VIVEK COLLEGE OF COMMERCE

VIVEK COLLEGE OF COMMERCE

CHAPTER: 1RESEARCH

1.1. DEFINE RESEARCH:A broad definition of research is given by Martyn Shuttleworth - "In the broadest sense of the word, the definition of research includes any gathering of data, information and facts for the advancement of knowledge."Another definition of research is given by Creswell who states that - "Research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue". It consists of three steps: Pose a question, collect data to answer the question, and present an answer to the question.V. Clover AND H. Balsley define Research is the process of systematically obtaining accurate answers to significant and pertinent questions by the use of scientific method for gathering and interpreting information.1.2 NATURE AND CHARACTERISTICS OF RESEARCH:1. Scientific Method: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 researcher needs to adopt the scientific method of inquiry or investigation. Research uses specific 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.2. 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; the researcher needs to systematically process the data, analyse and interpret it, and arrive at logical conclusions. Wherever required, the researcher needs to systematically verify the findings and conclusions.3. Applied and Basic Research: Applied research is designed to solve practical problems of the modern world, rather than to acquire knowledge for knowledges 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 authorizes to reduce the problem of unemployment.Basic or fundamental research is driven by a scientists curiosity or interest in a 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 for the applied science that follows.4. 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.

5. Generalisation:Research findings can be applied to larger population. A researcher can conduct a research on a sample selection must be done systematically so that it properly represents the whole population or the universe. The research findings based on sample population can then be generalized and applied to the whole population or the universe. Therefore, generalisation takes place when research findings based on sample responses are applied to whole population. 6. 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 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 effect. 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. 7. 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.8. Multipurpose Activity:Research is multipurpose activity. It helps to discover new facts or verify old facts. It helps not only to predict future events, but also may help to control such events. It establishes causal relationship between variables. It also helps to develop new scientific tools, concepts and theories, which would facilitate reliable and valid study of human behavior and other aspects.9. 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. D. Slesinger and M. Stephenson in The Encyclopedia of Social Sciences define research as the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art. 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.10. Quantitative and Qualitative Research:Research undertaken to measure quantity or amount is called as 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.

1.3 EXPLAIN THE NEEDS AND IMPORTANCE OF RESEARCHBusiness organizations can gain significantly with the help of research. The research and development to develop new products, improve the design and quality of existing ones, and to reduce costs. The marketing research helps to solve marketing problems relating to price, promotion, physical distribution, packaging, positioning, and so on. The need and importance of research is stated as follows:1. Product Development:Through marketing research, a business firm can identify the customer requirements, and therefore, it is possible to design new models or to modify existing products to satisfy the customers. For instance, through marketing research, a car manufacturing company may find out that the customers look for features, after-sale-sale service, re-sale value, right price, fuel efficiency, and so on. Accordingly, the product will be designed and marketed. Also, with the help of research and development, the car company would make every possible effort to develop the car with the best possible features at the right process depending upon the target customers.2. Reduction in costs:Research in business helps a firm to reduce costs. The research may indicate the reads where high costs are involved. It may be possible for the firm to cut down the cists 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 lower cost. 3. Marketing Mix Decisions:Marketing research enables a firm to arrive at sound marketing-mix decisions with respect to product, price, promotion, and physical distribution.(a)Product Decision: As mentioned earlier, marketing research enables a firm to design the right product satisfy customer requirements.(b) Pricing Decisions: Marketing research enables a firm to analyse competitors pricing, price sensitiveness, etc. and accordingly, the firm can fix the right prices.(c)Promotion-mix Decisions: Marketing research may enable a firm to adopt effective promotion-mix. If promotion-mix research is not conducted, the firm may give more emphasis on certain elements of promotion-mix, thereby, ignoring the other elements.(d) Place Decisions: Marketing research may also enable the firm to take appropriate place decisions, with reference to area of distribution, channel selection, incentives to channel intermediaries, etc. 4. Customer Relationships:Marketing research may help the firm to develop good relations with its customers, especially, the priority customers. Research can help the firm to collect valuable inputs about the priority customers. Based on the inputs, the firm can adopt various customer relationship techniques such as package of loyalty incentives, one-to-one marketing, effective after-sale-service, incentives for customer suggestions, etc.5. Dealer Relationships:Nowadays, dealer relationships are vital for the survival and success of a business organization. Marketing research enables a business firm to main good relationship with dealers. Through research, the firm can get feedback from the dealers regarding their expectations. Accordingly, the firm may take appropriate decisions relating to dealers compensation and incentives so as to maintain good relationship.

