Business Research plays a predominant role in decision making of various business economics problems

1. Business Research
Dr. Perini PraveenaSri
Associate Professor
Atria Institute of Technology

3. Meaning of Research
Research in common parlance refers to a search for knowledge. Once can also
define research as a scientific and systematic search for pertinent information on
a specific topic.
In fact, research is an art of scientific investigation.
The Advanced Learner’s Dictionary of Current English lays down the meaning of
research as “a careful investigation or inquiry specially through search for new
facts in any branch of knowledge.”
Redman and Mory define research as a “systematized effort to gain new
knowledge.” Some people consider research as a movement, a movement from
the known to the unknown. It is actually a voyage of discovery.

5. Illustrative Examples: Environmental Economics : Emission Trading
The rapid economic growth of India, China and Russia has resulted in the
consumption of enormous amounts of natural resources and energy and increased
environmental stress.
Given this situation, it is more urgent than ever that we apply the collective wisdom
of the human race to address global environment issues and conserve natural
resources and energy.
Using gains from emissions trading, these countries are now stepping up the
introduction of higher energy-efficiency production facilities to replace conventional
low efficiency facilities.
The Emission Trading Mechanism is an example of a theoretical framework derived
from an analytical environmental economics model.

6. An Overview Of Carbon Trading In India And Its Legal Aspect
The companies in the developed world are required to meet certain carbon emission
target set by their respective government.
However if these companies are not able to meet their emission targets, they have an
alternative of purchasing these carbon credits from the market i.e. from someone who
is successful in meeting these targets and who has a surplus of these credits. This
process is known as carbon trading.

7. Carbon trading is also very advantageous for the companies of the developing world
as it provides monetary gains in exchange of carbon credits which help these
companies to purchase or change their technology. This change in technology
eventually helps the companies to reduce carbon emission.
Clean Development Mechanism
The Clean Development Mechanism (CDM), defined in Article 12 of the Protocol,
allows a country with an emission-reduction or emission-limitation commitment under
the Kyoto Protocol to implement an emission-reduction project in developing
countries.

8. Examples of Carbon trading in India
Jindal Vijaynagar Steel
The Jindal Vijaynagar Steel has recently declared that by the next ten years it will be
ready to sell $225 million worth of saved carbon. This was made possible since their
steel plant uses the Corex furnace technology which prevents 15 million tonnes of
carbon from being discharged into the atmosphere.
Powerguda in Andhra Pradesh
The village in Andhra Pradesh was selling 147 tonnes equivalent of saved carbon
dioxide credits. The company has made a claim of having saved 147 MT of CO2. This
was done by extracting bio-diesel from 4500 Pongamia trees in their village.
Handia Forest in Madhya Pradesh
In Madhya Pradesh, it is estimated that 95 very poor rural villages would jointly earn
at least US$300,000 every year from carbon payments by restoring 10,000 hectares
of degraded community forests.

9. Types of Research
The basic types of research are as follows:
(i) Descriptive Versus Analytical
(ii) Applied Versus Fundamental
(iii) Quantitative Versus Qualitative
(iv) Conceptual Versus Empirical
(v) Laboratory Research or Field Setting Research
(vi) Clinical or Diagnostic Research
(vii) Historical Research
(viii) Decision Oriented Research
(ix) Operations Research

10. Descriptive research Versus Analytical Research
It 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 we quite often use the term Ex post facto
research for descriptive research studies.
The main characteristic of this method is that the researcher has no control over the
variables; he can only report what has happened or what is happening.
Most ex post facto research projects are used for descriptive studies in which the
researcher seeks to measure such items as, for example,
frequency of shopping,
preferences of people, or similar data.

11. Descriptive research explores phenomena in their natural environment without
using the scientific method.
Sometimes it is ethically impossible to use the scientific method to determine causal
relationships between variables. In those cases, the descriptive method in research
yields systematic information about something without impinging on the rights of
research subjects.
Researchers want to know general information about human beings, such as what
factors lead to excessive drinking among college students and what the results of this
practice might be.
An experimental research design would divide random college students in two groups,
asking one group to drink a lot of alcohol and the other to abstain. This would be a
completely unethical study because it would put the research subjects in danger.

12. Instead of putting subjects in danger, researchers use various forms of descriptive
research, which can include having the students
(a) fill out surveys,
(b) observing students' behavior in various settings and
(c )interviewing students.
In this way, researchers can study students who self-select drinking behaviors. While
descriptive research can yield rich descriptions of factors that may be associated with
drinking behavior, it cannot determine causal factors between variables the way
experimental research can.

