M. Com. Research Methodology (Shivaji University) PDF

H I SHIVAJI UNIVERSITY, KOLHAPUR CENTRE FOR DISTANCE AND ONLINE EDUCATION Research Methodology (RM) (MRM) For M. Com. Part-I Sem...

H I SHIVAJI UNIVERSITY, KOLHAPUR CENTRE FOR DISTANCE AND ONLINE EDUCATION Research Methodology (RM) (MRM) For M. Com. Part-I Semester - I (In accordance with National Education Policy 2020) (Implemented from the Academic Year 2023-24) K J Copyright © Registrar, Shivaji University, Kolhapur. (Maharashtra) First Edition 2021 Revised Edition 2023 Prescribed for M. Com. Part-I All rights reserved, No part of this work may be reproduced in any form by mimeography or any other means without permission in writing from the Shivaji University, Kolhapur (MS) Copies : 2,000 Published by: Dr. V. N. Shinde Ag. Registrar, Shivaji University, Kolhapur-416 004 Printed by : Shri. B. P. Patil Superintendent, Shivaji University Press, Kolhapur-416 004 ISBN- 978-93-92887-10-9  Further information about the Centre for Distance and Online Education & Shivaji University may be obtained from the University Office at Vidyanagar, Kolhapur-416 004, India. (ii)  Centre for Distance and Online Education Shivaji University, Kolhapur  ADVISORY COMMITTEE Prof. (Dr.) D. T. Shirke Prof. (Dr.) Smt. S. H. Thakar Hon'ble Vice Chancellor, I/c. Dean, Faculty of Science and Shivaji University, Kolhapur Technology, Shivaji University, Kolhapur Prof. (Dr.) P. S. Patil Prin. (Dr.) Smt. M. V. Gulavani Hon'ble Pro-Vice Chancellor, I/c. Dean, Faculty of Inter-disciplinary Shivaji University, Kolhapur Studies, Shivaji University, Kolhapur Prof. (Dr.) Prakash Pawar Dr. V. N. Shinde Department of Political Science Registrar, Shivaji University, Kolhapur Shivaji University, Kolhapur Prof. (Dr.) S. Vidyashankar Dr. A. N. Jadhav Hon'bleVice-Chancellor, KSOU, Director, Board of Examinations and Mukthagangotri, Mysuru, Karnataka Valuation, Shivaji University, Kolhapur Dr. Rajendra Kankariya Smt. Suhasini Sardar Patil G-2/121, Indira Park, Chinchwadgaon, Finance and Accounts Officer, Pune Shivaji University, Kolhapur Prof. (Dr.) Cima Yeole Dr. (Smt.) Kavita Oza Geet-Govind, Flat No. 2, Department of Computer Science, 1139 Sykes Extension, Kolhapur Shivaji University, Kolhapur Dr. Sanjay Ratnaparkhi Dr. Chetan Awati D-16, Teachers Colony, Vidhyanagari, Department of Technology, Mumbai University, Santacruz (E), Mumbai Shivaji University, Kolhapur Prof. (Dr.) S. S. Mahajan Prof. (Dr.) D. K. More Dean, Faculty of Commerce and (Member Secretary) Director, Management, Shivaji University, Kolhapur Centre for Distance Education, Shivaji University, Kolhapur. Prof. (Dr.) M. S. Deshmukh Dean, Faculty of Humanities, Shivaji University, Kolhapur (iii)  Centre for Distance and Online Education Shivaji University, Kolhapur MEMBERS OF B.O.S. IN ACCOUNTANCY Prof. (Dr.) Nandkumar Laxman Kadam Jaysingpur College, Jaysingpur, Jaysingpur, Dist. Kolhapur  Dr. Mrs. Sherya Vinay Patil  Dr. Ashok Ramchandra Shinde Balwant College, Vita, Dist. Sangli Yashwantrao Chavan Mahavidyalaya, Urun-Islampur, Tal. Walwa, Dist. Sangli  Dr. Anil S. Patil Arts, Commerce and Science College,  Prof. (Dr.) B. B. Shitole Palus, Dist. Sangli Karmaveer Bhaurao Patil Mahavidyalaya Pandharpur, Tal. Pandharpur, Dist. Solapur  Dr. Smt. Vandana S. Tandale Hon. Shri. Annasaheb Dange Arts,  Prof. (Dr.) V. K. Sawant Commerce and Science College, Dhananjayrao Gadgil College of Hatkanangale, Dist. Kolhapur Commerce, Satara  Dr. J. G. Mulani  Dr. M. N. Haladkar Shri. Sampatrao Mane Mahavidyalaya, Rajarshi Shahu Arts and Commerce Khanapur, Dist. Sangli College, Rukadi, Dist. Kolhapur  Dr. Sarjerao S. Chile  CA - A. A. Gawade Prof. (Dr.) N. D. Patil Mahavidyalaya Matoshri Plaze, Shop No. 210 2nd Floor Malkapur, Tal. Shahuwadi, Dist. Kolhapur Station Road, Venus Corner, Shahupuri, Kolhapur  Dr. Sagar R. Powar Karmaveer Hire Arts, Commerce, Science  CA - Mrs. C. K. Patil and Education College, Gargoti, Morya Residence, 4th Floor, Tal. Bhudargad, Dist. Kolhapur Rajarampuri 2nd lane, Nigade Hospital lane, Kolhapur  Dr. Ram Ningappa Naik Smt. Kusumtai Rajarambapu Patil Kanya Mahavidyalaya (Arts, Commerce & Science) Islampur, Tal. Walwa, Dist. Sangli (iv)  Preface The subject Research Methodology is instrumental to orient post-graduate students with research design, research process and its significance in a particular discipline. We can educate and sensitize students to take up their steps in research to contribute to the society at large. This book is written for the purpose of students on distance mode. It is contemplated here that the students will read the book, they will make exercise and come to the contact sessions with their queries which can be solved in it. This book is for their basic preparation for their study however they can make supplementary and extensive learning by using reference books. This book aims at providing for a conceptual kit on research methodology to orient the students with basic ideas about types, methods, design, process, data analysis and report writing etc. It was challenge before authors to cover span of research methodology within four units. However, we have contributed to our level best. This book is divided into four chapters of ‘Research Methodology’ for M. Com. Part-I (Semester- I). four units are on the topic of ‘Introduction to Research’, ‘Research Design’, ‘Data Collection and Processing’ and ‘Analysis and Interpretation of Data’. The first unit covers meaning and objectives of research, research in commerce and management, types of research, review of literature, research process, methods of research: case study and survey method. The Second unit presents meaning and components of research design, exploratory research design, descriptive research design, diagnostic research design and experimental research design; meaning and types of hypothesis, process of formulating hypothesis; sample designsampling techniques, random and non-random sampling methods. The third unit comprises meaning of data, types of data, quantitative and qualitative data, primary and secondary sources, methods of primary data collection, questionnaire method, interview method, observation method, focus group interview method, types of questions in questionnaire, sources of secondary data, classification, tabulation and graphical presentation. The fourth unit describes about analysis and interpretation of data using various descriptive statistical tools (measure of central tendency, measures of dispersion, correlation and regression) hypothesis testing by suitable methods (Parametric and non-parametric tests), Chi-square test, One Sample ‘t’ test and independent sample ‘t’ test, layout of research project, steps involved in report writing, requisites of good research report. Along with the theoretical components, illustration is given in every unit to understand and learn every concept clearly. At every regular interval, objective type questions are given to check the progress of the student. At the end of each unit, exercise is available which will be useful to students to make preparation according to the syllabus stipulated. We are grateful to Hon. Vice-Chancellor Prof. (Dr.) D. T. Shirke and Hon. Pro-Vice-Chancellor Prof. (Dr.) P. S. Patil, Prof. (Dr.) D. K. More, Director, Centre for Distance Education and the Registrar for their support and cooperation. We are thankful to all university staff for timely support for this book.  Editors Prof. (Dr.) Shrikrishna S. Mahajan Dr. Sarang S. Bhola Senior Professor and Head, Associate Professor, Department of Commerce and Management, KarmveerBhaurao Patil Institute of Shivaji University, Management Studies and Research, Kolhapur Varye, Satara. (v) Centre for Distance and Online Education Research Methodology Shivaji University, Kolhapur. Writing Team Sem. II Writers Name Units Dr. S. S. Mahajan 1, 3 Dept. of Commerce and Management, Shivaji University, Kolhapur Dr. S. S. Bhola 2, 4 Karmveer Bhaurao Patil Institute of Management Studies and Research, Satara  Editors Prof. (Dr.) Shrikrishna S. Mahajan Dr. Sarang S. Bhola Senior Professor and Head, Associate Professor, Department of Commerce and Management, KarmveerBhaurao Patil Institute of Shivaji University, Management Studies and Research, Kolhapur Varye, Satara. (vi)  M. Com. Part-I SIM I OF RESEARCH METHODOLOGY (Syllabus in Accordance with NEP - 2020) INDEX Unit No. Topic Page No. Semester-I 1. Basic of Research 1 2. Research Design 33 3. Data Collection and Processing 86 4. Analysis and Interpretation of Data 127 (vii) Each Unit begins with the section objectives - Objectives are directive and indicative of : 1. what has been presented in the unit and 2. what is expected from you 3. what you are expected to know pertaining to the specific unit, once you have completed working on the unit. The self check exercises with possible answers will help you understand the unit in the right perspective. Go through the possible answers only after you write your answers. These exercises are not to be submitted to us for evaluation. They have been provided to you as study tools to keep you in the right track as you study the unit. Dear Students The SIM is simply a supporting material for the study of this paper. It is also advised to see the new syllabus 2023-24 and study the reference books & other related material for the detailed study of the paper. (viii)  Unit-1 Basics of Research INDEX: 1.0 Objectives 1.1 Introduction 1.2 Presentation of Subject Matter 1.2.1 Meaning of Research 1.2.2 Objectives of Research 1.2.3 Research in Commerce and Management 1.2.3.1 Human Resource Management 1.2.3.2 Marketing Management 1.2.3.3 Finance and Accounting 1.2.3.4 Operations and Production Management 1.2.3.5 Cross-functional and Multi-disciplinary Research 1.2.4 Types of Research 1.2.4.1 Pure or Basic Research 1.2.4.2 Applied Research 1.2.4.3 Descriptive Research 1.2.4.4 Analytical Research 1.2.4.5 Quantitative Research 1.2.4.6 Qualitative Research 1.2.4.7 Historical Research 1.2.5 Review of Literature 1.2.6 Research Process 1.2.6.1 Defining research problem 1.2.6.2 Review of literature 1.2.6.3 Developing hypothesis 1  1.2.6.4 Formulating the research design 1.2.6.5 Determining sample design 1.2.6.6 Data collection 1.2.6.7 Data analysis 1.2.6.8 Testing of hypothesis 1.2.6.9 Interpretation 1.2.6.10 Preparing research report 1.2.7 Methods of Research 1.2.8 Case Study Method 1.2.8.1 Meaning of Case Study Method 1.2.8.2 Characteristics of Case Study Method 1.2.8.3 Process of Case Study 1.2.8.3 Merits of Case Study Method 1.2.8.4 Demerits of Case Study Method 1.2.9 Survey Method 1.2.9.1 Meaning of Survey Method 1.2.9.2 Process of Survey 1.2.9.3 Types of Survey 1.2.9.4 Merits of Survey Method 1.2.9.5 Demerits of Survey Method 1.2.10 Historical Method 1.2.11 Experimental Method 1.3 Summary 1.4 Terms to Remember 1.5 Answers to Check your progress 1.6 Exercise 1.7 Reference for further study 2 1.0 Objectives: After studying this unit you should be able: 1. To understand the meaning and objectives of research 2. To be familiar with the research in Commerce and Management 3. To classify the research into different types 4. To understand the review of literature and research process 5. To understand the methods of research: case study method and survey method. 