6. Modifies Social Behavior: Social research studies social behavior. Almost all our social problems could be attributed to certain social behavior of the members of the society. Social research collects relevant data on social behavior, analyses it and recommendations are listed. Based on the recommendations of social researchers, steps can be taken by the concerned authorities to modify the societal behavior. For instance, the social researchers can study the causes and effects of corruption in the society. One of the reasons for corruption could be the greed for money and power, and secondly certain members of society continue to be corrupt on account of lack of strict laws to curtail corruption. The researchers may suggest the modalities of strict punishment to corrupt persons including life imprisonment.

7. Development of Methodology:Development of methodology to deal with social issues is one of the contributions of social research. For instance, organizations face the problem of executive stress, lack of concern for ethics, poor leadership styles, employee absenteeism and turnover, etc. To overcome such problems, certain methodology needs to be developed. Social research enables the organizations to develop appropriate methodology to study, analyse, and to take suitable action to overcome the problems.With reference o the above contest, the methodology would involve the following steps: Identification of the problem Preparation of research design Designing a questionnaire Collection of data Processing of data Analysis and interpretation of data Recommendations Reporting to higher authorities for suitable action.

8. Social Development:Social research contributes to societal development. Social development can be measured in terms of literacy, life expectancy, and other social development indicators. Research can be undertaken to improve social development standards of the society. For instance, social research can be conducted to improve literacy in a particular state. The researchers may study the measures adopted by highly literate states, and accordingly make recommendations to use such measures (with modifications to suit local conditions) so as to improve the literacy rate in low literacy states. Also, research can be undertaken to enhance life expectancy in certain States or cities. For instance, the life expectancy in the Mumbai city is about 5l7 years according to one study conducted in 2009. Experts say the reason for Mumbai faring poorly on the life expectancy parameter is because around 60% of the citys population lives in slums in unhygienic conditions. Other reasons for lower life expectancy in Mumbai city include - congested trains which may adversely affect the health of the train travelers, high levels of air, water and noise pollution, and poor quality of eatables, especially those available on the city streets. Therefore, the Government and the local authorities need to take suitable measures to improve hygienic standards in slums, reduction in pollution levels, and so on.9. Social Welfare:Government organizations can undertake social research to enhance social welfare of the society. Research can help to design suitable package of measures to reduce income inequalities, to reduce poverty and unemployment, to overcome the problems of social evils such as drug addictions, abuse of alcohol, gambling, and so on. For instance, to reduce inequalities of income, Govt. adopts progressive taxation, undertakes transfer payments in form of subsidies, unemployment allowance, pension to poor senior citizens and handicapped persons, and so on.10. Formulation of New Theories:Social research helps to formulate new theories. The existing theories can be reevaluated and modified with the help of social research. For instance, social research has enabled to develop several theories on leadership, motivation, job satisfaction, group dynamics, and so on. These theories enable business and non business organizations to design suitable packages for uplifting the social behavior of their members.1.4 DIFFERENT TYPES OF RESEARCH:1. Basic Research:Basic research is also called as pure or fundamental research. It is undertaken to develop a theory or a body of knowledge. The main goal of basic research is to expand mans knowledge. In basic research, there is no commercial angle. For instance, basic research can be undertaken to study the origin of the universe. Basic research lays down the foundation for the applied science that follows.Basic research advances fundamental knowledge about the world. It focuses on refuting or supporting theories that explain observed phenomena. Pure research is the source of most new scientific ideas and ways of thinking about the world. It can be exploratory, descriptive, or explanatory, however, explanatory research is the most common.Basic research generates new ideas, principles, and theories, which may not be immediately utilized. However, the new theories or ideas form the basis of progress and development in different fields. For instance, todays computers could not exist without research in pure mathematics conducted over a century ago, for which there was no known practical application at the time. Basic research rarely helps practitioners directly with their everyday concerns: nevertheless, it stimulates new ways of thinking that have the potential to revolutionize and dramatically improve how practitioners deal with a problem in the future.In basic research, there is no commercial angle. There is no obvious commercial value to the discoveries that result from basic research. In almost all countries, pure research is mainly carried out by universities and institutes financed by the government.2. Applied Research:Applied research is scientific study designed to solve practical problems, rather than merely acquiring knowledge. Applied research is used to find solutions to everyday problems, and develop innovative technologies.Psychologists working in human factors or organizations undertake applied research. The goal of applied research is to improve the human condition. It is generally used to handle a particular situation or to solve a particular problem.For instance, a social research scholar may undertake research to find out job satisfaction of college teachers affiliated to University of Mumbai. The research findings can be applied by colleges or the University to improve the level of job satisfaction of the teachers. Also, a research can be undertaken to study the job satisfaction of nurses in Govt. hospitals vis--vis private hospitals in the city of Mumbai. The research findings can be used by Govt. hospitals and private hospitals to improve the job satisfaction levels of the nurses. The applied research can be undertaken by business organizations as well. For instance, a business organization may undertake applied research to find out the causes of poor sales