Introduction to Business Research- Fundamentals of Research-Useful for MBA Students and Professionals

Fundamentals/Basics of Research

Introduction to Research and Theory of science

Research is a systematic search and investigation of the knowledge, information or more generally answer or solution to a problem. Many people believe that research is a kind of search which is not new most of the time.

Research is an objective study, which is almost a part of science or science in itself.

There are many popular terminologies used in defining and introducing research.

Research is unbiased.

Research is structured.

Research is sequential.

Research is enquiry.

Research is guided to explicit and implicit objective.

Research is clearly understood and identified based on its types.

Research as a theory of science

Theory of science is also called scientific theory. Research is not subjective and haphazard type of study it is rather more objective and systematic which possesses the quality of theory of science.

A scientific theory is a structured explanation to explain a group of facts or phenomena in the natural world that often incorporates a scientific hypothesis and scientific laws.

The scientific definition of a theory differs from the definition most people use in everyday conversation.

The formal scientific definition of theory is quite different from the everyday meaning of the word.

It refers to a comprehensive explanation of a natural phenomenon that is supported by a large body of evidence.

Many scientific theories are so well established that new evidence is unlikely to significantly alter them.

No new evidence, for example, will demonstrate that the Earth does not orbit the Sun (heliocentric theory) or that living things are not made up of cells (cell theory).

What is a good research?

Good research generates dependable data that is derived from professionally conducted practices and can be used for decision-making with confidence.

In contrast, poor research is haphazardly planned and carried out, resulting in data that a manager cannot use to reduce decision-making risks.

Research with no doubt should have scientific qualities/characteristics:

a. Purpose clearly defined

b. Research process detailed

c. Research design thoroughly planned

d. High ethical standards applied.

e. Limitations frankly recalled.

f. Adequate analysis for decision maker's needs

g. Finding presented unambiguously

h. Conclusions justified

i. Researcher's experience reflected.

 Objectives of Research

The purpose of research is to discover answer to questions through the application of scientific procedures.  Regarding the main aim of research is finding out the truth and reality which obviously is hidden and which has not been discovered yet. However the objectives based on the type of research, the general objectives are as follows:

i. To gain familiarity/ to achieve new insights into it= exploratory or formulate research

ii. To portray accurately the characteristics of a particular individual, situation and group=descriptive research studies.

iii. To determine the frequency or it is associated with something=diagnostic research

iv. To test the hypothesis of a causal relationship between variables=hypothesis testing.

Motivation for Research

Everybody may not be motivated to carry out the reesarch. There might be various motives which draws you to wards the field of research and investigation. Some of the important and common reasons for motivation:

1. Desire to get a research degree and its benefits;
2. Desire to tackle the problems and challenges in solving the unsolved problems;
3. Desire to get intellectual joy by doing some creative work;
4. Desire to provide service to society;
5. Desire of getting respect.

Many other factors, such as government directives, employment conditions, curiosity about new things, a desire to understand causal relationships, social thinking and awakening, and so on, may also motivate (or compel) people to conduct research operations.

Types of Research

There are various types of research based on different parameters. The more casual types are as follows:

a. Qualitative Research

Qualitative research involves non-numerical data, such as opinions and literature. Examples of qualitative data may include Focus groups:

i. Surveys,

ii. Participant comments,

iii. Observations

iv. Interviews

Qualitative research is frequently used by businesses to determine consumer thoughts and reactions. For example, a marketing firm might show a new commercial to a focus group before airing it to the general public to get feedback. To make decisions, the company gathers nonnumerical data, such as the opinions of focus group participants.

b. Quantitative Research

Quantitative research depends on numerical data, such as statistics and measurements.

For example, a car manufacturer may compare the number of sales of red sedans compared to white sedans.

The study draws conclusions based on concrete data, such as sales figures for red and white vehicles.

Note the research can be categorized in to various types such as:

Dipak Chawla and Neena Sondhi (2011) in their book Research Methodology: Concepts and Cases have mentioned five types:

i. Fundamental/Basic Research

It is vast and the time consuming type of research. It is also called pure research. The main objective of fundamental and basic research is to find out the knowledge and skill independent to the particular context. The pure science is based on basic and fundamental research. It deals with the natural phenomena.

ii. Exploratory Research

Exploratory research is guided by the need of deeper understanding where the researcher attempts to resolve ambiguity. It gives the ideas and ways to the researcher the direction to subsequent and more structured and rigorous research.