1.1 Introduction: The development of whole world is due to research in various fields of life. Human being is benefited by the research undertaken in various subjects. The human urge for new areas of knowledge has developed a sense for search and research in him. Every society or economy has serious social, economic and political problems. These problems need systematic, intelligent and practical solution. The business organizations have managerial problems which also require solutions. The innovation is solution for many problems and it comes from the research. However, what is the research that we have to understand. 1.2 Presentation of Subject Matter In this unit, we are going to see the meaning and objectives of research; the research in Commerce and Management; types of research; review of literature; research process; and the methods of research. This unit also includes the meaning, advantages and disadvantages of case study method and survey method. 1.2.1 Meaning of Research As per dialect, research refers to a search for new knowledge. However it is systematic enquiry of a research topic. It is critical investigation of a phenomenon with specific objectives. We can understand the meaning of research with the help of definitions given by some thinkers. The characteristics of research clear us the meaning of research. Research brings improvement in practical life. 3  Redman and Morey has defined research briefly as ‘systematized effort to gain new knowledge.’ P. V. Young defined the research as ‘social research is the systematic method of discovering the new facts or verifying the old facts, their sequences, inter- relationship, causal explanations and the natural laws which govern them.’ D. Slesinger and M. Stephenson say ‘social research is manipulation of things, concepts or symbols for the purpose of generalizing to extend correct and verifying knowledge, whether that knowledge aids in the construction of a theory or in the practice of an art.’ Another definition of research is given by F. A. Ogg who says that ‘research may or may not come to success; it may or may not add anything to what is already known. It is sufficient that its objectives be new knowledge or at least a new mode or orientation of knowledge.’ Clifford Moody has given whole process of research in his definition, he says ‘It comprises defining and redefining problems; formulating hypotheses or suggested solutions; collecting, organizing and evaluating data; making deductions and making conclusions; and at last carefully testing the conclusions to determine whether they fit the formulated hypothesis.’ According to Webster’s International Dictionary, the research has been defined as ‘a careful and critical enquiry or examination in seeking facts or principles, diligent investigation in order to ascertain something.’ Francis Rummel says ‘Research is a careful inquiry or examination to discover new information or relationships and to expand and to verify existing knowledge.’ John W. Best says ‘Research may be defined as the systematic and objective analysis and recording of controlled observations that may lead to the developments of generalizations, principles, or theories, resulting in prediction and possibly ultimate control of events.’ Kerlinger defines research as ‘a systematic, controlled empirical and critical investigation of hypothetical propositions about the presumed relations among natural phenomena.’ 4 1.2.1.2 Characteristics of Research: (1) Research is a systematic, objective and logical process. (2) Research is a systematic and critical investigation. (3) Research is a serious and rigorous process of analyzing data with specific purpose. (4) Research is a controlled activity. (5) Research is a valid experience and provides verifiable evidences. (6) Research should be relevant. 1.2.2 Objectives of Research The main objective of a research is to find out a truth which has not been yet discovered. The specific objectives are as follows: 1. Creating knowledge: Research is a process of gaining new knowledge. It is conducted to develop a new theory or to test an existing theory or to extend the existing knowledge. Research always contributes to the knowledge. 2. Describing characteristics: Research is also conducted to describe accurately the characteristics of a particular individual, situation or a group. 3. Diagnosis of problem: Research can be conducted to determine the frequency with which something occurs or with which it is associated with something else. 4. Testing relationship: Research is also conducted to test a hypothesis of causal relationship between variables. 5. Welfare objective: Research should have social objective for broader view of welfare of the society. It is always expected that research should be useful to the society at large. After solving any problem Check your progress-1: (A) Fill in the blanks: (a) ………………. is systematized effort to gain new knowledge. (b) Research is a ………. and critical investigation. (c) Research is a ……….. experience and provides verifiable evidences. 5 (B) State whether the following statement is true or false (a) Creating knowledge is one of the objectives of research. (b) Describing characteristics is not the objective of any research. 1.2.3 Research in Commerce and Management Research is backbone for all areas of business hence it is nothing but lifeline of business studies. The development of various disciplines of commerce and management is dependent on research. The research in commerce and management is constantly done for effective and actionable decision-making. Most of the decisions require additional information or information evaluation, which is addressed by business research. There are different areas of business research which include: 1. Research in Human Resource Management and Organizational Behaviour 2. Research in Marketing Management 3. Research in Financial Management and Accounting 4. Research in Operations and Production Management and Supply Chain Management 5. Research in Entrepreneurship and business models etc. 1.2.3.1 Human Resource Management: Fundamental research in human resource management and organizational behaviour can be applied by business organizations in their policies and programmes. It may cover topics like (a) performance management, leadership analysis, organizational climate and work environment studies, talent and aptitude analysis and management, (b) employee recruitment and selection, (c) organizational planning and development, (d) incentive and benefit studies, job analysis and performance appraisal, employee benefits and reward analysis etc., (e) training and development gap analysis, impact and effectiveness of training. 1.2.3.2 Marketing Management: Research in marketing management includes broader industry specific studies. Some market research agencies conduct such research and they are sold to business organizations to assist their business decisions. Research in marketing consists of: (a) market potential analysis, market segment analysis and demand estimation, (b) 6 market structure analysis, (c) consumer and business trend analysis, (d) buying behaviour and customer satisfaction etc. Some organizations prefer to conduct the research by their own product development department or R and D department. Such department carries out research related to all 4Ps of marketing such as (i) product research, (ii) pricing research, (iii) promotional research and (iv) place research. Research in customer relation management, customer satisfaction and customer loyalty etc. is now significant research carried out in the scenario of increased competition. 1.2.3.3 Finance and Accounting: Research in finance and accounting is vast area of business studies and significant in decision-making. It includes: (a) capital market research, market micro structure, corporate finance, (b) analysis of financial derivatives, (c) market-based accounting research, (d) earning management, (e) risk management, (f) auditing and accountability, (g) integrated financial reporting, (h) financial econometrics, (i) merchant banking and insurance, (j) economic value added, and (k) micro-finance, financial inclusion and financial literacy etc. 1.2.3.4 Operations and Production Management: Research in operations and production management is highly focused and problem-specific. Such research areas consists of operation planning, demand forecasting and analysis, process planning, project management, maintenance management, logistics and supply chain management, inventory management, quality assurance, quality control, total quality management and quality certification analysis etc. 1.2.3.5 Cross-functional and Multi-disciplinary Research: Business research is not only confined to functional areas of management, however, cross-sectional and multi-disciplinary approach is always useful for businesses with considering changes in business environment. It requires research areas such as corporate social responsibility, corporate governance and ethics, technical support system, enterprise resource planning, knowledge management, data mining and warehousing and artificial intelligence and so on. Business environment is also integrated subject which carries out research on ecological and environmental analysis, legal analysis, human rights and discrimination studies etc. 7 In this way, we can understand research in commerce and management in diverse areas with various purposes. Check your progress-2: (A) State whether the following statement is true or false (a) There is no any space for research in Commerce and Management. (b) Most of the decisions require additional information or information evaluation, which is addressed by business research. (c) Market potential analysis is made in the research of human resource management. (d) Market micro-structure is studied in finance research. (e) Process planning is the topic of operations management. 1.2.4 Types of Research: There are different type of research which may be pure research, basic research, applied research, descriptive research, analytical research, quantitative research and qualitative research etc. 1.2.4.1 Pure or Basic Research: Pure research is also called as basic research or fundamental research. Such research is undertaken for the sake of knowledge without any intention to apply it in practice. Out of intellectual curiosity such research is carried out. It may aim to either discover a new theory or refinement of an existing theory. Fundamental research may include (a) the research deals with natural phenomenon and (b) the research related to human behavior make generalization. Pure research makes scientific contribution to the development of the theoretical knowledge for e.g. Elton Mayo's Hawthorne Study's contribution to Behavioural Science. The contribution of pure research may be seen in major four areas (i) contributing new facts, (ii) putting theory to test, (iii) conceptual clarification and (iv) interesting previously existing theories. The examples of pure research we can find as Einstein's theory of relativity, Joan Robinson's Imperfect Competition, Chamberlains Monopolistic competition, Milton Friedman made new interpretations of the monetary phenomenon which 8 questioned some of assumptions of Keynesian theory etc. Basic research contributes either by discovery of new theory or development in the existing theory. 