Business Research Method s

1. Business Research Methods 1

2. Research, a somewhat intimidating term for some, is simply the process of finding solutions to a problem after a thoroughstudy and analysis of the situationfactors. WHAT ISRESEARCH? 2

3. Research is an art of scientific investigation. Dictionary definition of research is a careful investigation or inquiry specially through search for new facts in any branch of knowledge. • Some people consider research as a movement from the known to the unknown. It is actually a voyage of discovery. We all possess the vital instinct of inquisitiveness. When the unknown confront us, more and more our inquisitiveness makes us probe and attain understanding of the unknown. Meaning of research

4. 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; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis. Definition of Research

5. Business research can be described as a systematic and organized effort toinvestigate a specific problem encountered in the work setting, which needs asolution. BUSINESSRESEARCH 5

6. We can define business research as an organized, systematic, data-based, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with purpose of finding answers or solutions toit. DEFINITION OF BUSINESSRESEARCH 6

7. SOMECOMMONLY RESEARCHED AREAS IN BUSINESS Employee behaviors such as performance, absenteeism, andturnover Employee attitudes such as jobsatisfaction, loyalty, and organizationalcommitment Supervisory performance, managerial leadership style, and performanceappraisal systems. 7

8. TYPES OF BUSINESS RESEARCH: APPLIEDAND BASIC 1. Appliedresearch Research done with the intention of applying the results of the findings to solve specific problems currently being experienced inan organization. Research to identify social,economic or political trends that may affect a particular institution,marketingresearch,evaluation research are examples of applied research. Thus, the central aim of applied research is to discover a solution for some pressing practical problems. 8

9. Fundamental research/pure research/basic research Fundamental research is mainly concerned with generalisations and with the formulation of a theory.Itdoesnot usually generate findings that have immediate applications in a practical level.Fundamental research is driven by curiosity and the desire to expand knowledge in the specific research area.

10. general qualities • Scientific mind- he must have a scientific mind. He should not be influenced or guided by superficial facts. He must give up personal likes and dislikes. The research should be performed along scientific lines. • Seeker of truth and knowledge- a researcher is a seeker of truth. So he himself must be truthful and sincere. He must be prepared to make any type of sacrifice in terms of time, money and energy to find out the real truth. • Alertness, insight and imagination- he must have the mind to work under all circumstances. A researcher should be accurate in observation, quick in perception and statement.He must be disciplined. And must have a high degree of imaginative power. Qualities of a researcher

11. d) Quick power of understanding and ability for explaining- he must know his subject thoroughly. He must be a good conversationalist and must possess ability to put across ideas to others. He should have the ability to grasp things quickly trained and educated –a researcher must have good knowledge about his area of research. He must have sufficient experience and training to understand, analyse and solve the problem. F) patient and educated- a researcher must have the quality of patience. A research combines in itself success and failure. A researcher must not feel defeated if the the desired outcome doesnot come forth at the expected time. Many years may be required to complete the project.

12. Knowledge of the subject: the research worker should have • a complete knowledge of the subject under study.this knowledge helps him in preparing forms of questionnire and schedule and getting proper information. • b) Knowledge of the technique of research-the researcher should also possess intimate knowledge of the technique that is to be applied to the problem. • c)Personal taste in the study • d) Unbiased attitude-he must maintain an open mind towards the subject under study • e)Familiarity about the informants- the researcher must be familiar with the people whom he is studying. 2 specific qualities

13. Purposiveness Started the research with a definite aim orpurpose Rigor Rigor connotes carefulness, scrupulousness, and the degree of exactitude in researchinvestigations Testability The manager or researcher develops certain hypotheses on how employee commitment can be enhanced, then these can be tested by applying certain statistical tests to the data collected for the purpose. THE HALLMARKS OF SCIENTIFIC RESEARCH1-3

14. Replicability The results of the tests of hypotheses should be supported again and yet again when the same type of research is repeated in other similarcircumstances. Precision andconfidence Design the research in a manner the ensures that ourfindings are as close toreality Precision: reflects the degree of accuracy or exactitude of the results on the basis of the sample, to what really exists in the universe. Confidence: refer to the probability that our estimations are correct, it is important that we can confidently claim that 95% of the time our results will be true and there is only a 5 % chance of our beingwrong. THE HALLMARKS OF SCIENTIFIC RESEARCH2-3

