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Business Research Notes Rev (1)

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Uploaded by

Sandip Olee
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© © All Rights Reserved
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CHAPTER 1

INTRODUCTION
MEANING
Research refers to the scientific and systematic act of
searching new knowledge. Research is an inquiry or an
investigation with a specific purpose.

Research is a systematic and organized study & analysis of an


issue that helps to solve the problem or develop new theory or
add new knowledge in the existing theories.
NATURE AND FEATURES OF RESEARCH
1.Reliability : If any research yields similar results
each time it is undertaken with similar population
and with similar procedures, it is called to be a
reliable research. More the results are similar; more
reliability is present in the research.
2.Validity :Validity refers to how accurately a method
measures what it is intended to measure. Research,
to be considered authentic, has to be validated first,
which means that it shows how accurately it
measures something.
3. Objective: A good research should be objective and it must
answer the research question specifically not in subjective
way.
4. Free from personal biases: Research must be free from
personal biases and perceptions of researcher.
5. Generalizability: It is the extent to which a research findings
can be applied to larger population. If research findings can be
applied to any sample from the population, the results of the
research are said to be generalizable.
6. Empirical : Empirical nature of research means that the
research has been conducted following rigorous scientific
methods and procedures. Each step in the research has been
tested for accuracy and is based on real life experiences.
7. Systematic: No research can be conducted haphazardly.
There are set of procedures that have been tested over a period
of time and are thus suitable to use in research. Each research,
therefore, should follow a procedure.
SCIENTIFIC RESEARCH
Scientific research is the application of scientific method to the
investigation of relationships among different variables to find out
solutions of the problems or to develop a new theory. Scientific research
involves a systematic process that focuses on being objective.
Scientific research is a systematic, empirical and critical investigation of
propositions about presumed relationship among the variables.
FEATURES OF SCIENTIFIC RESEARCH
 Purposiveness : Scientific research must have some specific purpose
for conducting the research. All the activities to be carried out is
directly influenced by the purpose of the research.
 Rigor : In order to make a meaningful and worthwhile contribution to
the field of knowledge, research must be carried out rigorously.
Conducting a rigorous research requires a good theoretical knowledge
and a clearly laid out methodology.
 Parsimony: Scientific research must have the feature of
parsimony ie; the research should be conducted in simple and
economic manner. There should be simplicity in explaining the
problems and generalizing solutions for the problems.
 Generalizability: Scientific research must have the
characteristics of generalizability. The results obtained from the
research must be applicable and acceptable worldwide.
 Objectivity: Scientific research must be objective in nature.
Scientific research must deal with facts rather than
interpretations of facts.
 Testability: It is one of the important characteristics of scientific
research to understand and find out the relationship between
dependent and independent variables.
 Replicability: Replicability means that if we use similar methods and
procedures of data collection and analysis as compared to the previous
study, the other research studies must also come out with similar
results.

THE SCIENTIFIC RESEARCH PROCESS


The scientific research process is a multiple-step process where the steps
are interlinked with the other steps in the process. Following is the
mostly used scientific research process.
 Realizing the problem: It is the first step in scientific research.
Researcher should realize and worried about the problem. Problems
can be realized through feeling, study, observation etc.
 Identify the Problem: The second step in the process is to identify a
problem or develop a research question. The research problem may be
something the researcher identifies as a problem, some knowledge or
information that is needed by the researcher .
 Review the Literature: After the problem has been identified, the
researcher must learn more about the topic under investigation. This
step provides foundational knowledge about the problem area. The
review of literature also educates the researcher about what studies
have been conducted in the past, how these studies were conducted,
and the conclusions in the problem area.
 Hypothesis Formulation: It refers to the estimated result of the
research. It presents the relationship of two variables in the tested
form. It helps the researcher to determine method to be used and data
to be collected.
 Research Design: It is the framework of research. Research design is
based on the objective of research. It clarifies the way of collecting
data, method of analysis and bases of research.
 Collection of Data: The actual study begins with the collection of
data. The collection of data is a critical step in providing the
information needed to answer the research question. Every study
includes the collection of some type of data whether it is from the
literature or from subjects to answer the research question.
 Data Analysis: The researcher has to analyze the collected data so
that the research question can be answered. The researcher analyzes
the data according to the plan. Data are analyzed by using different
mathematical, statistical, financial and accounting tools. The results of
this analysis are then reviewed and summarized in a manner directly
related to the research questions.
 Interpretation and Generalization: After the analysis of data ,
certain conclusions can be drawn in relation to hypothesis which yield
theory. And that conclusion is applied in all the similar organization
which is generalization.
TYPES OF RESEARCH
Research is broadly divided into two categories:
a) Basic research
b) Applied research
Fundamental or Basic Research: Basic Research, pure or
fundamental research, is one that focuses on advancing
scientific knowledge for the complete understanding of a
topic.
In a nutshell, when knowledge is acquired for the sake of
knowledge it is called basic research.