For example

A review of market opportunities available ot a prospective entrepreneur can be the topic of exploratory research. Another topic could be the selection parameter of selecting MBA students for new session.

iii. Conclusive Research

Conclusive research tests and analyses the basic findings of exploratory research. The findings of conclusive research are authenticated in nature. Here the formulated variables are tested and authenticated. Contrasting to the exploratory research, conclusive research is more structured and definite.

iv. Descriptive Research

Descriptive research is always used and carried out to describe the situation, community, phenomenon, outcome or program. The annual census carried out by the government comes under the study of descriptive research.

v. Casual Research

 It is also one type of conclusive research. Here the research checks and tries to study and find out the effect of one aspect into another or more specifically the effect of one variable into another. The essential quality of casual research is supposed to be highly structured and ridid sequential approach to sampling. The more important task in causal research is to control the intervening variables.

For example

The impact of flexible work policies on turnover intention  is a topic for casual research. BUT the researcher has to control other intervening variables such as age, marital status, organizational commitment and job autonomy etc.

H.K. Dangi and Shruti Desen (2016) in their book entitled Business Research Methods have talked 11 different types which are listed as:

i. Fundamental Research

Fundamental research is carried out for generalization and building a theory.

Fundamental research are mainly discarding the ideas of immediate use and commercial purpose but are for the enhancement of knowledge.

They are popularly termed as "pure" or "basic" research.

It is conducted to address the challenges in existing theory which ultimately adds a new scientific ideas.

Broad-based information are the objectives and motivation of fundamental research.

The findings of pure research can be the study areas of other applied research.

For example

How the eastern civilization is developed or evolution of earth can be the study topic of fundamental research.

ii. Applied Research

As the name suggest, the applied research is carried out to address the problems or finding out the answer to the question in practical context. The applied research most of the time based on the context, situation and subject areas. If a researcher finds some problems which is waiting a solution then he goes for systematic investigation then it is an applied research. The nature and features of applied research can be listed as follows:

Applied research are designed and conducted to solve the specific problems of any organizations.

The applied research are more expensive and they are funded by some big agencies like government and non government agencies most of the time.

For example

Market share and its characteristics, sales analysis and forecasting etc. Here, the researcher has to identify the problem (which is not obvious or apparent in surface but has to go deeper) first and then only solving the problem.

iii. Quantitative Research

As we know It is a part number, percentage, amount, length etc scaling and measurement. The researcher use the quantity measurement here. Lets see it in few bullets.

There are quantitative properties to be measured.

The researcher has to develop the hypothesis and theories.

The researcher goes for empirical investigation.

The phenomena should be expressed in terms of quantity.

Statistical models and tools are used quantitative researches.

It uses more structured questions where most of the time predetermined response options are provided.

The large number of respondents is taken for the quantitative research.

iv. Qualitative Research

Qualitative research concerned with the qualitative phenomena. The words and sentences, images, maps etc are taken as data and analyze to get findings.

It deals to the findings/measuring of meanings, definitions, characteristics, symbols, metaphors and description of things.

Qualitative research is more subjective and exploratory in nature.

It deals with the human feelings, emotions, attitude, perception, understanding, behavior etc.

Qualitative research are highly recommended while the internal human motive and behavior are supposed to study.

Qualitative research are also sub divided into three types- phenomenology, ethnography and  case study.

a. Phenomenology

It studies the experience of one or more individuals for a phenomenon of interest. For example, the experiences of online supping from their mobile phone.

b. Ethnography

In the similar line, ethnography focuses on describing the culture of a group of people by studying their share attributes, values, norms, practices, languages and material things.

c. Case study

Case study takes a single subject or object to study it in a detail pattern. Many aspects and features of a single subject is studied in case study.

The remaining types are only listed without their description.

v. Descriptive Research

It attempts to describe and explain the current existing condition of a phenomena.

The main concern of descriptive research is to the conditions, practices, structures and relationships.

