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Business Research Methods
Meaning of Research
- It is a common phenomenon which is referred to a search for knowledge.
- One can define research as a scientific and systematic investigation.
- Another meaning of research is “a careful investigation or inquiry especially through search for a new fact in any branch of knowledge”.
- It is an academic activity and it comprises defining and redefining problem. Definition Simply research is defined as an organised, systematic, data-based, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it. According to Clifford Woody, research comprises defining and redefining problem, formulating hypothesis or suggested solutions, collecting, organising and evaluating data, making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.” Objectives
- To achieve new insights into it (Studies with this object in view are termed as Exploratory or Formulative research studies).
- To portray accurately the characteristics of a particular individual, situation or a group (Descriptive research)
- To determine the frequency with which something occurs or with which it is associated with something else (Diagnostic research).
- To test hypothesis of a casual relationship between variables (Hypothesis- testing studies).
Motivation in Research
Types of Research
1). Descriptive Vs Analytical
Descriptive Research: It includes surveys and facts, finding enquiries of different kinds. The main purpose is description of the state of affairs as it exists at present. Eg.: In social science and business research we quite often use the term “Ex post facto research” for descriptive research studies.
- The main character of this method is that researcher has no control over the variables. He can only report what has happened or what is happening.
- Most Ex post facto research projects are used for descriptive studies in which the researcher seeks to measure such items like frequency of shopping, preferences of people, etc. Researcher also tries to discover causes even when they cannot control the variables. Analytical Research: The researcher has to use facts or information already available and analyse these to make critical evaluations of material.
2). Applied Vs Fundamental
Applied – action; Fundamental – basic or pure. Applied Research – Finding a solution for an immediate problem facing a society or an industry / business organization. Eg.- research aimed at certain conclusions. Facing a concrete social or business problem is an example of applied research. Identifying social, economical or political trends that may particular institution are copy research or marketing or evaluation research Fundamental Research – It is mainly concerned with generalisation and with the formulation of theory. Eg- Gathering knowledge for knowledge’s sake. It is a research concerning some natural phenomenon or relating to pure mathematics. Also it is concerning human behaviour carried on with a view to make generalisation of human behaviour. Thus the central aim of applied research is to discover a solution for some practical problem, where as fundamental research is finding information that has a broad base of applications and thus, adds to the already existing body of scientific knowledge.
3). Quantitative Vs Qualitative
Quantitative research – Based on measurement of quantity or amount, that can be expressed in terms of quantity. Qualitative research – Relating to qualitative phenomena involving quality or kind. Eg.- why people think or do certain things. When we talk of “motivation research”, this research aims at discovering the underlying motives and desires, using in depth interviews for that purpose. Other techniques of such research are word association, sentence completion test, story completion, attitude or opinion research.
4). Conceptual Vs Empirical
Conceptual – related ideas or theories used by philosophers and thinkers to develop new concepts or to reinterpret existing ones. Empirical – Experience or observation alone, without due regard for systems and theory. It is data based research coming up with conclusions which are capable of verification by observations and experiment.
5). Some other type of research:-
a. For students of masters or Ph.D - it is a careerism to attain a high position in the social structure. b. For professionals – it is a source of livelihood. c. For philosophers and thinkers – it is an outlet for new ideas and insights. d. For literary men and women – it helps in development of new styles and creative work. e. For analysts and intellectuals – helps in generalisation of new theories. Research Methods Vs Methodology
Types
1. Library Research:-
Methods Techniques i. Analysis of historical records Recording of notes, content analysis, tape and film listening and analysis. ii. Analysis of documents References, statistics, content analysis, abstract.
2. Field Research:-
Methods Techniques i. Non participation direct observation. Observation behavioural scales, use of score cards. ii. Participant observation Tape recorders, photographic tech. iii. Mail questionnaire Identification of social and economic background of respondents. iv. Mass Observation Recording mass behaviour, interview. v. Opinionnaire Attitude scale, projective tech. vi. Personal interview Open and closed questions. vii. Focus interview Focus on given experience viii. Group interview Small groups of respondents are Interviewed simultaneously. ix. Telephone survey Survey technique for information x. Case study and Life history Cross sectional collection of data for
Intensive analysis
3. Laboratory Research
Methods Techniques Small group study of random behaviour, Use of audio visual recording Play and role analysis devices, use of observers, etc.
