Research Methodology:-Basics

What is Research ? What is Research Methodology? What are Research Methods & Techniques? Research in Management : Why & Where &

what

information

knowledge

solution

Research :Research can be defined as a

Systematic & Scientific Search or investigation for pertinent information/knowledge/solution on a specific topic/subject/problem.

Research:- (Diagram)

on a Topi c

 Research is done in almost all areas.

Introduction:Science (e.g.- physics, chemistry, botany, Zoology, Aeronautics, Agriculture, etc.) Art (Social science) (e.g.-Sociology, philosophy, Economics, Politics ,Anthropology etc.) & also in Management

But in detail why ,on what & how etc. Research is done in business & management ?

Research in Business management (diagram):-

Research

Research (Extra):

In Common parlance :Research is a search for knowledge. If define Technically , (given by Clifford woody) Research comprises problem formulation, Reviewing Literature, hypotheses formulation, research design, data collection, data analysis & finally report writing. It is a movement from unknown to known. It is an original contribution into existing stock of knowledge.

So, in business & management Research is done for:- (what)

Holistic(Comprehensive), scientific & better understanding of total business environment. Strategy making as per characteristics of consumers & competitors. Better & effective Management Style. Change Management in internal environment with reactivity for survival & growth in present. Continuous Development in existing internal environment with proactivity for survival & growth in future.

IntroductionResearch is done for:(why/Results)

Research Methodology :

The way/science

Research Methodology:Research methodology is

the way or Science to do/ conduct research systematically & scientifically.

Research methodology
Research Methodology says that

how
to do/conduct research systematically & scientifically.
Research methodology

not only provides the knowledge of various types of methods & techniques for Sampling , data collection, data analysis & report writing etc. but also guides that which particular method or technique

Research Methods & Techniques

Research methods & Techniques

are the tools or approaches which are used while doing/conducting research.
Research Methods : Probability & Non Probability approach (Sampling) Observation, Interview, Questionnaire, Scheduling, etc.

(Data collection) Charts, Central tendency, Variance, ANOVA, MDS etc. (Data analysis) Research Techniques: Simple random, systematic, convenience, judgement (Sampling) Participant & Non Participants Observation, Personal & Telephonic Interview, Structured & Unstructured Questionnaire (Data

(Why?)
In general life a man may take decisions just based on luck (i.e. without any

basis). But in Business , as high investment is involved & intense competition exists, so irrational decisions (decisions without sufficient logical information base)related to various issues can lead to failure which can results in heavy loss & difficult to survive in market. So in Business, almost decisions are being taken Rationally on the basis of substantial information for reducing risks of failure/loss, making better strategies, increasing efficiency, creating effectiveness & ensuring Success for the organization. For e.g.- A Company has 4 factories, running all over India ,suddenly get heavy loss, so can one(owner) just shut down/invest more any one unit(factory) & chosen randomly (means without any investigation/enquiry).? -Surely no! first he/she(owner/mgmt.)should enquire/investigate properly (systematically & scientifically) that which unit is making loss to company. -Then check the problem/s then take require corrective measures(actions) Hereeither imp. thing to note, in business we the do have to take risk but should not be taken for solve the is, problem/improve systems or shut down if it is advised to do so -as per information obtained from the systematic without substantial logical information base. enquiry/investigation i.e. called Research. Means risk can not be avoided but can be reduced to a great extent

For which Research is conducted.

Laboratory

in Research is done in

Science

Where?

In Management Research is done in

Where?
in Science, the field for research is laboratory . But Management discipline mainly comes under Social

science. So for Management, the field/object for the research is Society & Organizational total environment for/in which it operates.

BUSINESS ENVIRONMENT:Business influencing factors (its characteristics, Dynamism & Complexity )

SOCIAL PHENOMENA:Markets Current trend (what is happening?)

internal Environment
( Management Employees, Procedures, Leadership Style, Structure, culture etc.)
Efficiency, productivity, Effectiveness, satisfaction, levels of the above.

Customers shopping & Consumption patterns

& Their general characterstics, needs,wants,desires, Tastes,preferences,interests demography,psychography,etc.

