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    RM 1

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    The document discusses research methodology including the meaning and purpose of research, types of research such as descriptive and analytical, and differences between quantitative and qualitative research. It also covers the scope and advantages and disadvantages of business research.

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    RM 1

    Uploaded by

    kvadith7
    7 views16 pages
    The document discusses research methodology including the meaning and purpose of research, types of research such as descriptive and analytical, and differences between quantitative and qualitative research. It also covers the scope and advantages and disadvantages of business research.

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    Research methodology notes

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    The document discusses research methodology including the meaning and purpose of research, types of research such as descriptive and analytical, and differences between quantitative and qualitative research. It also covers the scope and advantages and disadvantages of business research.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views16 pages

    RM 1

    Uploaded by

    kvadith7
    The document discusses research methodology including the meaning and purpose of research, types of research such as descriptive and analytical, and differences between quantitative and qualitative research. It also covers the scope and advantages and disadvantages of business research.

    Copyright:

    © All Rights Reserved
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    RESEARCH METHODOLOGY

    Module 1
    Introduction to Business Research

    • Research: Meaning
    • Need and Purpose of Research
    • Scope of business research
    • Types of research
    • Research methods versus methodology
    • Research process
    • Research is a derivative of the French word;
    • “Researche” means quest, search, pursuit and search for truth.
    • Research refers to a search for knowledge.

    • It is a careful investigation or inquiry especially


    through search for new facts in any branch of
    knowledge.

    • It is systematized effort to gain new knowledge

    • Research is the systematic approach concerning


    generalization and the formulation of a theory.
    • “Research is a systematic and objective analysis and recording of controlled
    observations that may lead to the development of generalizations, principles,
    theories and concepts, resulting in prediction for seeing and possibly ultimate
    control of events” - John .W. Best

    • “Research is a systematized effort to gain new knowledge” - Redman and Mory


    Expands the
    knowledge
    base

    Encourages Gives latest


    curiosity information

    Helps with
    Understand
    problem-
    competition
    solving

    Introduces Builds
    new ideas credibility

    Narrow the
    scope
    Business Research
    • Business research is the systematic collection and analysis of data with the
    purpose of finding answers to problems facing management.

    • It can be carried out with the objective to explore, to describe or to diagnose a


    phenomenon

    • Business research can be used to solve a business-related problem, such as


    determining how to decrease the amount of excess inventory on hand.
    Scope of Business Research
    Advantages of Business research
    Understand
    Identify Identify problems customers and Risks and
    opportunities and and tackle issues communicate with uncertainties can be
    threats. appropriately. the customers or minimized.
    stakeholders.

    Plan financial Stay up-to-date with


    Track competition in
    outcomes and Decision making. the market and its
    the business sector.
    investments. trends.

    Measure reputation.
    Disadvantages of Business research
    High-cost

    The results become


    obsolete of the Based on
    fast-changing assumptions
    markets

    Inaccurate
    information
    (biased population Time-consuming
    or a small focus
    group).
    Types of Research

    Descriptive vs Applied Vs. Quantitative Vs Conceptual Vs


    Analytical Fundamental(Basic) Qualitative Empirical
    Descriptive vs Analytical Research

    Descriptive research includes surveys In analytical research the researcher


    and fact-finding enquiries of different has to use facts or information
    kinds. The purpose of descriptive already available, and analyze these
    research is description of the state of to make a critical evaluation of the
    affairs as it exists at present. material.
    Applied Vs. Fundamental(Basic) Research

    Fundamental research is concerned with


    generalizations and with the formulation of a
    Applied research aims at finding a solution for an
    theory. “Gathering knowledge for knowledge’s
    immediate problem facing a society or an
    sake is termed ‘pure’ or ‘basic’ research.” It is
    industrial/business organisation. The key aim of
    directed towards finding information that has a
    applied research is to discover a solution for
    broad base of applications and adds to the
    some pressing practical problems.
    already existing organized body of scientific
    knowledge.
    Quantitative vs. Qualitative 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.

    Qualitative research is based on qualitative phenomenon, i.e., phenomena relating


    to or involving quality or kind. Qualitative research is important in the behavioral
    sciences where the aim is to discover the underlying motives of human behavior.
    Conceptual vs. Empirical research

    Conceptual research is related to some abstract idea(s) or


    theory. It is generally used by philosophers and thinkers to
    develop new concepts or to reinterpret existing ones.

    Empirical research relies an experience or observation alone,


    often without due regard for system and theory. It is data based
    research, coming up with conclusions which are capable of
    being verified by observation or experiment.
    Basis of
    Research Methods Research Methodology
    Distinction

    The ways that define the primary goal and helps


    A proper theoretical and systematic analysis of
    to identify the topic or issue with deeper
    Definition the ways employed to the fixed topic discussed
    understanding through qualitative and
    within the program.
    quantitative research processes.

    Something and someway that a researcher uses


    The final way of solving a problem and
    Requirement to carry on their research irrespective of the
    efficiently completing all steps required.
    results.

    Acts as a instrument to monitor the behavior


    The science of managing and the
    Benefit and selection of processes along with their
    understanding of the problem.
    construction for conducting research.

    Conducting experiments, testing different The analysis of various techniques used for
    Types
    factors, carrying out surveys, etc. performance, testing and study management.
    Contributes to finding solutions and then Helps with the correct application of the
    Feature
    implementing them. procedure to get the solution.

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