Management Research

Methods
Unit-1
Introduction
Reference Books
Business Research
Methods
S.N. Murthy & U. Bhojanna
Research Methodology
C.R. Kothari
 Research – Text & Cases
Malhotra
Data- Information-Knowledge
Information
Reduces
Uncertainty

"The secret of success is to know something

nobody else knows. "
- Aristotle Onassis
Research
Research refers to a search for
knowledge
Its an art of scientific investigation
 Literally, research (re-search) –
“search again”
Management Research
Management research is defined as the systematic
and objective process of generating information for
aid in making business decisions.
It facilitates the managerial decision
process for all aspects of a business.
A systematic Inquiry whose objective is to
provide information to solve managerial
problems.
When is Management Research Used?
Typically, business research methods are
used in situations of uncertainty, that is,
when decision-makers face two or more
courses of action and seek to select the best
possible alternative under the
circumstances.
Management Research is hence aimed at
improving the quality of decision-making
which, in turn, benefits the organization and
helps ensure its continuity and efficiency
Why Study Research?
Research provides you with the
knowledge and skills needed for the fast-
paced decision-making environment
Why Study Research?
To identify and find solutions to the
problems
To help making decisions
To find alternative strategies
To develop new concepts
Objectives of Research
Promotes better decision making
Research is the basis for innovation
Research identifies the problem areas
Research helps in forecasting
Research helps in formulation of strategies
Research helps in evaluating marketing
plan
Research helps in optimal utilization of
resources
Characteristics of a Good Research
A good research should be
systematic
A good research should be logical
A good research should be empirical
A good Research should be replicable
• High ethical standards applied
• Limitations frankly revealed
• Purpose clearly defined
significance of research in business and
industry
 Market analysis: Research helps business to gather important data on
market trends, customer preferences, competitor strategies, and other
relevant information. This information enables businesses to identify
opportunities for growth and make informed decisions about their
marketing and sales strategies.

 Product development: Research is essential in the development of new

products and services. By conducting research, businesses can gather
insights on customer needs and preferences, identify gaps in the
market, and develop innovative solutions that meet the needs of
customers.

 Decision-making: Research provides businesses with data-driven

insights that help them make informed decisions. Whether it's about
pricing strategies, product development, or market expansion,
research helps businesses to evaluate their options and choose the
best course of action.
significance of research in business and
industry
 Competitive advantage: Research helps businesses to stay ahead of
their competitors by identifying new market trends, understanding
customer preferences, and developing unique products and services.
This gives businesses a competitive edge in the marketplace and
helps them differentiate themselves from their competitors.

 Efficiency and productivity: Research can help businesses to identify

ways to improve their operations, streamline processes, and increase
productivity. By identifying inefficiencies and implementing best
practices, businesses can optimize their resources and improve their
overall performance.

 Risk management: Research enables businesses to assess and

mitigate risks by identifying potential challenges and opportunities
in the market. By conducting research, businesses can anticipate
potential threats and develop strategies to address them effectively.
Problems encountered by Researcher
Inadequate interaction between
academics and business entities
Library management needs to
improve
Lack of scientific training in the
research methodology
Lack of information ( latest report,
publication )
 Evaluate the cost of research
Example 1: Company 'X' wants to launch a
product. The company's intuitive feeling is that
the possibilities of the product's failure are 35%.
However, if research is conducted and
appropriate data is gathered, the chances of
failure could be reduced to 30%.
The company has calculated that losses would be
to the tune of Rs. 3,00,000 if the product fails.
The company has received a quotation from an
MR agency. The cost of the intended research is
Rs. 75,000. The question is: "Should the company
spend this money to conduct the research?"
Types of Research

1. Exploratory
 Initial research conducted to clarify and define the
nature of a problem
 Does not provide conclusive evidence
 Subsequent research expected
 E. g. An explanatory study of college students'
addictions to their electronic gadgets,
2. Descriptive
 Describes the data, characteristics of a population
or phenomenon
 Some understanding of the nature of the problem,
 It answers the question who, what, where, when, how
 Types of Research
Descriptive the position of the research as of now
Researcher report what has happened or happening .
It deals with demographic characteristics
It also used to estimate proportion of population who
behave in a certain way like why do middle income
groups go to food world to buy their products?
Trends in the consumption of soft drink with respect to
age, family, education,
degree of viewing tv channels variation with age,
income, profession,
 Uncertainty Influences
The Type Of Research

CAUSAL OR COMPLETELY ABSOLUTE EXPLORATORY

DESCRIPTIVE CERTAIN AMBIGUITY
Types of Research

3. Applied and fundamental / Basic Research:

Applied research deals with real life situation, it aims at

finding a solution for an immediate problem. Like why have
sales decreased during the last year .
E.g. Should McDonalds add Italian pasta dinners to its
menu?

