RESEARCH METHODOLGY:-

INTRODUCTION
WHAT

IS RESEARCH??

Research

means search of knowledge It can also be said systematic search for pertinent information on a specific topic. Research is an original contribution to the existing stock of knowledge making for its advancement.

UTILITY OF RESEARCH:
Planning,

forecasting, coordinating, motivating, controlling. Decision making Research facilitates the process of thinking, analysis, evaluation and interpretation of business environment and various business situations. It provides basis for innovation Research and development helps to develop new products and modify existing ones. It identifies problem areas It establishes the relationship between variables in each functional area

DEFINITION:
Clifford

Woody:-

Research comprises defining and redefining problems; formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and research conclusions; and at last, carefully testing the conclusions to determine whether they fit the formulating hypothesis.

RESEARCH PROCESS: All

activities in process are closely related and overlap continuously. Although the researcher has to constantly anticipate at each step the requirement of the subsequent step and the research process is not separate or follow specific order however the following order provides useful procedural guideline regarding research process.

RESEARCH PROCESS:

F- Feedback (helps in controlling the subsystem to which it is transmitted) FF- Feed forward (serves the vital function of providing criteria for evaluation)
FF Review concepts & Theory Review previous Research finding Formulate Hypothesis

Define Research Problem

Design research (including sample Design)

FF

Interpret & Report

Analyze data (Test hypothesis if Any)

Collect data (execution)

STEPS IN RESEARCH PROCESS

Formulating the research problem Extensive literature survey Developing the hypothesis Preparing the research design Determining the sample size Collecting the data Execution of the project Analysis of the data Hypothesis testing Generalization and interpretation Preparation of the result or presentation of the result.

RESEARCH PROBLEM

What is a research problem? The term problem means a question or issue to be examined. Research Problem refers to some difficulty /need which a researcher experiences in the context of either theoretical or practical situation and wants to obtain a solution for the same.

HOW DO WE KNOW WE HAVE A RESEARCH PROBLEM?

Customer

complaints Conversation with company employees Observation of inappropriate behaviour or conditions in the firm Deviation from the business plan Success of the firms competitors Relevant reading of published material (trends, regulations) Company records and reports.

The first step in the research process definition of the problem involves two activities:
Identification Formulation

/ Selection of the Problem

of the Problem

IDENTIFICATION / SELECTION OF THE RESEARCH PROBLEM

This step involves identification of a few problems and selection of one out of them, after evaluating the alternatives against certain selection criteria.

FORMULATING THE RESEARCH PROBLEM

Two

types of literature: Conceptual concerning the concepts and theories & Empirical literature concerning studies made earlier which are similar to one proposed. The problem to be investigated must be defined unambiguously as it helps discriminating relevant data from irrelevant ones Care must be taken to verify the objectivity and validity of the background facts concerning the problem

FORMULATING THE RESEARCH PROBLEM

Two

steps are involved in formulating research problem, viz,

understanding the problem thoroughly , and rephrasing the same into meaningful terms from an analytical point of view.

Researcher

must examine all available literature to get himself acquainted with the environment

RESEARCH DESIGN
It

is the conceptual structure within which research would be conducted. design helps in collecting relevant evidence with minimal expenditure of effort, time & money and this all depends on the research purpose.

Research

RESEARCH DESIGN
Research

design involves:The means of obtaining the information The availability & skills of the researcher and his staff Explanation of the way in which selected means of obtaining information will be organized and the reasoning leading to selection Time available for research Finance available for research

RESEARCH DESIGN
Overall

research design can be split into:

Sampling design (method of selecting items to be observed for the study) Observational design (conditions under which the observations are made) Statistical design (how the information & data gathered to be analyzed) Operational design (techniques by which the procedure specified in sampling, statistical & observational designs are carried out)

PREPARING THE RESEARCH DESIGN

4

types of research purpose are: Exploratory, Descriptive, Diagnostic & Experimental or Hypothesis testing

EXPLORATORY RESEARCH
It is the preliminary study of an unfamiliar problem, about which the researcher has little or no knowledge. It is aimed to gain familiarity with the problem, to generate new ideas or to make a precise formulation of the problem. Also known as formulative research. Three methods considered for research design:

Survey

of concerned literature hypothesis stated by earlier researchers is reviewed & their usefulness is evaluated survey survey of people having practical experience with the problem is studied

Experience

Analysis

of insight stimulating examples intensive study of selected instances of the phenomenon in which one is interested. It is suitable for areas with little experience is available.

DESCRIPTIVE & DIAGNOSTIC RESEARCH

Descriptive

research is a fact finding investigation which is aimed at describing the characteristics of individual, situation or a group (or) describing the state of affairs as it exists at present. Diagnostic Research is also called clinical research which aims at identifying the causes of a problem, frequency with which it occurs and the possible solutions for it. Most of the social research comes under diagnostic researches.

