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"The secret of success is to know something nobody else knows. " Aristotle
There are five types of companies: those who make things happen; those who think they make things happen; those who watch things happen; those who wonder what happened; and those that did not know that any thing had happened. " anonymous
(Research enables you to be the first company)
Research Defined
Research is defined as systematic, data based, critical, scientific inquiry into a specific problem that needs solution. Research provides the information that enables managers to make decisions to rectify problems Research Methods: Refer to the ways in which research studies are designed and procedures are established by which data are analyzed.
Business Research
Research information is neither intuitive nor haphazardly gathered. Literally, research (re-search) -search again Research must be objective Detached and impersonal rather than biased It facilitates the managerial decision process for all aspects of a business.
Scientific Research
1- PURPOSIVENESS: - Research has a definite purpose to work for. 2- RIGOR:- Carefulness and exactitude make a research rigorous. It provides theoretical base and carefully thought out methodology. 3-TESTABILITY:- Statistically testable hypothesis can be generated and tested.
Scientific Research
4- REPLICABILITY :-( repeatedness) Results should be supported and repeated in similar settings. 5-PRECISION & CONFIDENCE:- We can never be 100% exact because we select a sample. Errors & biases are likely to occur; we try to be as accurate as possible.
How close the findings are to reality exactitude and accuracy of sample and confidence interval are made. Confidence :- Probability that outcome is true it is called confidence level eg. 95%, 99% is congenial
Precision:-
Scientific Research
6-OBJECTIVITY:- Results are based on facts not on emotions. 7-GENERALIZABILITY: - Applicability of findings in one setting to other, results are valid in other organizations as well. 8-PARSIMONY:- Simplicity in explaining the results eg. Less Variables are identified to understand the situation.
Information Reduces
Uncertainty
It aint the things we dont know that gets us in trouble. Its the things we know that aint so.
Artemus Ward
Thought Process
DEDUCTION: - Process of arriving at conclusions by interpreting the meaning of the results of data analysis. The conclusion must necessarily follow from reasons. Reasons are said to imply the conclusion and to present a proof. Deduction is process by which we arrive at reasoned conclusion by logically generalizing from a known fact.
Theory
Hypothesis Data collection Findings Hypothesis confirmed or rejected
Revision of theory
(Deductive reasoning)
Thought Process
INDUCTION: Drawing results from one or more particular facts or pieces of evidence. (Observed facts) Conclusion is a hypothesis only. It is only one explanation; there can be others as well. In induction we have data on hand and generate hypothesis and theory from it We observe a certain phenomena and on this basis we arrive at a conclusion or we establish a general proposition based on observed facts
Theory
(Inductive reasoning)
Basic Research
Attempts to expand the limits of knowledge. Not directly involved in the solution to a pragmatic problem. When research is being done chiefly to improve our understanding of certain problems that commonly occur in organizational settings and how to solve them. R & D department and university professors do this. Purpose is to improve / generate more knowledge.
Applied Research
Conducted when a decision must be made about a specific real-life problem To Solve currently existing problem in the work setting. Research is done with the intentions of applying the results of its findings to solve specific problem currently faced by organization. Most organizations do this research. Usually used for decision-making.
Availability of Data Benefits Time Constraints Nature of the Decision vs. Costs
Is sufficient time available before a managerial decision must be made?
Yes
Does the value of the research Yes information exceed the cost of conducting research?
No
No
No
No
Potential Value of a Business Research Effort Should Exceed Its Estimated Costs
Research Process
1 OBSERVATION
7
3 PROBLEM DEFINITION 4 THEORETICAL FRAMEWORK DATA COLLECTION ANALYSIS, AND INTERPREATIO N
5 GENERATION OF HYPOTHESES
8 DEDUCTION
No
9 REPORT WRITING
10 REPORT PRESENTATION
GATHERING
Seeking information to know more about what one observed. Talking to others and literature review. At the first stage interviews are conducted to know the nature of problem. Nature of information needed to understand problem is: i- Background information of the organization
(By Interview & Literature Survey)
ii Management philosophy and structural factors Information gathered on these issues will be useful for researcher in talking with officials & interviewing them. This information can be taken by asking direct questions iii-Perceptions, Attitudes and behavioral responses
Research Proposal
A written statement of the research design that includes a statement explaining the purpose of the study. Detailed outline of procedures associated with a particular methodology
Research Proposal
A proposal is an individuals or companys offer to produce a product or render a service to a potential buyer or sponsor. The purpose of proposal is: To present the problem to be researched and its importance. To discuss the research efforts of others who have worked on related problem. To suggest the data necessary for solving the problem and how that data will be gathered, treated and interpreted. A contract proposal must represent its plan services & credentials to win the proposal. A proposal is also called work plan, prospectus, outline, and statement of intent or draft plan.
Research Proposal
A Proposal tells: What will be done ? Why it will be done ? How it will be done? Where it will be done? To whom it will be done? What is the benefit of doing it?
Research Proposal
SPONSOR USES
Every research has a sponsor in one form or another. A student researcher is responsible to class Instructor. Doctoral candidate is responsible to committee. In corporate setting researcher is responsible to department or management of organization.. University, Govt or corporate sponsored research use grant committee to evaluate work. Proposal is first step in evaluation process; it allows the sponsors to assess the sincerity of your purpose, design, background material and fitness of undertaking the prefect & compares with computers.
Research Proposal
Proposal also provides a basis for sponsor to evaluate the result of a project by comparing it with find product. External contract starts from RFP (Request For Proposal )
Research Proposal
Researcher Benefits.
Prompts the researcher to assess previous approaches to the problem and revise the plan accordingly. Opportunity to spot flaws in the previous work i.e errors in logic, assumption or even problems. Accepted proposal serves as guide to researcher throughout the project Forces time & budget estimates. Proposal Complexity
Depending on the type of project, the sponsoring individual or institution, and the cost of project; different levels of complexity are required for proposals to be judged.
PROPOSAL COMPLEXITY
Complexity
Type
Student
Least
Term paper Masters thesis Doctoral thesis
Most
Internal
Exploratory study
External
External Proposal : Important section of external proposal includes objectives, design, qualification, schedule, budget executive survey, letter of transmittal.
8.
11. Project Management:- Show the sponsor that research team is organized & can do it efficiently. Include the following: Teams Org. Management procedure & control for Research Project. Examples of mgt & tech reports Research team relationship with sponsor Financial & legal responsibility Management competence