Research

He who asks is a fool for five minutes, but he who does not ask remains a fool forever.
Chinese Proverb

Business Research & Methods

Module 1

INVENTION: Ice Cream Cone

INVENTOR: Charles E. Menches, U.S., and an anonymous lady friend; Abe Doumar, U.S. YEAR: 1904 HOW INVENTED: Menches was an ice cream salesman at the Louisiana Purchase Exposition, the great fair in St. Louis, Mo. Whenever Menches visited a certain lady friend, he brought a bouquet of flowers. On one occasion, for a super date, he brought flowers and an ice cream sandwich. Because his lady friend lacked a vase for the flowers, she took one of the sandwich layers and curled it into the form of a vase. Then she rolled the other layer to contain the ice cream itself--and the ice cream cone was born.

Research problem
I observed families riding on two-wheelers the father driving the scooter, his young kid standing in front of him, his wife seated behind him holding a little baby. It led me to wonder whether one could conceive of a safe, affordable, all-weather form of transport for such a family," Tata said.

 Four years efforts to realise this goal. Today, we indeed have a people's car, which is affordable , safe, fuel efficient We hope it brings the joy, pride and utility of owning a car to many families who need personal mobility ." This small car Nano is 20 per cent shorter in length than the Maruti 800 but Tata claims it has 21 per cent more space is powered by a 623 cc rear-mounted engine and will travel 20 km per litre. The car will cost Rs 1 lakh at the dealer-end but attract ValueAdded Tax and transportation cost.

In the end What is the outcome?

Nano will also come in two deluxe models with air conditioning.

 Mukesh Ambani says Ensuring better returns to Indian farmers and manufacturers and greater value for the Indian consumer, both in quality and quantity, will be an integral feature of this project.

Syllabus
MODULE 1 (6 Hours) Research Meaning, types, criteria of good research, marketing research, scientific approach to research in physical and management science, limitations of applying scientific methods in business research problems, ethical issues in business research.

What is Business Research?

A systematic Inquiry whose objective is to provide information to solve managerial problems. Search for knowledge Systematized effort to gain new knowledgeRedman & Mory

Research comprises of:

Defining problems Formulating hypothesis Collecting, organising, and evaluating data Reaching solutions and At last testing the solutions to determine whether they fit the formulated hypothesis

Why Managers need Better Information?

Global and domestic competition is more vigorous Organizations are increasingly practicing data mining and data warehousing Increase in the complexity & risk More knowledge exists in every field Stake holders are better informed. The power & ease of todays computers to analyze the data

Why Study Research?

1. 2. 3. 4. Changes in business environment Managers increased need for information Explosive technology growth Problems with mergers, trade policies, Savings & investment issues 5. Continuous innovations

Research provides you with the knowledge and skills needed for the fast-paced decision-making environment

The Manager-Researcher Relationship

Managers obligations Specify problems Provide adequate background information Access to company information gatekeepers Researchers obligations Develop a creative research design Provide answers to important business questions

Manager-Researcher Conflicts
Managements limited exposure to research Manager sees researcher as threat to personal status Researcher has to consider corporate culture and political situations Researchers isolation from managers

When Research Should be Avoided

1) When information cannot be applied to a critical managerial decision 2) When managerial decision involves little risk 3) When management has insufficient resources to conduct a study 4) When the cost of the study outweighs the level of risk of the decision

Research is done through two methods

Arbitrary method Seeking answers to questions based on imagination, opinion, belief, or impression. Ex. Earlier belief that Shape of the earth was flat Disadvantages
It is subjective Finding varies form person to person. It is vague & inaccurate
Method 1

Research is done through two methods

Method 2 Scientific Method Method yields same results when repeated by different people. Is a systematic step by step procedure following the logical process of reasoning. Encourages doubts & criticism so that what emerges is the real evidence.

Steps in scientific methods

1. 2. 3. 4. Observation Formulation of hypothesis Future predictions Testing the hypothesis
Ex. Researcher conducts a market research for a client manufacturing women's jeans pant & tops

Advantages 1. Objective 2. Precise & arrives at conclusions on the basis of verifiable evidences. 3. Method is free from personal beliefs, attitudes & values.

Characteristics of scientific method

Careful & accurate classification of facts Discovery of laws Self criticism- Scientist should critically examine his own research in a detached manner. Validity- Validity is the ability of measuring instrument to measure what is supposed to Ex. Questionnaires for measuring the attitudes of respondents Horlicks Ex. Barometer, thermometer, Scale

Basis of scientific method

Relies on empirical evidence ( data collected through observation or experiment) Use of relevant concepts Commitment to objectivity Ethical neutrality True & accurate statements Does not pass normative judgments( Good or bad) Generalization Verifiability- Conclusions can be verified Ex Atom originally was considered to be indivisible Logical reasoning process -Based on reasoning process.

Logical reasoning process

Consists of Induction & Deduction. Induction- draws conclusions from one or more particular facts. It is a process of reasoning where by we arrive at universal generalizations from particular facts. Studying individual cases & drawing generalizations Ex. Test marketing of a new product

Induction
It involves two processes 1.Observation 2.Generalisation
Ex. If it is observed that educated girls have expensive habits one may conclude that all educated girls have expensive habits.