Basic Research is completely theoretical, that focuses on basic


principles and testing theories. Therefore, basic research helps
in adding new knowledge to the already existing knowledge.
Applied Research
A research that is conducted to find out a solution for an
immediate problems faced by the society or business
organization is known as applied research.

It is directed towards providing a solution to the specific


practical problems and develop innovative technology.
In finer terms, it is the research that can be applied to real-life
situations.

A research, the outcome of which has immediate application is


also termed as applied research.
APPROACHES TO RESEARCH
 QUANTITATIVE RESEARCH: A research which is
conducted based on the measurement of quantity is known as
quantitative research. This research considers to the measurable
facts and finds out the result analyzing those facts using
statistical or mathematical tools viz. mean, median, mode,
correlation regression, standard deviation etc.
 It is numerical, non-descriptive, applies statistics or
mathematics and uses numbers.
 It is an iterative process whereby evidence is evaluated.
 The results are often presented in tables and graphs.
 It is conclusive.
 It investigates the what, where and when of decision making.
 QUALITATIVE RESEARCH
A research which is concerned with subjective phenomena is
known as qualitative research. Its main aim is to get depth
knowledge and explain the issue or subject matter rather than
finding the solution. Generally it is conducted to understand the
response of the people.
Qualitative Research is primarily exploratory research. It is used to
gain an understanding of underlying reasons, opinions, and
motivations.
 It is non-numerical, descriptive, applies reasoning and uses
words.
 Its aim is to get the meaning, feeling and describe the situation.
 Qualitative data cannot be graphed.
 It is exploratory.
 It investigates the why and how of decision making.
DIFFERENCES BETWEEN QUALITATIVE AND QUANTITATIVE RESEARCH

QUALITATIVE RESEARCH QUANTITATIVE RESEARCH


A research which is concerned A research which is conducted based on the
with subjective phenomena is measurement of quantity is known as
known as qualitative research. quantitative research.

Qualitative research is holistic in Quantitative research is particularistic.


nature.

It follows a subjective approach as It follows objective approach as the


the researcher is intimately researcher is uninvolved.
involved.
It is exploratory in nature. It is conclusive.
It is based on purposive sampling. It is based on random sampling.
Qualitative data collection Quantitative Research uses measurable data
methods vary using unstructured to formulate facts and uncover patterns in
or semi-structured techniques. research.
MANAGEMENT RESEARCH
Management research refers to the act of study of various
dimensions of organizational problems and finding out the
managerial tools and techniques so that problem can be solved
with the use of such ideas. It can be said that research that is
conducted to solve that problem which are related to planning,
organizing, directing and controlling is known as
management research. It is a systematic inquiry that helps to
solve business problems and contributes to management
knowledge.
Management research is such a research that is conducted to
identify and analyze the problem and develop managerial tools
to take decisions for solving managerial problem.
NATURE OF MANAGEMENT RESEARCH
Transdisiciplinary: Management research should consider
varied nature of information and data from large area of subjects
like; strategy, structure, environment, etc. In other words, it
combines the information of various subjects.
Commercial advantages: Management research is conducted to
solve particular problems of individual organization. Thus,
management research focuses in commercial advantages of
business organization.
Practical: The findings of management research must resolve
practical management problems. In other the result of this
research is practically applicable.
Double Hurdle: It has problem of theory and practice. Managers
always need information of high quality to help them to make the
right decision. There is always hurdle of balancing the theory and
practice.
PARADIGMS OF RESEARCH
A research paradigm is an approach or a research model to
conducting a research that has been verified by the research
community for long and that has been in practice for hundreds of
years. Most of the research paradigms emerge from one of the two
of the approaches to research that are positivist approach and
interpretivism approach.
Every research uses one of the research paradigms to use as a
guideline for developing research methodology and to take on the
research venture in a manner that is most valid and appropriate.
The scientific quantitative (positivist) and qualitative
(interpretivist)research method are used while conducting business
and management research.
Types of Research Paradigm

