BRM UNIT 1 students (1).pptx Business research Management

Business research Management

1. Unit 1 Role of Business Research

2. Sri Krishnadevaraya Educational Trust SIR M. VISVESVARAYA INSTITUTE OF TECHNOLOGY Bengaluru DEPARTMENT OF MBA

3. UNIVERSITY COURSE STRUCTURE VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELAGAVI Scheme of Teaching and Examinations – 2020 - 21 MASTER OF BUSINESS ADMINISTRATION Choice Based Credit System (CBCS) & Outcome Based Education(OBE) Course Title (Subject) / Course Code Research Methadology /22MBA23   Teaching Hours / Week Examination Credits Theory Practical Component Duration in Hrs CIE Marks SEE Marks Total Marks 03 02 03 40 60 100 04 Note: CIE = Cumulative of Internal Examination, SEE = Semester End Examination

4. MBA – II SEMESTER Sub: Research Methodology , Sub Code: 22MBA23 Module-1 Business Research Business Research: Meaning, types, process of research- management problem, defining the research problem, formulating the research Hypothesis, developing the research proposals, research design formulation, sampling design, planning and collecting the data for research, data analysis and interpretation. Research Application in business decisions, Features of good research study Subject Faculty Name: Dr Priyanka Sharma & Ms. Deepthi J R

5. What is Research ?

6. What is Research ? Research means finding answers to the questions. It is a systematic search for truth. Through research, new and original information, ideas about the world we live in, are obtained. Research is search for knowledge. Research is defined as a scientific and systematic search for information on a specific topic.

7. Definition of Research …….as the search for knowledge , or as any systematic investigation, with an open mind, to establish novel facts, solve new or existing problems, prove new ideas, or develop new theories.

8. Objective of Research To gain familiarity with a phenomenon or to achieve new insights into it. To portray accurately the characteristics of a individual, situation or a group To test a hypothesis of a casual relationship between the variables.

9. ........defined as the systematic and objective process of gathering, recording and analysing data for aid in making business decisions. Business Research Defined

10. Business Research contd … A process of determining , acquiring, analyzing, synthesizing, and disseminating relevant business data, information , and insights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performance.

11. Scope of Business Research To fulfill the need for knowledge of the organization, the market ,economy or other area of uncertainty. Development and implementation of strategies require information Intuition without research can lead to disappointment Business Research helps decision makers shift from intuitive information to systematic investigation.

12. Characteristics of Business Research Is aimed at answering a problem Demands accurate observation and description Requires collection of primary data and involves secondary data for a particular purpose Requires expertise of the researcher Carefully recorded and reported.

13. Basic Research Applied Research Business Research Types

14. Basic Research Research that is intended to expand the boundaries of knowledge itself or to verify the acceptability of a given theory. Research done to make contribution to existing knowledge Attempts to expand the limits of knowledge. Not directly involved in the solution to a pragmatic problem.

15. Basic Research Generally can not be implemented immediately . Conducted to verify the acceptability of a given theory or to discuss more about a concept.

16. Basic Research Example Are members of highly cohesive work groups are more satisfied than members of less cohesive work groups? GE generates knowledge concerning the different applications of electrical energy –('we bring good things to life‘) ‘Imagination at work’.

17. Applied Research Research undertaken to answer questions about specific problem or to make decisions about a particular course of action Conducted when a decision must be made about a specific real-life problem Research done with the intention of applying the results of the findings to solve a specific problem currently being experienced.

18. Managerial value of Business Research Reduces uncertainty by providing information that improves the decision making process. Supports managers with pertinent information

19. Determining When to Conduct Business Research Time constraints Availability of data Nature of the decision Benefits versus costs

20. Is sufficient time available before a managerial decision must be made? Is the infor - mation already on hand inadequate for making the decision? Is the decision of considerable strategic or tactical importance? Does the value of the research information exceed the cost of conducting research? Conducting Business Research Do Not Conduct Business Research Time Constraints Availability of Data Nature of the Decision Benefits vs. Costs Yes Yes Yes Yes No No No No Determining When to Conduct Business Research

21. Characteristics of Good Research Clearly defined purpose Detailed research process Thoroughly planned design High ethical standards Limitations addressed Adequate analysis Unambiguous presentation Conclusions justified

22. Research Process and Design : An overview

23. Research Process Research process consist of series of action or steps necessary to carry out research . These activities overlap continuously rather than following a stickily prescribed manner Steps involved in the research process are not mutually exclusive; nor they are separate.

24. Research Process Formulating the research problem Extensive literature survey Development of working hypotheses Preparing the research design Determining sample design Collecting the data Execution of the project Analysis of data Hypothesis testing Generalizations and interpretation and Preparation of the report or the thesis

25. 1. Formulating the Research Problem Research Problem A research problem refers to some difficulty that a researcher experiences in the context of either a theoretical or practical situation and wants to obtain a solution for the same.

