Research Methodology

Research refers to a search for knowledge Research can also defined as a Scientific and systematic search for pertinent information on a specific topic In fact research is an art of scientific investigation

 Some people consider Research as a movement, a movement from known to the unknown Research is an academic activity so the term should be used in technical sense

According to Clifford Woody:

Research comprises: Defining and redefining problems Formulating hypothesis or suggested solutions Collecting, organizing and evaluating data Making deductions and reaching conclusions At last carefully testing the conclusions to determine whether they fit the formulating hypothesis

In short the search for knowledge through objective and systematic method of finding solution to a problem is Research

Objectives of research
The purpose of research is to discover answers to questions through the application of scientific procedures The following are the objectives: 1. To gain familiarity with a phenomenon or to achieve new insights into it 2. To portray accurately the characteristics of a particular individual, situation or a group. 3. To determine the frequency with which something occurs or with which it is associated with something else 4. To test a hypothesis of a causal relationship between variables

Motivation in Research

The possible motives for doing research may be either one or more of the following: 1. Desire to get a research degree along with its consequential benefits 2. Desire to face the challenge in solving the unsolved problems 3. Desire to get intellectual joy of doing some creative work 4. Desire to be of service to society 5. Desire to get respectability

Types of Research
Descriptive Vs. Analytical Applied Vs. Fundamental Quantitative Vs. Qualitative Conceptual Vs. Empirical Some other types

Descriptive Vs. Analytical

Descriptive research includes surveys and fact finding enquiries of different kinds. The main characteristic of this method is that the researcher has no control over the variables, he can only report what has happened or what is happening In Social Science and business research the term used for descriptive research is Ex post facto research In analytical research the researcher has to use facts or information already available, and analyze these to make a critical evaluation of the material

Applied Vs. Fundamental

Research can either be applied (action) or Fundamental (basic or pure) Applied research aims at finding a solution for an immediate problem facing a society or an industrial/Business organization Fundamental research is mainly concerned with generalization and with the formulation of a theory.

Quantitative Vs. Qualitative

Quantitative research is based on the measurement of quantity or amount. It is applicable to a phenomena that can be expressed in terms of quantity Qualitative research is concerned with qualitative phenomenon. i.e., phenomena relating to or involving quality or kind

Conceptual Vs. Empirical

Conceptual Research is that related to some abstract ideas or theory Empirical Research relies on experience or observations alone . It is data based research coming up with conclusions which are capable of being verified by observation or experiment

Research Approaches
There are two basic approaches: Quantitative Approach Qualitative Approach

Quantitative Approach

The quantitative approach involves the generation of data in quantitative form which can be subjected to rigorous quantitative analysis in a formal and rigid fashion This approach is further subdivided into 1. Inferential 2. Experimental 3. Simulation approaches

Inferential Approach: to form a database from which to infer characteristics or relationship of a population Experimental Approach: Some variables are manipulated to observe their effects on other variables Simulation Approach: It involves the construction of an artificial environment within which the relevant information and data can be generated

Characteristics of a good research

Systematic Logical Empirical Replicating Sufficient Objective

Significance
The role of research in several fields of applied economics whether related to business or to the economy as a whole has greatly increased in modern times. Research provides the basis for nearly all government policies in our economic system Research has its special significance in solving various operational and planning problems of business and industry Research is equally important for social scientists in studying social relationship and in seeking answers to various problems

Management Research

The management research can be defined as the process of systematic investigation of any management problem

Objectives
Decision making Project Policy Controlling Economic and Business environmental Market objective Product development Innovation Customer satisfaction Profit and promotional Corporate Image

Research Process

Research process consists of series of actions or steps necessary to effectively carry out research and the desired sequencing of these steps 1. Formulating the research problem 2. Extensive literature survey 3. Development of working hypotheses 4. Preparing the research design

5. Determining Sample design 6. Collecting the data 7. Execution of the project 8. Analysis of data 9. Hypothesis testing 10. Generalizations and Interpretation 11. Preparation of the report or thesis

Criteria of good research

1. The purpose of the research should be clearly defined and common concepts be used 2. The research procedure used should be described in sufficient detail to permit another researcher to repeat the research for further advancement, keeping the continuity of what has already been attained 3. The procedural design of the research should be carefully planned to yield results that are as objective as possible

4. The researcher should report with complete frankness and estimate their effects upon the findings 5. The analysis of data should be sufficiently adequate to reveal its significance and the methods of analysis used should be appropriate 6. Conclusions should be confined to those justified by the data provide an adequate basis

Research problem

A research problem refers to some difficulty which a researcher experiences in the context of either theoretical or practical situation and wants to obtain a solution for the same.

Components of a research problem

1. There must be an individual or a group of which has some difficulty or the problem 2. There must be some objective (s) to be attained at. 3. There must be alternative means (or the courses of action) for obtaining the objective(s) one wishes to attain. This means that there must at least two means available to a researcher for. 4. There must remain some doubt in the mind of a researcher with regard to the selection of alternatives 5. There must be some environment to which the difficulty pertains

Thus, A research problem is one which requires a researcher to find out the best solution for the given problem. i.e. to find out by which course of action the objective can be attained optimally in the context of a given environment

Selecting the Problem

1. Subject which is overdone should not be normally chosen 2. Controversial subject should not become the choice of an average researcher 3. Too narrow or too vague problems should be avoided 4. The subject selected for research should be familiar and feasible so that the related research material or sources of research are within ones reach. 5. The importance of the subject, the qualifications and the training of a researcher, the costs involved, the time factor are also be considered in selecting a problem 6. The selection of the problem must be preceded by a preliminary study

Technique involved in defining a problem

1. 2. 3. 4. 5. Statement of the problem in a general way Understanding the nature of the problem Surveying the available literature Developing the ideas through discussions Rephrasing the research problem into a working hypotheses

The following points must also be considered while defining a research problem (a) Technical terms and words or phrases, with special meanings used in the statement of the problem should be clearly defined (b) Basic assumptions or postulates relating to the research problem should be clearly stated (c) A straight forward statement of the value of the investigation should be provided (d) The suitability of the time period and the sources of data available must also be considered (e) The scope of the investigation or the limits within which the problem is to be studied must be mentioned explicitly in defining a research problem