of a particular brand in the market. The research findings can be used to design necessary measures to overcome the problem of poor sales.3. Correlational Research:-Correlational research refers to the systematic investigation or statistical study of relationships among two or more variables, without necessarily determining cause and effect. It seeks to establish a relation / association / correlation between two or more variables that do not readily lend themselves to experimental manipulation.For example: To test the hypothesis Listening to music lowers blood pressure levels there are two ways of conducting research. Experimental group samples and make one group listen to music and then compare the Bp levels. Survey ask people how they feel? How often they listen?and then compare.4. Descriptive Research:-Descriptive research refers to research that provides on accurate portrayal of characteristics of a particular individual, situation or group. It also known as Statistical research. These studies are a means of discovering new meaning, describing what exists, determining the frequency with which something occurs and categorizing information.The descriptive research provides facts of a particular event or situation. It gives a description of the state of affairs, as it exists of a particular event or situation. The researcher has no control over the situation or event. He can only report what has happened or what is happening. For instance, a researcher may report on the absenteeism in a particular organisation or several organizations in a particular industry or even sin different industries. The research will not indicate why the employees remained absent.In short descriptive research deals with everything that can be counted and studied, which has an impact of the lives of the people it deals with.5. Qualitative Research:Qualitative research is based on the measurement of quantity or amount. Qualitative research based on Qualitative phenomenon. It is especially important in the behavioral sentence. Where the aim is to discover the underlying models of human behavioral. Qualitative research is a difficult job while doing such a research one should seek guldens from experimental psychologists. Qualitative research is a method of inquiry employed in many disciplines, especially in the social sciences. Qualitative researcher aim to gather an in-depth understanding of human behavior and the reasons that govern such behavior. The qualitative method investigates the why and how of decision making, not just what, when. Hence, smaller but focused samples are more often used than large samples.6. Quantitative research:Quantitative research is Explaining phenomenon by collecting numerical data that are analysed using mathematically based methods. The objective of quantitative research is to develop and employ mathematical models, theories and /or hypotheses pertaining to phenomena. The process of measurement is central to quantitative research because it provides the fundamental connection between empirical observation and mathematical expression of quantitative relationships. It refers to the systematic empirical investigation of any phenomena via statistical , mathematical or computational techniques. The objective of quantitative research is to develop and employ mathematical models, theories and / or hypotheses pertaining to phenomena.Quantitative Research is generally made using scientific methods, which can include:1. The generation of models, theories and hypotheses.2. The development of instruments and methods for measurement.3. Experimental control and manipulation of variables.4. Collection of empirical data5. Modelling and analysis of data 7. Empirical Research:Empirical Research can be defined as research based on experimentation or observation. Empirical research is a way of gaining knowledge by means of direct and indirect observation or experience or experiment. Such research is conducted to test a hypothesis. The word empirical means information gained by experience, observation, or experiment. The central theme in scientific method is that all evidence must be empirical which means it is based on evidence. In scientific method the word empirical refer to the use of working hypothesis that can be tested sing observation and experiment.Empirical evidence can be analyzed quantitatively the evidence, a researcher can answer empirical questions, which should be clearly defined and answerable with the evidence collected. Research design varies by field and by the question being investigated. Many researchers combine qualitative and quantitative forms of analysis to better answer questions which cannot be studied in laboratory settings, particularly in the social sciences. Empirical research is appropriate when proof is sought that certain variables affect other variables in some way. Evidence gathered through experiments or empirical studies is today considered to be the most powerful support possible for a given hypothesis.8. Exploratory ResearchExploratory research is preliminary study of an unfamiliar problem about which the researcher has little or no knowledge. It is similar to a doctors initial investigation of a patient suffering from unfamiliar malady for getting some clues for identifying it. It is illstructured and much focused on the predetermined objectives. It is usually takes the form of a pilot study. It is the separate type of research, it is appropriate to consideror contributes a three stage process ofexploration, description and experimentation. The purpose of an exploratorystudy may be: To generate new ideas To increase the researchersfamiliarity with the problem To gather information for clarifying conceptsAn exploratory research does not aim at testing hypothesis but it just attempt s to see what is there rather than to predict the relationships that will be founded.9. Fundamental ResearchFundamental research is mainly concerned withgeneralization and formulation of a theory. It isalso known as Pure research. It aims at extension of the knowledge. It may leads to either discovery of a new theory orrefinement of an existing theory. The findings of pure or fundamental research enrich the storehouse of knowledge.10. Analytical ResearchAnalytical study is the system of procedures and techniquesof analysis applied to quantitative data. The researcher has to use facts or information already available and analyze these to make a critical evaluation of the materials or topic. It may consist of a system of mathematical models or statistical techniques applicable to numerical data.This is also known as statistical research or method. This study aims at testing hypothesis and specifying, interpreting relationships. It is used or concentrates on analyzing data in depth and examining relationship from various angles by bringing in as many relevant variables as possible in the analysis plan.

