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BRM For MBA
BRM For MBA
Nature and Scope of business research- Research process- Defining the research
Problem and setting the objectives- Preparing research proposal-Review of literature.
What is Research?
The task of research is to generate accurate information for use in decision making.
The emphasis of research is on shifting decision makers from intuitive information gathering
to systematic and objective investigation. Research is defined as the systematic and objective
process of gathering, recording and analyzing data for aid in making decisions.
Why is Research needed / Important / Necessary?
Research facilitates effective management. At many companies research drives every
aspect of major decision making. For example, at ford motor company, research is to
fundamental that management makes hardly any significant decision without the benefit of
some kind of research.
Characteristics of Research
1. Research begins with a problem in the form of a question in the mind of the
researcher.
2. Research demands the identification of a problem, stated in clear, unambiguous terms.
3. Research requires a plan.
4. Research deals with the main problem through appropriate sub-problems.
5. Research seeks direction through appropriate hypotheses and is based upon obvious
assumptions.
6. Research deals with facts and their meaning.
7. Research is circular.
When Research is Needed?
A manager faced with two or more possible courses of action faces the initial decision
of whether or not research should be conducted. The determination of the need for research
centers on –
Time constraints-
Conducting research systematically takes time. In many instances management
concludes that, because a decision must be made immediately, there will be no time for
Research.
Availability of data -
Often managers already possess enough information to make sound decisions with
business research. When they lack adequate information, however, research must be
considered. Managers must ask themselves if the research will provide the information
needed to answer the basic questions about a decision. Furthermore, if a potential source of
data exists, managers will want to know how much it will cost to obtain the data.
Types of Business Research
: The two main types are Basic and Applied research.
Basic Research -
The basic research is fundamental research driven by a scientist's curiosity. The main
motivation behind it is to expand his knowledge, not to invent something.
Applied research
- Applied research on the other hand is designed to solve practical problems, rather than to
gain knowledge. Applied research sets out to prove a specific hypothesis of value to the
clients paying for the research. For example, a cigarette company might commission research
that attempts to show that cigarettes are good for one's health. Many researchers have ethical
misgivings about doing applied research.
Descriptive Vs Analytical
Applied (Basic) Vs Fundamental (Applied)
Quantitative Vs Qualitative
Conceptual Vs Empirical
Special types of research
Other Types of Research -
Based on the purposes for which the researches are conducted, they may be divided into
following categories:
1. Baseline/Bench-mark survey/Research.
2. Evaluation Research:
a) Formative Evaluation (Mid-term)
b) Terminal Evaluation.
3. Impact assessment/research
4. Feasibility studies.
Baseline Survey-
A baseline survey is a research in which data on pre-project socio-economic and business
aspects are generated in order to facilitate the assessment of future impact of project
intervention. A baseline survey is conducted in the absence of available published data on
various socio-economic and business aspects.
Evaluation Research –
a. Formative or mid-term evaluation is done to assess whether the project is in the
right track. It is usually done to identify the strengths, weaknesses, opportunities and
threats. On the basis of the findings of the formative evaluation research corrective
measures are taken to attain the goals of the project.
b. Terminal evaluation research is conducted to assess the efficiency and effectiveness
of the project / intervention.
Effectiveness is the ratio of actual and planned activities. The extents of attainment of goal or
the degree of target fulfilment determines the level of effectiveness.
Efficiency:- Attaining maximum output with minimum input.
Impact Assessment-
The research, which is undertaken to measure the quantitative benefits derived out of project
intervention and qualitative changes that occurred due to project intervention, is known as an
impact assessment research. This type of research also provides information for identifying
the negative impact of the project.
Feasibility Studies -
This type of research is undertaken prior to starting of any business enterprise or any business
related project. This type of research is done to assess the technical, economic, market and
financial viability of the project. The issue whether the project is socially desirable and
environmentally acceptable is also taken into consideration.
