RESEARCH PROCESS- STEPS IN THE RESEARCH PROCESS
1. Management Dilemma
Research begins with a need or desire to know more, called the
management dilemma.
It may arise from an academic interest or an immediate business
problem requiring a solution.
Example:
A company observes declining sales and is unsure whether the
cause is product quality, pricing, or consumer preference.
Role in decision making:
Helps managers realize that a decision is required and that it must
be supported by research.
2. Defining the Research Problem
This is the most critical step in the research process.
The broad management dilemma is converted into a clear and
specific research problem, specifying exactly what information is
required.
Example:
Deciding whether the company should expand its business by
entering the bottled water market or continue focusing on fruit
juice.
Role in decision making:
Prevents wrong decisions by ensuring the decision is based on the
correct problem.
3. Formulating the Research Hypotheses
Hypotheses are assumptions about expected results of the study.
Not all research starts with hypotheses, but research often leads
to their formulation.
Example:
Young consumers consume more pizzas than older consumers.
Role in decision making:
Helps managers test assumptions before taking action.
4. Developing the Research Proposal
A research proposal is a plan of investigation prepared before
starting the actual study.
It includes objectives, scope, and methodology.
Example:
The proposal may include plans to survey consumers, analyze
market demand, and study competitor products.
Role in decision making:
Ensures decisions are based on planned and systematic research.
5. Research Design Formulation
Research design explains how the research problem will be
investigated.
Designs may be exploratory, descriptive, or causal.
Example:
A descriptive design may be used to study consumer preferences
regarding bottled water and fruit juice.
Role in decision making:
Improves the accuracy and reliability of decisions.
6. Sampling Design
Since studying the entire population is not possible, a sample is
selected.
The sample must be representative of the population.
Example:
Selecting 500 consumers from different age groups instead of the
whole market.
Role in decision making:
Helps make decisions based on representative data while saving
time and cost.
7. Planning and Collecting Data
Data collection is carried out along with the sampling plan.
Data may be primary or secondary.
Example:
Primary data: Interviews and questionnaires
Secondary data: Company records and market reports
Role in decision making:
Provides factual information for evaluating alternatives.
8. Data Refining and Preparation
Collected data is edited, coded, and tabulated to remove errors
and inconsistencies.
Example:
Removing incomplete questionnaires and coding responses for
analysis.
Role in decision making:
Ensures decisions are based on reliable and valid data.
9. Data Analysis and Interpretation
Statistical tools like percentages, mean, t-test, and chi-square are
used.
Results are linked with research objectives.
Example:
Finding that most respondents prefer bottled water over fruit
juice.
Role in decision making:
Converts data into meaningful insights.
10. Research Report and Final Decision
The research report presents findings, conclusions, and
implications for decision making.
Example:
Recommending the launch of bottled water based on research
results.
Role in decision making:
Helps managers take objective, informed, and effective decisions.
Conclusion
Research supports decision making at every stage by reducing
uncertainty, improving accuracy, and providing a scientific basis for
action. Each stage of the research process contributes to transforming a
management dilemma into a well-informed managerial decision.
FLOWCHART REPRESENTING RESEARCH PROCESS