2. RESEARCH
Research is the search of knowledge.
Research is an investigation.
Research methodology is a way to systematically solve
the research problem.
It is a science of studying how research is done scientifically.
Research is a systematic process of collecting and analyzing
information in order to increase our understanding of the topic.
Research can be defined as the search for knowledge through
objective and systematic method of finding solution to a problem.
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3. DEFINITIONS OF RESEARCH
“Research as a “systematized effort to gain new knowledge.
Redman and Mory
“Research comprises defining and redefining problems, formulating
hypothesis or suggested solutions; collecting, organizing and
evaluating data; making deductions and reaching conclusions; and
at last carefully testing the conclusions to determine whether they fit
the formulating hypothesis. Clifford Woody
Research is defined as “the manipulation of things, concepts or
symbols for the purpose of generalizing to extend, correct or
verify knowledge, whether that knowledge aids in construction of
theory or in the practice of an art.”
D. Slesinger and M. Stephenson
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4. MEANING OF RESEARCH
The systematic method consisting of enunciating the problem,
formulating a hypothesis, collecting the facts or data, analyzing
the
facts and reaching certain conclusion either in the form of
solutions
towards the concerned problem or in certain generalizations for
some theoretical formulation.
systematic method
enunciating the problem,
formulating a hypothesis
collecting the facts or data
analyzing the facts
reaching certain conclusion
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5. OBJECTIVES OF RESEARCH:
Research is conscious approach to find out the truth which is
hidden and which has not been discovered by applying
scientific procedure. Therefore each research has its own
focus. This is stated in terms of objectives of conducting
research.
To gain familiarity with a phenomenon or to achieve new
insights into it studies.
To portray accurately the characteristics of a particular
individual, situation or studies. This helps to develop an
approach to create opportunities in the society.
To determine the frequency with which something occurs or
with which it is associated with something else.
To test a hypothesis of a causal relationship between
variables. This type of research is undertaken mainly to
determine the relationship between various factors so that
necessary policy options could be framed.
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6. SIGNIFICANCE OF RESEARCH:
Research inculcates scientific and inductive thinking
and it promotes the development of logical habits
of thinking and organization.
Research provides the basis for nearly all
government policies in our economic system.
Research has its special significance in solving
various operational and planning problems of
business and industry.
Research is equally important for social scientist in
studying social relationships and in seeking answers
to various social problems.
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7. CHARACTERISTICS OF RESEARCH
Criteria of Good Research (characteristics)
1. Research is half complete, when objective or purposes of
it are clearly spelt out.
2. It is necessary that every step followed in the process of
research is explained fully.
3. The research design adopted for the study should be
clear and match with objectives.
4. Research work should be based on carefully selected
analytical tools.
5. The research work is incomplete without acknowledging
the various data
(or) facts.
6. Limitations should be frankly revealed.
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8. PROBLEMS FACED BY RESEARCHERS
Lack of scientific training in methodology of research
insufficient interaction
Need for generating the confidence that the information/data
obtained from a patient will not be misused
Research studies overlapping one another are undertaken
quite often for want of adequate information
Timely and adequate secretarial assistance, including
computerial assistance
Library management & functioning is not satisfactory many
places
Difficulty of timely availability of published data.
Problem of conceptualization. DR. TR.KALAI LAKSHMI, RM SLIDES , UNIT 1
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9. TYPES OF RESEARCH
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On the basis of
application
Pure Research
Applied Research
On the basis of
objectives
On the basis of extent
of theory
On the basis of time
dimension
Theoretical Research
Empirical Research
Exploratory Research
Conclusive Research
Cross sectional Research
Longitudinal Research
10. 1. ON THE BASIS OF APPLICATION
Pure research (also called as fundamental or basis
research)
Pure research mainly concerned with
generalizations and with the formulation of a
theory. Gathering knowledge for knowledge’s
sake is termed as ‘pure’ or ‘basic’ research.
Research concerning some natural phenomenon
or relating to pure mathematics are examples of
pure research. The pure research is directed
towards finding information that has a broad base
of applications and thus, adds to the already
existing organized body of scientific knowledge.
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11. 1. ON THE BASIS OF APPLICATION
2. Applied Research
Applied research aims at finding a solution for an
immediate problem facing a society or an
industrial / business organisation. The research that
aimed at certain conclusions (ex. solution) facing a
concrete social or business problem is an example
of applied research. The research to identify social,
economic or political trends that may affect a
particular institutions or the copy research
(research to find out whether certain
communications will be read and understood) or
the marketing research or evaluation research are
examples of applied research. Thus, the central
aim of applied research is to discover a solution for
some pressing practical problem.
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12. 2. ON THE BASIS OF OBJECTIVES
1. Exploratory research
It is a type of research conducted for a
problem that has not been clearly defined. The
exploratory research helps determine the best
research design, data collection method and
selection of subjects. The results of exploratory
research are not usually useful for decision-
making by themselves, but they can provide
significant insight into a given situation. The
exploratory research is not typically
generalizable to the population at large. The
exploratory research can be quite informal,
relying on secondary research such as
reviewing available literature and/or data like
informal discussions with consumers, employees,
management, case studies or pilot studies etc.
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13. 2. ON THE BASIS OF OBJECTIVES
2. Conclusive research
Conclusive research is meant to provide
information that is useful in reaching conclusions
or decision-making. It tends to be quantitative in
nature, that is to say in the form of numbers that
can be quantified and summarized. It relies on both
secondary data, particularly existing databases
that are reanalyzed to shed light on a different
problem and primary data.