Fundamental Research relates to basic, gathering

knowledge for knowledge’s sake is known as basic
research , its not directly involved with practical problems.
Eg. Tata institute of fundamental research conducts such
studies like Theory of relativity ( by Einstein)
Types of Research
 4. Quantitative and Qualitative:
 Quantitative research is based on the measurement of quantity
or amount . E.g. The relationship between poor households and
members becoming entrepreneurs.
 Qualitative research involves collecting and analyzing non-
numerical data to understand concepts, opinions, or experiences.
E.g. A Qualitative Study on the Emotional Journey of Cancer
Patients.

 5. Conceptual / Empirical and Experimental research :

 Conceptual research is defined as a methodology wherein
research is conducted by observing and analyzing already present
information on a given topic.
E.g. Brain Injury: Prevention and Treatment of Chronic Brain
Injury.
conceptual research relates to abstract idea or isms
 Experimental research is a study conducted with a scientific
approach using two sets of variables.
[Link] Research
Conducted to identify cause and effect
relationships. Eg . If a clothing company
currently sells blue denim jeans , causal
research can measure the impact of the
company changing the product design to the
color of white. So manager can be able to
decide whether changing the color of the
jeans to white would be profitable.
Types of Research

7. Historical Research : its a study of past

records and data in order to understand the
future trends.
There is no direct observation
Research has to depend on the conclusions
drawn from the past.
Eg. Crime branch / CBI study the past
records or the history of the criminals in
order to arrive at some conclusions.
Types of Research

9. Action Research: this type of research is

undertaken by direct action , its conducted to
solve a problem.
Eg. Test marketing of the product.
10. Evaluation Research : this research is
conducted to find out how well a planned
programme is implemented. Therefore
evaluation research deals with evaluating the
performance or assessment of a project.
Eg. Gvt wants to evaluate “ success of Midday
Meal Programme”
Research Process

The business research process is a series of

steps or stages, worked out in a systematic
and planned manner , to guide the research
right from the conception of the project, the
research purpose and objective through the
conclusions based on final analysis
recommendations and the ultimate action
Stages of the Research Process
Problem Discovery Discovery and
and Definition Definition

Research and so on
Design Conclusions and
Report

Sampling
Data Processing
and Analysis
Data
Gathering
The Research Process
 Literature survey
 Literature survey helps to place research work in the
contact of what has already been done, allowing comparison
above made and providing a frame work for further research
To justify the importance of the topic
To promote a brief up to account and discussion of literature
on the issues relevant to the topic
To discuss relevant research carried out on the same topic or
similar topic
Reviewing the existing books
Journals
Reports
Conference proceedings
PhD thesis
Internet and online database
The Research Process
 Formulation of Hypothesis and Identification
a variables
Hypothesis is the basis of any meaningful
research. It is a tentative assumption made to
draw out and test its logical or empirical
consequences/
It looks forward have proper direction
It should be very specific and limited to the piece
of research in hand because they have to be tested
It keeps the researcher on track, sharpen this
thinking focus attention on important facts.
The Research Process
Variables refers to the faction which
already known and to be predicted
The known factor is independent variable
Predicted one is dependent variable
Examples advertisement , expenditure and
sales; Profit and sales
Advertisement expenditure and profit are the
indisposed variable and sales is dependent
variable
The Research Process
Step [Link] the Research Design
Research design provide for the collection of
relevant evidence with minimum time, effort,
money etc, which may depends upon research
purpose.
It involves identifying the problems area,
formulating hypothesis, identifying the sours of
data, method of data collection and analysis,
specifying the time, manpower, money required,
estimating expected results, finalizing the tentative
way of research
The Research Process
 Determining the Sample Design
Sample design is imperative need to know
the response of the Universe. This is mainly
because of the fact that is not possible to
cover entire Universe or population , as the
same is big in size. Besides this enquiry
involves a great deal of time, money, and
manpower,
Sample size is the only way to deal with
activity.
The Research Process
Collection of Data