13. The methods of research utilized in descriptive research are survey methods of
all kinds, including comparative and correlational methods.
The Descriptive research has mainly three types such as
(a) observation method,
(b) the survey method, and
(c ) the case-study method.

14. Observational Descriptive Research Method
This method is used to identify the behavior of human. Through
this method, you can quickly determine the behavior of the
human and animal.
Observational methods are two main categories naturalistic and
laboratory research.
The main advantage of the naturalistic is that researcher’s
views contributor in the natural environments. In this approach,
find the solution of real-life problems.
Another method laboratory research is more beneficial rather
than observational. It is a time-saving process as compared to
observational research.

15. Survey Descriptive research method
The Survey method is used by the various companies and
business to collect the feedback of the customers to grow their
business.
It is one of the incredible marketing tools that help to get
feedback about the business services. In survey research eg.
Online survey , respond the answers by the people of the
queries.
With the help of survey research methods, collect the meaning
data and true information in real life. That’s why it is the most
popular marketing tool. Through a survey method, identify the
valid and true information.

16. Case-study descriptive research method
If you want to gather in-depth knowledge of any phenomena, then you can consider
one of the most effective descriptive research methods is case-study.
It involves gathering in-depth knowledge by an individual or in the group.
In the Case of Study approach, they don’t use any prediction and explanation of the
phenomena. This method should not determine the effects and causes on the
situations.
Analytical Research :
In analytical research, on the other hand, the researcher has to use facts or information
already available, and analyze these to make a critical evaluation of the material.

17. Analytical research is a specific type of research that involves critical thinking
skills and the evaluation of facts and information relative to the research being
conducted. A method of thinking that involves identifying a claim or assumption and
deciding if it is true or false) a person is able to effectively pull out small details to form
greater assumptions about the material.
Analytical research is conducted in a variety of ways including literary research, public
opinion, scientific trials and Meta-analysis.
A variety of people including students, doctors and psychologists use analytical
research during studies to find the most relevant information.

18. Sample analytical research paper requires a writer to do a thorough investigation in
order to analyze a problem, not just describe it.
In general, the analytical paper begins with a research question. The main goal of the
paper is not to persuade its readers that the author is right but to give an overview of
primary and secondary sources on the selected issue.
A thesis statement is a significant part of an analytical research paper. It should reflect
the fresh ideas and developments and avoid the restatements of the well-known
information. As for the most important features of the analytical research paper, they
are objectiveness, reliability, censoriousness, and accurateness.

19. Main Contents of Analytical Research
Sample analytical research paper requires a writer to do a thorough investigation in
order to analyze a problem, not just describe it. In general, the analytical paper begins
with a research question.
The main goal of the paper is not to persuade its readers that the author is right but to
give an overview of primary and secondary sources on the selected issue.
A thesis statement is a significant part of an analytical research paper. It should reflect
the fresh ideas and developments and avoid the restatements of the well-known
information.
As for the most important features of the analytical research paper, they are
objectiveness, reliability, censoriousness, and accurateness.

20.  Examples of Analytical Research
The present day situation of the flora and fauna on our planet is turbulent and tragic
because many of animals and plants belong to the endangered species.
Due to the negligence and irresponsibility of humans, many of species are at the
vanishing point. One of such animals is Siberian tiger who lives in the woods of
Eastern Russia, China, and North Korea.
Its population had decreased to the critical point in 1940, and there are only about
500 Amur tigers in the world nowadays.
As Siberian, or Amur, tigers are rare species, it is necessary to analyze the essential
reasons for their obsolescence.

21. The main reason for their extinction is the destruction of their habitat places.
Deforestation prevents their ability to hunt and live in the familiar area.
People cut the trees to sell and make the profit as well as consume the same prey.
Because of these challenges, tigers are forced to move to other areas where they are
not able to survive successfully.
One more important threat for the tigers’ disappearance is the loss of food sources. The
typical ration of the Siberian tiger consists of deer, bears, fish, and rabbits. When these
items disappear, tigers have nothing to eat, and therefore, they hunt for domestic
animals.
People are afraid of tigers and extirpation of their domestic animals so they kill tigers
which try to steal their cattle.

22. Moreover, the hide and meat of the Siberian tiger are considered to be the real
treasure which has a high price.
That is why people hunt for them despite of the fact that it is forbidden.
Their meat is a delicacy, while bones, teeth, and whiskers are the ingredients for
traditional Chinese medicine. Consequently, poaching is the serious problem
regarding the disappearance of Siberian tigers.