15. Objectivity The conclusion drawn through the interpretation of the results of data analysis should be based on facts of the findings derived from actual data, and not on our own subjective or emotionalvalues. Generalizability Refers to the scope of applicability of the research findings in one organizational setting to othersettings Parsimony Simplicity in explaining the phenomena or problems that occur, and in generating solutions for theproblem, And it can be introduced with a good understanding of the problem and the important factors that influenceit. THE HALLMARKS OF SCIENTIFIC RESEARCH3-3

16. 1) Lack of training. • 2) In sufficiant interaction between university research departments and business establishments. • 3) Reluctance on the part of business units to supply information • 4) Rivalries at university and departmental levels. • 5) Inadequate secretarial assistance to researchers. • 6) Unsatisfactory library facilities. • 7) Unavailability of data published by government. Problems in research

17. subjective study is that in which the likes and dislike,feelings and attitudes of the investigator influence the study while in objective study the investigator remains passive,he does not view the subject of his study or the social phenomena from his subjective point of view. Subjectivity and objectivity in research

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21. Improve agricultural cropproduction. • Kerala to begin research to develop Nipah drug -. • Improve the energy efficiency of homes, offices, or modes oftransportation. • To diagnose the very low use of a certain collection in alibrary. Examplesof AppliedResearch

22. How did the universebegin? • What are protons, neutrons, and electrons composedof? Examplesof BasicResearch

25. All other types of research are variations of one or more of the above stated approaches, based on either the purpose of research,or the time required to accomplish research,on the environment in which the research is done,or on the basis of some other similar factors. Some other types of research

26. Exploratory research is a preliminary study of a new problem about which the resea-rcher has little or no knowledge. Exploratory research is conducted into an issue or problem where there are few or no earlier studies to refer to. The results of these research are not usually useful for decision-making by themselves,but they can provide significant insight in to a given situation. Exploratory Research

27. Creative research includes the development of new theories ,new procedures ,new inventions etc. These research includes both practical and theoriticalresearch.practical creative research is about the design of physical things while theoretical creative research is about the creation of new models Creative research

28. The research which makes use of observations based on past events is known as research in historical approach. Historical research is therefore utilises the past events to arrive at conclusion of present. Historical research

29. This research is based purely on existing information. Studying a field and then analyzing and synthesizing all the points gathered on a particular subject, a researcher can develop new insights. EXPOSITORY RESEARCH

30. Overlapping of research studies Insufficient interaction lack of a code of conductfor researchers Question of Confidential ity Lack of a scientific training Lack of secretarial assistance Untimely availability ofdata 6/19/2013

31. There is paucity of competentresearchers • Many researchers take a leap in the darkwithout knowing researchmethods • Consequences: • Most ofthe work, which goes in the name of research is not methodologicallysound. • The research results, quite often, do not reflectthe reality orrealities. • Solution: • Efforts should be made to provide short-duration intensive courses to make researchers well equipped with all the methodologicalaspects. Lack of a scientifictraining 6/19/2013

32. A great deal of primary data of non-confidentialnature remain untouched/untreated by the researchers for want of propercontacts. • Solution: • Efforts should be made to develop satisfactory liaison among all concerned for better and realisticresearches. • Industry interactionprogramme Insufficientinteraction

33. Most of the business units in our country do not have the confidence that the material suppliedby them to researchers will notbe misused. • Consequences: • Reluctance in supplying the needed informationto researchers. • Solution: • Generate the confidence that the Information willbe confidential. Question ofConfidentiality

34. Research studies overlapping one anotherare undertaken quite often for want of adequate information. • Consequences: • Duplication • Solution: • Proper compilation and revision, at regularintervals Overlapping of researchstudies

35. There does not exist a code of conduct for researchers and inter-university and inter- departmental rivalries are also quitecommon. • Solution: • Develop a code of conduct forresearchers Lack of a code of conduct for researchers