Deduction
Is a form of inference that purports to be conclusive Is the process of drawing generalizations through a process of reasoning on the basis of certain assumptions which are self evident or based on observation. Deduction can give conclusive evidence. Ex.1: Dr. Shekar is an adult. All adults are eligible to vote. Dr Shekar is eligible to vote. Ex.2:All products manufactured by TATA are good Nano car will also be good

Difference between Scientific method & Nonscientific methods

Scientific method 1. More objective 2. Hypothesis can be verified with the help of statistical principles 3. More precise, measurement & numerical analysis can be done. Non-scientific method 1. More subjective 2. Opinion differs from person to person. 3. Measurement & numerical analysis can not be done

Difference between scientific method & non scientific methods

Scientific Method 4. Takes cognizance of the existing knowledge in a particular field, carries out further investigations & compare the results so obtained earlier. 5. leads to the expansion of knowledge. Non-Scientific Method 4. Non scientific method may not contribute to the accumulation of systematic knowledge.

Difficulties in applying Scientific method in marketing

Role of Investigators Marketer is expected to be objective in his investigation. He can manipulate the data which is acceptable to clients Inaccuracy of measuring instruments Information is qualitative Ex. Brand preference Influence of measurement Human beings responses, behavior undergoes change. Time pressure

Difficulties in applying Scientific method in marketing

Scientist can measure the minute changes in the lab. & is sure of the accuracy of the measurement.
Market researcher has to deal with aspects like attitude of consumers, changes in their preferences & their impact on the consumption of a given product.

The instrument of measurement is questionnaire which is can not give high degree of precision.
Questionnaire is used by many interviewers Information collected by them will have different degrees of accuracy.

Difficulties in applying Scientific method in marketing

Scientific method is continuous & unending process leading to the accumulation of systematic knowledge. Marketing research is problem solving & problem oriented research.
Focus of investigation is narrow. It is an exhaustive study.

Difference between Research in Social science & Physical science

Physical science Social science

Body of techniques for investigating phenomena and acquiring new knowledge, as well as for correcting and integrating previous knowledge. Based on gathering observable, empirical, measurable evidence, subject to the principles of reasoning.

Research conducted by social scientists in sociology social psychology human geography, political science, social anthropology and education. They may monitor what is happening on a street today - or what was happening a few hundred years ago.

Difference between Research in Social science & Physical science

Physical science Social science

Is objective in nature Complete documentation of data and methodology available for careful scrutiny by other scientists and researchers. Experiments are conducted to quantify the results

Social scientists use different methods in order to describe, explore and understand social life. Subdivided into two broad categories. Quantitative methods qualitative methods

Characteristics of Research
i. Research is systematic, structured & critical investigation into a phenomenon. ii. It is not a mere compilation but a purposive investigation iii. It aims at describing interpreting & explaining a phenomenon. iv. It adopts a scientific method. v. It is objective, logical, applies possible tests & arrives at conclusions vi. It is based on observable experience or empirical evidence. vii. Research is directed towards finding answers to pertinent questions viii. It emphasizes the development of generalisation,principles or theories.

Objectives of Research
1. To gain familiarity with a phenomenon or to achieve new sights in to it 2. To determine the frequency with which some thing occurs 3. To test a hypothesis of a casual relationship between the variables 4. To portray accurately the characteristics of a particular individual , situation or a group. 5. To find answers to various types of questions why, where, how, what

Objectives of Research
6. Research unravels the mysteries of nature 7. Research establishes generalizations & general laws & principles. 6. Ex. Law of gravitation, law of demand, principles of organisation 8. Aims at finding solutions to problems 9. Aims at developing theories, concepts & principles 10. Research aids planning & thus contributes to national development

Criteria for good research

The purpose should be clearly defined. The research procedure used should be described in detail to permit another researcher to repeat the research for further development.

Criteria for good research

Procedural design of the research should be carefully planned to yield the results that are objective as for as possible. The researcher should report with complete frankness, The analysis of the data should be sufficiently adequate to reveal its significance. Researcher should be experienced & a person of integrity. Method of analysis should be appropriate. The validity& reliability of data should be checked carefully. Conclusions should be confirmed to those justified by the data of the research.

Types of Research

1.Applied research ( Action Research)

It aims at finding a solution for an immediate problem facing a society or an organisation.

1. Teacher finds that most of the students are weak in comprehension 2. A teacher innovates a method to improve the ability of the students. 3. Marketer studying the profitability of two or more products. 4. Developing a new market for the product.

2.Descriptive Research
It includes surveys & fact finding enquiries. It is concerned with describing the state of affairs as it exists at present. Ex. Trends in the consumption of soft drinks with respect to socio-economic characteristics such as age, family, income education level, profession. Employs any or all the methods of data collection. Ex, Questionnaire, Interview, observation

3.Fundamental Research
Concerned with generalizations & with the formulation of a theory.
Ex. Research concerning natural phenomenon or relating to pure science, Human behaviour in order to make generalizations.