23. Applied vs. Fundamental Research:
Research can either be applied (or action) research or fundamental (to basic or pure)
research. Applied research aims at finding a solution for an immediate problem facing
a society or an industrial/business organization,
Whereas fundamental research is mainly concerned with generalizations and with the
formulation of a theory. “Gathering knowledge for knowledge’s sake is termed ‘pure’
or ‘basic’ research.”
Research concerning some natural phenomenon or relating to pure mathematics are
examples of fundamental research.

24. Applied Research
The research aimed at certain conclusions (say, a solution) facing a concrete social or business
problem is an example of applied research.
Research to identify social, economic or political trends that may affect a particular institution
or economy. Eg. The fall in economic growth of Indian Economy to the level of 4.5 % has
impounding risks in terms of reduced investments in crucial sectors, fall in demand and
exports, inflation etc. This precarious economic situation can be counteracted by robust
business economics models.
Thus, the central aim of applied research is to discover a solution for some pressing practical
problem,

26. Fundamental or Basic research:
It is directed towards finding information that has a broad base of applications and thus, adds
to the already existing organized body of scientific knowledge.

29. Quantitative vs. Qualitative:
Quantitative research is based on the measurement of quantity or amount. It is
applicable to phenomena that can be expressed in terms of quantity.
Qualitative research, on the other hand, is concerned with qualitative phenomenon,
i.e., phenomena relating to or involving quality or kind. For instance, when we are
interested in investigating the reasons for human behavior (i.e., why people think or
do certain things),

30. The structured way of collection and analysis of the data which is obtained from the
different sources involving the use of statistics, computational and mathematical tools
in order to derive the results is known as Quantitative research.
The below mentioned different Quantitative Research Example gives an
understanding of the most common type of research which involves Quantitative data
considering the different situations prevailing.

33. Qualitative Research
Qualitative research is defined as a market research method that focuses on
obtaining data through open-ended and conversational communication.
This method is not only about “what” people think but also “why” they think so.
For example, consider a convenience store looking to improve its patronage. A
systematic observation concludes that the number of men visiting this store are more.
One good method to determine why women were not visiting the store is to conduct
an in-depth interview of potential customers in the category.

34. On successfully interviewing female customers, visiting the nearby stores and malls,
and selecting them through random sampling, it was known that the store doesn’t
have enough items for women and so there were fewer women visiting the store,
which was understood only by personally interacting with them and understanding
why they didn’t visit the store, because there were more male products than female
ones.
Therefore, the qualitative research methods allow for in-depth and further probing
and questioning of respondents based on their responses, where the
interviewer/researcher also tries to understand their motivation and feelings.
Understanding how your audience takes decision can help derive conclusion in
market research.

35.  Qualitative Research Methods with Examples
Qualitative research methods are designed in a manner that they help
reveal the behavior and perception of a target audience with reference
to a particular topic.
There are different types of qualitative research methods like
One to one interview
An in-depth interview,
Focus groups,
Ethnographic research,
Content analysis,
Case study research that are usually used.

36. 1. One-on-One Interview: Conducting in-depth interviews is one of the most
common qualitative research methods. It is a personal interview that is carried out
with one respondent at a time. This is purely a conversational method and invites
opportunities to get details in depth from the respondent.
One of the advantages of this method provides a great opportunity to gather precise
data about what people believe and what their motivations are. If the researcher is
well experienced asking the right questions can help him/her collect meaningful data.
If they should need more information the researchers should ask such follow up
questions that will help them collect more information.
These interviews can be performed face-to-face or on phone and usually can last
between half an hour to two hours or even more. When the in-depth interview is
conducted face to face it gives a better opportunity to read the body language of the
respondents and match the responses.

37. 2. Focus groups: A focus group is also one of the commonly used qualitative
research methods, used in data collection. A focus group usually includes a limited
number of respondents (6-10) from within your target market.
The main aim of the focus group is to find answers to the why what and how
questions. One advantage of focus groups is, you don’t necessarily need to interact
with the group in person. Nowadays focus groups can be sent an online survey on
various devices and responses can be collected at the click of a button.
Focus groups are an expensive method as compared to the other qualitative research
methods. Typically they are used to explain complex processes. This method is very
useful when it comes to market research on new products and testing new concepts.

38. 3. Ethnographic research: Ethnographic research is the most in-depth observational
method that studies people in their naturally occurring environment.
This method requires the researchers to adapt to the target audiences’ environments
which could be anywhere from an organization to a city or any remote location. Here
geographical constraints can be an issue while collecting data.
This research design aims to understand the cultures, challenges, motivations, and
settings that occur. Instead of relying on interviews and discussions, you experience
the natural settings first hand.
This type of research method can last from a few days to a few years, as it involves in-
depth observation and collecting data on those grounds. It’s a challenging and a time-
consuming method and solely depends on the expertise of the researcher to be able to
analyze, observe and infer the data.