1.5 SCOPE OF RESEARCH: The Scope of research is as follows:1. National innovative capacity: National innovative capacity is the ability of a country to produce and commercialize a flow of innovative technology over the long term. It depends on: The strength of a nation's common infrastructure (basic research, education and training, intellectual property protection, R&D tax policies, venture capital, and so forth); The cluster-specific innovation environment (one or many clusters involving particular factor (input) conditions; a local context that encourages investment in innovation-related activity; vigorous competition among locally based rivals; sophisticated local customers; presence of capable local suppliers and related companies). The quality of linkages (relationship between the common innovation infrastructure and industrial clusters).This research strand aims at building innovation indexes and measuring various dimensions of national innovation capacities. For instance: Strategic capacity: it deals with the ability to mobilize and concentrate resources under some centralized decision making processes to achieve a critical scientific or technological objective. Revolutionary capacities: it deals with the ability to shift resources out of areas of lower and into areas of higher productivity and greater yield. This is a capacity to manage transitions. The difficulty is that such a capacity involves various dimensions which can be conflicting (see Mowery and Simoe, 2001).

2. Designing efficient incentive systems for invention and innovation: One central problem in the economics of knowledge is the design of incentive systems that both reward inventors/knowledge producers and encourage dissemination of their output. Several scholars have described the two regimes that allocate resources for the creation of new knowledge: one is the system of granting intellectual property rights, as exemplified by modern patent and copyright systems, the other is the open science regime, as often found in the realm of pure scientific research and sometimes in the realm of commercial technological innovation, often in infant industries.3. Research in EPFL labs:CEMI will be at the forefront of the College to develop and undertake research in the field of "economics of science" with EPFL as the main case. In this perspective, several topics are obvious: Assessing the impact of organizational practice on the productivity of university technology transfer offices Measuring the social value of basic research and the local spillovers (regional impact). Accounting for the effects associated with mobility Scale, scope and spillovers: the determinants of research productivity in several fields Exploring the role of patents in knowledge transfer from EPFL Exploring the effect of the patenting of research tools and biomedical innovation: transfer opportunities and social costs Access policy for large scale research instrument, data bases.All these topics should give rise to research design (research question, data collection, analysis) in close collaboration with the other EPFL Schools (life science, basic science, computer science, engineering science) in order to benefit from the great opportunity to be located in an Institute of Technology. These projects will be designed in close collaboration with Jan-Anders Manson, vice-president for Innovation and Knowledge Transfer.4. New R&D methods and the production of reliable knowledge:Unequal access to pertinent knowledge bases may well constitute an important condition underlying perceptible differences in the success with which different areas of Endeavour are pursued within the same society and the pace at which productivity advances in different sectors of the economy during a given historical epoch. Today, it remains astonishing to observe the contrast between fields of economic activity where improvements in practice are closely reflecting rapid advances in human knowledge - such as is the case for information technologies, transportation, and certain areas of medical care (surgery and drug therapy) - and other areas where the state of knowledge appears to be far more constraining. The fact is that knowledge is not being developed to the same degree in every sector. A major policy concern is to understand the factors at the origin of such uneven development, and to implement a proper strategy in order to fill the gap between sectors with fast knowledge accumulation processes and those in which these processes remain weak.To summaries, rapid and effective creation of know-how is most likely to occur when the following conditions converge (Nelson, Seminar at CREA, Paris, 2004): Practice in the field needs to be well specified, sustainable, replicable, imitable; There needs to be ability to learn from experience and experiment; The ability to experiment offline, with less expense than that would be involved in online experimentation, and to gain reliable information relevant to online use, greatly facilitates progress. A strong body of "scientific" knowledge greatly facilitates effective offline experimentation, and also quick and reliable evaluation of varying practice online.Part of the problem in sectors which are lagging behind deals with the limited ability to conduct experiments. The main research issue here is to analyse the impact of new experimental methods and design (essentially based on random assignment), which have the potential to profoundly transform the way reliable knowledge is produced in these sectors. For instance, one of the most significant developments in modern medicine has