4. One time research & Longitudinal research

Is a correlational research study that involves repeated observations of the same variables over long periods of time often many decades. Is a type of observational study. Are often used in psychology to study developmental trends across the life span, and in sociology to study life events throughout lifetimes or generations.

5.Exploratory research
This type of research is carried out at the beginning when the problem is very vague. To provide insights and understanding.
Ex. Sales decline

6.Historical Research
It is that which utilizes historical sources like documents, letters. Autobiographies, monuments, remains, paintings in order to establish facts & draw conclusions concerning the past.
Ex. Investors in the share market study past records or prices of shares

7. Ex post Facto research

In social research, the Ex post Facto research term is used. He has no control over variables. He can only report what has happened or what is happening.
Ex. Preferences of people.

8.Quantitative Research
Refers to the systematic empirical investigation of social phenomena via statistical, mathematical or computational techniques. Objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to phenomena.

9.Qualitative research
Aim to gather an in-depth understanding of human behavior and the reasons that govern such behavior. The qualitative method investigates the why and how of decision making, not just what, where, when.

10. Comparative Research

The research aims at comparing the institutions, practices, concepts, trends in economic variables. Ex. Customer service in different banks Model Building research Mostly done in the field of management. Model is constructed to show the relationship among many variables. Ex. Advertising models, Consumer behaviour models

11.Operations Research
The method of research to solve problems using scientific methods & quantitative techniques
Ex. Construction of flyovers

12.Library Research
Conducted with the help of written materials located in big libraries. Concerned with the evolution of theories, study involving cause & effect relationship & seeking out significant facts & interpretation of the past data.

13.Causal Research
It is conducted to determine the cause and effect relationship between 2 variables Ex. Effect of advertisement on sales

Significance of Research
All progress is born of enquiry. Doubt is better than overconfidence. For it leads to inquiry and inquiry leads to invention. Research inculcates inductive thinking and it promotes development of logical thinking . Several complex business problems can be solved through research It provides the basis for all govt. policies Important for social scientists in studying the social relationships and to seek answers for social problems

Significance of Research
Operational & planning problems of business & industry can be solved with the help of research. For students- A career Professionals- Source of livelihood Literary men & women Development of new styles & creative work. Philosophers Analysts & intellectualsGeneralization of new theories.

Ethics

What are Research Ethics?

Ethics are norms or standards of behavior that guide moral choices about our behavior and our relationships with others The goal is to ensure that no one is harmed or suffers adverse consequences from research activities

Ethical Treatment of Participants

Rights of the participants should be protected. Guidelines to be followed by the Researcher Begin data collection by explaining to the participant the benefits expected from the research Explain to the participants that their rights and well-being will be adequately protected, and say how this will be done Be certain that interviewers obtain the informed consent of the participant

Deception
Deception occurs when the participant is told only part of the truth or when the truth is fully compromised. Two reasons for deception To prevent biasing the participants before the survey or experiment To protect the confidentiality of a third party ( sponsor) The benefits to be gained by deception should be balanced against the risks to the participants.

Issues Related to Protecting Participants

Obtain Informed consent from participants Debriefing- Explanation of deception, Description of hypothesis, goal or purpose of study to participants, post study sharing of results with the participants. Right to Privacy/Confidentiality Guarantee of confidentiality must be given to the participants.

Ethical Issues related to the Client

Sponsor non-disclosure- Some clients wish to undertake research with out revealing themselves. Purpose non-disclosure- Researcher has to protect the purpose of the study. Findings non-disclosure

Right to Quality Research

This right entails
Providing a research design appropriate for the research question. Maximizing the sponsors value for the resources expended. Providing appropriate data handling and reporting techniques for the data collected.

Ethics Related to Sponsor

Sometimes researchers will be asked by sponsors to participate in unethical behavior. To avoid coercion by sponsor the researcher should: Educate sponsor to the purpose of research Explain researchers role Explain how distortion of the truth leads to future problems If necessary, terminate relationship with sponsor

Ethical Issues related to Researchers and Team Members

Safety- it is the responsibility of the researcher to design a project so that the safety of all interviewers , surveyors, observers or experimenters is protected. Ethical behavior of assistantsResearcher expects ethical compliance or behaviour from the assistants. Protection of anonymityResearcher & assistants should protect the confidentiality of the sponsors information & the anomaly of the participants.

Rights of the Respondents

Rights of the respondents
Information collected for the MR should not be misused for any other purpose. Respondents should not be forced to answer a questionnaire. Information should be kept confidential. Respondents should be given the opportunity to think & answer the questions that are of personal nature. It is the responsibility of the market researcher to accurately reflect the respondents replies in his report.

Difference between Research methods & Research Methodology

Research methods refer to techniques that are used for conducting research
Ex: Observation, Questionnaires, interviews, Analysis of historical records, Case studies

Research methodology is a way to systematically solve the research problem.

Research Methodology
It is a way to systematically solve the research problem. It is a science of studying how research is done scientifically ( step by step) Researcher needs to know not only the methods & techniques but also as to how to use relevant method at the appropriate time
Ex researcher in designing a building

Research methodology has many dimensions & methods only constitute a part of the research methodology.

End

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