Business Research Methodology ppt 2.pptx

Advanced Research Methodology

Introduction to Research - 1

The word research is composed of two terms, re and search. The dictionary defines the former as a prefix meaning again, a new or over again and the latter as a verb meaning to examine closely and carefully, to test and try, or to probe. Together they form a noun describing a careful, systematic, patient study and investigation in some field of knowledge, undertaken to establish facts or principles.
According to Robert Ross, “research is essentially an investigation, a recording and an analysis of evidence for the purpose of gaining knowledge.” It can generally be defined as a systematic method of finding solutions to problems.
A research need not lead to ideal solution but it may give rise to new problems which may require further research. In other words research is not an end to a problem since every research gives birth to a new question. It is carried on both for discovering new facts and verification of old ones.
Features of Research
 It means the discovery of new knowledge
 Is essentially an investigation
 Is related with the solution of a problem
 It is based on observation or experimental evidences.
 It demands accurate observation or experimentation.
 In research, the researchers try to find out answers for unsolved questions
 It should be carefully recorded and reported
Need for research: (Importance of Research)
The main importance of research is to produce knowledge that can be applied outside a research setting. Research also forms the foundation of program development and policies everywhere around the universe. It also solves particular existing problems of concern. Research is important because we are able to learn more about things, people, and events. In doing research, we are able to make smart decisions.
Marketing research is important because it allows consumers and producers to become more familiar with the products, goods, and services around them. Research is important to society because it allows us to discover more and more that might make are lives easier, more comfortable, and safer. It presents more information for investigation.
This allows for improvements based on greater information and study. It is very important. Research encourages interdisciplinary approaches to find solution to problems and to make new discoveries. Research is a basic ingredient for development and therefore serves as a means for rapid economic development.
The main importance or uses may be listed as under:
 It provides basis for government policies
 Helps in solving various operational and planning problems of business and industry
 Research helps in problem solving
 Is useful to students, professionals, philosophers, literary men, analysts and intellectuals.
Objectives of Research
1. To find out the truth which is hidden and which has not been discovered so far.
2. Aims at advancing systematic knowledge and formulating basic theories about the forces influencing the

1. Research Methods Introduction Meaning Objectives/Purpose Hypothesis Testing Scientific Method Types of Research Scope of Business R esearch Review of Literature Need Research P urpose / Notes taking

2. Introduction: The last two decades there are dramatic changes that have occurred in the business environment throughout the world. Research is very essential for development of any country ex. Japan, USA, Switzerland, Australia, Canada, France, Russia.. Examples of few Research in areas like Science and Technology, Communication, Finance, Banking and Insurance, Education especially Management, Agriculture, Industries, HRM, Marketing.

3. Meaning of Research Search for knowledge or investigation to find facts. A Research simply means Search for facts answer to questions and solution to problems it is a intentional Investigation. It is to find Explanation to Un Explained phenomenon It is an Organized Inquiry; it is adding Knowledge to the Existing Knowledge. Research is a systematic and logical study of an Issue or Problem or Phenomenon. Research is a systematic investigative process employed to increase knowledge by discovering new facts.

4. OBJECTIVES OF RESEARCH To discover answer to question through application of scientific procedure. To find out truth which is hidden and which has not been discovered as yet. To gain familiarities with a fact. To test the hypothesis of a casual relationship between variables. To determine the frequency with which beings, social life and environment.

5. Conti..... Research brings to light information that might never be discovered fully during the ordinary course of life. Research established generalization and general laws and contributes to theory building in various field of knowledge. Research aids planning this contributes to national development. Research aims at developing new tools, concepts and theories for better study of un known fact like solution to social economic problems.

6. Hypothesis Testing H0: Null Hypothesis. H1: Alternative Hypothesis. Types of Errors: Type one Error Type two Error Acceptance and Rejection Criterion

7. TYPES OF RESEARCH Historical Approach: Historical Research is a study based on historical data, past records, and other evidence information sources with a view to reconstructing the origin and development of an institution or a Movement or a system and discovering the trends in the past. The Main source are Monuments, Fossils, Arts and Architecture, Numismatics, Literature and the like. Case study Approach: Case study is a comprehensive study of a social unit such as an Individual, a Family, an Institution, a District or a Community. It is an approach which views any social unit as whole. It also includes in-depth comprehensive study of a person, a social group, an episode, a process , a situation, a Program. A Community, An Institution or any other social Unit, suicides of farmers in Karnataka, Draught in north Karnataka etc .

