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Page 1: Introduction

Understanding Research Methodology Course

  • Aim: To educate students on the significance of market research in business.

  • Focus Areas:

    • Scope of Research

    • Comprehensive methods for conducting complete research programs.

    • Company-based market research projects to provide practical experience and insight into market challenges.

  • Objective: To equip young students with skills, knowledge, and experience for professional identity development.

  • Compiled by: Assistant Professor Kshamata Sachin Lad

Page 2: Course Objectives and Outcomes

Course Objectives

  1. Educate students on research concepts in business.

  2. Engage students in supervised professional experiences in research.

  3. Deepen understanding of specific research areas.

  4. Acquire on-the-job skills and knowledge to shape professional identity through research.

Course Outcomes

  1. Execute independent research that evaluates environmental and societal relevance.

  2. Connect theories to methodologies and draw conclusions based on data.

  3. Critically discover and review relevant information sources.

  4. Apply qualitative/quantitative evaluations to original data.

  5. Understand and uphold ethical standards in data collection and evaluation.

  6. Communicate research ideas clearly in written and oral forms.

Page 3: Concept of Research

Understanding Research

  • Definition:

    • Research is a systematic search for knowledge and new facts, as per the Advanced Learner’s Dictionary.

    • Redman and Mory define it as a “systematized effort to gain new knowledge.”

    • Research often reflects human curiosity about the unknown.

  • Nature: Research can be viewed as a movement from known to unknown, emphasizing inquiry and investigation.

Page 4: Technical Definition of Research

Academic Activity

  • Clifford Woody's Definition:

    • Involves defining problems, formulating hypotheses, collecting & evaluating data, and reaching conclusions.

  • D. Slesinger & M. Stephenson:

    • Research manipulates concepts for knowledge verification and theory construction.

  • Nature of Business Research:

    • Business research focuses on knowledge regarding organizations, markets, and economies.

Page 5: The Role of Researcher in Business

Business Researcher

  • Types:

    • Marketing researcher, organizational researcher, financial researcher.

  • Commonality:

    • Both specialized areas utilize similar research methods.

  • Significance:

    • Reduces information uncertainty in managerial decision-making and transitions management from intuition to systematic investigation.

Page 6: Objectives of Research

Broad Groupings of Research Objectives

  1. Gain familiarity and insights (Exploratory research).

  2. Accurately portray characteristics (Descriptive research).

  3. Determine frequency or association (Diagnostic research).

  4. Test causal relationships (Hypothesis-testing research).

SMART Research Objectives

  • Specific: Clear and defined objectives.

  • Measurable: Define measurement methods.

  • Achievable: Set realistic targets.

  • Relevant: Address research problems effectively.

  • Time-based: Establish deadlines for objectives.

Page 7: Writing and Structuring Research Objectives

Importance of Clear Objectives

  1. Establish scope and depth.

  2. Contribute to research design and methods.

  3. Indicate research project's contribution to existing knowledge.

Example Process for Writing Objectives

  1. General aim: Assess self-driving cars' safety features.

  2. Specific objectives: Measure response times of self-driving cars.

Page 8: Motivation for Research

Reasons for Undertaking Research

  1. Pursuing a research degree.

  2. Solving practical problems.

  3. Intellectual pursuit of creativity.

  4. Desire to serve society.

  5. Seeking respectability in academia or profession.

Page 9: Types of Research

Basic Types of Research

  • Descriptive vs. Analytical:

    • Descriptive for state-of-affairs (e.g., surveys).

    • Analytical uses existing data for evaluations.

  • Applied vs. Fundamental:

    • Applied solves immediate problems; fundamental seeks knowledge for knowledge's sake.

  • Quantitative vs. Qualitative:

    • Quantitative focuses on measurable quantities; qualitative explores motivations and reasons.

Page 10: Additional Research Types

Conceptual vs. Empirical

  • Conceptual: Involves abstract ideas or theories.

  • Empirical: Based on observations and experiments.

Other Variants

  1. Longitudinal vs. One-time Studies:

  2. Field, Laboratory, or Simulation Research Methods:

  3. Exploratory vs. Formalized: Developing hypotheses vs. testing existing ones.

  4. Diagnostic & Clinical Research Methods: Detailed cases or population studies.

Page 11: Research Approaches

Definition of Research Approaches

  • Approaches: Frameworks providing systematic ways to conduct research.

Types of Research Approaches

  1. Deductive: Testing theories/hypotheses through data.

  2. Inductive: Generating theories from data patterns.

  3. Abductive: Combining deduction and induction for best explanations.

Page 12: Research Methods and Approaches

Deductive Approach Methods

  1. Surveys and questionnaires.

  2. Experiments controlling variables.

  3. Statistical analysis.

  4. Content analysis.

Inductive Approach Methods

  1. In-depth interviews.

  2. Focus groups discussions.

  3. Observations.

  4. Grounded theory development.

Abductive Approach Methods

  1. Case studies.

  2. Triangulation of data sources.

Page 13: Applications and Use of Research Approaches

Applications

(1) Academic Research

(2) Business Research

(3) Medical Research

(4) Social Research

(5) Environmental Research

(6) Marketing Research

(7) Educational Research

(8) Legal Research