8. MANAGEMENT DECISION PROBLEM
DISCUSSION WITH SUBJECT EXPERT
1
2
REVIEW EXISTING
LITERATURE
ORGANIZATIONAL
ANALYSIS
QUALITATIVE SURVEY
MANAGEMENT RESEARCH PROBLEM
3
4
5
6
9. 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?
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Should the company continue with existing security
service vendor?
Whom should ICICI choose its next MD – Mr. ABC or
Mrs. XYZ?
MANAGEMENT RESEARCH PROBLEM
6
10. STATEMENT OF RESEARCH OBJECTIVES
7
RESEARCH QUESTION NEEDS TO BE BROKEN DOWN
CLEARLY DEFINED OBJECTIVES TO BE MET TO SOLVE RESEARCH PROBLEM
11. EXAMPLE
Objectives:
1. To study existing organic market:
▪ To categorize organic products into grains, snacks, herbs, fruits and vegetables
▪ To estimate demand pattern of each of the above
▪ To understand marketing strategies of market players
15. 1. Identify a broad field or subject
area of interest to you
Ask yourself, ‘What is it
that really interests me
as a professional ?
16. 2. Dissect the broad are a into
subareas
Finance
Stock Market
Precious Metals
Personal Finance
Mutual Fund
Currency
17. 3. Select what is of most interest to
you
Finance Stock Market
Precious Metals
Personal Finance
Mutual Fund
Currency
This is it !
18. 4. Raise research questions
What is it that I want to
find out about in this
subarea?
19. 4. Raise research questions
Make a list of whatever questions come to your mind relating to
your chosen subarea
Why does
market
fluctuate?
Is there any
relation
between stock
market and
currency
market
Why do
people lose
money in the
market?
Analysis of
various
brokers in
stock
market
21. 6. Assess your objectives
Can I achieve my
objectives in
time?
Do I have
adequate
amount of
money?
Do I have
technical
expertise to carry
out research?
22. 7. Double
check
Am I really
enthusiastic
about the study?
Do I really have
enough
resources to
undertake study?
25. Solve the following problems
Constant breakdown of machinery
Reduced productivity of shop floor workers
Increased employee absenteeism
Decrease in sales and profit
27. SUMMAR
1. Problems arise due to gap i
Y
n the knowledge
2. The gap can be filled up by doing research
3. Sources of Problems: Observation, decision dilemma, daily experience, reading,
intuition, field situations, consultation, brain storming, academic experience
4. Criteria for selection: Internal (interest, competence, resources) and external
(importance, usefulness, urgency, novelty, feasibility, researchable)
5. Research problem Identification:
▪ Decision Problem >>> Discussion with expert >>> Literature Review >>> Org. Analysis >>>
Qualitative Survey >>> Research Problem >>> Statement of objectives
6. Formulation of problem:
▪ Identify broad area >>> Dissect broad area >>> Select what interests you >>> Raise research
question >>> Formulate objective >>> Assess Objectives >>> Double check
28. SUMMAR
Y
7. Problem Solving Process:
▪ Identify problem >>> Gather Data >>> Clarify problem >>> Generate possible solutions >>>
Select >>> Implement & monitor