External Environment
(Technological.,Socio-cultural, Natural, Economical, Political, Legal, etc.) Potential,feasibilty,viablity,intensity,etc.

Competitors-Their Strategic patterns

for competition.

1.Nature of Research Methodology

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

it is systematic. It is scientific. it has objectivity. It has verifiability. It has definiteness. It is art & science both. It has wider scope. Its a tool for new product development. It serves as basis of management principles. It aids in decision making. It is qualitative & quantitative both. It is helpful in prediction & control. It has psychological approaches too. It relies on empirical evidences. It explores new insights/describes in detail/obtain cause & effect relationships.

Nature of Research Methodology

It is Systematic:-

it is systematic because it has step by step process. starts from problem formulation & continues through literature review, hypotheses formulation, research design, data collection, data analysis & ends at Report-writing. It is Scientific:it is scientific because it contains Rules, Principles, methods, techniques for conducting the research . such as Questionnaire, scheduling, Psychological Techniques, Mean, Mode, Median, ANOVAs etc. It has objectivity:As it always has some topic/issue & has an objective to collect information related for the same. It has verifiability :Because research results can be verified by new researcher. It has definiteness : because it has some particular direction & a specific(definite) topic to doing/conducting research.

Methodology
It is art & science both :-

it is art because it provides the researcher necessary skill to collect, analyzing, presentation. it is science because it uses various scientific tools for data collection, data analysis like observation, interview, psychological techniques, mean, mode, median, Anova etc. It has wider scope. as it is used in almost all areas of knowledge like Physics, chemistry, agriculture, aeronautics, space & also in Management like Marketing, HRM, finance, etc. Its a tool for new product development.: because by research marketers able to know needs,wants,desires,tastes,preference,problems,demography,psychogra phy etc. of consumers. on the basis of which organizations develop new products. It serves as basis of management principles. As it helps & guides to make principles, policies, Rules, Regulations, systems, procedures related to management. It aids in decision making: As it provides sound & substantial information base on which management can take rational & better decisions

Nature of Research Methodology

It is Qualitative& Quantitative both :

As sometimes it goes for collect qualitative information like attitude, satisfaction level, perception etc. of consumers, retailers, employees ,hence it is qualitative & sometimes it collects & present information in numerical forms too like number of people, percentage of consumers/retailers/employees, etc. so it is quantitative too. It is helpful in prediction & control :it provides substantial informational base to predict the amount of demand which in turn helps in determining production quantity more accurately. Which reduce the risk of over production & also reduce the risk of of opportunity loss to a great extent. It has psychological approaches too. as it uses attitude measurement techniques & Motivational Research techniques. Viz. Thematic test, word association test, sentence completion test, Rorschach Test, inkblot holtzman test etc. It relies on empirical evidences. As in research data collected is based on experiences of people/consumers/retailers etc..

Methodology
It explores new insights/describes in detail/obtain cause &

effect relationships: As helps to explores an issue/subject for more /new insights when the researcher has either no information or little information (in Exploratory research) And/or goes into detailed investigation & describe the topic thoroughly. (in Descriptive Research) or develop cause & effect relationship between two variables. (in Experimental Research)

Scope of Research Methodology in

management:Although Research has wider scope & it is performed almost all areas of knowledge. But here, we are notifying main areas of management in which research is conducted. 1.Environment level 2.Organizational level 3.Marketing level

Environment al Level Technological

Scope:
Organization al Level
HRM Finance Marketing Production Overall

Marketing Level
Product Price Place Promotion Sales Customer

innovations Socio-Cultural Env. Political-Legal Env. Economical Env. Natural Env.

Competitors

Analysis Industry fears New Market Entry New product development

Organizational Effectiveness

management

:Research is conducted to

1.Environmental level

know environmental changes reactively & proactively.