39. 4. Case study research: The case study method has evolved over the past few years
and developed as into a valuable qualitative research method.
As the name suggests it is used for explaining an organization or an entity.
This type of research method is used within a number of areas like education, social
sciences and similar.
This method may look difficult to operate, however, it is one of the simplest ways of
conducting research as it involves a deep dive and thorough understanding of the
data collection methods and inferring the data.

40. 5. Record keeping: This method makes use of the already existing reliable
documents and similar sources of information as the data source. This data can be
used in a new research. This is similar to going to a library. There one can go over
books and other reference material to collect relevant data that can likely be used in
the research.
6. Process of observation: Qualitative Observation is a process of research that
uses subjective methodologies to gather systematic information or data. Since, the
focus on qualitative observation is the research process of using subjective
methodologies to gather information or data. The qualitative observation is primarily
used to equate quality differences.
Qualitative observation deals with the 5 major sensory organs and their functioning –
sight, smell, touch, taste, and hearing. This doesn’t involve measurements or
numbers but instead characteristics.

41. Conceptual versus Empirical
Conceptual research is that related to some abstract idea(s) or
theory. It is generally used by philosophers and thinkers to
develop new concepts or to reinterpret existing ones.
Examples include: Historical conventions relating to heritage
and culture
On the other hand, empirical research relies on experience or
observation alone, often without due regard for system and
theory. It is data-based research, coming up with conclusions
which are capable of being verified by observation or
experiment.

42. We can also call it as experimental type of research. In such a research
it is necessary to get at facts firsthand, at their source, and actively to
go about doing certain things to stimulate the production of desired
information.
In such a 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.
Examples: Social Science experiments dealing with structural social
rigidities, medical field, aero science etc.

43. Laboratory Research or Field Setting Research
It can be field-setting research or laboratory research or simulation research,
depending upon the environment in which it is to be carried out.
It is a facility that provides controlled conditions in which scientific or technological
research, experiments, and measurement may be performed. Laboratory services
are provided in a variety of settings: physicians offices, clinics, hospitals, and
regional and national referral centers.

44.  A physics laboratory might contain a particle accelerator or vacuum chamber,
while a metallurgy laboratory could have apparatus for casting or refining metals
or for testing their strength.
A chemist or biologist might use a wet laboratory,
while a psychologist's laboratory might be a room with one-way mirrors and
hidden cameras in which to observe behavior.
In some laboratories, such as those commonly used by computer
scientists, computers (sometimes supercomputers) are used for
either simulations or the analysis of data.
Scientists in other fields will use still other types of laboratories.
Engineers use laboratories as well to design, build, and test technological
devices.

45. Research can as well be understood as clinical or diagnostic research.
Such research follow case-study methods or in-depth approaches to
reach the basic causal relations.
Such studies usually go deep into the causes of things or events that
interest us, using very small samples and very deep probing data
gathering devices. The research may be exploratory or it may be
formalized.

46. Historical research is that which utilizes historical sources like documents,
remains, etc. to study events or ideas of the past, including the philosophy of
persons and groups at any remote point of time.
Research can also be classified as conclusion-oriented and decision-oriented.
While doing conclusion oriented research, a researcher is free to pick up a
problem, redesign the enquiry as he proceeds and is prepared to conceptualize as
he wishes.
Decision-oriented research is always for the need of a decision maker and the
researcher in this case is not free to embark upon research according to his own
inclination.
Operations research is an example of decision oriented research since it is a
scientific method of providing executive departments with a quantitative basis for
decisions regarding operations under their control.

47. Process of Research : Management Problem

48.  1. Formulating the research problem: Example: Water Scarcity in crucial sectors of
economy
There are two types of research problems, viz., those which relate to states of nature and
those which relate to relationships between variables.
Initially the problem may be stated in a broad general way and then the ambiguities, if any,
relating to the problem be resolved.
Then, the feasibility of a particular solution has to be considered before a working
formulation of the problem can be set up.
The formulation of a general topic into a specific research problem, thus, constitutes the
first step in a scientific enquiry.
Essentially two steps are involved in formulating the research problem, viz., understanding
the problem thoroughly, and rephrasing the same into meaningful terms from an analytical

49. The researcher must at the same time examine all available literature to get himself
acquainted with the selected problem.
He may review two types of literature—the conceptual literature concerning the concepts and
theories, and the empirical literature consisting of studies made earlier which are similar to
the one proposed.
The basic outcome of this review will be the knowledge as to what data and other materials
are available for operational purposes which will enable the researcher to specify his own
research problem in a meaningful context.
After this the researcher rephrases the problem into analytical or operational terms i.e., to put
the problem in as specific terms as possible.
In fact, formulation of the problem often follows a sequential pattern where a number of
formulations are set up, each formulation more specific than the preceding one, each one
phrased in more analytical terms, and each more realistic in terms of the available data and
resources.

