rmm unit 1-1
TRANSCRIPT
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Research Methods for ManagersResearch Methods for Managers
Prof. George MathewProf. George MathewB.Sc., B.Tech, PGDCA, PGDM, MBAB.Sc., B.Tech, PGDCA, PGDM, MBA
Phone: 9447798852Phone: 9447798852Email: [email protected]: [email protected]
ALLAMA IQBAL INSTITUTE OFALLAMA IQBAL INSTITUTE OF
MANAGEMENTMANAGEMENTTRIVANDRUMTRIVANDRUM
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Business Research
Introduction to business research
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1.1What is research?
Research is the process of finding
solutions to a problem after athorough study and analysis ofthe situational factors.
1 Introduction to Research
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1.2.What is business research?
Business Research is definedas the systematic and objective
process of gathering, recordingand analyzing data for aid inmaking business decisions
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What is business research?
Research provides the neededinformation that guides managers to
make informed decisions to successfullydeal with problems.
The information provided could be theresult of a careful analysis of data
gathered firsthand or of data that arealready available (in the company).
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Basic Research and Applied
Research.
1.Applied research
Research undertaken to answer
questions about specific problems orto make decisions about a particularcourse of action or policy decisions.
It is to solve a current problem facedby the manager in the work setting,demanding a timely solution
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2.Basic research (fundamental, pure)Basic or pure research is theresearch that is intended to expand
the boundaries of knowledge itselfor to verify the acceptability of apure theory.
It is to generate a body of knowledge by trying tocomprehend how certain problems that occur inorganizations can be solved.
The findings of such research contribute to thebuilding of knowledge in the various functionalareas of business.
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Research Process
1. Formulating a Research Problem
2. Conceptualization of Research Design
3. Constructing an instrument for data
Collection
4. Selecting a Sample
5. Writing a research Proposal
6. Collecting Data7. Processing Data
8. Writing a research report
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Formulating a
Research
Problem
Conceptualization
of Research
Design
Constructing an
instrument
for data
Collection
Selecting a
Sample
Writing a
research
Proposal
Collecting Data Processing Data
Writing a
researchreport
Research Process
Step 1Step 4Step 2
Step 8Step 7Step 6
Step 5
Step 3
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Research and Managers
Business Research helps managers indecision making by providing both processand tools needed to reduce risk.
Business Research is a systematic inquirythat provides information to guidemanagerial decisions.
It is a process of planning, acquiring, analyzing,and disseminating relevant data, information, andinsight to decision makers in ways that mobilizethe organization to take appropriate actions that,in turn, maximize business performance.
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Research and Managers
Students preparing to manage any function, need trainingin a disciplined process for conduction an inquiry of amanagement dilemma, the problem or opportunity that
requires a management decision. Some of the factors
which stimulate management research methods : Explosive growth and influence of internet
Stakeholders demanding greater influence
More vigorous competition
More government intervention More complex decisions
Maturing of management as a group ofdisciplines
Greater computing power and speed
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Planning Drives Business Research
Understanding the relationship betweenbusiness research and other information iscritical for managerial decision making related
to organizational mission, goals, strategies,and tactics.
A Business Intelligence System(BIS) isdesigned to provide manger with ongoinginformation about events and trends in thetechnological, economic, political and legal,demographic, cultural, social, and, competitivearenas. Such information is complied from avariet of sources.
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Business Researchers
Internal Research Department
Consumer goods and services
Producers Industrial goods and services
Producers
Media CompaniesWholesale distributers
Retail Distributers
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Internal Research Suppliers
Due to limitation of budget, equipment,facilities, and expertise reasons, the trend inindustry is not to staff large internal
research departments.
In poor economic times, many firmseliminate their internal research operations
as such services are expendable or arereadily available from external suppliers.
