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MBA : Kerala University UNIT1

Teaching Notes : Prepared by Dr.P.S.Mohana Kumar

1. Definition of Research2. Business Research

3. Features of a Good Research Study

4. Areas of Business Research5. How to start Business Research6. Business Research Analysis : Basic Steps7. Business Research Problem 8. Primary Business Information 9. Research Proposal ( also in Unit2)10. Research Methods versus Methodology11. Types of Research12. Functions of Business Research13. Relevance of Business Research to Managers14. Need to perform Business Research15. Managerial Effectiveness and Research

16. Management Consultant 17. The Building Blocks of Science in Research18. Induction & Deduction in Business Research19. The Case Study as a Research Method20. Case Study to Assess Business Situations21. Difference between the case method and a case study?

22. Business Research Topics23. Business Research in the 21st Century

Definition of Research

Research in common parlance refers to a search for knowledge. Once can also define research asa scientific and systematic search for pertinent information on a specific topic. In fact, research is anart of scientific investigation. The Advanced Learner’s Dictionary of Current English lays down themeaning of research as “a careful investigation or inquiry specially through search for new facts inany branch of knowledge.”1 Redman and Mory define research as a “systematized effort to gainnew knowledge.”2 Some people consider research as a movement, a movement from the known tothe unknown. It is actually a voyage of discovery. We all possess the vital instinct of inquisitivenessfor, when the unknown confronts us, we wonder and our inquisitiveness makes us probe and attainfull and fuller understanding of the unknown. This inquisitiveness is the mother of all knowledge andthe method, which man employs for obtaining the knowledge of whatever the unknown, can betermed as research. Research is an academic activity and as such the term should be used in a technical sense.According to Clifford Woody research comprises defining and redefining problems, formulatinghypothesis or suggested solutions; collecting, organising and evaluating data; making deductions andreaching conclusions; and at last carefully testing the conclusions to determine whether they fit theformulating hypothesis. D. Slesinger and M. Stephenson in the Encyclopaedia of Social Sciences

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define research as “the manipulation of things, concepts or symbols for the purpose of generalising toextend, correct or verify knowledge, whether that knowledge aids in construction of theory or in thepractice of an art.”3 Research is, thus, an original contribution to the existing stock of knowledgemaking for its advancement. It is the persuit of truth with the help of study, observation, comparisonand experiment. In short, the search for knowledge through objective and systematic method offinding solution to a problem is research. The systematic approach concerning generalisation and theformulation of a theory is also research. As such the term ‘research’ refers to the systematic method consisting of enunciating the problem, formulating a hypothesis, collecting the facts or data, analysingthe facts and reaching certain conclusions either in the form of solutions(s) towards the concernedproblem or in certain generalisations for some theoretical formulation.Business Research

Business research is a systematic process of gathering information for aid in making business decisions and development of business standards and processes. It covers all areas of business such as accounting, finance, MIS, market, human resource management and operations management. Some major areas are stated as under:

Features of a Good Research Study

1. Clearly Defined Purpose: Variables and constructs to be clearly defined2. Systematic and detailed plan for investigating the research problem3. Selection of techniques of collecting information, sampling plans and data analysis

techniques must be supported by a logical justification.4. The results of the study must be presented in an unbiased, objective and neutral manner5. Maintain highest ethical standard.6. Must be replicable. The process followed must be reliable. It would aid in more informed

decision making by business managers.7. Any research study usually follows a structured sequence of steps.8. Research must be unbiased and systematic in conduction.

Areas of business research

Market research

It addresses issues pertaining to advertising, product image, packaging and pricing, after-sale services and demand analysis. Market Research is widening through application of econometrics to marketing and political marketing techniques.

Technology and Operations Management

Business research under this area covers a variety of subjects like organizational design, simulation, and management of technology, new product development and innovation.

Management research

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Topics such as employee attitude and behavior, impact of changing demographics on management practices are studies.

Accounting

Two main concerns in accounting are: reporting profitability and finding true cost of each product. Various systems have been evolved like ABC and EVA etc. Similarly, in order to achieve targeted profit, a company must have a budgetary control which entails further studies of the business environments. Further, area of research includes capital markets, social responsibility and environment accounting, ethics and behavioral implications.

Finance:

Topics are studied like appropriateness of financial structure, raising funds through equity or debt, financial leverages and impact on profitability. There are various other issues as valuation methods, risk mitigation with options and future contracts.

How to Start a Research Business

Step 1

Establish your market niche and ascertain what type of research services you will offer. Basically, your market niche is the image you will portray to the world and how you want others to perceive your business. You may be an expert in a specific profession, such as accounting, law, genealogy or education. Alternatively, you may want to provide research services for a variety of different topics. If you choose a specific niche for your research services, refresh your knowledge and conduct your own research on the topic. For example, if you intend to provide information about statistics, develop a clear understanding of how data are collected for statistics and understand how to interpret statistics.

Step 2

Make a list of credible resources that will provide accurate information related to your specific type of knowledge. You can utilize online magazines, government resources, online encyclopedias and published books. Also, depending on the type of information you will provide, it may be beneficial to develop connections with experts in the field. For instance, if you plan to offer information about educational topics, it will be helpful to develop a relationship with school administrators, teachers or professors.

Step 3

Determine how you will deliver the findings of your research to clients. You can provide Internet-based research and deliver the information to customers via email. Set up a website with a web hosting service. Market your site with search engines, and provide an email account to enable potential customers to email their proposals for research. Additionally, you will need to determine how customers will pay for your services, for example through an account you set up with an e-commerce business. Alternatively, you may

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opt to consult directly with business owners and potential clients. Either way, develop a plan for how you will provide information to clients and how you will charge.

Step 4

Market and advertise your services to potential clients. Establish relationships with potential clients and other business owners. Advertise your services via a website, message boards, business cards and proposals to companies. Join professional associations and network with other consultants. Additionally, developing an effective marketing strategy allows you to categorize your target markets and understand how to successfully promote your services to ideal clients. Your potential clients for a research business can encompass a wide range of people and businesses that wish to obtain accuarate information on a variety of topics.

Business Research Analysis : Basic Steps Business research is an important management activity that helps companies determine which products will be most profitable for companies to produce. Several steps are necessary when conducting business research; each step must be thoroughly reviewed to ensure that the best decision is made for the company.

1. Product Analysiso Product analysis is the first step of business research. Companies must find a product that

meets or exceeds consumer demand, or the product will fail in the economic market place. One type of analysis is to find an existing product that can be improved through design or features. Another type of product analysis will find emerging markets with high demand and low supply, which allows for companies to sell new products to meet consumer demand.

2.Market Analysis

o Companies will conduct a market analysis to determine how much profit may be earned from current demand. Management will look at which stage of the business cycle the market is currently in, whether emerging, plateau, or declining. Each stage has its own level of profitability, with the first stage being the highest and the last stage being the lowest profitability. A market analysis will also determine the price points at which products can be sold; for example, high-quality products at a higher price may not tempt consumers to start buying the product based on quality itself.

3.Financial Analysis

o A financial analysis determines the cost of each production item used to produce goods and services. High costs may not allow companies to price goods or services competitively, leading to an unprofitable situation. Management will examine the costs of raw materials, labor, and manufacturing overhead to find the best raw goods available to produce the most profitable product. Management will also review the best cost application methods, ensuring that all production costs are properly applied to each product or service produced.

4.Competitor Analysis

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o Analyzing the current competitors of a market is an important part of business research. Knowing which companies have the best production methods or customer loyalty helps new companies understand how they can create a competitive advantage when entering a new market. Proper business research will also indicate how financially stable companies are and if they can be purchased outright by a company wanting to enter the industry. Buying a competitor may be cheaper than starting new operations for a company.

5.Growth Analysis

o Business research usually includes forecasting the growth and direction of the current industry or market. Knowing which direction the market is headed helps companies determine the stability of new business operations. Entering a slow-growth industry may be unprofitable early on but have better long-term growth potential. High-growth industries will sometimes face a quick downfall, such as the dot.com boom of 2000-2001. Strong growth early in the business cycle quickly gave way to record losses, leading many businesses into bankruptcy from poor growth analysis.

Business research involves establishing objectives and gathering relevant information to obtain the answer to a business issue. You can conduct business research to answer a business-related question, such as: What is the target market of my product? Business research can also be used to solve a business-related problem, such as determining how to decrease the amount of excess inventory on hand. Adequate planning and information-gathering are essential to derive results for your business.

Business Research Problem

Before the research of business issues/problems commences, it’s important to create a problem definition and decision statement. During problem definition, you engage in defining and developing a decision statement. A decision statement expresses the critical question or questions the research must answer. The problem definition process involves various steps, such as understanding the business issue and its key elements; identifying the problems caused by the issue; writing the decision statement; determining the unit of analysis and research variables; and writing the research questions or hypotheses. Organizational analysis assists in arriving at the research problem.

Decision problem: What should be done to increase the customer base of organic products in the domestic market?Research Problem: What is the awareness and purchase intention of health conscious consumers of organic products?

Primary Business Information

During business research, primary business information can be gathered. Such information, which can be exploratory or specific, is gathered by you or someone you know. Exploratory information defines a specific problem and is obtained through open-ended question-and-answer sessions conducted with small groups. When exploratory information identifies a problem, possible solutions are obtained from specific data. Specific information gathering is costly and time-consuming, has a precise scope, and requires a formal and structured approach to interviews. An

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example of primary research is the submission of direct mail questionnaires or online surveys; these usually include an added incentive, such as a discount on the individual's next purchase

Research Proposal

An effective business research proposal details what, where and how research is gathered. It is a written statement explaining the purpose of the research by outlining the business objectives, along with the methods and procedures that will be used during each phase of the project. It typically includes a research cost analysis and the deadlines of the project’s requirements. Research proposals are subject to revisions and must be approved by management before research commences.

Research Methodology vs. Research Methods

Research Methods and Research Methodology are two terms that are often confused as one and the same. Strictly speaking they are not so and they show differences between them. One of the primary differences between them is that research methods are the methods by which you conduct research into a subject or a topic. On the other hand research methodology explains the methods by which you may proceed with your research.ie. the philosophical field of enquiry Research methods involve conduct of experiments, tests, surveys and the like. On the other hand research methodology involves the learning of the various techniques that can be used in the conduct of research and in the conduct of tests, experiments, surveys and critical studies. This is the technical difference between the two terms, namely, research methods and research methodology. When an individual has taken up a task of carrying out a research in a particular field, subject or on a particular topic, there area lot of things that he/she must be aware of, and these include the methods to carry out the research smoothly, and also the different techniques that prove useful while executing the methods of research. The former is known as the RESEARCH METHODS while the later is called RESEARCH METHODOLOGY.

On one hand, where, the RESEARCH METHODS are the modus operandi of conducting various tests, surveys, experiments etc. In order to obtain a result of the research, RESEARCH METHODOLOGY explains these methods in details, so that the researcher can decode for himself, which technique would be the best to follow for his research. In other words, RESEARCH METHODOLGY is about understanding and learning the different techniques that prove useful in conducting the critical studies, tests, experiments as well as surveys. In short, we can say that it is owing to the research methodology, that the conducting of proper research methods can be done in a proper, understandable and systematic manner. . A method is defined as the steps that you must go through it order to complete a task or job whereas methodology is the study of method. Methodology can also be defined as analyzing any rules, methods or steps that are used. If you are writing a thesis or a research project of some kind then you should be including some kind of discussion about the methodology you used, however this should be different from the 'method' section of your project. The methodology section of your project or thesis should

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include a description of the methods you used, not how you carried them out. It should also explain to the reader how and why you decided to choose these particular methods to carry out your research.Particularly if you are writing a project, it is very important that you understand the difference between method and methodology and do not get them confused. The best way to complete these two sections is to write them as you go along with your projec

Research methods may be understood as all those methods/techniques that are usedfor conduction of research. Research methods or techniques, thus, refer to the methods the researchers At times, a distinction is also made between research techniques and research methods. Research techniques refer to the behaviour and instruments we use in performing research operations such as making observations, recording data, techniques of processing data and the like. Research methods refer to the behaviour and instruments used in selecting and constructing research technique. For instance, the difference between methods and techniques of data collection can betterbe understood from the details given in the following chart—

Type Methods Techniques

1. Library (i) Analysis of historical Recording of notes, Content analysis, Tape and Film listening andResearch records analysis. (ii) Analysis of documents Statistical compilations and manipulations, reference and abstract guides, contents analysis.2. Field (i) Non-participant direct Observational behavioural scales, use of score cards, etc.Research observation (ii) Participant observation Interactional recording, possible use of tape recorders, photo graphic techniques. (iii) Mass observation Recording mass behaviour, interview using independent observers in public places. (iv) Mail questionnaire Identification of social and economic background of respondents. (v) Opinionnaire Use of attitude scales, projective techniques, use of sociometric scales. (vi) Personal interview Interviewer uses a detailed schedule with open and closed questions. (vii) Focused interview Interviewer focuses attention upon a given experience and its effects. (viii) Group interview Small groups of respondents are interviewed simultaneously. (ix) Telephone survey Used as a survey technique for information and for discerning opinion; may also be used as a follow up of questionnaire. (x) Case study and life history Cross sectional collection of data for intensive analysis, longitudinal collection of data of intensive character.3. Laboratory Small group study of random Use of audio-visual recording devices, use of observers, etc.Research behaviour, play and role analysis

From what has been stated above, we can say that methods are more general. It is the methods that generate techniques. However, in practice, the two terms are taken as interchangeable and when we talk of research methods we do, by implication, include research techniques within their compass.

