BRM First
BRM First
DATA COLLECTION
BUSINESS Research
CHAPTER: 1 BUSINESS
RESEARCH
Research is nothing but search for knowledge or search for
unknown things. The word research composed of two words, re and
search.
Re- Once more or back with or return to previous state. Search- Look
through or go over thoroughly to look something or examine to find
anything concealed.
So research is the search again and again for new knowledge.
In other words, research is an organized and systematic way of
finding answers to questions. It is an art of scientific investigation.
Some people consider research as a movement i.e. a movement from
Definition of Research
According to Robert Ross, “research is essentially an investigation, a recording
and an analysis of evidence for the purpose of gaining
knowledge.” It
can generally be defined as a systematic method of finding
solutions
to problems.
According to Clifford Woody, “research comprises defining and redefining
problems, formulating hypothesis or suggested solutions, collecting,
organizing and evaluating data, making deductions and reaching
conclusions and at last carefully testing the conclusions to
determine
Features of Research
9.Demand driven:
Business research is conducted to get more information. The demand
for information is the main driving force to conduct business research.
10.Empowerment of managers:
Business research empowers the managers to take better decisions.
16. Dynamic:
Business research is undertaken in a fast changing environment. The
researcher should take a cautious and systematic approach to deal with
rapid changes.
Role of Business Research in decision making
1. Product Analysis:
1. Management tool:
Business Research is act as a management tool that can
be used for creating business strategies, decision making,
managing
production and the growth of the company.
2. Source of information:
Business research simply gather or purchase relevant
statistics and data from reliable sources.
3. Redefining perceptions:
Business research provides an opportunity for assessment. The
manufacturer may have some assumption about the industry. It
has the perception about their role. All these may change through
business research assessment.
4. Risk management:
Business research helps to lower risk by supplying
relevant information about the present conditions such
as the trend and market condition.
5. Shape strategies:
Business research can inform and shape business
strategies. If we know what competitors are doing and
the direction they are headed then it can inform present
business strategies.
Objectives/ Purpose of Business Research
1. Job seekers:
2. Investors:
3. B2B Providers:
Business to Business meets the needs of other
businesses.
Business that provide professional services such as
management consulting, lawful services, accounting and tax
related services are experienced researcher who consider the
viability of approaching their target market.
4. Companies:
Companies conduct business research for a number of
reasons such as: Testing new products, Measuring
advertisement effectiveness, Studying competitions etc.
Phases of Research / Business Research (Process/
Stages of Business Research)
Coding converts the data into symbols and small figures so that the
data can be dealt with in an easy manner.
Editing improves the quality of the data since it is at this stage that data
which is irrelevant can be dropped.
Analysis and interpretation of data results in observation, analysis,
conclusion, induction and deduction. For this various statistical
measures are computed.
13.Testing of Hypothesis
Types of Research
Application Objective Inquiry Mode Other Types
3.Correlational 3. Experimental /
Laboratory
4. Explanatory 4. Simulation
5. Analytical
On the basis of application.
1 Pure Research
1. It is problem oriented
2. It involves application of theories for construction of models
to find solution to the problems faced by the society.
3. It is need based
4. It has high practical relevance
5. It is result oriented and is driven by a clear idea
6. Solutions to the problems help in framing fundamental laws
7. It can contribute new facts
8. It integrates previous theories
9. Time and cost factors of this type of research are well planned
and
budgeted.
II. On the basis of objectives
1. Descriptive research
1.Quantitative Research:
Quantitative research is applicable to phenomenon’s that
are measurable so that they can be expressed in quantity
This research employs quantitative measurement and the use of
statistical analysis.
For eg : A study conducted to find out the proportion of
college students using self driven vehicles for coming to college for
a
given area.
2.Qualitative Research
1. Longitudinal Research:
10. Variables:
A variable is an attribute on which things vary.
Dictionary meaning of variable is changing or changeable. A
variable is an entity that takes on different value. In other words, a
variable is anything that can change in its quantity or value.
Types of variables
1. Dependent variable
If one variable depends upon another variable or is the
consequence of other variable, it is termed as dependent
variable.
For e.g.: Teaching style improves the student’s performance.
Here student performance is a dependent variable because it is
affected by teaching style.
2. Independent variable:
2. Independent variable:
If one variable brings an effect on another variable or
causes other variable is known as independent variable.
For e.g.: Teaching style improves the student’s
performance. Here teaching style is an independent variable
because
it brings an effect on student’s performance.
3. Moderating variable
3. Moderating variable:
A variable that delineates how a
relationship of interest changes under different conditions
or
circumstances. Sometimes a relationship does not
generalize
to everyone, therefore researchers often use moderator
variable to show the relationship changes across the levels
of
an additional variable.