1.2.4.2 Applied Research: Applied research is the research which is to find out a solution for practical problem which is being faced by society or business etc. The main aim of applied research is to discover a solution for some practical problems. Following are the examples of applied research: a) The research which find out conclusions for social or business problem b) The research which identify social, economic or political trends which affects an institution c) Marketing research d) Evaluation research Applied research provides solutions to practical problems, help to identify critical factors in practical problem and develop alternative solutions. It is problem- oriented and action-oriented. As far as business research is concerned, the research in marketing carried out for developing a new market is treated as applied research. 1.2.4.3 Descriptive Research: It is nothing but surveys and fact-finding enquiries. It aims at description of the state of affairs. In this type of research in social science, researcher has no control over the variable. Census of India which is done after every 10 years is famous example of descriptive research which describes characteristics of Indian population. Other examples of descriptive study include Economic Survey of India, World Bank Reports, Pre-election Surveys etc. 1.2.4.4 Analytical Research: Analytical research is the research when the researcher uses facts and information already available and makes critical evaluation of the material. It focuses on analyzing data in depth and examining relationships with different perspectives in as many variables as possible. It is useful for measuring variables, comparing groups and examining association between factors. There is wide scope for conducting analytical research by using data collected by World Bank, International Monetary Fund, Government departments, Reserve Bank of India, NABARD, NSE, BSE, 9 Central Statistical Organization and Centre for monitoring Indian Economy (CMIE) etc. 1.2.4.5 Quantitative Research: Quantitative research is based on quantitative measurements. The phenomenon which can be expressed in terms of quantities to them quantitative research is applicable. 1.2.4.6 Qualitative Research: Qualitative research is concerned with qualitative phenomenon. When we are interesting to investigate 1.2.4.7 Historical Research: Historical research is a study of past records and information sources with a view to reconstructing Check your progress-3: (A) State whether the following statement is true or false (a) Pure research is also called as basic research or fundamental research. (b) Evaluation research is categorized under applied research. (c) Descriptive research aims at description of the state of affairs. (B) Choose most appropriate alternative: (1) Following are the examples of applied research: (a) The research which find out conclusions for social or business problem (b) The research which identify social, economic or political trends which affects an institution (c) Marketing research (d) Theory developing research (2) The contribution of pure research may be seen in major four areas (i) contributing new facts, (ii) putting theory to test, (iii) applied research, (iv) conceptual clarification and (v) interesting previously existing theories. (a) (i), (ii), (iii) & (iv) (b) (i), (ii), (iv) & (v) (c) (i), (ii), (iii) & (v) 10  (d) (ii), (iii), (iv) & (v) 1.2.5 Review of Literature: Review of literature is not mere reading of different resources. It is systematic process of reviewing scholarly written sources like books and research papers/articles published in journals etc. in the context of a particular research problem. With different purposes it is done which may include (a) to gain subject insight, (b) to be familiar with concepts relating to research problem, (c) to identify potential relationship between the variables, (d) to formulate hypothesis, (e) to identify methodology appropriate to research problem, (f) to check utility of data sources used by other researchers and (g) to learn how others have written their reports. After formulating of the problem, researcher has to conduct an extensive review of literature related to the problem under study. This covers review of books, journals, conference proceedings, government reports, published and unpublished studies and theses etc. Most important part of review of literature is the review of earlier studies on the similar topic or dimensions of research problem. We can understand there are two-folds of review of literature i.e. (i) review concepts and theories and (ii) review of previous research findings. Review of literature is required to carried out at different stages of research with different purposes: 1. At the beginning of research, to identify and select research problem, the researcher has to review source materials, encyclopedia, reference books, bibliography of doctoral dissertations, databases, theses in selected disciplines. At this stage, review of literature is done for gaining preliminary orientation about research topic, gaining ideas of recent trends in the field of knowledge, knowing work already done and finding out research gap to avoid duplication. 2. When the research problem is formulated, the review of literature is made for becoming familiar with appropriate research methodology, tools and techniques relevant to the study. Hence, it is necessary to review previous studies in the field, journals published and unpublished theses etc. 3. At the stage of operationalizing concepts, the researcher should review previous studies in the field, journals published and unpublished theses etc. It is needed to clarify the concepts and for knowing measurement techniques. 11 4. When the research proposal is prepared, review of literature include review of sources like illustrated books on research methodology and published and unpublished theses. It is required at this stage to develop alternative research designs and for formulating hypothesis and defining sample design etc. 5. At the stage of constructing data collection instrument, the researcher has to review the sources like illustrated books on research methodology and published and unpublished theses and especially specimens of instruments and scales appended to theses etc. Such review is don for gaining thorough knowledge of tools and measurement techniques. 6. At the time of writing theoretical chapters in the research report, the researcher should review journals, reference books and reports on the subject matter etc. The purpose of review at this stage is to notes and complete bibliography. 7. When findings and conclusions are written at that time also review is useful to strengthen them or justifying them with references of previous studies and also justifying differences in the findings by specific reference. By this discussion we can understand that the review of literature is not isolated part of research report however every part of research report is ornamented by glimpses of review of literature and their references either for comparison or justification. 1.2.6 Research Process: The research process consists of series of various actions, which are necessary to effective research work. The stages in research process are listed as, selecting research problems and stating of hypothesis, formulating of research design, collecting, analyzing and interpreting of data. Research process is a cyclic and interlinked with different stages. It is series of actions or steps necessary to carry out research effectively. This research process consists of steps such as (a) defining the research problem, (b) review of literature, (c) developing the hypothesis, (d) formulating the research design, (e) determining sample design, (f) data collection, (g) data analysis, (h) testing of hypothesis, (i) interpretation and (j) preparing research report. 12 1.2.6.1 Defining research problem: The first step of research process is defining research problem. The researcher has to identify and select the research problem. This stage answers about 'why' and 'what' research is to be conducted. When sales are dipping in a specific market, the marketer want to know why the sales are dipping in that market. Hence, the researcher should come from broader to narrow approach. Firstly, we can fix which is broader area, then identify topic and our research problem under this topic. When the researcher decides about research problem, he/she has some investigative questions on which you decide the objectives of a particular research and we can write the statement of the research problem. The problem has to be defined properly before research problem is taken for study. The issue for inquiry or investigation should be identified and specified in detail. Consequently it needs to define scope of the problem, justification of the problem and feasibility of the problem. 1.2.6.2 Review of literature: Review of literature is done with specific purpose of getting basic idea and conceptual clarity about research problem, identifying theoretical gap and methodological gap. The repetition of the same research problem is not expected. The review of literature assists him in this respect. It is also useful in formulating hypothesis. 1.2.6.3 Developing hypothesis: Hypothesis is tentative assumption which may probable answer to the research question. It is a working assumption for a specific research. It should be a logical statement. 'By formulating a series of reasonable guesses of cause and effect, we are able to understand and explore the events in our surrounding environment (Leedy and ormrod, 2001). For proper evaluation, the researcher needs to define specifics in operational terms. A hypothesis is a 'supposition made as a starting point for further investigation from known facts' (Pearsall & Trumble, 1996). It has aim of generating new knowledge. It should be novel and contain a testable prediction. Hypothesis may be formulated on the basis of earlier theories or review of literature or pilot studies. (The detailed discussion on hypothesis is made in chapter 2.7 page 52-68) 13 1.2.6.4 Formulating the research design: Research design is formulated while the research problem and objectives are defined. It is nothing but blueprint of the research proposed. It will clear all future things about research project i.e. when, how, why, where and who will do things about research. It will clear the methods, tools and techniques to be adopted, the methods of data collection, methods of data presentation and methods of data analysis and interpretation. Research design also explain the structure of the research project and the material to be used for it. On the basis of orientation of the research, the researcher has number of techniques for testing the stated objectives. Such orientation may be exploratory, descriptive or causal and so on. After defining research problem, review of literature and developing hypothesis, the research design is formulated for the proper planning and execution of the research. 1.2.6.5 Determining sample design: Sample design of the research project clears population and sample of the study. It also explains the adequacy of sample size, sampling method adopted and its justification, basis of selecting sample. The researcher has to make sample most representative of population. To avoid a probability of error in prediction, the selected sample should be free from bias. The degree of precision/error should be measurable and small enough to be deducted from the results. The selection of probability or non-probability sampling depends on the nature of research, degree of accuracy required and the time and financial resources available for the research. 