Types of Research

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Basic and Applied research

There are two different types of research: basic and applied research. These two research types are used in a variety of studies and field disciplines including psychology, biology and chemistry. These two types of research are also often on student's college exams and even high school exams. Below, I have explained the two main differences between both basic research and applied research. I hope that this helps you either with your exams or with your own personal understanding of this distinction between two important types of research. Basic research is about understanding the various processes between memory, learning, and knowledge. It is about finding information simply to find information. While it may become applied later, it is not sought out for its application to current events. With basic research, researchers choose to research topic of interest to them. It is about figuring out the answer without necessarily figuring out an answer that is applicable to curing a type of disease or to a current problem that they are trying to solve in science today. It is about finding knowledge. It is learning for learning's sake. To learn because they are interested in how something works and want to find out how it works.

Applied research is about dealing with practical problems faced in our world today. For example, if someone were to do research on a way to end cancer then this would be applied research. If they are attempting to find the answer to something that would help solve a practical problem. With applied research, researchers are looking for answers that will be easily applied to current, modern concepts and problems. Most people need to find ways to make their research, "applied" because this is the way that they get grants. People do not want to fund a research project that does not have much application, if any, to the real world.

To be able to do good science you need to understand this research difference and how it applies and/or impacts your individual research.  It is an important concept and unfortunately, many people do not understand the difference. It is a rather easy differentiation and does not require much explanation. Unfortunately most do not take the time to understand the difference between basic and applied research.

Basic vs. Applied Research: The distinction between basic and applied research is largely by the focus of its application. This distinction comes from basic science vs. applied science. Example: physics and engineering. Basic research focuses on determining or establishing the basic or fundamental relationships within a discipline without paying attention to any practical applications to the real world. In contrast, applied research is usually conducted to solve a particular and concrete problem

Qualitative vs. Quantitative Research

When doing market research, businesses often wonder whether they should conduct qualitative or quantitative research. Qualitative research is used to explore and understand people’s beliefs, experiences, attitudes, behavior and interactions. It generates non-numerical data – for example a customer’s description of satisfaction rather than a rating using a numerical scale. Techniques like focus groups and in-depth interviews are commonly used in qualitative research fieldwork to document a variety of experiences, or in studies about how an organization is functioning, revealing views and exp On the other hand, quantitative research often generates numerical data or data that can be converted into numbers for a statistical review.

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A typical example would be a restaurant survey card that asks “from 1 to 5, with one being ‘very dissatisfied’ and 5 being ‘very satisfied,’ how would you describe your dining experience today?” Quantitative research often looks to obtain a statistically reliable sampling of respondents.

Quantitative research is generally better for confirming and clarifying, while qualitative research is usually better for exploring, understanding and uncovering. Often research studies incorporate components of both qualitative and quantitative research techniques. Many times, qualitative research is done first and followed up with quantitative studies. However, the reverse order is not uncommon either, such as analyzing the strengths and weaknesses of each method.While numbers don’t lie (which validates quantitative data as more efficient and able to test hypotheses), by turning surveyed individuals’ input into numbers, researchers may miss contextual detail they could obtain with qualitative research. In contrast, the knowledge produced from qualitative research might not apply to everyone – too few people are reached - but is critical in product or service design. By incorporating both techniques, researchers can obtain the numbers and contextual detail needed.

For example, using quantitative research, you conduct a restaurant survey in which a majority of diners give their dining experience a rating of 2. With the results, you know they are dissatisfied, but you don’t know why. There could be many different issues affecting diners’ experiences such as poor service, unclean atmosphere or distasteful food. Using qualitative research, you now conduct a focus group to try and understand the underlying issues and help determine a potential solution. Researchers obtain a greater understanding of that which they are researching by utilizing both techniques. While there is a tendency to choose one or the other approach when considering “qualitative versus quantitative research,” it is more important to focus on how the techniques complement one another. Overly focusing on the debate of “qualitative versus quantitative” ignores the intimate connection between them and diminishes the value of what each technique provides.

Conceptual vs. Empirical Research

Empirical and conceptual are two approaches that are commonly employed while conducting a research. Conceptual is also referred to as analytical as researchers while empirical analysis is a methodology that tests a given hypothesis through observation and experimentation. Both approaches are very popular but there is no hard and fast to their application and they are not mutually exclusive so as not to be employed in different aspects of a particular research. In empirical research, data collection is done through observation and experimentation. If there is a hypothesis, and two scientists work on it separately collecting information through observation and experimentation, they may arrive at slightly different results because of the observation part in empirical research that is bound to be different as two different persons may have different perception while conducting the observation part of the research.

Conceptual analysis is the preferred method of analysis in social sciences and philosophy. Here, a researcher breaks down a theorem or concept into its constituent parts to gain a better understanding of the deeper philosophical issue concerning the theorem. Though this method of analysis has gained popularity, there are sharp critiques of the method. However, most agree that

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conceptual analysis is a useful method of analysis but should be used in conjunction with other methods of analysis to produce better, understandable results.

Descriptive Vs. Analytical Research

Descriptive vs. Analytical Research: The distinction between descriptive and analytical research is based on the question it asks. Descriptive research attempts to determine, describe, or identify what is, while analytical research attempts to establish why it is that way or how it came to be. The descriptive research uses description, classification, measurement, and comparison to describe what phenomena are. The analytical research usually concerns itself with cause-effect relationships. Examples. Examining the fluctuations of U. S. international trade balance during 1974-1995 is an example of descriptive research; while explaining why and how U.S. trade balance move in a particular way over time is an example of analytical research. Another example: Starting from late 1986, the value of U.S. dollar value has steadily increased against the Japanese yen and German Mark. Examining the magnitude of this trend in the value of U.S. dollar is another example of descriptive research; while explaining how and why this surge in the value of the U.S. dollar is occuring. If one attempts to explain how and why this surge in the value of U.S. dollar is going to affect the U.S. economy,as well as the economies of Japan and Germany, this is another example of analytical research.

Descriptive research is also called Statistical Research. The main goal of this type of research is to describe the data and characteristics about what is being studied. The idea behind this type of research is to study frequencies, averages, and other statistical calculations. Although this research is highly accurate, it does not gather the causes behind a situation. Descriptive research is mainly done when a researcher wants to gain a better understanding of a topic for example, a frozen ready meals company learns that there is a growing demand for fresh ready meals but doesnt know much about the area of fresh food and so has to carry out research in order to gain a better understanding. It is quantitative and uses surveys and panels and also the use of probability sampling. Descriptive research is the exploration of the existing certain phenomena. The details of the facts wont be known. The existing phenomenas facts are not known to the persons.

There are many types of research that can be categorized as "descriptive." These included the following:

1. Surveys (questionnaires, Delphi method, interviews, normative)2. Case Studies3. Job Analyses4. Documentary Analysis5. Developmental Studies6. Correlational Studies

What Are the Functions of Business Research?

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Management Tool

Business research ultimately functions as a management tool that can be used for creating business strategies, managing production and managing growth. As a management tool, it provides a descriptive function (collecting data), a diagnostic function (assessing, evaluating and explaining) and a predictive function (forecasting and choosing a course of action). Managers of all levels use research to shape and direct their employees and their strategies.

Source of Information

Data collection can occur through internal reporting and financial statements, a proprietary research study or by simply gathering or purchasing statistics and data from reliable sources. For example, business research by The Freedonia Group identifies laminate markets and products, outlines comparative market data for the years 1998, 2003 and 2008 and makes projections for 2013 and 2018. With this information, a laminate manufacturer, home builder or product sales representative can compare business goals and realities against viable market data and put future business strategies in perspective.

Redefining Perceptions

Business research provides an opportunity for assessment. The laminate manufacturer has the opportunity to take the information provided and assess how and where its business fits in the decorative laminates industry. What the manufacturer may have assumed about the industry and the perceptions it holds about its role within it may change through this business research assessment. The tools for diagnosing the cause of dropping sales figures or a faulty production process grow broader when business research is included.

Risk Management

Knowing present conditions can lower risk. Business research can provide parameters in which a business can flourish and manage risk. Researching trends and market conditions can identify the need for increased insurance, alternative shipping and transportation needs or the need to assess and sell assets.

Shape Strategies

Business research can inform and shape business strategies. Researching trends or tracking industry data can provide or stimulate strategic planning. Knowing what competitors are doing and the direction they are headed can inform present business strategies. Conducting business research in the area of consumer preferences reveals what products need further development and what features may be beneficial to add.

Relevance of Business research to managers

Business school academics moan that their research has little impact on managers. The standard response is to do more “translation” of academic journal articles to articles in managerial outlets that can be understood by managers.But were it that simple, the impact gap would not exist. Instead, researchers need to design studies with dual methodologies, in order to produce both academic and

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managerial findings. A purely academic methodology seldom produces results that can be reworked to be of relevance to managers.

This problem with business research comes from a unique challenge faced by business schools compared with other academic fields. Business schools have two audiences: academics and business practitioners. Furthermore, because the academics are outside business organisations, they cannot directly participate in or easily observe what is happening inside. Even when business academics can gather data and conduct research on business topics, they face the additional challenge that the great majority of their findings – predictions about what will happen on average – is generally not what managers can use.

Managers are far more interested in pattern recognition. Does this configuration of external circumstances mesh with my particular configuration of strategies and actions to produce a successful outcome for my company? That is why managers much prefer to read articles in managerial journals that are based on in-depth case studies where there are more variables than observations, rather than large sample statistical studies with many more observations than variables. This preference of the managerial audience for case-based evidence raises the challenging requirement for top business schools to conduct research with two types of methodology, because it is not just a case of “translating” academic research for a managerial audience.

Need to Perform Business Research?

Business research can provide a world of information to a newly developed business, a soon to open business or even a business that has been around for awhile. No matter what the case, to stay on top of the ever-changing business world and to stay competitive in the market then a business must stay on top of their game and sometimes that can only be done through research pertaining to their business or to their business markets.From target market analysis' to trying to develop a pricing strategy for a soon to launch product, business research should be performed. If you want your new product to be successful, then this type of research is necessary to learn what age groups and what geographical locations that you should market the product towards, plus more.

There are actually many reasons why you should perform this form of research and no matter what that reason is, you will want to make sure that it is done right. The information that is obtained through business research must be accurate and reliable; otherwise, the information obtained from the research could lead your company in the wrong direction; basically, contributing to the demise instead of the success of the company.

Managerial Effectiveness and Research

How effective are managers? How effective can they become? These are two basic questions which go to the heart of some of the most serious challenges which face contemporary societies, not least the United Kingdom. The problems and issues underlying them demand to be probed and researched; their sensitivity and complexity demand to be respected. The notion of managerial effectiveness has always been an important part of managerial thought and action, but recent years have seen a dramatic increase in pressures and constraints on managers and on what they are expected to achieve. There are various stages of a longitudinal research project on the study of managerial effectiveness. The purposes of this article are: (1) to set forth the various dimensions of the overall research effort; (2) to present a review of the research on the prediction of managerial success or effectiveness; and, (3) to establish the focus for a second paper subsequently to appear in the Academy of Management Journal describing the results and implications of an intermediate research effort.