50. DEFINING THE RESEARCH PROBLEM
In research process, the first and foremost step happens to be that of selecting and properly defining a
research problem.*
A researcher must find the problem and formulate it so that it becomes susceptible to research.
Like a medical doctor, a researcher must examine all the symptoms (presented to him or
observed by him) concerning a problem before he can diagnose correctly.
To define a problem correctly, a researcher must know: what a problem is?
In a precise form
WHAT IS A RESEARCH PROBLEM?
A research problem, in general, refers to some difficulty which a researcher experiences in the
context of either a theoretical or practical situation and wants to obtain a solution for the same.

51. We can, thus, state the components of a research problem as under:
(i) There must be an individual or a group which has some difficulty or the
problem.
(ii) There must be some objective(s) to be attained at. If one wants nothing, one
cannot have a problem.
(iii) There must be alternative means (or the courses of action) for obtaining the
objective(s) one wishes to attain. This means that there must be at least two
means available to a researcher for if he has no choice of means, he cannot have
a problem.
(iv) There must remain some doubt in the mind of a researcher with regard to the
selection of alternatives. This means that research must answer the question
concerning the relative efficiency of the possible alternatives.
(v) There must be some environment(s) to which the difficulty pertains.

52. For Example : The research Problem is water shortage due erratic monsoonal rainfall
affects the electricity problem.
The two possible means are:
(1) Use Technological break through for condenser cooling.
(2) Alternate ways of generating electricity through renewable sources of energy.

53. Selecting the problem
A problem must spring from the researcher’s mind like a plant springing from its own
seed.
If our eyes need glasses, it is not the optician alone who decides about the number
of the lens we require.
We have to see ourselves and enable him to prescribe for us the right number by
cooperating with him. Thus, a research guide can at the most only help a researcher
choose a subject.
However, the following points may be observed by a researcher in selecting a
research problem or a subject for research:

54. (i) Subject which is overdone should not be normally chosen, for it will be a difficult
task to throw any new light in such a case.
(ii) Controversial subject should not become the choice of an average researcher.
(iii) Too narrow or too vague problems should be avoided.
on the subject and may think how the techniques and ideas discussed
therein might be applied to the solution of other problems.

55. iv) The subject selected for research should be familiar and feasible so
that the related research material or sources of research are within one’s
reach.
Even then it is quite difficult to supply definitive ideas concerning how a
researcher should obtain ideas for his research.
For this purpose, a researcher should contact an expert or a professor in
the University who is already engaged in research. He may as well read
articles published in current literature available

56. In other words, before the final selection of a problem is done, a researcher must ask
himself the following questions:
(a) Whether he is well equipped in terms of his background to carry out the research?
(b) Whether the study falls within the budget he can afford?
(c) Whether the necessary cooperation can be obtained from those who must
participate in research as subjects?
If the answers to all these questions are in the affirmative, one may become sure so
far as the practicability of the study is concerned.
(vi) The selection of a problem must be preceded by a preliminary study.

57. TECHNIQUE INVOLVED IN DEFINING A PROBLEM
Let us start with the question: What does one mean when he/she wants to define a research
problem?
The answer may be that one wants to state the problem along with the bounds within which it
is to be studied.
In other words, defining a problem involves the task of laying down boundaries within which
a researcher shall study the problem with a pre-determined objective in view.
How to define a research problem is undoubtedly a herculean task. However, it is a task that
must be tackled intelligently to avoid the perplexity encountered in a research operation.

58. The technique for the purpose involves the undertaking of the following steps generally one
after the other:
(i) statement of the problem in a general way;
(ii) understanding the nature of the problem;
(iii) surveying the available literature
(iv) developing the ideas through discussions; and
(v) rephrasing the research problem into a working proposition.