36. Many researchers in our country also face the difficulty of adequate and timely secretarial assistance , including computerizedassistance. • Consequences: • Delay in the completion of researchstudies. • Solution: • University Grants Commission must play a dynamic role in providing secretarialassistance. Lack of secretarialassistance

37. Thereis alsothedifficultyoftimelyavailabilityofpublished data from various government and otheragencies. • published data vary quite significantly because ofdifferences in coverage by the concerningagencies. • Consequences: • The time and energy of researchers are spent intracing out the books, journals, reports,etc., • Solution: • Efforts should be made for the regular and speedy supplyof all governmental publications toreach our libraries. Untimely availabilityofdata

38.  What isTheory? “A formal, logical explanation of some events that includes predictions of how things relate toone another.” (Zikmund, 2010, p39)

39. “A theory is a good theory if it satisfies two requirements. It must accurately describe a large class of observations on the basis of a model that contains only a few arbitrary elements(based on chance rather than being planned). And it must make definite predictions about the result of future observations” (Source: Stephen Hawking, A Brief History of Time, 1988)  What is GoodTheory?

40. Theory is defined as a set of systematically interrelated concepts,definitions,and propositions that are advanced to explain and predict a phenomenon. For example, “the standard of living of a family is dependent on its income, size and lifestyle.” This is a theory which provides a basis for studying consumer behavior and formulating appropriate marketing strategies.

41. Theory building is a process of creativity and imagination.it demands careful indication on the importance and uniqueness of the phenomenon at hand,the questions explored,and the context of the research. the methods used for formulating theories are i) Deduction ii) Induction iii) retroduction Theory building

42. Deduction follows an approach which is “ top down” or from general to specific.In deduction we start from a theory and try to prove it right with the help of available information Aristotle,agreekphilosopher,described deduction as “drawing conclusions by applying rules and principles;logically moving from a general rule or principle to a specific solution” Eg; “All men are mortal”. “Rama is a man” . Therefore “Rama is mortal”. Here the first two statements (or propositions)are premises and the third is the conclusion. DEDUCTION

43. Theory Hypothesis Data Collection Findings Waterfall Hypotheses confirmed orrejected  The Process ofDeduction Revision oftheory (Bryman, 2006,p11)

44. The inductive method consists of studying several individual cases and drawing a generalization. This method involves moving from a specific situation to a general conclusion. This is a way of “theory building”, where by “specific facts are used to create a theory that explains relationships between the facts and allows prediction of future knowledge” Induction includes two process namely observation and generalization. INDUCTION

45. Abductive reasoning(also called abduction, abductiveinference,orretroduction) is a form of logical inference which starts with an observation or set of observations then seeks to find the simplest and most likely explanation. Eg 1) “ Jhon was in the building at the time of the murder.perhaps he is the killer,” or “the blood on the victim’s shirt matches jhon’s blood type. perhaps jhon is the killer . 2)The doctor hears her patients symp-toms,including the regular shortness of breath on cold days and when exercising and abduces that the best explanation of these symptions is that her patient is an asthma sufferer. Retroduction

46.  A prediction about the relationship between two or more variables.  Prediction is about what researcher expects to find inhis/her research.  Hypotheses are more specific thantheories.  A theory could have many differenthypotheses.  If the hypotheses offered by the theory are confirmed,the theory issupported.  If the hypotheses offered by the theory are rejected,the theory is not supported and should be re-evaluated through furtherresearch.

47. IndependentVariable: The presumed “cause” in thetheoretical • model. • Dependent Variable: The presumed “effect” in the theoreticalmodel. • Moderating Variable: Suspected or known to impact or influencethe • DependentVariable.

48. Example of TheoreticalModel IndependentVariables DependentVariables Perceived Usefulness Adoption of ITTools Perceived Ease ofUse Culture ModeratingVariables

49. Theory DrawConclusion Hill Climbing Test &Analyse FormHypotheses  The Process ofInduction Observations State theQuestion

50. I N D U C T I O N D E D U C T I O N Wheel ofScience Empirical Hypotheses Generalizations Theories Observations (Source: Adapted from Walter Wallace, The Logic of Science in Sociology,1971)