1.2.6.6 Data collection: Data collection is a crucial stage of research process. It is based on research design. Before going into the field, scales of measurement is important issue addressed. Before execution of data collection instrument we have check measurement options. There is wide variety of data collection instruments available to any researcher. They may be broadly classified as secondary sources and primary sources of data. The data collection instruments include interviews, focus group discussions, telephonic interview, mail survey, questionnaire or schedule etc. To achieve objectives of a particular research, the researcher collect the data either quantitative or qualitative. This stage requires systematic collection of data with considering careful and rigorous quality checks to ensure the reliability and validity of the data collected. 14 1.2.6.7 Data analysis: Firstly the data collected should be refined and processed for evaluating the information in order to answer the research question(s) and test the hypothesis. The data editing is also required to minimize errors and improve accuracy. Data analysis depends upon the type of data i.e. quantitative or qualitative. Quantitative analysis or statistical analysis is divided into two parts i.e. descriptive statistics and inferential statistics. Qualitative data collected should be classified into broad categories to be able to arrive at any inference and conclusion. In the present age, software like MS Excel, SPSS or R etc. are used for data analysis. 1.2.6.8 Testing of hypothesis: Testing of hypothesis is also a part of data analysis. It is one of the important stages of research process. The researcher well understands his research objective, because the type of test that will be used has to go in meeting the research objectives. Test of hypothesis is an inference and a decision-making process in which we use sample information to test whether a population parameter is less than, equal to or greater than a specified value. Testing of hypothesis is made according to univariate (population) analysis, bivariate (population) analysis and multivariate (population) analysis. Test of hypothesis may be test of association or test of differences. Parametric or non- parametric test are alternatively applied for normal distribution and non-normal distribution respectively. 1.2.6.9 Interpretation: In simple words, an interpretation is the process of making the things simple and clear. This stage involves interpretation and generalization. Researcher evaluates and enhances data quality and assess potential for bias. Tools and techniques are applied to give shape to the collected data. The expert-opinions can be tools for qualitative research and the statistical methods can be tools for quantitative research. Interpretation is making things simple and clear. It is the skill of researcher to link the results with the research objectives, stating clearly the implications of the findings and it is done with objective and rational approaches. 15 1.2.6.10 Preparing research report: Preparing research report is the final stage of research process. The report is nothing but documenting whole research in a single report or communicating the research in a particular form. It is the report regarding whole research from problem formulation to the interpretation. The report communicates the reader all aspects of research i.e. problem formulation, objectives, conceptual framework, review of literature, scope and limitations of the research, research methodology, data analysis and interpretation, findings, conclusions and suggestions etc. It appends enclosures like specimen questionnaire and documents like financial statements etc. At the end, the bibliography is also appended. Check your progress-4: (A) Fill in the blanks: (a) …………. is systematic process of reviewing scholarly written sources like books and research papers/articles published in journals etc. in the context of a particular research problem. (b) We can understand there are two-folds of ………. i.e. review concepts and theories and review of previous research findings. (c) The ………… consists of series of various actions, which are necessary to effective research work. (B) Choose the most appropriate alternative: (1) Following is not the step of the research process…… (a) defining the research problem, (b) selling books (c) review of literature (d) developing the hypothesis (2) …………. is the last step of the research process. (a) data analysis (b) testing of hypothesis (c) interpretation 16  (d) preparing research report. 1.2.7 Methods of Research Research methods refer to the methods of researchers use in performing research operations. There are methods of research such as case study method, survey method, historical method and experimental method etc. 1.2.8 Case Study Method: The case study method is one of the most popular methods of research. Here, a case is a unit of study and case study is the study of a unit. As far as history of case study method is concerned, Fredric Le Play (1806-1882) firstly used this method in studying family budgets. After that, Herbert Spencer used this method in his ethnographic studies. The case study method is a tool of social investigation which was intitially developed in U. S. A. Actual introduction of case study as a method of sociological field research was made by Thomas and Zeneniecki and their case studies known as the 'Polish Peasant' by using personal diaries, letters, autobiographies and the files of social agencies n the search for concrete and specific details about personal conduct and group behaviour. Clifford R. Shaw made an intensive study of a series of such cases and subjected them to a careful analysis and comparison to unique and of common difference. It is extensively used in psychology, education, sociology, economics, political science, commerce and management and so on. 1.2.8.1 Meaning of Case Study Method: A case study is an in-depth comprehensive study of a person, a social group, an episode, a process, a situation, a programme, a community, an institution or any other social unit. 1) Burges termed the case study method as "the social microscope". 2) According to P. V. Young, “case study is a method of exposing and analyzing the life of a social unit”. (P. V. Young, Scientific Social Survey and Research, p.229). She also explained that "A comprehensive study of a social unit- be that unit a person, a group, a social institution, a district or a community- is called a case study". 17 3) Shivpao Young says that “case study method may be defined as a small inclusive and intensive study of an individual in which investigator brings to bear his skills and methods”. 4) According to H-Odum, "case study method is a technique by which individual factor whether it be an institution or just an episode in the life of an individual or a group is analyzed in its relationship to any other is the group". 5) Goode and Hatt say that "It is a way of organizing social data so as to present the unitary character of the social object being studied". 6) According to Sart a Queen, case study is the examination of a single situation, person, group or institution as complex wholes in order to identify types and process". Case study is the method which aims at studying deeply and thoroughly different aspects of a social unit. Case study method is a careful and complete observation of a social unit. This unit may be a person, a family, an institution, a cultural group or even the entire community. All characteristics of such case are studied under this method with comprehensive approach. In nutshell, we can say that case study is a careful and complete observation of a social unit, be that unit a person, a family or an institution, a cultural group or even the entire community. Case study method is a form of qualitative analysis wherein careful and complete observation of an individual or a situation or an institution is done. In this method, efforts are made to study such and every aspect of the concerning unit in minute detail. With its limitation, generalization may not be possible, however, inferences can be drawn. 1.2.8.2 Characteristics of Case Study Method: (a) Case study method is a single unit analysis. (b) It is an intensive study of a social unit. (c) Case study method is integrated study of all facets of a single unit. (d) Case study method makes qualitative analysis of characteristics of a unit under study. (e) The interrelationship can be studied by case study method. (f) The behavioural pattern of unit can be studied by using case study method. 18 (g) It helps to generalize social science. (h) It is flexible to adopt any data collection methods. (i) With using case study method, the mutual interrelationship can be studied. 1.2.8.3 Process of Case Study: The case study has a specific process to accomplish the objective of finding characteristics of a unit under study. Such process of case study is divided into following steps: (a) Identifying specific problem (b) Collection of data (c) Analyzing problem (d) Applying remedies (e) Evaluating and Conclusion (f) Taking follow-up (a) Identifying specific problem: In the first step of case study method, specific research problem is identified. The basic issues are defined. It selects and formulate research problem in this step. (b) Collecting data: The collection of data is the second step of case study method. It also collects data regarding a particular case. Such data can be collected from documents such as correspondence, diaries and personal and historical documents etc. The researcher can also collect the data by taking in-depth interview. (c) Analyzing problem: The research problem is divided into rational easily understood divisions. Such divisions can be examined separately. Analyzing research problem is a process of comparing data collected according to objectives set and identifying deviation, if any, and to influence it. (d) Applying remedies: After defining and analyzing the problem, the suitable remedies are suggested to solve the problem. It plays important role in case study method. (e) Evaluating and Conclusion: The case study method is used in education, law, human resource management, organizational behaviour, marketing and so on. 19  Different solutions should be suggested to the problem concerned. After evaluating data collected regarding a particular unit, the researcher should come out with conclusion. (f) Taking follow-up: After identifying solution and applying it to a particular problem, the researcher should take follow-up for determining effectiveness of remedial actions. 1.2.8.3 Merits of Case Study Method The case study method has some merits or advantages to the researcher and the society. (1) Intensive study: With the help of case study method, it is possible to study intensively all aspects of a unit under study. It aims at studying everything about few units. The study is done in comprehensive manner under this method. (2) Flexible data collection: The researcher has freedom to approach the problem from any angle he so desire. There is no need of sampling in this method. The researcher can use more than one data collection method such as depth interview, questionnaire, documents, individual letters and study reports etc. (3) Useful for formulating hypothesis: The case study method helps to formulate hypothesis. Goode and Hatt say ‘the depth of insight afforded by case study will yield fruitful hypothesis for later, full scale study’. (4) Less expensive: As compared to laboratory experiment, field experiment and sample surveys, the case study method is less expensive. (5) Comparative study: If two sets of cases are picked up, the independent case studies can be done. After such case studies, the comparative study will be possible. (6) Real and enlightened record: This method helps us to collect real and enlightened record of personal experiences. It is useful in using sociological material as a real record of personal experience. (7) In-depth study: In case of survey it is not possible to go into detail for each and every unit. However, case study method provides an opportunity to make in- depth study of social unit. 20 (8) Suitable for diagnostic study: The case study method is most suitable for diagnostic research and to develop strategy to solve the same problem. (9) Useful for change study: The case study method is useful for understanding the social change. The immediate reading of change is possible by this method. 