This researches involve fact finding without any control over the variables.

Here the researcher does not concern the reasons and trends but simply focuses on the existing situation and trend.

Ex-Post facto is used in this type of research.

vi. Analytical Research

The researcher in analytical research, attempts to answer the question "how" and "why". Which most of the time give answer to analyze the causes and reasons behind the phenomenon. The conclusion of analytical research is to bring the more analytical finding based on the various logical and related responses.

For example

Why brand preferences have changed can be a question or topic of analytical research.

vii. Conceptual Research

As the name suggest, conceptual research is carried out to develop new concept and ideas about the subject matter. It is more casual in pure and social science. It helps to formulated the concepts so that enhances the knowledge.

viii. Empirical Research

It is data based research involving experiments and observations. First of all the researcher collects the empirical data then formulates the hypothesis. Then the researcher either establishes or rejects the hypothesis based on sufficient data.

ix. Historical Research

The research which utilizes the historical documents is called historical research.

The philosophy of a person and group can be a subject of historical research.

Archeological studies are the examples of historical research where all the historical documents and events are studied.

x. Cross-Sectional Research

The term cross-sectional refers to the study on various subjects at one point in time.

It can be the exploratory, descriptive or analytical type of research.

Many business researches are conducted as cross-sectional type because to study the trend and status of current business market to adopt the strategies.

For example

The final results of 10 public and 10 private schools in Birendranagar in 2022.

Longitudinal Research

As the name suggests, longitudinal research makes observation more than a single point of time. It is carried out the on the vertical basis. Comparatively few or single institution, an individual or group are taken as the subject of the study. It is lengthy and more time consuming in nature. The subject is studied in different time periods to come to a conclusion.  

Scientific Research Process and Steps of Research

The interesting fact here to address is if you say research process then it is automatically the scientific research process.

The modern research process either academic or professional/business both are surely scientific in its nature.

When we talk about process, we should understand there are steps to take place. These steps should be organized and placed. These all elements are systematically placed in to a series of order.

In case of research process, C. R. Kothari and Gaurav Garg (2019) listed the steps of scientific research process.

i. formulating the research problem
ii. extensive literature survey
iii. developing the hypothesis
iv. preparing the research design
v. determining sample design
vi. collecting the data
v. execution of the project
vii. execution of the project
viii. analysis of data
ix. hypothesis testing
x. generalizations and interpretation
xi. presentation of the results

 Note: The brief description of all those steps will be added very soon.

Approaches to Research

Approaches to research are of two types. Approaches are the ways of dealing about something. Here in case of research, approaches means how we deal the research. What are the guiding thought or covering philosophy through which we deal research, carry out it and complete it.

Approaches are popularly of two types.

a. Qualitative Approach to the Research

Qualitative approach to research refers the overall perspective, an assumption, and philosophy which guidelines the overall methods and concerning aspects of the research. 

Qualitative approach to research is concerned with subjective assessment of attitudes, opinions and behavior. Research in such a situation is a function of researcher's insights and impressions. This approach guides the overall research procedures to generate the qualitative findings which is against to the finding based on numerical and quantitative analysis.

b. Quantitative Approach to the Research

Quantitative approach to research refers to the collecting (generating) data in quantitative form. It analyses and describes data in numbers and statistics. There are various tools of quantitative approach from the very beginning to the findings and conclusions of the research.

Quantitative approach can also be subdivided into three more types.

i. Inferential approach

Inferential approach is one of the very popular approaches of quantitative research approach. As the name suggests inferential means to infer or predict something. Here in quantitative approach to research, the main purpose of it is to form or mark or analyze the data base to infer characteristics or relationships of population. Inferential approach is more common to survey research where the nature and characters sample is analyzed to infer the nature and characteristics of the entire/total population. The main tool of inferential approach is question/observation.

For example

You want to see the financial status of  female teachers in Birendranagar for which you will collect sample 70 teachers of Birendranagar. You will analyze the data by the help of number, percentage and some statistical tools and the findings will be utilized to infer the nature and qualities of the entire population, i.e. the total female teachers in Birendranagar.

ii. Experimental approach

Experimental approach is more scientific in nature however, others are also semi scientific in their nature. Here in this approach, the researcher fully controls the research environment. Some of the variables are controlled and manipulated to seed their effects on other variables.

