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WHAT IS RESEARCH ?
Research is a process, which consists upon:
Problem identification Searching of factors involved in problem Determination of relationship among the factors
Solution of the problem In simple words we can say that research is an organized inquiry that is carried out to provide information for solution of the problem. Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.
BUSINESS RESEARCH
Business research is an organized systematic, data based, critical scientific investigation into a specific problem faced by the todays business with the purpose of finding answers and solutions to it.
OR
The research that provides information to the mangers to solve the specific problems is called business research .
CHARACTERISTICS OF BUSINESS RESEARCH There must be no deficiency. It must be logical based. Analyze the intensity through data collection. Focus on all aspect and do not avoid any point for critical analysis and there must be logic behind the story positive and negative aspects should be considered. There must be particular objective or purpose
Research studies regarding to employees attitude and behavior Management strategy Information system Human resource management Impact of demographic changes on management practices
Packing
New product development
Consumer preferences
Market pricing and others
Applied Research
Research, which is concerned to solve the current problems faced by the managers in work setting, demanding a timely solution, is called applied research. Example:
A particular product may not be selling well and the manager might want to find the reason for this in order to take a corrective action. So research conducted by him will be called applied research.
comprehend how certain problems that occur in organizations can be solved. It is also known as pure research. The finding of such research contributes to the building of knowledge in the various functional areas of business. Such knowledge generated is usually later applied in organizations for problem solving.
Example:
A university professor may be interested in investigating the factors that contributes to employees absenteeism at work place. After gathering information on this topic from different institutions and analyzing the data the professor identify the factors which primarily influence absenteeism and later on, on the basis of this report managers use this information to solve their problem of employee absenteeism
Basic
Basic knowledge.
Applied
Apply to areas of interest Constrained to demands Research is quick may not meet high standards. Success results are used by managers/sponsors. Conducted when a decision must be made about a specific real-life problem
Freedom. Take more time . Success results published, impact on other scientists. Not directly involved in the solution to a pragmatic problem.
Take calculated risks in decision making, knowing full well the probabilities associated with the different possible outcomes Prevent possible vested interests from exercising their influence in a situation. Relate to hired researchers and consultants more effectively. Combine experience with scientific knowledge while making decisions.
Internal Researchers:
Some large organizations have their own research and development department (R & D dept), where their own researcher work. They conduct applied and pure research in their own organizations. Medium size organization may not have big R & D departments instead having one or two researcher. But small organization cannot afford the cost of internal researchers.
Advantages
Easy acceptability by the employees while conducting a research. Less time is required to understand the culture and structure. Availability to check the implemented recommendations Cost effective
Disadvantages
They might be stereotyped having no fresh ideas. Their own people will not perceive them as experts. Their results about a problem may be biased
External Researcher
Well-established research firms are available now a day to conduct research. These firm have experiences and qualified specialist researchers to conduct research. Companies will hire the out side researcher to solve their most complicated problems.
Advantages
They have plenty of experience of research work with different organizations Their research will be unbiased Their solutions will more credible
Disadvantages
Take more time
Not aware about the norms and culture of the company The cost of external researchers will be very high
Manager should make sure while hiring researchers or consultants that : Roles and expectations of both parties are clear. Org. Values and constraints are stated. Good relations are buildup among researchers, management and employees.
HOW TO LOCATE AND SELECT A RESEARCHER Many research firms are available who provide their services. Business Colleges Internet Yellow Pages Magazines Business segments of news papers
Availability of Data
Is the information already on hand inadequate for making the decision?
No Yes
No
No
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Reference studies