1.2.8.4 Demerits of Case Study Method: (1) Lack of objectivity: The case study method involves the relationship between a researcher and the unit under study, which develops personal feeling and emotions affects. Due to these effects, the objectivity is lost. Hence, there is danger of subjectivity. (2) Comparison not possible: In social research, values, attitudes, behaviour, reactions, circumstances etc. of human being are different from each other. So it is very difficult to find out to identical cases. Hence, it is not possible to compare two cases. (3) Time and money consuming: The case study method is intensive study which study the all aspects and also its past, present and future. It requires more time, more money and more man-power as it requires to study the natural history of social unit minutely. 1.2.9 Survey Method: If we look into the history of survey, it is found that in 300 B.C., Herodotus talked of survey of population of Egypt and as such this method in crude form was known to the people. In 11th Century, William, the Conqueror’s work ‘Dooms Day Book’ also has traces of social investigation of problems with the help of surveys. It became scientific in the writings of John Howard who conducted a survey of prison houses of England and Wales. Le play, a French Social Reformer, undertook research on the conditions of workers, after industrialization. Earnest Engles, a German Economist made research on budget of families. He came to conclusion that the pattern of desire of the people differed on the basis of their income. Sorokin, the first American scholar, he was inspired by the work of Le Play. Others who follow the same include Zimmerman and Trampton, Llyod Warner, Ralph Linton etc. 21  Charles Booth studied poverty of London and used survey method and written book ‘Life and Labour of People of London’. He introduced statistics in social survey. B. S. Rowntree studied economic conditions of the people on large scale. He made survey of 16,362 families in New York. Survey conducted twice in 1899 and in 1936. He came to the conclusion that economic condition of 10% of the population had improved. Arthur Bowley picked up middle size towns in England. He wrote book ‘Livelihood and Poverty’. He made survey twice, used sampling techniques and introduced comparative method in his study. 1.2.9.1 Meaning of Survey Method Survey is the research method which is overlooking the phenomenon. It is common method of diagonising and solving social problem. It is useful for method of social investigation which is confined to particular area. Under this method, data may be collected through observation, mailing questionnaire or interviewing. This is the method of gathering data from respondents thought to be representative of some population. According to Festinger and Kat, “Many research problems require systematic collection of data from population through the use of personal interviews or other data gathering devices. These studies are usually called surveys, especially when they are concerned with large and widely diverse groups of people.” Mark Abram says, “A social survey is a process by which quantitative facts are collected about the social aspects of a community composition and activities.” Bogardus E. S. has defined survey as “A social survey is the collection of data concerning the living and working conditions, broadly speaking the people in a given community.” According to E. W. Burgess, “A social survey is the scientific study of conditions and needs of a commodity for the purpose of presenting a constructive programme of social advance.” As per S. M. Harison’s perception, “A social survey is a process by which quantitative facts are collected about the social aspects of a community’s composition and activities.” 22  P. V. Young has defined social surveys in comprehensive manner as follows: “Social surveys are concerned with a. The formulation of a constructive programme of social reform b. Amelioration of current or immediate conditions of a social pathological nature, which have definite geographical limits and definite social implicaptions and significance c. These conditions can be measured and compared with situations which can be accepted as model.” On the basis of overview of all above definitions of social survey, we can summarize the following characteristics of survey as given below: (a) Social Survey are continued in Modern Times (b) Characteristics of Modern Social Surveys (c) Large Scale Social Surveys (d) Regular Social Surveys (e) Inter-disciplinary Nature (f) No Collection of Unnecessary Data (g) Employment of Trained Field Workers 1.2.9.2 Process of Survey: The process of survey can be divided into different stages such as selecting problem, defining objective, definitions, operationalization of concepts and constructs, sampling, designing instrument and pre-testing, field work and data collection, processing of data and tabulation, analysis of data and reporting. (1) Selecting problem: The first stage of survey is selecting problem. The problem should be defined in such a way that it must be clear and precise. It should be socially useful. (2) Defining objective: The aim of the study should be clearly defined in the line of research problem already formulated. (3) Definitions: The scope of the study should delimited and concepts should be clearly defined so as to measure them properly afterwards. 23 (4) Operationalization of concepts and constructs: For the purpose of analysis, variables should be properly measured. Hence, concepts and constructs should be operationalized for measuring idexes and scales. (5) Sampling: Census survey is not possible all the times. The researcher can select sample which is representative units of population. (6) Designing instrument and pre-testing: Tools for data collection should be designed properly in the light of objectives of the study. Schedule can be drafted and it can be administered in pilot survey and it can be pre-tested with reliability and validity of scales for the constructs. (7) Field work and data collection: After pre-testing, the data can be collected from the respondents. While collecting data, situation, mindset of respondent, attitude should be taken into account. Psychological factors always affects on data collection in survey method. The researcher should try to collect realistic data with objectivity. (8) Processing of data and tabulation: The data collected are processed which include data cleaning, data editing, data transcription etc. After that data are tabulated with the specific purpose of analysis as simple frequency table, one- way table or two-way table, cross-table etc. (9) Analysis of data: After processing of data, quantitative analysis is carried out in two parts: descriptive statistics and inferential statistics. As per the research design, data are analyzed with specific perspective. (10) Reporting: The research report may be prepared in the detailed form or it can be published in the form of research paper/ article. 1.2.9.3 Types of Survey: Social surveys can be of different kinds. Survey can be very limited or very comprehensive in nature. It can be conducted by the government or private agencies. Briefly we can see the types of surveys as follows: (1) Census or Sample Survey: Each and every unit of population is investigated in census survey. In limited geographical scope, an individual researcher can adopt sample survey. Otherwise, census survey may be time-consuming, costly and required more efforts. Sample survey is limited to representative units of population. It is a method of research which implicit that findings on the basis of 24  data analysis of sample is attributable to whole population. Findings are put forth about whole population on the basis of analyzing sample. It is possible only when population is homogeneous. (2) Regular or Ad hoc Survey: When survey is conducted after regular interval, it is called regular survey. Regular surveys include surveys by RBI, Economic Surveys of India, Census Survey made by the Registrar General of India etc. When survey is conducted to find out some information required for a particular purpose, it is called ad hoc survey. In this case, purpose of the survey is over as soon as the object is achieved. The information required on regular nature, the regular survey is suitable; however, ad hoc survey is suitable to collect data related to certain specific subject matter. (3) Direct or Indirect Survey: Direct survey interprets facts quantitatively. Indirect survey concludes results out of the available data. (4) General or Specific Surveys: Entire community is studied in a general way, in case of general survey. Without any hypothesis, when general information of any population is purpose of the survey, it is called general survey. General surveys include Economic Survey of India, Survey of Banking etc. When survey is conducted with specific aspect of the community, it is called specific survey. It includes unemployment survey, health survey, survey of children for identifying malnutrition etc. (5) Social or Economic Survey: When social aspects are covered by the survey it is called social survey. Social surveys may be based on demographic characteristics of a group of people, social environment of people, people’s opinion and attitudes and people’s behaivour and activities etc. Economic aspects are involved in economic surveys. Economic surveys may include the aspects like economic condition of people, working of economic units and operations of an economic system etc. (6) Official and Non-official Survey: Government can conduct official surveys for policy prescription and intervention or welfare purposes. When surveys are done without any help from government, which are done by individuals or organizations. Such surveys are called non-official surveys. 25 (7) Personal or Postal Survey: When the surveyor personally collect the information from respondents, it s personal survey. If surveyor gets information through post, it is postal survey. (8) Primary or Secondary Survey: When surveyor himself starts work on particular subject and personal collects data, it is primary survey. When surveyor does not collect data on his own, instead he depends on the work which is already done by somebody else, it is called secondary survey. 