Moderating variable modify the cause and
effect
relationship between the independent variable and
dependent
variable. It is the second independent variable that brings a
strong contingent effect on the dependent variable and
first
independent variable
4. Intervening variable (Mediating variable)
4. Intervening variable (Mediating variable):
An intervening variable is one which suggests that the relationship
between the independent variable and the dependent variable is not a direct
one. In other words, it tells why there is a relationship between two variables.
A
variable that comes in between other variables and that helps to describe the
process through which variables affect one another.
For eg: If the teaching style was good, environment was excellent yet the student
could
not recall basics of the lecture when asked the very next day. There must be
variables that influences the relationship between the variables that the
variable other than the original independent variable and which may have
an
Assumptions
Tentative statements
Propositions
To be accepted or rejected
false.
Needs / Importance of Hypothesis
Descriptive Hypothesis
Relational Hypothesis
Statistical hypothesis:
A Hypothesis that is to be tested statistically is termed as
statistical hypothesis. Quantitative techniques are used to test the
hypothesis. For e.g. T test, F test etc.
Null hypothesis:
It is a hypothesis that expresses no relationship between variables.
Alternative hypothesis:
If the working hypothesis is proved wrong to be rejected
another hypothesis is formulated to be tested to generate
results.
Actually it is the alternative assumption about a particular
statement and is denoted by H1.
Simple hypothesis:
It is a hypothesis that reflects the relationship between
two
variables (independent variable and dependent variable).
Complex hypothesis:
It is a hypothesis that reflects the relationship among
more than two variables.
Logical hypothesis:
A hypothesis that can be logically verified is termed as
logical hypothesis. The relationship between variables are stated
and verified in a logical manner.
Complex hypothesis:
It is a hypothesis that reflects the relationship more than
two variables.
Logical hypothesis:
A hypothesis that can be logically verified is termed as
logical hypothesis. The relationship between
variables are stated and verified in a logical
manner.
Working hypothesis
Primary data are the data originally collected for an investigation. This type
data are original in character because these are collected by a
investigator himself for the first time for a specific purpose.
purpose.
A Internal sources
Internal sources of data are those which are obtained from the
internal
B External sources
and investigation.
Example: Journals, News papers, Diaries, Letters etc.
Choice between primary data and secondary data
The selection of data sources depends upon the following:
1. Nature and scope of the enquiry or study.
2. Accessibility of financial resources.
3. Availability of time.
4. Degree of accuracy necessary for the study.
5. The status of the investigator or researcher.
6. The availability of trained investigators
Methods of Data Collection
Methods of Collecting Primary Data
1. Observation
1. Simple Observation:
3. Subjective Observation:
5. Uncontrolled Observation:
uncontrolled observation.
6. Casual Observation:
9. Factual Observation:
observation.
When the observer participates with the activities of the group under study.
The main advantages of this method are to get direct or accurate information.
The observer is present in the group but does not participant in their
activities.
PROCESS OF OBSERVATION
1. SENSATION
Components or Process of Observation
1. Sensation:
It is gained through sense organs. It depends upon the
physical attentiveness of the observer. The personality of
observer is more responsible for accurate observation.
2. Attention
Attention is the ability to select and process certain stimuli in the
environment while ignoring others.
It depends upon the ability of the observer to concentrate on concerned
studies.
3. PERCEPTION
3. Perception:
Perception is the viewpoints of individuals around the world and the
interpretation of the things they see.
perception helps the mind to recognise the facts by grouping and
identifying sensations.
Advantages of Observation
1. Laboratory Experiments
These are the experiments that take place in a laboratory or
in
an artificial setting. Here the investigator create conditions
and
upon which variable are tested.
2. Field experiments
These are the experiments that take place in the natural
setting
and they are more suitable in business research.
4. Simulation
Uses of simulation
1. Assessment of situation
2. Understanding a situation
6. Panel study:
time.
7. Through Telephone 0r Internet:
8. Projective technique:
- It is a field study.
- It is a fact finding study.
- It is a method of gathering information about large number of
people.
- There is a direct contact between investigator and
respondents.
- This is mainly applied in commerce and management streams.
- It deals with immediate social problems.
- It is done within a time frame.
- It is done either by census or sampling.
Objectives of survey method
Cohert study:
Here the investigator focused on a particular population which
is
Here the investigator focused
sampled and on repeatedly,
analyzed a particular population
people which
constituting is
samples
sampled and analysed mayrepeatedly,
be different and are having
people some common
constituting characteristics
samples may
it
be different and are may
having some common characteristics it may be
be conducted by same researcher over a period.
conducted by same researcher over a period.
c. Panel study:
Panel study: Under panel
Under study, investigator
panel study, focused
investigator focusedon
onthe
the same
same population and is collecting the same sample by the same
population
researcher over a period of time.
and is collecting the same sample by the same researcher over
a
period of time.
