Time Horizon?

A time horizon, also known as a planning horizon, is a fixed point of time in the future at which point
certain processes will be evaluated or assumed to end.

There are two types of time horizons namely Longitudinal and Cross-sectional.

Research Ethics?
“Research ethics” refers to a diverse set of values, norms and institutional regulations that help
constitute and regulate scientific activity.

Issues related to Ethical concern in Research

 Plagiarism
 Misuse of Privileged Information
 Data
 Authorship and Other Publication Issues

PROBABILITY SAMPLING?
“Probability sampling (or representative sampling) is most commonly associated with survey-based
research strategies where you need to make inferences from your sample about a population to answer
your research question(s) or to meet your objectives.

Research Approach?
It is a plan structured and strategy of investigation of answering the research question. It is a overall
plan or blue print, the researcher select to carry out their study.

Two types of research approach are following:

1. Quantitative Research
2. Qualitative Research

Locating Secondary Data?

 Step 1: Identify what you wish to know and what you already know about your topic.
 Step 2: Develop a list of key words and names.
 Step 3: Begin your search using several library sources.
 Step 4: Compile the literature you have found and evaluate your findings.
 Step 5: If you are unhappy with what you have found or are otherwise having trouble and the
reference librarian has not been able to identify sources, use an authority.
 Step 6: Report results
Data
Data can be defined as a systematic record of a particular quantity.

Secondary Data
They are the data that are sourced from someplace that has originally collected it. This means
that this kind of data has already been collected by some researchers or investigators in the
past and is available either in published or unpublished form. This information is impure as
statistical operations may have been performed on them already.

How Secondary Data is used/ useful?

Secondary data is available from other sources and may already have been used in previous research,
making it easier to carry out further research. ... Secondary data can provide a baseline for primary
research to compare the collected primary data results to and it can also be helpful in research design.

Advantages of Secondary data:

 Obtained quickly
 Inexpensive
 Usually available
 Enhances existing primary data
 May achieve research objective

Disadvantages of Secondary data:

• Incompatible reporting units…need zip code data and only have County data.

• Measurement units do not match…need per capita income and only have household income.

• Class definitions are not usable…need to know percent of population with income above $100k
and only have $50k and over.

• Data are outdated.

 Explain Nature of business and management and explain research process?

Nature of business:
An Economic Activity. It is an economic activity as it is undertaken with the aim of earning money and
livelihood and not for psychological satisfaction.

Profit Earning. The main purpose of business is earning profit. If the profit motive is missing in a
transaction, then it cannot be considered as business transaction

Uncertainty of risk. An important feature of business is the presence of risk factor in the transaction.
There is always a possibility of losses.

Nature of Management
Management is to plan, organize, direct and control the resources of the organization for obtaining
common objectives or goals. It is related with resources like material, money, machinery, methods,
manufacturing and marketing. Management principles are universal in nature.

Research process
It is the systematic manner in which a researcher approaches their area of study to produce knowledge
which the community will consider to be worthwhile within the field.

There are four principles stages in the research process that we will cover here:

1. Inquiry
2. Collection
3. Organization
4. Presentation

Series of various actions, which are necessary to effective research work. Research process consists of a
number of closely related activities. Various steps involved in a research process are not mutually
exclusive; nor are they separate & distinct.