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External Research Suppliers
Full-Service ResearchFirms
Custom Researchers
Proprietary MethodologyResearchers
1. Business Research Firms Specialist Research Firms
Methodology Specialists
Other Specialists
Syndicated Data Providers
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External Research suppliers
2.Communication
Agencies
Advertising
agencies Public Relations
Agencies
Sales PromotionAgencies
Direct MarketingAgencies
3.Consultants
Marketing
Consultants
GeneralBusinessConsultants
4. Trade
Associates
General
Business
Business
Specialist
ResearchSpecialists
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Research Firms
Full service researchers include some of
the largest research firms in the world and
some of the smallest.
Full service firms are often involved inresearch planning for their clients from the
moment of discovery of the management
dilemma.
Custom Researcher crafts a research
design unique to the decision makers
dilemma.
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Custom Researchers
Ad-hoc research orcustom-designedresearch are often used to describecustom full-service research firms. A
custom researcher crafts a researchdesign unique to the decision makersdilemma.
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Proprietary Methodology Researchers
Proprietary Methodology is a research program ortechnique that is owned by a single firm.
Specialist Research Firms
They establishes a specialty in one or severaldifferent arenas such as:
Methodology,
Process,Industry,
Participant group, or
Geographic region
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Research Consultants
Business Consultants offer a wide range of
services at the strategic and tactical levels. All
are involved in doing extensive secondary data
research for their clients.
They are major influencers in research design, of
both custom research and the selection of
prosperity models. They are also involved in
interpretation of results. Consultants conducts both qualitative (eg. Focus
groups and expert interviews) and quantitative
studies (usually through surveys) on knowledge,
attitudes, opinions, and motivations.
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Trade Associates
Trade Associates have their purpose to promote,
educate, and lobby for the interests of their
members. They are in the following categories:
General Business
Business Specialist
Research Specialists
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Characteristics of a Good Research
1. Purpose Clearly defined
2. Research Process Detailed
3. Research design thoroughly planned
4. High Ethical Standards Applied
5. Limitations Frankly Revealed
6. Analysis adequate for decision makers
needs7. Findings presented unambiguously
8. Conclusions Justified
9.
Researchers Experience Reflected
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Types of Business Research
1.Exploratory Research
2.Descriptive Research
3.Causal Research
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Exploratory Research
Exploratory Research is theresearch conducted to clarify anddefine the nature of the problem.Usually, exploratory research isconducted with the expectation thatsubsequent research will be required to
provide conclusive evidenceEg. Study of employees need for childcare, conducted among small number ofemployees which leads to further studies.
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Descriptive Research
Descriptive Research is the researchdesigned to describe characteristics of apopulation or phenomenon.Descriptive Research seeks to determine the answer towho, what, when, where, and how questions.
Descriptive Research often helps segment andtarget markets. Accuracy is of paramount importance
in descriptive research.
Eg. Study of characteristics of consumers whopurchase organic food products
Diagnostic analysis is used to clarify research findings,such as explanations respondents give for behavior or
attitude.
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Causal Research
Causal Research is the research
conducted to Identify cause and effect
relationships among variables when the
research problem has already been
narrowly defined.
Casual Research attempts to establish
that when we do one thing, another thingwill follow.
Eg. Training and productivity
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Stages of Business Research
1. Identifying problems or
opportunities
2. Diagnosing, and assessingproblems or opportunities
3. Selecting and implementing a
course of action
4. Evaluation a course of Action
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Why is it important for managers to knowabout research?
Solve problems
Decision making tool
CompetitionRisk
Investment
Hire researchers and consultantsmore effectively
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Major Topics for research in
Business
1. General Business Conditions and
Corporate Research
2.Financial and Accounting Research
3. Management and Organizational
Behavior Research
4. Sales and Marketing Research
5. Information System Research
6. Corporate Responsibility Research
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Business Research in the 21st century
Two Major trends in Business
1. Increased Globalization
2. Rapid Growth of Internet and
Information Technology
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Research and Scientific Method
Scientific method, as practiced in businessresearch, guides our approach to problem solving.The essential tenets of scientific method are:
Direct observation of phenomena Clearly defined variables, method, and procedures
Empirically testable Hypothesis
The ability to rule out rival hypothesis
Statistical rather than linguistic justification ofconclusions
The self correcting process
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Research and Scientific Method
Empirical testing means to denote observationsand prepositions based on sensory experienceand/or derived from such experience by methods of
inductive logic, including mathematics and statistics.Researchers using this approach attempt todescribe, explain, and make predictions by relying oninformation gained through observation.
