? • Why/how does it rain? • Which is more relevant? IQ or EQ?
  30. 30. TOP 10 COMPANIES BY R & D SPENDING
  31. 31. MERCK $7.5 BILLION (17% OF REVENUE) 10
  32. 32. GOOGLE $8 BILLION (13.2% OF REVENUE) 9
  33. 33. JOHNSON & JOHNSON $8.2 BILLION (11.5% OF REVENUE) 8
  34. 34. TOYOTA $9.1 BILLION (3.5% OF REVENUE) 7
  35. 35. NOVARTIS $9.9 BILLION (16.8% OF REVENUE) 6
  36. 36. ROCHE $10 BILLION (19% OF REVENUE) 5
  37. 37. MICROSOFT $10.4 BILLION (13.4% OF REVENUE) 4
  38. 38. INTEL $10.6 BILLION (20.1% OF REVENUE) 3
  39. 39. SAMSUNG $13.4 BILLION (6.4% OF REVENUE) 2
  40. 40. VOLKSWAGEN $13.5 BILLION (5.2% OF REVENUE) 1
  41. 41. TOP 10 COUNTRIES BY R & D SPENDING
  42. 42. CANADA $24.3 BILLION (1.8% OF GDP) 10
  43. 43. RUSSIA $32.8 BILLION (1% OF GDP) 9
  44. 44. INDIA $36.1 BILLION (0.9% OF GDP) 8
  45. 45. UK $38.4 BILLION (1.7% OF GDP) 7
  46. 46. FRANCE $42.2 BILLION (1.9% OF GDP) 6
  47. 47. SOUTH KOREA $65.4 BILLION (4.36% OF GDP) 5
  48. 48. GERMANY $69.5 BILLION (2.3% OF GDP) 4
  49. 49. JAPAN $160 BILLION (2.3% OF GDP) 3
  50. 50. CHINA $337.5 BILLION (2.08% OF GDP) 2
  51. 51. US $405.3 BILLION (2.7% OF GDP) 1
  52. 52. THE PROCESS OF RESEARCH (Business Research)
  53. 53. DEFINING RESEARCH PROBLEM • It’s a gap in the knowledge • Gives direction for doing research 1 DECISION PROBLEM RESEARCH PROBLEM What should be done to increase the customer base of organic products in domestic market? What is the awareness and purchase intention of health conscious consumers for organic products? How to reduce turnover rates in the BPO sector? What is the impact of shift duties on work exhaustion and TO intention of workers? How to increase the delivery process of Widex hearing aids in India? How does Widex manage its supply chain in India? Should the company continue with existing security service vendor? ???????????????????? Whom should ICICI choose its next MD – Mr. ABC or Mrs. XYZ? ????????????????????
  54. 54. LITERATURE REVIEW • Review past research EXAMPLE: “Tregear, Dent and McGregor (1994) conducted a research to investigate demand for organic foods. A nationwide survey in UK revealed that customers are most willing to purchase organic product if the price difference was low.” 2
  55. 55. FORMULATING RESEARCH HYPOTHESIS • Presumption of expected results • On the basis of previous research EXAMPLE: “Organic farming will result into reduction of pollution of soil and water.” 3
  56. 56. FORMULATION OF RESEARCH DESIGN • Research Problem deals with What of study… • Research Design deals with How of study… 4 Plan Strategy Structure Of investigation to attain answers to research problem
  57. 57. FORMULATION OF RESEARCH DESIGN Research Design involves Following: 1. Means of obtaining information 2. Availability and skills of researcher 3. Justification of above 4. Time required 5. Cost involved 4
  58. 58. SAMPLING DESIGN • Population and sample • Probability and non-probability sampling design • Logic behind design needs to be accurate and measurable EXAMPLE: 1. Study of investigating kind of hearing disorders prevalent in India 2. The acceptability of some price points of a digital hearing aid 5
  59. 59. PLANNING AND COLLECTION OF DATA • Planning about ways of obtaining information • Primary and secondary ways of data collection • Primary: – Questionnaires – Scheduling – Interviews – E-mail – Observation etc. • Secondary: – Web – Magazines – Newspaper – Books etc. 6
  60. 60. DATA REFINING AND PREPARATION • Refined to facilitate statistical testing • Required for evaluating information • Answers research question and test hypothesis 7
  61. 61. DATA ANALYSIS AND INTERPRETATION • Selection of analytical tools 8 Univariate One variable involved Ex. Average runs scored by batsman Bivariate Two variable involved Ex. Hours of study and marks Multivariate More than two variable involved Ex. Effect of fertilizer and seed on productivity
  62. 62. DECISION MAKING • Management decision making EXAMPLE: Finding: Consumers are ready to use organic products if price gap is less Decision making: Production and selling of organic products in select areas. 9
  63. 63. Define research problem Literature Review Formulate hypothesis Research Design Sampling Design Planning & Collection of Data Data Refining and preparation Data Analysis and interpretation Decision Making PROCESS OF RESEARCH
  64. 64. APPLICATION OF RESEARCH
  65. 65. IN MARKETING 4Ps PRODUCT • Which new product should be launched? • How, when and where should we test the product? • How can we differentiate/position our products from competitors? • How should be the packaging? 1