59. (i) Statement of the problem in a general way:
First of all the problem should be stated in a broad general way, keeping in view either some
practical concern or some scientific or intellectual interest. Eg: Water shortage in hydel Power
stations
For this purpose, the researcher must immerse himself thoroughly in the subject matter
concerning which he wishes to pose a problem. In case of social research, it is considered
advisable to do some field observation and as such the researcher may undertake some sort of
preliminary survey or what is often called pilot survey.
Eg: Visit the field level power stations
Then the researcher can himself state the problem or he can seek the guidance of the guide or
the subject expert in accomplishing this task.
Often, the guide puts forth the problem in general terms, and it is then up to the researcher to
narrow it down and phrase the problem in operational terms.

60. (ii) Understanding the nature of the problem:
The next step in defining the problem is to understand its origin and
nature clearly. The best way of understanding the problem is to discuss
it with those who first raised it in order to find out how the problem
originally came about and with what objectives in view.
For a better understanding of the nature of the problem involved, he can
enter into discussion with those who have a good knowledge of the
problem concerned or similar other problems.
The researcher should also keep in view the environment within which
the problem is to be studied and understood.

61. (iii) Surveying the available literature:
All available literature concerning the problem at hand must necessarily be surveyed
and examined before a definition of the research problem is given.
Eg: Articles in Journals, World Water Development Reports ( Water Scarcity in Power
Plants)
This means that the researcher must be well-conversant with relevant theories in the
field, reports and records as also all other relevant literature. He must devote
time in reviewing of research already undertaken on related problems.
This is done to find out what data and other materials, if any, are available for
operational purposes. “Knowing what data are available often serves to narrow the
problem itself as well as the technique that might be used.”

62. This would also help a researcher to know if there are certain gaps in the
theories, or
whether the existing theories applicable to the problem under study are
inconsistent with each other, or whether the findings of the
different studies do not follow a pattern consistent with the theoretical
expectations and so on.
All this will enable a researcher to take new strides in the field for
furtherance of knowledge i.e., he can move up starting from the existing
premise.

63. (iv) Developing the ideas through discussions:
Discussion concerning a problem often produces useful information. Various new
ideas can be developed through such an exercise. Hence, a researcher
must discuss his problem with his colleagues and others who have enough
in the same area or in working on similar problems. This is quite often known as an
experience survey. Eg: (Professors in reputed and esteemed Corporate, State and
Central Governments at University Level )
People with rich experience are in a position to enlighten the researcher on different
aspects of his proposed study and their advice and comments are usually invaluable
to the researcher.
They help him sharpen his focus of attention on specific aspects within the field.
Discussions with such persons should not only be confined to the formulation of the
specific problem at hand, but should also be concerned with the general approach
the given problem, techniques that might be used, possible solutions, etc.

64. (v) Rephrasing the research problem:
Finally, the researcher must sit to rephrase the research problem into a working
proposition.
Eg: Water scarcity in Hydel Power generation plants leads to loss of generation during
summer season of a year.
Once the nature of the problem has been clearly understood, the
environment has been defined, discussions over the problem have taken place and the
available literature has been surveyed and examined, rephrasing the problem into
analytical or operational terms is not a difficult task.
Through rephrasing, the researcher puts the research problem in as specific terms as
possible so that it may become operationally viable and may help in the development
of working hypotheses.*

66. With this sort of formulation, the various terms involved such as
‘labour productivity’, ‘productivity differentials’, etc. must be
explained clearly. The researcher must also see that the necessary data
are available.
In case the data for one or more industries selected are not available
for the concerning time-period, then the said industry or industries will
have to be substituted by other industry or industries.
The suitability of the time-period must also be examined. Thus, all
relevant factors must be considered by a researcher before finally
defining a research problem.

67. 2. Extensive literature survey: WWDR (World Water Development Report), Various
issues
Once the problem is formulated, a brief summary of it should be written down. It is compulsory
for a research worker writing a thesis for a Ph.D. degree to write a synopsis of the topic and
submit it to the necessary Committee or the Research Board for approval.
At this juncture the researcher should undertake extensive literature survey connected with the
problem. For this purpose, the abstracting and indexing journals and published or unpublished
bibliographies are the first place to go to.
Academic journals, conference proceedings, government reports, books etc., must be tapped
depending on the nature of the problem. In this process, it should be remembered that one
source will lead to another.
The earlier studies, if any, which are similar to the study in hand should be carefully studied. A
good library will be a great help to the researcher at this stage.

68. FORMULATING THE RESEARCH HYPOTHESIS
3. Development of working hypotheses: Eg: Water scarcity in terms of erratic monsoonal
rainfall affects agricultural production adversely.
After extensive literature survey, researcher should state in clear terms the
working hypothesis or hypotheses.
Working hypothesis is tentative assumption made in order to draw out and test
its logical or empirical consequences. As such the manner in which research
hypotheses are developed is particularly important since they provide the focal
point for research.
They also affect the manner in which tests must be conducted in the analysis of
data and indirectly the quality of data which is required for the analysis.

