New RM Module 1

8/4/2019 New RM Module 1

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Research Methodology

Research refers to a search for knowledge

Research can also defined as a Scientific and

systematic search for pertinent information on

a specific topic

In fact research is an art of scientific

investigation


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Some people consider Research as a

movement, a movement from known to the

unknown

Research is an academic activity so the term

should be used in technical sense


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According to Clifford Woody:

Research comprises:

Defining and redefining problems

Formulating hypothesis or suggested solutions Collecting, organizing and evaluating data

Making deductions and reaching conclusions

At last carefully testing the conclusions todetermine whether they fit the formulating

hypothesis


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In short the search for knowledge through

objective and systematic method of finding

solution to a problem is Research


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Objectives of research

The purpose of research is to discover answers to questionsthrough the application of scientific procedures

The following are the objectives:

1. To gain familiarity with a phenomenon or to achieve newinsights into it

2. To portray accurately the characteristics of a particularindividual, situation or a group.

3. To determine the frequency with which something occursor with which it is associated with something else

4. To test a hypothesis of a causal relationship betweenvariables


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Motivation in Research

The possible motives for doing research may beeither one or more of the following:

1. Desire to get a research degree along with itsconsequential benefits

2. Desire to face the challenge in solving theunsolved problems

3. Desire to get intellectual joy of doing somecreative work

4. Desire to be of service to society

5. Desire to get respectability


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Types of Research

Descriptive Vs. Analytical

Applied Vs. Fundamental

Quantitative Vs. Qualitative Conceptual Vs. Empirical

Some other types


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Descriptive Vs. Analytical

Descriptive research includes surveys and fact findingenquiries of different kinds. The main characteristic ofthis method is that the researcher has no control overthe variables, he can only report what has happened or

what is happening

In Social Science and business research the term usedfor descriptive research is Ex post facto research

In analytical research the researcher has to use facts

or information already available, and analyze these tomake a critical evaluation of the material


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Applied Vs. Fundamental

Research can either be applied (action) or

Fundamental (basic or pure)

Applied research aims at finding a solution for

an immediate problem facing a society or an

industrial/Business organization

Fundamental research is mainly concerned

with generalization and with the formulation

of a theory.


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Quantitative Vs. Qualitative

Quantitative research is based on the

measurement of quantity or amount. It is

applicable to a phenomena that can be

expressed in terms of quantity

Qualitative research is concerned with

qualitative phenomenon. i.e., phenomena

relating to or involving quality or kind


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Conceptual Vs. Empirical

Conceptual Research is that related to some

abstract ideas or theory

Empirical Research relies on experience or

observations alone . It is data based research

coming up with conclusions which are capable

of being verified by observation or experiment


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Research Approaches

There are two basic approaches:

Quantitative Approach Qualitative Approach


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Quantitative Approach

The quantitative approach involves the

generation of data in quantitative form which

can be subjected to rigorous quantitative

analysis in a formal and rigid fashion

This approach is further subdivided into

1. Inferential

2. Experimental

3. Simulation approaches


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Inferential Approach: to form a database fromwhich to infer characteristics or relationship ofa population

Experimental Approach: Some variables aremanipulated to observe their effects on othervariables

Simulation Approach: It involves the

construction of an artificial environmentwithin which the relevant information anddata can be generated


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Characteristics of a good research

Systematic

Logical

Empirical Replicating

Sufficient

Objective


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Significance

The role of research in several fields of appliedeconomics whether related to business or to theeconomy as a whole has greatly increased in moderntimes.

Research provides the basis for nearly all governmentpolicies in our economic system

Research has its special significance in solving variousoperational and planning problems of business andindustry

Research is equally important for social scientists instudying social relationship and in seeking answers tovarious problems


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Management Research

The management research can be defined as

the process of systematic investigation of any

management problem


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Objectives

Decision making Project

Policy

Controlling

Economic and Business environmental Market objective

Product development

Innovation

Customer satisfaction Profit and promotional

Corporate Image


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Research Process

Research process consists of series of actions

or steps necessary to effectively carry out

research and the desired sequencing of these

steps

1. Formulating the research problem

2. Extensive literature survey

3. Development of working hypotheses

4. Preparing the research design


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5. Determining Sample design

6. Collecting the data

7. Execution of the project8. Analysis of data

9. Hypothesis testing

10. Generalizations and Interpretation11. Preparation of the report or thesis

C it i f d h


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Criteria of good research

1. The purpose of the research should be clearly

defined and common concepts be used2. The research procedure used should be described in

sufficient detail to permit another researcher to

repeat the research for further advancement,

keeping the continuity of what has already beenattained

3. The procedural design of the research should be

carefully planned to yield results that are asobjective as possible


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4. The researcher should report with complete

frankness and estimate their effects upon the

findings

5. The analysis of data should be sufficiently adequate

to reveal its significance and the methods of analysis

used should be appropriate6. Conclusions should be confined to those justified by

the data provide an adequate basis


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Research problem

A research problem refers to some difficulty

which a researcher experiences in the context

of either theoretical or practical situation and

wants to obtain a solution for the same.


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Components of a research problem

1. There must be an individual or a group of which has

some difficulty or the problem2. There must be some objective (s) to be attained at.

3. There must be alternative means (or the courses ofaction) for obtaining the objective(s) one wishes to

attain. This means that there must at least twomeans available to a researcher for.

4. There must remain some doubt in the mind of aresearcher with regard to the selection of

alternatives5. There must be some environment to which the

difficulty pertains


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Thus,

A research problem is one which requires a

researcher to find out the best solution for the

given problem.

i.e. to find out by which course of action theobjective can be attained optimallyin the

context of a given environment


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Selecting the Problem

1. Subject which is overdone should not be normally

chosen2. Controversial subject should not become the choice of

an average researcher

3. Too narrow or too vague problems should be avoided

4. The subject selected for research should be familiar andfeasible so that the related research material or sourcesof research are within ones reach.

5. The importance of the subject, the qualifications and

the training of a researcher, the costs involved, the timefactor are also be considered in selecting a problem

6. The selection of the problem must be preceded by apreliminary study


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Technique involved in defining a problem

1. Statement of the problem in a general way

2. Understanding the nature of the problem

3. Surveying the available literature

4. Developing the ideas through discussions5. Rephrasing the research problem into a

working hypotheses


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The following points must also be considered while defining aresearch problem

(a) Technical terms and words or phrases, with special meaningsused in the statement of the problem should be clearlydefined

(b) Basic assumptions or postulates relating to the researchproblem should be clearly stated

(c) A straight forward statement of the value of the investigationshould be provided

(d) The suitability of the time period and the sources of dataavailable must also be considered

(e) The scope of the investigation or the limits within which theproblem is to be studied must be mentioned explicitly indefining a research problem

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