module 1 brm

8/13/2019 Module 1 BRM

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He who asks is a fool for five minutes, but

he who does not ask remains a fool forever.Chinese Proverb

Research


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Business Research & Methods

Module 1


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INVENTION: Ice Cream Cone

INVENTOR: Charles E. Menches, U.S., and an

anonymous lady friend; Abe Doumar, U.S. YEAR: 1904

HOW INVENTED: Menches was an ice creamsalesman at the Louisiana PurchaseExposition, the great fair in St. Louis, Mo.

Whenever Menches visited a certain ladyfriend, he brought a bouquet of flowers. Onone occasion, for a super date, he broughtflowers and an ice cream sandwich. Becausehis lady friend lacked a vase for the flowers,she took one of the sandwich layers andcurled it into the form of a vase. Then sherolled the other layer to contain the icecream itself--and the ice cream cone wasborn.


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Research problem

I observed families riding ontwo-wheelers the fatherdriving the scooter, hisyoung kid standing in front of

him, his wife seated behindhim holding a little baby. Itled me to wonder whetherone could conceive of a

safe, affordable, all-weatherform of transport for such afamily," Tata said.


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Mukesh Ambani says

Ensuring betterreturns to Indianfarmers andmanufacturers and

greater value for theIndian consumer,both in quality andquantity, will be an

integral feature ofthis project.


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Syllabus

MODULE 1 (6 Hours) ResearchMeaning, types, criteria of good

research, marketing research, scientific

approach to research in physical andmanagement science, limitations of applying

scientific methods in business research

problems, ethical issues in business research.


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What is Business Research?

A systematic Inquirywhose objective is toprovide information tosolve managerial

problems. Search for knowledge

Systematized effort togain new knowledge-

Redman & Mory


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Research comprises of:

Defining problems

Formulating hypothesis

Collecting, organising, and evaluating data Reaching solutions and

At last testing the solutions to determine

whether they fit the formulated hypothesis


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Why Managers need Better Information?

Global and domestic competition is

more vigorous

Organizations are increasingly

practicing data mining and datawarehousing

Increase in the complexity & risk

More knowledge exists in every field Stake holders are better informed.

The power & ease of todays

computers to analyze the data


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Why Study Research?

1. Changes in business environment

2. Managers increased need for information

3. Explosive technology growth

4. Problems with mergers, trade policies, Savings &investment issues

5. Continuous innovations

Research provides you with the knowledge andskills needed for the fast-paced decision-makingenvironment


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Manager-Researcher Conflicts

Managements limited

exposure to research

Manager sees researcher as

threat to personal status Researcher has to consider

corporate culture and

political situations

Researchers isolation from

managers


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When Research Should be Avoided

1) When information cannot be applied to a

critical managerial decision

2) When managerial decision involves little risk

3) When management has insufficient

resources to conduct a study

4) When the cost of the study outweighs the

level of risk of the decision


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Research is done through two methods

Arbitrary method

Seeking answers to questions based onimagination, opinion, belief, or impression.

Ex. Earlier belief that Shape of the earth wasflat

Disadvantages

It is subjective Finding varies form person to person.

It is vague & inaccurate

Method 1


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Research is done through two methods

Scientific Method

Method yields same results when repeated

by different people.

Is a systematic step by step procedure

following the logical process of reasoning.

Encourages doubts & criticism so that what

emerges is the real evidence.

Method 2


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Steps in scientific methods

1. Observation

2. Formulation of hypothesis

3. Future predictions4. Testing the hypothesis

Ex. Researcher conducts a market

research for a client manufacturing

women's jeans pant & tops


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Advantages

1. Objective2. Precise & arrives at

conclusions on the

basis of verifiableevidences.

3. Method is free from

personal beliefs,attitudes & values.


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Basis of scientific method

Relies on empirical evidence ( data collectedthrough observation or experiment)

Use of relevant concepts

Commitment to objectivity

Ethical neutralityTrue & accurate statements Does not pass normative judgments( Good or

bad)

Generalization

Verifiability- Conclusions can be verified ExAtom originally was considered to be indivisible

Logical reasoning process -Based on reasoningprocess.


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Logical reasoning process

Consists of Induction & Deduction. Induction- draws conclusions from one or

more particular facts.

It is a process of reasoning where by we arriveat universal generalizations from particular

facts.

Studying individual cases & drawinggeneralizations

Ex. Test marketing of a new product


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Induction

It involves twoprocesses

1.Observation2.Generalisation

Ex. If it is observed thateducated girls haveexpensive habits onemay conclude that all

educated girls haveexpensive habits.


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Deduction

Is a form of inference that purports to be conclusive Is the process of drawing generalizations through a

process of reasoning on the basis of certainassumptions which are self evident or based on

observation. Deduction can give conclusive evidence.