Objectives
1. To gain familiarity with a phenomenon or to explore new ideas
2. To portray accurately the characteristics of a particular individual, situation or a group
3. To determine the frequency with which something occurs or with which it is
associated
4. To establish a cause and effect relationship and test the relationship between two
variables
Nature of Research
a. BR- As an economic resource
b. BR- As a system of authority
c. BR- as an activity of business management
d. BR- As a Team effort
e. BR- AS an art or science
f. BR- As a profession
g. BR- as an interdisciplinary system
Formulate Hypothesis
F
Analyse data (test hypotheses) Report Preparation
F
Actionable Proposition
Interpretation and implications
Where,
F = Feedback (Helps in controlling the sub-system to which it is transmitted)
FF = Feed forward (Serves the vital function of providing criterion for evaluation)
IV. Determining Research designs (including sample design)
Research Design is the basic framework which provides guidelines for the rest
of the research work. It is a map or a blueprint according to which the research is to
be conducted
Research design categories
a. Exploratory research designs
b. Descriptive research designs
c. Causal research designs
Following points must be considered while selecting any of the research designs
available.
1. The means of obtaining the information
2. The availability and skills of the researcher and his staff
3. Time available
4. Cost factor
5. Sampling plan
Sample design:
A sample design is a definite plan determined before any data is actually
collected for obtaining a sample from a given population. It provides answer to the
following four questions;
1. What sampling unit should be studied?
2. What should be the sample size?
3. What sample procedure should be used?
4. What contact method should be used?
V. Data collection
a. By observation
b. Through personal interview
c. Through telephone interviews
d. Through Schedules
e. By mailing questionnaire
VI. Analysis of data
The researcher should classify the raw data into some purposeful and usable
categories. Three operations have to be done before the raw data is brought in a form
to be analyzed further
a. Coding
b. Editing
c. Tabulation
After successful completion of above operations following three steps are there to
follow to complete Data analysis.
After successful completion of above operations following three steps
are there to follow to complete Data analysis
1. Hypothesis Testing
a. Chi Square
b. F- test
c. Z test
2. Generalization
3. Interpretation
VII. Interpretation and Implications
VIII. Actionable Implications
IX. Report preparation
PROBLEM IDENTIFIACTION AND DEFINITION:
What is a research problem?
It refers to some difficulty which a researcher experiences in context of either a
theoretical or practical situation and wants to obtain a solution for the same.
Components of a research problem
There must be an individual or a group or an organization
There must be at least two courses of action
There must be at least two possible outcomes
The courses of actions available must provide some chance of obtaining the objective
There must be some environment to which the difficulty pertains
Selecting a problem
Following points to be avoided while selecting a problem,
Overdone Subject
Controversial subject
Too narrow and too vague problem
Unfeasible subject
Uneconomical and time consuming problem
Steps involved in defining a problem
General definition of the problem
Understanding the nature of the problem
Surveying the literature available
Developing the ideas
Rephrasing the problem
Research question
Questions in the mind of researcher
All are able to achieve research objective/ to solve research problem if
put together
Three types of Research questions
Descriptive questions
Comparison Questions
Relational Questions
o Association Questions (Happening together)
o Causal Questions
Concomitant Variation (two things vary together)
Time sequence of the variable (Occurrence of two variables)
Cause variable (Reasons behind)
Illustration
(1) What sport matches your personality?
Research questions
1. Sociability
2. Spontaneity
3. Discipline
4. Aggressiveness
5. Competitiveness
6. Mental focus
7. Risk taking
Variables Very High High Medium Low Very Low
1 *
2 *
3 *
4 *
5 *
6 *
7 *
Possible Answers
Swimming
Carom
Jogging
HYPOTHESIS FORMULATION
Hypothesis: A tentative explanation for an observation, phenomenon, or scientific problem that can be tested
by further investigation. A hypothesis describes in concrete terms, in the form of a statement, what you expect
will happen in your study.
Following aspects should be kept in mind when formulating a hypothesis:
Hypothesis can only be formulated after the researcher has gained enough knowledge regarding the
nature, extent and intensity of the problem.
Hypotheses should figure throughout the research process in order to give structure to
the research.
Hypotheses are tentative statements/solutions or explanations of the formulated
problem. Care should be taken not to over-simplify and generalize the formulation of
hypotheses.
The research problem does not have to consist of one hypothesis only. The type of
problem are investigated, the extent which encircles the research field are the
determining factors on how many hypotheses will be included in the research
proposal.
Criteria for the formulation of a hypothesis: Following criteria are of importance in
formulating hypotheses. A hypothesis should:
1. Stand a test
2. Be expressed in clear language
3. Be in accordance with the general theme of other hypotheses statements in the same
field of study, and study should be regarded as valid.
