RESEARCH METHODS FOR MANAGEMENT

UNIT I

RESEARCH-MEANING
Search For Knowledge (SFK) Scientific & Systematic Search For Pertinent Information On A Specific Topic. An Art Of Scientific Investigation. SFK Through Objective And Systematic Method Of Finding Solution To A Problem

DEFINITION OF RESEARCH
Systematized Effort To Gain Knowledge - REDMAN & MORY New

Research Comprises Defining And Redefining Problems, Formulating Hypothesis Or Suggested Solutions; Collecting, Organizing & Evaluating Data; Making Deductions And Reaching Conclusions; And At Last Carefully Testing The Conclusions To Determine Whether They Fit The Formulating

OBJECTIVES OF RESEARCH
To gain Familiarity with a Phenomenon (Exploratory). To achieve new insights (Formularize) Portray Accurately the Characteristics of a Particular Individual / Situation /Group (Descriptive) To Determine the Frequency with which Something Occurs (Diagnostic )

MOTIVES
DESIRE TO: Research Degree For Consequential Benefits Face Challenges In Solving Unsolved Problems Gain Intellectual Joy From Creative Work Service To Society Get Respectability

SIGNIFICANCE
1.Inculcates Scientific & Inductive Thinking 2.Promotes The Development Of: Logical Habits Of Thinking Organization 3. Solving Operational Problems 4. Aid To Economic Policy: Government Organization Example : BUDGET

SIGNIFICANCE

Contd

6.FACILITATES DECISION MAKING

7.COLLECTION OF DATA ON ECONOMIC & SOCIAL STRUCTURE - Investigation Of Economic Structure - Diagnosis Of Events - Prediction Of Future Developments 8.SOLVING VARIOUS OPERATIONAL & PLANNING PROBLEMS Of BUSINESS & INDUSTRY - Market Research - Purchase, Production, Sale - Operations Research - Maths, Logical, Analytical - Motivational Research - Behaviour To Market

SIGNIFICANCE

Contd

9.Social Relationships & Solving Problems: -Understanding & Predicting Human Interaction -Practical Guidance In Solving Human Relations Problems 10.Student - Careerism 11.Professionals - Source Of Livelihood 12.Philosophers - Outlet For New Ideas & Insight 13.Literary Men & Women - Development Of New Styles & Creativity 14.Analysts & Intellectuals - Generalization Of New Theories

UTILITIES OF BUSINESS RESEARCH

PROGRESS AND GOOD LIFE DEVELOPMENT OF SCIENTIFIC ATTITUDE CREATIVITY & INNOVATION

- Knowledge Is Power , Establishing New Theories PREDICTION & CONTROL` (Actual & Predicted Happenings) PURPOSIVE DEVELOPMENT (Development = Growth +Change) PROBLEM SOLVING SCHEMATIC EVALUATION (Strength & Weakness) IMPACT, ANALYSIS & IMPROVEMENT ( Bio, Socio, Business & Economic ) METHODOLOGICAL (Validation of results)

TESTING HYPOTHESIS AND ESTABLISHING THEORIES

TYPES OF RESEARCH
DESCRIPTIVE Surveys & Fact finding, => Ex Post Facto- No control over variables. ANALYTICAL- Find inner combination & complexities of facts already available. APPLIED - Solving problem of Society / Bus /Ind FUNDAMENTAL/PURE/ BASIC- Search principles to new theory or revalidate theory. HISTORICAL Utilises Historical sources FUTURISTIC- Looks forward into future.

TYPES Contd..1
QUANTITATIVE- Based on measurement of Qty or amt.- expressed in terms of Qty. QUALITATIVE- Assessment of Attitude,0pinion,etc EXPLORATORY-Explores less researched area EXPLANATORY- Explanations or solution to problem-hypothesis testing . PRESCRIPTIVE- Emphasis on classification of good or bad.

TYPES Cont2
CASE STUDY: Study of an entity or unit i.e a person / group/ institution.. SURVEY: Study a plural number of entities. EXPERIMENTAL: Conducting tests in a real time. Establishing causes & effects. DESK: Involves working with published data. ONE-TIME: Confined to 1 time period LONGITUDINAL- Carried over several time period . FORMALISED :With specific Hypotheses to be tested.