 Positivist Paradigm
Most of the scientific or quantitative research use positivism as a
conceptual framework for research. Quantitative research always
follows positivist approach because positivists believe in the
empirical hypothesis testing. In pure sciences, positivism is
preferred because of its empirical nature to study facts. In
quantitative research, the research follows a probabilistic model
that is determined by previous research. Positivists believe that the
findings of one study can be generalized to another study of a
similar kind regardless of it is conducted in a different environment
and situations. This is true of scientific variables like volume,
speed, density, strength, and weight.
 Interpretivist Paradigm
Most of the qualitative research in social sciences use
interpretivism approach to research. Interpretivists believe that
human behavior is multilayered and it cannot be determined by
pre-defined probabilistic models. It depends on the situations and is
determined by environmental factors other than the genes. A human
behavior is quite unlike a scientific variable which is easy to
control.
Human behaviors are affected by several factors and are mostly
subjective in nature. Therefore interpretivistic believe in studying
human behavior in the daily life rather than in the controlled
environment.
Positivism vs. Interpretivism
Positivism Interpretivism

Knowledge develops by investigating the social reality through Social world cannot be understood by applying research
observing the facts. principles adopted.

Social world exists externally and is viewed objectively. Social world is viewed subjectively.

Research is value free. Research is driven by interest.