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Management Consultant

Management consultants are often self-employed and work for companies or organizations that need advice or direction in order to become more efficient, productive and successful. Through analysis, professional experience and examination, consultants introduce new and improved management methods. There is no set model for how to become a management consultant, but here are some helpful tips to start you on the career path. Management consulting is the practice of helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants' specialised expertise. As a result of their exposure to and relationships with numerous organizations, consulting firms are also said to be aware of industry "best practices", although the transferability of such practices from one organization to another may be limited by the specific nature of situation under consideration.Consultancies may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants often bring their own proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks.

External And Internal consultants share the characteristics of helping their clients address problems and improve business and organization results; they have a passion for the wisdom and expertise they bring to the organization, and they have the ability to galvanize clients into action. Yet those of us who have spent years in both roles know there are significant differences in perspectives, challenges and requirements. External consultants are often brought in because they bring wisdom, objectivity and expertise to the organization. They are seen as gurus or saviors bringing wise counsel. Internal consultants have expertise, but it is valued differently as an organization insider.

Contribution And Value

The external consultant is usually viewed as having higher levels of expertise and experience and credibility, especially if he or she is published, credentialed, and well known. This gives the external more influence and buy-in from senior level executives who may prefer to hear from outsiders. Paying for services also implies the output is better or more valued. In addition to these perceived advantages, externals are frequently more up-to-date on the newest business thinking and new ways of working, and they bring the added value of a broader base of experience. With this broader experience, the external can provide benchmarking and best practices as well as insights into potential pitfalls learned from other clients. Externals are valued by clients for their outsider objectivity and ability to give tough feedback or to ask the difficult question.

Internal consultants, limited by perceptions and position in the organization, add a different value of in-depth knowledge of the business, the organization and the management. This in-depth knowledge makes them particularly valuable on sensitive implementation of strategic change projects or culture transformation initiatives, managing processes or projects, and integrating or leveraging initiatives across the organization. Unfortunately, many organizations do not recognize the value of a strong and competent internal consulting function, so they hire less experienced or less competent junior consultants and place them in uninfluential lower positions in the hierarchy. Some organizations have its own consultant or research departments. Some firms hire outside firms to supply research data

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Table 1 Use External Consultants When: Use Internal Consultants When: To support development of strategy or facilitate corporate-wide initiatives or key priorities

To support implementation of strategic priority, or intervention as an operational focus

Do not have internal expertise Have the internal expertise Deep expertise is needed Broad generalist knowledge is needed

An outside, neutral perspective is important Knowledge of the organization and business is critical

New, risky alternatives need validation from an outside expert

Speaking the jargon or the language of the organization and the culture is important

Internal does not have status, power or authority to influence senior management or the culture

A sensitive insider who knows the issues is needed

CEO, President or senior leaders need coach, guide or objective sounding board

Need to sustain a long-term initiative where internal ownership is important

Initiative justifies the expense Cost is a factor Project has defined boundaries or limits Follow-up and quick access is needed

Internal Consultant / ResearcherAdvantages

1. More acceptance by the department and employees2. Internal Consultants have a better understanding of the structure s, culture , and

functioning of the Organisation3. Involvement in the implementation of the recommendation and effective evaluation is

possible4. Cost effective

Disadvantages1. Internal team might become stereotyped and hesitant to look into fresh ideas2. More chance for under influence to distort and misinterpret facts.3. The management and staff may put less attention to the work of an internal team4. More vulnerable to organizational bias.

Internal Consultant / Researcher Advantages

1. Benefit from the wealth of experience2. Knowledge of advanced problem solving technique3. Less prove to under biases and influences4. Wide focus

Disadvantages1. High cost2. Take more time to comprehend the problem as well as the organization3. Charge extra fee for involvement in implementation of the recommendation and evaluation

The Building Blocks of Science in Research

1. Deduction2. Induction3. Hypothetico-Deductive Method

            

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The deduction and induction are two important aspects of the scientific research through which the

answers to a research question can be arrived at. Further details on deduction and induction are dealt

below;

Deduction

            Deduction is a process by which the researchers arrive at a reasoned conclusion by logical

generalization of a known fact. Deduction leads to conclusions, which should be necessarily based on

reasons. The reasons are said to imply the conclusions and represent a proof. The bond between the

reasons and conclusions is much stronger than in the case of induction. To be correct, a deduction

should be both valid and true. True in the sense that the reasons given for the conclusions must agree

with the real world. Valid means the conclusion must necessarily be arrived from the reasons.

            Researchers often use deduction to reason out the implication of various acts and conditions. For example in a survey a researcher may reason as follows:            Surveying households in urban area is difficult and expensive     (Reason 1)            The study involves interview with households in urban area        (Reason 2)            The interview in this survey will be difficult and expensive          (Conclusion)

Induction

            Induction is a process where certain phenomenon is observed on the basis of which

conclusions are arrived at. The conclusions are drawn from one or more facts or pieces of evidence.

The conclusions in induction result in hypotheses. Induction leads to establish a general proposition

based on observed facts. For example the researcher understand that production processes is the prime

feature of factories. It is therefore concluded that factories exist for production purposes.

Induction & Deduction in Business Research

Inductive reasoning involves the extrapolation of a theory from facts already in your possession. In business research, this form of thinking can play a very important role. Accurate forecasters of the economy are especially prized in the business world today. Being able to see trends before they happen is a vital skill. People who can see real patterns in seemingly disparate events and data are more likely to succeed and prosper in a competitive environment.

Induction

Induction is the standard principle by which the sciences work. An inductive reasoner observes and records a set of phenomena and then constructs a theory about what natural law those phenomena reveal. He then designs experimental tests to see if other observable phenomena confirm the theory. For example, an economist might observe that an apple seller who has raised the prices of his apples from 50 cents to $1 is selling fewer apples than he was before, and induce that there is a direct connection between higher prices and lower sales. Inductive reasoning, also known as induction or informally "bottom-up" logic, is a kind of reasoning that constructs or evaluates general propositions that are derived from specific

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examples. Inductive reasoning contrasts with deductive reasoning, in which specific examples are derived from general propositions.

Deduction

Deduction --- meaning "leading away from" --- is the method by which a reasoner describes phenomena based on a set of premises she already knows. For example, if a reasoner believes that higher prices are directly proportionate to smaller sales, she may deduce that doubling the price of an apple will cut sales in half. Strict logical deduction requires that the reasoner express her premises by means of a mathematical model, as this makes conclusions drawn from it both easier and more accurate. Deductive reasoning, also deductive logic or logical deduction or, informally, "top-down" logic,is the process of reasoning from one or more general statements (premises) to reach a logically certain conclusion.

Deductive reasoning links premises with conclusions. If all premises are true, the terms are clear, and the rules of deductive logic are followed, then the conclusion reached is necessarily true.

Deductive reasoning (top-down logic) contrasts with inductive reasoning (bottom-up logic) in the following way: In deductive reasoning, a conclusion is reached from general statements, but in inductive reasoning the conclusion is reached from specific examples

Actual Practice

. Most social research, however, involves both inductive and deductive reasoning throughout the research process. The scientific norm of logical reasoning provides a two-way bridge between theory and research. In practice, this typically involves alternating between deduction and induction.

A good example of this is the classic work of Emile Durkheim on suicide. When Durkheim pored over tables of official statistics on suicide rates in different areas, he noticed that Protestant countries consistently had higher suicide rates than Catholic ones. His initial observations led him to inductively create a theory of religion, social integration, anomie, and suicide. His theoretical interpretations in turn led him to deductively create more hypotheses and collect data.

The building blocks of scientific inquiry include the following sequences1. Observing a phenomena2. Identifying a problem3. Constructing a theory 4. Developing hypotheses5. Developing research design6. Collecting data7. Analyzing data and8. Interpreting results

Observation a phenomenon may be casual or purposeful. A casual scanning of the environment

may lead us to the knowledge of interesting facts. This observation may lead to identifying the

problem in the concerned area. The problem identification needs gathering of primary data form the

customers or from the employees or management concerned with the particular problem. Further

insights may be obtained to refine the problem in a more specific manner. The next step is to build a

conceptual model or theoretical framework taking into consideration all the factors contributing to the

problem. The framework enables to integrate all the information collected in a meaningful manner.

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From this theoretical framework several hypotheses can be generated and tested to support the

concept. A research design provides the blue print of the mechanism or insight regarding the methods

of collecting data, analyzing the same and interpreting them in order to solve the problem. The

building blocks of science discussed above provide the genesis for the hypothetico-deductive

method of scientific methods. The essential tenets of scientific research are: direct observation of

phenomena, clearly defined variables, methods and procedures, empirically testable hypotheses,

ability to rule out rival hypotheses, statistical justification of conclusions and self correcting process.

One of the primary methods of scientific investigation is the hypothetico-deductive method. The

method of starting with a theoretical framework, formulating hypotheses and logically deducing from

the results of the study is known as hypothetico-deductive method.

The steps are discussed below: 

1. Observation

            Observation is the first stage in scientific investigation. In this process, the researcher takes

into account the changes that are occurring in the environment. To proceed further the changes

observed in the environment should have important consequences.  The changes may be in the form

of sudden drop in the sales, increase in the employee turnover, decrease in the number of customer

and the like.

2. Preliminary information gathering

            This involves seeking in depth information regarding the facts being observed. The

information may be gathered through formal questionnaires, interview schedules or through informal

or causal talk with the concerned people. Desk research may also be conducted to enrich the

information gathered. The next step is to make sense out of the factors identified in the information

gathering stage by assembling them together in an meaningful manner.

3. Formulation of theory

            Theory formulation enables to integrate all the information in a logical manner so as to

conceptualize and test the factors responsible for problem. The critical variables contributing to the

problems are examined. The association or relationship among the variables contributing to the

problem is studied in order to formulate the theory.

4. Developing Hypotheses

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            The next logical step leads to framing of testable hypotheses. Hypotheses testing are called

deductive research. Sometimes it may so happen that the hypotheses, which are not originally

formulated, get generated through the process of induction. After the collection of data an insight may

occur based on which new hypotheses can be formulated. Thus hypotheses testing through deductive

research and hypotheses generation through induction are both common.

5. Scientific Data collection

            After the hypothesis is developed, the data with respect to each variable in the hypotheses

needs to be obtained in a scientific manner so as to test the hypotheses. The primary and secondary

sources can both be explored in order to collect the data. Data on every variable in the theoretical

framework from which the hypothesis is generated should be collected.

6. Data Analysis

            The data gathered are to be statistically analyzed to validate the hypothesis postulated. Both

qualitative and quantitative data needs to be analyzed. Qualitative data refer to information gathered

through interviews and observations. Through scaling techniques the qualitative data can be converted

into quantifiable form and subjected to analysis. Appropriate statistical tool should be used to analyze

the data.

The Case Study as a Research Method Case study research excels at bringing us to an understanding of a complex issue or object and can extend experience or add strength to what is already known through previous research. Case studies emphasize detailed contextual analysis of a limited number of events or conditions and their relationships. Researchers have used the case study research method for many years across a variety of disciplines. Social scientists, in particular, have made wide use of this qualitative research method to examine contemporary real-life situations and provide the basis for the application of ideas and extension of methods. Researcher Robert K. Yin defines the case study research method as an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used (Yin, 1984, p. 23).

Critics of the case study method believe that the study of a small number of cases can offer no grounds for establishing reliability or generality of findings. Others feel that the intense exposure to study of the case biases the findings. Some dismiss case study research as useful only as an exploratory tool. Yet researchers continue to use the case study research method with success in carefully planned and crafted studies of real-life situations, issues, and problems. Reports on case studies from many disciplines are widely available in the literature.

Many well-known case study researchers such as Robert E. Stake, Helen Simons, and Robert K. Yin have written about case study research and suggested techniques for organizing and conducting the research successfully. This introduction to case study research draws upon their work and proposes six steps that should be used:

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Determine and define the research questions Select the cases and determine data gathering and analysis techniques Prepare to collect the data Collect data in the field Evaluate and analyze the data Prepare the report

The Case Study As A Business Research Method

Nowadays research methodologies have been intensively changed and adapted. Case study is a method used by researchers to excel at bringing an understanding of the complex issue and can extend experience or add strength to what already known through previous research. In this paper, we discuss the use of case study method, its application, data collection and analysis together with ethical consideration of case study as a research method in business area. Also the result and discussion of the Survey of Case Study As A Business Research Method in Thailand conducted during September to December 2005 are presented.

