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RESEARCH METHODOLOGY Assignment - Eliot Aradukunda

The document discusses research methodology and the importance of sampling and surveys. It provides instructions for a school assignment on research methodology. It then addresses two questions: 1) It explains factors that make decision making complex, like past experiences, cognitive biases, and attitudes towards risk. It discusses how research can help resolve these issues through accurate data collection, goal-oriented analysis, and honest reflection. 2) It describes the importance of sampling in research for saving time and money. It gives examples of probabilistic sampling methods like random sampling and non-probabilistic methods like convenience sampling. 3) It provides the steps to carry out a market survey, including determining the sample group, creating questions, testing the survey

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42 views4 pages

RESEARCH METHODOLOGY Assignment - Eliot Aradukunda

The document discusses research methodology and the importance of sampling and surveys. It provides instructions for a school assignment on research methodology. It then addresses two questions: 1) It explains factors that make decision making complex, like past experiences, cognitive biases, and attitudes towards risk. It discusses how research can help resolve these issues through accurate data collection, goal-oriented analysis, and honest reflection. 2) It describes the importance of sampling in research for saving time and money. It gives examples of probabilistic sampling methods like random sampling and non-probabilistic methods like convenience sampling. 3) It provides the steps to carry out a market survey, including determining the sample group, creating questions, testing the survey

Uploaded by

Eliot umugwaneza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Name: Eliot Aradukunda Umugwaneza.

Code: BB/2021/85537
SCHOOL OF BUSINESS & ECONOMICS
SEMESTER ASSIGNMENT (SEPTEMBER -DECEMBER 2022/23)

BBCU001: RESEARCH METHODOLOGY

---------------------------------------------------------------------------------------------------------------------
INSTRUCTIONS:
 Copy pasting from internet or other sources is a serious academic offense and
will be penalized, please avoid (including copying from each other).
 Its recommended that you reference source of your material appropriately (Use
APA referencing style)
 To adequately tackle the task, you need to read widely, don’t just relay on the
unit module.
 DUE ON OR BEFORE 15TH OCTOBER 2022
--------------------------------------------------------------------------------------------------------------------
1. One of the key challenges facing any manager is to make accurate decision in the
context of growing uncertainty. To reduce the risk of uncertainty and ensure good
decisions, managers have to carry out scientific research to support their decisions.
explain the factors that make decision making complex and show how research can
resolve this problem. (10 marks)

Factors that make decision making complex.

Past experience: Past experience can influence the decision making process
whereby if something positive resulted from a past decision, the manager is
likely to decide in similar way given the same situation. If the decision made in
the past was a failure, the manager will avoid making the same mistake.
Cognitive biases: Cognitive bias is a systematic thought process caused by
the tendency of the human brain to simplify information processing through a
filter of personal experience and preferences. People are influenced in
decision-making by cognitive biases when they dismiss information or
observations that they perceive to be uncertain without considering the bigger
picture and instead over rely on expected observations and previous
knowledge.
Belief in personal relevance : People are more likely to make a decision
when they believe it matters. When people believe that their opinion is
representative of the general public's attitudes and when they recognize their
own significance to the outcome, they are more likely to vote.
Prejudice: Our perceptual processes introduce bias and prejudice into our
decisions, which may result in poor choices. First and foremost, because
perception is highly selective, we only accept what we want to accept, and
only this kind of information reaches our senses.
Attitude about risk and uncertainty : These attitudes are formed in a
person, partly as a result of personal traits and partly as a result of
organizational traits. The decision-maker is more likely to steer clear of
options that have a chance of failing if the company's policy penalizes losses
more than it rewards gains.

How research solve the above problem.

Accurate data and Judgment: To identify key points, research relies on


precise data like the organization's monthly profitability or competitive
analysis. Planning or developing a strategy is made easier when strengths
and opportunities for the future are examined internally. It is effective because
it serves to remind us that there are actual threats and weaknesses that need
to be managed moving forward. When it comes to the identification and
organization of information, managers must exercise good judgment.
Goal-oriented: The analysis must be focused on a goal, whether it is used
for strategic planning or a specific decision. This will help evaluate both the
relevant internal assets and external strains and ensure that the research is
focused. By focusing on important considerations and avoiding too many key
points, it is important to keep the analysis manageable.
Honest reflection: When you are developing your research, be honest and
critical. The goal of this exercise is to list all the benefits and drawbacks of the
decision that will or have an effect on your business. Since it is not a
performance evaluation, don't be discouraged by threats or weaknesses
because these actually present the greatest opportunity for positive change.
Recognize limitations: In the right context, research provides a useful but
limited visual summary. Meetings, business and marketing plans, and other
occasions benefit from its use. It should always be well-researched, and the
limitations should be made clear to everyone so that the analysis can be used
in the best possible way.

2. Discuss why sampling is important in research and explain and give situations when
to apply two probabilistic and two non-probabilistic sampling methods. (10
marks)
The importance of sampling in research.
Without having to query the entire population, researchers can obtain
sufficient data through sampling to answer the research question, saving
both time and money.
Saves time: It takes time to contact every person in a population.
Additionally, it is inevitable that some individuals will not respond to the
initial attempt to contact them, necessitating additional time for follow-up.
Obtaining a non-random sample is almost always faster than random
sampling, and random sampling is much faster than surveying everyone in
a population. As a result, researchers benefit greatly from sampling.
Saves money: The cost of a study is directly related to how many people
a researcher talks to. By allowing researchers to obtain the same
responses from a sample as they would from the population, sampling
saves money.
Collect richer data: Sometimes, gathering data from a large number of
people is the goal of research. Other times, the objective is to gather a lot
of information from a small number of people. In either case, rather than
contacting every person in a population, researchers can ask participants
more questions and collect more comprehensive data through sampling.

Probability sampling: Probability sampling refers to the selection of a


sample from a population, when this selection is based on the principle of
randomization, that is, random selection or chance.  For instance; each
person in a population of 100 would have a chance of being chosen of one in
100.

Non-probability sampling: Non-probability sampling is a method of selecting


units from a population using a subjective method. Since non-probability
sampling does not require a complete survey frame, it is a fast, easy and
inexpensive way of obtaining data. For instance; convenience, haphazard or
accidental sampling, members of the population are chosen based on their
relative ease of access.

3. You have been requested by your organisation to carry out a market survey to
inform likely consumer reactions to proposed increase in your commodity prices.
Explain the process you go through to carry out this survey. (10 marks)

Process to go through to carry out the survey.

Determine your sample group: It is essential to survey a group of people who


will provide you with the most accurate and unbiased results when carrying out a
general survey. When conducting a survey about a particular set of beliefs, you
need to deliberately gather people who share those beliefs. Planning and
research are needed for this step. After choosing the kind of group, you need to
decide how many people to survey.
Create your question: The following field types can be used to display your
questions: Short or Long Answer, Radio Button, Checkbox, Matrix, and Select
List few differences exist.
Test: Send your survey to a few people who weren't involved in the development
process after you've finished it and let them take it and give you feedback on the
process.
Get it out: Through your email service provider or email marketing tool, you can
also send the link to the survey to your contacts via email.
Analyze your data: You can begin analyzing your data as soon as it starts
coming in because submissions are instantaneous. You can sort and search your
collected data in your online database, as mentioned earlier, for easier viewing.
Charts and reports can be created from your data to compare the answers to the
questions.

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