Technological innovations: Research is conducted to know & adapt new technological innovations, developments in machinery , method, etc. used . For e.g. To know level of use of information technology e.g. Networking, Tally, SAP, etc. in the organization. Economical, Socio-Cultural, Natural, Political - Legal Environments : Research is also done to know the characteristics, complexity, dynamism of socio-Cultural, economical, political- legal, which ultimately gives the idea of the potential, feasibility, viability etc. of the market. Competitors Analysis : Companies conducts research for studying the strategic patterns of competitors, their strengths & weaknesses for making better strategies for competing effectively in order to survive & thrive in the market.

management

:-

Industry fears :Research is conducted sometimes to know the survival & growth opportunities of an industry. it may be due to the extinction of raw material/sources of raw material . E.g. Finishing stock of Petroliam ,coal may cause the extinction for automobile & power industry thus research for alternative sources/solutions is conducted. For the above e.g. the solutions are electric car(automobile), CNG gas generated Automobile, Battery driven Automobiles. New Market entry Before making any entry into any new market , companies conduct research/pilot survey to know market potential, commercial feasibility, growth rate for the acceptance level of the consumers. New product development: Research is mainly conducted to know needs,wants,desires,tastes,preference,problems,demography,psy chography etc. of consumers. On the basis of which Organizations may develop new products & Services.

2. Organizational level HRM:

Scope:

it is related to Efficiency, productivity, Effectiveness, performance, Satisfaction level etc. of Employees, structure, culture etc. of the organization. Finance: It may be related to any operation like Financial analysis, Capital structure, Ratio analysis etc. research is done to evaluate the performance or viability of the existing systems/procedures/approaches for the same, in order to improve the existing one or develop new methods for the same. Ultimately the motive remains for reducing loss & increase profitability. Production: here research is related to know & improve the efficiency, Productivity, effectiveness level of workers , process planning, materials planning, layout, purchasing etc. (like work study, time study etc.) which ultimately have objectives of cost minimization & Profit maximization. Organizational Effectiveness & Success: It is related to effectiveness, efficiency, Rationality, viabilty of general management, administration, systems, procedures, operations , Policies, Rules ,Regulations etc. prevailing currently in the organization. Any research which can contribute to enhance the effectiveness of the organization or towards the success of the organization.

Scope: 3. Marketing Level:- research in management is

mainly done in marketing level in the areas like Product, Price , Place, Promotion, Sales, Customer etc.

Product :

Research is conducted to improve viz.quality, features, design, packaging, labeling, differentiation etc. of the products or services. Price Research is conducted for the cost minimization, determining Pricing methods(strategies), develop new pricing strategies etc. for the product in order to attract & retain the customers. Place Research is also conducted for evaluating & improving the performance, satisfaction, effectiveness of the distribution channels ( Retailers, Dealers, agents etc.) Promotion Research is also conducted to determine & develop appropriate & new approaches/methods for Advertising, Sales promotion as per the target market. Sales : Research is conducted to know the sales performance(sales audit), effectiveness & efficiency of the sales force, Determination of Sales

Research objectives:
To gain Familiarity with a phenomenon

or to achieve new insights into it (when we either have no information or little information.) (Studies with this objective in view are termed as Exploratory or Formulative Research Studies)
To Portray Characteristics of a particular individual, situation or a

group. & determine the frequency with which something occurs. (in this actually we go into the details & describe the issue thoroughly.) ( studies with this objectives are known as Descriptive Research studies & Diagnostic Research Studies respectively)

To Test a hypothesis of a Cause-&-Effect relationship between

variables. (Such studies are known as Hypothesis-Testing Research Studies.)

Types of Research:1. Descriptive Vs Analytical 2. Fundamental Vs Applied 3. Quantitative Vs Qualitative 4. Conceptual Vs Empirical 5. Some other types (on different bases) 6. Time-> One time Vs Longitudinal 7.

Environmental setting-> Laboratory Vs Field setting

7 Steps

Research Process :
Problem Formulation: Review the literature: Formulating Hypothesis Research Design Sample design Data Collection Data Analysis Hypothesis Testing Generalization & Interpretation Report Writing

& Statement of Research

Problem formulation: What is Problem formulation (Definition) Process Steps for Problem Formulation (with

Diagram) Examples Statement of Research (How it develops?) Examples Importance/Advantage/Need of Problem formulation

What is Problem formulation?