Case studies typically examine the interplay among variables to provide comprehensive understanding through a thick description process which in-depth describes the entity, circumstances and characteristics being evaluated. Business researcher prefers case study when how and why questions are asked and may choose to collect data from one or multi-modal approach. New key factors may emerge or unexpected patterns are found and these may become the basis for new questions which link to the further business research. To make sense of the qualitative data from case study, holistic and coding analyses are employed to draw conclusion from text as a whole. Despite the difficulty test for validity of case study statistical analysis result, case study approach allows flexibility for researchers to compare their firsthand observations with the quantitative results obtained from other research methods and establish a bridge for the gap between abstract research and concrete practice research. Certain ethical issues should be considered for case study, for example, the bias of the result induced through the power of the financed persons, and this may conflict the credibility of the research study.

Case study can be applied either in marketing and any other business arena. In Thailand, case study has been used within the limitation of the scarce availability of case study. To confirm this hypothesis and to find out more facts, the survey of case study has been carried during September to December 2005.Questionnaires concerning about the use of case study as a business research method had been sent out to a group of Thai researchers during the mentioned time interval and the significant results from the statistical analysis found that less than fifty percent of these samples had used case study as the research method with the reason of the unavailability of proper case studies. However more than half of the samples said they expect to use case study more and more in their future research. The results of the survey bring the awareness of the business case writing and the expansion of utilizing of the case study as a tool of business research in Thailand and thus enhance the using of case study as a research tool which will result the academic progress in case study as a business research method afterwards.

Research cases: Points to Remember

– In exploratory research – to discover– In explanatory research – to test, to explain, or to compare

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The purpose of case study research in business and management is to use empirical evidence from real people in real organizations to make an original contribution to knowledge

The term ‘case study’ has multiple meanings. It can be used to describe a detailed study of a single social unit (e.g. a case study of a particular organization) or to describe a research method.

Yin defines a case study as an empirical enquiry that:– investigates a contemporary phenomenon within its real-life context,

especially when – the boundaries between phenomenon and context are not clearly evident"

Yin’s approach to case study research is basically positivist, since he recommends the use of hypotheses and/or propositions

In business and management, case study research almost always involves a firm or organization

Case study research is the most popular qualitative research method used in the business disciplines

Case study research allows researchers to explore or test theories within the context of messy real-life situations

A disadvantage of case study research is that it can be difficult to gain access to the particular company or group of companies that you want to study

Another disadvantage is that the researcher has no control over the situation Case study research can be time consuming

Business Schools use case studies

Case Studies to Assess Business Situations

A case study is a detailed account of a company, industry, person, or project over a given amount of time. The content within a case study may include information about company objectives, strategies, challenges, results, recommendations, and more. A business school case study may be brief or extensive, and may range from two pages to 30 pages or more. Business school case studies are usually written specifically for instructional use. Harvard, Stanford, and many other business schools use the case study method within their curriculum. Did you know that the case method used extensively at business schools, and in particular, at the Harvard Business School, was originally introduced around 1910? It has been an established instructional method for a century.The case method also presents a situation or problem space, and need not be taken from real life. However, it does not tell the learners "what was done", and neither does it provide any solutions at all. It is up to the learners to generate possible solutions that might fit the case facts.

Why Case Studies in MBA program.

Business Schools use case studies to teach students how to assess business situations and make decisions based upon those assessments. Students may work with as many as 800 case studies during a two-year MBA program.

The case method is a teaching approach that consists in presenting the students with a case, putting them in the role of a decision maker facing a

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problem. The case method overlaps with the case study method, but the two are not identical. The case method is a teaching method that is largely used in business schools. For instance, it has been used at the Harvard Business School since its founding in 1908 and at the Richard Ivey School of Business since 1921. It is also used in some public policy schools, such as the John F. Kennedy School of Government at Harvard University

"The case method of analysis involves studying actual business situations, written as an in-depth presentation of a company, its market, and its strategic decisions, in order to improve a manager's or a student's problem-solving ability. Cases typically investigate a contemporary issue in a real-life context. There are multiple issues to consider and many 'correct' or viable alternatives to solve the case issues are presented.""The term case studies can be ambiguous: it can mean specific examples from real companies or fictitious stories written to help students learn a topic." The resources mentioned in this guide provide a mix of both types of case studies.

A case study (also known as a case report) is an intensive analysis of an individual unit (e.g., a person, group, or event) stressing developmental factors in relation to context. The case study is common in social sciences and life sciences. Case studies may be descriptive or explanatory. The latter type is used to explore causation in order to find underlying principles. They may be prospective (in which criteria are established and cases fitting the criteria are included as they become available) or retrospective (in which criteria are established for selecting cases from historical records for inclusion in the study).

Thomas offers the following definition of case study: "Case studies are analyses of persons, events, decisions, periods, projects, policies, institutions, or other systems that are studied holistically by one or more methods. The case that is the subject of the inquiry will be an instance of a class of phenomena that provides an analytical frame — an object — within which the study is conducted and which the case illuminates and explicates."

The case study method of teaching is sometimes mistaken for the case method, but the two are not the same.

Case Study As A Research Strategy

Another suggestion is that case study should be defined as a research strategy, an empirical inquiry that investigates a phenomenon within its real-life context. Case study research can mean single and multiple case studies, can include quantitative evidence, relies on multiple sources of evidence, and benefits from the prior development of theoretical propositions. Case studies should not be confused with qualitative research and they can be based on any mix of quantitative and qualitative evidence. Single-subject research provides the statistical framework for making inferences from quantitative case-study data. This is also supported and well-formulated in (Lamnek, 2005): "The case study is a research approach, situated between concrete data taking techniques and methodologic paradigms."

Rather than using samples and following a rigid protocol (strict set of rules) to examine limited number of variables, case study methods involve an in-depth, longitudinal (over a long period of time) examination of a single instance or event: a case. They provide a systematic way of looking at events, collecting data, analyzing information, and reporting the results. As a result the researcher may gain a sharpened understanding of why the instance happened as it did, and what might become important to look at more extensively in future research. Case studies lend themselves to both generating and testing hypotheses.

Difference between the case method and a case study?

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While the case study and the case method are often confused and the terms used interchangeably, they actually are not the same thing. The difference becomes critical when considered in terms of learning.

A case study is a story about a situation or event that contains a problem or issue, usually a real situation. The case study usually contains information about the problem PLUS information about how the situation was addressed, and the results of the actions taken to solve the problem. For example, one might use a case study from Apple computers pertaining to leadership by describing the problems Apple faced with their original leadership, then discuss what was done (hiring a new CEO, Scully) to the results.

After reading the case study, learners might be asked to analyse the case, in essence, after the fact.

Business Research Topics

1. General Business Conditions and Corporate Research2. Financial and Accounting Research3. Management and Organizational Behavior Research4. Sales and Marketing Research5. Information Systems Research6. Corporate Responsibility Research

Major Areas of Research in Business

A. Marketing Area

1. Consumer Behaviour ,Loyalty2. Product positioning ,product development, product life cycle3. Branding, Brand equity4. Market Segmentation and Targeting5. Advertising , sales Promotion6. Sales , Distribution etc

A marketing research plan will contain data collected in four key areas for a product or service. An easy acronym for this is the SWAT analysis. S- situation in the marketplace, including perceived customer needs and competition. W- what are your products key attributes that differentiate it from the competition or meet customers unmet needs A- assess how you can promote the product based on budget, marketplace, and the products attributes. T-tools you will use, including, price, promotion, packaging, and testing for success

B. Operational Area Operations Management are involved with research on many topics and at many levels. The topics include basic research in operations management as well as work in applications directly relevant to contemporary business issues. Examples of research areas include:

1. supply chain design and control,2. inventory management, 3. production scheduling, 4. product development, 5. design of services,6. industrial contracting,7. dynamic pricing,

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8. industrial risk management,9. logistics, 10. manufacturing and supply-chain strategy,11. total quality management ...

C. Human Recourse Area1. Learning And Change In Organisations 2. The Psychological Contract In Small Businesses 3. The Way Employment Institutions Shape Labour Markets And Strategies For

Human Resource Management4. Forms Of Collectivism 5. Community Unionism And Partnership Arrangements 6. Social Inclusion And Participation - Especially The Effects Of Redundancy On

Black And Minority-Ethnic Workers And Trade Unions7. Manpower Planning8. Performance And Potential Appraisal9. Training And Development10. Leadership11. Stress Management12. Compensation Management

D. Finance area1. Portfolio Management (Institutional Managed Portfolios,2. Mutual Funds3. Corporate Governance,4. Corporate Finance.5. Asset Pricing,6. Household Finance, 7. Real Estate Finance, 8. Market Microstructure,9. Fixed Income,10. International Finance11. Working Capital Management12. Risk Management and Investment Decisions

E. General Management area

Business Research in the 21st Century

• Increased globalization• Growth of the Internet and other information technologies• Business Research is increasingly global• Market knowledge is essential• A.C. Nielsen - more that 67% international business• General information about country - economic conditions and political climate• Cultural and consumer factors• Market and competitive conditions - demand estimation• The Internet Is Transforming Society• Time is collapsing. • Distance is no longer an obstacle. • Crossing oceans is only a mouse click away. • People are connected 24 hours a day, seven days a week. • "Instantaneous" has a new meaning

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• Internet Research-Seeking facts and figures about an issue • Surveys on Web sites

UNIT 2

1. Research Process: Chart2. Types of research3. Explorative Research and Qualitative Analysis4. Descriptive Research5. Observation Research6. Experimental Research7. Hypothesis Testing Research8. Causal Research 9. Survey Research10. Longitudinal study vs. Cross-sectional Research

11. Research Design12. Research Topic13. Research Problem14. Research Questions15. Research Objectives16. Research Hypotheses17. Role of Theory (Theoretical Framework)

18. Literature Survey19. Research Project

20. Aims and Objectives of a Dissertation

21. Planning a Research Project22. Sample Project23. Kerala University Project Report Format 24. Gantt Chart

Overview of the Research Process

There are four major stages in the process of completing a research project for a term paper. Each stage involves the completion of certain important tasks. Reviewing these stages now will help you to maintain control over your project. It will help you to plan your schedule, anticipate your needs, and solve potential problems.

Stage One: Choosing a Topic

Review your assignment. Make sure you understand the requirements. Select a broad subject area. This will probably be dictated by the content of the class. Find an idea concerning that subject area that sparks your interest. Identify and read some background material. Use what you find to help focus your research

on a specific topic. Construct a research question that you wish to answer.

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Stage Two: Developing a Research Proposal

Using your research question, develop a preliminary research strategy. Use your strategy to identify sources of information. Gather your sources and read them. Take

notes. Write down questions that your reading has raised in your mind. Use what you have learned to refine your search strategy and gather more information. As

you work your way through this stage, you may sometimes feel frustrated or overwhelmed. This is normal, so don't give up. If you persist, the project will begin to take shape, and become more manageable.

Using the information that you have found, draft a research proposal.

Stage Three: Completing Your Research

Once you have your proposal written, you should have a good idea about where you want the project to go. Continue gathering information, reading, and refining your search.

Have you:

o Identified the prominent authorities and prevailing schools of thought on your topic? o Identified issues and relationships within the topic? o Found articles reflecting current research and thought on the topic?

Using what you have learned, draft a thesis statement and list the major points that you wish to cover.

Go back over your sources and evaluate them critically. Consider the author's point of view, and degree of expertise. Use what you have learned to place each article in context.

Organize your reference list. Make an outline and begin writing a first draft. What questions do you still need to answer?

Stage Four: Writing and Refining

Complete your first draft. Read it through. o Are there still any ends dangling? o Can you rearrange your material to present it more effectively? o Have you stated your thesis clearly? Do your ideas flow smoothly? o Does your information adequately support your thesis? o Is your argument unified and cohesive? o Have you addressed all the central issues of your topic? o Does your paper examine current research on the topic?

Begin another draft. You may need to collect some more information, to fill gaps that you have found in writing your first draft. When you have finished, read through and ask yourself the same questions. You may need to rewrite several times before you are satisfied with the final draft. This can be frustrating, but it is normal. Your paper will get better each time you revise it.

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Research process Chart

Why Is the Business Research Process Necessary to Assist Managers?

Research is synonymous with market research, but companies typically use every type of market research available to fully analyze their business situation: industry analysis, product research, and even identifying key customer groups. The business research process is necessary to assist managers in making major business decisions.

Defining Business Objective

Before a business can start operating, it first must define its business. For example, a new discount health-care company may define its objective as providing affordable health care to individuals and families. After a company defines its main objective, it then is ready to study the industry and competition. The process of defining a business objective is necessary for managers to properly align their business plans with the right customers.

