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Presented By:
Parakramesh JaroliMBA (Dual) II - Semester
MEANING & NATURE OF RESEARCH
UNIT 1.1
BUSINESS RESEARCH METHODS - I
What is Research?
Research is an art of scientific investigation.It is regarded as a systematic efforts to gain new
knowledge.The dictionary meaning of research is “a careful
investigation or enquiry especially through search for new facts in any branch of knowledge”.
BUSINESS RESEARCH METHODS - I
Definition of Research
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.
-Clifford Woody
BUSINESS RESEARCH METHODS - I
Nature of Research
• It strives to be objective and logical.• It is based on observable experience or
empirical evidence.• It is characterised by patient and unhurried
activity.• It demands accurate observations,
reservations and descriptions.
BUSINESS RESEARCH METHODS - I
Contd…
• It is directed towards the solution of the problem.
• It is carefully recorded and reported.• It requires expertise.• It involves gathering new data from primary or
firest hand sources or using existing data for new purpose.
BUSINESS RESEARCH METHODS - I
Objectives of Research
• To investigate a subject.• To collect data regarding the problem.• To conduct logical and objective study.• To conduct a systematic enquiry of the
subject.• For carefully recording, reporting and
presenting the facts.
BUSINESS RESEARCH METHODS - I
BUSINESS RESEARCH METHODS - I
Types of Research
Fundamental Research
Empirical Research
Analytical Research
Qualitative Research
Conceptual Research
Applied Research
Descriptive Research
Quantitative Research
Historical Research
Flow Chart of Research Process
BUSINESS RESEARCH METHODS - I
Define Research Problem
Review of theLiterature
Formulate Hypothesis Design Research Collection of
Data
Analyze the Data
Interpret &
Report
Significance of Research
• It provides the basis for nearly all government policies in our economic system.
• It helps in solving various operational and planning problems of business and industry.
• It is an aid to decision making.• It establishes the relation between variables.
BUSINESS RESEARCH METHODS - I
Contd…
• It is equally important for social scientists in studying social relationships and in seeking answers to various social problems.
• It provides a basis for innovation.• It facilitates the process of thinking, analysis,
evaluation and interpretation of various situation.
BUSINESS RESEARCH METHODS - I
Criteria for Good ResearchCriteria for Good Research
• Purpose should be clearly defined.• Common concepts should be used that can be
understood by all.• Research procedure should be explained in
detail.• Research design should be carefully planned.• Researcher should declare all the possible
errors and their possible impact on finding.
BUSINESS RESEARCH METHODS - I
Contd…
• Analysis of data should be sufficiently adequate to reveal significance.
• The methods of analysis should be appropriate.
• The validity and reliability of the data should be checked carefully.
• The researcher have good command over research methodologies and should be intelligent and experience.
BUSINESS RESEARCH METHODS - I
Limitations of Research• It is based on sample & sampling research lacks the
complete accuracy.• Long time is required in the research procedures.• Difficult to evaluate the economic benefits derived
from the research.• Trained personnel and a lot of time are required for
research.• Lack of adequate knowledge of research.
BUSINESS RESEARCH METHODS - I
