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Introduction to Research Methodology

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0% found this document useful (0 votes)
12 views18 pages

Introduction to Research Methodology

Uploaded by

lucy
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Module 1

Research Methodology

INTRODUCTION TO RESEARCH
• Research is an art of scientific investigation.
• Research is systematized efforts to gain new
knowledge.
• Management Research is an unbiased, structure
and sequential method of enquiry, directed towards
a clear implicit or explicit business objective. This
enquiry might lead to validating the existing
postulates or arriving at new theories and models.
What is Research?
➢ A careful investigation for new facts in any
branch of knowledge
➢ Redman and Mory: Research is a systematic
effort to gain new knowledge
What is Research?
 Business research method is a systematic and
scientific procedure of data collection,
compilation, analysis, interpretation, and
implication pertaining to any business problem.
 Business research is defined as the systematic
and objective process of gathering, recording,
and analyzing data for aid in making business
decisions (Zikmund, 2007).
 Cooper and Schindler (2009) define business
research as a systematic enquiry that provides
information to guide managerial decisions.
Why do research?
➢ Desire to get a research degree along with its
consequential benefits
➢ Desire to face the challenge 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
➢ Directives of government, employment
conditions etc.

Choose a subject
• Based on an idea
• Based on your experience
• Based on your reading
• Originality
The important features of a research design
➢ A plan
• Specify the sources & types of information
relevant to the research problem
➢ A strategy
• Which approach will be used for gathering and
analyzing the data
➢ The time and budgets
• Most studies are done under these two
constraints
CHARACTERISTICS OF RESEARCH
➢ Systematic- All steps must be inter related- one
to another
➢ Logical- Agreeing with the principles of logic
➢ Empirical-Conclusions should be based on
evidences/observations
➢ Objectivity- It must answer the research
questions
➢ Replicable- reproducible
➢ Transmittable
➢ Quality control- Accurate measurements
➢ All well designed and conducted research has
potential application

Define Your objectives


• Try to keep these simple
• The more variables the more difficult
• Use the opportunity
• Get help at this stage
Senior colleagues
Experienced researchers
Types of research
From the Viewpoint of Application
Research can be classified based on its application
or purpose. Pure research is conducted for the sake
of knowledge while applied research is conducted
to solve a specific problem or answer a practical
question
1. Pure Research
 Sake of Knowledge
Pure research is conducted for the sake of
knowledge and not for any particular application. It
seeks to expand our understanding of various topics
and phenomena.
 Exploratory in Nature
Pure research is often exploratory in nature and
seeks to discover new information and insights
about a particular topic. It aims to fill the gaps in
our understanding.
 Examples of Pure Research
Examples of pure research include studies on the
origins of the universe, the structure of the human
brain.

2. Applied Research
 Definition of Applied Research
Applied research is a type of research that is
conducted to solve a specific problem or answer a
practical question.
 Fields of Applied Research
Applied research is often used in engineering,
medicine, and business to solve real-world
problems and create new products or services.
 Examples of Applied Research
Examples of applied research include studies on the
effectiveness of a new drug, the impact of a new marketing
strategy, or the development of a new technology.
Types of Research from the Viewpoint of Objective
1. Descriptive Research
Descriptive research seeks to describe a
particular phenomenon or population with the
aim of providing a detailed picture of the
subject under investigation.
 Definition of Descriptive Research
Descriptive research is a type of research that aims
to describe a particular phenomenon or population.
It is often used in fields such as sociology or
psychology to capture information about a specific
group of people or behavior.
 Surveys in Descriptive Research
Surveys are a common method of descriptive
research used to capture information about a
particular population. They often involve asking
questions to a group of people to gather data on
their opinions, attitudes, or behaviors.
 Observational Studies in Descriptive Research
Observational studies are another type of
descriptive research used to capture information
about a particular behavior or group of people.
They involve observing people in their natural
environment and recording their behaviors or
interactions.

2. Exploratory Research
Exploratory research seeks to get a better
understanding of a particular topic by gathering
information and insights that can be used to
develop hypotheses for further investigation.
 Purpose of Exploratory Research
Exploratory research is used to gain insights and a
better understanding of a particular topic. It is often
used in cases where little is known about the
subject, and the goal is to generate ideas or
hypotheses
 Methods of Conducting Exploratory Research
Focus groups, case studies, and interviews are some
of the methods used to conduct exploratory
research. The goal is to identify patterns or themes
in a particular population or behavior.