Conclusive research can be further classified as:
1.Descriptive research
2.Causal / Experimental research
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14. 3. ON THE BASIS OF OBJECTIVES
2.1 Descriptive research
Descriptive research includes surveys and fact-finding
enquiries of different kinds. The major purpose of descriptive
research is description of the state of affairs as it exists at
present.
In social science and business research, it is quite often, the
term Ex post facto research is used for descriptive research
studies. The main characteristic of this method is that the
researcher has no control over the variables; she/he can only
report what has happened or what is happening. The
methods of research utilized in descriptive research and
survey methods of all kinds, including comparative and
correlation methods.
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15. 3. ON THE BASIS OF OBJECTIVES
2.2 Causal / Experimental research
Experimental research is an objective,
systematic, controlled investigation for the
purpose of predicting and controlling
phenomena and examining probability and
causality among selected variables.
Experimental research helps in best
establishing the cause-and-effect
relationships.
The simplest experimental design includes
two variables (Dependent and Independent
variable) two groups of participants (Control
and Experimental group).
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16. III. ON THE BASIS OF EXTENT OF THEORY
1. Theoretical research
Theoretical research generally uses the
findings from existing works to develop new
ideas through analyzing existing theory and
explanations. These new ideas are not
tested through collecting evidence in the
form of primary data.
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17. III. ON THE BASIS OF EXTENT OF THEORY
2. Empirical research
Empirical research relies on experience and
observation alone, often without due regard for
system and theory. It is a data-based research,
coming up with conclusions which are capable of
being verified by observation or experiment. In
empirical research, the researcher must first provide
himself with a working hypothesis or guess as to the
probable results. He then works to get enough facts
(data) to prove or disprove his hypothesis.
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18. 4. ON THE BASIS OF TIME DIMENSION
1. Cross sectional research
Cross-sectional research is used to examine one variable in different
groups that are similar in all other characteristics. It means, the Cross-
sectional research involves using different groups of people who differ
in the variable of interest but share other characteristics, such as
socioeconomic status, educational background, and ethnicity. Cross-
sectional research studies are based on observations that take place
in different groups at one time. This means there is no experimental
procedure, so no variables are manipulated by the researcher.
Instead of performing an experiment, the researcher would simply
record the information that she/he observe in the groups they are
examining.
The following are the characteristics of cross-sectional research
· Takes place at a single point in time
· Variables are not manipulated by the researcher
· Provide information only; do not answer why
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19. 2. Longitudinal research
Longitudinal research is used to study
individuals at different stages in their
lives. A longitudinal study is correlational
research which follows one group of individuals
over a long period of time, perhaps decades.
Frequently, researchers meet with the subjects
many times on a regular basis. The length of
time is dependent on the topic of the research,
the length of the study, and the age of the
subject
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20. 2. Time series:
An ordered sequence of values of a variable at
equally spaced time intervals. The usage of
time series models is twofold: Obtain an
understanding of the underlying forces and
structure that produced the observed data. Fit
a model and proceed to forecasting,
monitoring or even feedback and feed forward
control. Time Series Analysis is used for many
applications such as: Economic Forecasting,
Sales Forecasting, Budgetary Analysis, Stock
Market Analysis, Yield Projections, Process and
Quality Control, Inventory Studies, Workload
Projections, Utility Studies, Census Analysis
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21. b. Panel study
A panel usually involves a somewhat
random sample of subjects. Panel
studies are a particular design of
longitudinal study in which the unit of
analysis is followed at specified intervals
over a long period, often many years.
The key feature of panel studies is that
they collect repeated measures from
the same sample at different points in
time. Most panel studies are designed
for quantitative analysis and use
structured survey data.
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22. c. Cohort study
A cohort is a group of people who share a common
characteristic or experience within a defined period.
Cohort study observes subjects in a similar group
based on region, age, or common experiences. In
cohort study an algorithm is a well-defined sequence
of steps to solve a problem of interest in industry,
business and government. Prospective cohort studies
re-investigate groups of people who share some
social characteristic.
.Examples of cohort studies that have been going on
for more than 50 years are the Framingham Heart
Study and theNational Child Development
Study (NCDS), the most widely researched of
the British birth cohort studies
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23. RELEVANCE OF RESARCH TO
BUSINESS FUNCTIONS
Generally a manager has to take a course of action which is most
effective in attaining the goals of the organization Research provides
facts and figures in support of such business decisions. It helps the
manager to choose a measuring rod to judge the effectiveness of each
decision. This may be the reason why executives and business
professionals consider research and research findings as a boon in their
problem solving process.
Any research on management will have the following general
objectives:
The objectives of decision making
The objective of controlling the managerial activities
The object of studying the economic and business environment
The object of studying the market
The object of studying the new product development
The object of studying innovation
The object of studying customer satisfaction
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24. RELEVANCE OF RESARCH TO
BUSINESS FUNCTIONS
Research for Marketing decisions: New product development research –
Research to brand equity and preference – Research on pricing strategies –
Research on distribution channels – Research on salesman qualities and
effectiveness – Research on media effectiveness – Research on marketing
information system etc.
Research for personnel Decisions: Research on effectiveness of different
sources of recruitment and training – Research on leadership style and
effectiveness – Research of personnel information system etc.
Research for capital market decisions: Research on issues, like climate
culture creativity change design etc.,
Research for Financial decisions: Research on cost of capital and capital
structure – Research on working capital management research on inventory
management – etc.
Research on Business Strategies: Strategic alliances and divorces – Mergers
and acquisitions Disinvestment –Reorganizations – Reengineering etc.
To sum up research is an ingredient in all the functional areas of commerce
and economics production and materials management extensively
make use of research.
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