Problem Formulation is

finding/deciding the problem/topic & for the research study.

Research problem refers to some subject or difficulty

which researcher experiences in business scenario & wants to find out solution for the same. Problem formulation is the first & foremost step of research process. In problem formulation The researcher defines the research Problem, statement of research & objectives of research. In the process of Problem formulation & Statement of

3. importance/Advantages/Need of Problem formulation

1. First & foremost advantage is : Clarity of Research

topic & objectives of research.

Base for deciding further plan for the

research(Research Design)(Base for choosing most appropriate Research & Sampling Strategies and data collection & analysis techniques.)
Clarity of direction to collect data.

Specification of topic reduces wastages of time, effort & money. Defining the research problem helps the researcher to specify his/her needs for conducting research .
Turn the ideas into research questions &

objectives.

Examples
A Study on effectiveness of Advertising

Program of Pepsi Co. A Comparative Analysis between Caf coffee day & Barista. A Study on job Satisfaction level of the employees of Microsoft Corporation. A study on Brand preference in Banking industry. A study on effectiveness of Social Welfare program of Jaypee Cement.

Statement of Research
After deciding the topic a researcher needs to

make Statement of Research.

Statement of Research is the specific &

clear description of the research problem/topic.

Process of making Statement of Research is

actually defining the research problem specifically & clearly research problem. it makes clear the place, time, type, area of interest, etc. for the research study.

Research)
Why productivity of Japan is higher than India.?

We are taking the above example of research Problem for making/developing a statement of Research for it by making it more specific & clear by following considerations(asking questions). Which type of productivity is talking about? Ans .: Laborers productivity For which industry it is talking about? Ans. : Textile industry For which specific period of time it is talking about? Ans. : 2008-2009
So now the Topic(Research Problem) would become as follows.

Why laborers productivity of textile

Procedure of Testing Hypothesis

Set up a hypothesis
Set up a hypothesis about a population parameter 1. Collect data 2. Take decision that our hypothesized population parameter is correct or not. Or 3. Whether the difference is significant or not. Two hypothesis in a statistical test are 1. Null Hypothesis 2. Alternative hypothesis

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Procedure of Testing Hypothesis (contd)

Null Hypothesis (H0)
The statement being tested in a test of significance is

called the null hypothesis

Usually the null hypothesis

Asserts that there is no real difference in the sample and

the population in the particular matter under consideration & that the difference found is accidental & unimportant arising out of fluctuation of sampling

Example H0: =0

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Procedure of Testing Hypothesis (contd)

Alternative Hypothesis ( Ha )
Specifies those values believes to hold true

Example Ha: 0

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Procedure of Testing Hypothesis (contd)

Set up a suitable significance level
To test the validity of Ho against that of Ha at as certain

level of significance.

Experiment rejects or accepts a null hypothesis depend

upon the significance level adopted.

Significance level is customarily explained at the 5%

level, is the probability of rejecting the null hypothesis.

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Procedure of Testing Hypothesis (contd)

Setting a test criterion
Selecting an appropriate probability distribution for the

particular test, a probability distribution.

t, f and chi square

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Procedure of Testing Hypothesis (contd)

Making decision
Draw statistical conclusion. Decision either to reject or to accept the null hypothesis Result Probabilities< 5% (difference is significant, not

explained by chance variation alone,) Null Hypothesis is reject. Ho is false explained by chance variation alone,) Null Hypothesis is accepted.

Result Probabilities > 5% (difference is not significant,

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The Plan

Research Design
What is Research Design (Definition) Important Concepts relating to research

Design Types of Research Designs(Exploratory, Descriptive & Experimental) Parts of Research Design

What is Research Design (Meaning & Definition)

Research Design is the blueprint for a Research

Project. Research Design is the Conceptual Structure of Research Design is layout/framework for a Research Project. Research design is the master plan specifying the methods and procedures for collecting and analyzing the needed information

Concepts of Research Designs:

Variables A variable is defined as anything that varies or changes in

value. Dependent & Independent Variables Continuous & Discontinuous Variables: If the values of a variable can be divided into fractions then we call it a continuous variable. Any variable that has a limited number of distinct values and which cannot be divided into fractions, is a discontinuous variable.
Moderating Variables A moderating variable is one that has a strong

contingent effect on the independent variable-dependent variable relationship. Intervening Variables: . It comes between the independent and dependent variables and shows the link or mechanism between them.

