MCOM_BRM_Sem3_Unit1_(3)_jan2023.pdf

UNIT INTRODUCTION TO RESEARCH Names of Sub-Units Introduction, Business Research, Objectives of research, Types of Research, Research Approaches, Significance of Research, Research Methods versus Methodology, Research Process, Research Application in Business Dec...

UNIT INTRODUCTION TO RESEARCH Names of Sub-Units Introduction, Business Research, Objectives of research, Types of Research, Research Approaches, Significance of Research, Research Methods versus Methodology, Research Process, Research Application in Business Decisions Overview Research is a part of any systematic knowledge. It has occupied the realm of human understanding in some form or the other from times immemorial. The thirst for new areas of knowledge and the human urge for solutions to the problems, has developed a faculty for search and research and re-research in him/her. Research has now become an integral part of all the areas of human activities. Research in common parlance refers to a search for knowledge. It is an endeavor to discover answers to problems (of intellectual and practical nature) through the application of scientific methods. Research, thus, is essentially a systematic inquiry seeking facts (truths) through objective, verifiable methods in order to discover the relationship among them and to deduce from them broad conclusions. It is thus a method of critical thinking. It is imperative that any type of organization in the globalized environment needs systematic supply of information coupled with tools of analysis for making sound decisions which involve minimum risk. In this Unit, we will discuss at length the need and significance of research, types and methods of research, and the research process JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research Learning Objectives In this Unit you will learn –  Understand the meaning of research  Distinguish between different kinds of researches  Understand the importance,  need and significance of the research  Types of Research  Research methods  Research Approaches  Significance of Research  Research process  Application in Business decisions Learning Outcomes At the end of this unit, you would:  Explain the meaning of research,  Differentiate between Science and Knowledge,  Discuss the need for research in business,  Classify research into different types,  Narrate different methods of research,  List the difficulties in business research, and  Explain the business research process and its role in decision making Pre-Unit Preparatory Material  Research Methodology: The Aims, Practices and Ethics of Science https://books.google.co.in/books?id=IMWCDQAAQBAJ&printsec=frontcover&dq=li nks+for+research+methodology&hl=en&newbks=1&newbks_redir=1&sa=X&ved= 2ahUKEwicgbCylKH8AhVn4DgGHfPcCJoQ6AF6BAgGEAI 2 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y 1.1 Introduction Research is an academic activity and as such the term should be used in a technical sense. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis. D. Slesinger and M. Stephenson in the Encyclopedia of Social Sciences define research as “the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art.”Research is, thus, an original contribution to the existing stock of knowledge making for its advancement. It is the pursuit of truth with the help of study, observation, comparison and experiment. In short, the search for knowledge through objective and systematic method of finding solution to a problem is research. The systematic approach concerning generalization and the formulation of a theory is also research. As such the term ‘research’ refers to the systematic method 1.2 Objectives of Research The main goal of research is to improve the quality and level of living in the society. The purpose of a research study is to find out the hidden facts about a business phenomenon. The obvious function of research is to add new knowledge to the existing store. It serves the government and the business organizations in forming their future policies. The objectives of a research study are listed below: 1.2.1 Understanding a Business Problem The first and foremost objective of any study is to understand, analyze and explore a business problem. Once complete familiarity with the phenomenon is achieved, it is easier to decompose the complex problem into smaller once. 1.2.2 Understanding the cause and effect relationship Individuals form groups, and groups form organizations. They are interdependent. It is very important for a researcher to identify the functional relationships among various components 3 JGI JAINDEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research of an organization. A scientific investigation is necessary in studying the cause and effect relationship of variables involved in a business phenomenon. 1.2.3 To Innovate New Ideas One of the objectives of a researcher is to bring constant improvement in the techniques of his trade. Apart from verifying and testifying the existing assumptions, one of the functions of a research is to add new knowledge to the state of the art. Research invokes the innovation of new concepts, theories and idea in a business study. Apart from this, research also removes and discards worthless theories that are prevalent in the society. 1.2.4 To improve the quality The whole exercise of any activity is done for the improvement of quality of a product, machinery, or life of human beings. For a business organization it is at most important to improve the quality of its products. This can be achieved by a systematic and critical investigation i.e. research. 1.3 Types of Research 1.3.1 Research is a multidimensional Activity It comes in various forms and is used in all social, behavioral, educational, and economical and management sciences. According to the approach and method involved in a research, one can classify the following types of research. Descriptive v/s Analytical Research Descriptive research basically describes what is. It mainly involves collection, recording, describing and analyzing the facts related to the study. It tries to find the existing status, trend and state of affairs in a phenomenon. Descriptive research involves surveys, but they are not merely data collection as they also involve measurement, classification, analysis, comparison and interpretation. In this type of research the variable under study are uncontrollable. One can only observe and report what is happening in a situation. Analytical research, on the other hand deals with what will be. In this type of research, the variables involved are carefully and scientifically controlled and manipulated. Analytical research is also known as experimental research and is a very sophisticated technique. This 4 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y kind of research is based on four important characteristics namely; control, manipulation, observation and replication. 1.3.2 Applied v/s Fundamental Research Applied research is action oriented or solution oriented. The main goal of an applied research is to obtain an immediate, specific and practical solution of a problem that a business organization is facing right now. It gives here and now solutions in actual problem situations. It involves scientific investigations but the methods are not so rigorous as in fundamental research. It finds solutions to be applied in local environment and they may not be universally acceptable. Applied research does not promise to add new knowledge to the discipline. Fundamental research is carried out to scientifically enhance the organized body of knowledge of a discipline. Also known as basic research, it is concerned with formulation of theory and generalizations of principles. To evaluate and expand a formulated theory it may use empirical data. Basic research involves systematic, highly sophisticated scientific techniques. Fundamental research may not suggest the solutions of immediate problems, it rather draws long term conclusions. 1.3.3 Quantitative & Qualitative Research Quantitative research is based on quantitative variables, which can be measured in appropriate units. These involve objects and individuals that vary in size, quantity, amount, scale or degree. For example, prices of commodity can be measured in rupees, weight of a product is measured in kilograms and the mileage of vehicle is measured in kilometers per liter. Qualitative research, on the other hand, is based on qualitative variables, which vary in quality of type. These variables cannot be measured on a scale or in any units. Social scientists use qualitative research for studying human behavior. In market research surveys qualitative research is carried out to investigate the likes and dislikes of customers. It helps in understanding the current pattern of demand of a company’s products. 1.3.4 Conceptual v/s Empirical Research Conceptual research involves the development of new theories, abstract ideas, and generalized principles. Philosophers, intellectuals and thinkers carry out this kind of research. 5 JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research On the basis of their conceptual knowledge they build theoretical models. Conceptual research is an intellectual process to develop and verify knowledge. Empirical research is based on observation and experimentation. The information collected in the form of facts develops the conclusions and theories about a phenomenon. The models, so developed, can again be verified by a replication of data collection. To test a given hypothesis empirical research is most popular and powerful tool in the modern world. 1.3.5 Other types of Research Any research study is derivation of one or the other of above four types of research. One can further classify a research on the basis of its purpose, time taken and the discipline of knowledge it relates to. For example, Historical research is the study of past events, historical documents, remains and relics. Clinical research is employed to study the effects of a new drug. Market research is performed to forecast the potential demand of a product. One- time research is carried out on a small scale in short period with a specific purpose. Educational research is directed towards the study and development of educational system. Social research is concerned with the social problems of the society. Field research is done by going out in the field or market, where as Laboratory research is carried out with in four walls of a laboratory. 