Argument allows us to explain, interpret, defend,challenge, and explore meaning.
Two types of argument of great importance toresearch are deduction and induction
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Deduction
Deduction is a form of argument that purports tobe conclusive - the conclusion must necessarilyfollow from reasons given. The reasons are said
to imply the conclusion and represent a proof.For a deduction to be correct, it must be bothtrue and valid.
Premise (reasons) given for the conclusion mustagree with the real world (true).
The conclusion must necessarily follow from thepremises.
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Deduction
A Deduction is valid if it is impossiblefor the conclusion to be false if the
premise are true.Conclusion is not logically justified if
one or more premises are untrue or
the argument form is invalid.
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Induction
In Induction, conclusions is drawnfrom one or more particular facts. The
conclusion explains the facts and thefacts support the conclusion.
The inductive conclusion is an inferential jump
beyond the evidence presented.
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Induction
Example:
A firm spends $1 million on a regionalpromotional campaign and sales do not
increase. The conclusion may be that thepromotional campaign was poorly executed.
But other reasons also may fit the fact.
It can be lack of stock with retailers A strike by employees during that period that
prevented stock reaching the retailers duringthe promotional activities, etc.
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Scientific Investigation
1 Observation
2 Identification of problem area
3 Theoretical framework4 Hypotheses
5 Research design
6 Data collection7 Data analysis
8 Data interpretation
9 Implementation
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The seven-step process in theHypothetico-Deductive method
1 Observation 2Problem identification
preliminary information gathering 3 Theoretical framework
theory formulation 4 Hypothesizing
5 Research design further scientific data collection
6 logical analysis
7 Deduction
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The seven-step process
problem statement is a clear, precise, and succinctstatement of the question or issue that is to beinvestigated with the goal of finding an answer orsolution.
Theoretical framework is the foundation on whichthe entire research project is based.It is logicallydeveloped,described,and elaborated network ofassociations among the variables relevant to theproblem situation.
A hypothesis is a tentative statement that proposes apossible explanation to some phenomenon or event.A useful hypothesis is a testable statement whichmay include a prediction. A hypotheses should notbe confused with a theory.
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The seven-step process
Data analysis: the data gathered are statisticallyanalyzed to see if the hypotheses that weregenerated have been supported.
Measurement is the process observing andrecording the observations that are collectedas part of a research effort.
Deduction is the process of arriving atconclusions by interpreting the meaning of the dataanalysis results.
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Problem Formulation
"Well begun is half done" --Aristotle,quoting an old proverb
Where do research topics come from? The idea for a research project?
one of the most common sources of researchideas is the experience ofpractical
problems in the field? The Literature Review
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Levels of Measurement
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The Research Cycle
The Research Cycle
QUESTIONING
PLANNING
GATHERING SORTING & SIFTING
SYNTHESIZING
EVALUATING
REPORTING*
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Information needs in business
Almost every organization has to engage inresearch at some level to stay competitive.
Companies gather data both from within and
outside the organization. The methods used to gather,analyze,and
synthesize information from the externalandinternal environments are becoming increasingly
sophisticated to the immense scope ofcomputertechnology.
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The research process
1 Observation 2 Data gathering
3 Problem definition
4 Theoretical framework (variables identified) 5Hypotheses
6 Research design 7Data collection,analysis,interpretation
8 Deduction
9 Report writing
10 Report presentation 11 Managerial decision making
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Research design
Purpose of the study:
Exploratory study Is undertaken when no information is available on how similar
problems or research issues have been solved in the past
Descriptive study Is to able to describe the characteristics of the variables of
interest in a situation.
Hypotheses testing Is undertaken to explain the variance in the dependent variable
or to predict organizational outcomes.