RESEARCH PROCESS PROCEDURAL GUIDELINES

1.FORMULATING RESEARCH PROBLEM 2.EXTENSIVE LITERATURE SURVEY 3. DEVELOPMENT OF HYPOTHESIS 4.PREPARING THE RESEARCH DESIGN 5. DETERMINING SAMPLE DESIGN 6. COLLECTING THE DATA

GUIDELINES-Contd
7.EXECUTION OF THE PROJECT 8.ANALYSIS OF DATA 9. HYPOTHESIS TESTING 10.GENERALISATION & INTERPRETATION 11.PREPARATION OF REPORT / THESIS

2 Types of R.P : 1.Relating to nature 2.Relating to relationship between variables Steps involved : 1.Understanding the problem 2. Rephrasing the same into meaningful terms Examine the available Literature : - Conceptual Literature - Empirical Literature Verify the objectivity and Validity :

1. FORMULATING RESEARCH PROBLEM

Conditions for Research Problem

There must be an individual /Org/Instn which has a Problem - (I) There must be an environment (N) Uncontrolled Variables (Yj) There must be at least 2 course of ActionC1,C2 There must be at least 2 possible outcomesO1,O2 - Course of action must provide some chance of obtaining the objectives. - P(O1 / I,C1,N) = P(O1 / I,C2,N) Choice must have unequal efficiencies.

SELECTING THE PROBLEM

Research Problem cannot be borrowed Problem must spring from researchers mind Subjects which is overdone should not be chosen Controversial subject should not be chosen Too narrow or vague problems to be avoided Subject chosen should be familiar and feasible Importance of the subject, cost involved,

TECHNIQUES INVOLVED IN DEFINING A PROBLEM

Statement of the problem in a general way- (Practical , Scientific, intellectual) Understanding the nature of the problem. Surveying the available literature. Developing the ideas through discussions (Experience Survey) Rephrasing the Research Problem

SOURCES FOR PROBLEM IDENTIFICATION

Research students can adopt the following ways to identify the problems:

Research reports already published may be referred to define a specific problem. Assistance of research organisation, which handles a number of projects of the companies, can be sought to identify the problem. Professors, working in reputed academic institution can act as guides in problem identification. Company employees and competitors can assist in identifying the problems. Cultural changes and Technological changes can act as a sources for research problem identification. Seminars / symposiums / focus groups can act as a useful source.

CONCEPTS A concepts is a word or set of words that express a general idea concerning the nature of thing or the relations between things. Often providing a category for the classification of phenomena. Concepts are man made for example personality, family, society, event, status, change,growth etc. are all concepts. Concepts are explained through definitions for example investor, carries many meaning, corporate investor, retail investor, individual investor etc. so, it has to be explained through clear definitions to avoid the misunderstanding of the concept of the research under study. The role of concepts is to establish some kind of link with the social world. Concepts are regarded very imp. In the theoretical frame work that sets a context for the research, as being involved in the statement of a

CONSTRUCTS A construct is a concept devised to aid in scientific analysis and generalization, thus a construct is a concept with the added meaning of having been deliberately and consciously invented or adopted for a special scientific purpose . For example intelligence is a concept and intelligence quotient (IQ) is a scientific construct, which enables behavioral scientist to measure the intelligence of a person.

THEORETICAL FRAMEWORK

A theoretical framework is a collection of interrelated concepts, like a theory but not necessarily so well worked-out.
A theoretical framework guides your research, determining what things you will measure, and what statistical relationships you will look for.

2. EXTENSIVE LITERATURE SURVEY

For writing the Synopsis or Thesis for Ph.D. Researcher should undertake extensive literature survey connected with the problem. Abstracting & Indexing Journals ,Published & unpublished Articles Academic Journals, Conference Proceedings, Government Reports, Books etc.,

3.DEVELOPEMENT OF WORKING HYPOTHESIS

Working Hypothesis is tentative assumption made in order to draw out and test its logical or empirical consequences. Hypothesis must be very specific and limited. Helps In guiding the researcher in right track. Sharpens the thinking and focuses attention on important facets of the

CHARACTERISTICS OF HYPOTHESIS
1. Must be Clear and Precise. 2. Should be Capable of being tested. 3. Should State the Relationship between Variables. 4. Should be Limited in Scope & Specific. 5. Should be Stated in Simple terms. 6. Should be Amenable to testing within reasonable time. 7. It must actually what it claims to explain.

4. PREPARING THE RESEARCH DESIGN

State the Conceptual Structure within which research would be done. Types: Experimental or NonExperimental Considerations: -Means of obtaining information
- Availability and Skills of Researcher - Time Availability for Researcher - Cost Factor relating to research.

5.DETERMINING SAMPLE DESIGN

Field of INQUIRY Constitute a Universe Or Population. - Inquiry involves time , Money & Energy.