Methods of survey
Methods of survey
There are mainly two methods of survey. They are:
1. The data can be collected from each and every respondents of the
1. The data can be collected from each and every respondents
entire population.
of
2. Census data is more reliable and accurate.
the entire population.
3. The information based on census
2. Census method
data is more is and
reliable become a base for future
accurate.
study. 3. The information based on census method is become a base
for
4. It is suitable for collecting data on exceptional matters like child
future study.
labour, educational level of people etc.
4. It is suitable for collecting data on exceptional matters like
child labour, educational level of people etc......
Demerits of census survey
1.It is expensive.
Demerits of census survey
2.It is time consuming.
1.Itpopulation
3.If is expensive.
is large, more enumerators (investigators) are
2.It is time
needed consuming.
for collecting data.
4.The accuracy of information
3.If population is large, may be enumerators
more less because of more than
one enumerators.
(investigators) are needed for collecting data.
4.The accuracy of information may be less because of
more than one enumerators.
1.Sample survey :
2. Sample survey :
Sample
Sample
A sample is the representative part of the population.
A sample is the representative part of the population.
A sample is a smaller.
A sampleManageable version ofversion
is a smaller. Manageable a large of group.
a large group.
Samples are used in statistical testing when the population size is too
large for the test to include all possible members or observation.
Sampling
The act or process or technique of selecting a suitable sample from
the population is called sampling.
It is the process of gathering information about large number of
people by considering few of them.
Definitions
According to William J George and Paul K Halt “a sample, as the
name implies small representation of larger whole.”
According to Bogadus, “Sampling means selection of certain
percentage of group item according to a predetermined plan.”
Purpose of sampling (Features/ Merits)
Inand
short, samplingmeans
practical design defined
by whichas awe
blueprint
infer used for selecting samples.
the characteristics of some
population by generalising from the characteristics of relatively
few of the unit comprising the population.” In short, sampling
Features of sampling design
A. Convenience Sampling
A. Lottery Method B. Judgemental Sampling
B. Random Number Method C. Quota Sampling
I. 2. Restricted Random Sampling D. Snow Ball Sampling
A. Systematic Sampling E. Volunteer Sampling
B. Stratified Sampling
C. Cluster Sampling
D. Multi Stage Sampling
E. Random Route Sampling
I. RANDOM/PROBABILITY SAMPLING
I.Random Sampling /Probability Sampling
● A simple random method is the one in which each and every item of
population or universe has equal and independent chance of being
included in the sample.
● In this method all the items of population are represented in small papers of same
size.
● Then the paper folded in the same manner are mixed together and are deposited
in a basket.
● Finally the needed samples are being selected from the basket.
I.1.B. Random Number Method.
population is unknown.
names.
is interviewed.
E. Volunteer Sampling/ Self Selection Sampling.
Sample size is the amount of sample taken for collecting the response
of
It is difficult to select the size of sample because the size of sample should
not
when size of sample is large then it incur high cost and time.
At the same time, if the size of sample is small then the result will not be
a. Biased error:
These are the errors that are occurred due to the wrong selection of
b. Unbiased error:
These are the errors that occur due to the chance differences between
sample selected and sample not selected from the population. It is also
The non- sampling errors are those errors that arise due to the
are:
a. Respondent error:
These are the errors that occur as a result of non response of
respondents or wrong response of respondents.
b. Administrative error:
These are the errors that arise due to the improper administration of research process.
i.e. poor structuring of questions, collecting information from wrong persons etc.
Mail Survey
The respondents are expected to read and understand the questions and write down
the reply in the space meant for the purpose in the questionnaire itself.
2. Media studies:
Advertisers, their agents and media itself conduct a mail survey among the
readers to know the effectiveness.
3. Multiple surveys.
5. It is cost saving.
Demerits of Mail survey
5. Time consuming.
Data collection tools
Questionnaire:
subjects.
6.Administering the questionnaire:
First of all the researcher should provide a descriptive title for the
questionnaire. Then write an introduction to the questionnaire. The
items are grouped by contents, and then provide a subtitle for each
group. Place the item in same format together. At the end of
questionnaire, point out what respondents should do next.
7. Piloting the questionnaire:
1) Structure:
The structure of the questionnaire should be attractive. Adequate
important
should be given to the physical form of the questionnaire such as size,
length, margin and spacing, use one side of the paper etc.
2) Brevity:
The questionnaire should be as brief as possible.
3) Simplicity:
The questionnaire should be drafted in simple language.
4) Ambiguity:
response of respondents.
Guidelines for the preparation of Questionnaire
better response.