1.2.9.4 Merits of Survey Method There are some advantages of survey method which are as follows: (1) Versatility: Survey method is the only practical way to collect various types of information such as personal characteristics, socio-economic data, attitude, opinion, experiences and expectations etc. (2) Thorough study: Survey method enables to study the problem thoroughly and deeply in all aspects. By this method, causes of the problems also can be studied. Remedies can be used to find solution to the problem. (3) Generalization: Survey method provides drawing generalization about even large population on the basis of sample studied. (4) Useful or policy prescription: Survey method is very useful for administrators and policymakers. Many states have taken legislative measure as a result of findings of social surveys. (5) Flexibility in method of collection: This method is flexible to use of various methods of collecting data. (6) Finding out unknown facts: Social surveys are able to find out unknown facts. In every society, there are certain hidden problems which do not come to light and hence not known to society. A survey reveals these facts and once these are focused new theories are expounded. (7) Verifying theories: Survey is useful instrument for verifying theories. 1.2.9.5 Demerits of Survey Method Social surveys are really time consuming and also costly. So those should be conducted with care and conscious. Survey method has certain limitations/ demerits. 26 (1) Time consuming: Survey method is very time consuming. Sufficient time is required to spend to complete survey. (2) Feasibility of data: Survey method primarily collects data from primary sources such as individuals, households or institutions. Its feasibility depends upon willingness and cooperation of the respondents. (3) Costly: Survey method has limitation of human and economic resources. Heavy funds are needed for getting every survey conducted. Manpower is another problem of survey. It is required in the form of trained investigators, field workers etc. Administrative and field staff is required for survey method hence it is costly method. (4) Sampling Error: When sample survey method is adopted, it is subject to sampling error. It is subject to sampling error. Its findings must be interpreted with considering the probable implications of these errors. (5) Response Errors: Survey method depends on verbal responses. At the time, the respondent can give untrue or misleading answers. It is not possible all the times to identify them. Hence, survey method is subject to response error. There is no mechanism to verify the data. (6) Not deep study: It is blamed that survey touches only the surface of the research field and does not make deeper study. (7) Unsuitable for past problem: Survey method can be used only for current problem. Problems in the past cannot be explored by this method. 1.2.10 Historical Method: When the researcher wants to investigate events and phenomenon in the past, the historical method is adopted on the basis of historical documents and evidences. A. N. Whitehead, a logician once said that “each emerging is perceived as containing within itself all its past and seeds of its future”. Historical study is a study of past records and other information sources with a view to reconstructing the origin and development of an institution or a movement or a system and discovering the trends in the past. Historical method is described as “the induction of principles through research into the past and social forces which have shaped the present”. 27 1.2.11 Experimental Method: If researcher wants to assess the effect of independent variable on dependent variable by artificially controlling the effect of rest of the variables. For e.g.- Crop yield per hectare is dependent variable and the factors such as soil fertility, irrigation, quality of seed and cultural practices which influences the yield are independent variables. Check your progress-5: (A) Fill in the blanks: (a) Fredric Le Play (1806-1882) firstly used this method in studying……. (b) Burges termed the case study method as ……….. (c) According to P. V. Young, ………. is a method of exposing and analyzing the life of a social unit. (d) Each and every unit of population is investigated in …………. (e) The information required on regular nature, the ……. survey is suitable (B) State whether the following statement is true or false (a) When survey is conducted after regular interval, it is called regular survey. (b) Government does not conduct official surveys for policy prescription and intervention or welfare purposes. (c) Case study method makes qualitative analysis of characteristics of a unit under study. 1.3 Summary: Human being is benefited by the research undertaken in various subjects. This unit covered the meaning and objectives of research; the research in Commerce and Management; types of research; review of literature; research process; and the methods of research. This unit also includes the meaning, advantages and disadvantages of case study method and survey method. The objectives of research are creating knowledge, describing characteristics, diagnosis of problem, testing relationship and welfare objective. The research in commerce and management is constantly done for effective and actionable decision-making. There are different 28 areas of business research which include human resource management and organizational behaviour, marketing management, financial management and accounting, operations and production management and supply chain management and entrepreneurship and business models etc. There are different type of research which may be pure research, basic research, applied research, descriptive research, analytical research, quantitative research and qualitative research etc. Review of literature is systematic process of reviewing scholarly written sources like books and research papers/articles published in journals etc. in the context of a particular research problem. With different purposes it is done which may include (a) to gain subject insight, (b) to be familiar with concepts relating to research problem, (c) to identify potential relationship between the variables, (d) to formulate hypothesis, (e) to identify methodology appropriate to research problem, (f) to check utility of data sources used by other researchers and (g) to learn how others have written their reports. The research process consists of steps such as (a) defining the research problem, (b) review of literature, (c) developing the hypothesis, (d) formulating the research design, (e) determining sample design, (f) data collection, (g) data analysis, (h) testing of hypothesis, (i) interpretation and (j) preparing research report. There are methods of research such as case study method, survey method, historical method and experimental method etc. A case study is an in-depth comprehensive study of a person, a social group, an episode, a process, a situation, a programme, a community, an institution or any other social unit. Survey is the research method which is overlooking the phenomenon. It is common method of diagnosing and solving social problem. It is useful for method of social investigation which is confined to particular area. Under this method, data may be collected through observation, mailing questionnaire or interviewing. This is the method of gathering data from respondents thought to be representative of some population. Historical study is a study of past records and other information sources with a view to reconstructing the origin and development of an institution or a movement or a system and discovering the trends in the past. If researcher wants to assess the effect of independent variable on dependent variable by artificially controlling the effect of rest of the variables, it is experimental research. 29 1.4 Terms to Remember: 1. Research: Research is the systematic method of discovering the new facts or verifying the old facts, their sequences, inter-relationship, causal explanations and the natural laws which govern them.’ 2. Pure or Basic Research: Pure research is also called as basic research or fundamental research. Fundamental research may include (a) the research deals with natural phenomenon and (b) the research related to human behavior make generalization. 3. Applied Research: Applied research is the research which is to find out a solution for practical problem which is being faced by society or business etc. 4. Descriptive Research: Descriptive research is nothing but surveys and fact- finding enquiries which aims at description of the state of affairs. 5. Analytical Research: Analytical research is the research when the researcher uses facts and information already available and makes critical evaluation of the material. 6. Review of Literature: Review of literature is a systematic process of reviewing scholarly written sources like books and research papers/articles published in journals etc. in the context of a particular research problem. 7. Case Study Method: A case study is an in-depth comprehensive study of a person, a social group, an episode, a process, a situation, a programme, a community, an institution or any other social unit. Case study is the method which aims at studying deeply and thoroughly different aspects of a social unit. Case study method is a careful and complete observation of a social unit. 8. Survey Method: Survey is the research method which is overlooking the phenomenon. It is common method of diagnosing and solving social problem. It is useful for method of social investigation which is confined to particular area. Under this method, data may be collected through observation, mailing questionnaire or interviewing. 9. Historical Method: Historical study is a study of past records and other information sources with a view to reconstructing the origin and development of an institution or a movement or a system and discovering the trends in the past. 30 10. Experimental Method: If researcher wants to assess the effect of independent variable on dependent variable by artificially controlling the effect of rest of the variables, it is an experimental research. 1.5 Answers to Check your progress Answers to Check your progress: Check your progress-1: (A) – (a) Research, (b) systematic and (c) valid (B) – (a) True and (b) False Check your progress-2: (A) Answer: (a) False, (b) True, (c) False, (d) True and (e) True. Check your progress-3: (A) Answers- (a) True, (b) True and (c) True (B) Answers- (1)- (d) and (2)- (b) Check your progress-4: (A) Answer- (a) Review of literature, (b) review of literature and (c) research process (B) Answer- (1) - (b) and (2) - (d) Check your progress-5: (A) Answer- (a) family budgets, (b) "the social microscope", (c) case study, (d) census survey and (e) regular (B) (a) True, (b) False and (c) True 1.6 Exercise: 1. What is research? Describe the objectives of research. 2. Explain the types of research. 3. Explain the review of literature, in detail. 4. What is case study method? Describe its merits and demerits. 5. What is survey method? Describe its merits and demerits. 31 6. Write short notes: (a) Pure research (b) Historical research method (c) Research process (d) Experimental research method (e) Descriptive research 1.7 Reference for further study: Kothari, C. R. and Garg, Guarav (2016). Research Methodology Methods and Techniques (Third Edition), New Age International Publishers, London. Krishnaswami, O. R. and Ranganathan, M. (2011). Methodology of Research in Social Sciences, Himalaya Publishing House, Mumbai, Second edition, Sixth print. Redman LV &Mory AVH (1923) The Romance of Research, pp. 6-10. Young, P. V. (1953). Scientific Social Surveys and Research. New York: Pzentice- Hall Inc., 1949. 621 pages. Nursing Research, 2(2), 95. Slesinger, D. and Stephenson, M. (1930) The Encyclopaedia of Social Sciences. Vol. IX, MacMillan Publications.


