This document discusses the scope and significance of research methodology. It outlines how research helps with decision making by identifying risks, alternative actions, and efficient use of resources. It also explores how research helps solve various business problems in areas like finance, production, marketing, and human resources. The document then examines the types of business problems researchers encounter and how research can be applied to different management functions. Finally, it outlines some common problems in research like lack of training, time/funding, and ensuring practical utility.