Introduction to Research

FMG 3232

Research Methodology

A system of models, procedures and techniques. This is the way Guiding the researcher Describing the various methods

Definition of Research

Search for the knowledge Advanced learners dictionary- careful investigation specially through search for new facts in any branch of knowledge Redman and Morry systematized effort to gain new knowledge

Definition of Research (Cont)

Movement from the known to unknown

Cliford Woody defining problem, formulating hypothesis, collecting, organizing and evaluating data and reaching conclusion

Motivation of Research

Desire to get a research degree along with its consequential benefits; Desire to face the challenges in solving the unsolved problems Desire to get intellectual joy of doing some creative work; Desire to be of service to society; Desire to get respectability.

Aims of research
The general aims of research are: Observe and Describe Predict Determination of the Causes Explain

Objectives of Research

To gain familiarity with a phenomenon To portray accurately the characteristics. To determine the frequency To test the hypothesis of a casual relationship.

Significance of Research

Managers and administrators Researchers and Academics Government agencies Consultants Students

Characteristics of research

Purpose clearly defined Research process detailed Research design thoroughly planned Limitations frankly revealed High ethical standards applied The analysis of data should be sufficiently Findings presented unambiquously Conclusion should be confined

Qualities of good research

Systematic Logical Empirical replicable

Types of research
1. Basic research: Discovering the new knowledge Benefits Society 2. Applied research: Solving the particular problem Benefits Affected groups

Deduction

Deduction is reasoning from the general to the specific. Deduction is important in scientific research. Theory Practice

Induction

Begin from the specific and moves towards the general Practice Theory There is no logical proof of induction: future cases may be different from those you have seen

Problems of Research

Uncontrollable variables Human tendencies Time and money Lack of computerization Insufficient interaction between university research departments and business establishments Lack of confidence on the part of business units to give information

Significance /Relevance for management

Why should managers study research Methodology? Business research is a systematic enquiry that provides information to guide managerial decisions. It is a process of planning, acquiring, analysing and disseminating relevant data and insights to decision makers, leading to appropriate actions, which, in turn, maximise business performance.
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Significance /Relevance for management

Significant in solving various operational and planning problems of business and industry Market research (investigation of the structure and development of market) Important for formulating policies for purchase, production and sales
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Significance /Relevance for management

Motivational research studies consumers motives in their purchase behavior (Consumer behavior) Operations research refers to the application of mathematical, logical and analytical techniques to the solution of business problems of optimization of resource use, cost minimization and profit maximization.
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Significance /Relevance for management

Managers need research to measure and compare the ROI on various strategies.

Helps in a better understanding employees, stockholders and customers

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The Scientific Method

1. 2. 3. 4. 5. 6. 7. Develop the problem Develop a theoretical solution to the problem Formulate the hypothesis or question Formulate the research plan (methods) Collect and analyze the data Interpret the results and form conclusions Refine the theory