Business Research Methods.pptx B.Com BRM

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1. Dr. D. Rengaraj Assistant Professor Department of Commerce SRMIST FSH RMP Semester v Business Research Methods

2. Research is a way of expanding the existing knowledge base and creating new knowledge . Research may be very broadly defined as systematic gathering of data and information and its analysis for advancement of knowledge in any subject . It is a movement from the known to the unknown and also a voyage of discovery Research methodology is the specific procedures or techniques used to identify, select, process, and analyze information about a problem or a topic . It's a logical, systematic plan to resolve a research problem Research Meaning

3. The act of collecting information from a variety of places to arrange it in a book, report, or list is termed as Compilation . Data compilation is the collation of raw data and their transformation into a format that can be easily manipulated or combined with other data in preparation for further analysis. The definition of an investigation is careful research or examination . An investigation is a systematic and an active effort or thorough attempt to learn the facts about something complex or hidden . It involves the process of analysing, collecting and presenting facts in a manner which enables the parties to know the essential facts regarding the matter under enquiry Compilation vs Investigation

4. DIFFREENCES THEORY RESEARCH Definition Theory is a generalized concept which provides an explanation to existing things. Research is a way of expanding the existing knowledge base and creating new knowledge. Nature Theory is a conceptual framework. Theory is used to explain things Research is a creative work that generate new knowledge Practical Nature Theory does not include practical elements Research is mostly a practical approach Arrangement Theory is usually a result of research Research usually precedes theories. Based on the results of the research, a theory is made Theory vs Research

5. A domain is an area of control or a sphere of knowledge. Domain in research refers to the field of study. In computing, a domain is a sphere of knowledge identified by a name. On the Internet, a domain means a set of network addresses. Domain is web site’s address and it is used to find anything online. Two types of domain Generic Domain .com mainly for commercial entities .org originally for organizations .net originally for network infrastructures . edu Educational use . gov Governmental use, .mil Military use, Country code domain – two letter domain extension referring countries. Example .in – India . uk – United Kingdom .us – United States C.Domain .C is a one character domain used by Block Chain Technology DOMAIN & C.DOMAIN

6. Meaning : Social research is the study of social trends, dynamics and principles commonly displayed by people and societies. Social research includes topics in many social science fields, such as psychology, sociology and anthropology. Organizations may use social research to improve their marketing practices, and sometimes government institutions use social research to inform legislature and other policies. Definition of Social Research

7. According to C. A. Moser: “ Social research is a systematized investigation to gain new knowledge about social phenomenon and problems .” Definition of Social Research

8. Meaning : Business research is a process of acquiring detailed information of all the areas of business and using such information in maximizing the sales and profit of the business . It helps the companies determine which product/service is most profitable or in demand . Business research means acquisition of information or knowledge for professional or commercial purpose to determine opportunities and goals for a business . Definition of Business Research

9. Sources of Knowledge : Social research is an important source of knowledge. It opens new ways of knowledge and wisdom. It gives knowledge about the unknown facts. It paves out the way of ignorance and gives new direction in a social life.  Research In Informative : It provides updated, proved, authentic and very useful information to the end users. As the findings are scientific based the results and information are reliable.  Solution of Social Problems : Social Research helps to find the causative factors for an existing social problems and also provides solution for the problems.  Structural Changes : Social research helps in bringing structural changes in a social life. The outcome of the social research will bring the social and cultural change. 

10. Social Planning : To develop and bring social growth and development in a society social planning has to be developed which is the outcome and function of social research.  Increases the Welfare of Humanity : Most social science studies are conducted with the objective of enhancing the welfare of humanity.  Can Predict Behaviour : Social research helps to understand different people and societies. Information gathered from social research helps to predict the behaviour of certain individuals or groups.  Formulates New Theories : Social research helps to formulate new theories in different fields of study. There are many existing theories on leadership, motivation, and human behaviour that wouldn’t exist if it wasn’t for social research.

11. Objectives of Social research

12. Discovery of facts and their interpretation While conducting social research, the researcher focuses on the research problem at hand. Knowledge that helps to dissolve the problem are acquired and experimented. The results of the experiment will shed some light on the facts related to human behavior . Interpretations of these facts mean extracting the juice from the results to satisfy the research problem.  Diagnosis of problems and their analysis After stating the problem it is important to understand the cause behind it. Dealing with the problem from its root will helps to diagnose it completely. This will help us to move closer to what the solutions to look for and how to handle them. This will also motivate to think critically and creatively about the problem and reach out to more ways of gathering insights using brainstorming and reaching to people with creative ideas.  Systematization of knowledge. The word systematization means systematically organizing. In this context, it means organizing the knowledge gained from studying the existing material.The key to the Systematization of knowledge includes analyzing the existing literature and extract useful insights from it.

13.  Control over social phenomena A social phenomenon can be defined as “All behavior which influences or is influenced by organisms sufficiently alive to respond to one another.” Social research allows the researcher to have control over the variables that causes a change in the social phenomenon.  Prediction Prediction refers to fore-telling something based on observing its patterns using experiences and research. In social research, it allows to study the customers’ preferences and what they will prefer to use in the future. Prediction research provides insights on the costs, effects, consequences of the variables that are under experiment.  Development planning The results of the social research helps us to plan for the future based on the outcome of the research.  Social welfare Social welfare is the good or well-being of a group of people or Society. It can be in terms of healthcare, daily life financial, etc. the issues which are dealt with on regular basis and which contribute the most to the social problems.

14. Complexity of Social Data: Problems of Concepts Problems in Interpreting Relationship between Cause and effect Dynamic Nature of Social Phenomena: Problem of maintaining objectivity Unpredictability Difficulty in the Verification of the Inferences Difficulty in the Use of Experimental Method Problems of Research in Social Science

15. 1. It is an honest and exhaustive process. 2. The facts are studied with understanding. 3. The facts are discovered in the light of problem. Research is problem-centred. 4. The findings are valid and verifiable. 5. Research work should contribute new knowledge in that field. characteristics of research

16. The following characteristics may be gathered from the definitions of ‘Research’ 1. It gathers new knowledge or data from primary or first-hand sources. 2. It places emphasis upon the discovery of general principles. 3. It is an exact systematic and accurate investigation. 4. It uses certain valid data gathering devices. 5. It is logical and objective. 6. The researcher resists the temptation to seek only the data that support his hypotheses. 7. The researcher eliminates personal feelings and preferences. 8. It endeavours to organise data in quantitative terms. 9. Research is patient and unhurried activity. 10. The researcher is willing to follow his procedures to the conclusions that may be unpopular and bring social disapproval. 11. Research is carefully recorded and reported. 12. Conclusions and generalisations are arrived at carefully and cautiously. GENERAL CHARACTERISTICS OF RESEARCH

17. The function of research is to aid to making a decision concerning the refinement or extension of knowledge in this particular area. ( b ) The function of research is to improve the students learning and classroom problem with which teacher is encountering with problems. The more effective techniques for teaching can be developed. ( c ) Another function of research is to aid social studiesal administrators to improve the Social Studiesal systems. THE FUNCTIONS OF RESEARCH