EXPERIMENTAL RESEARCH
It

is designed to assess the effect of one particular variable on a phenomenon by keeping the other variables constant or controlled. It is done through testing of hypothesis of causal relationships between variables.

OTHER TYPES OF RESEARCH

Applied

Research or Action Research is carried out to find solution to a real life problem requiring an action or policy decision. Research also known as basic or pure research is undertaken for the sake of knowledge without any intention to apply it in practice. It is undertaken out of intellectual curiosity and is not necessarily problem-oriented.

Fundamental

TYPES OF RESEARCH
Quantitative

Research is employed for measuring the quantity or amount of a particular phenomena by the use of statistical analysis. Research is a non-quantitative type of analysis which is aimed at finding out the quality of a particular phenomenon. Research is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones.

Qualitative

Conceptual

Empirical

Research is a data based research which depends on experience or observation alone. It is aimed at coming up with conclusions without due regard for system and theory.

TYPES OF RESEARCH
Historical

Research is the study of past records and other information sources, with a view to find the origin and development of a phenomenon and to discover the trends in the past, in order to understand the present and to anticipate the future. Research is primarily concerned with testing hypothesis and specifying and interpreting relationships, by analyzing the facts or information already available.

Analytical

SAMPLING DESIGN
A Sample design is a definite plan for obtaining a sample from a given population. Universe / Population All items in any field of inquiry (N) Sample selected respondents out of the population (n) Such selected respondents to be representative of total population Sampling Technique the selection process of the samples out of population

STEPS IN SAMPLE DESIGN

Type of Universe define the universe to be studied. Universe can be finite or infinite. Sampling Unit It can be geographical area like state, city etc. or a social unit like family, club etc. One or many sample units can together from the samples. Sampling Frame the frame within which the sample is to be drawn. Size of Sample No. of items selected from the universe to constitute a sample. Sample size should neither be too small or too large. Budgetary Constraint Sampling Procedure Technique to be used in selecting the items of the sample.

DIFFERENT TYPES OF SAMPLE DESIGN

Probability Sampling every item of the universe has an equal chance of inclusion in the sample. It is considered the best technique of selecting a representative sample. Types Random Sampling,

Non-Probability Sampling no basis for estimating the probability that each item in the population has of being selected in the sample. Researcher chooses the sample on a purposive basis. It has a danger of being biased. Types Quota Sampling, Convenience Sampling, Judgment Sampling, Deliberate Sampling

DETERMINING SAMPLE TECHNIQUE

Types

of sample design:

Deliberate sampling:- Purposive Convenience Sampling:- bias decision if not homogeneous. Judgment sampling:- desire to develop hypothesis rather than to generalize. Random sampling:- each item have equal opportunity. Systematic sampling:- useful when sampling frame is available in form of list. Area sampling:-geographical clusters.

Stratified sampling:- population is stratified into number of non overlapping subpopulation or strata. Stratified random sampling:-items selected from each strata is based on simple random sampling Quota sampling:- interviewers are simply given quota to be filled from different strata. Cluster sampling:- grouping the population and then selecting the group or cluster Multi stage sampling:- like cluster sampling for large geographical areas

METHODS OF DATA COLLECTION

Primary Data - Collected afresh and for the first time, original in character.

Collection Observation, Direct communication with respondents like interview, questionnaire, audits, etc.

Secondary Data - Already been collected and analyzed by someone else.

Collection published data like books, magazines newspapers, stock exchanges, banks, etc and unpublished data like diaries, letters, autobiographies etc.

CASE STUDY METHOD

It is a popular form of qualitative analysis and involves a careful and complete observation of a unit. It places more emphasis on full analysis of a limited number of events or conditions and their interrelations. It is a technique by which individual factor whether (institution or just an episode in the life) is analyzed in its relationship to any other in the group.

PREPARATION OF THE REPORT OR THE THESIS: Executive

Summary

Co.

profile Research Methodology Literature review (theoretical background) Data Analysis Observation & findings Suggestions & recommendations Conclusion Bibliography Annexure

EXECUTIVE SUMMARY:Introduction Company Profile Objective & hypothesis RM Scope & Limitation Findings &Suggestions Conclusion

INTRODUCTION

It is a brief write up about the topic, the area of study and the general facts about the project.

COMPANY PROFILE
It is divided into: Basic introduction of the company Mission, Vision, Aim Company details (Managing committee, types of products manufactured, branches, geographical presence etc.) Achievements Financials of the company Organization chart

RESEARCH METHODOLOGY
Objective

Hypothesis
RM Source

data Scope of study Sample size Sample technique Tools of data collection Limitations

OBJECTIVES
Objectives

are the specific components of the research problem, that one will be working to answer or complete, in order to answer the overall research problem. - Churchill, 2001 objectives refers to the questions to be answered through the study. They indicate what we are trying to get from the study or the expected results / outcome of the study.