1.4 Research Approaches The above description of the types of research brings to light the fact that there are two basic approaches to research, viz., quantitative approach and the qualitative approach. The former involves the generation of data in quantitative form which can be subjected to rigorous quantitative analysis in a formal and rigid fashion. This approach can be further sub-classified into inferential, experimental and simulation approaches to research. The purpose of inferential approach to research is to form a data base from which to infer characteristics or relationships of population. This usually means survey research where a sample of population is studied (questioned or observed) to determine its characteristics, and it is then inferred that the population has the same characteristics. Experimental approach is characterized by much greater control over the research environment and in this case some variables are manipulated to observe their effect on other variables. Simulation approach involves the construction of an artificial environment within which relevant information and data can be generated. This permits an observation of the dynamic behavior of a system (or its sub- system) under controlled conditions. The term ‘simulation’ in the context of business and social sciences applications refers to “the operation of a numerical model that represents the 6 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y structure of a dynamic process. Given the values of initial conditions, parameters and exogenous variables, a simulation is run to represent the behavior of the process over time. Simulation approach can also be useful in building models for understanding future conditions. Qualitative approach to research is concerned with subjective assessment of attitudes, opinions and behavior. Research in such a situation is a function of researcher’s insights and impressions. Such an approach to research generates results either in non- quantitative form or in the form which are not subjected to rigorous quantitative analysis. Generally, the techniques of focus group interviews, projective techniques and depth interviews are used. 1.5 Significance of Research In any scientific inquiry research has been the most powerful tool for knowledge seeking people. Research is a kind of power with which one can foresee the implications of a particular phenomenon. Research is all pervading and is used in every discipline of study. Some of the applications of research are listed below. 1.5.1 In psychology: Research is done to study psychological, cultural and motivational factors of different types of persons. 1.5.2 In Sociology: Research studies are performed to analyze changing relationships among age and sex groups, emerging class patterns, social mobility and social values etc. 1.5.3 In Economics: planned development of a country and an organization is achieved through research. It helps us in deciding the wages, salaries of all employees, profit and risk involved in a business activity, and the effects of government policies on the economic structure. 1.5.4 In Geography: research is used to study environmental control, climatic complexities, geographical appraisal of a country’s foreign policy, and geographical patterns of changes in agricultural wastelands. 5. In education, research helps in the improvement of teaching methods, interrelationship of teachers and students, expenditure share of primary, technical and higher education. 7 JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research 1.5.5 In Medical Science: clinical trials are performed to study the effects of medicine. No medicine or medical treatment is accepted by medical associations without completing a thorough research process on the medicine or treatment. 1.5.6 In the field of Business Management: marketing research is the backbone of marketing a product. Before launching a new product, market surveys are conducted to identify the needs and satisfaction level of customers. It helps not only in solving existing problems but also in identifying new opportunities. In every manufacturing industry there is a research and development section, which is involved in improving the quality of products. Research is carried out in production units to decide the amount, time and potential customers of its products. Research methods are applied in statistical quality control and maintaining the optimum inventory level. For a human resource manager, it is important to have the knowledge of its employee’s, salary structure, and satisfaction level, cost of living performance appraisal. The HR department achieves the objective through research studies 1.5.7 The government – cannot function without having clear and true picture of what is happening in its state with its subjects. Every government department has a research officer with separate section on research. The collection of data is done round the year in every department and the government policies, budget, development programs take shape on the basis of these research surveys. 1.6 Research methods v/s Methodology Research methods may be understood as all those methods/techniques that are used for conduction of research. Research methods or techniques*, thus, refer to the methods the researchers use in performing research operations. In other words, all those methods which are used by the researcher during the course of studying his research problem are termed as research methods. Since the object of research, particularly the applied research, it to arrive at a solution for a given problem, the available data and the unknown aspects of the problem have to be related to each other to make a solution possible Keeping this in view, research methods can be put into the following three groups: 8 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y 1.6.1. In the first group we include those methods which are concerned with the collection of data. These methods will be used where the data already available are not sufficient to arrive at the required solution; 1.6.2. The second group consists of those statistical techniques which are used for establishing relationships between the data and the unknowns; 1.6.3. The third group consists of those methods which are used to evaluate the accuracy of the results obtained. 1.6.4. Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically. In it we study the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them. It is necessary for the researcher to know not only the research methods/techniques but also the methodology. Researchers not only need to know how to develop certain indices or tests, how to calculate the mean, the mode, the median or the standard deviation or chi-square, how to apply particular research techniques, but they also need to know which of these methods or techniques, are relevant and which are not, and what would they mean and indicate and why. Researchers also need to understand the assumptions underlying various techniques and they need to know the criteria by which they can decide that certain techniques and procedures will be applicable to certain problems and others will not. All this means that it is necessary for the researcher to design his methodology for his problem as the same may differ from problem to problem. For example, an architect, who designs a building, has to consciously evaluate the basis of his decisions, i.e., he has to evaluate why and on what basis he selects particular size, number and location of doors, windows and ventilators, uses particular materials and not others and the like. Similarly, in research the scientist has to expose the research decisions to evaluation before they are implemented. He has to specify very clearly and precisely what decisions he selects and why he selects them so that they can be evaluated by others also. From what has been stated above, we can say that research methodology has many dimensions and research methods do constitute a part of the research methodology. The scope of research methodology is wider than that of research methods. Thus, when we talk of research methodology we not only talk of the research methods but also consider the logic behind the methods we use in the context of our research study and explain why we 9 JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research are using a particular method or technique and why we are not using others so that research results are capable of being evaluated either by the researcher himself or by others. 1.7 Research Process: Research is a search for knowledge. It helps in taking appropriate decisions. Research involves asking a question and then trying to find an answer to it. Research is essentially a systematic, scientific and structured inquiry seeking facts through objective methods. Therefore a research must have a clearly defined step-by-step process. A knowledge of the research process is essential both for those who conduct the research and for those who wish to be benefited by the conclusions drawn from the research. A meaningful knowledge should have a definite purpose and direction. In developing a research process, one would like to list the sequence of step-by step activities. In a research process these steps are inter- dependent and may overlap each other. They may not follow a strict sequence and the researcher has to be vigilant of their order continuously throughout the research process. However, one can broadly enlist the main steps involved in a research process as a procedural guideline to the researcher. These steps are:  Problem formulation  Literature survey  Development of hypothesis  Research design  Choice of sample design  Data collection  Analysis and interpretation of data  Hypothesis testing  Interpretation of results  Report writing 1.7.1 Problem formulation: Formulation of a problem is the first and foremost step in a research process. It is not always easy to identify and define a problem in an ever-changing business environment. A researcher not only discovers and defines a problem area but also a specific problem within 10 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y that area concerning his interest in business. The problem should be clearly and precisely stated. The statement of the problem must be complete. The problems in a business may sometimes be obvious and one can pinpoint them. Many a problem is not so apparent and needs explorations. Thus, first of all one has to identify a problem specifically and thoroughly, and then it has to be expressed in scientific terms so that statistical analysis can be performed on that problem. 1.7.2. Literature survey: After the formulation and identification of a problem, the next important step is the review of literature survey. An exhaustive and critical review of professional literature familiarizes the researcher with the current state of knowledge. It helps in understanding of the problems and hypothesis that others have studied. It clarifies the concepts, theories, major variables involved, operational definitions and research methods used in the past. This contributes to the cumulative nature of scientific knowledge. Every year thousands of articles, books and monographs are published in any field of study. Therefore, it is important to sort out the relevant literature connected with the field of one’s interest. It is best to begin any search for literature with one of the guides to published literature. These guides are increasingly computerized and include bibliographies, indexes and abstracts. 1.7. 