4. Be coordinated with the theory of science
5. Be a tentative answer to the formulated problem
6. Be logical and simplistic
7. Consider available research techniques (to be able to analyse and interpret the results)
8. Be specific, and
9. Be relevant to the collection of empirical phenomenon and not merely conclude value
judgements
10. In case of exploratory research generally there exists no hypothesis.
Steps in Formulating a Hypothesis
1. Decide what you want to explain: choose a dependent variable
2. Choose independent variables that also show variation
3. Think of multiple causes of the dependent variable
4. Consider alternative measures of both the dependent and independent variables
VARIABLES AND ATTRIBUTES:
Variable: Any entity that can take on different values. Anything that can be assigned a value.
Age can change. Nationality can differ. Variables are not always ‘quantitative’ or numerical.
Attribute: A specific value on a variable.
The variable sex or gender has two attributes: male and female
or,
The variable agreement might be defined as having five attributes:
1=strongly agree
2=disagree
3=neutral
4=agree
5=strongly agree
TYPES of VARIABLES
1. Independent Variable
2. Dependent Variable
Example
Research question – “How could extended use of the Internet negatively affect college
students’ academic performance?
”Extended use of the Internet negatively affects most college students’ academic
performance
Independent variable - Internet use
Attributes- high, moderate, low, none
Dependent variable = Performance
Attributes: Good, average, Bad
Variable Traits
A. Exhaustive
B. Mutually exclusive
Different forms of Hypothesis
A. Non Directional Hypothesis:
All examples of associated difference, sometimes called non directional hypotheses
B. Directional Hypothesis
1. With magnitude
2. Without magnitude
TYPES OF HYPOTHESIS
The prediction is that variables A and B are related.
The only other possible outcome is that variables A and B are not related
A. Null Hypothesis
B. Alternative Hypothesis
A. The Alternative Hypothesis:
The alternative hypothesis is simply the question you are asking.
Denoted by HA or H1
Just opposite to Null Hypothesis
H1: μ1 = μ2
TWO TAILED V/s ONE TAILED TEST
EXAMPLE
You are investigating the effects of a new employee training program and that you believe
one of the outcomes will be that there will be less employee absenteeism. Your two
hypotheses might be stated something like this:
The null hypothesis for this study is;
H0: As a result of the XYZ company employee training program, there will either be no
significant difference in employee absenteeism or there will be a significant increase.
Which is tested against the alternative hypothesis?
Ha: As a result of the XYZ company employee training program, there will be a significant
decrease in employee absenteeism.
Panel Survey:
Definition
Panel survey as a market research method is a type of longitudinal survey.
It can be a qualitativeor quantitative survey used to measure people’s
behavior. Using panel survey, data can be collected in various ways,
starting from conducting interview to using online surveys or even
scanning barcodes.
User-centered design (UCD) aims at increasing usability of a product or
service. It involves the users to design a process of have iterations of
design solutions. In such cases where UCD is applied, qualitative data is
most valuable and this data can be collected using panel survey.
History of Panel Survey
Panel survey helps in collecting the same data, for a longer period of
time, from a group of people, target audience. The commercial use of
panel survey started as early as 1948. However, during that time panel
surveys were mostly restricted to paper and pencil.
Since then, panel survey has come a long way. Electrical
instruments have been used since long to collect data using panel survey.
The Internet has made the revolution in the way data is collected in the
last decade or so.
The validity of the survey is ensured by a large sample size. From a
market research point of view where the maximum focus is to have valid
and extensive data, this data is quantitative and can be measured using
statistical methods. Panel surveys are quite handy in collecting such data.
Data collected through panel enable the possibility of combining accurate
measurement of parameters and individual behavior.
Learn More: Build a strong panel with QuestionPro Audience
Panel Survey Examples
As mentioned above, panel surveys are used to measure accurately
certain parameters and human behaviors. For example, this type of
survey is used to collect and analyze data regarding pricing of a
product, effectiveness of an advertisement or to project sales numbers.
Panel survey is used for panel research to track continuous
consumer purchasing habit, like purchasing groceries, food and drinks,
electronic gadgets, clothing items, toiletries etc.
User-centered design for panel surveys makes use of focus groups.
In this, a moderator is assigned to a small group of people usually 6-10.
The moderator facilitates discussions amongst the people in the
group. Focus groups consist of participants who have fair knowledge of
the subject matter being discussed for the purpose of data collection.