Research Methods
14MBA23
--- Content provided by FirstRanker.com ---
Module 1
Objectives of Course
- To provide an understanding on the concepts of research methods.
- To expose the students to the role that plays in business decisions.
Meaning
--- Content provided by FirstRanker.com ---
- Research in common man's language “Search for knowledge"
- Research is an art of scientific invest
- It is also a systematic design, collect and the reporting the findings ad sol problems of business
Definition
- Systematic approach towards investigation.
--- Content provided by FirstRanker.com ---
Definition
- According to Robert Ross, “research is an investigation, a recording and evidence for the purpose of gaining
Features of Good research
- Objectivity: must answer research question
- Control : all variables – data, sample
- Generalisability : same result with identical method
- Free from personal bias :
- Systematic :
--- Content provided by FirstRanker.com ---
Features of Research
- Is essentially an investigation
- Is related with the solution of a problem
- It is based on observation or experiment
- It demands accurate observation or exper
- In research, the researchers try to find out unsolved questions
- It should be carefully recorded and report
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
Types of Research
- Grouped under two categories
- 1 Fundamental research
- The science of psychology
- 2 Applied research
- Apply the psychology
--- Content provided by FirstRanker.com ---
Types of Research
- Exploratory research
- At beginning when the problem is cleared
- Eg: sales decline in a company may be due to inefficient service, price, promotion, quality
--- Content provided by FirstRanker.com ---
Types of Research
- Exploratory research
- Expert surveys, focus groups, case and observation methods.
Types of Research
- Descriptive Research
- It is fact finding investigation.
- Describes the state of view as it exists at present
- It does not establish cause and relation
- Eg: consumption of soft drinks with socioeconomic character – age, family
--- Content provided by FirstRanker.com ---
Types of Research
--- Content provided by FirstRanker.com ---
- Applied research
- Deals with real life situation
- Aims at finding immediate solution to problems.
- Eg: why the sales decreased during
- Use of fibre body for cars instead of
--- Content provided by FirstRanker.com ---
Types of Research
- Pure/ Fundamental or basic
- Gathering knowledge
- Eg: theory of relativity by Einstein
Types of Research
--- Content provided by FirstRanker.com ---
- Conceptual Research
- It is generally used by philosophers
- It is related to some abstract idea
- Eg: ideology of 'isms', Gandhism
Types of Research
--- Content provided by FirstRanker.com ---
- Casual Research
- To determine the cause and effect relationship between the two variables
- Eg: effect of advertisement on sale
Types of Research
- Historical Research
- Study of past records and data's
- Eg: value of shares of company is the historical research
--- Content provided by FirstRanker.com ---
Types of Research
- Ex-post facto Research/ Empirical
- Examination of relationship that between independent and dependent variable
- Eg: what has happened because of what is happening because of
--- Content provided by FirstRanker.com ---
Types of Research
- Action research
- Research is done directly by action
- Geographical location is identified
- Samples are selected
- Response is collected
- Eg: test marketing
--- Content provided by FirstRanker.com ---
Types of Research
- Evaluation Research
- It is an applied research.
- It is conducted to find out how well programmes are implemented
- Eg: "Success of Midday Meal Prog", "Swatch Bharat Abhiyan"
--- Content provided by FirstRanker.com ---
Types of Research
- Library Research
- It is done to gather secondary data
- Eg: consumption of soft drinks with socioeconomic character – age, family
--- Content provided by FirstRanker.com ---
Process of Research
- Defining the research problem and review literature
- Formulation of hypothesis
- Research Design
- Collecting data
- Analysing data and testing hypothesis
- Preparation of report and preliminary
- Interpreting and reporting the findings
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
Research Process
- Problem formulation
- Method of inquiry
- Research method
- Research design
- Select data collection techniques(s)
- Sample design
- Data collection
- Analysis and Interpretation
- Findings, conclusions and recommendations
- Research report
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
1.Defining Research Problem
- Converting Management problem into Research
- MP: want to increase sales of product A
- RP : what is the current the sale of product
--- Content provided by FirstRanker.com ---
1.Defining Research Problem
- Followings to be considered
- 1 Determine the objective of the study
- 2. Consider various Environmental Issues: Purchasing habits, competitors, brand image, market and target customers
- 3. Nature of the problem: Brand image, not buying, why to competitors products, audience?
- 4. Stating the alternatives: Developing hypothesis
--- Content provided by FirstRanker.com ---
1.Defining Research Problem
- Reviewing the literature
2. Formulation of Hypothesis
- A hypothesis is a proposition – a tentative assumption which a researcher wants to test its logical or empirical consequences
- Eg.