The

NEED OF OBJECTIVES
Discover

answer to question through scientific procedures. To find out the truth. To gain new insight into a phenomenon. Portray accurately the characteristics of a particular individual, situation or a group. To test a hypothesis of a casual relationship between variables

ESTABLISHMENT OF RESEARCH OBJECTIVES

Research

Objectives should be clear and achievable, as they directly assist in answering the research problem. The objectives may be specified in the form of either statements or questions. Generally, they are written as statements, using the word to. (For example, to discover , to determine , to establish , etc. )

HYPOTHESIS
A

hypothesis is an assumption about relations between variables. Hypothesis can be defined as a logically conjectured relationship between two or more variables expressed in the form of a testable statement. Relationships are conjectured on the basis of the network of associations established in the theoretical framework formulated for the research study. Research Hypothesis is a predictive statement that relates an independent variable to a dependant variable.

HYPOTHESIS
Hypothesis

are tentative, intelligent guesses as to the solution of the problem. Hypothesis is a specific statement of prediction. It describes in concrete terms what you expect to happen in the study. Hypothesis is an assumption about the population of the study. It delimits the area of research and keeps the researcher on the right track.

PROBLEM V/S HYPOTHESIS

Hypothesis

is an assumption, that can be tested and can be proved to be right or wrong. problem is a broad question which cannot be directly tested. A problem can be scientifically investigated after converting it into a form of hypothesis.

CHARACTERISTICS OF HYPOTHESIS
Conceptual

Clarity - It should be clear and

precise. Specificity - It should be specific and limited in scope. Consistency - It should be consistent with the objectives of research. Testability - It should be capable of being tested. Expectancy - It should state the expected relationships between variables.

CHARACTERISTICS OF HYPOTHESIS
Simplicity

- It should be stated as far as possible in simple terms. Objectivity - It should not include value judgments, relative terms or any moral preaching. Theoretical Relevance - It should be consistent with a substantial body of established or known facts or existing theory. Availability of Techniques Statistical methods should be available for testing the proposed hypothesis.

SOURCE /COLLECTION OF DATA

Data first hand information Collected through experiments or surveys. By observation:- expensive, limited not for large samples. Personal interviews. Telephone interviews:- used when time constraint is their. Questionnaires:- extensively used. Through schedules Secondary Data second hand information Books, Magazines, Journals, Printed material, etc. Websites
Primary

SCOPE OF STUDY
It

is the boundary within which the study is conducted. can be with respect to the following: Time period Geographical area Demographic details Subject specific

It

EXECUTION OF THE PROJECT

To

ensure that the survey is under statistical control so that the information collected is according to standards.

LIMITATION
These

are the factors which limit the extensive study of the subject. These could be due to the following: Biasness of the sample Confidentiality of data Lack of time available, etc.

LITERATURE REVIEW
Literature

Review is the documentation of a comprehensive review of the published and unpublished work from secondary sources of data in the areas of specific interest to the researcher. The main aim is to find out problems that are already investigated and those that need further investigation. It is an extensive survey of all available past studies relevant to the field of investigation. It gives us knowledge about what others have found out in the related field of study and how they have done so.

SOURCES OF LITERATURE
Books

and Journals Electronic Databases Bibliographic Databases Abstract Databases Full-Text Databases Govt. and Industry Reports Internet Research Dissertations / Thesis

ANALYSIS OF DATA
Classify

the raw data into usable & purposeful categories

Coding Editing Tabulation Computation

HYPOTHESIS TESTING
Results

in either accepting the hypothesis or rejecting it. established on the basis of data may be stated as hypothesis to be tested by subsequent researcher in times to come in case of no hypothesis research.

Generalization

GENERALIZATION AND INTERPRETATION

Real

value of research lies in its ability to arrive at generalization i.e. to build theory. researcher has no hypothesis to start with, he might seek to explain his findings on basis of some theory. It is known as interpretation.

If

FINDINGS & SUGGESTIONS

Based on the data analyzed, the researcher should point out all the findings (good or bad).
Common findings can be grouped together. Based on the findings, suggestions should be given so as to improve the efficiency and give corrective actions, if required.

CONCLUSION
Overall

interpretation of the study should be summarized and mentioned stating whether Hypothesis is proved or not.

BIBLIOGRAPHY
All

the references from where the secondary data is collected should be given as bibliography

The

references should be clubbed into identical headings and mentioned as per the headings

ANNEXURES
Material

taken as it is on which the data is analyzed is to be annexed here. Balance Sheet, P&L Statement, Blank Questionnaire format, etc.

Examples:-