research methodology - module i
TRANSCRIPT
Research Methodology
Module IIntroduction to Business Research
Amish Soni
Introduction to Business Research
1. Nature and Scope of Business Research.
2. Information Based Decision Making and Source of Knowledge.
3. The Research Process. Defining Research Problem and Framing Hypot
hesis.
4. Preparing a Research Plan.
Nature and Scope of Business Research
Introduction Meaning of Research and Objectives What is Good Research? Why Study Business Research? Types of Research
Introduction
Investigation using scientific procedures, by searching again and again to find out the truth
Research is the continual search for truth using the scientific method. It is the pursuit of the truth with the help of study, investigation, observation, comparison and/or experimentation.
What makes people to undertake research?
Desire to get a research degree along with its consequential benefits
Desire to face the challenge in solving the unsolved problems. Ex. Concern over practical problems initiates research.
Desire to get intellectual joy of doing some creative work.
Desire to be of service to society Desire to get respectability.
Research as Career
Rewarding and satisfying career Opportunities for life-long growth Exciting fields for innovation Global career opportunities Main reward in doing
What it Takes?
Creativity Open mind Curiosity Patience Persistence Positive Attitude Discipline and focus
What is Research?
Research is a scientific and systematic search for pertinent information on a specific topic.
It is a careful investigation or enquiry specially through search for knowledge.
It is a movement from known to unknown.
Objectives of Research
The Objective of research is to find out the answers to questions through the application of systematic and scientific way.
Specific purpose behind each research study,
To obtain familiarity of a phenomenon. To determine the association or independence of an
activity. To determine the characteristics of an individual or a
group of activities and the frequency of its occurrence.
Features of a Good Research Study
Objectivity Control Generalisability Free from Personal Biases Systematic Reproducible
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Hence, the following points must be ensured
Clearly defined purposeClearly defined purpose
Detailed research processDetailed research process
Thoroughly planned designThoroughly planned design
High ethical standardsHigh ethical standards
Limitations addressedLimitations addressed
Adequate analysisAdequate analysis
Unambiguous presentationUnambiguous presentation
Conclusions justifiedConclusions justified
CredentialsCredentials
Business Research
A process of planning, acquiring, analyzing, and disseminating relevant business data, information, and insight to decision makers in ways that mobilize the organization to take appropriate action that, in turn, maximize business performance.
It is a systematic inquiry that provides information to guide managerial decisions.
Why Study Business Research?
Complex DecisionsComplex Decisions
Stakeholder Influence
Stakeholder Influence
CompetitionCompetition
FactorsFactors
Growth of Internet
Growth of Internet
Business as a discipline
Business as a discipline
Government InterventionGovernment Intervention
Greater Computing
Power
Greater Computing
Power
New Research Perspectives
New Research Perspectives
Types of Research Studies
Fundamental Research Applied Research Descriptive research Historical Research Formulative or Exploratory Research Experimental Research Ex-Post-Facto Research Case Study Approach
Significance of Research
Research Provides the basis for nearly all government policies in our economic system
It solves various operational and planning problems of business industry
It is important for social scientists in studying social relationships and in seeking answers to various social problem.
Information Based Decision Making and Source of Knowledge
Emerging Hierarchy of Information - Based Decision Makers
How the Research Industry Works? Role of Research Methods/Research Methodology i
n Business/ Industry Current Status of Research in India Limitation of Research
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Exhibit 1-2 Hierarchy of Business Decision Makers
Visionaries
Standardized Decision Makers
Intuitive Decision Makers
Intuitive Decision Makers
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Exhibit 1-2 Hierarchy of Business Decision Makers
Visionaries
Intuitive Decision Makers
Standardized Decision Makers
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Exhibit 1-2 Hierarchy of Business Decision Makers
Visionaries
Intuitive Decision Makers
Standardized Decision Makers
Visionaries
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Exhibit 1-4 Who Conducts Business Research?
Internal External
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Exhibit 1-4Business Research Suppliers
External Research Suppliers
Business Research Firms
Communication Agencies
Consultants
Trade Associations
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Business Research FirmsBusiness Research Firms
Full Service Specialists
Custom
Proprietary
Methods
Syndicated Data
Other
Full Service
Full-service researchers include some of the largest research firms, and some of the smallest.
These firms are often involved in research planning from the moment of discovery of a dilemma or from the definition of a management question.
Such firms often have expertise in both quantitative and qualitative methodologies, as well as multifaceted facilities.
Some are capable of working in worldwide venues, while others are limited to one industry or geographic region.
These firms are often a combination of research and consulting operations.
Some of the World’s Largest Research Companies
Organization Research Revenues, 2003 ($ millions)
VNU Inc. $3,045.00 www.vnu.com IMS Health Inc. $1,381.80 www.imshealth.com Tylor Nelson Sofres USA $1,290.10 www.tnsofres.com The Kantar Group $1,002.10 www.kantargroup.com
Custom Researchers
Often described with phrases like “ad hoc research” or “custom-designed research”
A custom researcher crafts a research design unique to the decision maker’s dilemma. In other words, each project starts from ground zero.