3. Correlational Research
Correlational research is conducted to
determine if there is a relationship between
two variables, with the aim of identifying any
patterns or correlations that may exist.
 Definition of Correlational Research
Correlational research is used to determine if there
is a relationship between two variables. This type of
research is often used in fields such as medicine or
education.

 
 Examples of Correlational Research
Examples of Correlational research include studies
that aim to determine if there is a relationship
between smoking and lung cancer or between class
size and academic achievement.

4. Explanatory Research
Explanatory research seeks to determine the
cause-and-effect relationship between two
variables, with the aim of providing a deeper
understanding of the subject under
investigation.
Explanatory research aims to determine the
cause-and-effect relationship between two
variables. It is often used to test hypotheses or
theories that seek to establish a causal
relationship between two variables.
Types of Research from the Viewpoint of Enquiry
Mode
1. Qualitative Research
 Qualitative research is an exploratory research
method aimed at gaining an in- depth
understanding of a particular phenomenon or
population. It uses non- numerical data such as
interviews, observations, and case studies.
In-depth Understanding
- Qualitative research seeks to gain an in-
depth understanding of a particular
phenomenon or population. It involves
exploring and interpreting subjective
experiences and meanings.
Research Fields
- Qualitative research is often used in fields
such as anthropology, sociology, or
psychology to explore complex social
phenomena and human behavior.
Qualitative Research Methods
- Qualitative research methods include
interviews, focus groups, and
ethnographic studies, among others.
These methods provide rich, detailed data
that can help researchers develop a
deeper understanding of the research
subject.

2. Quantitative Research
 Quantitative research is a research method that
aims to measure and analyze data using
statistical methods. It uses numerical data such
as surveys and experiments.
Statistical Methods
- Quantitative research relies on statistical
methods to measure and analyze data.
This helps researchers draw conclusions
and make decisions based on numerical
evidence.
Fields of Application
- Quantitative research is used in many
fields, including economics, business,
engineering, and social sciences. It allows
researchers to collect and analyze large
amounts of numerical data to draw
conclusions and make predictions.
Examples of Quantitative Research
- Examples of quantitative research include
experiments or surveys that aim to collect
and analyze numerical data. This data can
be used to test hypotheses, measure
relationships, or make predictions.
3. Mixed Methods Research
 Mixed methods research combines both
quantitative and qualitative approaches to gain
a more complete understanding of a particular
topic. It uses both numerical and non-numerical
data in its research design.
Combining Quantitative and Qualitative
Approaches
- Mixed methods research combines both
quantitative and qualitative approaches
to gain a more complete understanding of
a particular topic, leveraging the
strengths of each approach to provide a
more comprehensive view of the issue.
Increasing Validity and Reliability
- Combining quantitative and qualitative
approaches in mixed methods research
can increase the validity and reliability of
the study, providing a more robust and
comprehensive analysis of the issue.
Criteria of a good research /What is a good
research?
• Purpose clearly defined
• Research process detailed
• Research design thoroughly planned
• High ethical standards applied
• Limitations frankly revealed
• Analysis adequate for decision makers need
• Findings presented unambiguously
In other words, Good research should be
systematic, logical(inductive & deductive
reasoning), empirical(related to real life
situations), replicable.
Research applications in finance
Auditing and accountability
Market-based accounting research
financial forecasting
Research based on stock markets
Researches on bank and their liquidity
positions
Researches on capital structure
Research applications in human resources
➢Training & development studies
➢Selection and staffing studies
➢Performance appraisal– design and
evaluation
➢Organization planning and development
➢Incentive and benefits studies
Research applications in marketing
 Market & consumer analysis
 Product research
 Pricing research
 Promotional research
 Place research

Common questions

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A mixed methods research approach is adopted to leverage the strengths of both qualitative and quantitative research, providing a more comprehensive understanding of the research topic . Qualitative methods offer deep insights into the context and meanings of complex social phenomena through non-numerical data like interviews and case studies . Meanwhile, quantitative methods allow for statistical measurement and analysis, offering numerical evidence that can generalize findings to larger populations . Combining these approaches increases the validity and reliability of findings by using qualitative data to explain and give context to quantitative results, offering a more robust and holistic view of the research problem .

Exploratory research is crucial in the initial stages of investigating a relatively unknown topic because it helps gather preliminary information that provides insight into the issue under study . This research type is aimed at generating ideas and hypotheses by exploring uncharted areas, often through focus groups, case studies, and interviews, to identify patterns or themes . By doing so, exploratory research sets the groundwork for more structured studies, such as descriptive or explanatory research, by identifying the key variables or phenomena worth further investigation . It is particularly valuable when researchers have little background knowledge on the topic, thus serving as a guide for subsequent research efforts.