3. Development of hypothesis: Once a problem is defined and a review of literature is made, the next step is to define clearly the hypothesis in a research problem. A hypothesis is a tentative assumption in a research problem, which has to be tested empirically with the help of observed data. When formulating a hypothesis, a researcher does not know whether it will be rejected or accepted. A hypothesis is constructed and tested; if it is rejected, another one is formulated; if it is accepted, it is incorporated in the scientific body of knowledge. One should arrive at a clear and specific working hypothesis for which research methods already exist. A good hypothesis states a research problem in concise and precise terms so that the researcher is focused on the problem at hand. 1.7.4. Research design: A research design is a well-defined plan of action. It is a planned sequence of the entire research process. It is a blue print of research activity. In a big business scenario designing a research study is very complex. Therefore, a research design may change during the operation of a project. A good research design must use minimum of resources like time, 11 JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research money and manpower. A research design must be able to translate the general scientific model into a practical research operation. A scientifically developed research design possess the characteristics like (i) objectivity (ii) Reliability ( iii) Validity (iv) Generalization. 1.7.5. Choice of sample design: In any investigation the group of all items, objects or individuals under study is called ‘population’ or ‘universe’. For all purpose of determining population characteristics, instead of enumerating entire population, some items of the population, called a sample, are observed. Then the sample characteristics are utilized to approximately determine or estimate the population. For example, on examining the sample of particular product, we arrive at a decision of purchasing or rejecting that product. There will be surely some error in such an approximation and is inherent and unavoidable in any and every sampling scheme. But samples result in considerable gains in terms of time, money, accuracy and efforts. Drawing a sample of some predetermined size from an entire population is not a child’s play. These have to be a systematic plan to choose the sample items. This plan or a technique of drawing a sample is known as sample design or sample plan or sampling technique. Researchers have suggested various sample designs. One research situation may be different from another, therefore, simple random sample, though most popular, may not be suitable in each case. Depending on the requirement of a situation one can choose one of the following sample designs: 1. Purposive or Judgment Sampling 2. Simple Random Sampling 3. Stratified Random Sampling 4. Systematic Sampling 5. Cluster Sampling 6. Area Sampling 7. Multi-stage Sampling 8. Multi-phase Sampling. 1.7.6. Data collection: Once a sample design is formulated, the next step in a research process is the collection of relevant data. There can be two sources of data (i) internal data that refers to the happenings and functions of a business organization. For example, the sale purchases details of a company. (ii) External data, which is related to outside sources and external agencies. There are two types of data (a) Primary data (b) Secondary data. Primary data are those observations, which are collected by an investigator for the first time, Secondary data are already available in the records and have been collected by some other researcher for the purpose of studying a similar problem. 12 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y 1.7.6.1. Methods of collecting primary data are: (i) by direct observation and experimentations (ii) by direct personal interview (iii) by direct interviews through phone, SMS and Email. (iv) By indirect personal interview (v) by mailed / emailed Questionnaire (VI) by schedules through enumerator 1.7.6.2. Methods of collecting secondary data: (i) International organizations like WHO, UNO etc. (ii) Government publications like economic survey, CSO, NSSO. (iii) Journal and Newspapers (iv) Research articles (v) Reports of business organization and financial institutions. A method and source of data collection is chosen by an investigator taking into account the objectives and requirements of the inquiry. The adopted method should incur minimum cost and time should have a reasonable level of accuracy and unbiasedness. 1.7.7. Analysis and interpretation of data: After the collection of data, what we have is a huge chunk of observations and numerical values. The data at the beginning are in raw form. For the purpose of applying further statistical techniques, one has to put the raw data in a useful form by classification, tabulation and categorization of data. If one has to feed the data in a computer, the data should bear the same form as required by the software used. This kind of processing of data involves one or more of the following activities: (i) coding (ii) labeling (iii) editing (iv) tabulation (v) classification. 1.7.8. Hypothesis testing: After analyzing and processing of data, it is time now to test the hypothesis that were formed in step 3 of the research process. A hypothesis is skeptically formulated regarding the relationship between phenomena and variables involved in a study. Then by empirical investigation the hypothesis is tested for possible acceptance or rejection. In other words, the researcher decides on the basis of the observed facts that he has collected, whether or not an assumption is valid. A hypothesis is tested by making use of a predefined decision rules established in statistical methods. Some of the popular statistical tests are, Z- test, Chi- square test, t- test and F- test. In a situation where no hypothesis is formulated in a study, the observations are made on the data directly and conclusions are drawn to formulate new generalizations and assumptions for future purpose. 1.7.9. Interpretations of results: 13 JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research After the data collection and testing of hypothesis one has to reach to the conclusions of the research study. These conclusions are the most vital outcomes of the study and have to be dealt with very carefully. On the basis of findings of the research work done we draw inferences about the phenomenon under study. This is a useful activity as without any outcome a research study is fruitless. The results obtained from the analysis of data are to be interpreted skillfully. A wrong interpretation my lead to wrong decisions. Interpretation may also lead to generalizations of the phenomena understudy. It may also help in developing new theories and can suggest new research problems to be explored in future. 1.7.10. Report writing: Last but not the least is the step of reporting the facts and findings of the research study. A report is a summary of the whole research process. The layout of a report must be attractive. The words used in the text must be easily comprehensive to a reader. Even a non- technical person understands a good report. In the beginning of the report one should give the title, time period of work, acknowledgement and preface. In the main text an introduction to the problem, summary of findings, results and inferences, and then the recommendations of the researcher are given. The report should conclude with appendices, bibliography and a subject or / and author indexes. 1.8 Applications of Research in Business Decisions 1.8.1. The role and significance of research in aiding business decision is very significant. Business managers in each field— whether human resources or production, marketing or finance—are constantly being confronted by problem situations that require effective and actionable decision making. Most of these decisions require additional information or information evaluation, which can be best addressed by research. While the nature of the decision problem might be singularly unique to the manager, organization and situation, broadly for the sake of understanding, it is possible to categorize them under different heads. 1.8.2 Marketing function This is one area of business where research is the lifeline and is carried out on a vast array of topics and is conducted both in-house by the organization itself and outsourced to external 14 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y agencies. Broader industry- or product-category-specific studies are also carried out by market research agencies and sold as reports for assisting in business decisions. Studies like these could be: Market potential analysis; market segmentation analysis and demand estimation. Market structure analysis which includes market size, players and market share of the key players. Sales and retail audits of product categories by players and regions as well as national sales; consumer and business trend analysis—sometimes including short- and long-term forecasting. 1.8.3 Personnel and Human Resource Management Human Resources (HR) and organizational behaviour is an area which involves basic or fundamental research as a lot of academic, macro-level research may be adapted and implemented by organizations into their policies and programmes. Applied HR research by contrast is more predictive and solution-oriented. Though there are a number of academic and organizational areas in which research is conducted, yet some key contemporary areas which seem to attract more research are as follows: Performance Management, Employee Selection and Staffing: Organizational Planning and Development, Incentive and Benefit Studies, Training and Development: Other Areas etc. 1.8.4. Financial and Accounting Research The area of financial and accounting research is so vast that it is difficult to provide a pen sketch of the research areas. In this section, we are providing just a brief overview of some research topics: Asset Pricing, Corporate Finance and Capital Markets: The focus here is on stock market response to corporate actions (IPOs or Initial Public Offerings, takeovers and mergers), financial reporting (earnings and firm specific announcements) and the impact of factors on returns, e.g., liquidity and volume. Financial Derivatives and Interest Rate and Credit Risk Modeling: This includes analysing interest rate derivatives, development and validation of corporate credit rating models and associated derivatives; analysing corporate decision- making and investment risk appraisal. Market Based Accounting Research: This includes analysis of corporate financial reporting behaviour; accounting-based valuations; evaluation and usage of accounting information by investors and evaluation of management compensation schemes. Auditing and Accountability Financial Econometrics, Other Areas. 15  JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research 1.8.5. Production and Operation Management This area of management is one in which quantifiable implementation of the research results takes on huge cost and process implications. Research in this area is highly focused and problem specific. The decision areas in which research studies are carried out are as follows:  Operation planning which includes product/service design and development; resource allocation and capacity planning. Demand forecasting and decision analysis. Process planning which includes production scheduling and material requirement management; work design planning and monitoring. Quality estimation and assurance studies which include Total Quality Management (TQM) and quality certification analysis. 