been the randomized controlled trial (RCT), the significance and use of which grew rapidly after its application to tuberculosis in the 1940s. Today the RCT is widely treated as the evidential 'gold standard' for demonstrating 'what works' and what is medical 'best practice'. Education might be the next sector to be profoundly transformed through the application of RCTs. The growth of RCTs as an approach in educational research has been pushed forward by three important factors: computers, statistical techniques (effect sizes and meta-analyses) and demand for accountability in both practice and research. There is, therefore, a favorable context. The question is whether this new feature can change and transform the way knowledge is produced and distributed in a sector like education.5. New models of innovation:This project involves the contribution of users in the innovation process not only in terms of sending market signals (which is normally what users are supposed to do to help producer-innovators), but also in terms of actively contributing to the modification of the product. This project emphasizes, therefore, the functional source of innovation: while an innovation is considered a manufacturer's innovation when the developer expects to benefit by selling it, an innovation is a user innovation when the user expects to benefit by using it.This research aims at understanding the capabilities and limitations of user innovation processes, which involve quite often an open and distributed system (in which innovations may be freely revealed to other users). Its advocates claim that user innovation, involving freely revealing, is an efficient means of producing socially desirable innovation and maximizing "spillovers," or knowledge transfer / leakage. The generation of innovation by users may be a complement or it may compete with innovations produced by manufacturers. In its role as a complement, user innovation may extend the diversity of products without endangering market positions of manufacturers and may help manufacturing firms to mitigate information asymmetry problems vis--vis future market needs. As a competitor, user innovation may offer products that better meet user needs.The model involves two major deviations from the private investment model of innovation, which assumes that manufacturers innovate in products and processes to improve their competitive position and that returns to innovation result from excluding other manufacturers from adopting it. First, users of technologies, rather than manufacturers, are often the innovators. Second, user-innovators often freely reveal the proprietary knowledge they have developed at their private expense.A host of empirical studies, mainly conducted by Eric von Hippel, his research group at MIT and his colleagues, show that user innovation is an important economic phenomenon. It constitutes the main source of knowledge in some sectors or an important contributor in others.Deepening our understanding of the conditions leading to user innovation and of its economic impact is, therefore, a relevant issue: (i) for a better assessment both of intangibles and intellectual capital at the firm level and of innovation capacities at the national level; and (ii) for a better understanding of some new organizational forms, such as user communities, which appear to be becoming more relevant in a knowledge society.

1.6 PROBLEMS FACED BY RESEARCHES:There are certain limitations or difficulties in the use of scientific method in social sciences. The main limitations are as follows.1. Problem of Accuracy:Social sciences deal with human beings- their behavior, and social life. The human behavior cannot be predicted with accuracy. This is because: human behavior is subject to change depending upon the situation, the nature of the person, and other factors. Therefore, scientific method in social sciences cannot predict with accuracy the behavior of human beings.2. Problem of Uniformity:Human behavior is not uniform. Different persons behave differently under certain situations. In other words, all people do not behave in the same manner in similar situations. Also, one may behave differently in similar situations at different times. Therefore, scientific method in social sciences has the problem of generating uniformity in the behavior of different human beings under similar situations.3. Problem of Bias:The scientific method in social sciences is affected by the problem of bias on the part of the researcher. Some researchers may be biased in using the scientific method. They may draw conclusions subjectively depending upon their likes, dislikes, feelings and emotions. In other words, there is problem of objectivity in using the scientific method is social sciences as compared to physical sciences.4. Problem of Sampling:In social sciences, the researcher uses a particular sample of respondents to understand the behavior of human beings in a given situation. However, there are problems in sampling. In other words, the selected sample of respondents may not represent the universe, and as such, even if the study conducted with the use of scientific method, may not bring objective results.5. Problem of Respondents:In social sciences, scientific method may not provide objective responses from the respondents. Some respondents may deliberately give wrong responses so as to please the researcher or to get away with the interviews as quickly as possible. Even in the case of observation, the respondents may be conscious of being observed, and therefore, they may behave differently than otherwise.

