2

Research Methodology For Management

1.1 MEANING OF RESEARCH

Research is the systematic process of collecting and analyzing information to increase our understanding of the phenomenon under study. It is the function of the researcher to contribute to the understanding of the phenomenon and to communicate that understanding to others. According to Clifford Woody Research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and researching conclusion; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis. According to D. Slesinger and M. Stephenson 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. There are many different ways to carry out research but roughly speaking there are two main approaches, namely qualitative and quantitative. Qualitative studies concentrate mainly on words and meanings and aim to capture the richness and complexity of human experience, whereas quantitative studies involve recording information obtained from participants in numerical form so as to enable statistical analysis of the findings and the generalization of those findings to the wider population. Behind these two main approaches, there are important theoretical differences and philosophical assumptions about the nature of knowledge, truth and reality, how this should be recorded, what kinds of methods should be used and the role of the researcher in this process. Research is a thorough, orderly, organized, efficient and logical investigation of an area of knowledge or of a problem. Research can be scientific or scholarly. It now includes looking things up on the Internet. The scientific method can be used for all research. Curiosity: Science is knowledge of the physical or material world gained through observation and experiment. Research begins with a broad question that needs an answer. A review of similar research narrows the scope of the research to a manageable, realistic question. Theory (Hypothesis): Research creates a theory (hypothesis) to be proved from the question; the researcher maintains an awareness of the limitations of budget, time and technology on experiments needed to answer the question. Experiment: Researchers design an experiment with steps to test and evaluate the theory (hypothesis) and generate analyzable data. Experiments have controls and a large enough sample group to provide statistically valid results. Observation: Observing and recording the results of the experiment generates raw data to prove or disprove the theory.

Research Methodology : An Introduction

Analysis: Statistical analysis on the data and organizing it so that it is understandable generates answers to the initial question. Data may show trends that allow for the broadening of the research. Conclusions: Research following the scientific method will either prove or disprove the theory (hypothesis). What happened and why needs to be explained by the researcher. Even when a theory (hypothesis) is disproved, valuable data collected in the research may lead to further research. The results are usually published and shared.

1.2 OBJECTIVES OF RESEARCH

1. To seek insight into an observed phenomenon and explain its logic and reasoning of happening. 2. To explore the possibility and methodology of doing things which have not been done so far. 3. To improve the effectiveness of present systems and procedures in any field continuously. 4. To explore into new areas that might have become relevant or even might become relevant in the near future. 5. To test a hypothesis of a casual relationship between variables. 6. To analyze the past data for discovering trends, patterns and relationships.

1.3 PURPOSES OF RESEARCH

Research in whatever field of inquiry has four purposes, i.e. describing, explaining and predicting phenomena and ultimately controlling events.

A. Describing and Explaining

This is the attempt to understand the world we live in. Research is concerned with acquiring knowledge, establishing facts and developing new methods. The way this understanding is shown is through the theories developed and their efficacy at explaining the world in which we live.

B. Prediction
In research, predictions are usually stated as hypotheses, i.e. clear unambiguous statements which can be subjected to scientific verification or refutation. When the hypotheses are accepted or rejected, we are able to make generalizations or theories concerning various situations. We are able to say that given these conditions then this is likely to happen.

C. Control
This follows from our knowledge and the successful verification of hypotheses. Control represents the way in which research can be applied to real problems and situations, thus