1.8.6. Cross-Functional Research  Business management being an integrated amalgamation of all these and other areas sometimes requires a unified thought and approach to research. These studies require an open orientation where experts from across the disciplines contribute to and gain from the study. For example, an area, such as new product development requires the commitment of the marketing, production and consumer insights team to exploit new opportunities. Other areas requiring cross-functional efforts are:  Corporate governance and ethics—the role of social values and ethics and their integration into a company’s working is an area that is of critical significance to any organization. Technical support systems, enterprise resource planning systems, knowledge management, and data mining and warehousing are integrated areas requiring research on managing coordinated efforts across divisions. 1.9 Conclusion Research is a part of any systematic knowledge. It is essentially a systematic investigation to discover answers to problems, seeking facts / truth. The word Science can be understood in two senses. – Science as an organized body of knowledge and science as a method leading to knowledge. All sciences are knowledge, but all knowledge is not science. Empirical studies have a great potential for they lead to inductions and deductions. Induction is the process of reasoning to arrive at generalizations Introduction to Business Research 23 from particular facts. Deduction is a way of making a particular inference from a generalization. Research is very useful to business organizations and their managers in a number of ways. It facilitates timely and objective decisions. It helps in solving business problems. It helps in 16 UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y providing answers to many business questions. It is of immense use to business in its functional areas. Marketing research, personnel research, production management research, financial management research, accounting research are examples. Research can be classified into different types for the sake of better understanding. Several bases can be used for this classification such as branch of knowledge, nature of data, coverage, application, place of research, research methods used, time frame etc., and the research may be known as that type. The research has to provide answers to the research questions raised. For this the problem has to be investigated and relevant data has to be gathered. The procedures adopted for obtaining the data and information are described as methods of research. There are six methods viz., Survey, Observation, Case, Experimental, Historical and Comparative methods. Survey is a fact finding enquiry conducted in a natural setting/field, soliciting responses from people known to have knowledge about the problem under study. Observation is a systematic viewing of a specific phenomenon in its proper setting for gathering information. A comprehensive or in-depth study of an element of research is called a case study. Experimentation is a research process used to observe cause and effect relationship under controlled conditions. Historical research depends on past observations or past data and hence is a post facto analysis. The comparative method is an evolutionary method employed to trace the evolution, similarities and differences between the elements under study. The business researcher in India has to face certain difficulties such as lack of scientific research training, paucity of competent researchers and research supervisors, non-encouragement of research by business organizations, small business organizations are not able to afford R & D departments, lack of scientific orientation in business management, insufficient interaction between industry and university, funding problems, poor library facilities, delayed availability of published data etc. The business research process involves a number of stages such as selection of a researchable problem, review of previous work on that problem, specification of the problem, formulation of hypotheses / objectives, identifying sources of data, construction of data collection instruments and their pre-testing, collection of data, processing and analysis of data and finally interpretation and Report writing. 17  JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research Summary:  Research originates in a decision process.  Usually a research is said to begin with a question or a problem.  In research process, management problem is converted into a research problem which is the major objective of the study.  Research question is further subdivided, covering various facets of the problem that need to be solved.  The role and scope of research has greatly increased in the field of business and economy as a whole.  The study of research methods provides you with knowledge and skills you need to solve the problems and meet the challenges of today is modern pace of development.  Basic research (also called fundamental or pure research) has as its primary objective the advancement of knowledge and the theoretical understanding of the relations among variables. The ultimate aims of research are to generate measurable and testable data, gradually adding to the accumulation of human knowledge. Ancient philosophers believed that all answers could be achieved through deduction and reasoning, rather than measurement. A research problem is the situation that causes the researcher to feel apprehensive, confused and ill at ease. It is the demarcation of a problem area within a certain context involving the WHO or WHAT, the WHERE, the WHEN and the WHY of the problem situation. Self-Assessment Questions Short type questions: 1. Define research with two definitions. 18  UNIT 1: Introduction to Research JGI JAIN DEEMED-TO-BE UNIVERSIT Y 2. What are the objectives of research? 3. State the characteristics of research. 4. Write short notes on research methods. 5. What are the different types of research approaches? Medium type questions: 1. What is research? Explain its importance and limitations. 2. Analyze descriptive approach to research. 3. Write short notes on Research Methodology. 4. What is qualitative research? Illustrate with one example. 5. What is quantitative research? Give two examples. Long type questions: 1. Explain the various types of Research. 2. Explain the steps involved in Research process. 3. Explain the Applications of Research in Business Decisions. 4. Discuss the scope of research and its Significance in Business. 5. State the significance of research, what is the importance of knowing how to do research? 1.10 POST-UNIT READING MATERIAL  Creswell, John W. 2002. Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. London: Sage Publications Inc.  Booth, Wayne, Gregory G. Colombo and Joseph M. Williams. 1995. The Craft of Research. Chicago: University of Chicago Press.  Bryman,Alan and Emma Bell. 2015. Business Research Methods. 4th Edition. United Kingdom: Oxford University Press.  Gupta, S.L. and Hitesh Gupta. 2012. Business Research Methods. New Delhi: Tata McGraw Hill Education Private Limited.  Harris, C. W., (1960) Encyclopedia of Educational Research, American Educational Research Association, Macmillan, New York. 19 JGI JAIN DEEMED-TO-BE UNIVERSIT Y UNIT 1: Introduction to Research  Kerlinger, Fred, N., (1973) Foundations of Behavioral Research, New York: Rinehart and Winston. Purpose, Nature and Scope 30 Introduction to Research in Distance Education  Lee, Y., Driscoll, M.P., & Nelson, D. W. (2004) the past, present and future of research in distance education: Results of a content analysis, American Journal of Distance Education,  18(4). Panda, S. et al (eds), (1996) Open and Distance Education Research: Analysis and Annotation, Warangal, Idea.  Parhar Madhu. (2003) Trends in Contemporary Research in Open and Distance Education in Media and Technology for Human resource Development, AIAET, Vol. 14, No. 3&4.  Rourke, L. & Szabo, M. (2002) A content analysis of the Journal of Distance Education 1986-2001, Journal of Distance Education, 17(1). Travers, 20  UNIT BUSINESS RESEARCH AND STRATEGIES Names of Sub-Units The Nature of Business Research - Theory and Research - Deductive and Inductive Logics of Inquiry - Philosophical Assumptions in Business Research - Ontological Consideration - Epistemological Considerations - Research Paradigm - Developing a Research Strategy - Quantitative or Qualitative. Overview Research philosophy is an important part of research methodology. Research philosophy is classified as ontology, epistemology and axiology. These philosophical approaches enable them to decide which approach should be adopted by the researcher and why, which is derived from research questions (Saunders, Lewis, & Thornhill, 2009). The important assumptions are present in research philosophy which explains the researcher’s view regarding the world. In any research process, it is very important that the researcher to understand the research philosophies or the paradigms that contributes and adds to research quality and creativity Easterby-Smith et al (2012). With similar view, the knowledge of epistemology and ontology is critical in addressing research philosophies. This is because the ontological and the epistemological positions of the researcher influence his or her choice of what data to collect, how to collect and analyze the data, the meanings to make the data, and the extent of the generalizability of research findings. Learning Objectives JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies In this Unit you will learn –  To develop an understanding of the main philosophic and theoretical principles underlying research  To introduce the concept of ‘causality’.  Philosophical assumptions derived from a paradigm that guides the design. These include  Ontological assumptions about the nature of reality.  Epistemological assumptions about what can be known.  Axiological assumptions about what is important and valuable in research.  Methodological assumptions about what methods and procedures are allowable within the paradigm.  To understand the research approach, Inductive and Deductive theory  To study the difference between quantitative research and qualitative research  To study the research strategies like Experimental research, Action research, Case study research, Grounded theory, Ethnography, Archival.  To finalise the time line with research data analysis.  To follow the procedure and techniques of research Learning Outcomes At the end of this unit, you would:  Conduct independent research on a philosophical topic by finding, assessing, and employing relevant literature, culminating in a written argumentative work.  Represent arguments using a formal logical framework and determine their validity by deductive methods.  Apply conceptualist and analytic methods to interpret historically significant answers to the following kinds of questions: What am I? How should I live? What is justice? What is knowledge? What is real? Does God exist?  