VALUE OF MANAGEMENT RESEARCH IN
BUSINESS DECISION MAKING
 Identify Problems: Business research helps to determine
the nature of situations or identify the existence of
problems in the organizations. It scans the environment and
helps to identify potential problems that may take place in
the organization.
 Diagnosing and assessing problems and opportunities:
After identifying the problems or potential opportunities,
researcher should diagnose situations so as to clarify the
situation. If there is problem, they need to specify the
problems and causes. Researcher may undertake qualitative
and quantitative analysis so that they can understand the
practical courses of action.
 Selecting course of action: After the identification of
alternative course of action, research is often conducted to obtain
specific information that will aid in evaluating the alternative
and in selecting the best course of action. Course of action is
evaluated through the use of various performance criteria.
 Implementing a course of action: The best plan may also fail if
it is not properly implemented. Research provides real
information regarding the situation so that the manager can
prepare various subsidiary plans to implement course of action.
 Evaluating the course of action: Evaluation refers to the formal
and objective measurement. After the execution of course of
action, research serves as a tool to inform managers whether
planned activities are properly executed and achieved the results
as expected.
Applying Scientific Thinking in Management Problems
Scientific thinking refers to the goal focused problems solving and
step by step logical, organized and rigorous method that helps to
identify problems, collect data, analyse data and draw conclusion.
The scientific research applies both basic and applied research.
Social problems are not similar, they are always dynamic. So it is
very much critical to apply scientific method in social science
research. Although there are problems, scientific methods are
getting success.
Difficulties in Applying Scientific Methods to Social
Science Research
 Complexity: Behavior of person differs according to time and
situation. Social science has unlimited uncontrolled factors.
Scientific method is only used in controlled situation. So,
problems arise.
 Difficult to Obtain Accurate Measurement: Scientific method
needs specific measurement. It is difficult to measure exactly
the social factors. Thus, it is difficult to use scientific methods
in social science research.
 Misconceived impression of society: Due to the difference in
feeling, people do not like to give opinion even if they are ready
to give opinion or they do not provide right information. It
makes scientific method more difficult.
 Subjectivity of Social Events: Generally social events are
subjective not objective. Social events are analyzed subjectively
to draw the conclusions which are not exact. But scientific
methods are objective.
 Emotional Tendencies: Behaviour and method of doing work
of a person depends on the emotional tendencies. Thus, it is
difficult to use scientific methods in social science research.
 Vested Interest of the Researcher: Generally, social
researchers conduct research with vested interest. They use
different research methods to draw intended result but scientific
method draw always objective result. So, it is difficult.
 Qualitativeness of Social Events: Human behavior can be
measure in quality rather than quantity. Social issues can't be
measure and explained in quantitative term, which is needed by
scientific method.
 Lack of Universality of Social Events: People understand the
events differently as per the context and place. Thus social
science research does not get acceptance all over the world.
ETHICAL CONCERN IN RESEARCH
Ethics are the norms or standards for conduct that distinguish
between right and wrong. They help to determine the
difference between acceptable and unacceptable behaviors.
Ethical considerations in research are critical.
If the behavior presented by the researcher is out of values and
norms of research then it is considered as unethical behavior.
Ethical behavior should be shown while selecting sample,
collecting and analyzing data and preparation of report. To be
ethical, a researcher should do the following works.
 Not putting pressure to participants for getting information:
The researcher should not give any physical and mental
pressure to get essential and personal information to the
respondents.
 Not deception of participants: The researcher should give
freedom to the respondents to give their opinion but should
not give pressure to get the answer as expected by him/her.
 Not fabricating the data: Researcher should not modify or
manipulate the facts, figures and information while
developing the result as per the interest of the researcher.
 Not presenting dishonesty: Researcher should show
honesty in the entire work of research. Researcher should
show honesty while collecting data, analysing data and
drawing the conclusion.
 No manipulation: A researcher should explain research
design without prejudice. Conclusion of the research
should be shown as per the report, it should not be
changed.
No illegal work: The researcher should follow all the rules
and regulation of the government as well the organization
from where the information and data has been collected.
No discrimination: The researcher should not discriminate to
the respondents while collecting and analyzing the data on
the basis of cast, gender, religion, qualification etc.
Respect for Intellectual Property: Honor patents, copyrights,
and other forms of intellectual property. Do not use
unpublished data, methods, or results without permission.
Give proper acknowledgement or credit for all contributions
to research.
Confidentiality: Protect confidential communications, such
as papers or grants submitted for publication, personnel
records, trade or military secrets, and patient records.
Qualitative Research
A research which is concerned with subjective phenomena is
known as qualitative research. Its main aim is to get depth
knowledge and explain the issue or subject matter rather than
finding the solution.
Qualitative Research is primarily exploratory research. It
provides insights into the problem or helps to develop ideas or
hypothesis for potential quantitative research. Some common
methods include focus groups (group discussions), individual
interviews, and participation/observations.
Qualitative research is a scientific method of observation to
gather non-numerical data. Qualitative research approaches are
employed across many academic disciplines, focusing
particularly on the human elements of the social and natural
sciences.
FEATURES OF QUALITATIVE RESEARCH
 Studying the meaning of people's lives, under real world
condition
Own diaries, journals, writings, photography
Not limited to pre established standards
Independent opinion
 Representing the views and perspectives of the people
Capturing the perspective of participants is major
Real life events not the values meaning held by
researcher
 Covering the contextual conditions within which people live
Social institutional and environmental conditions
Contextual conditions strongly influence all human
events
 Contributing insights into existing or emerging concepts
that may help to explain human social behavior
Occasion for developing new concepts
Explain social process for explanations and new
inquiries
 Striving to use multiple sources of evidence rather than
relying on a single source alone
Real world setting and its participants
Variety of sources of evidence: interview,
observation, documents
Assumption of Qualitative Research
 Interaction: The major philosophical assumption of all types of
qualitative research is that reality is constructed by individuals
interacting with their social worlds. The key concern is understanding
the phenomenon of interest from the participants' perspective, not the
researchers.
 Field Work: For the successful completion of qualitative research
the researcher should got to the field of the respondents to observe or
record the behavior in natural way.
 Descriptive: Qualitative research is descriptive in nature. The
finding of this research is in the form of theory, concepts, tentative
hypothesis abstracts etc. which denotes descriptive nature. Words and
pictures are used instead of numerical figures.
 Multiples Realities: Qualitative researchers assert that there is not
one reality, but multiple realities that we can only discover through a
qualitative approach. Each person has their own reality, and these
would be missed or ignored through a strictly quantitative approach
so qualitative research is based on multiple realities.
Inductive: Qualitative researchers build theory from observation
and understandings gained from the field. Inductive reasoning is
based on learning from experience. In inductive , we begin with
specific observations and measures, formulate some tentative
hypotheses that we can explore, and finally end up developing
some general conclusions or theories.
 Multiple Perspectives: Qualitative research examines
possibilities from different angles that can clarify problems and
help participants to develop their reactions. The finding of
qualitative research remains more realistic perspective of
multiple people.
 Verification: Verification is the process of research,
examination, etc., required to prove or establish authenticity or
validity. The accuracy of information involves verifying the
information with informants.
METHODS OF QUALITATIVE RESEARCH
GROUNDED THEORY: The Grounded Theory
method was developed by two sociologists, Barney
Glaser and Anselm Strauss. Grounded theory
methodology is one of the most widely used
approaches to collect and analyze data within
qualitative research. Grounded theory refers to a set of
systematic inductive methods for conducting
qualitative research aimed toward theory development.
Grounded theory is quite different from the traditional
model of research, where the researcher chooses an
existing theoretical framework, and only then collects
data to show how the theory does or does not apply to
the phenomenon under study.
CASE STUDY: The most common type of qualitative
research, case study looks at episodic events in a definable
framework bounded by time and setting. The overall purpose
is generally to explain “how”. Case study refers to the
collection and presentation of detailed information about a
particular participant or small group, frequently including the
accounts of subjects themselves. A form of qualitative
descriptive research, the case study looks intensely at an
individual or small participant pool, drawing conclusions only
about that participant or group and only in that specific
context. Case studies are conducted to find out the solution of
the problems of an organization but its findings cannot be
generalized.
ETHNOGRAPHIC STUDY: It is the systematic study of
people and cultures. Ethnography is a scientific research
strategy often used in the field of social sciences, particularly
in anthropology and in some branches of sociology, also
known as part of historical science that studies people, ethnic
groups and other ethnic formations, composition, social
welfare characteristics, as well as spiritual culture. It is
designed to explore cultural phenomena where the researcher
observes society from the point of view of the subject of the
study. As a method of data collection ethnography entails
examining the behavior of the participants in a certain specific
social situation and also understanding their interpretation of
such behavior.
PHENOMENOLOGICAL STUDIES: It is an approach to
psychological qualitative research with an idiographic focus, which
means that it aims to offer insights into how a given person, in a given
context, makes sense of a given phenomenon. It allows the researcher to
investigate into the perceptions, perspectives, understandings, and
feelings of those people who have actually experienced or lived the
phenomenon or situation of interest.
FIELD RESEARCH: Field research is the collection of information
outside a laboratory, library or workplace setting. The approaches and
methods used in field research vary across disciplines. Field research
involves a range of well-defined informal interviews, direct observation,
collective discussions, analyses of personal documents produced within
the group, self-analysis and life-histories.
COMMON PRATICES IN QUALITATIVE RESEARCH
 FLEXIBLE DESIGN: Qualitative research uses flexible
research design rather than fixed research design. In flexible
design either the sampling methodology or the statistical
methods used for analysis may be subject to change or amend
during the study process.
 FIELD BASED DATA: The data collected under qualitative
research are based on the field of the study. Result is drawn
from fieldwork and by examining the diaries, journals,
photographs associated with participants.
 USE OF NON NUMERICAL DATA: Non-numeric data is a
subset of all possible types of information content that excludes
those value sets required and constrained to the representation
of numeric content. Qualitative research analyses the subjective
information using various computer software and statistical
tools that are collected from interview, focus group, observation
etc.
 DIFFERENT INTERPRETATIONS: Interpretation is at
the heart of qualitative research because qualitative
research is concerned with meaning and the process of
meaning-making. Qualitative researchers assume that
people’s actions are always meaningful in some way and
that through the process of engaging with those meanings,
deeper insights into relevant social and psychological
processes may be gained. Furthermore, qualitative data
never speaks for itself and needs to be given meaning by
the researcher.
BUILDING TRUSTWORTHINESS AND CREDIBILITY
INTO QUALITATIVE RESEARCH
 TRANSPARENCY: The first quality for building
trustworthiness and credibility is that qualitative research
should be done in a publicly accessible manner. The
research procedures should be transparent and data should
be available for inspection.

