Business Research Methods (RMB 203) Anurag Mittal
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What is research?
Management research is an unbiased, structured, and sequential method of
enquiry, directed towards a clear implicit or explicit business objective. This
enquiry might lead to validating existing postulates or arriving at new
theories and models.
 Search for knowledge.
 A scientific and systematic search for pertinent information on a
specific topic.
 Research is an art of scientific investigation.
 Systematized effort to gain new knowledge.
 It is a movement from known to unknown.
 It is a voyage of discovery.
 According to clifford woody- “ research comprises defining and
redefining problems, formulating hypothesis or suggested solutions;
collecting, organizing and evaluating data; making deductions and
reaching conclusion; testing the conclusions to determine whether
they fit the formulating hypothesis.
OBJECTIVES
 To gain familiarity with a phenomenon or to achieve new insight into
it.
 To portray accurately the characteristics of a particular individual,
situation, or a group.
 To determine the frequency with which something occurs or with
which it is associated with something else.
 To test a hypothesis of a casual relationship between variables.
Motivation in research
 To get a research degree along with consequential benefits.
 To face the challenge in solving the unsolved problem.
 To get intellectual joy of doing some creative work.
 To serve the society.
 To get respectability.
When you say that you are undertaking a research study to find answers
to a question, you are implying that the process;
1. is being undertaken within a framework of a set of philosophies
(approaches);
2. uses procedures, methods and techniques that have been tested for their
validity and reliability;
3. is designed to be unbiased and objective.
 Philosophies mean approaches e.g. qualitative, quantitative and the
academic discipline in which you have been trained.
 Validity means that correct procedures have been applied to find
answers to a question. Reliability refers to the quality of a
measurement procedure that provides repeatability and accuracy.
 Unbiased and objective means that you have taken each step in an
unbiased manner and drawn each conclusion to the best of your
ability.
CHARACTERISTICS OF RESEARCH:
 Controlled-The concept of control implies that, in exploring
causality in relation to two variables (factors), set up your study in a
way that minimizes the effects of other factors affecting the
relationship.
 Rigorous- procedures followed are relevant, appropriate and
justified.
 Systematic-the procedure adopted to undertake an investigation
follow a certain logical sequence.
 Valid and verifiable-whatever you conclude on the basis of
your findings is correct and can be verified by you and others.
 Empirical-conclusion drawn are based upon hard evidence
gathered from information collected from real life experiences or
observations.
 Descriptive Research:- It includes surveys and fact finding
enquiries of different kinds. Purpose of descriptive research is
description of the state of affair as it exists at present.
It is also known as Ex post facto research because researcher has no
control over variables.
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 Analytical Research:- Researcher use facts or information already
available, and analyze these to make a critical evaluation of the
material.
 Applied Research:- It is used for finding a solution for an
immediate problem facing a society or a business organization.
Marketing research or evaluation research are the examples of
applied research
 Fundamental Research:- It is concerned with generalization and
with formulation of a theory.
“Gathering knowledge for knowledge”.
It is also known as pure or basic research.
 Quantitative Research:- It is based on measurement of quantity
or amount. It is applicable to phenomenon that can be expressed in
terms of quantity.
 Qualitative Research:- It is concerned with qualitative
phenomenon. This types of research aims at discovering the
underlying motives and desires, using in depth interviews.
 Conceptual Research:- It is related to some abstract ideas or
theory. It is generally used by the philosophers and thinkers to
develop new concepts or to reinterpret existing one.
 Empirical Research:- It relies on experience or observation alone,
without due regard for system or theory. It is data based research,
coming up with conclusions which are capable of being verified by
observation or experiment.
It is a kind of experimental research.
 One Time Research:- Research is confined to single time period.
 Longitudinal Research:- Research is carried on over several time
periods.
 Clinical Research:- Research follow case study methods or in-
depth approaches to reach the basic casual relations.
 Historical Research:- Research uses historical sources like
documents, journals etc.
Research Methods VS Research Methodology
 Research Methods:- All those methods or techniques that are used
for conduction of research.
 It includes Those methods which are concerned with the collection
of data.
 It consists statistical techniques which are used for establishing
relationships b/w data and unknowns.
 Methods which are used to evaluate the accuracy of the results
obtained.
 Research Methodology:-
 It is a way to systematically solve the research problem.
 It is a science of studying how research is done scientifically.
 We study various steps that are adopted by researcher in studying his
research problem along with the logic behind them.
 Researchers not only need to know how to develop certain indices or
tests, How to calculate mean, mode, median or standard deviation
and how to apply them, but they also need to know which of these
methods or techniques are relevant and which are not, and what they
mean and indicate and why.