Explain the content of some contemporary philosophical answers to questions in value theory. Relevant questions include, but are not limited to: How should I treat others? What is justice? What is equality? What is it to be morally responsible? What is beauty? 2 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY  Apply the critical tools of philosophical analysis, both orally and in writing, to boldly and effectively question prevailing social norms, hierarchies of power, or other traditional or current assumptions and theories about value. Pre-Unit Preparatory Material  https://thesismind.com/analysis-of-saunders-research-onion/  https://www.ukessays.com/essays/psychology/explanation-of-the-concept-of- research-onion-psychology-essay.php 2.1 Introduction to Business Research The purpose of business research is to gather information in order to aid business-related decision-making. Business research is defined as ‘the systematic and objective process of collecting, recording, analyzing and interpreting data for aid in solving managerial problems’. These managerial problems can be linked to any business function, e.g. human resources, finance, marketing or research and development. Your research project can also be interpreted as business research in the sense that it will be related to business and management. In some cases, this may encompass more than one particular business discipline. For instance, a study might focus on the level of marketing knowledge among finance managers (marketing and finance). Some examples of areas of business and possible research issues are shown in table 1.1. Table 1.1 Business aspect Research issues Consumer behavior Buying habits, brand preference, consumer attitudes Human resources Employee attitudes, staff retention, material incentives Promotion Media research, public relations studies, Product recall through advertising 3 JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies Product Test markets, concept studies, performance studies Finance Forecasting, budgeting, efficiency of accounting 2.2 Importance of Research in Business In business, research is important in identifying opportunities and threats. Often, a company’s success or failure is dependent on the actions undertaken as a result of conducting research. Although carrying out business research does not guarantee success, it is likely to increase the possibility that a new product, service, brand identity or even an event is successful. In some cases, the level of research conducted can be questionable, especially if public opinion is markedly different to that of an organization’s viewpoint, as illustrated in the following case example. 2.2.1 RESEARCH in Action: The London Olympics 2012 logo (Case Let) The London Olympics 2012 logo the logo of the London 2012 Olympic Games was unveiled to the world in June 2007. At a cost of £400,000, it was hailed as ‘dynamic’ and ‘vibrant’ by organizers, while its ‘graffiti style’ was designed to appeal to the younger generation and work across a variety of media platforms. Designed by leading brand consultants Wolff Olins, the logo took the best part of a year to produce and bears a resemblance to the year 2012. However, shortly after its launch, the design came up against widespread disapproval, with one Jewish person even ringing the BBC to complain that it was reminiscent of the infamous Nazi SS symbol. Business aspect Research issues Consumer behavior Buying habits, brand preference, consumer attitudes Human resources Employee attitudes, staff retention, material incentives Promotion Media research, public relations studies, product recall through advertising Product Test markets, concept studies, performance studies Finance Forecasting, budgeting, efficiency of accounting software Design guru Stephen Bayley condemned it as ‘a puerile mess, an artistic flop and a commercial scandal’. An online petition to get the logo scrapped received thousands of signatures, while research conducted by Ipsos MORI, one of the UK’s leading research companies, found a similarly negative response. For example, when questioned ‘Do you approve or disapprove of the logo?’ only 16% of respondents commented that they approved of the logo. 4 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY Although the London Organizing Committee of the Olympic and Paralympic Games (LOCOG) stressed that the logo was paid for by private money, Mr Bayley voiced his astonishment that the emblem – available in blue, pink, green and orange – had cost £400,000. ‘That’s outrageous,’ he said. ‘There are 5,000 talented designers who could have done the job for £10,000.’ (Carlin, 2007; Ipsos MORI, 2007) In the case of the London Olympics 2012 logo, it can be questioned as to whether LOCOG carried out sufficient research prior to choosing the new logo. Later media coverage suggests that many people eventually warmed to the design, thus il lustrating that business research may only provide a snapshot of people’s opinion, and that attitudes can change over time. 2.2.2 Understanding the cause and effect relationship Individuals form groups, and groups form organizations. They are interdependent. It is very important for a researcher to identify the functional relationships among various components of an organization. A scientific investigation is necessary in studying the cause and effect relationship of variables involved in a business phenomenon. 2.3 Research Philosophy In general, your research philosophy is linked to your views on the development of knowledge. In other words, what you think constitutes knowledge will impact the way that you go about your research. Subconsciously, this is something that comes naturally. Nonetheless, an understanding of research philosophy is important because it is fundamental to how you approach your research. Mark Easterby-Smith et al. (2002) suggest there are three reasons why an understanding of philosophical issues is very useful. First, it can help to clarify research designs. This entails considering the type of evidence required and how it is to be collected and interpreted. Second, knowledge of philosophy can help the researcher to recognize which designs work best. Finally, knowledge of philosophy can help the researcher identify and adapt research designs according to the constraints of different subject or knowledge structures. In short, an understanding of research philosophy is important as it gets you thinking about your own role as a researcher. Research philosophies are now fully explained in the next section. 5 JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies 2.3.1 Epistemology: (What is the nature of knowledge?) Epistemology refers to the nature of knowledge, which means how we conceive our surroundings. The key question that epistemology asks is ‘What is acceptable knowledge?’ – ‘A particularly central issue in this context is the question of whether or not the social world can and should be studied according to the same principles, procedures and ethos as the natural sciences’ (Bryman and Bell, 2007: 16). If you intend adopting an approach similar to that of the natural scientist, then your epistemological approach is likely to be positivist. Positivism takes an objective view when conducting research and is detached from those involved in the study. On the other hand, you may be critical of the positivist approach and prefer to take an active role when carrying out your research. If that is the case, then you are likely to adopt an interpretivist view to your research. Unlike positivists, interpretivists often look at one particular subject in-depth. The purpose of their research is therefore not to generalize, but to be actively engaged in their research through high levels of interaction and/or participation. Positivism and interpretivism are perhaps the two most well-known research philosophies. Each one is different in terms of what constitutes knowledge, although certain aspects can come under the heading of both philosophies. Positivism and interpretivism are essentially related concepts in the sense that as a researcher, whichever approach you choose, you need to produce a convincing set of findings and argue that your findings are valid. Treating the concepts as related is of benefit because it can help to promote mixed methodologies in order to help validate your findings. In greater detail. Positivism if you assume a positivist approach to your study, then it is your belief that you are independent of your research and your research can be truly objective. Independent means that you maintain minimal interaction with your research participants when carrying out your research. Through being detached in this way, the hope is that you can be truly objective. To put it another way, as a researcher your own personal biases have no part in the research effort. Positivists believe that research needs to be carried out in a scientific nature. It is empirical research that follows a strict set of guidelines and should be carried out by appropriately trained scientists. The carrying out of this research is usually based on a deductive approach, moving from theory to observation. 6 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY In general, positivists want their findings to have applicability to the whole of a population. Analysis of observations is likely to be quantifiable as opposed to qualitative. Moreover, there is likely to be a high level of reliability to positivist research due to a highly structured approach. Researchers critical of the positivist approach are likely to argue that interesting insights are liable to be lost if one adopts positivism. For example, post-positivists argue that reality can never be fully apprehended, only approximated (Guba, 1990: 22). Post- positivism relies on multiple methods as a way of capturing as much of reality as possible. Certain studies are unlikely to lend themselves well to a positivist approach. For instance, if you wish to study shopping habits at your local supermarket, as well as establish consumer perceptions governing pricing, you are more likely to adopt an interpretivist view. Interpretivism you may not agree with the positivist approach because you believe that the social aspects of business are too complicated to be measured along the same basis as the natural sciences. If so, then you might be inclined to adopt the role of the interpretivist researcher. Interpretivism is an epistemology that supports the view that the researcher must enter the social world of what is being examined. If you decide to assume an interpretivist perspective, then you are likely to analyze social actors within their own cultural setting. This may involve observations that are qualitative and subjective in nature. A key factor for the interpretivist researcher is to understand the social world of the research participants. Thus, interpretivists are often interdependent with their research and their research is truly subjective. Interdependent means that the researcher is likely to interact with research participants. In certain circumstances, researchers may even observe research participants while working alongside them (participant observation). This illustrates the interpretivist’s view of research as being both collaborative and participatory. The carrying out of this research is usually based on an inductive approach, moving from observation to theory. Overall, interpretivists view the world as complex and open to interpretation. It is the interpretation of findings that can lead to problems associated with reliability. In spite of this, it is often not the intention to generalize, but to provide interesting new insights into a particular context. Researchers critical of interpretivism tend to focus on the issue of measurement and reliability. Because studies tend to be qualitative, they do not normally adopt any precise systems of measurement. Consequently, reliability in the sense of accuracy and repeatability can be called into question. 