Research is defined as a systematic investigation to discover and establish facts. It involves collecting data through scientific methods to solve problems and gain knowledge. Research has key characteristics such as being controlled, rigorous, systematic, and verifiable. There are different types of research methods including descriptive, analytical, quantitative, and qualitative research. Research methodology refers to the systematic approach used to conduct research, including defining the problem, reviewing literature, collecting and analyzing data, and reporting results. The goal of research is to add to the body of knowledge in a scientific field.

1. BUSINESS RESEARCH METHODS
What is research?
Process of collecting/gathering data and information by a scientific or logical procedure
that aims to solve a particular scientific problem.
An attempt to solve or gain a solution to a problem.
• Search for knowledge.
• Research is an art of scientific investigation.
• It is a voyage of discovery.
CHARACTERISTICS OF RESEARCH:
• Controlled
• Rigorous
• Systematic
• Valid and verifiable
• Empirical
• Descriptive Research
• Analytical Research
• Quantitative Research
• Qualitative Research
• Conceptual Research
• One Time Research
• Historical Research
Research Methods:- All those methods or techniques that are used for conduction of research.
 It includes Those methods which are concerned with the collection of data.
 It consists statistical techniques which are used for establishing relationships b/w data and
unknowns.
 Methods which are used to evaluate the accuracy of the results obtained.
Research Methodology:-
 It is a way to systematically solve the research problem.
 It is a science of studying how research is done scientifically.

2. We study various steps that are adopted by researcher in studying his research problem
along with the logic behind them.
Criteria of a Good Research
 An ideal research should have
(i) clearly defined purpose and common concepts;
(ii) procedures described in details for further advancement;
(iii) a complete frank report with no manipulations;
(iv) procedural design of research carefully planned as to yield results that are as objectives as
possible;
(v) limits and justification of data for adequate conclusions;
(vi) proper analysis of data, methods used, and proper checking for the validity and reliability of
data; and
Scientific Method
The scientific method is a body of techniques for investigating phenomena, acquiring new
knowledge, or correcting and integrating previous knowledge.
Characteristics
1. objectivity;
2. accuracy of measurement
3. self criticism.
4. Verifiable
5. Definite
6. Predictable
7. General
8. Modifiable
Research applications in marketing
 Market & consumer analysis
 Product research
 Pricing research
 Promotional research
 Place research
Research applications in finance
 Asset pricing, capital markets and corporate finance
 Financial derivatives and credit risk modeling research
 Market-based accounting research
 Auditing and accountability
Research applications in human resources
 Training & development studies
 Selection and staffing studies
 Performance appraisal–design and evaluation

3.  Organization planning and development
Research applications in
production & operations management
 Operation planning and design
 Demand forecasting and demand estimation
 Process planning
 Project management and maintenance effectiveness studies
Technique Involved in Defining a Research Problem
It comprises of:
 (i) Statement of the problem in a general way
 (ii) Understanding and exploring the nature of the problem
 (iii) Surveying the available literature.
 (iv) Developing the ideas through discussion.
 (v) Rephrasing the research problem.
What is a research proposal?
 A research proposal sets out the broad topic you would like to research (substance), what the
research would set out to achieve (aims and objectives), how you would go about researching
it (methodology), how you would undertake it within the time available (outline plan) and
what the results might be in relation to knowledge and understanding in the subject (potential
outcomes).
Elements of a Research Proposal
 Title
 Abstract
 Table of Content
 Section A: Introduction
 Section B: Review of the Related Literature
 Section C: Methodology
 Section D: Ethical/ Legal Consideration
 Section E: Time Schedule
 References
• A HYPOTHESIS is a prediction of a relationship between one or more factors
and the problem under study that can be tested.
• A hypothesis represents a declarative statement of the relations between two or
more variables.
Introduction
 Background of the study
 Statement of the problem
 Research Objectives
 Research questions
 Significance of the study

4.  Scope of the study
 Delimitations of the study
 Assumptions of the study
 Definitions of key terms
Review of the Related Literature
 It “frames” the problem earlier identified.
 It shares with the reader the results of other studies that are closely related to
the study being reported.
Methodology
 Design of the study
 Population and sampling
 Research Instruments
 Pilot study
 Instrument Reliability and Validity
 Method of Data Collection
 Plan of Data Analysis
Ethical/ Legal Consideration
 Human research participants need:
 Informed consent
 Voluntary participation
 Restricted use of deception
 Debriefing
 Confidentiality
Time Schedule
• This section indicates exactly what will be done, the sequence of the various activities, and
the products of deliverables that will be prepared.
• In preparing grant proposals, there is more freedom to define the tasks. In both cases, it is
important that the proposed task structure includes all of the activities necessary for
completing the project.
• Planning a viable schedule for carrying out the tasks is often as important as developing a
comprehensive list of tasks.
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