Research plays a crucial role in addressing unsolved problems and advancing knowledge in scientific fields by systematically investigating questions and verifying existing models and theories . It involves rigorously collecting and analyzing data, leading to new discoveries and refinements of scientific understanding. By examining unresolved issues, research challenges the status quo and pushes the boundaries of current knowledge, often resulting in breakthroughs that inform the development of new theories and applications across various disciplines . The exploratory nature of research aims to fill gaps in our comprehension and solve complex, real-world problems by both validating and refuting existing concepts, hence driving scientific and technological progress .

Replicating research studies can face several challenges, such as variations in context, participant variables, and methodological inconsistencies that affect the reliability and validity of results . Differences in cultural and environmental settings can lead to different outcomes under seemingly identical conditions. Additionally, insufficient detail in reporting the original study's methods may lead to discrepancies in execution, hindering successful replication. To mitigate these challenges, researchers can adopt standardized methodologies and ensure detailed documentation of all research processes, including clear definitions of variables and conditions . Encouraging open data practices and peer collaboration can also enhance reproducibility by providing insights into potential areas of variation . Finally, focusing on robust study designs with high ethical standards strengthens the reliability of both original and replicated research efforts .

Pure research is conducted primarily for the sake of knowledge and understanding without a direct application in mind, seeking to fill gaps in our understanding of various phenomena, such as the origins of the universe or the structure of the human brain . In contrast, applied research is performed to solve specific, practical problems and is often used in fields like engineering, medicine, and business. This type of research might focus on finding the effectiveness of a new drug or the impact of a marketing strategy . Thus, pure research expands our theoretical understanding, while applied research aims to address real-world issues.

Descriptive research aims to provide a detailed picture of a phenomenon or population by capturing information about a specific group or behavior, often using surveys or observational studies to gather data . Its primary goal is to describe the subject accurately without delving into causal relationships. On the other hand, correlational research seeks to identify whether there is a relationship between two variables, often employing statistical methods to determine the nature and strength of this relationship . While descriptive research focuses on 'what' is happening, correlational research is concerned with 'how' and 'to what extent' two variables are related, preparing the ground for potentially explanatory research that can explore causation .

Good research is characterized by a clearly defined purpose, a detailed research process, and thoroughly planned design . It adheres to high ethical standards, ensuring that data is collected and reported honestly and transparently. Limitations of the study must be frankly revealed, allowing stakeholders to interpret the results within the correct context. Additionally, it provides adequate analysis for decision-makers' needs, presenting findings unambiguously to facilitate informed decision-making . Overall, good research is systematic, logical, empirical, and replicable, contributing to its reliability and utility .

Business research facilitates informed managerial decision-making by providing systematic and objective data that equips managers with the necessary information to make strategic business choices . It involves gathering, recording, and analyzing data related to business problems, helping to validate hypotheses or suggest new models and strategies . Through techniques such as market analysis, customer behavior studies, and financial forecasting, business research transforms raw data into actionable insights that highlight market trends, operation efficiencies, or consumer preferences, all of which are critical for strategic planning and decision-making . This structured approach reduces uncertainty and risks associated with business decisions, ultimately optimizing organizational outcomes .

The systematic nature of research ensures that it follows an organized and logical sequence, enabling the interrelation of all steps from data collection to analysis, thus maintaining consistency and reliability in findings. Objectivity is achieved by focusing on unbiased data collection and interpretation, helping to address specific business problems accurately . For instance, business research provides information to guide managerial decisions meticulously, which can only be achieved through a structured approach that eliminates bias and subjective influences, ensuring that solutions derived are based on empirical evidence . By being systematic and objective, research outputs can be replicated and transmitted effectively, further enhancing their credibility for business use .

Research in human resources can significantly enhance organizational effectiveness and employee performance by analyzing and optimizing various HR functions. For instance, studies on training and development can result in more effective learning programs that boost employee skills and competencies . Performance appraisal research can lead to better evaluation systems that accurately reflect employee contributions and identify areas for improvement, thus motivating performance upgrades . Additionally, research on incentive and benefits structures can help design packages that attract and retain talent while incentivizing high levels of productivity and commitment . By systematically investigating these areas, HR research aligns employee goals with organizational objectives, improving overall efficiency and effectiveness.

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