7 JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies For instance, to what extent has the researcher adopted a thorough approach? If a poor record has been kept in relation to data collection and analysis, then it makes it all the more difficult for future researchers to come along and carry out the same piece of work. Pragmatism The philosophical debate is often centered on the differences between positivism and interpretivism. If you are unable to choose, or believe that your research is not aligned with either of these philosophies, then you are perhaps a pragmatist. The pragmatic paradigm does not align itself with any one philosophical stance and recognizes the importance of both the physical and social world. Pragmatist researchers focus on the ‘what’ and the ‘how’ of the research problem (Creswell, 2003: 11). Pragmatism is generally viewed as the most popular paradigm for mixed methods social enquiry (Greene, 2007), although mixed methods could be used with any paradigm. Pragmatists place the research problem and research questions at the Centre of the research and use the methods they consider to be the most appropriate in generating the most significant insights into their research. For example, if you are interested in researching how small companies in your region are coping with the current economic downturn, you may believe that the ‘best way’ to tackle this research question is to interview the owners of the companies and administer a questionnaire survey to employees. In short, this example can be described as taking a pragmatic stance. The focus is clearly on the research problem, while employing methods considered the most appropriate in answering the research question. 2.3.2 Ontology (The way we think the world is) While epistemology is concerned with ‘What is acceptable knowledge? Ontology is concerned with the nature of reality. In essence, it asks how we perceive the social world, or to put it another way, the way we think the world is. You need to decide whether you consider the world is external to social actors, or the perceptions and actions of social actors create social phenomena. If you consider the latter ontological stance, then you will adopt the subjectivist view. Subjectivism is clearly linked to interpretivism in that the researcher examines the motivation and social interactions of respondents. As a researcher you need to understand the subjective beliefs and attitudes motivating respondents to act in a particular way. For example, if you decide to analyze management perceptions towards their business networks, you are likely to record a wide range of feedback based on each person’s own experience and perceptions. In effect, what you are doing is analyzing business networks based on everyday interaction that management experience. Business 8 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY networks are therefore viewed by analyzing the subjective experiences of individual actors, namely, management. Conversely, you may take an external view of the world, associated with objectivism. Objectivism is an ontological stance that implies that social phenomena are based on external realities that are beyond our reach or control. Citing the earlier ‘business networks’ example, rather than involving social actors directly in the research, objectivism would deal with business networks as being external to social actors. Analysis would then be on treating business networks as tangible objects that are clearly defined and external to the everyday changing interactions involving individual actors. 2.4 Research Approach Research methods are often associated with two approaches – inductive and deductive. Let us look at each of these in turn. First, Kenneth F. Hyde (2000: 83) defined inductive as ‘a theory-building process, starting with observations of specific instances, and seeking to establish generalization about the phenomenon under investigation’. In other words, if you decide to follow an inductive approach to your study, you will be seeking to make observations about your research, and then perhaps contribute to a new theory. Conversely, a deductive approach ‘begins with and applies a well-known theory’. For example, if your research project was focused on cross-cultural management and based on a deductive approach, then you may decide to apply Geert Hofstede’s (1980) cultural theory. In other words, you are applying theory rather than attempting to generate new theory through an inductive approach One of the main distinguishing features between business research in an academic setting and ‘real life’ is theory. Quite simply, your own research project requires theoretical content. However, an important question you will need to answer quite early on is: ‘How will theory feature in my study?’ This brings us to the important distinction between ‘induction’ and ‘deduction’. A deductive approach is concerned with developing a hypothesis (or hypotheses) based on existing theory, and then designing a research strategy to test the hypothesis. ‘In this type of research, theory, and hypotheses built on it, come first and influence the rest of the research process – this type of research is often associated with the quantitative type of research’ (Ghauri and Grøhaug, 2005: 15). On the other hand, an inductive approach would collect data and develop theory as a result of your data analysis. This type of research is often associated with the qualitative type of research. 9 JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies 2.4.1 Inductive Research Approach When there is little or no existing literature on a topic, it is common to perform inductive research, because there is no theory to test. The inductive approach consists of three stages: 1. Observation  A low-cost airline flight is delayed  Dogs A and B have fleas  Elephants depend on water to exist 2. Seeking patterns  Another 20 flights from low-cost airlines are delayed  All observed dogs have fleas  All observed animals depend on water to exist 3. Developing a theory or general (preliminary) conclusion  Low cost airlines always have delays  All dogs have fleas  All biological life depends on water to exist Limitations of an inductive approach A conclusion drawn on the basis of an inductive method can never be fully proven. However, it can be invalidated. Example You observe 1000 flights from low-cost airlines. All of them experience a delay, which is in line with your theory. However, you can never prove that flight 1001 will also be delayed. Still, the larger your dataset, the more reliable your conclusions. Deductive research approach When conducting deductive research, you always start with a theory. This is usually the result of inductive research. Reasoning deductively means testing these theories. Remember that if there is no theory yet, you cannot conduct deductive research. The deductive research approach consists of four stages: 10 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY 1. Start with an existing theory and create a problem statement  Low cost airlines always have delays  All dogs have fleas  All biological life depends on water to exist 2. Formulate a falsifiable hypothesis, based on existing theory  If passengers fly with a low cost airline, then they will always experience delays  All pet dogs in my apartment building have fleas  All land mammals depend on water to exist 3. Collect data to test the hypothesis  Collect flight data of low-cost airlines  Test all dogs in the building for fleas  Study all land mammal species to see if they depend on water 4. Analyze and test the data  5 out of 100 flights of low-cost airlines are not delayed  10 out of 20 dogs didn’t have fleas  All land mammal species depend on water 5. Decide whether you can reject the null hypothesis  5 out of 100 flights of low-cost airlines are not delayed = reject hypothesis  10 out of 20 dogs didn’t have fleas = reject hypothesis  All land mammal species depend on water = support hypothesis 2.5 Research Strategy Two terms often used to describe the main research strategies to business research are qualitative and quantitative. Norman K. Denzin and Yvonna S. Lincoln (2000: 8) described the distinction between qualitative and quantitative as follows: the word ‘qualitative’ implies an emphasis on the qualities of entities and on processes and meanings that are not experimentally examined or measured (if measured at all) in terms of quantity, amount, intensity or frequency. Qualitative researchers stress the socially constructed nature of reality, the intimate relationship between the research and what is studied, and the 11 JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies situational constraints that shape inquiry. Such researchers emphasize the value-laden nature of inquiry. They seek answers to questions that stress how social experience is created and given meaning. In contrast, quantitative studies emphasize the measurement and analysis of causal relationships between variables, not processes. Proponents of such studies claim that their work is undertaken from within a value-free framework. In all likelihood, these are terms that you may have come across before. In short, the main difference is that quantitative research is usually associated with numerical analysis, while qualitative is not. Nevertheless, comparing the two strategies on the basis of analysis is rather simplistic. A number of other key differences also exist. For example, a quantitative strategy is viewed as objective and involves data collection methods such as questionnaires. Yet a qualitative approach is viewed as subjective and involves data collection methods such as interviews. Increasingly, researchers are using mixed methods that offer the advantage of overcoming single-method studies. The next section in this chapter takes a closer look at qualitative and quantitative research. Apart from these two strategies they also have other which are mentioned below: 2.5.1 Experimental Research  Experimental research involves manipulating one variable (the independent variable) to observe a change in another variable (the dependent variable) – in other words, to assess the relationship between variables. The purpose of experimental research is to support, refute or validate a research hypothesis. This research strategy follows the principles of the scientific method and is conducted within a controlled environment or setting (for example, a laboratory). 