Research and Scientific Method
Both the methods are based on certain basic postulates which can be stated as under:
- It relies on empirical evidence
- It utilizes relevant concepts
- It is committed to only objective considerations
- It presupposes ethical neutrality i.e., it aims at nothing but making only adequate and correct statements about population objectives.
- It results into probabilistic predictions.
- Its methodology is made known to all concerned for critical scrutiny for use in testing the conclusions through replication
- It aims at formulating most general axioms or what can be termed as scientific theories.
Importance of knowing how research is done
i. It provides good training. ii. It will inculcate the ability to evaluate and use research results with reasonable confidence. iii. It enables us to make intelligent decisions concerning problems facing us in practical life at different points of time. iv. It helps consumers to evaluate and enables to take rational decisions
Research Process
It consists of series of actions or steps necessary to effectively carryout research and the desired sequencing of these steps:
- understanding the problem thoroughly and
- rephrasing the same into meaningful terms
- Best way of understanding is discussing with colleagues and some experts. Guide is also one of the source
- Get all literature regarding problem – 2 types of literature a) Conceptual – concepts and theory b) Empirical - similar studies made earlier
- After re-phrasing in an analytical and operational way put the problem in scientific terms as possible
- Defining, formulating a research problem is a step of greatest importance in the entire research process
- According to Professor W.A.Neiswanger – statement of the objective is important because it determines the data which are to be collected, characteristics of data which are relevant, choice of technique etc.
Step 2 Extensive literature survey
- Writing down brief summary, writing synopsis, undertake extensive literature survey connected with problem
- Academic journals, conference proceedings, Govt. Reports, Books must be tapped
- A good library will be a great help to the researcher at this stage
Step 3 Development of working hypothesis
It should clearly state the terms of working hypothesis Working hypothesis is tentative assumption made in order to draw out and test its logical or empirical consequences. It guides the researcher to go in a right track. It also indicates types of data required and types of methods of data analysis to be used Hypothesis provide the focal point of view and also talks about how test should be conducted and quality of data
Ways to develop hypothesis:
- Discussion of problem, origin and objectives with colleagues and experts
- Examination of data, records, possible trends
- Review of similar studies
- Exploratory personal investigation with interested parties and great insight in practical aspects.
Step 4 preparing the research design
Good design – maximum information and relevant evidence 4 categories a) Exploratory b) Description c) Diagnosis d) Experimentation Considerations for preparing research design:
- Means to obtain information
- Availability and skills of researcher
- Time availability
- Cost factor and finance available
Step 5 determining the sample design
Population or universe – complete items available Census inquiry – whole population Sample – items selected for test Census in inquiry is not possible under many circumstances eg. Blood testing done through only sampling Sample design- decide the way of testing a sample Two types a) Probability – each element can be included in sample b) Non- probability – elements do not have equal chance A brief mention to the sampling i) Deliberate sampling ii) Simple random sampling iii) Systematic sampling iv) Stratified sampling v) Quota sampling
a) The preliminary pages – title, acknowledgement, table of contents b) Main text – introduction, summary of findings, main report and conclusion c) The end matter – Appendices, bibliography (list of books, journals, reports etc.), index ii) Should be concise and objective style, in simple language. Avoid vague expressions such as “it seems”, “there may be” & the like iii) Chart should be used only if they have clear information iv) Confidence limits and constraints should be stated Criteria for a good research
- Purpose of research should be clearly defined.
- Procedure should be in detail description
- Procedural design should be carefully planned
- Researcher frankness
- Conclusion should be to those justified by data
- Greater confidence
- Should be systematic and logical Problems encountered by research in India i) Lack of scientific training in the methodology of research ii) There is insufficient interaction between the university research departments iii) Most of business units do not rely on research iv) Research studies overlapping one another are undertaken quite often for want of adequate information v) There does not exist a code of conduct for research vi) Difficulty of adequate and timely secretarial assistance vii) Library Management and functioning is not satisfactory viii) Difficulty in assessing copies of old and new Act/Rules, reports and other govt. Publications in time ix) Problem of conceptualisation Defining a research Problem
Synopsis
- What is research problem
- Problem definition
- Examples of well – defined problem
- Selecting the problem
- Necessity of defining
- Techniques involved in defining a problem
What is Research Problem?
It refers to some difficulty which a researcher experiences in the context of either theoretical or practical situation and want to obtain solution for the same. Conditions to be satisfied:
- Problem should be attributed from individual, organisation or environment
- Must be atleast 2 courses of action. C 1 and C 2 should be defined from 1 or 2 controlled variables.