8. Conti.... Descriptive Approach: Descriptive study is a fact finding Investigation with adequate interpretation. It is the simplest type of research. It is more specific than an exploratory study. It describes the state of affairs as it is exists at present. It describes a research problem by using questionnaires and opinions. It aims at Identifying the characteristics of a community or Institution or any problem under study. Analytical Approach: Analytical study is quantitative data by using statistical techniques and mathematical models to make a critical evaluation of material.

9. Conti ... Applied Research: Applied Research is carried on to find solution for an immediate problem facing of society or an Industry or Business Organization on it aims to help to take policy decision. It solves the existing burning problem. Ex. Sexual Harassment, Farmers Suicides, Swine flu, Bird flu, Depression among young professionals . Fundamental Research or Pure Research : It is mainly concerned with generalizations and with the formulation of a theory. Pure Research is undertaken for the sake of knowledge without any intension to apply in Practice. It is undertaken out of intellectual curiosities. Ex. Behaviors of Workers for changes of working hours conditions, Behaviors’ of Public for changes of Petrol Price, Government Policies. Behaviors of Customer for change of Bank Interest rates by the RBI. Einstein’s Theory of Relativity, Newton’s contributions, Galileo’s contributions etc. Qualitative Approach: Qualitative research is concerned with qualitative Phenomenon. Ex Human behavior, Studies on Crime, Suicides, Divorce, Opinion, Attitude, Cool type of Person.

10. Conti .... Quantitative Research: Quantitative research is based on the measurement of quantity or amount. It is applicable to Phenomena that can be expressed in terms of Quantity. Ex Mathematical Functional Relationship . Conceptual Approach: Conceptual research is that related to some abstract ideas or theory. It is generally used by philosophers and thinkers to develop New Concepts or to interpret existing ones. Empirical Approach: Empirical Research relies on Experience or Observation alone. Scientific Approach: The scientific Research is a body of techniques for investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge. To be termed scientific, a method of inquiry must be based empirical and measurable evidence subject to specific principles of reasoning.

11. Conti.... The Oxford English Dictionary defines the scientific method as "a method or procedure that has characterized natural science since the 17th century, consisting in systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses ." Survey Approach : Survey is a fact finding study. It is a method of research involving collection of data directly from a population or a sample there of at particular time. It must not be confused with the mere clerical routine of gathering and tabulating figures. Survey Research Developed since the 1930's, survey research seeks to identify what large numbers of people think or feel about certain things. It is used extensively in politics and marketing (such as TV advertising ). Examples of survey research are Public opinion polls. Mail Surveys, Telephone Surveys*Consumer Surveys (in the Mall ).

12. Conti…

13. Conti .... Experimental Approach: Experimental Research is designed to assess the effects of particular variables on a phenomenon by keeping the other variables constant or controlled. It aims at determining what manner variables are related to each other. The factor which is influenced by other factors is called a dependent variable and other factor which influence is called independent variables. ( Independent variable = Cause, Dependent Variable = Effect) ex. Agricultural productivity is dependent i.e. (Crop yield per hectare) Where as Soil Fertility, Irrigation, Quality of Seed, Maturing and Cultivation Practices are Independent. `

14. Conti.... Exploratory Research: Exploratory Research is development of Hypothesis rather than their Testing. It is also called as formulate Research here Preliminary study of an unfamiliar problem about which the researcher has little or No Knowledge. It is similar to a doctor’s Initial Investigation of a patient suffering from a Unfamiliar malady for getting some clues for identifying it. Clinical or Diagnostic Approach : This is Similar to Descriptive study but with a different focus. It is directed towards discovering what is happening, why is it happening and what can be done about. It aims at identifying the causes of a problem and possible solution for it.

15. Reference: Kothari. C.R, Methodology of Research, Vikas Publishing House. K.R. Sharma, Research Methodology, National Publishers, Jaipur . Wilkinson & Bhandarkar , Methodology and Techniques of Social Research. Cooper D.R and P.S. Schindler, Business Research Methods, Tata McGraw Hill.