Ex.1: Dr. Shekar is an adult.

All adults are eligible to vote. Dr Shekar is eligible to vote.

Ex.2:All products manufactured by TATA are good

Nano car will also be good


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Difference between Scientific method & Non-

scientific methods

Scientific method

1. More objective

2. Hypothesis can be

verified with the help

of statistical principles

3. More precise,

measurement &numerical analysis can

be done.

Non-scientific method

1. More subjective

2. Opinion differs from

person to person.

3. Measurement &

numerical analysis can

not be done


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Difficulties in applying Scientific method in

marketing

Role of Investigators

Marketer is expected to be objective in hisinvestigation.

He can manipulate the data which is acceptable to

clients Inaccuracy of measuring instruments

Information is qualitative Ex. Brand preference

Influence of measurement

Human beings responses, behavior undergoeschange.

Time pressure


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marketing

Scientist can measure the minute changes in the lab.& is sure of the accuracy of the measurement.

Market researcher has to deal with aspects like attitude ofconsumers, changes in their preferences & their impact on

the consumption of a given product.

The instrument of measurement is questionnairewhich is can not give high degree of precision.

Questionnaire is used by many interviewers

Information collected by them will have different degreesof accuracy.


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marketing

Scientific method is continuous & unending

processleading to the accumulation of

systematic knowledge.

Marketing research is problem solving &

problem oriented research.

Focus of investigation is narrow.

It is an exhaustive study.


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Difference between Research in Social

science & Physical science

Physical science

Is objective in nature

Complete documentationof data and methodologyavailable for carefulscrutiny by otherscientists andresearchers.

Experiments areconducted to quantify theresults

Social science

Social scientists usedifferent methods in orderto describe, explore and

understand social life.Subdivided into twobroad categories.

Quantitative methods

qualitative methods


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Characteristics of Researchi. Research is systematic, structured & critical investigation

into a phenomenon.ii. It is not a mere compilation but a purposive investigation

iii. It aims at describing interpreting & explaining aphenomenon.

iv. It adopts a scientific method.v. It is objective, logical, applies possible tests & arrives atconclusions

vi. It is based on observable experience or empirical evidence.

vii. Research is directed towards finding answers to pertinent

questionsviii. It emphasizes the development of generalisation,principles

or theories.


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Objectives of Research

1. To gain familiarity with a phenomenon or to achieve

new sights in to it

2. To determine the frequency with which some thing

occurs3. To test a hypothesis of a casual relationship

between the variables

4. To portray accurately the characteristics of a

particular individual , situation or a group.

5. To find answers to various types of questions why,

where, how, what


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Objectives of Research

6. Research unravels the mysteries of nature

7. Research establishes generalizations & general laws& principles.

6. Ex. Law of gravitation, law of demand, principlesof organisation

8. Aims at finding solutions to problems

9. Aims at developing theories, concepts & principles

10. Research aids planning & thus contributes tonational development


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Criteria for good research

The purpose shouldbe clearly defined.

The researchprocedure used

should be described indetail to permitanother researcher torepeat the research

for furtherdevelopment.


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Criteria for good research

Procedural design of the research should be carefully

planned to yield the results that are objective as for aspossible.

The researcher should report with complete frankness,

The analysis of the data should be sufficiently adequate

to reveal its significance. Researcher should be experienced & a person of

integrity.

Method of analysis should be appropriate.

The validity& reliability of data should be checked

carefully.

Conclusions should be confirmed to those justified by the

data of the research.


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Types of Research


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1.Applied research ( Action Research)

It aims at finding a solution for an immediateproblem facing a society or an organisation.

1. Teacher finds that most of the students are weak incomprehension

2. A teacher innovates a method to improve the abilityof the students.

3. Marketer studying the profitability of two or moreproducts.

4. Developing a new market for the product.


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2.Descriptive Research

It includes surveys & fact finding enquiries.

It is concerned with describing the state of affairsas it exists at present.

Ex. Trends in the consumption of soft drinkswith respect to socio-economic characteristicssuch as age, family, income education level,profession.

Employs any or all the methods of data collection. Ex, Questionnaire, Interview, observation


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3.Fundamental Research

Concerned with generalizations & with the

formulation of a theory.

Ex. Research concerning natural phenomenon or

relating to pure science, Human behaviour inorder to make generalizations.


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4. One time research & Longitudinal

research

Is a correlational research study that involves

repeated observations of the same variables

over long periods of time often many

decades.

Is a type of observational study.

Are often used in psychology to study

developmental trends across the life span, andin sociology to study life events throughout

lifetimes or generations.


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5.Exploratory research

This type of research is carried out at the

beginning when the problem is very vague.

