RESEARCH METHODS REVIEW

REPORT
1007 words
Table of Contents
Research Question and Contribution .......................................................................................................... 2
Research Methodology ................................................................................................................................ 2
Advantages of Mixed Methods .................................................................................................................... 3
Disadvantages of Mixed Methods ............................................................................................................... 4
Alternative Research Methodology ............................................................................................................. 5
References .................................................................................................................................................... 6
Research Question and Contribution
This paper is exploratory in nature with no explicit research question. The aim of the

paper is to explore the work culture of banking and insurance multinationals in the UK in

the five years period immediately prior to the global financial crisis of 2008 (McCann,

2013). The paper recognises the cultural changes in financial services firms in the UK

and seeks to explore the impacts of these cultural changes on middle and low level

employees in these firms. Based on the existing literature, paper argues that in line with

other industries, financial services firms have also witnessed considerable

organisational change which entails a focus towards increasing shareholder value

(Lazonick and O’Sullivan, 2000). This increased focus on maximising shareholder value

affords tremendous leverage to shareholders and investors. The study assumes that the

increased shareholder power has affected change in banking and insurance firms

making the work environment for low and mid level employees stressful, excessively

competitive and insecure (McCann, 2013). Therefore, the paper explores the views of

the employees in response to the new culture of continuous change, strict performance

management and work intensification. The study contributes to Labour Process Theory

and suggest ways for the theory to explain the challenges faced by the employees as

well as the organisation due to the changing work culture at financial services firms.

Research Methodology
This research employed mixed method involving both quantitative as well as qualitative

research methods. All the subjects of the research worked in banking or insurance firms

in the UK. Besides, all the subjects were members of the financial services section of a

trade union named Unite. Quantitative data were obtained from 112 respondents using

a survey questionnaire which was delivered to and submitted by the respondents online.
Survey used structured questions in order to collect quantifiable data from the

respondents. Simple descriptive statistics including mean, standard deviations and

frequencies of certain responses to different questions was conducted on the data to

make it meaningful (McCann, 2013). However, it falls short of establishing any causal

relationships and remains exploratory and qualitative in nature. Qualitative data, on the

other hand, were collected using semi-structured interviews. The researchers

conducted interviews with 20 respondents that agreed to meet in person to give the

interviews. These interviews were conducted over a period of nine months at the

convenience of each respondent regarding time and place. The researchers recorded

and transcribed 12 interviews, while took notes in the other eight interviews and

recreated the interviews on following days. The transcripts of these interviews were then

analysed to identify recurring themes related to the research questions and purpose of

the study (McCann, 2013).

Advantages of Mixed Methods

Mixed methods research helps in complementing the inherent weaknesses of

quantitative and qualitative research methods. Qualitative research does not include

statistical analysis and thus may be tainted by the researcher’s bias. On the other hand,

although quantitative research involves statistical analysis and lends credibility to the

scientifically collected data, it does not take into account the context of the data

collection and therefore may lack in contextual depth (Johnson et al., 2007). Using both

research methods in one research allows for statistical analysis as well as exploration

simultaneously, thus offsetting the weaknesses of both methods (McKim, 2017).

Besides, researchers can have more comprehensive data using different data collection

tools available in both research methods.

Mixed methods afford the researchers the ability to conduct deductive and inductive

reasoning at the same time which results in exploring the research problem in a more

comprehensive manner from different perspectives. Qualitative data complement the

results obtained from the statistical analysis performed on quantitative data and provide

meaning and context to the final results. Informed conclusion can then be drawn from

the findings using the additional evidence (Small, 2011). Lastly, integration of statistical

analyses and observations lend additional validity to the results and also give

confidence to the audience of the study (Creswell and Creswell, 2017).

Disadvantages of Mixed Methods

One of the biggest disadvantages of using mixed methods is the excessive resources

required to conduct the research. A lot more time is needed to conduct mixed methods

research than to conduct a study involving only one research method. It takes additional

time for the researcher to collect different types of data for two different research

methods and then analyse both sets of data using different tools (McKim, 2017). For

instance, McCann (2013) required almost 9 months to conduct the interviews only at the

convenience of the interviewees. Similarly, researcher may need more money for

different tasks and the services of an assistant during the data collection process

(Creswell and Creswell, 2017).

Most of the researchers are trained or have expertise in conducting either quantitative

or qualitative research. Workable knowledge of both research methodologies is required

if the research wants to use mixed methods (Small, 2011). If the researcher is not
equally conversant in conducting quantitative as well as qualitative research, they might

have to first study and practice the research method they are not fully conversant in.

The other option for them is to find another researcher who can complement the skills of

the researcher which could possibly mean spending more money and resources

(McKim, 2017).

Alternative Research Methodology

This study uses mixed research method employing both quantitative as well as

qualitative research methods. Although the researcher has collected quantitative data

using survey and conducted descriptive statistical analysis on the data, the paper falls

short of statistically establishing a causal relationship between the dysfunctional work

culture especially at the levels of low and mid level employees and the global financial

crisis of 2008. Hypotheses testing and exploring causal relationship among constructs is

the cornerstone of quantitative research. Statistical relationships among variables lend

scientific credibility to a research study (Johnson et al., 2007). Since this study does not

involve hypotheses testing and exploring causal relationships, it remains exploratory in

nature. It could be beneficial for this study to try to establish causal relationships

between employee dissatisfaction and organisational performance, and dysfunctional

work culture and global financial crisis.

References
Creswell, J.W. and Creswell, J.D., 2017. Research design: Qualitative, quantitative, and

mixed methods approaches. Sage publications.

Johnson, R.B., Onwuegbuzie, A.J. and Turner, L.A., 2007. Toward a definition of mixed

methods research. Journal of mixed methods research, 1(2), pp.112-133.

Lazonick, W. and O'sullivan, M., 2000. Maximizing shareholder value: a new ideology

for corporate governance. Economy and society, 29(1), pp.13-35.

McCann, L., 2013. Managing from the echo chamber: Employee dismay and leadership

detachment in the British banking and insurance crisis. critical perspectives on

international business, 9(4), pp.398-414.

McKim, C.A., 2017. The value of mixed methods research: A mixed methods

study. Journal of Mixed Methods Research, 11(2), pp.202-222.

Small, M.L., 2011. How to conduct a mixed methods study: Recent trends in a rapidly

growing literature. Annual review of sociology, 37, pp. 57-86.