Meaning & Significance

 Research: process of systematic and in depth

study or search for any particular topic,
subject, backed by collection, compilation,
presentation & interpretation of relevant or
data
Objectives of Research:
 Re-interpretation of an existing theory

 Investigation of an unexplored area

 Development of a new theory

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Significance of Research:
 Research is an aid to decision making

 It facilitates the process of thinking, analysis,

evaluation, interpretation of the business

environment
 It provides a basis for innovation

 R & D helps to develop new products & to modify

the existing products

 It identities the problem areas

 It establishes the relnship not only b/w variables in

each functional area, but also b/w the various

functional areas.
 It is an aid to forecasting which is an effective tool in

the hands of mangers contd…

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 It helps all the managerial functions
 It helps in the economic utilisation of
resources
 It is an aid to mgmt information systems and
is helpful in the formulation of policy &
strategy.

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Limitations:
 Research a related to human beings who are not beyond
changes. Hence, validity of data collected, conclusions,
observations & suggestions are bound to undergo
changes.
 Decision makers do not appear to be very keen on
implementing the findings of the R & D departments at
all.
 Small organizations cannot afford to have luxury of R &
D depts at all.
 Business decisions are always influenced by various
internal & external factors. Unless such factors are
systematically analyzed, decisions are bound to be
biased.
 Under ordinary circumstances research has a ltd scope,
it may not be able to consider all relevant factors &
forces in a detailed manner.
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5 Objectives of Research-
 Description: it is an exploratory phase undertaken using

graphical representations & statistical measures that

are not inferential
 Exploration: it involves precise hypotheses to be

confronted & employs inferential statistical tests.

 Modelling: it requires that the descriptive & explanatory

phases brought sufficient information & knowledge

about the system
 Control: it is an objective rarely set in psychological

research as it brings important ethical considerations.

 Forecasting: it helps in identifying & exploiting the

potential opportunities that may arise in future

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Characteristics of Good Research:
 Clear definition of Goals

 Research Process detailed

 Research design thoroughly planned

 Limitations to be revealed

 Conclusions justified

 Researcher experience

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 Different Types of Research:
 On the Basis of Application Research:

a. Policy Research
b. Applied Research
c. Fundamental research
On the basis of method of investigation:
a. Experimental Research b. Survey Research
c. Case Study d. Ex-post Facts Research
e. Action Research f. Field Investigation
g. Evaluation Research h. Library Research

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 Pure Research: Fundamental researches are
original & investigative studies of a basic
nature. The area of investigation would be
new & fresh investigation would be carried
out to originate a new theory
 Research Methodology: According to Clover
& Balsley it is the process of systematically
obtaining accurate answers to significant
pertinent questions by the use of scientific
method.
 Research Scope: it refers to the areas which
research can be extended to.

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Steps in Research Scope:
 Identifying problem areas

 Establishing relationship b/w variables

 Aid in forecasting

 Managerial functions

 Marketing analysis

 MIS

 Formulation of policy, strategy

 Innovation & decision making

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 Basic Research: it is fundamental research
where the topic of study would be new &
fresh investigation would be carried out to
originate a new theory, making additional
contribution to knowledge.
 Policy research: it is basically the research
with policy implications.
 Applied Research: it is meant for testing the
known theories & Models of population.
 Qualitative Research: it refers to social &
behavioral research based on unobtrusive
field of observations that can be analysed
without using numbers or statistics
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 Historical research: it is the systematic & synthesis of
objective location, evaluation & synthesis of evidence in
order to establish facts & draw conclusions concerning
past events.
 Exploratory Research: An exploratory study is often the
first in a series of projects that culminate in one
concerned with the drawing of inferences that are used
as the basis of mgmt action.
 Business Research: it is the process of systematic and
in-depth study or search for any particular topic, subject
or area of investigation of business, backed y
collection, compilation, presentation & interpretation of
relevant details.
 Action Research: this type of research is conducted
through direct action.
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 Ex-post facto research: this type of research
which is based on an analytical & Scientific
examination of the relationship between
independent and dependent variables.
 Empirical Research: it is any research that
bases its findings on direct or indirect
observation as its test of reality.
 Experimental research: it is based on
experiments conducted in a laboratory.
 Survey Research: this is kind of research
finds favour with almost all the social science
researchers.

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 Case Study: this is a method of exploring & analysing
life situations. It is a form of qualitative & quantitative
analysis of a careful & complete observation of a
business situation, a problem, a person or an
institution.
 Field Investigation: this method is used not only in
Social Science research, but more extensively in
managerial research.
 Evaluation research: this type of study which is made
use for the purpose of evaluating a project which has
already been implemented, or a work that has already
been carried out.
 Library Research: This type of research is based on
books, periodicals, journals, documentation, secondary
data etc which are available in the library
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 Steps involved In research Process:
1. Primary Stage:
 Observation

 Interest

 Crystallisation- process of designing the

definite form of research to be undertaking for
the purpose of studying the subject matter.
 Formulation of hypothesis

 Primary Synopsis

 Conceptual Clarity

 Documentation

 Bibliography

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2. Secondary Stage
 Project Planning

 Project Formulation

 Questionnaire & Schedule

 Data Collection

 Compilation of Data

 Classification & Tabulation

 Experimentation

 Testing of Hypothesis

3. Tertiary Stage:
 Analysis & Interpretation

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Scientific Approach:
 Reasonable and widely accepted approach

to research of any variety- comprising of

observation, hypothesis and verification.
 Scientific method is related to characteristics

of science, which is a method of discovering

reliable knowledge about nature.
 Reliable knowledge- justifiable true belief.