32  Unit-2 Research Design 2.1 Objective After studying this Unit you will be able to: 1. Understand designing research protocol for research problem, the concept and types of hypothesis. 2. Prepare research design. 3. Explain types of research designs, types of hypothesis and types of sampling. 4. Understand the sampling design and types of sampling methods. 5. Find relationship between research question, hypothesis and objectives. 6. Explain the process of formulation of hypotheses and do it in actual practice. 2.2 Introduction Previous chapter narrates the basic concepts of research. We have studied the definition of research and various objectives behind research. Research is purely a science hence; it flows through scientific process from formulation of research problem, finding the possible solution to the problem under study and designing the implementation of the solution to achieve objectives. In commerce and management, dealing with various business problems, we adopt different research techniques and research methods. Survey method and case study method are popularly used, which has been discussed in sufficient length in the previous chapter. Manager and entrepreneur is a decision maker and for taking decisions he needs data. Since the management decisions are rational decisions and not impulse, the decisions have to take on the basis of data. The data would be available with the organization and if the data is not available then it needs to be collected. At this instance of collecting needed data, the research plays role. This chapter is a step ahead to previous chapter and discusses research designs to be adopted to resolve problems before management by collection and analysis of relevant data. 33 2.3 Presentation of Subject Matter. Section – 1 Research design is a blue print, a comprehensive and detailed document which facilitates research in systematic and scientific manner. The document is a detailed plan which answers every question arouses regarding research problem under study. Unlike while building a home one has a detailed plan on a paper (often called as blue print) and the home is build accordingly likewise the research design is a document carries every details of conduct of research which drives towards a plausible, applicable solution of a problem under study. The outcome of research always helps managers in decision making with substantial evidences of facts. See in our day to day life the activities we undertake we have planning. For a day away from home to picnic or trekking we have planning on a piece of paper, here we are taking of research which is expected to resolve a problem or help in decision making to undertake few future strategies. The document research design is also termed as research protocol. Let’s understand the definition of research design. 2.3.1 Definition of Research Design: Various authors have defined the concept research design, few definitions are mentioned below. A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure (Kothari & Garg, 2015) “A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure”. – (Selitiz, 1965) “A Research Design is a master plan specifying the methods and procedures for collecting and analysis the needed information.” (Zikmund, 2008) “The planned sequence of the entire process involved in conducting a research study.” Prof. Miller 34  “The design results from controlling general scientific model into varied research procedure.” (Young, 1939) “A research design provides the framework to be used as a guide in collecting and analyzing data.” “A research design is a logical and systematic planning and it helps directing a piece of research.” (Nargundkar, 2008) From the above definitions we learn that a. It is a systematic plan b. It directs the entire research activity towards a specific point. c. It provides a framework to researcher to act within d. It specifies methods and procedures to conduct research e. It laid down condition of collection and analysis of data. In short, research design is systematic plan to find out the answer for a research question under study. The research design mainly has six components as depicted in the following figure. Figure 1: Components of research design. Invariably research design is expected to answer following WH questions. 35  What : What is the research problem under study?. What hypothesis put to test ? and what are objectives of the study?. Why : Why the study has been undertaken? What is the importance of study? In what way and to whom the studey is going to be benefited? Which: Which data and findings to be consider for building suggestions/prescriptions and building models to solve the research problem. Whom: Sampling design. Whom to approach to get the variabels, to get the data? The experts and the samples. When: When to conduct the study? Period of conduct of study. How: Statistical Design. Operational Design. Observational Design. How to implement the research design? this talks about implementation plan, opertional plan. How to investigate? How to collect the data? How to analyse the data? Source: (Composed by author) While undertaking any research project students have to have above questions in the mind to answer. The thought process should revolve around these questions. This habit of thinking often around the questions would help to come out with quality research and quality project. The question ‘what?’ answers the major issue that what researcher/student wants to do. The research problem is a set of questions to be answers. The answers to the question we do not know and need to find out with conducting research. The question ‘what?’ also set the hypothesis to test and laid down objectives of the study. Researcher gets the specific point to attain from answering this question ‘what?’ Now why to conduct this research? or why to undertake this research? The answer to this question narrates importance of research. And whom the research is going to be benefited? It means the number of stakeholders going to be benefited because of this research. And in what way the stakeholders are going to be benefited? Thee answer to why details the importance of research. 36  Which data and findings to be considered for building suggestions or prescriptions is answered by question which? Researcher collects the data on which the analysis of data is done. Analysis leads to some findings and findings leads to suggestions. The decision of appropriate scales, decision on acute variables to measure what we want to measure is important. Appropriateness of selection of variables and measurement scales only would help appropriate analysis and drawing findings. Research design also narrates the period a study to be undertaken in detail. The studies in social sciences have time value. The social scenario may leads to different opinions as per the change in time. For instance the workers may have a certain opinion at the time economy going well towards their emoluments and facilities receive by employer. The same workers may have different opinion on the same issue when the economy is in recession. The research work in financial management, stock market prices of shares, economics which are always time related. So the decision of when the research is to be undertaken or at what time frame the research has undertaken carries apex importance. The next question while preparing research design to ask is how to conduct the research. This question gathers the procedural stages of research design. Every research design especially in social sciences has four important aspects as, 1. Sampling design 2. Observational design 3. Statistical design and 4. Operational design Sampling design talks about the population, sampling unit, and overall sampling frame. Whom researcher is going to approach and ask for the information, data or opinion? How many individuals or organizations to approach are also decided in sampling design i.e. number of samples to be approached. The detailed discussion of sampling is done in the last section of this chapter only. Observational design specifies conditions to observe, what to observe and note down. The observational design is more relevant to qualitative studies. But even in quantitative studies few qualitative observations plays role. For example, while studying labour welfare facilities in a factory it if often needs not to ask about 37 availability of pure drinking water facilities, fire extinguisher, sufficient light arrangements and ventilation and the like. These aspects merely can be observed by researcher and utilized for data analysis. There are many aspects in quantitative research as well which instead asking needs to be observed and utilized during data analysis. A few research reports carry general observations or general findings. The general observations and findings are mentioned are the outcome of observational design. Statistical design decides on processing and analytical tools of be applied on collected data. Various statistical tools are available viz. measures of central tendency, measures of dispersion, correction, regression and so. The very purpose of teaching these statistical tools to students is to make use of the same for better analysis of data and drawing meaning out of the analysis. The analysis, which is to be used for decision making. It is expected that students should practice using this in the project report and make project enriched. At the time of research design researcher decides on data collection and select the tools to be used for data analysis. Operational design explains how the entire research design is to be executed. It is detailing of steps and procedure to execute the field work, data collection, data feeding and data analysis within a given resources especially time and money. So, by this time you might have come to know how important these WH questions are. 2.3.2 Types of research designs: There exist two basic research designs one is fundamental research also known as ideal or basic research and second is applied research also known as practical research. Fundamental research meant to bring afloat the new facts which has not yet discovered by any one. The detailing of these facts and further probing into its relations with variables is basic task of fundamental research. Fundamental research is a continuous process since there are many unexplored things in the nature and even many unexplored facts about human behavior as such. So till the existence of universe the fundamental research is warranted. We have very eminent research institute dealing fundamental research, which is pride of India that is Tata Institute of Fundamental Research, Mumbai. (TIFR) are basically into basic science, technology and computers. Whereas applied research addresses real life problem. The 38 knowledge contributed by fundamental rese research arch is bringing in use to resolve real life problems. Besides these two basic research designs we have following four research design to study. Types of Research Design Exploratory Research Design Descriptive Research Design Diagnostic Research Design Experimental Research Design Source: (figure composed by Authors) Research designs mentioned above has a logical sequence. To suffice ice newly evolved want, to answer newly evolved questions and to find out solutions to newly evolved problems, exploration is warranted. The outcome of exploratory research is particularly in social sciences is the categories and variables which influenc influenced ed human behavior in different capacities. The different capacities mean, human as a social animal and human as a customer. These Variables out of exploration are enough to describe population using descriptive research and establishment of relationships is done using diagnostic research design. The outcomes of diagnostic research are tested over a period of time in different circumstances. This is to generalize outcomes to the population. This is 39 done using experimental research design. Successful experimentation is then generalized to population as a solution to problem defined in exploratory research design. A cycle of proposing solution to a problem hence, begins at exploration and end up with experimentation. 