 METHODICNESS: A second craft objective is to do


qualitative research methodically. However, being methodic
means following some orderly set of research procedures. In
other words, being methodic also means bringing a sense of
completeness to a research effort, as well as cross-checking
a study’s procedures and data.
ADHERENCE TO EVIDENCE: A final objective is that
qualitative research be based on an explicit set of evidence.
For many studies, especially those where the goal is to have
participants describe their own decision-making processes,
the evidence will consist of participants’ actual language as
well as the context in which the language is expressed. In
these situations, the language is valued as the representation
of reality. If there are multiple perspectives, analysis may
mean making sense from each perspective and also testing
the evidence for consistency across different sources with
deliberate efforts made to seek out contrary cases to
strengthen the findings even more.
Strength of Qualitative Research
 Detail and Depth Study: Issue related to study are defined
clearly and factors are developed in a detail way.
Qualitative research is based on this kind of deep
understanding of people and issues. Often it's about
listening to people's voices, either through an interview, or
a detailed survey.
 Open Interview: An open interview is a way of gathering
information from people. The interview is considered open-
ended because even though the questions can be scripted,
the interviewer usually doesn't know what the contents of
the response will be. These interviews focus more on the
participant's thoughts, feelings, experiences, knowledge,
skills, ideas and preferences.
 Flexible Framework: Flexibility is the ability to change or
react with little penalty in time, effort, cost or performance. The
framework and direction of qualitative research can be changed
and new framework according to changeability of environment
and situation can be implemented.
 Capture Human Behaviour: The data based on human
experiences and behaviours are more powerful and can be
effectively captured by qualitative research rather than
quantitative research.
 Finding the Complexities: Quantitative researcher only
considers to the seen facts but qualitative researcher analyses
the insight causes behind the scene. Complex human behaviors
can be found by qualitative research.
 Transferable: Generally, the finding of qualitative research
(done on few cases and individual) cannot be generalized. But
the result of the research can be transferred to another setting
for investigation.

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