sybms sem iv

7/30/2019 Sybms Sem IV

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UNIT I:FUNDAMENTALS OFRESEARCH

SYBMS: SEM IVPAPER: RESEARCH METHODS IN

BUSINESS


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Definitions of Research

According to Clifford Woody researchcomprises defining and redefining problems,

formulating hypothesis or suggestedsolutions; collecting, organising and evaluatingdata; making deductions and reaching

conclusions; and at last carefully testing theconclusions to determine whether they fit theformulating hypothesis.


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D. Slesinger and M. Stephenson in theEncyclopedia of Social Sciences defineresearch as the manipulation of things,

concepts or symbols for the purpose ofgeneralising to extend, correct or verify

knowledge, whether that knowledge aids in

construction of theory or in the practice of an

art.


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Meaning of Research

An original contribution to the existing stockof knowledge making for its advancement

The pursuits of truth with the help of study,

observation, comparison and experimentThe search for knowledge through objectiveand systematic method of finding solution to

a problem


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The systematic method consisting of

enunciating the problem,

formulating a hypothesis,

collecting the facts or data,

analyzing the facts and

reaching certain conclusions either in the form

of solutions towards the concerned problemor in certain generalisations for sometheoretical formulation.


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OBJECTIVES OF RESEARCH

1. To gain familiarity with a phenomenon or toachieve new insights into it

2. To portray accurately the characteristics of a

particular individual, situation or a group3. To determine the frequency with which

something occurs or with which it is

associated with something else4. To test a hypothesis of a causal relationship

between variables


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Motives for Research

Desire to get a research degree along with itsconsequential benefits;

Desire to face the challenge in solving the unsolved

problems, i.e., concern over practical problemsinitiates research;

Desire to get intellectual joy of doing somecreative work;

Desire to be of service to society;

Desire to get respectability.


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Significance of Research

Helps remove doubt by conducting inquiry which leads toformation and establishment of new knowledge

Solves operational and planning problems by means ofoperations research, marketing research and motivation

research Helps social scientists in understanding the social

phenomena

Helps in the formation of government policies

Helps in understanding the problem or phenomenabetter

Makes predictions and suggest remedial measures

Facilitates establishment of scientific planning


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Essentials of a Good Research

Clearly defined goalsOutline of the research process

Plan of the research design

High ethical standardAnalysis of data

Systematic presentation of findings

Highlighting limitations

Justifying the conclusions

Reputation of research


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TYPES OF RESEARCH

Descriptive vs. AnalyticalDescriptive research-

Surveys and fact-finding enquiries of different kinds

Major purpose of descriptive research is description of the state of

affairs as it exists at present Also termed as the Ex post facto research

Researcher has no control over the variables, can only report what hashappened or what is happening

In analytical research- The researcher has to use facts or information already

available and analyze these to make a critical evaluation ofthe material


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Applied vs. Fundamental

Applied research aims at finding a solution for an immediate

problem facing a society or an industrial/business organisation Fundamental research is mainly concerned with

generalisations and with the formulation of a theory

Quantitative vs. Qualitative

Quantitative research

Based on the measurement of quantity or amount.

Applicable to phenomena that can be expressed in terms ofquantity

Qualitative research

Is concerned with qualitative phenomenon, i.e., phenomenarelating to or involving quality or kind


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Conceptual vs. Empirical

Conceptual research-

Related to some abstract idea or theory

Generally used by philosophers and thinkers to develop newconcepts or to reinterpret existing ones

Empirical research-

Relies on experience or observation alone, often without dueregard for system and theory

Data-based research, coming up with conclusions which arecapable of being verified by observation or experiment


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Some Other Types of Research One-time research

One-time research is confined to a single time-period Longitudinal research

Longitudinal research is carried on over several time-periods

Field-setting research

Deals with creation and collection of actual and authenticinformation by field of operation in any organization

The process involves determining what precise data isnecessary and from where this information needs to beobtained

After determining this information the data is actually

gathered.


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Laboratory research

Also called clinical research

A research in which the researcher seeks to controlconditions and variables to determine whether aclinical intervention produced the desired effects or ifother factors were responsible for the desired

effects.Simulation research

A research in which mathematical models are used to

recreate a situation, often repeatedly, so that thelikelihood of various outcomes can be moreaccurately estimated


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Exploratory research

A research in which hypothesis is developed ratherthan tested, whereas formalized.

Formalized research

Research with substantial structure and with specific

hypotheses to be tested

Historical research

Research which utilizes historical sources like

documents, remains, etc. to study events or ideas ofthe past, including the philosophy of persons andgroups at any remote point of time.


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Conclusion-oriented researchA researcher is free to pick up a problem, redesign

the enquiry as he proceeds and is prepared toconceptualize as he wishes

Decision-oriented research

Decision-oriented research is always for the need ofa decision maker and the researcher in this case is

not free to embark upon research according to hisown inclination

sybms sem iv

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