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Data Collection

Companies usually start the data collection process by studying secondary research data. Some of this information may be available in business articles or at local libraries. A company often will need to purchase this data from vendors. Businesses can acquire information through secondary research about the size of their industry and how sales have trended. The second part of data collection entails primary research surveys. Companies do research surveys to measure satisfaction among customers, to ensure that the customer's needs are being met with current products and to identify consumers that are most likely to use their products.

Analysis

Marketing managers and other business professionals analyze data so they fully understand where they stand versus competitors in sales volume and market share. A company may also learn more about its key strengths and weaknesses versus competitors. For example, secondary research may reveal that a key competitor is on the verge of merging with another company. Another competitor may be suffering financially. Additionally, analyzing primary research can help a company understand how it fares against competitors in product quality, service, price and value. Customers also may want additional features added to the company's products. The ultimate goal of the analysis stage is to start developing some relevant choices or alternatives.

Alternatives

After fully analyzing all available data, business managers usually will list possible alternatives for harnessing strengths and overcoming weaknesses. These alternatives eventually will need to be winnowed down to one viable solution or alternative. The goal of this solution will be to better satisfy key customers, increase distribution or whatever it takes to improve the company's sales and profits.

Decision Making

Ultimately, the business research process will lead to certain company decisions or strategies. The savvy business man knows that he can learn a lot from business research. However, he must also use it to avoid being outmaneuvered by competitors on important issues such as service and product features. For example, a company may revamp its customer service department to deal with low customer satisfaction scores revealed in the research. New product features may be added to satisfy the sector of the market that requested them.

Types of Business Research :

Every business undertakes research so that it can take right decisions at the right time. No matter what kind of business you are in, you are expected to find out something out there that impacts running of your business. Here are different types of business research you will have to do at some stage in your business career:

1. Exploratory: This type of research arises when you are entering into un-chartered area. A pretty good example is when you are asked to explore the possibility of opening a branch of your company abroad. At present you have no research findings with you. Neither you are familiar with the territory. So you begin to work from general point to a specific focus of your company. You have to marshal facts from many sources, collate these and familiarize with the situation there. Thorny issue must be identified and you need to find out every angle of opening a branch in terms of qualitative and quantitative data. Afterwards, you develop

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hypotheses that can be tested. Sometimes it so happens that you find opening such a branch is just no-go

Exploratory Phase of Business Research

1. Research is essential for any business to thrive and grow. This way, the company can determine which products are in demand and if it will be able to manufacture them. Also, it is able to understand consumer tastes and preferences better when it has a research mechanism in place. Companies use exploratory research to identify problems in their processes and practices. Companies use exploratory research to nip potential problems in the bud. Exploratory Research Mechanism

o With exploratory research, the ultimate aim and solution are never known. The company does not have a definite idea of the outcome of the research process.

This research is used to identify the existing bottlenecks in the company. Then management sits down and seeks clarification on the issues. Once this is done, management sits down and begins eliminating all of the infeasible and impractical ideas. Only those ideas that seem reasonable and viable are adopted by the company, and all others are discarded.

The management then determines the hypothesis of all the accepted research plans

Mode of Research

o For exploratory research, the company uses many sources. It relies on the data that are already published and furnished. It studies magazines and journals for prior published information and conducts research over the Internet. It also examines the company's past financial statements and publications. Moreover, the company interacts with its ultimate consumers, by conducting surveys, focus groups, interviews or simply making observations of their buying behavior. The ultimate emphasis is to understand the customer better.

Nature of Exploratory Research

o The exploratory research mechanism is flexible. Modifications can be made to the process at any point in time. This research never provides the company with absolute figure and quantities. It is aimed at identifying the causes for different scenarios. This allows companies to recognize why a particular incident occurred. However, exploratory research cannot answer whether or not it will occur again.

New Discoveries

o Exploratory research often unravels newer problems and prospects along the way. Through this process, the company may be apprised of new functionalities that its assets possess. With this information, the company can use its assets to their most productive best. Alternatively, the company may have started the research to find out the shortcomings in one system and uncovered four more flaws in the process.

Topic “ Peak Performance of Championship Sports Organisation”

2. Descriptive:

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Most business research harp on describing the facts as it is. A good example is to see how your present business location helps in developing your business. You identify variables and rank these in order of their importance in impacting your business growth. You cannot leave a single stone un-turned. After listing every conceivable variable you file up your report. At the risk of repetition, I must state that these variables are known and exist as it is. What differs is your ranking of the facts and/or level of their impact. Since there is no originality involved we often call this research as “Ex Post Facto” Descriptive research is concerned with the description of data and characteristics about a population. The goal is the acquisition of factual, accurate and systematic data that can be used in averages, frequencies and similar statistical calculations. Descriptive studies seldom involve experimentation, as they are more concerned with naturally occurring phenomena than with the observation of controlled situations.

The Five Ws

Descriptive research is concerned with the description of the existing distribution of variables, as opposed to theory building. Or, in plain language, descriptive studies focus on answering the basic W questions: Who, what, when, where. The fifth W, "why" falls outside of the scope of descriptive research, that by definition must not concern itself with the effect that one variable has on another.

Descriptive Methods

There are many tools available to the researcher interested in descriptive studies. Case studies can provide a detailed analysis of a single person or event, while case series can aggregate multiple cases in a single report. In medical research, prevalence studies describe the health of populations, while social scientist can rely on a mix of observation and ethnography if they are careful not to affect the phenomenon under observation. Archival research, based on analysis of preexisting records and data, can be used to study subjects where fieldwork is not practical

Topics

1. A study on sales, pricing, distribution and advertising strategy for product2. The characteristics of a group of employees (age, education, level, jobstatus, and

length of service of Cochin Refinery”3. The sex composition and age – grouping and employment of Households in Wyanad

3. Observation Research Method

In marketing and the social sciences, observational research (or field research) is a social research technique that involves the direct observation of phenomena in their natural setting. This differentiates it from experimental research in which a quasi-artificial environment is created to control for spurious factors, and where at least one of the variables is manipulated as part of the experiment. In marketing research, the most frequently used types of observational techniques are:

Personal observation o observing products in use to detect usage patterns and problemso observing license plates in store parking lots

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o determining the socio-economic status of shopperso determining the level of package scrutinyo determining the time it takes to make a purchase decision

Mechanical observation o eye-tracking analysis while subjects watch advertisements

oculometers - what the subject is looking at pupilometers - how interested is the viewer

o electronic checkout scanners - records purchase behaviouro on-site cameras in storeso Nielsen box for tracking television station watchingo voice pitch meters - measures emotional reactionso psychogalvanometer - measures galvanic skin response

Audits o retail audits to determine the quality of service in storeso inventory audits to determine product acceptanceo shelf space audits

Trace Analysis o credit card recordso computer cookie recordso garbology - looking for traces of purchase patterns in garbageo detecting store traffic patterns by observing the wear in the floor (long term) or the

dirt on the floor (short term)o exposure to advertisements

Content analysis o observe the content of magazines, television broadcasts, radio broadcasts, or

newspapers, either articles, programs, or advertisements

Topic

“ Adults Report not washing their hands when they should and more people claim to wash their hands than they actually Do”

4. Experimental method of Marketing Research

Experimental research designs are used for the controlled testing of causal processes. The general procedure is one or more independent variables are manipulated to determine their effect on a dependent variable. These designs can be used where: 1) There is time priority in a causal relationship (cause proceeds effect), 2) There is consistency in a causal relationship (a cause will always lead to the same effect), and 3) The magnitude of the correlation is great. The most common applications of these designs in marketing research and experimental economics are test markets and purchase labs. The techniques are commonly used in other social sciences including sociology and psychology.

Controls

One of the most important requirements of experimental research designs is the necessity of eliminating the effects of spurious, intervening, and antecedent variables. In the most basic model, cause (X) leads to effect (Y). But there could be a third variable (Z) that influences (Y), and X might not be the true cause at all. Z is said to be a spurious variable and must be controlled for. The same is true for intervening variables (a variable in between the supposed cause (X) and the effect (Y)), and anteceding variables (a variable prior to the supposed cause (X) that is the true cause). When a third variable is involved and has not been controlled for,

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the relation is said to be a zero order relationship. In most practical applications of experimental research designs there are several causes (X1,X2,X3). In most designs only one of these causes is manipulated at a time.

Purchase laboratory

A true experimental design requires an artificial environment so as to control for all spurious, intervening, and antecedent variables. A purchase laboratory approaches this ideal. Participants are given money, script, or credit to purchase products in a simulated store. Researchers modify one variable at a time (for example; price, packaging, shelf location, size, or competitors’ offerings) and determine what effect that has on sales volume. Internet based purchase labs (called virtual purchase labs) are becoming more common.

Test markets

Quasi-experimental designs control some, but not all, of the extraneous factors. A test market is an example of this. A new product is typically introduced in a select number of cities. These cities must be representative of the overall national (or international) population. They should also be relatively unpolluted by outside influences (for example : media from other cities). The marketer has some control over the marketing mix variables, but almost no control over the broader business environment variables. Competitors could change their prices during the test. Government could change the level of taxes. New competing products could be introduced. An advertising campaign could be initiated by competitors. Any of these spurious variables could contaminate the test market.

Experimental research designs

In an attempt to control for extraneous factors, several experimental research designs have been developed, including:

Classical pretest-post test - The total population of participants is randomly divided into two samples; the control sample, and the experimental sample. Only the experimental sample is exposed to the manipulated variable. The researcher compares the pretest results with the post test results for both samples. Any divergence between the two samples is assumed to be a result of the experiment.

Solomon four group design - The population is randomly divided into four samples. Two of the groups are experimental samples. Two groups experience no experimental manipulation of variables. Two groups receive a pretest and a post test. Two groups receive only a post test. This is an improvement over the classical design because it controls for the effect of the pretest.

Factorial design - this is similar to a classical design except additional samples are used. Each group is exposed to a different experimental manipulation.

5. Hypothesis-testing research studies, also known as experimental studies

In hypothesis-testing research studies, also known as experimental studies, the researcher generally tests the hypotheses of causal relationships among variables. Besides, such type of studies needs those kinds of procedures, which will not only reduce the bias and increase reliability, but will also approve the drawing inferences about causality. Hence, when

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we discuss about the research design in such studies, we usually mean the experimental designs.

Experimental designs were discovered and developed by Professor R. A. Fisher, who was working at the Rothamsted Experimental Station, at the Centre for Agricultural Research in England. In fact, the study of experimental designs originated in agricultural research. Professor Fisher divided the agricultural fields/plots into different blocks and conducted experiments in each of them. Consequently, whatever information was collected from this, he found them to be very reliable. In this way, he was inspired to develop certain experimental designs to test the hypotheses about scientific investigations. In recent time, the experimental designs are being used in researches related to phenomena of several disciplines. Besides, since experimental designs originated in the context of agricultural operations, we still use, although in a technical sense, several agricultural terms, such as, treatment, yield, plot, block, etc., in the experimental designs.

Topic “ Does colour cause preferences’ ?

6. Causal Research

Research that involves finding the effect of one thing on another or the effect of one variable on another, is called Causal Research. To conduct this type of research, one must hold one variable (the one that is suspected to cause the change in the other variables) constant so the other variables can be measured. It is a type of research that is complex in nature since it’s difficult to know for certain the cause of the change, especially when dealing with consumer’s attitudes and motivations, as would be the case in a market research context.

To conduct this type of research one needs to establish a purpose in the research, ask a question (what one needs to know and form a hypothesis - what one expects the outcome to be). Examples of a purpose, a question, and a hypothesis are listed below, for particular scenarios in a market research context.

Scenario OnePurpose: The purpose is to find out which ad program for the lower calorie bread should be run.

Question: What would cause consumers to switch to a lower calorie bread?Hypothesis: The ad with the Olympic swimmers at the pool and the coupon offer, should be run.

Scenario Two Purpose: The purpose is to find out if the company logo should be updated.

Question: Will a new logo give us the image we are looking for?Hypothesis: The new logo will cause us to be perceived as more contemporary.

7. Survey Research

A method of sociological investigation that uses question based or statistical surveys to collect information about how people think and act. For example, a possible application of survey research to a business context might involve looking at how effective mass media is in helping form and shift public opinion. Survey research is one of the most important areas of measurement in applied social research. The broad area of survey research encompasses any measurement procedures

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that involve asking questions of respondents. A "survey" can be anything form a short paper-and-pencil feedback form to an intensive one-on-one in-depth interview.

