RM Project

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    05-Dec-2015

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Chapter 1Define research? What are the characteristics of research?Research means a systematic investigative processemployedto increase or revisecurrentknowledgeby discovering newfacts. It is divided into twogeneralcategories: (1)Basic researchisinquiryaimed at increasingscientific knowledge, and (2)Applied researchis effort aimed atusingbasic research for solvingproblemsordevelopingnewprocesses,products, ortechniques.The Websters Dictionary states, Research is a careful critical inquiry or examination in seeking facts or principles; diligent investigation in order to ascertain something.William C. Emory in the book Business Research Methods defines Research is any organized inquiry designed and carried out to provide information for solving a problem.Research simply means a search for facts answers to questions and Solutions to Problems. It is a Purposive investigation. It is an Organized inquiry (It seeks to find explanations to unexplained phenomenon, to classify the doubtful propositions and to correct the misconceived facts).Characteristics of Research Scientific Method:Research uses scientific method to find facts or to provide solutions to specific problems. The researcher needs to follow a systematic procedure to conduct research. There is a set of procedures that have been tested over a period of time and are thus suitable to use in research. This means each step in the research procedure must follow the other.Scientific research in any field of knowledge cannot be conducted in a haphazard manner. Scientific research cannot be merely based on ones beliefs and imagination. To get the best possible research results, the researchers needs to adopt the scientific method of inquiry or investigation. Objective and Logical:The scientific research is objective and logical in nature. Research is based on valid procedures and principles.There is a need to collect relevant, accurate and objective data to investigate into the research problem. Researchers need to make every possible effort to avoid bias in data collection. After collection of objective data, the researcher needs to systematically process the data, analyze and interpret it, and arrive to a logical conclusion. Wherever required, the researcher needs to systematically verify the findings and conclusions. Applied and Basic Research:The research can be broadly classified into two broad groups:Applied ResearchBasic ResearchApplied Research is designed to solve practical problems of the modern world rather than to acquire knowledge for knowledge sake. The goal of applied research is to improve the human condition. It is generally used to solve a particular problem. For instance, a social research can be conducted to study the problem of unemployment in rural areas, and based on the research findings; appropriate measures can be taken by Government authorities to reduce the problem of unemployment.Basic or fundamental research is driven by scientists curiosity or interest in scientific question. The main goal of basic research is to expand mans knowledge. There is no obvious commercial value to the discoveries that result from basic research. For instance, basic research can be undertaken to study the origin of the universe. Basic research lays down the foundation of the applied science that follows. Empirical Nature of Research:

Research can be based on direct experience or observation by the research. Empirical research is undertaken to study certain situations or events based on experiments, observation and surveys. In empirical research, the researcher develops a hypothesis and then collects data to prove it or to disprove it. Generalisation:Research findings can be applied to larger population. A researcher can conduct research on a sample of respondents that represent the universe. The sample selection must be done systematically so that it properly represents the whole population or the universe. The research findings based sample population can then be generalized and applied to the whole universe. Therefore, generalization takes place when research findings based on sample responses are applied to whole population. Controlled Nature of Basic Research:In real life experience there are many factors that affect an outcome. A single event is often the result of several factors. When similar event is tested in research, due to the broader nature of factors, some factors are taken as controlled factors while others are tested for possible effects. In pure sciences it is very easy to control certain factors because lab experiments are conducted. However, it is difficult to perform controlled laboratory experiments in the case of social science research, although to a limited extent laboratory experiments are possible in social sciences as well. Development of Principles and Theories:A systematic research helps to develop new principles and theories. Such principles and theories can be useful to several organizations to manage and deal with people and things in a better way. The general laws or theories developed through research may enable us to make reliable predictions of events, which have not yet occurred. Multipurpose Activity:Research is a multipurpose activity. It helps to develop new facts or verify old facts. It helps not only to predict future events, but also may help to control such events. It establishes casual relationships between variables. It also helps to develop new scientific tools, concept and theories, which would facilitate reliable and valid study of human behavior and other aspects. Manipulation of Concepts:The researcher tries to manipulate things, or concepts. The manipulation or purposeful control of things, or concepts is done with a definite purpose so as to arrive at statements of generality. For instance, a researcher may manipulate the environment in a workplace such as lighting, or layout or seating arrangement to find out its impact on the productivity of the employees. Quantitative and Qualitative Research:Research undertaken to measure quantity or amount is called a quantitative research. For instance, research undertaken to find out the number of unemployed graduates or the number of unemployed in general. On the other hand, research, which is undertaken to find out the quality of a particular situation or phenomenon, is called as qualitative research. For instance, a research undertaken to find out the reasons as to why employees remain absent from work, or why people behave in certain manner. The motivational research is an important type of qualitative research. Qualitative research is especially important in the behavioral sciences where the main aim is to find out the underlying motives of human behavior. Research- a process:Research is a systematic process. It involves a number of steps. The main steps include:Formulating the research problem or situation.Explain the need and importance of research in business.Abusiness research programis surely a preferred way for businesses to train and educate their managers and other staff members in a vast array of different fields. Business research can relate to economics, business strategy and ethics, in fact, anything associated with modern business and Trade. Undertakingresearch in business managementis important since it aids a business plan for the future, based on what may have occurred in earlier times. If performed effectively it can help an organization to make plans on how to become more viable in its field. Testing of new products:Business research tests the possible success of fresh products. Businesses need to know what kinds of services and products consumers want before they produce them. Research will reduce risk Research can help design a new product or service, figuring out what is needed and ensure that the development of a product is highly targeted towards demand. Guaranteeing adequate distribution:Businesses can also use research to guarantee sufficient distribution of their products. For instance, a consumer products company might want to speak with merchants about the various brands they offer. The outcomes of the business research can help managers decide where they need to increase their product distribution. In-house research is required for professional and self-development of the workers through training and mentoring. Organizational research and analysis would also be needed for assessment of performance management, process reengineering, departmental assessment and well-being of staff members.Undertaking research can help a company avoid future failure. Carrying out research can also help a business determine whether now is the right time to expand into another town or whether it needs to apply for a new loan. It may also help a small business decide if a process should be altered or if more needs to be done to meet the requirements of the customer base. Studying the competition:Businesses frequently make use of research to study key rivals in their Markets. Businesses will often begin with secondary research information or information which is currently accessible. Research is important for any organization to remain competitive in the market. The top function of research is to supply a business with an outlet to correctly determine its customers. With the help of surveys, an organization can analyze the preferences of its target consumers. Furthermore, these studies could also provide a business the chance to examine its competitors in the industry and analyze and emulate key strategies which could help in its operations.

Reduction in costs:Research in business helps a firm to reduce costs. The research may indicate the areas where high costs are involved. It may be possible for the firm to cut down the costs in certain areas. Therefore, cost-reduction will improve the overall efficiency of the organization, i.e., the organization will be in a position to achieve higher returns at a lower cost. Customer