Meaning and Nature of Research_Parakramesh Jaroli_MBA_RM

1. Presented By:
Parakramesh Jaroli
MBA (Dual) II - Semester

2. MEANING & NATURE OF
RESEARCH
UNIT 1.1
BUSINESS RESEARCH METHODS - I

3. What is Research?
Research is an art of scientific investigation.
It is regarded as a systematic efforts to gain new
knowledge.
The dictionary meaning of research is “a careful
investigation or enquiry especially through
search for new facts in any branch of
knowledge”.
BUSINESS RESEARCH METHODS - I

4. Definition of Research
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
BUSINESS RESEARCH METHODS - I

5. Nature of Research
• It strives to be objective and logical.
• It is based on observable experience or
empirical evidence.
• It is characterised by patient and unhurried
activity.
• It demands accurate observations,
reservations and descriptions.
BUSINESS RESEARCH METHODS - I

6. Contd…
• It is directed towards the solution of the
problem.
• It is carefully recorded and reported.
• It requires expertise.
• It involves gathering new data from primary or
firest hand sources or using existing data for
new purpose.
BUSINESS RESEARCH METHODS - I

7. Objectives of Research
• To investigate a subject.
• To collect data regarding the problem.
• To conduct logical and objective study.
• To conduct a systematic enquiry of the
subject.
• For carefully recording, reporting and
presenting the facts.
BUSINESS RESEARCH METHODS - I

8. BUSINESS RESEARCH METHODS - I
Types of
Research
Fundamental
Research
Empirical
Research
Analytical
Research
Qualitative
Research
Conceptual
Research
Applied
Research
Descriptive
Research
Quantitative
Research
Historical
Research

9. Flow Chart of Research Process
BUSINESS RESEARCH METHODS - I
Define Research
Problem
Review of the
Literature
Formulate
Hypothesis
Design Research
Collection of
Data
Analyze the
Data
Interpret
&
Report

10. Significance of Research
• It provides the basis for nearly all
government policies in our economic system.
• It helps in solving various operational and
planning problems of business and industry.
• It is an aid to decision making.
• It establishes the relation between variables.
BUSINESS RESEARCH METHODS - I

11. Contd…
• It is equally important for social scientists in
studying social relationships and in seeking
answers to various social problems.
• It provides a basis for innovation.
• It facilitates the process of thinking, analysis,
evaluation and interpretation of various
situation.
BUSINESS RESEARCH METHODS - I

12. Criteria for Good ResearchCriteria for Good Research
• Purpose should be clearly defined.
• Common concepts should be used that can be
understood by all.
• Research procedure should be explained in
detail.
• Research design should be carefully planned.
• Researcher should declare all the possible
errors and their possible impact on finding.
BUSINESS RESEARCH METHODS - I

13. Contd…
• Analysis of data should be sufficiently
adequate to reveal significance.
• The methods of analysis should be
appropriate.
• The validity and reliability of the data should
be checked carefully.
• The researcher have good command over
research methodologies and should be
intelligent and experience.
BUSINESS RESEARCH METHODS - I

14. Limitations of Research
• It is based on sample & sampling research lacks the
complete accuracy.
• Long time is required in the research procedures.
• Difficult to evaluate the economic benefits derived
from the research.
• Trained personnel and a lot of time are required for
research.
• Lack of adequate knowledge of research.
BUSINESS RESEARCH METHODS - I