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Systematized effort to gain knowledgeRedman and Mory.

Research is a process of manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in the construction of theory or in the practice of an artSlesinger and Stephenson in Encyclopedia of Social Sciences
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Research comprises the following:

Defining and redefining the problem Formulating hypothesis Collecting, organizing and evaluating data Making deductions and reaching conclusions Carefully testing the conclusions to determine whether they fit the hypothesis.

Methodology means the systematic study of the methods, principles, procedures and rules applied within a discipline.
Research methodology is a way to systematically solve the research problem.

 Business

research is a systematic enquiry that provides information to guide managerial decisions. is a process of planning, acquiring, analyzing and disseminating relevant data and insights to decision makers, leading to appropriate actions, which, in turn, maximize business performance.

It

 Changing

approach to business- from gut feeling and anecdotal evidence to qualitative- to quantitative whether large commercial ventures, public agencies, non profits, small businesses or individual entrepreneurs

Relevant

Significant in solving various operational and

planning problems of business and industry Market Important research for (investigation of the for

structure and development of market)

formulating

policies

purchase, production and sales

Motivational research studies consumers motives in their purchase behavior (Consumer behavior)
Operations research refers to the application of mathematical, logical and analytical techniques to the solution of business problems of optimization of resource use, cost minimization and profit maximization.

Aid to Informed decision making Helps identify problem areas Aid to forecasting Helps business budgeting Tool for efficient production and investment decision making Optimal utilization of resources Basis for innovation

Managers need research to measure and compare the ROI on various strategies. Helps in a better understanding of employees, stockholders and customers

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Developments Aiding Business Research Competition local, domestic and global More complex business organisations Stakeholders demanding greater role Growth of Internet Growth of technology and greater computing power Advanced Analytical techniques

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1.

Purpose should be clearly defined.

2. Research Process should be described with sufficient detail 3. Design (Sampling, questionnaire, observation etc) should be thoroughly planned so as to yield objective results.

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4. High ethical standards -from misusing information , to forcing respondents to answering questions to animal rights and human dignity- Dilemma 5. Limitations should be frankly revealed (e-g., flaws in design) so that the decision maker is made aware.

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6. Analysis of data should be adequate and methods of analysis appropriate. Should check for reliability and validity, and probability of error
[Link] presentation.

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1. Problem formulation 2. Development of an approach to the problem 3. Research Design 4. Selection of Data collection techniques 5. Sampling techniques 6. Fieldwork or Data Collection 7. Analysis and interpretation 8. Report preparation and presentation

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1.

2.
3. 4. 5.

6.
7. 8.

Purposiveness Rigor Testability Replicability Precision and Confidence Objectivity Generalizability Parsimony

PURPOSIVENESS: Research should be started with a definite aim or purpose. Rigor: Rigor connotes carefulness, scrupulousness, and the degree of exactitude in research investigation. Replicability It means that it can be used again if similar circumstances prevails.

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Testability Research should be based on testable assumptions/hypotheses developed after a careful study of the problems involved. The scientific research should enable the testing of logically developed hypotheses to see whether or not the data collected support the hypotheses developed.
Precision Precision refers to the closeness of the findings to reality based on a sample. It reflects the degree of accuracy and exactitude of the results of the sample.

 Confidence refers to the probability that our estimations are correct. That is, it is not merely enough to be precise, but it is also important that we can confidently claim that 95% of the time our results would be true and there is only a 5% chance of our being wrong. This is also known as confidence level.

Objectivity:
The conclusions drawn through the interpretation of the results of data analysis should be objective; that is, they should be based on the facts of the findings derived from actual data, and not on our subjective or emotional values. Generalizability: It refers to the scope of applicability of the research findings in one organization setting to other settings.
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Parsimony:
Simplicity in explaining the phenomenon or problems that occur, and in generating solutions for the problems, is always preferred to complex research frameworks that consider an unmanageable number of factors.