 Primary data
 Originally collected
 By observation
 Personal interviews
 Telephonic interviews
 Through Internet
 Questionnaires
 Schedules
 Secondary data
 Already available and compiled
Management Problem
Management problem involves what needs to be
done? Research problem essentially involves
determining “ what information needs to be
provided and how can the information be obtained.
Eg. MA : Develop the package for a new products .
RP : evaluate the effectiveness of alternative
package design.
Management problem : wants to increase the
sale of product A
Research Problem: what is the current standing
of the product A
Defining the Research problem
LO
OKBE
YONDY
OURN
OSE
Defining the Research problem
LOOK
BEYOND
YOUR
NOSE
Defining the Research problem
“Problem well defined is half done”
Difficult related problem: decline in market share
Opportunity related problems: provides benefits
Unanticipated change
Planned change
While defining the problem clearly define : who is
the focus, what's the subject matter of research? To
which territory the problem refers to ? To which
period does the study pertains to ?
Subject which is overdone should not be chosen
Vague problems should be avoided
Defining the Research problem
Eg. Why does the upper- middle class of
Bangalore shop at lifestyle during the Diwali
season ?
Identify the variables:
 1) variety offered at lifestyle
2) Discount offered?
3) ambience at the lifestyle.
 4) personalized service offered etc.
Sources for problem identification
Already published documents
Assistance of any research organization
Professors working in reputed academic
institution
Company employees
Technological changes
Seminars, symposiums
Self questioning by researcher while
defining the problem
Is the research problem correctly defined
Is the research problem solvable?
Can relevant data be gathered ?
Is the research problem significant?
Can the research be conducted within the
available resources?
Is the time given to complete the project
sufficient?
What exactly the hurdles to be overcome ?
I’m I competent to carry the study out?
extensive literature review
An extensive literature review is a
comprehensive study that examines a wide
range of academic sources on a particular
topic or research question. This type of
review involves thorough exploration and
analysis of existing research and literature
related to the subject of interest. It aims to
provide a comprehensive overview of the
current state of knowledge, identify gaps in
the existing literature, and highlight areas for
future research.
 The process of conducting an
extensive literature review typically
involves the following steps:
Defining the research question or topic of interest
Identifying relevant sources of information, such as
academic journals, books, conference papers, and
reports
Conducting a systematic search of the literature using
appropriate search strategies and databases
Reviewing and critically evaluating the selected
sources to assess their relevance, credibility, and
quality
Synthesizing and analyzing the findings from the
literature to identify key themes, trends, and gaps
Drawing conclusions and implications based on the
synthesized literature review
A problem statement
A problem statement is a short, clear
explanation of an issue or challenge that sums
up what you want to change. It helps you, team
members, and other stakeholders to focus on
the problem, why it's important, and who it
impacts.
These two steps will help you uncover the root
cause of a problem:
Collect information from the research and
previous experience with the problem
Talk to multiple stakeholders who are
impacted by the problem
need for the study
The need for the study is to fill a gap in the
existing knowledge or literature on a particular
topic, to address a specific research question, or
to provide new insights or findings that can
contribute to the field of study. This could be
driven by the desire to solve a practical problem,
to inform policy decisions, to support evidence-
based practices, or to advance scientific
understanding. By conducting the study,
researchers aim to generate valuable information
that can benefit individuals, organizations, or
society as a whole.
Variables in Research
 In research, there are two types of variables: independent
variables and dependent variables.

 A variable in research simply refers to a person, place,

thing, or phenomenon that you are trying to measure in
some way. The best way to understand the difference
between a dependent and independent variable is that the
meaning of each is implied by what the words tell us about
the variable you are using.
 Independent variables are the variables that are
manipulated or controlled by the researcher in an
experiment. They are believed to cause changes in the
dependent variable. In other words, they are the variables
that the researcher is testing to see if they have an effect
on the dependent variable.
Variables in Research
 Dependent variables, on the other hand, are the variables that
are measured or observed in an experiment. They are believed
to be influenced by the independent variable. In other words,
they are the variables that the researcher is trying to see if
they are affected by changes in the independent variable.

 For example, in a study looking at the effect of different study

techniques on exam performance, the independent variable
would be the study technique being used (e.g. flashcards,
reading aloud, etc.) and the dependent variable would be the
exam performance of the students. The researcher would
manipulate the study technique (independent variable) and
measure how it affects the students' exam performance
(dependent variable).
Theoretical framework
The theoretical framework is the structure that can
hold or support a theory of a research study. The
theoretical framework encompasses not just the
theory, but the narrative explanation about how the
researcher engages in using the theory and its
underlying assumptions to investigate the research
problem.
In summary, a theoretical framework is a
conceptual framework that provides a framework
for understanding and analyzing a particular
phenomenon or problem, guiding researchers in
their study and interpretation of research findings.
Research Questions.
A research question pinpoints exactly what you want to find
out in your work. A good research question is essential to
guide your research paper, dissertation, or thesis.

All research questions should be:

Focused on a single problem or issue

Researchable using primary and/or secondary sources
Feasible to answer within the timeframe and practical
constraints
Specific enough to answer thoroughly
Complex enough to develop the answer over the space of a
paper or thesis
Relevant to your field of study and/or society more broadly
 Thank you
END OF
UNIT-1