6. Problem of Verification:The physical phenomena may be knows directly through senses, but the social phenomena are known only symbolically through words representing such social phenomena, i.e., culture, customs, tradition, values, and other subjective aspects of social life. Therefore, it is difficult to verify the conclusions drawn from social science research.7. Problem of Laboratory Experiments:In most physical sciences, it is possible to undertake controlled laboratory experiments. 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. As social sciences develop, a number of human problems may be hopefully be brought within the reach of laboratory experiments.8. Problem of Segregating Cause- Effect Relationship:In social sciences it is difficult to segregate the cause-effect relationship. In other words, it does not make sense to know which the cause is, and which is the effect. For instance, the question of :Is poverty the cause of low skills?9. Issues relating to Practical Significance;At times, the research may be undertaken for name sake or just for the purpose of recognition. For instance, academic research may be undertaken to get M.Phil or PhD degrees. A number of research programmes undertaken by academicians in India and hardly serves any practical significance.10. Ethical Issues relating to Research Process:There are various ethical issues in research. Some of the ethical issues in research are connected with the research process. The ethical issues relating to the research process are concerned with research design, sample size, data collection, data processing, data analysis and interpretation, and so on. However, the ethical issues relating to research process can be avoided by systematic planning for research and by following ethical norms in conducting the research.

CHAPTER: 2RESEARCH METHODOLGY

2.1 RESEARCH METHODOLOGY:Research methodology is a way of thinking about and studying social reality; about how we know the world, or gain knowledge of it (Bassey, 1999). The justification for this methodology draws from the epistemological and theoretical perspectives previously discussed. The purpose of this study is centered on exploring stakeholders perspectives and behaviors which involve face-to-face interaction with participants. This study will uncover the influence of cultural and contextual activities that shape the behaviors and beliefs of the stakeholders.The process used to collect information and data for the purpose of making business decisions. The methodology may include publication research, interviews, surveys and other research techniques, and could include both present and historical information.More over through methodology the external environment constitutes the research by giving a depth idea on setting the right research objective, followed by literature point of view, based on that chosen analysis through interviews or questionnaires findings will be obtained and finally concluded message by this research.On the other hand from the methodology the internal environment constitutes by understanding and identifying the right type of research, strategy, philosophy, time horizon, approaches, followed by right procedures and techniques based on his or her research work. In other hand the research methodology acts as the nerve center because the entire research is bounded by it and to perform a good research work, the internal and external environment has to follow the right methodology process.Therefore, case study is appropriate as justified below. Qualitative research involves an interactive process whereby researchers take a particular worldview or perspective to inform the research. Qualitative researchers have a particular way of looking at the world, they interpret what they see, and decide whether the events that they see are real, valid, and important to document. This understanding helps to build theories (Stake, 2000). Its essence is twofold: a commitment to some version of the naturalistic, interpretive approach to its subject matter, and ongoing critique of the politics and methods of post positivism (Denzin & Lincoln, 2000). Qualitative researchers stress the socially constructed nature of reality, the intimate relationship between the researcher and what is studied, and the situational constraints that shape inquiry. Qualitative researchers emphasize the value-laden nature of inquiry. They seek answers to questions that stress how social experience is created and given meaning (Denzin & Lincoln, 1994). The basis of qualitative research is where reality is seated in the perceptions of subjects.

2.2 REQUISITES OF GOOD SCIENTIFIC METHODWhatever may be the types of research works and studies, one thing that is important is that they all meet on the common ground of scientific method employed by them. One expects scientific research to satisfy the following criteria:(1) The purpose of the research should be clearly defined and common concepts be used.(2) The research procedure used should be described in sufficient detail to permit another researcher to repeat the research for further advancement, keeping the continuity of what has already been attained.(3) The procedural design of the research should be carefully planned to yield results that are as objective as possible.(4) The researcher should report with complete frankness, flaws in procedural design and estimate their effects upon the findings.(5) The analysis of data should be sufficiently adequate to reveal its significance and the methods of analysis used should be appropriate. The validity and reliability of the data should be checked carefully.(6) Conclusions should be confined to those justified by the data of the research and limited to those for which the data provide an adequate basis.(7) Greater confidence in research is warranted if the researcher is experienced, has a good reputation in research and is a person of integrity.In other words, we can state the qualities of a good research as under:1. Good research is systematic: It means that research is structured with specified steps to be taken in a specified sequence in accordance with the well defined set of rules. Systematic characteristic of the research does not rule out creative thinking but it certainly does reject the use of guessing and intuition in arriving at conclusions. 2. Good research is logical: This implies that research is guided by the rules of logical reasoning and the logical process of induction and deduction are of great value in carrying out research. Induction is the process of reasoning from a part to the whole whereas deduction is the process of reasoning from some premises to a conclusion which follows from very premise. In fact, logical reasoning makes research more meaningful in the context of decision making. 2.3 STAGES OR PROCESS IN SCIENTIFIC RESEARCHScientific research is a systematic process undertaken to study the research problem and to arrive at conclusions.Each research problem is unique and requires a special emphasis and approach. One way to face the uniqueness of every problem is to tailor the research work according to needs of each problem. The scientific research process consists of a sequence of steps that have to be followed while undertaking a research project:

