Business Research Concepts

The Purpose of Research

Research is the process of a systematic and in-depth study or search of any particular topic, subject or area of investigation, involving collection, compilation, presentation and interpretation of relevant details or data. It is a careful search or inquiry into any subject matter, which is an  endeavor  to discover to find out valuable facts which would be useful for solving problems or improving existing solutions to problems. The research that involves scientific analysis would result in the formulation of new theories, the discovery of new techniques, modification of old concepts or a knocking-off an existing theory, concept or technique.

Research has proved to be a powerful tool in driving the mankind towards development.… Read the rest

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Standard Error in Hypothesis Testing

The standard error is an indispensable tool in the kit of a researcher, because it is used in testing the validity of statistical hypothesis. The standard deviation of the sampling distribution of a statistic is called the standard error. The standard error is important in dealing with statistics (measures of samples) which are normally distributed.

Here the use of the word “error” is justified in this connection by the fact that we usually regard the expected value to be true value and the divergence from it as error of estimation due to sampling fluctuations. The term standard error has a wider meaning than merely the standard deviation of simple sampling because of the following reasons;

  1. The standard error is mainly employed for testing the validity of a given hypothesis.
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The Research Problem

The first step in research is formulating the research problem. Stefan Nowak defined a research problem as “a certain question or set of questions to which the research is to provide an answer”.

Problem Identification

Identifying a research problem is the first and foremost step in any research process. A researcher has to devote considerable time and attention for this. A research problem refers to some deprivation or shortcoming or a gap in knowledge that a researcher experiences in a theoretical or practical situation and wants to find a solution for the same. Research really begins when the above referred situation demanding a solution is perceived by the researcher within the realm of general topic selected by hum.… Read the rest

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Inductive and Deductive Research Approach

Inductive Research Approach

Induction is concerned with first obtaining data, discovering the truth and establishing relationships regarding the particular cases concerned. If these are found correct and operating, these are  generalized   Induction lays stress on establishment of the material truth of matters pertaining to the universe or population based on sample observations. In mathematics, the proof for the Binomial Theorem is based on induction method. A study of, say, a dozen, randomly chosen family run businesses reveals that the decision-making process is centralized and less transparent. And, it may be concluded that decision process is  centralized  and less transparent in the case of family-run businesses.… Read the rest

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Guide to the Development of Research Questionnaires

The process of questionnaire development is divided into three phases, (1) Designing or making (2) Issuing (3) Returning. While designing a research questionnaire, attention should be paid to three important matters;

  1. Appearance of the questionnaire,
  2. Contents of questionnaire, and
  3. Subject-matter.
Design of Questionnaire

To design a good research questionnaire certain steps are needed. These are :

  1. Consult   colleagues, friends & acquaintances to get their thinking on the problem.
  2. Formulation of such a list of areas and questions.
  3. Submit this list to experts both in the field of problem and related fields.
  4. Drafting the questionnaire (first stage).
  5. Pre-testing the questionnaire.
  6. Re-examination and revising the questionnaire (second stage).
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Schedule as a Data Collection Technique in Research

Schedule is the tool or instrument used to collect data from the respondents while   interview is conducted. Schedule contains questions, statements (on which opinions are elicited) and blank spaces/tables for filling up the respondents. The features of schedules are :

  • The schedule is presented by the interviewer. The questions are asked and the answers are noted down by him.
  • The list of questions is a more formal document, it need not be attractive.
  • The schedule can be used in a very narrow sphere of social research.

The main purposes of schedule are three fold :

  1. To provide a standardized tool for observation or interview in order to attain objectivity,
  2. To act as memory tickler i.e.,
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Abey Francis