Research Methodology

Deepika Chhikara
Asst. Professor
VSBS
RM can help the business manager in
decision making!

Objective of the subject

• To understand various aspects of research

• Identify various tools available to a researcher
Meaning of Research
• Made of 2 syllables – Re (again, a new or over again) &
Search (to examine closely and carefully, to test and try,
or to probe)
• Together ‘Re-Search’ forms a noun describing a careful,
systematic, patient study and investigation in some field
of knowledge, undertaken to establish facts or
principles.
Facts vs principles??
• Facts : Information – In simplistic view, research
involves compilation and validation of
information.
• Principles : Theories/Model – In scientific view,
research involves conversion of information to an
exhaustive theory and model construction.
“Scientific and Non-Scientific” Research

• Scientific methods consists of systematic observation,

classification and interpretation of the data
• Day to day generalization vs scientific conclusions
• Degree of formality, rigorousness, verifiability and general
validity
Management Research
• Management Research is an unbiased, structured and
sequential method of enquiry, directed towards a clear
implicit or explicit business objective. This enquiry might lead
to validating the existing postulates or arriving at new
theories and models.
• A researcher should work towards a goal, whether
immediate or futuristic, else the research loses its
significance in the field on management.
Research applications in marketing
• Market & consumer analysis

• Product research

• Pricing research

• Promotional research

• Place research
 Research applications in finance
• Asset pricing, capital markets and corporate finance

• Financial derivatives and credit risk modeling research

• Market-based accounting research

• Auditing and accountability

• Other areas: financial forecasting, behavioural finance,

volatility analysis
 Research applications in
human resources
• Training & development studies

• Selection and staffing studies

• Performance appraisal–design and evaluation

• Organization planning and development

• Incentive and benefits studies

• Emerging areas–critical factor analysis, employer branding

studies
 Research applications in
production & operations management
• Operation planning and design
• Demand forecasting and demand estimation
• Process planning
• Project management and maintenance effectiveness
studies
• Logistics and supply chain-design and evaluation
• Quality estimations and assurance studies
Scope of Research

Environmental Organizational Marketing Level

Level Level • Product
• Technological • HRM • Price
Innovations • Finance • Place
• Competitors Analysis • Product • Promotion
• Industry Threats • Organizational • Sales
• New Market Entry effectiveness and • Customer
• New Product success
Development
Characteristic of Research
• Begins with a problem in the form of a question in the mind of the researcher Eg:
why are sales targets not being met?
• Demands the identification of a problem, stated in clear, unambiguous terms. Eg:
instead of above statement it should be ‘why sales target of ABC product in Delhi
region for Jan 2021 not met?’
• Deals with the main problem through appropriate sub-problems. Eg;
Brainstorming about : Are these targets feasible? If not, what are feasible ones? Is
production enough to meet demand? Were enough sales orders placed?
• Requires a plan
• Seeks direction through appropriate hypotheses and is based on obvious
assumptions
• Deals with facts and their meaning
• Its circular
 Criteria for good research
• MUST have: a clearly stated research purpose/ objective
• MUST have: a sequential plan of execution
• MUST have: a logical and explicitly stated justification for the
selected methods
• MUST have: an unbiased and neutral method of conduct and
reporting
• MUST have: complete transparency and ethical conduction of
the research process
• MUST have: provision for being reliable & replicable
 Limitations of Research
• In absence of detailed investigation and sophisticated techniques, it may give false
results

• Sometimes, theory does not go very well with actual results like behaviour studies.
Behavioural aspects are difficult to interpret.

• Not free from bias. The research conclusions cannot be verified. The reproduction of the
same project on the same class of respondents give different research results.

• Many business executives and researchers have ambiguity about the research problem
and it’s objectives. They have limited experience of the notion of the decision-making
process. This leads to carelessness in research and researchers are not able to do
anything real.

• Huge cost is involved in research as collection and processing of data can be costly.
 Type of Research

On the basis of On the basis of On the basis of On the basis of

Other Basis
Application Purpose Measurement Research Method

Place/Environ
Pure/Basic Exploratory Conclusive Qualitative Conceptual Time Period Era of Time
ment

One
Applied Descriptive Quantitative Empirical Time/Cross Historical Field Setting
Sectional

Causal or Longitudinal Comparative Laboratory

Explanatory

*Depends on the nature of enquiry or the objective

Types of Research- On the Basis of Application
A) Basic Research: Also known as fundamental/pure research has the
scientific research aim to improve scientific theories for improved
understanding or prediction of natural or other phenomena.
• Driven by curiosity
• Specific contribution to the specific body of knowledge
• Might not have immediate application

Eg; Impact of mobile radiation on brain?

 Types of research

• Basic research : the basic premise is the need to KNOW and the
concern is primarily academic in nature.

• Applied research: Solution or action oriented research, that is

contextual and practical in approach.
B) Applied Research
Applied research is a methodology used to solve a specific, practical
problem of an individual or group.
• Action oriented (Contextual, restricted & specific)
• Focuses on immediate results

Eg: Reason of attrition in an organization?