Survey research is often used to assess thoughts, opinions, and feelings. Survey research can be specific and limited, or it can have more global, widespread goals. Today, survey research is used by a variety of different groups. Psychologists and sociologists often use survey research to analyze behavior, while it is also used to meet the more pragmatic needs of the media, such as, in evaluating political candidates, public health officials, professional organization, and advertising and marketing directors. A survey consists of a predetermined set of questions that is given to a sample. With a representative sample, that is, one that is representative of the larger population of interest, one can describe the attitudes of the population from which the sample was drawn. Further, one can compare the attitudes of different populations as well as look for changes in attitudes over time. A good sample selection is key as it allows one to generalize the findings from the sample to the population, which is the whole purpose of survey research.

8. Longitudinal study vs. Cross-sectional Research

A longitudinal study is a correlational research study that involves repeated observations of the same variables over long periods of time — often many decades. It is a type of observational study. Longitudinal studies are often used in psychology to study developmental trends across the life span, and in sociology to study life events throughout lifetimes or generations. The reason for this is that unlike cross-sectional studies, in which different individuals with same characteristics are compared, longitudinal studies track the same people, and therefore the differences observed in those people are less likely to be the result of cultural differences across generations. Because of this benefit, longitudinal studies make observing changes more accurate, and they are applied in various other fields. In medicine, the design is used to uncover predictors of certain diseases. In advertising, the design is used to identify the changes that advertising has produced in the attitudes and behaviors of those within the target audience who have seen the advertising campaign.

Cross-sectional studies (also known as cross-sectional analyses, transversal studies, prevalence study) form a class of research methods that involve observation of all of a population, or a representative subset, at one specific point in time. They differ from case-control studies in that they aim to provide data on the entire population under study, whereas case-control studies typically include only individuals with a specific characteristic, with a sample, often a tiny minority, of the rest of the population. Cross-sectional research is a research method often used in developmental psychology, but also utilized in many other areas including social science and education. This type of study utilizes different groups of people who differ in the variable of interest, but share other characteristics such as socioeconomic status, educational background, and ethnicity

Research Design

According to David J Luck and Ronald S Rubin, “A research design is the determination and statement of the general research approach or strategy adopted for the particular project. It is the heart of planning. If the design adheres to the research objective, it will ensure that the client’s needs will be served. According to Kerlinger, “Research in the plan, structure and strategy of investigation conceived so as to obtain answers to research questions and to control variance. According to Green and Tull, “ A research design is the specification of methods and procedures for acquiring the information needed. It is the over-all operational pattern or framework of the project that stipulates what information is to be collected from which source by what procedures.

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Importance/utility of research designResearch design is important as it prepares proper framework within which the research work/activity will be actually carried out. Research design acts as a blue print for the conduct of the whole.

Types of Research design:On the basis of information to be collected, research designs can be classified into the following three categories:a) Exploratory researchb) Descriptive researchc) Casual research

Deciding on Your Research Design(Research Strategy)

1. Returning to your research question(s) and objectives2. Which strategy (design) is most appropriate to your research question(s) and

objectives?3. Go for literature survey that are similar to your own4. List all threats to reliability and validity in your research findings

Research Topic/Issue

A topic is what the essay or research paper is about. It provides a focus for the writing. Of course, the major topic can be broken down into its components or smaller pieces (e.g., the major topic of nuclear waste disposal may be broken down into medical, economic, and environmental concerns). But the important thing to remember is that you should stick with just one major topic per essay or research paper in order to have a coherent piece of writing.

An issue is a concept upon which you can take a stand. While "nuclear waste" is a topic, "safe and economic disposal of nuclear waste" is an issue, or a "point of discussion, debate, or dispute" (American Heritage Dictionary).

Topic Selection

The first step of the research process involves selecting a research topic and writing your dissertation proposal. This means that you need to do a great deal of reading and clear thinking to identify the problem and your area of interest. This unit deals with choosing a topic for research and gives guidance on writing your dissertation proposal or synopsis.

Choosing The Topic

When embarking upon research as a part of management study programme, it is important that particular attention is paid to the choice of subject or topic of the research. The choice of topic usually comes from your interest in and value of a particular subject. This interest and value will eventually be developed into a series of questions which you are keen to find answers to. If you are finding difficulty in choosing a reasonable topic, you can consider the following:

1. Consult the library catalogue and inquire about these and dissertations, articles in a academic journals, reports, books and the like

2. Talk about problems and possible topics with your colleagues and/or with your lectures who are experts in the field.

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3. Arrange an informal interview with professionals in the industry and discuss what you should emphasize and what the possible practical outcomes are.

Ask the following 8 questions to evaluate the quality of your research question and the ease with which you should be able to answer it:

1. Does the question deal with a topic or issue that interests me enough to spark my own thoughts and opinions?2. Is the question easily and fully researchable?3. What type of information do I need to answer the research question?E.g., The research question, "What impact has deregulation had on commercial airline safety?," will obviously require certain types of information:

I. statistics on airline crashes before and afterII. statistics on other safety problems before and after

III. information about maintenance practices before and afterIV. information about government safety requirements before and after

4. Is the scope of this information reasonable (e.g., can I really research 30 online writing programs developed over a span of 10 years?) 5. Given the type and scope of the information that I need, is my question too broad, too narrow, or okay? 6. What sources will have the type of information that I need to answer the research question (journals, books, Internet resources, government documents, people)? 7. Can I access these sources? 8. Given my answers to the above questions, do I have a good quality research question that I actually will be able to answer by doing research?

There are number of criteria that need to be considered when deciding on your research topic. These are summarized below:

1. A dissertation topic should be realistic: You need to identify a problem (supported by6 published materials), investigate the causes and possible solution. You might wish to investigate a problem on site, for example the cause of variation orders and its effects on the project outcome, or the problem of materials management on site. Alternately the research subject might cover and office procedure or the appraisal of a particular system. Here you will be investigating what should be done and what is actually done.

2. Your topic should be specific and narrow: For example if you are conducting a detailed case study do not investigate all the factors that may influence site productivity as a topic but rather the influence of financial incentives on productivity. You might be tempted to study job satisfaction in the building industry, but this again is too broad. A better way is too broad. A better way is to narrow it down and investigate job satisfaction of operative who are working for small- size firms.

3. Your topic should show individuality, i.e., your personal contribution to the study: What is new about your investigation? This can take the form of case studies, a series of interviews, postal questionnaires or analyzing archival data.

4. Accessibility of information: Your topic should be in an area where you have access to the necessary data for the successful completion of the dissertation.

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5. Personal ability: The subject and extent of the research should be within your intellectual and physical resource ability.

6. Personal interest: You should be interested in the subject of research.

Research problem

A Practical Problem

Suppose you're walking along a street one day when a practical problem confronts you. A quick solution to the problem doesn't come to mind. Your search for a solution to the problem motivates you to look further into the topic in hopes of resolving the problem. You may not have thought of it this way before, but research usually grows out of a practical problem facing someone in the real world.

To solve your practical problem, you first have to think up a relevant research problem about the topic and then solve that research problem. Learning the answer to the research problem will let you understand how to resolve the practical problem.

Practical vs. Research Problem

Someone once put it this round-robin way:

Thinking about a practical problem motivates a research question which defines a research problem which finds a research answer which helps to solve the practical problem.

At first glance, you may think that the difference between a practical problem and a research problem is like splitting a hair. However, the difference is crucial. A practical problem happens in the real world. It costs you something in time, money, happiness, etc. You'll solve that problem by doing something to change something out there in the real world.

Research Problem Defined

A research problem is some difficulty either of a theoretical or practical nature which an individual or organization faces and wishes to obtain a solution for the same .A research problem must contain the following:

a. An individual or an organization which has the problem.b. They must occupy some environment/condition to which the difficulty pertains.c. Some objectives/alternatives goal to be attained.d. Some alternatives course of action through which these objectives can be attained.e. Research must have some doubts regarding the selection of possible alternatives.

The Importance of Properly Defining the Problem

1. Properly defining the problem is the most important step in the marketing research process.2. If the wrong problem is defined, all the remaining steps in the marketing research process are

wrong.3. Two sources of problems: A problem exists when a gap exists between what was supposed to

happen and what did happen, i.e., failure to meet an objective.

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4. An opportunity occurs when there is a gap between what did happen and what could have happened…called an opportunity.

How to write your Research Problem Statement : Practical Example

Your Research Problem statement is the foundation and focus of your research report. It is a clear,stand‐alone statement that makes explicit what it is you are aiming to discover or establish. Get thisright and you are setting yourself up for success. If your Research Problem is poorly worded, unfocused or ambiguous, the rest of your research is likely to go off‐track very early; you will do a great deal of unnecessary reading and writing, losing sight of the big picture (and probably your mind!).

Writing your Research Problem Statement

1. First select your research topic, which is the issue or subject area that you intend to investigate2. Describe the business or management problem based on your topic that you intend toresearch. Do this right at the beginning of your research proposal or report as laid out in thetemplates (remember to reference any facts that you are basing your research on). This willset the scene for your Research Problem statement, so that you can write a clear, stand aloneResearch Problem.

3. A Research Problem is not the same as a business problem, ie it is not a “problem” in thenormal sense of the word; it is research jargon that happens to be a bit confusing. You canthink of your Research Problem as the unknown part of your business problem.

.4. If your Research Problem contains two or more concepts / ideas, then break it down into subproblems, so that each sub‐problem consists of one idea only. Each sub‐problem shouldcontain key words that you can use in your literature search (using the electronic librarydatabases and Google Scholar) on that sub‐problem.5. Your Research Problem statement should be your sub‐problems added together – no moreand no less. Do not introduce any new ideas when you write your sub‐problems. For example:The Main problem is to

Analyse and evaluate the role of entrepreneurship in the establishment of small,medium and micro enterprises (SMMEs) and ascertain the value of the economic contributions of these firms in emerging markets.Sub‐problem 1 Analyse and evaluate the role of entrepreneurship in establishing SMMEs in emerging markets. (Here your key search terms for your literature review could be“entrepreneurship”, “SMME” and “emerging markets”)

Sub‐problem 2 Evaluate the economic contribution of SMMEs to growth and development in emerging markets. (Here your search terms could be “economic contribution”,“economic growth”, “emerging market development”)Your literature review would be likely to have headings similar or related to the search terms,as well as other topic areas that you find and are relevant but that you may not haveanticipated – in fact you will find a lot of information and related topics that you won’t (andcannot be expected to) have anticipated. Use the search terms both alone and combined with each other. You won’t find many articles on exactly your own research problem (that’s why you areresearching it), so your literature review will be on topics broader than, but encompassing yourspecific problem.

Research Question

It's absolutely essential to develop a research question that you're interested in or

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care about in order to focus your research and your paper (unless, of course, your instructor gives you a very specific assignment). For example, researching a broad topic such as "business management" is difficult since there may be hundreds of sources on all aspects of business management. On the other hand, a focused question such as "What are the pros and cons of Japanese management style?" is easier to research and can be covered more fully and in more depth.

How do you develop a usable research question? Choose an appropriate topic or issue for your research, one that actually can be researched. Then list all of the questions that you'd like answered yourself. Choose the best question, one that is neither too broad nor too narrow. Sometimes the number of sources you find will help you discover whether your research question is too broad, too narrow, or okay?

If you know a lot about the topic, you can develop a research question based on your own knowledge. If you feel you don't know much about the topic, think again. For example, if you're assigned a research topic on an issue confronting the ancient Babylonian family, remember, by virtue of your own family life, you already know a great deal about family issues. Once you determine what you do know, then you're ready to do some general reading in a textbook or encyclopedia in order to develop a usable research question

Research Objectives

The formulation of objectives will help you to:

Focus the study (narrowing it down to essentials); Avoid the collection of data which are not strictly necessary for understanding and solving the

problem you have identified; Organize the study in clearly defined parts or phases.

Properly formulated, specific objectives will facilitate the development of your research methodology and will help to orient the collection, analysis, interpretation and utilization of data.

How should you state your objectives?

It is important that your objectives are stated in a good way. Take care that the objectives of your study:

Cover the different aspects of the problem and its contributing factors in a coherent way and in a logical sequence;

Are clearly phrased in operational terms, specifying exactly what you are going to do, where, and for what purpose;

Are realistic considering local conditions; Use action verbs that are specific enough to be evaluated (Examples of action verbs are: to

determine, to compare, to verify, to calculate, to describe, and to establish). Avoid the use of vague non-action verbs (Examples of non-action verbs: to appreciate, to understand, or to study).

