Sunday, 12 February 2017

BUSINESS RESEARCH METHOD UNIT II

BUSINESS RESEARCH 
UNIT II
     PLANNING OF RESEARCH AND RESEARCH PROCESS

Planning of research means deciding the question to be studied, setting the objectives of the study and determining the means of achieving those objectives. Planning research refers to determining, in advance, various steps to be followed in a research.

1. Identifying, Evaluating and Formulating the Research Problems-:
After creating interest in a research work, a researcher has to think about formulating the problem related to his research work. Choosing a correct problem for study is the most important step in the entire research process. After selecting the problem, the researcher has to formulate the problem.

2. Extensive Literature Survey:-
Before formulating the research it is desirable that researcher examines all available literature, both conceptual and empirical. The conceptual literature is one which deals with concepts and theories. Empirical literature is that which contains studies made earlier and so it consists of many facts and figures observed in the earlier studies.

3. Writing a Primary Synopsis:-
After formulating the problems a brief summary of it should be written down. A research worker has to write a synopsis of the topic selected for research work mentioning the summary of what is going to be done under his research.

4. Identifying and Labeling Variables: -
In any research the problem under study deals with relation between variables. The variables whose change has affected the other variable, is called independent variable.
Therefore there is a cause and effect relation between the variables. The research problem must be formulated in such a manner that it highlights the nature, extent and implications of relation existing between the variables. It is only through this process of establishing the effective relation between variables that meaningful conclusions are derived from the study.

5. Setting Up Of Hypothesis: -
Specification of working hypothesis is a basic step in the research process. A hypothesis is a tentative conclusion logically drawn. The research work is conducted to test the truth of this hypothesis.

6. Preparing the Research Design:-
A research design is a plan that specifies the sources and types of information relevant to the research problem. It is a strategy which approach will be used for gathering and analyzing the data. It includes the time and cost budgets since most studies are done under these two constraints. A research design provides a rational approach to research enabling one to decide in advance what to do, how to do, in investigating the subjects.

7. Determining the Sample Design:-
A sample design is a definite plan determined before any data are actually collected for obtaining a sample from a given universe.Sample design refers to the technique or the procedure which the researcher would adopt in selecting some sampling units from the universe for drawing inferences about the universe. If the proper procedure is followed to select the sample, definitely the sample will give all dependable information.

8. Collecting of Data: -
There are several ways of collecting the appropriate data. Some of the methods of collecting primary data are (1) Observation method. (2) Direct personal interview method. (3) Telephone interview method. (4) Questionnaire method. (5) Schedule method. A choice of one of these methods.

9. Execution of the Project: -
The researcher has to see that the project is executed in a systematic manner and in time. He should make necessary preparations for successful conduct of the project.