- At least 2 possible outcomes O 1 and O 2
Problem Definition:
It is aclear, precise and succinct statement of the question or issue that is to be invested with the goal of finding an answer or solution. Examples of well defined problems: How has the new packaging affected the sales of the product? Has the new advertising message resulted in enhanced re-calls? How do price and quality rate on consumer’s evaluation of products? Does better automation lead to greater asset investment per dollar of output? What are the components of “quality of life”?
Selecting the Problem
Subject for research:
- Subject which is overdone shall not be normally chosen, for it will be a difficult task to throw any new light in such a case.
- Controversial subject should not become the choice of an average researcher.
- Avoid too vague problem
- Familiar and feasible
b) Observation design: conditions of observations. c) Statistical design: how items observed, information & data gathered are to be gathered. d) Operational design: techniques by which the procedure… Important features of research design:
- Sources & types of information relevant to the research problem.
- Approach for gathering & analyzing the data.
- Time & cost budget. It should contain:
- A clear statement of the research problem.
- Procedures & techniques for gathering information.
- Population.
- Methods – processing & analyzing the data. Need for research design:
- It facilitates the smooth sailing of the various research operations. Features of a good research:
- Flexible, appropriate, efficient, economical.
- Which minimizes the bias & maximizes the reliability of the data collected & analyzed is considered as a good design. Following factors should be considered:
- Means of obtaining information
- Availability & skills of researchers
- Objectives of the problem
- Problem nature
- Money & time availability Important concepts:
- Dependent & independent variable : variable – a concept which can take a different quantitative values. Ex: weight, height, income.
Continuous variable – age Non continuous variable – children Dependent variable – height depends on age. Independent variable – age
- Extraneous variable : Variables that are not related to the purpose of the study, but may affect dependent variable. Ex : intelligence affect social studies,
- Control: Minimize the influence or effect of extraneous variable(s).
- Confounded relationship : Inseparable relationship between dependent & extraneous variable. 5. Research hypothesis: It is a predictive statement that relates an independent and dependent variable. 6. Experiment & non – experiment hypothesis: Hypothesis testing research. Research in which independent variable is not manipulated – non – experimental. Experimental – manipulating independent variable. 7. Experimental & control group: Control group - group is exposed to usal. ex : without treatment conditions. Experimental group – group is exposed to some special conditions. 8. Treatments: Experimental & control groups used in different conditions. Ex – offers, coupons, discounts 9. Experiment: Purpose of examining the truth.
- Variations caused by extraneous factors can all be combined under the general headings of “chance”. Ex – we can grow rice two different yields to check fertility. iii. The principle of local control: the variability it causes can be & hence eliminated from the experimental error. Important experimental designs Informal design formal design Informal experimental designs: i. Before and after without control designs – treatment introduced measuring the dependent variable is measured before and after the treatment. Ex – sales ii. After only with control designs – two groups or areas (test area and control area) are selected & treatment is introduced the dependent variable is measured on both the areas with & with treatment is measured. iii. Before and after with control designs - select two areas & dependent variable is measured for a time period. Then introduce treatment. Dependent variable is measured in both tested & control area. Formal experimental designs: i. Completely randomized design – 2 principles are a) Replication b) Randomization. One way anova(one way analysis of variance). Two – group simple random design – randomly assigned to the experimental & control groups. Random replication design – random replication. ii. Randomized block design(R.B. design) – principle of local control(two way anova). iii. Latin square design - five fertilizers & five treatments. iv. Factorial design – effects of varying more than one factor are to be determined.
SAMPLING DESIGN Census & sample survey: Population – all items in any field(universe) A complete enumeration of all items in the population is “census inquiry” Implication of a sample design: Def: It is a definite plan for obtaining a sample from a given population. It refers technique or the procedure the researcher would adopt in selecting items for the sample. It also lay down the number of items to be included in the sample(sample sizes) Steps: i. Types of universe: clearly defines the objective universe to studies. Universe can be finite or infinite. ii. Sampling unit: selecting geographical are such as state, district, village, flat, social unit – family, club, school, etc. iii. Source list: from which sample is to be drawn. It contains name of all items of a universe. It should be correct, reliable & appropriate. iv. Size of sample: no of items to be selected. Large or small & should be optimum. Confidence level should be kept in mind. v. Parameters of interest: interest of sub – groups, characteristics of population. vi. Budgeting constraints vii. Sampling procedure: technique should be used in selecting items.