  66. 66. IN MARKETING 4Ps PRICE • What should be the price of our product? • What should be the pricing strategy of the product? • What are competitor’s prices and pricing strategies? • How much value for customers is created at a certain price level? 1
  67. 67. IN MARKETING 4Ps PROMOTION • Which medium of communication should we use to promote the product? • How much money should be allocated for promotion? • What would be impact of promotion through different medias? 1
  68. 68. IN MARKETING 4Ps PLACE • Which location? • What should be geographical scope/limitation of product selling? • What kind of distribution channel should be required? 1
  69. 69. IN MARKETING OTHER • How many customers are satisfied with our products/services? • How many loyal consumers does our company have? • How can Customer Relationship Management (CRM) can be strengthened to gain competitive edge? 1
  70. 70. IN HRM PERFORMANCE MANAGEMENT • How effective is current leadership in the Organisation? • How much does culture and work environment affect productivity of employees? • Did the recent change in system made an impact on performance? 2
  71. 71. IN HRM ORGANISATIONAL PLANNING AND DEVELOPMENT • How much manpower is required in future? • What tools and techniques should be used to develop existing manpower? 2
  72. 72. IN HRM INCENTIVE AND BENEFIT STUDIES • What should be ideal performance appraisal system? • What kind of recognition and reward should be provided? • Analysis and effectiveness of current employee benefit and reward system? 2
  73. 73. IN HRM TRAINING AND DEVELOPMENT • What is the effectiveness of training on job performance? • What are the current training needs and gaps in the system? • What kind of training and development models should be implemented? 2
  74. 74. IN HRM OTHER • How can frequent absenteeism and accidents in organisation be avoided? • What is the reason and remedy of employee turnover and attrition? • How can employer branding be done to attract desired employees? 2
  75. 75. IN FINANCE ASSET PRICING • What would be response of stock market to upcoming IPO, M & A? • What should be valuation of company to be acquired? 3
  76. 76. IN FINANCE FINANCIAL ECONOMETRIC • Financial Modelling and forecasting • Risk estimation and analysis 3
  77. 77. IN FINANCE OTHER • Behavioral Finance – How does person’s behavior influence its purchasing decisions? 3
  78. 78. BEHAVIORAL ECONOMICS/FINANCE • Apple’s India revenue Rs 2,000 crore. • 620 crore in last year. • Increase of almost 200%
  79. 79. IN POM OPERATION PLANNING • How and where can the resources be deployed for its maximum utilization? • What product/service design would be accepted by market? 4
  80. 80. IN POM DEMAND FORECASTING & DECISION ANALYSIS • What would be probable demand for product/services? 4
  81. 81. IN POM PROCESS PLANNING • What is the optimum level of raw material required? 4
  82. 82. IN POM OTHER • What/how should be supply chain and distribution channel so that product should reach in time and at place? • How can JIT and Kaizen be implemented in organization? 4
  83. 83. FEATURES OF GOOD RESEARCH
  84. 84. FEATURES 1. Clearly stated purpose 2. Must follow systematic & detailed plan 3. Research design must be justified 4. Findings must be unbiased, objective and neutral
  85. 85. CHECK YOUR UNDERSTANDING
  86. 86. QUESTION What is research?
  87. 87. QUESTION Research done for solving practical problems is called ______ ???
  88. 88. QUESTION Presumption of results of the study is called ___________ ???
  89. 89. QUESTION What is sample ???
  90. 90. QUESTION What is research problem ???
  91. 91. QUESTION ____________ is used to analyze more than 2 variables.
  92. 92. QUESTION Which one of the following are primary data collection techniques? 1. Survey 2. E-books 3. Questionnaire 4. Scheduling 5. Journal 6. Newspaper 7. Interview
  93. 93. QUESTION How survey is different from research ???
  94. 94. SUMMARY
  95. 95. SUMMARY • Systematic and scientific investigation of truth is research • Research arises out of problem or curiosity • Basic research is aimed at expanding knowledge • Applied search is aimed at resolving some immediate problem • Primary data is collected first hand, secondary is second hand data • Univariate analyzed one, bivariate analyzed two and multivariate analyzes more than 2 variables • Research has application in varied areas like Finance, Marketing, HRM, POM etc. • Research must be precise, well planned, unbiased, objective and neutral.
  96. 96. Define research problem Literature Review Formulate hypothesis Research Design Sampling Design Planning & Collection of Data Data Refining and preparation Data Analysis and interpretation Decision Making PROCESS OF RESEARCH
  97. 97. THANK YOU

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