BAEB601: REESEARCH METHODOLOGY
CHAPTER 1:
Introduction To Research Methodology (Part 2)
© 2010 Cosmopoint
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This chapter aims to:
1.Define the importance of research as a management decision-making tool;2.Define research3.Differentiate between basic and applied research;4.Define meaning of theory5.Discuss the term concept, proposition, variables and hypothesis;6.Classify research as exploratory research, descriptive research and causal research.7.List the stages in the business research process
Chapter Aims
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Problem Statement
Identify the scenarios
Issues that lead to the formulation of the problem statement
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Process of Problem Definition
Ascertain the decision maker’s
objectives
Understand the background of
the problem
Isolate and identify the
problem, not the symptoms.
Determine the unit of analysis
Determine the relevant variables
State the research
questions and research
objectives
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Ascertain the decision maker’s objectives
MUST attempt to satisfy the decision maker’s objectives
MUST have a clear understanding of
the purpose of undertaking the
research.
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Understand the background of the problem
The background
of the problem is
vitalA situation analysis is the logical first step in
defining problemAnalysis
involve the informal
gathering of background information
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Isolate and identify the problem, not the symptoms
Anticipating the many influences and
dimensions of a problem is impossible
for any researcher.
Certain occurrences that appear to be the problem may only be
symptoms of a deeper problem.
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Determine the unit of analysis
MUST specify the unit of analysis
Will the individual consumer be the source
of information?
Industries, organization,
departments or individual may be the focus data collection
and analysis.
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Determine the relevant variables
A variable is a quality that can exhibit
differences in value, usually magnitude or
strength
In statistical analysis, a variable is identified by a
symbol such as X, Y.
A category or classificatory variable
has a limited number of distinct variables
Example: Gender – Male or Female, Age – 20’s, 30’sIncome – Low, Middle, High
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State the research questions and research objectives
• The research question is the researcher’s translation of the business problem into a specific need for inquiry.
• Clarity in Research Questions and Hypotheses
• Decision-Oriented research objective.
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Problem Statement : Activity
• Evaluate the statement of the business problem in following situations:
1.A farm implement manufacturer: Our objective is to learn the most effective form of capitalization so we can maximize profits.
2.The producer of a television show: We have a problem; the program’s rating are low. We need to learn how to improve our rating.
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Clarity in Research Questions and Hypotheses
Research question should be specific, clear, and accompanied by a well formulated hypothesis.
Hypothesis is an unproven proposition or possible solution to a problem. In its simplest form, a hypothesis is a guess!
Problem and Hypothesis are similar. Both state relationship. BUT Problems are interrogative, Hypotheses are declarative
and more specific to testing.
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Research Objective
Research objective is the researcher’s version of the business problem.
Research objective is derived from the problem definition.
Research objective explain the purpose of research in measureable terms as well as
defining what standard the research should accomplish.
Research objective should be limited to a manageable number so that each one can be
addressed fully.
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Types of Business Research
Completely Uncertainty Absolute Certain Ambiguity
Causal or Descriptive Exploratory
Decisions are not all same: A continuum of decision making
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Types of Business Research
Exploratory research
Descriptive research
Causal research
Conducted to classify the nature problems. It is not intended to provide conclusive evidence from which a particular course of action can be determined.
Conducted to discover and determine the characteristics of a population. It Seeks o determine to answer “Who”, “What”, “When”,”Where” and “How”.Conducted accurately because the Evidence it provides will be used to determine a course of action.
To identify cause-and effect relationship between variables. Causal researchAttempts to establish that when we doOne thing (increase advertising), anotherWill follow (increased sales)
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Research Proposal
The research proposal is a
written statement of the research
design..
explains
Purpose of the study
Define s the problem
Outlines the research methodology
Details the procedures to be followed
State all costs and deadlines
Proposal should be precise, specific and
concrete
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Activity
For each of the situations below, decide whether the research should be exploratory , descriptive or causal?
1) Establishing the functional relationship between advertising and sales.
2) Investigating reactions to the idea of a new method of defense budgeting
3) Identifying target market demographics for a shopping centre
4) Estimating prices for IBM stock two years in the future.5) Learning how many organizations are actively involved in
just in time production.6) Learning the extent of job satisfaction in a company.
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Flowchart of the Research Process
• Flowchart of the Research Process– Refer to the diagram given
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