CHAPTER-1

INTRODUCTION
TO
RESEARCH METHODOLOGY
 What is research?

Management/Business research is an
unbiased, structured, and sequential method
of enquiry, directed towards a clear implicit or
explicit business objective. This enquiry might
lead to validating existing postulates or
arriving at new theories and models.
Types of research
 Types of research

Basic research : the basic premise is the need

to KNOW and the concern is primarily academic
in nature.

Applied research: Solution or action oriented

research, that is contextual and practical in
approach.
 Types of research

Exploratory research is loosely structured and the

basic premise is to provide direction to subsequent,
more structured method of enquiry.

Conclusive research is structured and definite in

orientation. These studies are usually conducted to
validate formulated hypotheses and specified
relationships.
Exploratory vs Conclusive Research
 Conclusive research

Descriptive research: The main goal of this type

of research is to describe the data and
characteristics about what is being studied.

Causal research: Explores the effect of one or

more variables on other variable(s), with
reasonable level of certainty by controlling the
impact of other influencing variables.
The research process
 The research process
The management decision problem

Defining the research problem

Formulation of the working hypotheses

Construction of the research proposal

 The research process

Formulating the research design

Sampling considerations

Collecting the data for the study

Data analysis and interpretation of findings

Research applications in marketing
Market & consumer analysis

Product research

Pricing research

Promotional research

Place research
 Research applications in finance
Asset pricing, capital markets and corporate finance

Financial derivatives and credit risk modeling research

Market-based accounting research

Auditing and accountability

Other areas: financial forecasting, behavioural finance,

volatility analysis
 Research applications in
human resources
Training & development studies

Selection and staffing studies

Performance appraisaldesign and evaluation

Organization planning and development

Incentive and benefits studies

Emerging areascritical factor analysis, employer

branding studies
 Research applications in
production & operations management
Operation planning and design

Demand forecasting and demand estimation

Process planning

Project management and maintenance effectiveness

studies
Logistics and supply chain-design and evaluation

Quality estimations and assurance studies

 Criteria for research
MUST have: a clearly stated research purpose/ objective

MUST have: a sequential plan of execution

MUST have: a logical and explicitly stated justification for

the selected methods

MUST have: an unbiased and neutral method of conduct

and reporting
MUST have: complete transparency and ethical conduction

of the research process

MUST have: provision for being reliable & replicable