What is implied is that such firms do not assume that a given methodology is appropriate for each client’s research.
Although a custom researcher may not always be a full-service research firm, a full-service researcher would always fit into the custom research category.
Proprietary Methodology Researchers
A proprietary methodology is a research program or technique that is owned by a single firm.
It may be a new method developed by the firm, or a twist on an established methodology.
Firms often brand these methodologies to distinguish themselves from the competition. (ACNielsen did this with its Home scan syndicated panel.)
The Gallup Organization reinvented itself using the proprietary research model, moving from public opinion pollster and custom researcher to research-based consulting firm.
One of its proprietary methodologies is called Q12.
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Specialty Business Research Firms
Methodology
Process
Industry
Participant group
Geographic Region
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Exhibit 1-6 Some Syndicated Data Providers
AC Nielsen Scarborough Millward Brown Nielsen Media Research Roper ASW CSA TMO Yahoo! ORC International
DoubleClick Nielsen/NetRatings Taylor Nelson Sofres
Intersearch J.D. Power Associates MediaMark Simmon (SMRB) BRMB Information Resources Inc.
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Communication Agencies
Direct Business
Public Relations
AdvertisingSales Promotion
Top Advertising Companies of India:
McCann-Erickson India Ltd: Mudra Communication Pvt. Ltd: J Walter Thompson India: Ogilvy and Mather: Leo Burnett India Pvt. Ltd :
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Consultants and Trade Associations
Consultants Business General Business
Trade Associations General business Business specialties Research specialties
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Exhibit 1-4 Who Conducts Research?
Role of Research Methods/Research Methodology in Business/ Industry
Research Methods are the methods or techniques employed by researchers in conducting research operations.
Research Methodology is a scientific and systematic way to solve research problems.
Marketing Research Government Policies and Economic System Solving Various Operational and Planning Problems of
Business and Industry Social Relationships
Limitations of Research
Doesn’t provide actionable results Some problems just cannot be researched Only provide a set of guidelines Do not include research in the overall problem or
total decision making. Rely more on intuition and judgment
Research Process
Steps in Research Process Research Process Issues Defining Research Problem and Hypothesis
Defining the Research Problem Formulation of the Problem Research Question Management-Research Question Hierarchy Concept and Formulation of Hypothesis
Steps in Research Process
Defining the research problem and reviewing the literature
Formulation of hypothesis Research design Collecting data Analyzing data and testing hypothesis Preparation of report and preliminary analysis Interpreting the reporting the findings
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Research Process Issues
The Favored-Technique Syndrome
Company Database Strip-Mining
Unresearchable Questions Ill-Defined Management
Problems Politically Motivated
Research
Defining the Research Problem
A problem properly defined is half solved. It could be any of the following three areas:
Exploratory: gather preliminary information for defining the problem and suggesting hypothesis.
Descriptive: Describe things i.e. market potential, demography and attitude of customer.
Casual: test hypothesis about cause and effect relationships
Formulation of the Problem
Steps involved in defining a problem are: Statement of the problem in a general way Understanding the nature of the problem Surveying the available literature Developing the idea through discussion Rephrasing the research problem into working
proposition
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The Research Question
Determine necessary evidence
Determine necessary evidence
Set scope of study
Set scope of study
Examine variables
Examine variables
Break questions
down
Break questions
down
Evaluate hypotheses
Evaluate hypotheses
Fine-TuningFine-Tuning
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Exhibit 3-2 Management-Research Question Hierarchy
Formulation of Hypothesis
Concept of Hypothesis
A hypothesis is a proposition – a tentative assumption which a researcher wants to test for its logical or empirical consequences.
Hypothesis are more useful when stated in precise and necessary, specially in case of exploratory researches.
However, in problem oriented research, it is necessary to formulate a hypothesis or hypotheses.
Hypothesis Testing
Steps involved in testing a hypothesis:
1. Formulate a hypothesis
2. Set up a suitable significance level
3. Choosing a test criterion
4. Compute the statistic
5. Make decision
Preparing Research Plan
The Research Proposal Process Types of Research Proposal Structuring the Research Proposal The Research Proposal for MindWriter
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Types of Research Proposal
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Structuring the Research Proposal
Executive Summary Problem Statement Research Objectives Literature Review Importance/ Benefits of
Study Research Design Data Analysis Nature/Form
Research Qualifications
Budget Schedule Facilities Project Management Bibliography Appendices
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Researcher Qualifications
Relevant ManagementExperience
Professional Research
Competence
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Exhibit 4-6 Sample Proposed Budget
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Budgeting for Samples
Scientific Telephone Samples (STS) provides random dial, listed, and business samples for telephone and online surveys
Exhibit 4-7 CPM Schedule
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Exhibit 3-6 Gantt Chart
MindWriter Project Plan
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Elements of a Project Management Plan
Financial/ Legal
responsibility
Financial/ Legal
responsibility
Team relationship with client
Team relationship with client
Procedures Procedures
Organization of research team
Organization of research team
Managementcompetence
Managementcompetence
Examples ofpast work
Examples ofpast work
Plan Elements
Plan Elements
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The Research Proposal for MindWriter
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