Types of Research Designs:

Exploratory or Formulative Research Studies When we either have

no information or little information. So To gain Familiarity with a phenomenon or to achieve new insights into it .(Studies with this objective in view are termed as Exploratory or Formulative Research Studies) (secondary data analysis, experience surveys, case analysis, focus groups n projective techniques)
Descriptive Research studies & Diagnostic Research Studies

it is undertaken to provide answersto questions of who, what, where, when and how but not why (in this actually we go into the details & describe the issue thoroughly.) Cross sectional and longitudinal studies measures units from a sample of the population at only one point in time (sample surveys) longitudinal studies repeatedly draw sample units of a population over time.

Hypothesis-Testing Research Studies. To Test a hypothesis of a Cause-&-Effect relationship between variables. (

Parts of Research Design

Observational Design: Relates to the

conditions under which the observations are to be made. Sampling Design: Statistical Design: concerns with the questions of how many items are to be observed and how the data/information gathered & analyzed. Operational Design:

Sampling
Population Population
Sample Sample

All items in any field of enquiry constitute a universe or population A sample is that part of the universe which we select for the purpose of Investigation It exhibit the characteristics of the Universe. Sampling is the process of learning About the population on the basis Of a sample drawn from it.

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Theoretical base of sampling

Law of statistical regularity: if a sample is taken at
random from a population it is likely to possess almost the same characteristics as that of the population. Example

Law of inertia of large number: the other things being

equal, larger the size of the sample, the more accurate the results are likely to be, bcoz large numbers are more stable in comparison to the small one.

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Reasons for Sampling

Budget and time Constraints (in case of large populations) High degree of accuracy and reliability (if sample is

representative of population)

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Determine Determine sample sample size size 4 4 3 3 Select Select a a Sampling Sampling Frame Frame Determine Determine if if a a probability probability or or non-probability non-probability sampling sampling method method will will be be chosen chosen Plan Plan procedure procedure for for selecting selecting sampling sampling units units 5 5

2 2

Select Select actual actual sampling sampling units units

6 6

1 1

Define Define the the Target Target Population Population or or type type of of universe universe
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Conduct Conduct fieldwork fieldwork

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7 7

Defining the Target Population

The target population is that complete group whose relevant

characteristics are to be determined through the sampling

A target population may be, for example, all faculty

members in the Department of Management in the ITM university, all housewives in Islamabad, all pre-college students in Gwaliors, and all medical doctors in Jhansi

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Sampling Units
The sampling unit is a single element or group of elements

subject to selection in a sample. Examples:

Every student at ITM whose first name begins with the

letter F All child passengers under 18 years of age who are traveling in a train from destination X to destination Y All jeweler shops in sectors F-6, F-7 and F-8 in Islamabad

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The Sampling Frame

The sampling frame is a list of all those population elements

that will be used in the sample

Examples of sampling frames are a student telephone

directory (for the student population), the list of companies on the stock exchange, the directory of medical doctors and specialists, the yellow pages (for businesses)
Often, the list does not include the entire population.

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Size of sample
large. sample
The size of the universe The resource available

Size should be optimum neither be too small or neither too

Factors should be considered while deciding the size of the

The degree of accuracy Homogeneity or heterogeneity of the universe Nature of study Method of sampling adopted Nature of respondents

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Determination of sample size

n = {Z o / d}

n = sample size z = value at a specified level of confidence s = standard deviation of the population d = Difference between population mean and sample mean. Ex: Determine the n if SD is 6, population mean is 25, sample mean is 23 & the desire degree of precision is 99% N= {2.576X62} = 7.728 = 59.72 = 60

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Probability and Non-Probability Sampling

Probability Sampling
Every element in the population under study has a non-zero probability of selection to a sample, and every member of the population has an equal probability of being selected An arbitrary means of selecting sampling units based on subjective considerations, such as personal judgment or convenience. It is less preferred to probability sampling