1. Identifying and Selection of Research Problem:Identification or formulation of research problem is the first and most important step of research process. The problem formulation is like an identification of a destination before undertaking a journey. It is often said that a well defined problem is half solved. Before formulating the research problem, the research must always think what the problem is, why it is a problem, and for whom the problem is.Precise definition of the problem would help the researcher to collect the relevant data for solving the research problem. The researcher would be in a better position to arrive at suitable conclusions based on the analysis of data collection, and accordingly solutions can be designed to solve the problem or to deal with a particular situation.The researcher need to list the broad area or topic of the problem: divide the broad area into sub-areas. i.e. narrow down the broad area into sub areas, and then formulate the problem.2. Review of Literature:The researcher should undertake extensive literature survey relating to the problem. He may consider various publications, such as journals, books, research reports, and other published matter. Particularly, the researcher should go through the similar research studies that were conducted previously. Such review of literature would provide a good insight into the problem.3. Formulation of Hypothesis:The researcher should formulate the hypotheses. The hypotheses is a tentative assumption made to test its logical or empirical consequences. The hypothesis should be formulated on the basis of insight and knowledge about the problem. The hypothesis may prove to e either wrong or right.If the test of the first hypothesis leads to its acceptance, one conclusion is that products price is too high. If it is rejected, the researcher concludes that the price is not too high and proceeds to test the other hypothesis. Thus, the hypothesis guides the research effort and suggests what data are required.4. Research Design:The researcher must prepare a research design. It is a logical and systematic plan prepared for conducting a research study. It can be called as a blue print for collection, measurement and analysis of data. The research design provides guidelines to researcher regarding the time period within which research is to be conducted, the type of data to be collected, the area and the respondents from which the data is to be collected, the techniques of data collection and data analysis, and so on.5. Designing the Questionnaire: If the researcher cannot solve the problem with the help of secondary data, observation and experimentation, then he should make efforts to collect the primary data from the field for which he requires a questioning . While designing a questionnaire, the following points must be kept in mind:6. Sampling Design:Generally, it is not possible to collect data from each member of the universe or population under study due to limitations of time, effort, and money. Therefore, the researcher needs to select a sample of respondents that represent the universe.Sampling design is a plan to select the appropriate sample to collect the right data so as to achieve the research objectives. A sample represents those individuals chosen from the population of interest as subjects in an experiment or to be respondents to a survey.7. Collection of Data:Problem solving is essentially a process of collecting information. The data can be collected from various sources primary and secondary.

8. Processing of Data:The collected data is mostly available in a raw form and therefore, it needs to be processed. Processing of data involves:(A)Editing- it helps to weed out unwanted and irrelevant data. It also helps to check errors and omissions in data collection.(B)Coding it involves assigning codes to the categories or responses. It is required especially when the sample size is large and when there is large number of responses.(C)Classification- It refers to grouping of data under different categories or classes such as age, gender, education, area, etc. It facilitates tabulation of data.(D)Tabulation It involves transferring of classified data in a tabular form. Tabulation of data facilitates analysis and interpretation of data.9. Data Analysis:Organisation of data is generally followed by its analysis and interpretation. The purpose of analyzing data is to establish a relation between the information and problem. Analysis reviews the data in the light of hypothesis or research problem. Analysis reviews the data in the light of hypothesis or research problem. It is difficult to demarcate a line between analysis and interpretation. They quite often overlap and so it is difficult to find out the end of analysis and the beginning of interpretation.10. Hypothesis Testing: After analysis and interpretation of Data, the researcher must be in a position to test the hypothesis. The researcher should find out whether or not the research findings support the hypothesis or prove to be contrary.