Keep in mind that when the project is evaluated, the results will be compared to the objectives. If the objectives have not been spelled out clearly, the project cannot be evaluated

Research Propositions and Hypotheses

Concepts are the basic units of theory development. However, theories require an understanding of the relationship among concepts. Thus, once the

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concepts of interest have been identified, a researcher is interested in the relationship among these concepts. Propositions are statements concerned with the relationships among concepts. A proposition explains the logical linkage among certain concepts by asserting a universal connection between concepts. For example, we might propose that treating our employees better will make them more loyal employees. This is certainly a logical link between managerial actions and employee reactions, but is quite general and not really testable in its current form.Hypotheses A hypothesis is a formal statement explaining some outcome. In its simplest form, a hypothesis is a guess. A sales manager may hypothesize that the salespeople who are highest in product knowledge will be the most productive. An advertising manager may hypothesize that if consumers’ attitudes toward a product change in a positive direction, there will be an increase in consumption of the product. A human resource manager may hypothesize that job candidates with certain majors will be more successful employees. A hypothesis is a proposition that is empirically testable. In other words, when one states a hypothesis, it should be written in a manner that can be supported or shown to be wrong through an empirical test. For example, using the color of the background for a Web site discussed previously, the researcher may use theoretical reasoning to develop the following hypothesis:

H1: A web site with a blue background will generate more sales than an otherwise identical Web site with a red background.

We often apply statistics to data to empirically test hypotheses. Empirical testing means thatsomething has been examined against reality using data. The abstract proposition “Treating our employees better will make them more loyal employees” may be tested empirically with a hypothesis.

The hypothesis “Increasing retirement benefits will reduce intention to leave the organization” is an empirical counterpart of this proposition. Retirement benefitsand intention to leave are variables, reflecting the concepts of employee treatment and employee loyalty. When the data are consistent with a hypothesis, we say the hypothesis is supported. When the data are inconsistent with a hypothesis, we say the hypothesis is not supported. We are often tempted to say that we prove a hypothesis when the data conform to the prediction, but this isn’t really true. Because our result is based on statistics, there is always the possibility that our conclusion is wrong. Now, at times we can be very, very confident in our conclusion, but from an absolute perspective, statistics cannot prove a hypothesis is true. Because variables are at the empirical level, variables can be measured. In this case, retirement benefits might be measured quite easily and precisely (e.g., the actual percentage change in matching retirement funds), while the latent construct of intention to leave would be more challenging for the researcher. This step is known as operationalizing our variables—the process of identifying the actual measurement scales to assess the variables of interest.

Role of Theory (Theoretical Framework)

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Like all abstractions, the word “theory” has been used in many different ways, in many different contexts, at times so broadly as to include almost all descriptive statements about a class of phenomena, and at other times so narrowly as to exclude everything but a series of terms and their relationships that satisfies certain logical requirements. A formal, logical explanation of some events that includes predictions of how things relate to one another. A theory consists of a coherent set of general propositions that offer an explanation of some phenomena by describing the way other things correspond to this phenomena. Put another way, a theory is a formal, testable explanation of some events that includes explanations of how things relate to one another.A theory can be built through a process of reviewing previous findings of similar studies,simple logical deduction, and/or knowledge of applicable theoretical areas. For example, if a Web designer is trying to decide what color background is most effective in increasing online sales, he may first consult previous studies examining the effects of color on package design and retail store design. He may also find theories that deal with the wavelength of different colors, affective response to colors, or those that explain retail atmospherics. This may lead to the specific prediction that blue is the most effective background color for a Web site.While it may seem that theory is only relevant to academic or basic business research, theoryplays a role in understanding practical research as well. Before setting research objectives, the researcher must be able to describe the business situation in some coherent way. Without this type of explanation, the researcher would have little idea of where to start. Ultimately, the logical explanation helps the researcher know what variables need to be included in the study and how they may relate to one another. The Research Snapshot on page 41 illustrates how theory and practice come together in marketing research.

What Are the Goals of Theory?

Suppose a researcher investigating business phenomena wants to know what caused the financial crisis. Another person wants to know if organizational structure influences leadership style. Both of these individuals want to gain a better understanding of the environment and be able to predict behavior; to be able to say that if we take a particular course of action we can expect a specific outcome to occur. These two issues—understanding and predicting—are the two purposes of theory. Accomplishing the first goal allows the theorist to gain an understanding of the relationship amongvarious phenomena. For example, a financial advisor may believe, or theorize, that older investors tend to be more interested in investment income than younger investors. This theory, once verified, would then allow her to predict the importance of expected dividend yield based on the age of her customer. Thus a theory enables us to predict the behavior or characteristics of one phenomenon from the knowledge of another phenomenon. The value of understanding and anticipating future conditions in the environment or in an organization should be obvious. In most situations, of course, understanding and prediction go hand in hand. To predict phenomena, we must have an explanation of why variables behave as they do. Theories provide these explanations.

Review of Literature for Research

Literature means writings and a body of literature refers to all the published writings in a particular style on a particular subject. In research, a body of literature is a collection of published information and data relevant to a research question. The research question. Often referred to as the research problem, the research question provides the context for the research study and reveals what the

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researcher is trying to answer. The paper must answer clearly, "What is the problem?" and "Why do I care?" At the same time, stating the problem precisely limits the scope of the research project by focusing on certain elements. It lets you show why those variables are important. The statement of the problem is the first part of the paper to be read after the title and abstract. It's like a lead on a newspaper story. It hooks the reader and gives context to what follows. A review of the literature is an essential part of your academic research project. The review is a careful examination of a body of literature pointing toward the answer to your research question. Literature reviewed typically includes scholarly journals, scholarly books, authoritative databases and primary sources. Sometimes it includes newspapers, magazines, other books, films, and audio and video tapes, and other secondary sources.

Primary sources are the origin of information under study, fundamental documents relating to a particular subject or idea. Often they are first hand accounts written by a witness or researcher at the time of an event or discovery. These may be accessible as physical publications, as publications in electronic databases, or on the Internet.

Secondary sources are documents or recordings that relate to or discuss information originally presented elsewhere. These, too, may be accessible as physical objects or electronically in databases or on the Internet.

All good research and writing is guided by a review of the relevant literature. Your literature review will be the mechanism by which your research is viewed as a cumulative process. That makes it an integral component of the scientific process. Why do it? The purpose of the literature review remains the same regardless of the research method you use. It tests your research question against what already is known about your subject. Through the literature review you will discover whether your research question already has been answered by someone else. If it has, you must change or modify your question.

Purpose of a literature reviewA literature review situates your topic in relation to previous research and illuminates a spot for yourresearch. It accomplishes several goals:

1. provides background for your topic using previous research.2. shows you are familiar with previous, relevant research.3. evaluates the depth and breadth of the research in regards to your topic.4. determines remaining questions or aspects of your topic in need of research.

How to write a strong literature review

There are several steps toward writing a strong literature review:1. Synthesize and evaluate information2. Identify the main ideas of the literature3. Identify the main argument of the literature review4. Organize the main points

Use verb tenses strategically.

Present tense is used for relating what other authors say and for discussing the literature, theoretical concepts, methods, etc.“In her article on biodiversity, Jones stipulates that ….”In addition, use the present tense when you present your observations on the literature.“However, on the important question of extinction, Jones remains silent.”

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Past tense is used for recounting events, results found, etc.“Jones and Green conducted experiments over a ten-year period. They determined that it was notpossible to recreate the specimen.”

Research Project :

A project is a scientific and systematic study of a real issues and a problem intended to resolve the problem with application of management concepts or skills. The study can deal with a small or a big issue in a division or and organization. The problem can be a form of any discipline of management. It can also be a case study. The essential requirement is that it should entail scientific collection, analysis and interpretations of data reading to valid conclusions.

Research project is an opportunity “to find things out from the horse’s mouth “by investigating how things worked in the real world after 2 years of studying theories of business and management and to find out what people really think about a subject. It will help you to become specialist in a particular area. And you can apply the skills that you gain from research to everyday life and everyday jobs. It can also be a talking point for a job interview.

Aims and Objectives for conducting a Dissertation

1. To provide the opportunity for students to undertake an independent piece of work of a demanding nature

2. To enable students to investigate, in depth , a subject in which they have a particular interest and is of their own selection

3. To provide students with an opportunity to stretch their intellectual and technical skills4. To encourage students to develop new form of analysis , conclusions and policies which may

make an original contribution to the knowledge in the field of study concerned5. To encourage both clarity and depth of thought in that project involves analysis of a problem

in depth and the development of a logical sequence of ideas 6. To provide students with an opportunity of learning how to acquire detailed information on a

particular issue. It will involve them in using primary sources of data such as census, and it will involve the collection of new data through interviews, surveys, and archival research

7. To require the proper use , presentation and communication of data

Planning a Research Project

The proposal should have sufficient information to convince your readers that you have an important research idea, that you have a good grasp of the relevant literature and the major issues, and that your methodology is sound.

Title

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It should be concise and descriptive. Often titles are stated in terms of a functional relationship, because such titles clearly indicate the independent and dependent variables. However, if possible, think of an informative but catchy title. An effective title not only pricks the reader's interest, but also predisposes him/her favourably towards the proposal.

Abstract

It is a brief summary of approximately 300 words. It should include the research question, the rationale for the study, the hypothesis (if any), the method and the main findings.

Introduction

The main purpose of the introduction is to provide the necessary background or context for your research problem. How to frame the research problem is perhaps the biggest problem in proposal writing.

However, try to place your research question in the context of either a current "hot" area, or an older area that remains viable. Secondly, you need to provide a brief but appropriate historical backdrop. Thirdly, provide the contemporary context in which your proposed research question occupies the central stage. Finally, identify "key players" and refer to the most relevant and representative publications. In short, try to paint your research question in broad brushes and at the same time bring out its significance

The introduction generally covers the following elements:

State the research problem, which is often referred to as the purpose of the study Provide the context and set the stage for your research question in such a way as to show its

necessity and importance Present the rationale of your proposed study and clearly indicate why it is worth doing Briefly describe the major issues and sub-problems to be addressed by your research. Identify the key independent and dependent variables of your experiment. Alternatively,

specify the phenomenon you want to study State your hypothesis or theory, if any. For exploratory or phenomenological research, you

may not have any hypotheses. (Please do not confuse the hypothesis with the statistical null hypothesis.)

Set the delimitation or boundaries of your proposed research in order to provide a clear focus. Provide definitions of key concepts. (This is optional.)

Literature Review

most professors prefer a separate section, which allows a more thorough review of the literature

The literature review serves several important functions:

Ensures that you are not "reinventing the wheel“ Gives credits to those who have laid the groundwork for your research Demonstrates your knowledge of the research problem Demonstrates your understanding of the theoretical and research issues related to your

research question Shows your ability to critically evaluate relevant literature information Indicates your ability to integrate and synthesize the existing literature

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Provides new theoretical insights or develops a new model as the conceptual framework for your research

Convinces your reader that your proposed research will make a significant and substantial contribution to the literature (i.e., resolving an important theoretical issue or filling a major gap in the literature).

Methods

The Method section is very important because it tells your Research Committee how you plan to tackle your research problem. It will provide your work plan and describe the activities necessary for the completion of your project

The guiding principle for writing the Method section is that it should contain sufficient information for the reader to determine whether methodology is sound

Furthermore, since there are no well-established and widely accepted canons in qualitative analysis, your method section needs to be more elaborate than what is required for traditional quantitative research

More importantly, the data collection process in qualitative research has a far greater impact on the results as compared to quantitative research

For quantitative studies, the method section typically consists of the following sections:

Design -Is it a questionnaire study or a laboratory experiment? What kind of design do you choose?

Subjects or participants - Who will take part in your study ? What kind of sampling procedure do you use?

Instruments - What kind of measuring instruments or questionnaires do you use? Why do you choose them? Are they valid and reliable?

Procedure - How do you plan to carry out your study? What activities are involved? How long does it take?

Results Obviously you do not have results at the proposal stage. However, you need to have some

idea about what kind of data you will be collecting, and what statistical procedures will be used in order to answer your research question or test you hypothesis.

Discussion It is important to convince your reader of the potential impact of your proposed research. You

need to communicate a sense of enthusiasm and confidence without exaggerating the merits of your proposal. That is why you also need to mention the limitations and weaknesses of the proposed research, which may be justified by time and financial constraints as well as by the early developmental stage of your research area.

