Research

Methodol
ogy

BY Dr. Tanay Shah

INTRODUCTION
TO RESEARCH
• Research is an art of scientific
investigation.
• Research is systematized efforts to gain
new knowledge.
• Management Research is an unbiased,
structure 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.
Research?

➢ A careful investigation for new facts in any

branch of knowledge

➢ Redman and Mory: Research is a systematic

effort to gain new knowledge

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 What is Research?

Business research method is a systematic and scientific procedure of data

collection, compilation, analysis, interpretation, and implication pertaining to any
business problem.
Business research is defined as the systematic and objective process of gathering,
recording, and analyzing data for aid in making business decisions (Zikmund,
2007).
Cooper and Schindler (2009) define business research as a systematic enquiry
that provides information to guide managerial decisions.
Why do research?

➢ Desire to get a research degree along

with its consequential benefits
➢ Desire to face the challenge in solving
the unsolved problems
➢ Desire to get intellectual joy of doing
some creative work
➢ Desire to be of service to society
➢ Desire to get respectability
➢ Directives of government,
employment conditions etc.

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Choose a subject

• Based on an idea

• Based on your experience

• Based on your reading

• Originality
• The important features of a
research design
➢ A plan
• Specify the sources & types of
information relevant to the
research problem
➢ A strategy
• Which approach will be used
for gathering and analyzing the
data
➢ The time and budgets
• Most studies are done under
these two constraints

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CHARACTERISTICS OF RESEARCH

➢ Systematic- All steps must be inter

related- one to another
➢ Logical- Agreeing with the principles of
logic
➢ Empirical-Conclusions should be based
on evidences/observations
CHARACTERISTICS OF RESEARCH…

➢ Objectivity- It must answer the research

questions
➢ Replicable- reproducible
➢ Transmittable
➢ Quality control- Accurate
measurements
➢ All well designed and conducted
research has potential application

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Define Your objectives

• Try to keep these simple

• The more variables the more difficult
• Use the opportunity
• Get help at this stage
• Senior colleagues
• Experienced researchers

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Types of
research
Mixed Methods
Research
Types of
Research from
the Viewpoint of
Application
Research can be classified based
on its application or purpose. Pure
research is conducted for the
sake of knowledge while applied
research is conducted to solve a
specific problem or answer a
practical question.
Pure Research
Sake of Knowledge
Pure research is conducted for the sake of knowledge and not for any particular
application. It seeks to expand our understanding of various topics and
phenomena.

Exploratory in Nature
Pure research is often exploratory in nature and seeks to discover new
information and insights about a particular topic. It aims to fill the gaps in our
understanding.

Examples of Pure Research

Examples of pure research include studies on the origins of the universe, the
structure of the human brain.
Applied Research
Definition of Applied Research
Applied research is a type of research that is conducted to solve a specific
problem or answer a practical question.

Fields of Applied Research

Applied research is often used in engineering, medicine, and business to solve
real-world problems and create new products or services.

Examples of Applied Research

Examples of applied research include studies on the effectiveness of a new drug,
the impact of a new marketing strategy, or the development of a new technology.
Types of Research from Descriptive Research

the Viewpoint of Descriptive research seeks to describe a particular phenomenon or

population with the aim of providing a detailed picture of the subject under

Objective investigation.

Exploratory Research
Exploratory research seeks to get a better understanding of a particular
topic by gathering information and insights that can be used to develop
hypotheses for further investigation.

Correlational Research
Correlational research is conducted to determine if there is a relationship
between two variables, with the aim of identifying any patterns or
correlations that may exist.

Explanatory Research
Explanatory research seeks to determine the cause-and-effect
relationship between two variables, with the aim of providing a deeper
understanding of the subject under investigation.
Descriptive Definition of Descriptive Research
Descriptive research is a type of research that aims to describe a
particular phenomenon or population. It is often used in fields such as

Research sociology or psychology to capture information about a specific group of

people or behavior.

Surveys in Descriptive Research

Surveys are a common method of descriptive research used to capture
information about a particular population. They often involve asking
questions to a group of people to gather data on their opinions, attitudes,
or behaviors.