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1. To gain familiarity with a certain phenomenon or gain new insights (Exploratory research)

2. To portray accurately the characteristics of a particular individual, group or situation. (Descriptive)

3. To see the frequency with which some phenomenon is associated with something else (Diagnostic) 4. Hypothesis of causal relationship between variables (Hypothesis-testing)
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Descriptive Analytical Applied Fundamental Quantitative Qualitative Conceptual Empirical

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Descriptive Research: Description of the state of affairs as it exists at present.

It includes surveys and fact findings enquiries of different kinds. Ex post facto research - researcher has no control over variables Example: frequency of shopping, preference of people, etc.

Analytical Research:
The researcher has to use facts or information already available and analyze these to make a critical evaluation of the material. Applied Research:

It aims at finding a solution for an immediate problem facing a society or an industrial business organization.
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Fundamental research:
It is mainly concerned with generalizations and with formulation of theory. Gathering knowledge for knowledges sake is termed as pure or basic research. Quantitative Research: It is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity Qualitative Research: It is concerned with qualitative phenomenon i.e phenomena relating to quality or kind.

Conceptual Research:
It is related to some abstract ideas or theory. It is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones. Empirical research: It relies on experience or observation alone , often without due regard for system and theory. It is data based research coming with conclusions which are capable of being verified by observation or experiment. It can also called as experimental type of research.

Field setting research or laboratory research or simulation research Environment in which research is carried out. One time research: Confined to single time period Longitudinal research Research carried on several time periods Clinical or diagnostic research Case study method or in-depth approaches to reach the basic causal relations. Historical research Study events or ideas of past Conclusion oriented research Decision oriented research Ex- Operations research
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Exploratory Research: When a researcher wants to deal with new issue or try to begin a new research is called exploratory research. Undertaken with the aim of clarifying ambiguous problems general problems usually known but not sufficiently understood the purpose is to get more information, not to uncover specific courses of action (subsequent research) Experience surveys, analysis of secondary data, case studies, pilot studies

Causal Research:
Undertaken with the aim of identifying cause and effect relationships amongst variables Often difficult to determine because of the influence of other variables (concommitant Variation and the presence of other hidden variables)

Cross sectional / one shot: Data are gathered just once, perhaps over a period of days over weeks or months, in order to answer a research question. Ex: data collected from shopping mal from June to Dec to study their concern in market. Time series analysis: Series of successive observations of the given phenomenon over a period of time are referred to as time series. Series are the result of the effects of following factors: 1. Secular or long term trend changes are gradual but extend throughout the entire period of year 2. Short time Oscillations changes taking place in the short period of time like: (i) Cyclical fluctuations (ii) Seasonal fluctuations (iii) Irregular fluctuations.

A research problem, in general, refers to some difficulty which a researcher experiences in the context of either a theoretical or practical situation and wants to obtain a solution for the same

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Selecting the research problem:

1. Subjects on which the research is carried on amply should not be normally chosen as there will not be new dimension to reveal 2. Too narrow or too vague problems should be avoided 3. The researcher should be familiar with the subject chosen for research. The researcher should have enough knowledge, qualification and training in the selected problem area.

The resources needs to solve the problem in terms of time, money, efforts, and manpower requirement should be taken into account before embarking on a problem.
4. The subject of research should be familiar and feasible so that related research material or sources of research can be obtained easily.

5. The selection of a problem must be preceded by a preliminary study.

Technique involved in defining a problem:

Statement of a problem in a general way. Understanding the nature of the problem Surveying the available literature Developing the ideas through discussions Rephrasing the research problem.

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Hypothesis : Types and Testing procedure

A hypothesis can be defined as a logically conjecture relationship between two or more variables expressed in the form of a testable statement. Relationships are assumed on the basis of the network of associations established in the theoretical framework. Formulating such testable statement is called hypothesis development. The hypothesis can be grouped on the following basis;

Statement of hypotheses Hypothesis can be expressed either as propositions or in the form of If-then statements. Example: Aged customers will be inclined to take insurance policy If customers are aged, then they will be inclined to take insurance policy Directional and Non directional Hypotheses

The hypothesis which indicates the type or direction of relationship between variables is called as directional hypothesis. In specifying the relationship between variables the terms such as positive, negative, more than, less than and the like are used in these hypotheses. Eg., High income consumers spend more on consumer durables.