Criteria of a Good Research
 An ideal research should have
(i) clearly defined purpose and common concepts;
(ii) procedures described in details for further advancement;
(iii) a complete frank report with no manipulations;
(iv) procedural design of research carefully planned as to yield
results that are as objectives as possible;
(v) limits and justification of data for adequate conclusions;
(vi) proper analysis of data, methods used, and proper checking for
the validity and reliability of data; and
(vii) warranty for research through reputation, experience and
intelligence of the researcher.
Research and Scientific Method
 Research
Research is an enquiry into the nature of the reasons for, and
the consequences of any particular set of circumstances, whether
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these circumstances are experimentally controlled or recorded just as
they occur. Research applications in marketing
 Scientific Method  Market & consumer analysis
The scientific method is a body of techniques for  Product research
investigating phenomena, acquiring new knowledge, or correcting  Pricing research
and integrating previous knowledge. To be termed scientific, a  Promotional research
method of inquiry is commonly based on empirical or measurable  Place research
evidence subject to specific principles of reasoning. Research applications in finance
Scientific method is the application of valid and reliable  Asset pricing, capital markets and corporate finance
research methods. It has three distinct characteristics viz. (i)  Financial derivatives and credit risk modeling research
objectivity; (ii) accuracy of measurement; and (iii) self criticism.  Market-based accounting research
Scientific methods encourage a rigourous, impersonal mode of  Auditing and accountability
procedure dictated by the demands of logic and objective procedure.  Other areas: financial forecasting, behavioural finance, volatility
Scientific method implies an objective, logical and systematic analysis
method that is a method free from personal bias or prejudice, a
method to ascertain demonstrable qualities of a phenomenon capable Research applications in human resources
of being verified, a method wherein the researcher is guided by the  Training & development studies
rules of logical reasoning, a method wherein the investigation  Selection and staffing studies
proceeds in an orderly manner and a method that implies internal  Performance appraisal–design and evaluation
consistency.  Organization planning and development
 Incentive and benefits studies
Characteristic Features of Scientific Methods  Emerging areas–critical factor analysis, employer branding studies
 Objective Research applications in
 Verifiable production & operations management
 Definite  Operation planning and design
 Predictable  Demand forecasting and demand estimation
 General  Process planning
 Modifiable  Project management and maintenance effectiveness studies
Research/Scientific Methods/Discovery  Logistics and supply chain-design and evaluation
 Discovery  Quality estimations and assurance studies
Discovery can be defined as getting the knowledge of Criteria for research
something new without an urge to obtain that knowledge and without  MUST have: a clearly stated research purpose/ objective
any doubt or question in mind regarding it, and is obtained  MUST have: a sequential plan of execution
accidentally and unknowingly.
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 MUST have: a logical and explicitly stated justification for the
selected methods
 MUST have: an unbiased and neutral method of conduct and
reporting
 MUST have: complete transparency and ethical conduction of the
research process
 MUST have: provision for being reliable & replicable
Problems Encountered by Researchers
 Lack of scientific training in the research methodology
 Insufficient interaction between the university research department,
business and government departments, research institutions.
 Lack of faith on researcher as business units have a fear that the data
provided by them may be misused.
 Research studies overlapping one another are undertaken quite often
for want of adequate information.
 There does not exist a code of conduct for researchers and inter
university and interdepartmental rivalries are also quite common.
 Many researcher in our country also face the difficulty of adequate
and timely secretarial assistance, including computerial assistance.
 Library management and functioning is not satisfactory.
 There is also a problem of timely availability of published data by
various government and other agencies.
Research Problem
What is a Research Problem?
Research problem refers to some difficulty which a
researcher experiences in the context of either a theoretical or
practical situation and wants to obtain a solution for the same.
For example, there must be at least two outcomes, say O1
and O2, of the course of action, of one should be preferable to the
other. This means that there must be at least one outcome that
researcher wants that is, an objective.
There must be at least two course of action, say C1 and C2,
to be pursued. A course of action is defined by one or more values of
the controlled variables for example, the number of items purchased
at a specified time is said to be one course of action.
The Components of a Research Problem
There are five components of a research problem. There must
(i) Be an individual or a group which has some difficulty or
Problem;
(ii) Be some objectives to be attained at. If one wants nothing, one
cannot have problem;
(iii) Be alternative means (or the course of action) for obtaining
the objectives one wishes to attain. This means that there must be
two means available for the researcher, for if he has no choice of
means, he cannot have a problem;
(iv) Be some environment to which the difficulty pertains;
(v) Remain some doubt in the mind of a researcher with regard to
the selection of the alternatives. This means that the researcher must
answer the questions concerning the relative efficiency of the
possible alternatives.
