BRM Notes-2

8/3/2019 BRM Notes-2

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Relevance of Research for Decision making in various

Functional Areas of Management

Areas of skills and practices are categorized according to the four main functions of

management, including planning, leading, organizing, and coordinating.

Areas of skills and practices are categorized according to the four main functions ofmanagement, including planning, leading, organizing, and coordinating. Preparatory texts in

management frequently manage their topics according to the equal or similar classification.

Various functional areas of management are:Production(Manufacturing) management, Marketing management Financialmanagement, Personal management
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1. Production management:

Production means formation of utilities by converting raw objects in to final creation by different

scientific methods and set of laws. It is very essential field of managing. Various sub-areas of the

manufacture department are as follows.

Production planning: Managers has to arrangement about different production policies andproduction methods.

Plant lay out and location: This area deals with designing of plant arrangement, make a

decision about the plant location for various products and providing different plant utilities.


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Research and Development: This area deals with research and developmental actions ofmanufacturing branch. Refinement in existing product line or build up a new product is the most

important activities.
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Material management: This area deals with purchase, storage space, issue and manages of the

material mandatory for production division.

Quality Control:Quality control department works for manufacturing of superiority product bydoing different tests which guarantee the customer satisfaction.

2. Marketing management:

Marketing management involves sharing of the manufactured goods to the buyers. It may require

number of steps. Sub areas are as follows:

Sales management: Sales management deals with fixation of prices, genuine transfer ofproducts to the client after satisfying certain formalities and after sales services.

Advertising: This area deals with advertising of manufactured goods, introducing new product

in marketplace by different ways and support the customer to buy thee products.

Market research: It involves in gathering of data associated to product order and performance

by investigate and analysis of market.

3. Finance and accounting management:

Financial and accounting management deals with supervisory activities associated to

procurement and operation of fund for industry purpose. Its sub areas are as follows:

Management accounting: It deals with analysis and construal of financial verification so that

organization can take assured decisions on venture plans, revisit to investors anddividend policy.
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Financial accounting: It relates to record maintenance of various financial dealings their

arrangement and preparation of financial statements to demonstrate the financial situation of theorganization.

Costing: Costing deals with recording of costs, their arrangement, analysis and cost control.

Taxation: This area deals with different direct and indirect taxes which association has to pay.

Personnel Management:

Personnel management is the segment of management which deals with valuable use and control

of manpower. Following are the sub areas of Personnel management:


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Recruitment and selection: This deals with hiring and employing labor for various positions as

mandatory.

Personnel planning: This deals with preparation record of accessible manpower and genuinerequirement of staff in organization.

Training and development: Training and development deals with development of making the

employees more professional and successful by arranging trainingprogrammers.

Industrial relation: It deals with maintenance of overall employee relation, providing good

working circumstances and welfare services to employees.

Wage administration: It deals in job assessment, merit ranking of jobs and making wage and

encouragement policy for employees.

RESEARCH DESIGN

The research design is the master plan specifying the methods and procedures for collecting and

analyzing the needed information.

The research design is the blueprint for fulfilling objectives and answering questions

Design the research in a way that requisite data can be gathered and analyzed to arrive a solution

The research design is the master plan specifying the methods and procedure for collecting and

analyzing the needed information

A research design is the arrangement of condition for collection of analysis of data in a manner

that aims to combine relevance to the research purpose with economy in procedure

Decisions regarding what, where, how much, by what means concerning an inquiry or a research

study constitute a research design.

What is the study about?

Why is the study being made?

Where will the study be carried out?

What type of data is required?

Where can the required data be found?

What periods of time will the study include? What will be the sample design?

What techniques of data collection will be used?

How will the data be analyzed?

In what style will the report be prepared?

Selecting a design Methods
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may be complicated Techniques

by the availability Procedures

of a largeVariety Protocols &

of Sampling plans

TYPES OF RESEARCH DESIGN:Although every problem and research objective may seem unique, there are usually enough

similarities among problems and objectives to allow decisions to be made in advance about the

best plan to resolve the problem. Exploratory

Descriptive

Conclusive Experimental

Basic Research objectives and Design:

Research objectives Design:

To gain background information, to define terms, to clarify

Problems and develop hypotheses, to establish Exploratory

Research priorities, to develop questions to beanswered

To describe and measure marketing phenomena at a pointin time Descriptive

Exploratory research design:

Lack of clear idea of the problem develop concepts more clearly, establish priorities, develop

operational definitions save time and money area of investigation may be so new or so vague

important variables may not be known or thoroughly defined Hypothesis for the research

may be needed.Exploratory research is most commonly unstructured, informal

research that is undertaken to gain background information about the general nature of the

research problem.Exploratory research is usually conducted when the researcher does not knowmuch about the problem and needs additional information or desires new or more recent

information.

A variety of methods are available to conduct exploratory research:

Secondary Data Analysis Experience Surveys

Case Analysis

Focus Groups Projective Techniques

E.g. raw material purchase - how (& what price spreads) are raw material was substituted for

another for certain product.


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Descriptive research design:

More formalized and structured.

Describing of phenomenon on characteristics associatedWith subject population (who, what, where, when, and how but not why.) - Estimates the

proportions of a population that have these characteristics Discovery of association among

different variables.Defining profiling segmenting estimating- predicting and examining the associated

relationships.

Two basic classifications:

Cross-sectional studies

Longitudinal studies

Cross-sectional studies:Cross-sectional studies measure units from a sample of the population at only one point in time.

Sample surveys are cross-sectional studies whose samples are drawn in such a way as to berepresentative of a specific population.

On-line survey research is being used to collect

data for cross-sectional surveys at a faster rate of speed.

Longitudinal studies:

Longitudinal studies repeatedly draw sample units of a population over time. One method is to

draw different units from the same sampling frame. A second method is to use a panel wherethe same people are asked to respond periodically.

On-line survey research firms recruit

panel members to respond to online queries.

Two types of panels:

Continuous panels ask panel members the same questions on each panel measurement.

Discontinuous (Omnibus) panels vary questions from one time to the next.

Longitudinal data used for:

Market tracking Brand-switching

Conclusive Research Design

Conclusive Research Design is typically more formal and structured than exploratory research. It is

based on large representative samples, and the data obtained are subjected to quantitative analysis.

Conclusive Research is designed to assist (he decision maker in determining, evaluating and selecting

the best course of action to take in a given situation. As shown in the figure conclusive research designs

may be either descriptive or causal and descriptive designs may be either cross-sectional or longitudinal

BRM Notes-2

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