Components/elements of research project

Title Introduction Statement of the problem Rationale/justification/significance of the research Review of literature Formulating Research Questions Objectives of the research Operational definitions of terms used Theory and Hypothesis

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Methodology Used-Sampling/ - Universe - Data Source –Interview/Questionnaire/Focus Groups/Surveys-Analytical Framework

Scope and limitations of the study Time schedule/work plan Budget/estimated cost built up Organization of the report/chapter outline Bibliography/References Conclusions Appendix

Sample Project

Title: An evaluation of the total quality management system : A case Study

Introduction:

The problem of quality management and its associated costs has been of great concern to most industries since the early 1960s. As a result, some large construction contractors have pursued and implemented innovative quality management techniques such as Quality assurance (QA) and Total Quality Management(TQM).Oakland(1990) defined TQM as a way of business as a whole. It applies just as munch to service industries as it does to manufacturing. It involves whole companies getting organized in every department, every activity and every person at every level.

Once management acknowledge that there is a problem, it can take the second step to develop a clear understanding of underlying principles and elements of TQM such as training (Imai et al., 1986), team work (Aubrey et al., 1988), supplier involvement, customer services and its implementation which is considered by Juran (1988) as the primary quality management tool.

According to Bardman and Croxson (1994), several TQM representatives from various client and contracting organizations forming the European Construction Institute TQM Task Force, were discussing this very topic of measuring where their companies were on the TQM journey and it became manifestly obvious, there were various methods for the measurement of TQM. The preliminary literature review, revealed that Boardman's measurement chart is simple but comprehensive and can be used to give a visual representation of the organization's current position in a TQM programme.

Based on such a background, this research will be using the matrix model developed by the Trafalgar House Quality Management Services Organization, as the tool to identify the specific problems within the author's organization and to make recommendations, if appropriate, for improving the quality.

Importance of the study

In today’s global competition and economic liberalization, quality has become one of the important factors for achieving competitive advantage. A good quality product or service enables an organization to add and retain customers. Poor quality leads to discontented customers, so the costs of poor quality are not just those of immediate waste or rectification but also the loss of future sales. Technological innovations have diffused geographical boundaries resulting in more informed customers. The business environment has become increasingly

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complex and the marketplace has changed from local to global. Constant pressure is applied on the management to improve competitiveness by lowering operating cost and improving logistic. Customers are becoming increasingly aware of rising standards, having access to wide range of products and services to choose from. There is an ever-increasing demand for quality product and/or services and this global revolution had forced organizations to invest substantial resources in adopting and implementing total quality management strategies.

Research Questions:

What are the reasons that drive the construction industry towards accreditation of standard quality assurance?

Does accreditation of QA assure the customer to an optimum standard of services? What are the difference, between quality assurance and total quality management?

Objectives:

To review the concept and priciple of TQM. To assess the advantage of the TQM systems. To measure the efficiency of the current quality management system in the author's

organization and to identify any present problems within the system. If appropriate, to design and recommend a new TQM system for the organization. To evaluate the proposed TQM.

Hypothesis:

Quality accreditation assure optimum standard.

METHODOLOGY

Stage 1: Literature Research

A comprehensive review of the relevant literature including a computer assisted search will be undertaken in order to develop an understanding of previous work in the field of TQM.

Stage 2: Exploratory Interviews

This stage will explore the matrix designed by the Trafalgar House Quality Management Services House. The exploration will be achieved through unstructured interviews with five companies that are known to have implemented a TQM system.

Stage 3: Case Study

The author will then use his own organization as a case to study the possible implementation of a systematic TQM. Interview with employees will take place to score the levels of the quality effectiveness.

Stage 4: Evaluation of the Organization's present TQM System

This stage will bring together and review the information collected in the previous stage in which the present TQM system has to studied.

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Stage 5: Writing Up

This stage involves writing up the content of the dissertation and should cover their chapters proposed in the following section.

References

1. CII Institute of Quality, http://www.ciionline.org/services/69/default47e6.html 2. Criteria for Performance Excellence, Baldrige National Quality Program – 2007, National Institute of

Standards and Technology, USA, http://www.quality.nist.gov/ 3. Davenport H. Thomas, “Putting the Enterprise into the Enterprise System” Harvard Business Review,

July-August, 1998 4. Evans R. James, W. James, Dean Jr., Total Quality: Management, Organization and Strategy. South-

Western Educational Publishing, 1999, ISBN: 0324012764 5. Gopalan M. R., Total Quality Management (Past, Present & Future),

http://www.india-today.com/btoday/20000107/plus6.html, Business Today, 2000 6. Jha, Vidhu Shekhar, Sreedhara, T.N., “Strategic Issues in Business Excellence and Benchmarking for

competing in the 21st Century-An Indian Context.” Quality Management Forum Journal, a peer-reviewed, refereed international publication of American Society for Quality (ASQ) USA, Summer 2003, Vol.29, Number 3, 2003.

7. Jha, Vidhu Shekhar, “Strategic Management and Policy Framework for Achieving Business Excellence – case studies of Indian Companies.” Journal of Academy of Business and Economics (JABE), 2005, Vol.V(1), pp. 180-191

8. Jha, Vidhu Shekhar, Ph.D. (Doctoral) Research Thesis, (2005), Study of Business Excellence Models (TQM) Implementation Strategies and Impact on Human Resources in Select Indian Companies, Department of Studies in Business Administration, August 2005, Mangalore University, Karnataka, India

9. Kanji, Gopal, K., “Business Excellence: Make it Happen.” Total Quality Management, 2002, Vol. 13, No. 8, pp. 1115-1124.

10. Lu Edmund and Sohal Amrik, “Success Factors, Weaknesses and Myths concerining TQM Implementation in Australia.” Total Quality Management, 1993, Vol. 4, No. 3

11. The EFQM Excellence Model, http://www.efqm.org12. Yin, Robert K., 1994, “Case Study Research Design and Methods”, Applied Social Research Method

Series, Vol. 5, Sage Publications, London.13. Kanji, Gopal K., Wong, Alfred, “Business Excellence Model for Supply Chain Management.” Total

Quality Management, 1999, Vol. 10, No. 8, pp. 1147-116814. Selladurai Raj, A Look at Total Quality Management’s (TQM) Effectiveness, Proceedings of the

Eleventh Annual Conference of the Production and Operations Management Society, POM-2000, April 1-4, 2000, San Antonio, TX, USA

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FORMAT OF REPORT FOR MBA PROJECT WORK

Form & Colour :Hard Bound Orange colour

Paper size: A 4 size paper

Font: TIMES NEW ROMAN

Front Size: Main Headings : 16 Pt Bold (UPPER CASE): Sub Headings Bold: 14 pt

(UPPER CASE) : Content: 12 pt

Spacing : 1.5 spaces

Margin: Left 1.5 inces: Right: 1 inches : Top & Bottom: 1 inches

Project Report on

MAIN TITLE

Submitted in partial fulfillment of the requirements for the award of the degree of

Master of Business Administration of University of Kerala

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Submitted by:

Reg. no.

Under the Guidance of

DC School of Management and Technology

KINFRA Film & Video Park

Sainik School (P.O)

Kazhakoottam

Thiruvananthapuram 695585

Month & Year

Declaration

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Certificate ( of the Organisation)

This is to certify that …………………………………….has done a project

work on “……………………………………………..” in our organization under the

supervision of ……………………………..during the period from ………………..to

……………………… He/she has successfully completed the work.

(Seal)

(sd)

Place:

Date:

Certificate (of the Institution)

This is to certify that the report entitled “……………………………………..”

submitted here is a bonafide record of the work done by …………………………

under my guidance in partial fulfillment of the requirement of the award of the

Degree in Master of Business Administration of the University of Kerala and this

work has not been submitted by him/her for the award of any other degree, diploma

or title of recognition earlier.

DC School of Management and Technology (sd)

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Date:………………………..

Supervisor

(Seal)

II. Declaration

III. Certificate of the organization

IV. Certificate of the Institution

V. Acknowledgement

VI. List of contents

VII. List of tables and chart

Chapterisation

Chapter- 1 Introduction to the study:

The contents of the chapter are:

1. Background and definition of the problem

2. Need and significance of the study

3. Objectives of the study

4. Research methodology

5. Scope of the study

6. Limitations of the study

7. Chapterisation

Chapter II: Literature Review

Minimum of 25quotes from the subject of study like:

Carney(1998)1 has defined human capital as the skills, knowledge, ability to labour

and good health important to the ability to pursue different livelihood strategies.

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At the end of the chapter, give the reference as:

1. Carney D (1998): “Sustainable Rural Livelihoods, What Contribution Can We

Make” DFID, Nottingham, Russel press Ltd.

Chapter III: Theoretical Framework :

The chapter should contain theoretical background of the study with a valid model.

Chapter IV: Industry and Company Profile:

The students are expected to detail the industry in which the selected company

operates and also detail the companies cross functional aspects precisely.

Chapter V: Data analysis & Discussion

This chapter should contain a logical presentation of the empirical results after

completing the data analysis. This should contain neatly tabulated results, results of

Hypotheses tested, graphs and figures, if any, along with the necessary interpretation.

A comparison of results with earlier studies may add novelty to the work. A detailed

discussion on the basis of results of analysis should be given in this Chapter.

Chapter VI: Findings, Conclusions and Suggestions:

This Chapter should focus on broad observations made by the study against each

objective specified in the Ist Chapter. All observations should neatly be bulletined

along with suitable captions. This chapter should also give a brief list of conclusions

drawn by the study and then provide necessary suggestions for the policy makers/

managers on future course of corrective action.

Bibliography

Each reference should give the details regarding the authors(s) the title of paper/book,

details regarding its year of publication, place of publication, name of publisher/

name of the journal in case of a research article, etc. Few examples are as follows:

1. Chandrasekar, “ Action- Attitude model for global brand building- An insight for

Indian companies”, The Indian Journal of commerce, July- September 2007, pp

65- 81.

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2. Quelch Joh, A. “Sales Promotion Management”, Englewood Cliffs, N.J. Prentice

Hall, 1989, 350 p.

3. P. Rajan Varadhrajan, “Joint Sales Promotion: An emerging Markeing Tool”

Business Horizons, September- October 1985 pp- 43-49.

4. Abbot.C. Martin, “Two could be Mightier- Than Just one in Promotions”,

Advertising Age 1980, 51 (May 5) S- 21, S- 23.

5. Vyas Preeta, Kureshi Sonal, “ Avenues for Joint Sales Promotion In India,” 1993.

A paper presented at AIMS, MDI Gurgaon 1994.

6. Srini Srinivasan , “Concept and strategy guidelines for Designing Value

Enhancing Sales Promotions” Journal of product and Brand Mangement, Vol 9,

No. 6, 2000.

7. Chandrasekar, “Brands Hike Spends on Joint Promotions”, Business Standard,

2001.

8. Madan, Hormuzd, “Business is Driven by Brands”, A & M June 2000

9. Cravens, Karen S; “Strategic Brand Valuations”, Business Horizons.

10. Parks, Liz; “Boosting Sales through New Product Benefits”. Drugstore News;

August 2000.

Annexure

Every Project Report should contain necessary annexure wherein the proforma

of Questionnaire/ Interview Schedule should be enclosed in original. The thesis must

be organized as above and has to be neatly types (with one and half line space) and

submitted in hard bound form. You may type only one side of the page. Use only A4

size paper and the report may be within the range of 100- 130 pages.

Evaluation

The project work and report will be evaluated for 200 marks. ( 50 makrs for

viva- voce and 150 marks for the project totaling to 200 marks). The contact hours

required for the completion of the project work is notionally fixed at 160 hours

distributed over a continuous period of two months.

Comprehensive Viva – Voce: 100 marks

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This is done to assess the students of their understanding of the concepts,

theories, knowledge assimilation, skill development and application in real life

situation. This will encompass all the subjects studied by the students during the two

year period

Gantt chart

A Gantt chart is a type of bar chart, developed by Henry Gantt, that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure of the project.

An Example of a Gantt Chart for a Student Research Project.

Sept. Oct. Nov. Dec. Jan. Feb. March AprilIdentify Research AreaFormulate Research QuestionsResearch Design and MethodsWrite Research ProposalLiterature ReviewData CollectionData AnalysisWrite First DraftWrite Second DraftOral PresentationWrite Final DraftDissertation Due

.

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