Non-Probability Sampling

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Non-Probability Sampling (1)

Convenience Sampling This is a sampling technique
which selects those sampling units most conveniently available at a certain point in, or over a period, of time

Ex:
Major advantages of convenience sampling is that is

quick, convenient and economical; a major disadvantage is that the sample may not be representative
Convenience sampling is best used for the purpose of

exploratory research and supplemented subsequently with probability sampling

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Non-Probability Sampling (2)

Judgment (purposive) Sampling This is a sampling

technique in which the business researcher selects the sample based on judgment about some appropriate characteristic of the sample members
Example 1: Selection of certain voting districts which

serve as indicators for the national voting trend

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Non-Probability Sampling (3a)

Quota Sampling quotas are set up according to some
specific characteristics
Example: in a radio listening survey the interviewers may

be told to interview 500 people living in a certain area & that out of every 100 persons interviewed 60 are to be housewives, 25 farmers & 15 children's under the age of 15.

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Non-Probability Sampling (3b)

Quota Sampling has advantages and

disadvantages:
Advantages include the speed of data collection, less

cost, the element of convenience, and representativeness (if the subgroups in the sample are selected properly)
Disadvantages include the element of subjectivity

(convenience sampling rather than probability-based

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which leads to improper selection of sampling units)

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Non-Probability Sampling (4)

Snowball Sampling This is a sampling technique in which

individuals or organizations are selected first by probability methods, and then additional respondents are identified based on information provided by the first group of respondents
Example: Through a sample of 500 individuals, 20 scuba-

diving enthusiasts are identified which, in turn, identify a number of other scuba-divers
The advantage of snowball sampling is that smaller

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sample sizes and costs are necessary; a major disadvantage is that the second group of respondents suggested by the first group may be very similar and not 90

Probability Sampling (1)

Simple or Unrestricted Random Sampling This is a

technique which ensures that each element in the population has an equal chance of being selected for the sample
Example: Choosing raffle tickets from a drum, computer-

generated selections, random-digit telephone dialing

The major advantage of simple random sampling is its simplicity

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Probability Sampling (2)

Stratified Sampling (restricted) the population is divided

into several subpopulations & then we select items from each stratum to constitute a sample.
Example: The student body of CIIT is divided into two

groups (management science, engineering) and from each group, students are selected for a sample using simple random sampling in each of the two groups, whereby the size of the sample for each group is determined by that groups overall strength

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How to select stratified random sample

Base of stratification: strata should be constructed in a

way which will minimize differences among sampling units within strata, and maximize differences among strata.
Number of strata: feasible. As a generalization more then

six strata may b undesirable.

Sample size within strata: we can use either a

proportional or disproportional allocation.

Proportional stratified sample: the number of item

drawn from each stratum is proportional to the size of the strata.

Example: if the population is divided into five groups, their

respective sizes being 10, 15, 20, 30, 25 percent of the population and a sample of 5000 is drawn, the desired proportional sample may be obtained
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Probability Sampling (2)

From stratum 1 : 500010100 = 500 items From stratum 2 : 500015100 = 750 items From stratum 3 : 500020100 =1000 items From stratum 4 : 500030100 = 1500 items From stratum 5 : 500025100 = 1250 items

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Probability Sampling (2)

Disproportional stratified sampling: an equal number

of cases is taken from each stratum regardless of how the stratum is represented in the universe.

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Probability Sampling (3)

Symbolically: k = N/n

Systematic Sampling This is a technique which in which an

initial starting point is selected by a random process, after which every nth number on the list is selected to constitute part of the sample. (k = sampling interval, N = universe size, n = sample size
Example: in a class there are 96 students with Roll Nos.

from 1 to 96. it is desired to take sample of 10 students.