- To increase the sales whether to introduce
- Hypothesis: The acceptance of Sachet by customers increase the sales by 20%
--- Content provided by FirstRanker.com ---
Formulating Hypothesis
- Hypothesis are generally concerned with the phenomenon or a relationship between two or
- We make certain assumptions to about the parameters tested- these assumptions are known as Hypo
--- Content provided by FirstRanker.com ---
Formulating Hypothesis
- Null Hypothesis Ho : introducing sachet will not increase sales by 20%
- This is tested against
- Alternative Hypothesis H 1 : introducing sachet will increase sales
- Decisions to be taken whether Null Hypothesis is Accepted or Rejected
--- Content provided by FirstRanker.com ---
- Error 1
- Rejecting the null hypothesis when the fact
- Error 2
- Accepting the null hypothesis when the fact
--- Content provided by FirstRanker.com ---
2. Method of Inquiry
- Qualitative - subjectivity: This is used for those data which cannot be quantified in exploratory research. Respondents are small compare to quantitative research
- Quantitative – objectivity : major of data.
3. Research Method
- Experimental :
- extraneous variables are controlled
- Eg: Which print advertisement is effective? Is it the front page, Middle page
--- Content provided by FirstRanker.com ---
- Non Experimental:
- cannot control extraneous variables
4. Research Design
--- Content provided by FirstRanker.com ---
“Specific methods and procedures , Information needed"
Based on research method, research
- Exploratory – identification of problem
- Descriptive – describes characteristic
- Causal- predictive, reasons why, relation
--- Content provided by FirstRanker.com ---
5. Data collection Tools
- What data to collect?
- How to collect the data?
Secondary:
Primary:
--- Content provided by FirstRanker.com ---
- Communication – questionnaire
- Observation
6. Sample Design
- Where the sample is to be selected? - the population
- Process of selection – Probability/Non probability
- Size of the sample – n?
--- Content provided by FirstRanker.com ---
7. Analysis and Interpretation
- Descriptive statistical measures - central tendency, percentage, proportion, mean, variance
- Univariate Analysis:
- Z-test (n>30), t-test (n<=30), (for continuous
- Chi-square goodness of fit test (for
--- Content provided by FirstRanker.com ---
- Bivariate Analysis:
- Cross tabulation with chi-square (for categorical)
- Z-test, t-test, ANOVA(for continuous
- Chi-square test (for categorical
- correlation, regression
--- Content provided by FirstRanker.com ---
Data Can be analyzed through charts, Graphical representation
8. Research Report
- Written Report
7 STEPS OF RESEARCH PROCESS
--- Content provided by FirstRanker.com ---
- Step One: Define research problem
- Step Two: Review of literature
- Step Three: Formulate hypotheses
- Step Four: Preparing the research design
- Step Five: Data collection
- Step Six: Data analysis
- Step Seven: Interpretation and report writing
--- Content provided by FirstRanker.com ---
Define research problem -> Review the literature -> Formulate hypotheses -> Design research -> Analyse data
Step One: Define Research
There are two types of research problem, viz.,
--- Content provided by FirstRanker.com ---
- relate to states of nature
- relationship between variables.
Essentially two steps are involved in defining a problem, viz.,
- understanding the problem thoroughly and
- rephrasing the same into meaningful terms from an operational point of view.
--- Content provided by FirstRanker.com ---
Step Two: Review of Literature
- Once the problem is define, a brief summary should be written down. It is compulsory for a research worker writing a thesis for a Ph.D. to write a synopsis of topic and submit it to the committee or the research board for approval.
Step Three: Formulate Hypothesis
- Formulate hypothesis is tentative assumption in order to draw out and test its logical or empirical consequences. Hypothesis should be very specific and limited to the piece of research in hand because it has to be tested.
The role of the hypothesis is to guide the researcher by delimiting the area of research and to keep him on the right track.
--- Content provided by FirstRanker.com ---
Step Four: Preparing the Research Design
- The function of research design is to provide for the collection of relevant evidence with minimal expenditure of effort, time and money.
- Research purpose may be grouped into four categories, viz., (1) Exploration, (2) Description, (3) Diagnosis, and (4) Experimentation.
Step Five: Data Collection
- Primary data can be collected through:
- By Observation
- Through personal interview
- Through telephone interview
- By mailing of questionnaires
- Through Schedules
--- Content provided by FirstRanker.com ---
--- Content provided by FirstRanker.com ---
Step Six: Data Analysis
The analysis of data requires a number of closely related operations such as establishment of categories.
This stage mainly include :
- Coding
- Editing
- Tabulation
--- Content provided by FirstRanker.com ---
Step Seven: Interpretation Report Writing
Researcher has to prepare the report of what has been done by him.
Writing of report includes:
- the preliminary pages;
- the main text, and
- the end matter.
--- Content provided by FirstRanker.com ---
Explain various Research Applications in Business Decision making
--- Content provided by FirstRanker.com ---
This download link is referred from the post: VTU MBA Lecture Notes - 1st Sem, 2nd Sem, 3rd Sem and 4th Sem || Visvesvaraya Technological University