26. Components of a Research Problem There must be an individual or a group which has some difficulty or the problem. There must be some objective(s) to be attained. There must be alternative means or courses of action for obtaining the objective. There must remain some doubt in the mind of a researcher with regard to the selection of alternatives. There must be some environment(s) to which the difficulty pertains.

27. How does one select a research problem? Avoid a subject that has been overdone for it will be difficult to throw any new light in such a case. Controversial subjects should be avoided by an average researcher. Subjects whose scope is too narrow or vague should be avoided. The subject should be familiar and feasible so that the related research material or sources of research are within one’s reach. Know yourself and the limitations of your experience, your ability and capacity.

28. A problem well defined is problem half solved Careful attention to problem definition allows a researcher to set the proper objectives. If the purpose of the research is clear, chances of collecting the necessary and relevant information is more. Managers often concentrate on getting the right answer than asking the right question. If data is collected before clear definition of problem, data will not help solve the problem.

29. Literature Review It is an extensive survey of all available past studies relevant to the field of investigation. It gives us knowledge about what others have found out in the related field of study and how they have done so.

30. PURPOSE OF REVIEW To gain a background knowledge of the research topic. To learn from other researchers mistakes and avoid making the same ones. To identify the concepts relating to it, potential relationships between them and to formulate researchable hypothesis. To identify appropriate methodology, research design, methods of measuring concepts and techniques of analysis. To identify data sources used by other researchers. To learn how others structured their reports.

31. Sources Of Literature Books and Journals Electronic Databases [ Ebscohost , ABI/Inform (proquest.com), Social Sciences Citation Index(SSCI)] Bibliographic Databases Abstract Databases Full-Text Databases Govt. and Industry Reports Internet Research Dissertations / Thesis

32. Points to be kept in mind while reviewing literature Read relevant literature. Refer original works. Read with comprehension. Read in time. Index the literature.

33. 3.Development of working hypotheses Hypothesis is tentative assumption made in order to draw out and test its logical or empirical consequences.

34. Hypothesis Hypothesis is a tentative statement about something, the validity of which is usually unknown. Hypothesis is a declarative statement about the relationship between two or more variables. Can be proven or disproven by valid and reliable data Is a possible answer to a question Educated guess about the answer to a question framed in a particular study

35. 4.Preparing the research design Is the blueprint for fulfilling objectives and answering questions . Defines the conceptual structure within which research is conducted. Facilitates research to yield maximum information. The function of research design is to collect the relevant information with minimum expenditure, effort, time and money.

36. 5.Determining the sample design All the items under consideration in any field of inquiry constitutes a universe or population Complete enumeration of all items in the population is known as census. Selection of only a few items from the universe is called as sample Researcher must decide the way of selecting a sample – sample design

37. Sample design is a definite plan determined before any data are actually collected for obtaining a sample from a given population. Samples can be probability or Non probability samples Probability sample – each element has a known probability of being included in the sample Non probability sample - do not allow researcher to determine this probability

38. 6.Collecting the data Primary data Secondary data Primary data can be collected in one or more ways- By observation Through personal interview Telephone interview Mailing of questionnaire Through schedules

39. 7.Execution of the project If Execution of the project proceeds on correct lines, the data to be collected would be adequate and dependable. Data collected has to be according to pre-defined standard of accuracy Respondents non response to be controlled

40. 8.Analysis of Data Analysis of data requires some closely related operations like editing, coding, tabulation and then drawing statistical inferences.

41. 9.Hypothesis testing Checking whether the data collected supports the hypotheses or they happen to be contrary. Hypotheses can be tested using one or more tests like t test, F test, Chi square test etc.

42. 10.Generalization and interpretation If a hypotheses is tested ,it may be possible for the researcher to arrive at generalization If the researcher had no hypotheses to start with ,some pre-defined theories need to be referred to explain the findings of the study.

43. 11.Preparation of the report The layout of the report should be as follows. a)preliminary stage b)main text c)end matter Preliminary stage – Carry title, acknowledgement, table of content, list of tables and figures. Main text- Introduction, Summary of findings, Conclusion End matter- Appendices

44. Module-2 Research Design

45. Research Design: Definition A research design is a framework or blueprint for conducting the research project. Research design is the plan and structure of investigation as to obtain answers to research questions. Provides a framework for the collection and analysis of data. It details the procedures necessary for obtaining the information needed to structure or solve research problems .

46. Research design addresses the following questions 1.Why is the study being conducted? 2.What is the study all about? 3.When will the study carried out? 4.Where will the study be conducted? 5.What is the kind of data required? 6.Where is the required data available. 7.What is the technique of collecting data? 8.Method of data analysis adopted? 9.Method of sampling?