70. DEVELOPING RESEARCH PROPOSALS
The following are the key aspects of developing a research proposal
(1) Introduction
(2) Objectives
(3) What is Research Proposal?
(4) Importance of a proposal before conducting a research
(5)Main components of a research proposal
(6)Selecting a suitable topic for research
(7)Preparing Background for the problem
(8)Searching relevant literature and researches
(9) Statement of the Problem
(10)Operational definitions

71. (11)Research objectives
(12)Research hypotheses or questions of the study
(13) Research design
(14)Population and sample
(15)Designing reliable and valid research tools
(16)Data collection
(17)Selecting suitable statistical techniques for data analysis
(18)Time line for research
(19)Details about cost estimate and budget
(20)Styles of writing references
(21) Let’s sum up
(22)Further reading and references

86. RESEARCH DESIGN FORMULATION
4. Preparing the research design: Eg: Water scarcity is existent in power generation
stations.
The research problem having been formulated in clear cut terms, the researcher will be required
to prepare a research design, i.e., he will have to state the conceptual structure within which
research would be conducted.
The preparation of such a design facilitates research to be as efficient as possible yielding
maximal information. In other words, the function of research design is to provide for the
collection of relevant evidence with minimal expenditure of effort, time and money.
Research purposes may be grouped into four categories, viz.,
(i) Exploration,
(ii) Description,
(iii) Diagnosis, and
(iv) Experimentation.

87.  A flexible research design which provides opportunity for considering many different
aspects of a problem is considered appropriate if the purpose of the research study is that of
exploration.
But when the purpose happens to be an accurate description of a situation or of an
association between variables, the suitable design will be one that minimizes bias and
maximizes the reliability of the data collected and analyzed.
There are several research designs, such as, experimental and non-experimental hypothesis
testing.
Experimental designs can be either
(a) informal designs (such as before-and-after without control, after-only with control,
before-and-after with control) or
(b)formal designs (such as completely randomized design, randomized block design, Latin
square design, simple and complex factorial designs), out of which the researcher must
select one for his own project.

88. SAMPLING DESIGN
5. Determining sample design: Eg: Random Sampling employed in identification of Power
plants
All the items under consideration in any field of inquiry constitute a ‘universe’ or
‘population’. A complete enumeration of all the items in the ‘population’ is known
as a census inquiry.
It can be presumed that in such an inquiry when all the items are covered no
element of chance is left and highest accuracy is obtained.
Besides, this type of inquiry involves a great deal of time, money and energy. Not
only this, census inquiry is not possible in practice under many circumstances.

89. For instance, blood testing is done only on sample basis. Hence, quite often we select only a
few items from the universe for our study purposes.
The items so selected constitute what is technically called a sample.
The researcher must decide the way of selecting a sample or what is popularly known as the
sample design.
In other words, a sample design is a definite plan determined before any data are
actually collected for obtaining a sample from a given population. Thus, the plan to select 12
of a city’s 200 drugstores in a certain way constitutes a sample design. Samples can be either
probability samples or non-probability samples.

90. With probability samples each element has a known probability of being included in the
sample but the non-probability samples do not allow the researcher to determine
this probability.
Probability samples are those based on
(i) Simple random sampling,
(ii) Systematic sampling,
(iii) Stratified sampling,
(iv) Cluster/area sampling
whereas non-probability samples are those based on
(i) convenience sampling,
(ii) judgment sampling and
(iii)quota sampling techniques.

91. PLANNING AND COLLECTING DATA FOR RESEARCH
6. Collecting the data: Eg: First hand collection of data at field level : Primary
sources of data
In dealing with any real life problem it is often found that data at hand are
inadequate, and hence, it becomes necessary to collect data that are appropriate.
There are several ways of collecting the appropriate data which differ
considerably in context of money costs, time and other resources at the disposal
of the researcher.
Primary data can be collected either through experiment or through survey.
If the researcher conducts an experiment, he observes some quantitative
measurements, or the data, with the help of which he examines the truth

92. Methods of Collecting data through Survey :
(a) By Observation
(b) Through Personal Interview
(c ) Through telephonic Interview
(d) By mailing questionnaires
(e) Through Schedules
Methods of Collecting data through Experimental i.e. Using Statistical technique of
desk research

93. 7. Execution of the project: Eg: Pilot Survey Method employed in selected power station
of Andhra
Execution of the project is a very important step in the research process. If the
execution of the project proceeds on correct lines, the data to be collected would
be adequate and dependable.
The researcher should see that the project is executed in a systematic manner
and in time. If the survey is to be conducted by means of structured
questionnaires, data can be readily machine-processed.
In such a situation, questions as well as the possible answers may be coded. If
the data are to be collected through interviewers, arrangements should be made
for proper selection and training of the interviewers.