2.5.2 Action Research Action research is conducted in practical settings such as a classroom, a hospital, a workspace, etc – as opposed to controlled environments like a lab. Action research helps to inform researchers of problems or weaknesses related to interactions within the real- world. With action research, there’s a strong focus on the participants (the people involved in the issue being studied, which is why it’s sometimes referred to as “participant action research” or PAR. 12 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY 2.5.3 Case Study Research A case study is a detailed, in-depth study of a single subject – for example, a person, a group or an institution, or an event, phenomenon or issue. In this type of research, the subject is analysed to gain an in-depth understanding of issues in a real-life setting. The objective here is to gain an in-depth understanding within the context of the study – not (necessarily) to generalize the findings. 2.5.4 Grounded Theory Grounded theory is all about “letting the data speak for itself”. In other words, in grounded theory, you let the data inform the development of a new theory, model or framework. True to the name, the theory you develop is “grounded” in the data. Ground theory is therefore very useful for research into issues that are completely new or under-researched. Grounded theory research is typically qualitative (although it can also use quantitative data) and takes an inductive approach 2.5.5 Ethnography Ethnography involves observing people in their natural environments and drawing meaning from their cultural interactions. The objective with ethnography is to capture the subjective experiences of participants, to see the world through their eyes. Creswell (2013) says it best: “Ethnographers study the meaning of the behaviour, the language, and the interaction among members of the culture-sharing group.”  For example, if you were interested in studying interactions on a mental health discussion board, you could use ethnography to analyse interactions and draw an understanding of the participants’ subjective experiences. 2.5.6 Archival Research An archival research strategy draws from materials that already exist, and meaning is then established through a review of this existing data. This method is particularly well-suited to historical research and can make use of materials such as manuscripts and records.  For example, if you were interested in people’s beliefs about so-called supernatural phenomena in the medieval period, you could consult manuscripts and records from the time, and use those as your core data set. 13 JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies 2.5.7 Qualitative Research Once again, quantitative research examines data that are numerical, while qualitative inquiry examines data that are narrative. Qualitative research shares good company with the most rigorous quantitative research, and it should not be viewed as an easy substitute for a ‘statistical’ or quantitative study (Creswell, 1998). A qualitative strategy is usually linked with an inductive study. As we have already established in this chapter, an inductive theory means that theory is likely to be an outcome, rather than applied from the outset. Combining qualitative research and inductive theory are common as they are well suited to providing insights that allow for the generation of theoretical frameworks. For example, you might be interested in studying the impact that Chinese cultural values have on Sino- European joint venture performance. If no theoretical framework exists in this particular area, then one option would be to undertake an inductive approach. In the first instance, this may involve identifying cultural values and establishing how these will be measured. Next, interviews might take place with Chinese and European managers involved in the running of the joint venture. This would then be followed by an analysis of your findings. Lastly, depending on your results, you may then propose a theoretical framework that illustrates the relationship between the cultural values and joint venture performance. 2.5.8 Quantitative Research A quantitative approach to research might draw a large and representative sample from the population of interest, measure the behavior and characteristics of that sample, and attempt to construct generalizations regarding the population as a whole’ (Hyde, 2000: 84). Unlike qualitative research, quantitative research is often associated with a deductive approach. In other words, theory is applied from the outset. Analysis is usually statistical and involves analyzing the results following theoretical application. Rather than generating a theoretical framework as a possible outcome, you would apply an existing theory that would help interpret your findings. Furthermore, because you have probably applied a theory that has been used by several previous researchers, interestingly your results can often be compared with current studies. Using the joint venture example again, let us assume that now that you have analyzed the relationship between cultural values and joint venture performance, you are keen to know how many years managers intend remaining in a joint venture. The nature of this question is objective and will generate numeric or quantitative data. 14 UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY 2.6 Summary and Conclusion The relationship between the key concepts of research, if your epistemological stance is a positivist one, then you are likely to view knowledge as an object (objective), or in other words it exists independently of the mind. In addition, your research approach is likely to be deductive, whilst adopting a quantitative research strategy. In essence, your choice of research philosophy is likely to determine your research approach and research strategy. For example, if you intended applying existing theories for measuring a company’s performance, using financial measures and statistical data, while administering a questionnaire to gather this data, then there is a clear thread here from epistemology (positivist), ontology (objective), to research approach (deductive), followed by research strategy (quantitative). If you are taking an interpretivist stance, then your ontological view is likely to consider knowledge as an idea that is independent of someone’s mind (subjective), research approach is likely to be inductive, while undertaking a qualitative research strategy. However, pragmatism does not take one epistemological stance, as pragmatists place the research problem and research questions at the Centre of the research. In addition, they use methods they consider to be the most appropriate in generating the most significant insights into their research; An understanding of epistemology is important because it is fundamental to the way you approach and interpret your research.  Research epistemologies include: positivism, interpretivism and pragmatism. The latter is typically associated with mixed methods or multi-strategy research.  Consider whether a multi-strategy approach might be preferable to a mono-method design and think about the implications of doing multi-strategy research. Self-Practice David Parker, a final year BA (Hons) student in Business and Management, was now three weeks into his research methods module. The first part of the module had examined research philosophy and introduced the undergraduate research project. Although David had enjoyed earlier modules covering all areas of business, he was finding it difficult to see how studying research methods would benefit his aspirations of becoming an Advertising Director. Case study questions 1. How would you convince David of the value attached to studying research methods? 15  JGI JAIN DEEM ED-T O-BE UNI VE R SI TY UNIT 2: Business Research and Strategies 2. What are the key skills David requires in order to complete his research project? Self-Assessment Questions I. Short answer questions: 1. Define Research philosophy. 2. What is meant by Time horizon 3. What are the three main research philosophies? 4. Define problem statement. 5. How to formulate Hypothesis? II. Medium answer questions: 1. Write the difference between Inductive and Deductive theory 2. Briefly explain Experimental research 3. What is Grounded theory and Ethnography research 4. Write about action research and case study research 5. What are the techniques and procedures in research III. Long answer questions: 1. What is the nature of business research and it importance in the organization? 2. Write about Epistemology. By giving suitable examples in detail 3. What are Ontological studies and how it is different from epistemology? 4. What are Longitudinal studies and Cross sectional studies? explain in detail. 5. What is the difference between Quantitative research and Qualitative research? 2.7 POST-UNIT READING MATERIAL  Bell, J. (2010) Doing Your Research Project: A Guide for First-Time Researchers in Education, Health and Social Science (5th edn).  Maidenhead: Open University Press. Blumberg, B., Cooper, D.R. and Schindler, P.S. (2011) Business Research Methods. London:  McGraw-Hill. Bryman, A. (2012) Social Research Methods (4th edn). Oxford: Oxford University Press. 16  UNIT 2: Business Research and Strategies JGI JAIN DEEM ED-T O-BE UNI VE R SI TY   Collis, J. and Hussey, R. (2009) Business Research: A Practical Guide for Undergraduate and Postgraduate Students.  Houndsmill: Palgrave Macmillan. Easterby-Smith, M., Thorpe, R. and Jackson, P.R. (2012) Management Research (4th edn). London: Sage.  Molina-Azorin, J.F. (2011) ‘The use and added value of mixed methods in management research’, Journal of Mixed Methods Research, 5 (1): 7–24. Robson, C. (2011) Real World Research (3rd edn).  