Non-directional hypotheses postulate relationship but does not offer indication of the direction of the relationship. Eg., If you ask someone to roll a ball in their hands while trying to remember a list of words (the IV) this could either have a positive or negative impact on their ability to recall the words (the DV). Null and alternative hypotheses
Null hypotheses states that there is no significant relationship between the variables. Null hypotheses also state that there is no difference between what we might find in the population characteristics and the sample that is being studied.

Alternative hypotheses states that there is significant relationship between the variables Hypothesis testing: Meaning and Approaches The purpose of hypothesis testing is to determine the accuracy of the hypotheses framed due to the fact that the data is collected from sample and not from the entire population There are two approaches to hypothesis testing; classical or sampling theory and the Bayesian approach

Classical approach is mostly used in research application. This approach represents an objective view of probability and the decision-making is made totally on an analysis of available sampling data
Bayesian statistics also use sampling data for decision but go beyond them and considers all other available information. The additional information consists of subjective probability estimates stated in terms of degrees of belief.

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Statistical testing procedure

The sequence for testing a hypothesis is discussed below;

1. 2. 3. 4. 5. 6.

State the null hypothesis Choose the statistical test Select the desired level of significance Compare the calculated difference value Obtain the critical test value Interpret the test

State Ho or Ha Specify the level of significance Decide the correct sampling distribution Sample a random sample and workout an appropriate value from sample data Calculate the probability that sample result would diverge as widely as it has from expectations, if Ho were true Is this probability equal to or smaller than value in case of one tailed test and /2 in case of two tailed test Reject Ho Accept Ho

THEORY: In a general sense, any more or less formalized conceptualization of the relationship between variables. Any generalized explanatory principle.

What makes a good theory: 1. Falsifiability - The theory must make sufficiently precise
predictions that we can at least imagine evidence that would contradict the theory

2. Parsimony simplicity
3. Generativity - A good theory doesnt just explain results that have been found, but it also generates predictions that can be tested Research is promoted by the offering of a good theory. 4. Precision the theory makes precise predictions. Ambiguity is bad for a theory 5. Good track record the theory holds up to research results. Studies have tested the hypotheses and have provided support.

The Use of Theory.

Theory guides research

Organizes ideas All research has a purpose

Paradigms Sociology, history, and political science, especially. A model or framework for observation and understanding, which shapes both what we see and how we understand it.

The Aspects of theory:

Theories can be categorized by: The direction of reasoning The level of explanation Direction of Reasoning: Inductive vs. deductive reasoning Deductive reasoning Deductive reasoning happens when a researcher works from the more general information to the more specific. Sometimes this is called the top-down approach because the researcher starts at the top with a very broad spectrum of information and they work their way down to a specific conclusion. All children like ice-cream [general principle] Tommy is a child [particular case] Tommy will like ice-cream [deduction]

Inductive reasoning reasoning from the particular to the general Process of reasoning that a general principle is true because the special cases you've seen are true Example: All swans we have seen have been white; therefore all swans are white. All swans we have seen have been white; therefore the next swan we see will be white. All known planets travel about the sun in ellipitical orbits; therefore all planets travel about the sun in ellipitical orbits.
Applying these types of reasoning to theory construction. Deductive approach build a theory by starting with an abstract, logical idea. Based on the theory, perform research to test the theory

Inductive approach build a theory by first looking at the results of many research projects and offering a theory that can be used to explain the data. Level of explanation: Levels of explanation are different throughout science E.g., chemistry vs. physics vs. psychology vs. sociology Theory can be used at various levels of explanation In the social sciences, three levels of explanation for theory Micro-level theory seeks to explain behavior at the level of the individual or family environment

Macro-level theory seeks to explain behavior at the level of large groups of people.
Meso-level theory seeks to explain the interactions of micro-level organisms. Somewhat between micro and macro.

Scientific Method in Research:

1. Process must be objective to reduce bias in methods and interpretation of results. 2. Process must be systematic. [ involve standard procedurees]

3. Enquiry should be conducted through a process of system, observation that can be verified by experience