Hence, Few items are selected from Universe

6.COLLECTING THE DATA

Primary Data -Personal Interview - Questionnaire - Interview Schedules - Observation By Investigators - Telephone Interviews Secondary Data.

7. EXECUTION OF THE PROJECT 8. ANALYSIS OF DATA 9. HYPOTHESIS-TESTING: F-Test , t-Test ,Chi Square Test 10. GENERALISATION & INTERPRETATION
11. PREPARATION OF REPORT ------------

RESEARCH APPROACHES
I.QUANTITATIVE APPROACH
Generation of data in Quantitative form 1. Inferential Approach (To infer characteristics or Relationships) 2. Experimental Approach (Variables are manipulated to observe their effect on variables) 3. Simulation Approach (Construction of an Artificial Environment Helps in building Models for understanding Future Conditions)

II.QUALITATIVE APPROACH: Assessment of Attitude, Opinion & Behaviour.

CHARACTERISTICS OF GOOD RESEARCH

Purpose should be Clearly defined Research Procedure should be described - Keeping Continuity of what has already done. Research for further Advancement Procedural Design should be carefully planned to yield results. Researcher should report with Complete frankness the flaws in procedural design & estimate their effect on findings

CHARACTERISTICS OF GOOD RESEARCH

Analysis of data should be sufficiently adequate to reveal the significance. Validity and Reliability of the data should be checked carefully . Conclusions Should be confined to those justified by the research data. Greater Confidence in research is Warranted (Reasonable). Researcher Should be of a person of integrity (Reliable).

QUALITIES OF GOOD RESEARCH

GOOD RESEARCH MUST BE SYSTEMATIC: - Well defined set of Rules - Research should be structured / orderly sequence
GOOD RESEARCH IS LOGICAL: Guided by rules of logical reasoning -Induction Conclusion from the whole -Deduction- Conclusion from one or more facts or pieces of evidence.

QUALITIES OF GOOD RESEARCH

GOOD RESEARCH IS EMPIRICAL (Factual Investigation): -Validity can be checked through reliable sources and evidences. It must be an aspects of real situation. GOOD RESEARCH IS REPLICABLE: A researcher can verify the results by repeating the study and thereby delivering a sound decision making framework.

PROBLEMS ENCOUNTERED BY RESEARCHERS IN INDIA

1. Lack of Scientific Training in the Methodology of Research. 2. Insufficient interaction with University Research Depts., Govt., Pvt.Organisations, Business Units & Research Institutions. 3. Lack of Confidence on Researchers Misuse of Data 4. Research studies Overlapping one another are undertaken very often for want of adequate information's.

5 No Code of Conduct for researchers: - Rivalries are quite Common. 6. Lack of Adequate and Timely Secretarial Assistance leads to unnecessary delay . 7.Library Management & Functioning is not Satisfactory - Lack of new Acts , Rules, Back Volumes etc.,. 8. Difficulty of Timely Availability of published Data. 9. Problem of Conceptualization. 10.Problems Relating to Process of Data Collection and Relating Things.

SCIENTIFIC METHODS
Scientific research is one which yields the same results when it is repeated by different individuals The scientific method consists of the following steps : (i) Systematic problem analysis; (ii) model Building; and (iii) Fact finding methods, used for the purpose of important decisionmaking and to regulate the marketing of goods and services.

PROCESS AND LOGIC IN SCIENTIFIC RESEARCH

1. Observation: The researcher wants to observe, a set of important factors that is related to his problem. 2. Formulates Hypothesis: The researcher formulates hypothesis, which will explain what he has observed. 3. Future Prediction: The researcher draws a logical conclusion. 4. Testing the hypothesis: Is the conclusion based on data.

CHARACTERISTICS OF SCIENTIFIC METHOD (a) Validity (b) Reliability - Dependability

-Validity is the ability of a measuring instrument to measure what it is supposed to measure.

WHY MR CANNOT BE CONSIDERED SCIENTIFIC In M.R questionnaire is the instrument is used. There are five problems faced by researcher regarding validity and reliability. 1. Different respondent interpret the same question in different ways. So the reply of the respondent will be different. 2. Whether sample is a representative of the population or not. 3. Same questionnaire administered by different interviewers will yield different results. 4. Measuring instrument namely questionnaire may not state clearly what is being measured. 5. Lab experiment is held under controlled condition.

DISTINCTION BETWEEN SCIENTIFIC AND UNSCIENTIFIC METHOD There are three major differences: -Rational and objective.
Conclusions should be based on facts. Mindset should not influence decision making.

- Accuracy of measurement.
Accuracy using scientific instrument can be ensured.

- Maintaining continuity in investigation: In science, there is continuity.