types of business research methods

6/19/2013 1 BRM-Types Of Research (


•Research is defined as a scientific and systematic search for relevant information on a specific topic involving a systematized effort to gain new knowledge. •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.


Descriptive vs.

Analytical

Applied vs.

Fundamental

Quantitative vs.

Qualitative

Conceptual vs.

Empirical

DESCRIPTIVE ANALYTICAL •Descriptive research includes surveys and fact-finding enquiries of different kinds. •The major purpose of descriptive research is description of the state of affairs as it exists at present. •The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening. •Example 1: Examining the fluctuations of U. S. international trade balance during 1974-1995. •2.Starting from late 1986, the value of U.S. dollar value has steadily increased against the Japanese yen and German Mark. Examining the magnitude of this trend in the value of U.S. dollar is another example of descriptive research;

•In analytical research, on the other hand, the researcher has to use facts or information already available, and analyze these to make a critical evaluation of the material. •Analytical research attempts to explain why and how. It usually concerns itself with cause–effect relationships among variables. •Example1:Explaining why and how U.S. trade balance move in a particular way over time. •2. While explaining how and why this surge in the value of U.S. dollar is going to affect the U.S. Is analytical research.


APPLIED FUNDAMENTAL •Applied research aims at finding a solution for an immediate problem facing a society or an industrial/business organisation. •The central aim of applied research is to discover a solution for some pressing practical problem. •Examples: Research aimed at certain conclusions (say, a solution) facing a concrete social or business. Research to identify social, economic or political trends that may affect a particular institution or marketing research or evaluation research are examples of applied research.

•Fundamental research is mainly concerned with. generalisations and with the formulation of a theory •Basic research is directed towards finding information that has a broad base of applications and thus, adds to the already existing organized body of scientific knowledge. •Examples: Research concerning some natural phenomenon, human behaviour carried on with a view to make generalisations about human behaviour


QUALITATIVE RESEARCH QUANTITATIVE RESEARCH

•Qualitative research is concerned with qualitative phenomenon, i.e., phenomena relating to or involving quality or kind. •Qualitative research is specially important in the behavioural sciences where the aim is to discover the underlying motives of human behaviour. •This type of research aims at discovering the underlying motives and desires, using in depth interviews for the purpose. •For instance, when we are interested in Investigating the reasons for human behaviour, we quite often talk of ‘Motivation Research’

•Quantitative research is based on the measurement of quantity or amount. •It is applicable to phenomena that can be expressed in terms of quantity. •It usually involves collecting and converting data into numerical form so that statistical calculations can be made and conclusions drawn. •Example- Total sales of soap industry in terms of rupees cores and or quantity in terms of lakhs tones for particular year, say 2008,could be researched, compared with past 5 years and then projection for 2009 could be made. 6/19/2013 6 BRM-Types Of Research (

CONCEPTUAL RESEARCH EMPIRICAL RESEARCH

1. Research related to some abstract idea or theory generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones.

2. The researcher breaks down a theorem or concept into its constituent parts to gain a better & deeper understanding of the issue concerning the theorem. Conceptual research is a useful method but should be used in conjunction with other methods to produce better & understandable results.

1. Research done on experience or observation alone, without due regard for system and theory. It is also called Experimental research as the conclusions can be verified by observation or experiment.

2. The researcher provides himself with a working hypothesis to get the probable results. Facts are found to prove or disprove the hypothesis after which experimental designs are made to bring forth the desired information.


Lack of a scientific training

Insufficient interaction

Question of Confidential

ity

Untimely availability

of data

Lack of secretarial assistance

lack of a code of

conduct for researchers

Overlapping of research

studies


Lack of a scientific training • There is paucity of competent researchers

• Many researchers take a leap in the dark without knowing research methods

Consequences:

• Most of the work, which goes in the name of research is not methodologically sound.

• The research results, quite often, do not reflect the reality or realities.

Solution:

• Efforts should be made to provide short-duration intensive courses to make researchers well equipped

with all the methodological aspects. 6/19/2013 9 BRM-Types Of Research (

Insufficient interaction

• A great deal of primary data of non-confidential nature remain untouched/untreated by the researchers for want of proper contacts.

Solution:

• Efforts should be made to develop satisfactory liaison among all concerned for better and realistic researches.

• Industry interaction programme


Question of Confidentiality

• Most of the business units in our country do not have the confidence that the material supplied by them to researchers will not be misused.

Consequences:

• Reluctance in supplying the needed information to researchers.

Solution:

• Generate the confidence that the Information will be confidential.


Overlapping of research studies

• Research studies overlapping one another are undertaken quite often for want of adequate information.

Consequences:

• Duplication

Solution:

• Proper compilation and revision, at regular intervals


Lack of a code of conduct for researchers

• There does not exist a code of conduct for researchers and inter-university and inter-departmental rivalries are also quite common.

Solution:

• Develop a code of conduct for researchers


Lack of secretarial assistance

• Many researchers in our country also face the difficulty of adequate and timely secretarial assistance , including computerized assistance.

Consequences:

• Delay in the completion of research studies.

Solution:

• University Grants Commission must play a dynamic role in providing secretarial assistance.


• There is also the difficulty of timely availability of published data from various government and other agencies.

• published data vary quite significantly because of differences in coverage by the concerning agencies.

Consequences:

• The time and energy of researchers are spent in tracing out the books, journals, reports, etc.,

Solution:

• Efforts should be made for the regular and speedy supply of all governmental publications to reach our libraries.

Untimely available of data


PRESENTED BY

GROUP NO: 7 Utkarsh Garg - 121 Sangam Lalsivaraju- 138 Sugandha Arora 140 Dhruv Mahajan -141 Nitish Dubey -177


types of business research methods

Business