Case studies
Research design can be thought of as the structure ofresearch --it is the "glue" that holds all of the elements in aresearch project together
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Measurement
The rating scale
Have several response catagories
Likert scale is designed o exermine how
strongly subject agree or disagree withstatements on a 5-point scale
Ranking scale
Are used to tap preferences between two ormore objects or items
Goodness of measure: reliability,validity
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Data collection methods
Data can be collected in a variety ways ,datasources can be primary or secondary.
Data collection methods such as:
interview(face-to-face,telephone,computer-assisted interviews),
Questionaires
Observation Motivational techniques
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Sampling
A sample is a subset of the population.
Sample is the process of selecting a sufficientnumber of elements from the population.
Studying a sample rather the entire population is
sometimes to lead to more reliable results, mostlybecause fatigue is reduced,resulting in fewer errorson collection data. (time, cost,human resources)
Surveys are useful and powerful in finding answers toresearch question but if data are not collected fromthe people or objects that can provide the correctanswersto solve the problem, the survey will be invain.
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Data Analysis and Interpretation
The data analysis involves three major steps, done inroughly this order:
Cleaning and organizing the data for analysis (Data
Preparation) Describing the data (Descriptive Statistics)
Testing Hypotheses and Models (Inferential
Statistics)
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Descriptive Statistics
Descriptive statistics provide simple summaries about the sample and the measures. Central Tendency. The central tendency of a distribution is an estimate of
the "center" of a distribution of values. There are three major types ofestimates of central tendency: Mean is the most common-used measure of data tendency.=average. Median is the middle value , when the data is arranged in numerical order. Mode is the value ( number) that appears the most. Dispersion(Range, Standard Diviation)refers to the spread of the values
around the central tendency
Inferential statistics t-test, Analysis of Variance (ANOVA), Analysis of Covariance (ANCOVA),
regression analysis,
Correlation is a measure ofthe relation between two ormore variables.
we use inferential statistics to make judgments of the probability that anobserved difference between groups. Thus, we use inferential statistics tomake inferences from our data to more general conditions;
we use descriptive statistics simply to describe what's going on in our data.
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Statistics methods
Central tendency
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The Research Report
Researh proposal
Research report
Research presentation
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Research report articles vary in how they areorganized, :
Abstract -Brief summary of the contents of the article
Introduction - A explanation of the purpose of the study, a statement of theresearch question(s) the study intends to address
Literature review -A critical assessment of the work done so far on this
topic, to show how the current study relates to what has already been done Methods - How the study was carried out (e.g. instruments or equipment,
procedures, methods to gather and analyze data) Results -What was found in the course of the study Discussion - What do the results mean Conclusion -State the conclusions and implications of the results, and
discuss how it relates to the work reviewed in the literature review; also,
point to directions for further work in the area
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ResearchProposal
Title Page Abstract(on a separate single page)
The Body (no page breaks between sections in the body) Introduction(2-3 pages) Methods (7-10pages)
Sample(1 page)
Measures (2-3pages) Design(2-3 pages) Procedures (2-3pages)
Results(2-3 pages) Conclusions (1-2pages)
References
Tables (one to a page)
Figures(one to a page) Appendices
Sample Paper http://www.socialresearchmethods.net/kb/sampaper.php http://www.socialresearchmethods.net/kb/guideelements.php Formattinghttp://www.socialresearchmethods.net/kb/formatting.php
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Question?
How can you solve business problem? Why do you need to know how to write the research
proposal? Do you understand the research process?
Do you know why do you have to identify problemstatement clearly before doing research?
Do you know why sampling and statistics areimportant to the research result?
Why do you have to identify the limitation of your
study?
Why the research report and presentation areimportant?
Do you know how to apply the steps of the researchprocess ?
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Questions
1.If you want to set up a coffee shop nearthe university and school, what is your
research topic?
2.Identify the problem statement. 3.Identify the objectives
4.The hypotheses
5. The research methodology. 6. The examples of the questionaire