Research Methodology RESEARCH Meaning of research

Transcript:Research Methodology RESEARCH Meaning of research:
Research Methodology RESEARCH Meaning of research “Research is the systematic approach to obtaining and confirming new and reliable knowledge” It is a scientific & systematic investigation and contribution of new facts to the existing range/ stock of knowledge in any branch. Thus, it is a systematic quest(search) of finding effective solution to a problem. Defining research “Research is systematic inquiry to describe, explain, predict and control the observed phenomenon” -Earl Robert Search for knowledge through systematic and objective method of finding solution to a problem. Detailed and careful study of something to find out more information of it. Why we study Business research ? Business research is a systematic inquiry that provides information to guide managerial decisions. More specifically, it is a process of planning, acquiring, analyzing, and publishing relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions which in turn, maximize Business performance. Business research The systematic and objective identification, collection, analysis, distribution, and use of information for the purpose of assisting management in decision making related to the identification and solution of problems. Systematic Objective Identify Collection of Information Analyze Interpret Draw inferences Present the information Research is… Searching for explanation of events, phenomena, relationships and causes What, how and why things occur Are there any interactions? A process Planned and managed – to make the information generated credible Creative process It is circular – always leads to more questions 6 All well designed and conducted research has potential application. Failure to see applications can be due to: Users not trained or experienced in the specialized methods of economic research and reasoning. Researchers often do not provide adequate interpretations and guidance on applications of the research. 7 Research is not Accidental discovery : Accidental discovery may occur in structured research process Usually takes the form of a phenomenon not previously noticed 8 Research is not … cont. Data Collection an intermediate step to gain reliable knowledge collecting reliable data is part of the research process 9 Research is not … cont. Searching out published research results in libraries (or the internet) This is an important early step of research. The research process always includes synthesis and analysis. But, just reviewing of literature is not research. 10 Objectives of research Quest of truth. Exploration of new ideas and concepts. LOD Understand what is observed. Understand cause and effect relationship. Improve