For example

The relation of salary in saving of worker is the topic to experimental approach. To check the level of happiness or impacts of happiness in relation to salary comes under the area of experimental approach. Here the researcher divides the study population into two parts. One is control group and another is treated as previous. The researcher checks whether there is change in the saving.

iii. Simulation approach

As the name suggests, the simulation approach the research environment and setting is artificial where the data are presented. It is a type of quantitative approach. It is an operation of numerical model where the research represents the structure of dynamic process.

For example

How do organizations undergo fundamental change? Is a beautiful example of simulation approach.

Simulation modeling is a strategy for safely and effectively resolving real-world problems. It provides an easy-to-verify, discuss, and comprehend method of analysis. By delivering straightforward insights into intricate systems, simulation modeling provides valuable solutions across sectors and disciplines.

Reasoning, Management research-concepts, types and significance

Reasoning is used to bring conclusion and make some predictions based on the existing knowledge.

Majority of the scholars have categorized reasoning in to two types. They are deductive reasoning and inductive reasoning whereas some others have listed the types as of 7.

i. Deductive reasoning

ii. Inductive reasoning

iii. Analogical reasoning

iv. Abductive reasoning

v. Cause-and-effect reasoning

vi. Critical thinking

vii. Decompositional reasoning

Here we briefly discuss the two types of reasoning.

Deductive reasoning 

It operates from the broadest to the narrowest level of abstraction. This is sometimes referred to as a "top-down" method. We could start by formulating a hypothesis about our topic of interest. Then we limit it down to more precise hypotheses that can be tested. When we collect observations to address the hypotheses, we narrow things down even more. This allows us to test hypotheses with specific facts, resulting in confirmation (or rejection) of our original assumptions.

[Deductive Reasoning]

Inductive reasoning 

It moves from individual facts to broader generalizations and ideas in the other direction. This is sometimes referred to as a "bottom up" strategy. In inductive reasoning, we begin with specific observations and measures, begin to detect patterns and regularities, formulate some tentative hypotheses that we can explore, and finally end up developing some general conclusions or theories.

[Inductive Reasoning]

 

What is management research?

The research which deals with the problems and required knowledge and skills of management and business is called management research.

Management research or business research obviously a systematic and objective process of gathering, recording and analyzing the data to make managerial decision for the promotion of the business.

Obviously, it is a systematic study of problem to answer and solve those problems.

Management research is not an end in itself but it is a means to an end. That is to say management research may not be the medicine to the problems of business and management but the managers can use it as per the context and nature of the problem.

Types of Management Research

Management is a type of study of social science. A number of research methods and designs have been developed in social science. The types are as follows:

a. Policy Research

b. Managerial Research

c. Action Research

d. Evaluation Research: Formative Evaluation and Summative Evaluation

Methodology for Management Research

Policy Research

Objectives: to formulate major proposals, to establish their priorities and to identify their implications

Data Requirements and Analysis: Macro-level data about i. environmental forces, ii. Overall organizational situation, iii. Competitive standing of the organization. Longitudinal data  and Time Series data

Research Output: Identification of policy options, Identification of policy priorities for the organization.

Others types will be added soon.

Significance of Management Research

Management researches are very significant to achieve the goals of any business.

Managers have to take right decisions in right time which is almost impossible without the findings of management research.

Identification of problems and solving those problems are the everyday business of a good managers.

Traditionally the organizations were treated as economic entities but the time has changed now.

Business organization have been establishing a separate department for research. R&D i.e. research and development to help organization in achieving goals and well as promoting good will.

The role of management research is always pivotal in business. For example

In United States all most all the areas and sectors of development more than 45% budget is invested in research and development which has brought this country in number one position in the world.

References

Timilsena (2022). Research Methods for Business Platform.

Cooper Schindler and Sharma (2014). Business Research Methods

Chawla and Sondhi (2018). Research Methodology: Concepts and Cases.

Kothari and Garg (2019). Research Methodology: Methods and Techniques

Dangi and Dewen (2016).  Business Research Methods

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