To provide insights and understanding.

Ex. Sales decline


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6.Historical Research

It is that which utilizes historical sources like

documents, letters.

Autobiographies, monuments, remains,

paintings in order to establish facts & draw

conclusions concerning the past.

Ex. Investors in the share market study past

records or prices of shares


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7. Ex post Facto research

In social research, the Ex post Facto research

term is used.

He has no control over variables.

He can only report what has happened or

what is happening.

Ex. Preferences of people.


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8.Quantitative Research

Refers to the systematic empirical investigation

of social phenomena via statistical,

mathematical or computational techniques.

Objective of quantitative research is to

develop and employ mathematical

models, theories and/or hypotheses pertaining

to phenomena.


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10. Comparative Research

The research aims at comparing the institutions,practices, concepts, trends in economic variables.

Ex. Customer service in different banks

Model Building research

Mostly done in the field of management.

Model is constructed to show the relationshipamong many variables.

Ex. Advertising models, Consumer behaviourmodels


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11.Operations Research

The method of research to solve problems

using scientific methods & quantitative

techniques

Ex. Construction of flyovers


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12.Library Research

Conducted with the help of written materials

located in big libraries.

Concerned with the evolution of theories,

study involving cause & effect relationship &

seeking out significant facts & interpretation

of the past data.


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Significance of Research

All progress is born of enquiry. Doubt is betterthan overconfidence. For it leads to inquiry and

inquiry leads to invention.

Research inculcates inductive thinking and it

promotes development of logical thinking .

Several complex business problems can be solved

through research

It provides the basis for all govt. policies

Important for social scientists in studying the social

relationships and to seek answers for social

problems


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Significance of Research

Operational & planning problems ofbusiness & industry can be solved with the

help of research.

For students- A career Professionals- Source of livelihood

Literary men & womenDevelopment of

new styles & creative work.

Philosophers Analysts & intellectuals-

Generalization of new theories.


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thics


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What are Research Ethics?

Ethicsare norms or standards of behavior that

guide moral choices about our behavior and

our relationships with others

The goal is to ensure that no one is harmed or

suffers adverse consequences from research

activities


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Ethical Treatment of Participants

Rights of the participants should be protected. Guidelines to be followed by the Researcher

Begin data collection by explaining to the

participant the benefits expected from theresearch

Explain to the participants that their rights and

well-being will be adequately protected, and

say how this will be done

Be certain that interviewers obtain the

informed consent of the participant


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Deception

Deception occurs when the participant is toldonly part of the truth or when the truth is fully

compromised.

Two reasons for deception

To prevent biasing the participants before the

survey or experiment

To protect the confidentiality of a third party (

sponsor)

The benefits to be gained by deception should be

balanced against the risks to the participants.


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Issues Related to Protecting Participants

Obtain Informed consent from participants Debriefing- Explanation of deception,

Description of hypothesis, goal or purpose of

study to participants, post study sharing ofresults with the participants.

Right to Privacy/ConfidentialityGuarantee of

confidentiality must be given to the

participants.


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Ethical Issues related to the Client

Sponsor non-disclosure- Some clients wish to

undertake research with out revealing

themselves.

Purpose non-disclosure- Researcher has to

protect the purpose of the study.

Findings non-disclosure


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Right to Quality Research

This right entails

Providing a research design appropriate for the

research question.

Maximizing the sponsors value for the resourcesexpended.

Providing appropriate data handling and reporting

techniques for the data collected.


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Ethics Related to Sponsor

Sometimes researchers will be asked by sponsors to

participate in unethical behavior.

To avoid coercion by sponsor the researcher should:

Educate sponsor to the purpose of research Explain researchers role

Explain how distortion of the truth leads to future

problems If necessary, terminate relationship with sponsor


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Rights of the Respondents

Rights of the respondents Information collected for the MR should not be

misused for any other purpose.

Respondents should not be forced to answer aquestionnaire.

Information should be kept confidential.

Respondents should be given the opportunity tothink & answer the questions that are of personalnature.

It is the responsibility of the market researcher toaccurately reflect the respondents replies in hisreport.

Difference between Research methods &


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Difference between Research methods &

Research Methodology

Research methods refer to techniques that

are used for conducting research

Ex: Observation, Questionnaires, interviews, Analysis

of historical records, Case studies

Research methodology is a way to

systematically solve the research problem.


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Research Methodology

It is a way to systematically solve the researchproblem.

It is a science of studying how research is donescientifically ( step by step)

Researcher needs to know not only the methods &techniques but also as to how to use relevantmethod at the appropriate time

Ex researcher in designing a building

Research methodology has many dimensions &methods only constitute a part of the researchmethodology.


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End

Thank You

module 1 brm

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