10. Questions should be limited to single idea or single
reference
Forms of Questionnaire
1. Structured questionnaires:
It contain definite, concrete and direct questions. The
questions are presented exactly the same wording and in
wide.
8. No prior arrangements are needed for data collection.
9. The results of questionnaires can usually be quickly and
easily
quantified.
10. Replies may be received very quickly.
Demerits of questionnaire
interview
Types of Schedules
1. Observation schedule:
It is used for recording observations. It is mainly
used to verify information.
2. Evaluation schedule:
It is used to gather information about specialized
institutions or agencies.
3. Document schedule:
It is used to record data obtained from documents.
4. Interview schedule:
I. Published source
A report is a detailed description of what has been done and how it has
been done with respect to a particular area or topic. The purpose of the
written report is to present the results of your research. It is the end
product of a research activity.
Need For Research Report
The aim of research is the search for knowledge.
A research report is needed to evolve a theory or a principle.
Reporting is a process through which a basic ground is prepared for
exchange of ideas
orthoughts.
Reporting helps the researcher to make specific recommendation for
course of action.
The research ability of a candidate is revealed through the final report
he
presents.
A research report is highly useful for policy formulators, practitioners,
general public
andothers.
Functions of Research Report
Research report serves as a means for presenting the problem
studied,
methods and techniques used, findings, conclusions and
recommendation in an organised manner.
It serves as a reference material for future use in the same or related
area.
It serves as a means for judging the quality of the research project.
It is a means for evaluating research ability.
It provides systematic knowledge on problems and issues analysed.
TYPES OF REPORTS
Research reports vary greatly in length and type. In each
individual case, both the length and the form are largely dictated by
the problems at hand. For instance, business firms prefer reports in
the letter form, just one or two pages in length. Banks, insurance
organisations and financial institutions are generally fond of the
short
balance-sheet type of tabulation for their annual reports to their
customers and shareholders.
TYPES OF REPORTS
Research reports vary greatly in length and type. In each individual case,
both the length and the form are largely dictated by the problems at
hand. For instance, business firms prefer reports in the letter form, just
one or two pages in length. Banks, insurance organisations and financial
institutions are generally fond of the short balance-sheet type of
tabulation for their annual reports to their customers and shareholders.
TYPES OF REPORTS
Research reports vary greatly in length and type. In each individual case,
both the length and the form are largely dictated by the problems at
hand. For instance, business firms prefer reports in the letter form, just
one or two pages in length. Banks, insurance organisations and financial
institutions are generally fond of the short balance-sheet type of
tabulation for their annual reports to their customers and shareholders.
(B) Popular Report
The popular report is one which gives emphasis on simplicity and
attractiveness. The simplification should be sought through clear writing,
minimization of technical, particularly mathematical, details and liberal
use of charts and diagrams. Attractive layout along with large print, many
subheadings, even an occasional cartoon now and then is another
characteristic feature of the popular report.
For books and pamphlets the order may be as under: 1. Name of author, last name first. 2. Title, underlined to indicate
italics. 3. Place, publisher, and date of publication. 4. Number of volumes. Example Kothari, C.R., Quantitative Techniques,
New Delhi, Vikas Publishing House Pvt. Ltd., 1978.
For magazines and newspapers the order may be as under: 1. Name of the author, last name first. 2. Title of article, in
quotation marks. 3. Name of periodical, underlined to indicate italics. 4. The volume or volume and number. 5. The date of
the issue. 6. The pagination. Example Robert V. Roosa, “Coping with Short-term International Money Flows”, The Banker,
London, September, 1971, p. 995.
Report writing
It is the next step in writing the research report “Outlines are the
framework upon which long written works are constructed. They are an aid
to the logical organisation of the material and a reminder of the points to
be stressed in the report.”
3. Preparation of the rough draft:
This follows the logical analysis of the subject and the preparation of the
final outline. Such a step is of utmost importance for the researcher now
sits to write down what he has done in the context of his research study.
He will write down the procedure adopted by him in collecting the material
for his study along with various limitations faced by him, the technique of
analysis adopted by him, the broad findings and generalizations and the
various suggestions he wants to offer regarding the problem concerned.
4. Rewriting and polishing of the rough draft:
This step happens to be most difficult part of all formal writing. Usually
this step requires more time than the writing of the rough draft. While
rewriting and polishing, one should check the report for weaknesses in
logical development or presentation.
The researcher should also “see whether or not the material, as it is
presented, has unity and cohesion. He should check the mechanics of
writing—grammar, spelling and usag
5. Preparation of the final bibliography:
Next in order comes the task of the preparation of the final bibliography.
The bibliography, which is generally appended to the research report, is
a list of books in some way pertinent to the research which has been
done. It should contain all those works which the researcher has
consulted.