Chichester: John Wiley & Sons. Saunders, M.N.K. and Lewis, P. (2011) Doing Research in Business and Management: An Essential Guide to Planning Your Project. London: Prentice Hall. Thomas, G. (2009) How to Do Your Research Project: A Guide for Students in Education and Applied Social Sciences. London: Sage. 17  UNIT The Research Process Names of Sub-Units Defining The Research Problem - Problem Identification Process- Management Decision Problem - Discussion with Subject Experts - Review of Existing Literature - Organizational Analysis - Qualitative Survey - Management Research Problem - Theoretical Foundation and Model Building - Statement of Research Objectives - Formulation of the Research Hypotheses. Overview Defining a research problem properly is a prerequisite for any study and is a step of the highest importance. A problem well defined is half solved. Defining the problem is often more essential than its solution because when the problem is formulated, an appropriate technique can be applied to generate alternative solutions. This statement signifies the need for defining a research problem. The problem to be investigated must be defined unambiguously for that will help to discriminate relevant data from the irrelevant ones. When you define a research problem you are trying to reduce the outcome of an answer. The question of course when you speak about "marketing research" is how I can target more customers that I can sell my product to. You are looking for specific answers such as: "What type of soda do all foreign born males between the ages of 25-35 drink?" This is defining the problem. What do you consider foreign born males? What constitutes soda? Etc. This is important because companies and sales organization attempt to "target" their market instead of taking a shotgun approach. The process is to first make sure any information you obtain is credible and from a reputable organization. Then break down your problem and pick apart any inconsistencies you may see within you research project. Problem formulation is the key to research process. For a researcher, problem formulation means converting the management problem to a research problem. In order to attain clarity, the manager and researcher must articulate clearly so that perfect understanding of each other’s is achieved. Learning Objectives In this Unit you will learn to : After studying this unit, you will be able to:  Formulate a research problem  Identify the selection of the problem  Report the understanding of problem  State about necessity of defined problem  Demonstrate the Self Questioning by researcher while defining the problem Learning Outcomes At the end of this Unit you would:  Students should be familiar with conducting a literature review for a scholarly educational study: a. the steps in the overall process. b. The types of databases often searched. c. The criteria for evaluating the quality of a study d. The ways of organizing the material found. e. The different types of literature reviews.  Pre-Unit Preparatory Material https://www.researchgate.net/publication/350467546_Significance_of_Research_Proc ess_in_Research_Work https://www.schulich.uwo.ca/pathol/research/pdf/2a_Introduction_to_the_Research_ Process_Revision_2009.pdf Table of Topics: 1.1 Introduction: Meaning of Research Problem 1.2 Selecting a Research Problem: 1.3 Defining a Research Problem: 1.4Statement of Research Problem: 1.4. PROCESS OF FORMULATION OF A RESEARCH PROBLEM: 1.5 Procedure for reviewing the literature: Organizational Analysis - Qualitative Survey – The Formulation of Objectives: 1.8. Hypothesis –testing studies: Conclusion and Summary: 1.1 Introduction: Meaning of Research Problem Research is a scientific, systematic and purposeful search, for new knowledge or for re- interpretation of existing knowledge. It is a journey, which starts with a problem and ends with a solution. Identifying a research problem is the first and foremost step in a research process. The statement of research problem is the axis around which the whole research revolves, because it explains in brief the aims and objectives of the research. A research problem is a specific statement in the general area of investigation. It is a precise identification of a problem situation in a certain context involving what, why, who, where and when of the problem area. Who– means the person or business organization that is facing a problem? Why– means that there is a purpose, goal aim or objective to solve this problem. How– means the options of actions one can take to solve the problem? When– means the time frame in which the problem is to be solved. Where–means the environment in which the problem exists. What– means the optimum action that is to be taken in solving the problem to attain the best results? 1.2 Selecting a Research Problem: The old saying goes, “Necessity is the mother of invention”. A research study is another form of invention. Thus, if there is some necessity or a difficulty a business organization is facing, it forms a research problem that is to be investigated in order to fulfill that necessity or remove that difficulty. However, simple it may look, but selecting a research problem is a big problem in itself. Specially, when there is no apparent problem in an organization or when a student’s wants to select a research problem for the purpose of a dissertation or thesis for a degree or a diploma it becomes utmost important that the research problem must be very carefully chosen. Some of the guidelines that researcher must follow in selecting a research problem are listed below. 1. Sources of problems: First of all one should look at the sources from which one can select a research problem. Those may be readily available problem that has been identified by a person or an organization. If that is not the case, one can make use of the experience of experts of that field. The survey of related literature may also help in selection of a research problem. 2. Potential to be a research problem: One must ensure that the problem one has undertaken has potential to be called as a research problem. One should avoid trivial or meaningless problem. A research problem must provide solution to an existing problem or contribute to the body of knowledge. 3. Select non-controversial issues: Unless the problem is specifically related to issues such as religion, dogmas, beliefs, sexual preferences etc.; one should try to avoid taking up controversial subjects. 4. Researcher’s interest and competency: In selection of research problem a researcher should choose a topic of his own field of study in which he has independent mastery in both the subject and method. The problem should sustain his interest, stimulate his imagination and should be within the range of his competencies. 5. Resources available: To conduct a research study various resources are needed. A researcher must ensure the following points about the inputs of the problem: (a) Time: The study must be completed in the allotted time frame. (b) Funds: The amount of funds available from the sponsoring agencies must be known in advance and the study must be completed within given budget. (c) Size of research: The size of the investigation must be manageable and should not be too large to handle. It should also not be too small to appear as a trivial problem. (d) Co-operation of others: A researcher must ensure the necessary cooperation of colleagues and operational help of administrative authorities is available to the problem he is selecting. (e) Literature and Material: Related literature is readily available to compare and support the research findings. (f) Obtainable data: The selection of a problem should be such that the information or data needed for it is either readily available or obtainable. In short a researcher must select a research problem of his area of interest and should ensure the availability of all the comments needed to conduct the study. The consultation and guidance of experts, who have experience in that area, is a must. A researcher must seek help of such supervisors and guides in selecting a research problem. 1.3 Defining a Research Problem: Research is a disciplined approach to inquiry. It is a tool for testing as well as generating theories. Every research plan is unique in itself and has its unique research problems. An old saying is, “ a problem well defined is a problem half solved”. By defining a research problem we mean a systematic way of asking and answering research questions. Meaningful, productive and useful research depends on the development of appropriate research questions, the identification of appropriate constructs and confidence we can have in our findings. There are two main steps in defining a research problem: 1. Formulation of the problem. 2. Establishment of research objectives Formulation of a problem is the most important step in a research process. A clear statement of the problem is a key to good research. A firm may spend hundreds or thousands of rupees conducting research, but if it has not correctly identified the problem, this money is wasted. A clearly formulated research problem must answer all questions of the type Who, Why, How, When, Where, and what, regarding a research study. With the problem or opportunity defined, the next step is to set objectives for research operations. Clear objectives can lead to clear results. Research objectives, related to and determined by the problem formulation, are set so that when achieved they provide the necessary information to solve the problem. A good way of setting research objectives is to ask, “What information is needed in order to solve the problem?" Your objective might be to explore the nature of a problem so you may further define it, or perhaps it is to determine how many people will buy your product packaged in a certain way and offered at a certain price. Your objective might even be to test possible cause and effect relationships. For example, if you lower your price, how much will it increase your sales volume? And what impact will it have on your profit? The problem description, the research question, sub questions and the research objectives are part of an overall definition of a research problem.  1.3.1 Statement of Research Problem: A research problem statement has to be adequate as different people may interpret it in many ways and draw inferences that the researcher has not even thought of. It has to be established that this statement leads only in a single direction and leads only to where one wants to reach. This would also avoid new generalized issues arising out of the work. For a problem statement to be effective it should have the characteristics listed below (Andrew & Hildebrand 1982): 1. The problem reflects felt needs 2. The problem is non-hypothetical, ie it must be based on factual evidence 3. It should suggest meaningful and testable hypotheses – To avoid answers that are of little or no use to the alleviation of the problem 4. The problems should be relevant and manageable the problem Statement is therefore a very important device for keeping you on track With your research. It is also one means by which your research will Be evaluated - does the research address the problem as stated. 1.4. PROCESS OF FORMULATION OF A RESEARCH PROBLEM: An appropriate statement of research problem would need the researcher to follow the follow certain steps to be able to arrive at the expected outcome with an addition of reasonable new knowledge. 1.4.1. Developing a Conceptual Framework: The researcher has to conceptualize, identify and select a broad discipline before short listing the final aspects to be studied. Then it is to find out which of these aspects generate the maximum interest and lead one to work with enthusiasm and perseverance. Assimilate the set of questions that would address the problem adequately and formulate objectives that correspond to these questions. E.g. An upcoming hotel‘s project report would be inclusive of feasibility studies, market and competitor evaluation, budgetary and human resources requirements, approvals and licensing needed. 1.4.2. Referring the available literature on the problem: An extensive literature reference is necessary to find out the available information about the identified problem. It assists in understanding the earlier work done in the similar area and prevents the chances of doing a repetitive work. It is the study of available knowledge in the field and esp. in the perspective of problem stated by the researcher. It provides a