47. Components of a Research Design Design the exploratory, descriptive, and/or causal phases of the research . Define the information needed . Specify the measurement and scaling procedures. Construct and pretest a questionnaire (interviewing form) or an appropriate form for data collection. Specify the sampling process and sample size. Develop a plan of data analysis.

48. Need for Research Design Facilitates smooth sailing of various research operations yielding maximal information with minimal expenditure of effort, time and money Stands for advance planning of he methods to be adopted for collecting data and techniques to be used in their analysis. Constitutes as research foundation.

49. Characteristics of a research Design Reliability-constant result Validity- accurate and correct results Objectivity- no inclination(free from bias) Generalisation

50. A Classification of Research Designs Single Cross-Sectional Design Multiple Cross-Sectional Design Research Design Conclusive Research Design Exploratory Research Design Descriptive Research Causal Research Cross-Sectional Design Longitudinal Design

51. Exploratory Research Exploratory research is to explore and obtain clarity about the problem situation. Meaningful in any situation where the researcher does not have enough understanding to proceed with the research work. Exploratory studies are generally carried out- 1.When not much is known about the situation(area of investigation is new or vague) 2.When we want to solve a problem but no information is available as to how same or similar problem was solved in past.

52. Is flexible in its approach and involves qualitative approach. Rarely involves structured questionnaires ,large samples and probability sampling plans. Doing a study for the first time in a particular organization does not make research exploratory ,but only when knowledge is scant and deeper understanding is sought makes it exploratory.

53. Exploratory Research is conducted for the following purposes - Formulate a problem or define a problem more precisely Identify alternative courses of action Develop hypotheses Isolate key variables and relationships for further examination Gain insights for developing an approach to the problem Establish priorities for further research

54. Example “Quality of service is declining and we don’t know why.” “Would people be interested in our new product idea?” “How important is business process reengineering as a strategy?”

55. Methods/Techniques of Exploratory Research Quantitative and Qualitative Relies more on qualitative technique Approaches 1)Secondary data analysis 2)Experience surveys 3)Case Studies 4)Pilot studies- Focus group, depth interviews and projective techniques

56. 1) Secondary data analysis – Referring to studies made by others(previously published) for their own purpose. 2) Experience survey - An exploratory research technique in which individuals who are knowledgeable about a particular research problem are surveyed. In attempting to understand the problems at hand, managers may discuss issues and ideas with top executives and knowledgeable managers who have had personal experience in the field. When we interview persons in an experience survey, we should seek their ideas about important issues or aspects of the subject and discover what is important across the subject’s range of knowledge. Getting ideas about important issues or aspects of the subject and discover what is important from the interviewed person. Outcome – Generation of new hypotheses, practicality, controlling factors, Parties involved.

57. 3) Case Analysis - An exploratory research technique that intensively investigates one or a few situations similar to the researcher’s problem situation. A comprehensive study pertaining to few specific situations, particularly complex in which important interrelations are considered. Is used to enhance understanding. Requires rare combination of judgement to select cases and insight to interpret the same. Provides holistic orientation, real life situations.

58. 4) Pilot studies – some aspect of the research will be on a small scale. Generates primary data. Major categories of pilot studies include Focus group, depth interview and projective techniques.

59. Focus Group - Is a group of people(6 to 10) led by a moderator, who meet for 90mins to 2 hrs. Exchange of ideas, feelings and experiences on a specific topic. Eg : Topics like new product ,product concept, new employee motivation program Outcome- list of ideas and observations with recommendations by the moderator.

60. Conclusive Research When researcher clearly has the information Objectives are clearly defined Test specific hypothesis and examine specific relationships. Research design is more formal and structured. Based on large sample Data obtained are subjected to quantitative analysis. Eg : Training increases productivity

61. Exploratory & Conclusive Research Differences Objective: Character-istics: Findings /Results: Outcome: To provide insights and understanding. Information needed is defined only loosely. Research process is flexible and unstructured. Sample is small and non-representative. Analysis of primary data is qualitative. Tentative. Generally followed by further exploratory or conclusive research. To test specific hypotheses and examine relationships. Information needed is clearly defined. Research process is formal and structured. Sample is large and representative. Data analysis is quantitative. Conclusive. Findings used as input into decision making. Exploratory Conclusive

62. Descriptive Research Describe something- Market characteristics or functions To know the characteristics of this class to design pedagogy Preplanned and structured Large sample Requires a clear specification of who, what, when, where, why and way of the research.

63. Descriptive research is conducted for the reasons- To describe the characteristics of relevant groups, such as consumers, salespeople, organizations, or market areas(describing the profile of frequent shoppers) . To estimate the percentage of units in a specified population exhibiting a certain behaviour(percentage of frequent shoppers). To determine the perceptions of product characteristics( how do households perceive the various department stores in terms of factors of the choice criteria). To make specific predictions(what will be the sales of MK Ahmed in Bangalore south area).