CHAPTER 3COMPANY REPORT

3.1 INTRODUCTION OF HYUNDAI COMPANYHyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the largest passenger car exporter and the second largest car manufacturer in India. It currently hasten car models across segments - Eon, Santro, i10, Grandi10,i20,Xcent, Verna, Elantra, Sonata and Santa Fe.HMILs fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality and testing capabilities. HMIL forms a critical part of HMCs global export hub. It currently exports to around 120 countries across EU, Africa, Middle East, Latin America, Australia and the Asia Pacific. HMIL has been Indias number one exporter for the past eight years consecutively. To support its growth and expansion plans, HMIL currently has 397 dealers and more than 1,045service points across India. In its commitment to provide customers with cutting-edge global technology, HMIL set up a modern multi-million dollar R&D facility in Hyderabad. The R&D center endeavors to be a center of excellence in automobile engineering.3.2 IDEAS IN 2013 AND 2014 20131. World Rally Championship (WRC) Team launched2. Launch of Grandeur Hybrid3. No. 2 in Autobilds (Germany) 2013 Quality Satisfaction Report4. i10 awarded Indian Car of the Year 2014

5. Beijing Hyundai sales in China surpass 6.1 million units / year7. Launch of All-new Genesis8. Two Hyundai models ranked highest in the 9. Residual Value Awards in the U.S.10. Ranked Most Valuable Car Brand in the U.S.11. Named No. 1 brand and No. 1 car in 4 vehicle categories (Equus, Genesis Coupe, etc.) in Strategic Visions Total Value Awards.20141. All-new Genesis wins a 2014 iF Design Award.2. Official sponsor of the 2014 FIFA World Cup Brazil3. Unveiling of HED-9 Intrado at the Geneva International Motor Show4. Participation of i20 in the WRC, achieving 3rd place in the Mexico Rally5. All-new Genesis and i10 win a Red Dot Design Award

3.2 VISION AND MISSION:Hyundai Motor Companys goal for the next decade that will be followed through with concrete business strategies and action plans.Hyundai Motor Companys most fundamental reason for being, and the foundation for its continued existence. Guiding principles for employee behavior and decision making that are essential to realizing our management philosophy and vision.

3.3 BRAND SLOGAN OF HYUNDAI COMPANYNEW THINKING and NEW POSSIBILITIESNEW THINKING and NEW POSSIBILITIES can also be felt in its design philosophy and technologies. Cars as living works of art that convey the flowing dynamism of nature that is Hyundais Fluidic Sculpture design aesthetic. Not only that, Hyundai sponsors many sports games, and constantly explores new ways to communicate with customers using new media. Its ongoing environmental management and contributions to society are now more than just a slogan, and are becoming a way of life that is uniquely Hyundai.3.4 CORPORATE SOCIAL RESPONSIBILITY The concept of corporate social responsibility is emerging as one of the keywords defining todays business environment, as the emphasis on the social roles and functions of companies is increasing. Hyundai Motor Company engages in a variety of systematic and strategic Social Contribution programs every year on the basis of its Long-term Social Contribution Road Map that extends to 2012. From 2011 through 2012 when its Social Contribution activities enter the mature stage, we will seek to develop unique Social Contribution models and campaigns that will reflect its core values and help it become a respected company.3.5 RESEARCH AND DEVELOPMENT OF HYUNDAI COMPANYHyundai Motor India Engineering (HMIE) is a fully owned subsidiary of Hyundai Motor Company, South Korea, which has set up the R&D Centre in Hyderabad. HMIE is a centre with one of the most advanced research and development facilities which focuses on state of the art product and design engineering and rigorous quality enhancement. The new R&D Centre at Hyderabad in India is Hyundai Motor Companys fourth overseas R&D centre.Set up with an investment of Rs. 184 crores, the new 200,000 square-foot facility R&D Centre, is aimed at further accelerating local content development and enable Hyundai to respond even more quickly to changing customer needs across the world. The R&D Centre will further facilitate the development of India as Hyundais global hub for manufacturing and engineering of small cars.The new R&D Centre in Hyderabad will support all back-end operations like computer aided engineering (CAE), computer aided design (CAD) and help the R & D work taking place across Hyundais car line-up.The R&D Centre will help in developing vehicles which includes their styling, design engineering and vehicle test & evaluation. The R&D Centre will play a pivotal role for cars manufactured in India in order to satisfy the specific needs of the Indian customers.Hyundai Motor Companys other overseas R&D centers are located in the United States, Germany,Japan & Korea.

BIBLIOGRAPHY

Websites:

www.google.com

www.hyundai.com

Books:

Research Methodology in CommerceMichael Vaz

R&D OF HYUNDAI COMPANYPAGE 6