K = N/n = 9610 = 9.6 For systematic sampling to work best, the list should be

random in nature and not have some underlying systematic pattern

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Probability Sampling There are other specialized techniques of

sampling such as:
Cluster Sampling Area Sampling Multistage Area Sampling

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Issues in Sample Design and Selection (1)

Accuracy Samples should be representative of the target

population (less accuracy is required for exploratory research than for conclusive research projects)

Resources Time, money and individual or institutional

capacity are very important considerations due to the limitation on them. Often, these resources must be traded against accuracy

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Issues in Sample Design and Selection (2)

Availability of Information Often information on potential sample participants in the form of lists, directories etc. is unavailable (especially in developing countries) which makes some sampling techniques (e.g. systematic sampling) impossible to undertake

Geographical Considerations The number and dispersion

of population elements may determine the sampling technique used (e.g. cluster sampling)

Statistical Analysis This should be performed only on

samples which have been created through probability sampling (i.e. not probability sampling)

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Sampling Errors (1)

Random Sampling Error This is defined as the difference

between the sample result and the result of a census conducted using identical procedures and is the result of chance variation in the selection of sampling units

If samples are selected properly (for e.g. through the

technique of randomization), the sample is usually deemed to be a good approximation of the population and thus capable of delivering an accurate result

Usually, the random sampling error arising from statistical

fluctuation is small, but sometimes the margin of error can be significant

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Sampling Errors (2)

Systematic (Non-Sampling) Errors These errors result from

factors such as an improper research design that causes response error or from errors committed in the execution of the research, errors in recording responses and nonresponses from individuals who were not contacted or who refused to participate
Both Random sampling errors and systematic (non-

sampling) errors reduce the representativeness of a sample and consequently the value of the information which is derived by business researchers from it

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Sampling Frame

Planned Sample

Respondents (actual sample)

Non-Response Error Sampling Frame Error Random Sampling Error Total Population
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Sample Size:
Precision Required Cost/Budget Available Variance in Population

Observation Method Interview Method Questionnaire Method Questionnaire Design Questionnaire Vs Schedule Attitude Measurement Techniques Motivational Research Techniques

Sources of Secondary Research Information

Library books, journals, newspapers, CD

roms, directories. Internet on-line computer searches e.g. Data bases, periodicals (Emerald) and newsletters, demographic data (GIS). (URLs and Search engines) Trade associations and societies (also available on internet). Census also government data on internet Published company accounts

Sources of Secondary Research Information

Sales invoices e.g. memberships or flights

sold Usage figures e.g. leisure centre Personnel records e.g. staff turnover Sales people e.g. expense accounts, call reports

 Classification of data through coding, editing, tabulation and then

draw statistical inferences.

Criteria for good Research :

The Topic & objectives of the research should be defined clearly &

specifically. The Source of literature review should be authenticated & Reliable. The hypothesis should be formed carefully & it should define the relationship between (the independent & dependent) variables clearly. The Research Design should be described in sufficient detail to permit another researcher to repeat the research for further advancement. The Procedural design should be carefully planned to yield results that are as objective as possible. Means Research design should aims to combine relevance to the research purpose with economy in procedure. (Value of information should be maintained with proper a care for economizing the cost of the research by Rational thinking)

The data collection technique should be appropriate. The data analysis technique should appropriate. & The

Cost & Value of

Cost & Value of information

Cost of information Value of information Cost of information Vs Value of information

Cost of information:
Cost Related to access to secondary data. ( library, internet access

charges etc.) Cost related to Research Design 1. Cost related to Research Design : in Experimental design is more costlier than other research design. 2.Generally Probability Sampling is costlier than Non Probability Sampling. 3.Sample Size: as the size of sample increases, cost of Research also increases. 4. Cost Related to Data collection Technique : cost related to contacting the respondent, Collecting & recording Cost, Stationary charges E.g. Personal interview is costlier than Telephonic interview, Questionnaire is economical than Scheduling. Cost Related to Data analysis Technique.(use of Staff, Software,

Value of information
The level of indecisiveness in the case of

absence of that particular information. Degree of variation in

Cost

of information Vs information

Value of

In any research, Research Design (including Sampling

design) should be carefully & rationally planned so that there should be proper balance between Cost of information & Value of information Means neither the cost (Money, effort & time) of the research study should increase unnecessarily nor the accuracy of the research shouldhuld be compromised.