 The method used to justify scientific

knowledge & making it reliable is called

scientific method.

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Scientific thinking primarily based on:
 Empiricism- use of empirical evidence.

 Rationalism- practice of logical reasoning

 Skepticism- possessing a skeptical attitude-

constant questioning of beliefs and

conclusions.

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Quantitative Approach:
 This approach relies on reasons behind

various aspects of behavior and investigates

What, Where, and When.
 In general approach to research design, the

quantitative researcher seeks to deduce cause

and effect relationships to predict patterns of
behavior

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Research methods used in Quantitative
approaches are:
 Descriptive Research: it involves collecting data

in order to test hypothesis.

 Correlational Research- attempts to determine

whether and what degree, a relationships exists

between two or more quantifiable variables.
 Causal-comparative Research: attempts to

establish cause-effect relationships among the

variables of the study

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 Qualitative Approach: attempts with a certain
paradigm or world view, a basic set of beliefs
or assumptions that guide their inquiries.
These assumptions are related to:
 Nature of reality

 Relationship of the researcher to that being

researched
 Role of values in the study

 Process of research

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 Ethnography – description of a cultural or
social group or system.
 It involves prolonged observation of the
group, typically through participant
observation in which the researcher is
immersed in the day to day lives of the
people.
 The researcher studies the meanings of
behavior, language and interactions of the
culture-sharing group.

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 Foundations- Basic Concepts & Connections:
 Concepts- it originates from the idea of
classifying and categorizing objects and events
that have common characteristics..
 A concept is a generally accepted abstraction of
observed events, objects, conditions, situations
and behaviors.
 Typically based on experience.
 It can be of agree-upon phenomena {truth,
beauty, justice, prejudice, value, etc}

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 Importance- all thoughts and communications
make use of concepts, although we are
barely aware of problems created by them.
 The concepts are of utmost importance
because hypotheses are built upon by using
concepts and measurement.
 They are developed to test the hypothetical
statements & further data are collected using
concepts

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 Constructs- are theoretical creations that are
based on observations but which c cannot be
seen either directly or indirectly.
 Ex- IQ, Leisure satisfaction, quality of life,
Environmental value, Job Interest, etc.
 These are said to be images or ideas created
by researchers for research purposes to help
building a theoretical model
 A construct is used to communicate the
combination of meanings presented by
concepts.
 The Manager- researcher Relationship

 Should be the Manager a Researcher……..!

 The manager may not necessarily be a
researcher, although a manager sometimes
possess sufficient knowledge and expertise to
conduct his own researches to take certain
decisions.
 Manager has the responsibility towards the
mgmt of research process & initiating the
research.
 If the manager himself is not a researcher or
alternatively does not have either time or talent
to initiate the research process.
 Role of manager- To specify research
problem clearly & provide researcher with
information what he thinks proper & also
facilitate access to company information.
 Alternatively, the manager may state the
problems in terms of decision choices/
alternatives and leave the requirement of
information’s to be specified by the
researchers.
 Occasions when both the manager and the
researcher - jointly decide what information is
needed.
 An effective manager-researcher relationship
presupposes healthy professional interaction
between them, realizing their respective
obligations.
 Critical barriers as regards their responsibilities.
 The first challenge is to turn the manager’s
question or issue into good research question
 Conversely, when researchers are
developing their own research about mgmt
and organizations, they should frame the
questions to be relevant to managers, over
the long, if not the short-term.
 The researchers should point out implications
that follow from such exercises in simple,
clear and unambiguous terms which the
decision maker likes to have.
Some times- Researchers fails- To meet the
need of the decision maker because of
 the inability to understand the issues

involved in the problem,

 lack of right approach to the problem, thought

process far away from reality

 inability to report in concise

 simple terms besides deficiency in required

knowledge under consideration.

 It may also happen that the manager is
looking to make changes.
 The researcher often approaches the study to
prove or disapprove hypothesis to build
knowledge and/or theory
 A partnership b/w the researcher and
manager will help bridge the natural
differences in approach.
 A good manager-researcher relationship-
facilitates the decision making process and may
be hindered due to knowledge gap between the
researcher and the manager and mgmt’s lack of
understanding of research techniques and their
appreciation, leading to stress in the minds of
managers and researcher.
 To get rid of such unwelcome the problem well
and communicate effectively with the manger to
search out his needs
 Translate his needs to a research problem,
requiring a solution.
 A congenial atmosphere and good understanding is
expected to understand the corporate culture
 All sections of the mgmt cadre to make the research an
on-going process for a sound decision making system.
 Finally it may not be construed that a research is
always necessary for any managerial decision.
 Business research has its value if it helps mgmt make
better decision in the prescribed time frame.
 An ideal business research results in increase of
efficiency of the mgmt towards a more profitable
environment and less riskily and does not create any by
product managerial problems and is also worth
incurring cost for research.
 Sometimes the mgmt may have insufficient
resources in terms of time, money and skill to
conduct an appropriate study and in such
situations there are valid reasons to avoid
business research.
END

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