Selection of a Research Problem
There are certain points to be kept in mind while selecting the
research problem such as the following:
(i) Too narrow or too vague problems should be avoided.
(ii) Controversial subjects should not become the choice of an
average researcher.
(iii) Over studied over exhausted subject should not be chosen for the
research.
(iv) Familiar and feasible subjects should be selected for the research
work for the ease of attaining optimal solutions.
(v) The subject, expertise, qualification and the training of the
researcher, the cost of the research, the time required for
completion—all these must be considered.
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(vi) The selection of a problem must be preceded by a preliminary  Section B: Review of the Related Literature
study.  Section C: Methodology
Technique Involved in Defining a Research Problem  Section D: Ethical/ Legal Consideration
It comprises of:  Section E: Time Schedule
(i) Statement of the problem in a general way  References
(ii) Understanding and exploring the nature of the problem Title
(iii) Surveying the available literature.  As per your study.
(iv) Developing the ideas through discussion. Abstract
(v) Rephrasing the research problem.  Is a summary of the whole research;
 Main purpose is to summarize the research (particularly the objective
What is a research proposal? and the main finding/conclusion), NOT to introduce the research
A research proposal sets out the broad topic you would like to research area.
(substance), what the research would set out to achieve (aims and objectives),  Has a maximum word limit;
how you would go about researching it (methodology), how you would  An abstract should briefly:
undertake it within the time available (outline plan) and what the results  Re-establish the topic of the research.
might be in relation to knowledge and understanding in the subject (potential  Give the research problem and/or main objective of the research.
outcomes).  Indicate the methodology used.
Purpose of a Research Proposal  Present the main findings and conclusion.
 Research proposal is intended to convince others that you have a Section A :Introduction
worthwhile research project and that you have the competence and  Background of the study
the work-plan to complete it.  Statement of the problem
 The purpose of a proposal is to sell your idea to the funding agency.  Research Objectives
This means that the investigator must convince the funding agency  Research questions
that:  Significance of the study
 The problem is significant and worthy of study  Scope of the study
 The technical approach is novel and likely to yield results  Delimitations of the study
 The investigator and his/her research team is/are the right group of  Assumptions of the study
individuals to carry out and accomplish the work described in the  Definitions of key terms
research proposal. Background of the study
Elements of a Research Proposal  “The introduction is the part of the paper that provides readers with
 Title the background information for the research reported in the paper. Its
 Abstract purpose is to establish a framework for the research, so that readers
 Table of Content can understand how it is related to other research”
 Section A: Introduction  In an introduction, the writer should
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 create reader interest in the topic,
 lay the broad foundation for the problem that leads
to the study,
 place the study within the larger context of the
scholarly literature, and
 reach out to a specific audience.
Statement of the Problem
 “The problem statement describes the context for the study and it
also identifies the general analysis approach”.
 A problem statement is a clear description of the issue(s), it includes
a vision, issue statement, and method used to solve the problem.
 The 5 'W's can be used to spark the discussion about the problem.
 A problem statement expresses the words that will be used to keep
the effort focused and it should represent a solveable problem.
FORMING A PROBLEM STATEMENT
I wish I knew how to eliminate drug use amongst youth in the
community.”
 Who… anyone under the age of 18 who is using drugs in my
community
 When… after school, sometimes during school, on the weekends
 Where… in the parks, in parking lots, at shopping malls, at home
when
 parents are gone
 What.… marijuana, stimulants, ecstasy, sniffing glue
 Why… bored, everyone else is doing it, makes me feel better, gives
me energy, it’s no big deal, it doesn’t hurt
 The answers generated make me reconsider the problem. After I look
more
RESEARCH OBJECTIVES
 The OBJECTIVES of a research project summaries what is to be
achieved by the study.
 Objectives should be closely related to the statement of the problem.
For example, if the problem identified is low utilization of child
welfare clinics, the general objective of the study could be to identify
the reasons for this low utilization, in order to find solutions.
 The general objective of a study states what researchers expect to
achieve by the study in general terms.
 It is possible (and advisable) to break down a general objective into
smaller, logically connected parts. These are normally referred to as
specific objectives.
 Specific objectives should systematically address the various aspects
of the problem as defined under ‘Statement of the Problem’ and the
key factors that are assumed to influence or cause the problem. They
should specify what you will do in your study, where and for what
purpose.
Research Hypotheses
 Based on your experience with the study problem, it might be
possible to develop explanations for the problem, which can then be
tested. If so, you can formulate hypotheses in addition to the study
objectives.
 A HYPOTHESIS is a prediction of a relationship between one or
more factors and the problem under study that can be tested.
 a hypothesis represents a declarative statement of the relations
between two or more variables.