94.  The training may be given with the help of instruction manuals which
explain clearly the job of the interviewers at each step.
Occasional field checks should be made to ensure that the interviewers are
doing their assigned job sincerely and efficiently.

95. DATAANALYSIS AND INTERPRETATION
8. Analysis of data: Eg: Multivariate Regression Analysis
After the data have been collected, the researcher turns to the task of analyzing
them. The analysis of data requires a number of closely related operations such
as establishment of categories, the application of these categories to raw data
through
(i) coding,
(ii) tabulation and
(iii)then drawing statistical inferences.S

96. Coding operation is usually done at this stage through which the
categories of data are transformed into symbols that may be tabulated
and counted.
Editing is the procedure that improves the quality of the data for
coding. With coding the stage is ready for tabulation.
Tabulation is a part of the technical procedure wherein the classified
data are put in the form of tables.
The mechanical devices can be made use of at this juncture.

97. 9. Hypothesis-testing: Water scarcity due to seasonal variations leads to loss of power
generation.
After analyzing the data as stated above, the researcher is in a position to test the
hypotheses, if any, he had formulated earlier.
Do the facts support the hypotheses or they happen to be contrary? This is the
usual question which should be answered while testing hypotheses.
Various tests, such as Chi square test, t-test, F-test, have been developed by
statisticians for the purpose.
The hypotheses may be tested through the use of one or more of such tests,
depending upon the nature and object of research inquiry.
Hypothesis-testing will result in either accepting the hypothesis or in rejecting

98. 10. Generalizations and interpretation: Lean seasons of a year water
shortages leads to loss of power generation , suggesting for renewable
sources of electric energy.
If a hypothesis is tested and upheld several times, it may be possible for the
researcher to arrive at generalization, i.e., to build a theory.
As a matter of fact, the real value of research lies in its ability to arrive at
certain generalizations.
If the researcher had no hypothesis to start with, he might seek to explain his
findings on the basis of some theory. It is known as interpretation.
The process of interpretation may quite often trigger off new questions which in
turn may lead to further researches.

99. 11. Preparation of the report or the thesis:
Finally, the researcher has to prepare the report of what has been done by him.
Writing of report must be done with great care keeping in view the following:
1. The layout of the report should be as follows:
(i) the preliminary pages;
(ii) the main text, and
(iii) the end matter.
In its preliminary pages the report should carry title and date followed by acknowledgements
and foreword.
Then there should be a table of contents followed by a list of tables and list of graphs and
charts, if any, given in the report.

101. RESEARCH APPLICATIONS IN BUSINESS DECISIONS
 Businesses of all types and sizes undertake extensive research
methods to improve and grow. The long term success of a start up,
medium sized business and even established business depends on
efficient and cost effective research undertaken.
 Companies often rely on various business research methods to obtain
information from the consumers or other businesses. Such business
research methods undertaken enable a company to do an in depth
study about several internal and external factors influencing the market
share and profitability of the company.

102. RESEARCH APPLICATIONS IN BUSINESS DECISIONS
 Business research methods that help in decision making
 Based on the information obtained through the different business
research methods, companies whether new or established can
undertake some essential business decisions such as the following-
• Possibility of the business to survive and succeed in a new
geographical region
• Assessment about competitors
• Adopting a suitable market approach for a product
 Businesses may choose to adopt either one or all of the below
discussed research methods to achieve their business goals:

107. Features Of Good Research Study : Criteria for Good Research
1.The purpose of the research should be clearly defined and common concepts be
used.
2. The research procedure used should be described in sufficient detail to permit
another researcher to repeat the research for further advancement, keeping the
continuity of what has already been attained.
3. The procedural design of the research should be carefully planned to yield results
that are as objective as possible.
4. The researcher should report with complete frankness, flaws in procedural design
and estimate their effects upon the findings.

108. 5. The analysis of data should be sufficiently adequate to reveal its significance and
the methods of analysis used should be appropriate.
The validity and reliability of the data should be checked carefully.
6. Conclusions should be confined to those justified by the data of the research and
limited to those for which the data provide an adequate basis.
7. Greater confidence in research is warranted if the researcher is experienced, has a
good reputation in research and is a person of integrity.

109. THANKYOU