Observational Studies in Descriptive Research

Observational studies are another type of descriptive research used to
capture information about a particular behavior or group of people. They
involve observing people in their natural environment and recording their
behaviors or interactions.
Exploratory Research

Purpose of Exploratory Research

Exploratory research is used to gain insights and a
better understanding of a particular topic. It is often
used in cases where little is known about the
subject, and the goal is to generate ideas or
hypotheses.

Methods of Conducting Exploratory Research

Focus groups, case studies, and interviews are some
of the methods used to conduct exploratory
research. The goal is to identify patterns or themes in
a particular population or behavior.
Correlational
Research
Definition of Correlational Research
Correlational research is used to determine if there is
a relationship between two variables. This type of
research is often used in fields such as medicine or
education.

Examples of Correlational Research

Examples of Correlational research include studies
that aim to determine if there is a relationship
between smoking and lung cancer or between class
size and academic achievement.
Conclusion
Types of Research
We explored three major types of research from three different viewpoints:
Application, Objective, and Enquiry Mode.

Research Methods
We learned about pure and applied research, descriptive and exploratory
research, correctional and explanatory research, as well as mixed methods,
qualitative, and quantitative research.

Choosing the Right Approach

By understanding the different types of research, we can choose the best
approach for our own work and make informed decisions.
Explanatory
Research
Explanatory research aims to
determine the cause-and-effect
relationship between two
variables. It is often used to test
hypotheses or theories that seek
to establish a causal relationship
between two variables.
Types of Research from the
Viewpoint of Enquiry Mode
Qualitative Research
Qualitative research is an exploratory research method aimed at gaining an in-
depth understanding of a particular phenomenon or population. It uses non-
numerical data such as interviews, observations, and case studies.

Quantitative Research
Quantitative research is a research method that aims to measure and analyze
data using statistical methods. It uses numerical data such as surveys and
experiments.

Mixed Methods Research

Mixed methods research combines both quantitative and qualitative
approaches to gain a more complete understanding of a particular topic. It uses
both numerical and non-numerical data in its research design.
Mixed Methods
Research
Combining Quantitative and Qualitative
Approaches
Mixed methods research combines both quantitative
and qualitative approaches to gain a more complete
understanding of a particular topic, leveraging the
strengths of each approach to provide a more
comprehensive view of the issue.

Increasing Validity and Reliability

Combining quantitative and qualitative approaches
in mixed methods research can increase the validity
and reliability of the study, providing a more robust
and comprehensive analysis of the issue.
Qualitative Research
In-depth Understanding
Qualitative research seeks to gain an in-depth understanding of a particular
phenomenon or population. It involves exploring and interpreting subjective
experiences and meanings.

Research Fields
Qualitative research is often used in fields such as anthropology, sociology, or
psychology to explore complex social phenomena and human behavior.

Qualitative Research Methods

Qualitative research methods include interviews, focus groups, and ethnographic
studies, among others. These methods provide rich, detailed data that can help
researchers develop a deeper understanding of the research subject.
Quantitative Research
Statistical Methods
Quantitative research relies on statistical methods to measure and analyze data.
This helps researchers draw conclusions and make decisions based on numerical
evidence.

Fields of Application
Quantitative research is used in many fields, including economics, business,
engineering, and social sciences. It allows researchers to collect and analyze large
amounts of numerical data to draw conclusions and make predictions.

Examples of Quantitative Research

Examples of quantitative research include experiments or surveys that aim to
collect and analyze numerical data. This data can be used to test hypotheses,
measure relationships, or make predictions.
Criteria of a good
research /What is a
good research?
• Purpose clearly defined
• Research process detailed
• Research design thoroughly planned
• High ethical standards applied
• Limitations frankly revealed
• Analysis adequate for decision makers need
• Findings presented unambiguously
In other words, Good research should be
systematic, logical(inductive & deductive
reasoning), empirical(related to real life
situations), replicable.
Research applications in finance

Auditing and accountability

Market-based accounting research

financial forecasting

Research based on stock markets

Researches on bank and their liquidity

positions
Researches on capital structure
 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
 Research applications in marketing

Market & consumer analysis

APPLICATIONS
OF RESEARCH
Product research
IN
MANAGEMENT
Pricing research

Promotional research

Place research