10. Processing, Analysis and Interpretation of Data by Statistical Methods: - The processing of data consists of classification, tabulation and coding. By classification and tabulation the unwieldy data can be condense into few manageable and purposeful groups and tables so that further analysis becomes simple. Coding converts the data into symbols and small figures so that the data can be dealt with in an easy manner. Editing improves the quality of the data since it is at this stage that data which is irrelevant can be dropped.
Analysis and interpretation of data results in observation, analysis, conclusion, induction and deduction. For this various statistical measures are computed.
11. Testing of Hypothesis: - Depending upon the nature of data and conclusions to be arrived one or two of these tests can be applied. Testing of hypothesis will results in either accepting or rejecting the hypothesis. Testing of hypothesis may prove or disprove a theory and a theory facilitates formulating of a further hypothesis. Testing of hypothesis will result in contribution to existing theory or the generation of a new theory.
12. Preparation of the Report or Thesis:-
A report is a detailed description of what has been done and how it has been done with respect to a particular area or topic. The report should contain the preliminary section, the main body and the end matter. The preliminary section contains only titles, data, acknowledgement foreword and table of contents. The important section of a report is its main body. It carries introduction, methodology, and statements of findings, conclusions and recommendations. The end matter includes appendix, literature selected and bibliography.
The appendix includes letters, questions or other tools used. Bibliography is the list of books, journals. Reports, bulletins etc. used for reference.
Selection and Formulation of Research Problems
Research Problem
Problem means a question or an issue to be examined. A research problem refers to some kind of problem which a researcher experiences or observes in the context of either a theoretical or practical situation. The researcher has to find out suitable course of action by which the objective can be attained optimally in the context of given environment. Thus, selection of research problem has high value to the society and the researcher must be able to identify those problems that need an urgent solution.
Requisites or Characteristics of a Good Research Problem
 clear and unambiguous
 logical and systematic
 empirical
 relation between variables
 verifiable
 interesting
Various Aspects of a Research Problem
For an effective formulation of the problem following aspects of the problem are to be considered by the researcher.
• Definition of the problem: - Before one takes up a problem for the study one needs to define it properly. The issues for inquiry are to be identified clearly and specified in details. If any existing theoretical framework is tested, the particular theorem or theories must be identified.
Similarly if there are any assumptions made and terms used the meaning of them must be made clear. As far as possible the statement of the problem should not give any scope for ambiguity.
• Scope of the problem: - The research scholar has to fix up the four walls of the study. The researcher must identify which of the aspects he is trying to prove. Taking the example of sickness he should specify. (1) Whether his study extends to all types of small scale industries, or limited to only few of them. (2) Whether the study is limited to find cause for sickness or also to prescribe certain prescriptions etc.
• Justification of the problem: - Many a time research studies are put to the test of justification or relevance. In the scientific curiosity of the problems, th problem that needs urgent solution must be given preference.
• Feasibility of the problem: - Although a problem needs urgent attention and is justifiable in several respects, one has to consider the feasibility of the same. Feasibility means the possibility of conducting the study successfully. The elements of time, data, Cost is to be taken into consideration before a topic is selected for study.
• Originality of the problem: - In social sciences, particularly in commerce and management, there is no systematic compilation of the works already done or on hand. Two people may be doing a work more or less on similar topic. In such situations it is not advisable to continue work in the same manner. What is advisable is that, each of them should try to focus on different aspects, so that they could enrich the field of knowledge with their studies. Another problem faced by a researcher is that a problem which he intends to do is already worked out.
Should he repeat the same or not? This depends upon the situation or circumstances which engage his attention.
Defining and Formulating a Research Problem
A research is to be defined along with the bounds in which it is to be studied. Therefore defining a problem involves the task of laying down boundaries within which a researcher shall study the problem with a predetermined objective in view. Defining a research problem and clearly is a crucial part of a research study and must in no case be accomplished hurriedly.
Steps for Defining and Formulating a Research Problem
(1) Stating the problem in a general way: - The researcher should state the problem in general terms, keeping in view either some practical concern or some scientific or intellectual interest.
Often the guides put forth the problem in general terms and researcher narrows down the problem and phrase the problem in operational terms. The problem stated generally may contain various ambiguities which must be resolved by proper thinking and rethinking over the problem. There are two ways of stating a problem by way of posing questions and by way of making statements.
(2) Understanding the nature of the problem: - For understanding the nature of the problem in a better way, the researcher has to hold discussions with those who have Knowledge of the problem.
(3) Surveying the available literature: - This is necessary because only through such a survey, a researcher can understand the relevant theories, reports etc.studies on related problems are useful for knowing the type of difficulties that may encounter in the present study.
 (4) Developing the ideas through discussions: - A researcher must discuss his problem with his colleagues and those who have enough experience in the same area or in working on similar problems. People with experience can enlighten the researcher on various aspects of his study.
(5) Rephrasing the research problem: - A researcher must rephrase the research problems into a working proposition. The researcher puts the research problem in as specific terms as possible so that it may become operationally viable and may help in the development of working hypothesis.
Terms defined
Relevant Variables
A variable is a measurable concept such as height, age, income etc. it takes quantitative values. It may vary from individuals to individuals or groups to groups. When there are two variables in a study such that the values of one variable change in response to the change in the values of the other variable, then the former is said to be depending variable and latter is said to be independent variable. A variable may be discrete or continuous. When a variable assumes only certain specified values in an interval, it is called discrete variable. But a continuous variable is one which can assume any number of values in an interval.
Extraneous variables: Besides the independent variable, a dependent variable can be influenced by other variables, which are not part of the study. They are called extraneous variable. They are variables working from outside.
Unit of analysis: A variable can be measured and analyzed by statistical units. The statistical units used for analysis and interpretation are known as units of analysis. Rations percentages, coefficients etc are such units. They can be used for the purpose of comparison.
Hypothesis
Hypothesis is a tentative statement showing the relationship between two or more variables, the reliability and validity of which is to be tested and verified. It expresses the nature and degree of relationship between variables. Hypotheses are -
• Assumptions
• Tentative statements
• Propositions
• Answering the questions
• Proposed solution to a problem
• Statements which are to be tested
• To be accepted of rejected
• To be verified empirically on the basis of sample
Why Hypothesis
• Gives the direction of research
• Specifies the sources of data
• Determines the data needs
• Type of research
• Appropriate techniques of research
• Contributes to the development of theory
Role of Hypothesis
• It guides the direction of the study
• It identifies facts that are relevant and those that are not
• It suggests which form of research design is likely to be most appropriate
• It provides a frame work for organising the conclusions that result
Sources of Hypothesis
• Observation –based on the behavior pattern
• Relation between price and demand is hypothesized,
• the sales and ad may be hypothesized
• Analogies casual observations in nature
• Poor people buy more lottery
• Intuitions and personal experiences –
• The story of Newton and falling of apple,
• The wisdom of Budha under the banyan tree
• A sparking in our mind at particular occasions
• Findings of studies
• State of Knowledge – the theorems may be modified
• Culture –castes, beliefs, habits, behavior
• Contribution of research – the rejection of certain hypothesis may lead to further research
• Theory –large concerns earn more profit, return on capital is an index of business success
Different Types of Hypothesis
Descriptive Hypothesis – Describing the characteristics of a variable (may be an object, person, organisation, event, and situation)
• Eg. Employment opportunity of commerce graduates is more than the arts students.
Relational Hypothesis – Establishes relationship between two variables. It may be positive, negative or nil relationship.
• Eg. High income leads to high savings
Causal Hypothesis – The change in one variable leads to change in another variable i.e. Dependent and independent variables, one variable is a cause and the other one is the effect
Statistical Hypothesis – association or difference between two variables are hypothesized
Null Hypothesis – it points out there is no difference between two populations in respect of same property.
Alternative Hypothesis- when we reject the null hypothesis, we accept another hypothesis known as alternate hypothesis.
Working Hypothesis
Complex Hypothesis
How to test
• State the two hypotheses - null and alternative
• Decide the test statistic t, Z, F, Chi-square
• Fix the level of significance
• Make the computations
• Take the decision
• Type 1 error and Type 11 error
• Degree of freedom (based on probability, distribution)
 

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