64. Objective: Characteristics: Methods: A Comparison of Basic Research Designs Discovery of ideas and insights Flexible, versatile Often the front end of total research design Expert surveys Pilot surveys Secondary data Qualitative research Describe market characteristics or functions Marked by the prior formulation of specific hypotheses Preplanned and structured design Secondary data Surveys Panels,Observation and other data Determine cause and effect relationships Manipulation of one or more independent variables Control of other mediating variables Experiments Exploratory Descriptive Causal

65. Example What have been the trends in organizational downsizing over the past ten years? What is the average age at which children learn to walk? What is the association between birth order and social skills? Why does school climate influence student achievement?

66. Cross-sectional Designs Involves collection of information from any given sample of population elements only once. Most frequently used descriptive design Involves slice of the population In single cross-sectional designs(sample survey research design), there is only one sample of respondents and information is obtained from this sample only once. In multiple cross-sectional designs , there are two or more samples of respondents, and information from each sample is obtained only once. Often, information from different samples is obtained at different times.

67. Cohart analysis is a type of multiple cross sectional design . Consists of series of surveys conducted at appropriate time intervals. A cohart is a group of respondents who experience the same event within same interval of time. Eg : 1)considering age cohart of people between 8 – 19 years to study soft drink consumption pattern. Study was conducted every 10 years for 30 years.

68. Longitudinal Designs A fixed sample (or samples) of population elements is measured repeatedly on the same variables. A longitudinal design differs from a cross-sectional design is that the sample or samples remain the same over time. A panel consists of a sample of respondents who have agreed to provide information at specified intervals.

69. Methods of Descriptive Research Secondary data studies Surveys- a research technique in which information is gathered from a sample of people using questionnaire. Panels Observation techniques-record what is observed eg : 'people meter '- is a machine attached to TV sets to record the programs being watched by various member of a household.

70. Causal(experimental /hypothesis testing) Research Causal is used to obtain cause and effect relationships Requires a planned and structured design Causal research is appropriate for the following purposes: 1)To understand which variable are the cause(independent variable) and which variables are the effect(dependent variable) 2)To determine the nature of the relationship between the causal variables and effect to be predicted.

71. Method of Causal Research Experimental design Experiment - The process of manipulating one or more independent variables and measuring their effect on one or more dependent variables, while controlling for the extraneous variables.

72. Errors in Research Error

73. Total error Systematic error (bias) Random sampling error Tree Diagram of Total Survey Error Administrative error Respondent error Non response bias Response bias Deliberate falsification Unconscious misrepresentation Acquiescence bias Extremity bias Interviewer bias Auspices bias Social desirability bias Data processing error Sample selection error Interviewer error Interviewer cheating

74. Random Sampling Error A statistical fluctuation that occurs because of change variation in the elements selected for the sample

75. Systematic Error Systematic error results from some imperfect aspect of the research design or from a mistake in the execution of the research

76. Systematic error (bias) Administrative error Respondent error Tree Diagram of Total Survey Error

77. Respondent error Non response error Response bias Tree Diagram of Total Survey Error

78. Respondent Error A classification of sample bias resulting from some respondent action or inaction Nonresponse bias Response bias

79. Non response Error Non respondents - people who refuse to cooperate Not-at-homes

80. Response bias Unconscious misrepresentation Deliberate falsification Tree Diagram of Total Survey Error

81. Response Bias A bias that occurs when respondents tend to answer questions with a certain slant that consciously or unconsciously misrepresents the truth

82. Acquiescence bias Extremity bias Interviewer bias Auspices bias Social desirability bias Tree Diagram of Total Survey Error

83. Acquiescence Bias A category of response bias that results because some individuals tend to agree with all questions or to concur with a particular position.

84. Extremity Bias A category of response bias that results because response styles vary from person to person; some individuals tend to use extremes when responding to questions.

85. Interviewer Bias A response bias that occurs because the presence of the interviewer influences answers.

86. Auspices Bias Bias in the responses of subjects caused by the respondents being influenced by the organization conducting the study.

87. Social Desirability Bias Bias in responses caused by respondents’ desire, either conscious or unconscious, to gain prestige or appear in a different social role.

88. Systematic error (bias) Administrative error Respondent error Tree Diagram of Total Survey Error

89. Administrative Error Improper administration of the research task Blunders Confusion Neglect Omission

90. Data processing error Sample selection error Interviewer error Interviewer cheating Tree Diagram of Total Survey Error

91. Administrative Error Interviewer cheating - filling in fake answers or falsifying interviewers Data processing error - incorrect data entry, computer programming, or other procedural errors during the analysis stage. Sample selection error - improper sample design or sampling procedure execution. Interviewer error - field m istakes