Research Questions
 Questions are relevant to normative or census type research (How
many of them are there? Is there a relationship between them?).
 They are most often used in qualitative inquiry, although their use in
quantitative inquiry is becoming more prominent.
 A research question poses a relationship between two or more
variables but phrases the relationship as a question.
Examples of research questions
 What is the impact of a study skills program on student
achievement?
 What is the effect of teaching keyboarding skills to sixth grade
students on word processing skills and quality of writing?
Significance of the Study
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 Indicate how your research will refine, revise, or extend existing
knowledge in the area under investigation. Note that such
refinements, revisions, or extensions may have either substantive,
theoretical, or methodological significance.
 This can be a difficult section to write. Think about implications—
how results of the study may affect scholarly research, theory,
practice, educational interventions, curricula, counseling, policy.
When thinking about the significance of your study, ask yourself the
following questions.
• What will results mean to the theoretical framework that
framed the study?
• What suggestions for subsequent research arise from the
findings?
• Will results influence programs, methods, and/or
interventions?
• Will results contribute to the solution of educational
problems?
• Will results influence educational policy decisions?
• What will be improved or changed as a result of the
proposed research?
• How will results of the study be implemented, and what
innovations will come about?
Limitations and Delimitations
 A limitation identifies potential weaknesses of the study.
Think about your analysis, the nature of self-report, your
instruments, the sample. Think about threats to internal
validity that may have been impossible to avoid or minimize.
 A delimitation addresses how a study will be narrowed in
scope, that is, how it is bounded. This is the place to explain
the things that you are not doing and why you have chosen
not to do them—the literature you will not review (and why
not), the population you are not studying (and why not), the
methodological procedures you will not use (and why you
will not use them). Limit your delimitations to the things that
a reader might reasonably expect you to do but that you, for
clearly explained reasons, have decided not to do.
Review of the Related Literature
 “The review of the literature provides the background and
context for the research problem. It should establish the need
for the research and indicate that the writer is knowledgeable
about the area
 The literature review accomplishes several important things.
 It shares with the reader the results of other studies
that are closely related to the study being reported.
 It relates a study to the larger, ongoing dialogue in
the literature about a topic, filling in gaps and
extending prior studies.
It provides a framework for establishing the importance of the study,
as well as a benchmark for comparing the results of a study with
other findings.
 It “frames” the problem earlier identified.
Section C: Methodology
 Design of the study
 Population and sampling
 Research Instruments
 Pilot study
 Instrument Reliability and Validity
 Method of Data Collection
 Plan of Data Analysis
Research Design
 Design – a description of the approach to be used to reach objectives.
 Clearly indicate the methods of data collection either within a
quantitative or qualitative methodology; as well as the techniques for
data collection, e.g. questionnaires, and measurement (the validation
of the techniques). Indicate whether field workers will be used to
collect data and whether computer programmes will be employed to
analyse the data.
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Population and Sampling
 A population can be defined as including all people or items with the
characteristic one wishes to understand
 Population sampling refers to the process through which a group of
representative individuals is selected from a population for the
purpose of statistical analysis.
Instruments
 In this sub-section of the method section, you describe any apparatus
and/or instruments you propose to use in your research study.
 The following information should be included:
 
 General description of the instruments.
 Variables measured by instruments.
 Reliability and validity of instruments.
 Why the instruments or apparatus are used.
 Reference indicating where apparatus or instruments can be
obtained.
Data Analysis
 Specify the procedures you will use, and label them
accurately (e.g., ANOVA, MANCOVA, HLM,
ethnography, case study, grounded theory). If coding
procedures are to be used, describe in reasonable
detail. If you triangulated, carefully explain how you
went about it. Communicate your precise intentions
and reasons for these intentions to the reader. This
helps you and the reader evaluate the choices you
made and procedures you followed.
 Indicate briefly any analytic tools you will have
available and expect to use (e.g., Ethnography, SAS,
SPSS).
 Provide a well thought-out rationale for your
decision to use the design, methodology, and
analyses you have selected.
Section D: Ethical/ Legal Consideration
 Human research participants need:
 • Informed consent
 • Voluntary participation
• Restricted use of deception
 • Debriefing
 • Confidentiality
Section E: Time Schedule
 This section indicates exactly what will be done, the sequence of the
various activities, and the products of deliverables that will be
prepared. Specify the tasks, deliverables, and schedule in some
detail.
 In preparing grant proposals, there is more freedom to define the
tasks. In both cases, it is important that the proposed task structure
includes all of the activities necessary for completing the project.
 Planning a viable schedule for carrying out the tasks is often as
important as developing a comprehensive list of tasks.