1. Exploratory Research Design Very meaning of exploration reveals to bring a float altogether new thing. Exploratory research design is used to find the solution for new problems. Definitions of exploratory research designs are, Exploratory Research Design refers to, “Formulating a problem for more precise investigation or of developing the working hypothesis from an operational point of view.” – (Kothari & Garg, 2015) Exploratory Research Design refers to, “Conducted as a preliminary step to clarify and define the nature of a problem.”- (G., 2013; Zikmund, 2008) “A Flexible design which must provide opportunity for considering different aspects of the problems.” –B.D.Kulkarni, D. (1996) “It is systematic scientific and at times the only when through which a social scientists can check whether an idea, that sounds promising to him, has much appeal in reality or not.” –Hasouneh, A. B. (2003) Exploratory research manifest with something new in the domain knowledge. The exploration facilitates further thinking in different perspective. It may also facilitate the discussions and debates which are well explained and tested using descriptive research design. Exploratory research design is very flexible because, it is very difficult to predict the time exploration would require and also difficult to limit the resources it requires. No one can guarantee of results out of exploratory research. We have heard Edison tried numerous to illuminate electrical bulb and he quote, “I have not failed. I've just found 10,000 ways that won't work.” Research scholar registered for degree does not deal with exploratory research since it is not sure when the research will complete? whether it will complete or not? For example we have to develop a model depicting green buying behavior. That is a model depicts behavior of consumers towards purchasing the environment 40 friendly products/green products or we can say the products produced without hearting the environment. Now a day we are talking about sustainable businesses. And the sustainable businesses include care for an environment. Like organic vegetables, fruits etc. Now for the development of such models research need to find out the input variables, process variables i.e. buyers thinking process and output variables. Since every individual has their own thinking process and the behavior to reflect towards such products. Hence the study needs to probe into the psychological variables to construct the model. Since the model building involve psychological variables which are by nature very complex to understand. The mere development of theoretical model does not suffice purpose but the step ahead the model needs to put to test as well for its implementation. The successful testing of model gives inputs to the businesses dealing in green product. Such studies which are not much addressed by researcher needs exploration and these are need to be addressed using exploratory research design. 2. Descriptive Research Design Outcomes of exploratory research design are the inputs to the descriptive research design which facilitates to check the scenario of variables manifested from exploratory study within the existing population. Descriptive research design answers the question, what it is about. And it does not probe into the reasons behind the population scenario towards defined variables. Definitions of descriptive research design are, Descriptive Research Design refers to, “Which are concerned with describing the characteristics of a particular individual or of a group.”- Garg , C. R. (2014) “The Descriptive research designs enable researcher to describe or present pictures of a phenomenon or phenomena under investigation.” –Hasouneh, A. B. (2003) “The true beginning of scientific activity consists…describing phenomena and (Only) then in proceeding to group, clarify and correlate them...” –Bhandarkar, W. &. (1992). Features of descriptive research design are, 41  Descriptive research design meant to explain the population features with respect to phenomena under study. What it is? It has resource constraints especially time and money The design is rigid and does not allow many changes It brings in use descriptive statistical tools. For example a study of investment pattern of people. Now this study studies merely the investment made by samples under study drawn from a specific defined population in different investment avenues. The study further may narrate the association of demographic profile with the investment made, such as, inclination of male and female samples towards investment. Or the inclination of different socio economic class towards investment in different avenues and the like. This study only describes the population under study about the investment pattern. The study does not necessarily explain the reasons behind the same. 3. Diagnostic Research Design Variables well defined in descriptive research design are taken to find out its interrelations, dependability with gamut of variables and the like. The design used to seek some sort of solution to the problem observed and under study. It purposefully establishes the relationships between variables to find out the extent of different variables are contributing to the existing problem and the like. Definitions of research designs are, Diagnostic Research Design refers to, “Determining the frequency with which something occurs or its association with something else.” –Garg , C. R. (2014) Diagnostic Research Design refers to, “Discovering what is happening, why is it happening and what can be done about.” – M.Ranganatham, D. O. (2005) “It is the most typical and simple problem solving strategy of the helper faced with problems and crises on the job.” –B.D.Kulkarni, (1996) “It may be concerned with discovering and testing whether certain variables are associated.” –Bhandarkar, W. &. (1992) “Diagnostic Research Design refers to scientific differentiation among various conditions or phenomena for the purpose of accurately classifying these conditions.” 42 - Hasouneh, A. B. (2003) Above definitions concludes that diagnostic research design is used for problem solving using different inferential statistical tools. Now for example continuing with the case we have seen above about study of investment pattern. If researcher studies the determinants of investment pattern then it requires diagnostic research design. Here researcher is finding the variables which are influencing the decisions behind investment and the investment in a specific investment avenue. The outcome of diagnostic research design could be a model for example regression model and the like. For a defined population under study we can state that the defined variables determine the investment in shares, mutual funds, bank FD etc. which ultimately help decision maker to decide upon the segment to target and focus advertising efforts. 4. Experimental Research Design Experimentations are a base in physical sciences like chemistry, physics, botany and the like. In social sciences especially experimentations are now widely used to find out behavior of human being. In management human beings are considered as a customer, consumer, employees, middlemen and the like. Studying behaviour of such human being under different circumstances is of use in decision making. Hence, management practitioners and researchers are using experimental research design. For example, if a marketer shows a model of particular product which helps in the safeguard of your house and property in house like gold, silver and cash in your home. Looking towards the model which cost Rs. 2000/- and not more if marketer ask you being a sample, that after launching this product would you buy this? Almost 90% of samples would reply Yes!! they would buy it. When the product actually get launched in the market the sales does not turn out to 90% of targeted segment. Now the question is why it is so? It is because the circumstances marketer ask about possible purchase was different that the circumstances of actual purchase. Say if I ask your opinion on a transaction happened with you, that on a retail counter you bought a product and paid the amount. Say a product priced Rs. 160/- you gave Rs. 200/- in return you get Rs. 50/- instead of Rs. 40/- what would you do? The general answer I will receive is rather almost all would reply that I will bring to the notice this fact and return Rs. 50/- for Rs. 40/- right? If it actually happens with you, what would be the scenario? The scenario would be different. Isn’t it? So the 43 point here is there is likely to be difference in opinion and actual act. What is more reliable for researcher to know is actual act. And measurement of actual act is at the core of experimental research. Experimental research design necessarily follows a hypothesis and seeks relationship between two or more variables. “More than a hundred ways of conducting such experiments and each these may be termed as a experimental design.” -Donald Cambell & Julian Stanley “Experimental research is designed to assess the effects of a particular variables on a phenomenon by keeping the other variables constant or controlled.” – M.Ranganatham, D. O. (2005) “In Experimental Design the researcher can often exert a great deal of control over extraneous variables and thus ensure that the stimuli in the experimental conditions are similar.” – Hasouneh, A. B. (2003) “Experimental method means those methods wherein researcher tests hypothesis of casual relat