In some cases, both Basic & Applied Research is
conducted to derive optimum solution.
• They are two ends of a continuum but may merge or lea to the other
• Impact of merger of large organizations (Flipkart & Walmart) on
employees morale and subsequent turnover intention ( being
contextual )
• Further investigation of similar and different organization
(fundamental)
Typical Types of Business Research
BUSINESS RESEARCH

BASIC RESEARCH APPLIED RESEARCH

EXPLORATORY CONCLUSIVE RESEARCH

RESEARCH

DESCRIPTIVE RESEARCH CAUSAL RESEARCH

 Exploratory vs Conclusive Research
EXPLORATORY RESEARCH CONCLUSIVE RESEARCH
• Loosely structured in design • Well structured and systematic in
design
• Are flexible and investigative in • Have a formal and definitive
methodology methodology that needs to be followed
and tested
• Do not involve testing of hypotheses • Most conclusive researches are carried
out to test the formulated hypotheses
• Findings might be topic specific and • Findings are significant as they have a
might not have much relevance outside theoretical or applied implication.
the researcher’s domain
On the basis of Purpose
1. Exploratory Research : foundation to eventually solve a problem ( or
make better decisions). Allows a better understanding of the
concepts and provides direction for further more structured&
rigorous research.
• Does not offer final or conclusive solution to the problem (initial
research directing towards conclusive)
• Conducted when the problem is not clearly defined yet
• Researcher is willing to change his direction basis on new insights
Eg: Impact of corona on overall health.
2. Conclusive Research
Conclusive research tests and authenticates the results revealed by
exploratory research.
• Validates the exploratory research
• More structured and definite (objective and data requirements)
• Explicit quantifiable problem (application of quantitative methods)
• Deductive in nature
Eg: Corona impacts the respiratory system?
Important to note!!
It is not always exploratory that leads to the conclusive. Sometimes a
relationship or correlation to be tested is defined by the
manager/researcher.

Eg: Testing the level of consumer satisfaction with different investment

options.
Types of Conclusive Research
A) Descriptive Research – Undertaken to describe the situation,
community, phenomena, outcome etc. This describes the data. Eg:
Annual Census by the Government or Characteristic of consumer
that buy normal vs premium petrol.

B) Causal Research (Explanatory) – Explores the effect of one or more

variables on other variable(s), with reasonable level of certainty by
controlling the impact of other influencing variables. Rigid, sequential
approach to sampling, data collection and data analysis. Eg: Impact of
social media on study time, keeping other variables controlled.
 On the basis of Measurement

• Provide insights and

understanding of
Qualitative the problem in
hand

• Quantifies the data

and generalize the
Quantitative data from sample
to target population
Quantitative and Qualitative Research
• Quantitative research is a research methodology which
uses questions and questionnaires to gather quantifiable data and
perform statistical analysis to derive meaningful research conclusions.
Expressed in numbers and graphs. This type of research can be used
to establish generalizable facts about a topic.
• Qualitative research is a research methodology where “quality” or
opinion based research is conducted to derive research conclusions.
This type of research is often conversational in nature rather than
being quantifiable through empirical data and measurements.
Expressed in words. This type of research enables you to gather in-
depth insights on topics that are not well understood.
When to use qualitative vs. quantitative
research
A rule of thumb for deciding whether to use qualitative or quantitative
data is:
• Use quantitative research if you want to confirm or test something (a
theory or hypothesis) Eg: Low incentives leads to employee attrition.
• Use qualitative research if you want to understand
something (concepts, thoughts, experiences) Eg: Why employees
leave their jobs?
 BASIS FOR
QUALITATIVE RESEARCH QUANTITATIVE RESEARCH
COMPARISON
Meaning Qualitative research is a method of inquiry that Quantitative research is a research method that is
develops understanding on human and social used to generate numerical data and hard facts, by
sciences, to find the way people think and feel. employing statistical, logical and mathematical
technique.
Nature Holistic Particularistic
Approach Subjective Objective
Research type Exploratory Conclusive
Reasoning Inductive Deductive
Sampling Purposive Random
Data Verbal Measurable
Inquiry Process-oriented Result-oriented
Hypothesis Generated Tested
Elements of Words, pictures and objects Numerical data
analysis
Objective To explore and discover ideas used in the ongoing To examine cause and effect relationship between
processes. variables.
Methods Non-structured techniques like In-depth interviews, Structured techniques such as surveys,
group discussions etc. questionnaires and observations.
Result Develops initial understanding Recommends final course of action
On the basis of Research Method
 CONCEPTUAL RESEARCH EMPIRICAL RESEARCH
Conceptual research focuses on the concept In empirical research, data collection is done
(abstract/ideas) or theory that explains the through observation and
phenomenon being studied. experimentation.
This research is always conducted in an analytical This research is always done through various
way. observation and experiments.
It is theoretical approach of research. It is practical approach of research.
Degree of accuracy is less. Degree of accuracy is more.
Here the researcher may not be skilled and Here the researcher should be skilled and
experienced. experienced.
Uses the existing data to develop new ideas or This type of research develops new concepts by
concepts. observation and experimentation.
The ideas/concepts developed are not tested. The developed ideas /hypothesis are tested and
concluded.
It is not proof based. It is always proof based.
On the basis of Era of Time
• Historical – Based on remote or current past in order to explore
patterns that occurred in the past. Comparative- relates to present
wherein a comparison of 2 or more samples of the subjects under
study is done on the basis of selected variables or attributes
On the basis of Place/Environment
• Field Setting – conducted in real world or a natural setting.
Participants may or may not now they are being studied.
• Laboratory – conducted in a setting specifically designed for research,
also called controlled setting.
Research Terms

Problem Research
Research Hypothesis
Statement Problem/Question

Variables Biases/Errors Validity Reliability

Data Collection:
Sampling Statistical Analysis
Tools