Introduction to Research

Methodology in Business
Building a Foundation for Effective Research
- S.Muthukumar, EPGM2211 & A.Kamaraj, EPGM2215
  - Introduce the topic and its importance in the business field.
1: Introduction  - Explain that research is a fundamental aspect of decision-making,
problem-solving, and innovation in business.
  - Understand the basics of research methodology.
2: Objectives  - Explore different research approaches.
of the  - Identify key research methods and tools.
presentation  - Apply research concepts to real-world business scenarios.
  - Research is the systematic process of investigating a specific
problem, question, or phenomenon. It involves collecting and
analyzing data to gain a deeper understanding of the subject matter.
 - Example: For instance, conducting a market survey to gather
3: What is consumer preferences for a new product launch is a form of
Research? research.
 - Example: Imagine a company wants to understand why its sales
have declined in recent months. Conducting surveys, analyzing
sales data, and interviewing customers are all forms of research that
can help uncover the reasons behind the decline.
  To gain familiarity with a phenomenon or to achieve new insights
into it (studies with this object in view are termed as exploratory or
formulative research studies);

 To portray accurately the characteristics of a particular individual,

situation or a group (studies with this object in view are known as
4. Objectives descriptive research studies);

of Research  To determine the frequency with which something occurs or with

which it is associated with something else (studies with this object
in view are known as diagnostic research studies);

 To test a hypothesis of a causal relationship between variables (such

studies are known as hypothesis-testing research studies).
  - Exploratory Research: This type aims to explore a subject when
little is known about it, providing a foundation for further
investigation.
 - Descriptive Research: It involves describing and analyzing data
to answer specific questions.
 - Experimental Research: This type tests cause-and-effect
5: Types of relationships through controlled experiments.
 - Case Study Research: It entails an in-depth analysis of a specific
Research instance, often used in real-world business scenarios to understand
complex issues.
 - Example: Suppose a company wants to launch a new product in a
foreign market. Initially, they might conduct exploratory research to
understand the market's culture and consumer behavior. Later, they
might use descriptive research to gather data on customer
preferences and experiment with different marketing strategies.
 Descriptive Research Analytical Research
Seeks to understand underlying causes or
Describes characteristics or relationships.
factors.
Identifies reasons or causes behind a
Provides an accurate portrayal of a situation.
phenomenon.
Explanatory research, causal-comparative
Surveys, case studies.
studies.

Applied Research Fundamental Research

Focuses on solving practical problems. Driven by curiosity, pursuit of knowledge.
Addresses specific issues with practical Expands knowledge without immediate
solutions. application.
5: Types of Product development research, policy analysis. Basic scientific research, theoretical studies.

Research Conceptual Research

Theoretical exploration of concepts and ideas.
Empirical Research
Relies on observation or experimentation.
Develops new theories or conceptual
Tests existing theories through data collection.
frameworks.
Theoretical papers, literature reviews. Experimental studies, observational research.

Conclusion-oriented Research Decision-oriented Research

Aims to draw conclusions or contribute to Aims to provide information for decision-
knowledge. making.
Focuses on theoretical implications. Directly informs practical decisions or actions.
Market research, policy analysis, operational
Theoretical studies, academic research.
studies.
 Quantitative Research Qualitative Research
Involves numerical data analysis. Explores non-numerical data for insights.
Tests hypotheses, identifies patterns. Explores meanings, motivations, experiences.
Surveys, experiments, statistical analysis. Interviews, focus groups, content analysis.

Cross-Sectional Research Longitudinal Research

Data collected over an extended period,
Data collected at a single point in time.
multiple points.
Examines a snapshot of a population. Studies changes or developments over time.

5: Types of Surveys, opinion polls. Cohort studies, panel studies.

Research Field Research

Conducted in real-world environments.
Laboratory Research
Conducted in controlled, artificial
environments.
Less control over variables. High control over variables.
Experiments conducted in a controlled lab
Observational studies in natural settings.
environment.

Clinical Research Diagnostic Research

Aims to identify and develop diagnostic tools
Investigates health-related interventions.
or methods.
Often conducted in clinical settings or with Can be conducted in clinical or laboratory
patients. settings.
Clinical trials for new drugs. Development of diagnostic tests for diseases.
  - Quantitative Research: This approach relies on numerical data
and statistical analysis to measure and quantify trends, making it
suitable for hypothesis testing and statistical modeling.
 - Qualitative Research: Qualitative research focuses on
6: Research understanding experiences, motivations, and behaviors through
Approaches open-ended interviews, observations, or content analysis.
 - Example: To assess employee satisfaction, quantitative research
might involve a structured survey with rating scales, while
qualitative research could use in-depth interviews to understand the
underlying reasons behind job satisfaction or dissatisfaction.
  - Research is essential in the business world because it guides
decision-making, promotes innovation, and helps solve complex
7: Significance problems by providing data-driven insights.

of Research  - Example: Google's extensive research on user behavior and search

patterns allowed them to create algorithms that deliver highly
relevant search results, revolutionizing the internet search industry.
  - Research methods are specific techniques used to gather and
analyze data, while research methodology encompasses the entire
8: Research framework of the research process, including problem formulation,
data collection, and analysis.
Methods
versus  - Example: In a research study on customer satisfaction, the method
might involve conducting surveys using a Likert scale, while the
Methodology methodology includes the overall research design, including the
choice of data sources, sampling methods, and data analysis
techniques.
 Aspect Library Research Field Research Laboratory Research
Examining existing Controlled experiments
Direct data collection in
Definition literature and in a laboratory
natural settings.
documents. environment.
Literature review, Experimental design,
Observation, interviews,
Methods content analysis, data collection,
surveys.
historical research. statistical analysis.
Accessing libraries, Natural environment Controlled and artificial
Setting archives, online where the phenomenon environment
databases. occurs. (laboratory).
Establishing theoretical Studying social Testing hypotheses,
Applications frameworks, identifying behaviors, cultural studying biological or

Research gaps. practices.

Allows for direct
physical phenomena.
Precise control over
Efficient for background interaction and
Methods Advantages
information and theory. understanding of
context.
variables, testing causal
relationships.
Limited to existing data, Practical challenges in Artificial setting may not
Challenges potential for bias in data collection, potential fully represent real-
sources. for observer bias. world conditions.
Experiments in
Literature reviews, Ethnographic studies,
Examples psychology, biology,
content analyses. surveys, interviews.
physics.
  - Research often follows the scientific method, which involves
formulating hypotheses, conducting experiments or observations,
9: Research collecting data, and drawing conclusions.
and Scientific  - Example: In the development of a new pharmaceutical drug, the
scientific method is used to test the drug's effectiveness through
Method controlled experiments, ensuring it meets safety and efficacy
standards.
10: Importance  - Understanding research methodology is crucial for business
professionals as it enables them to make informed decisions,
of Knowing innovate, and adapt to changing market conditions.

How Research  - Example: Successful business leaders like Elon Musk emphasize
the importance of research in areas like electric vehicle technology
is Done and space exploration, driving advancements in these industries.
  - The research process step by step:
 1. Problem Identification: Recognize a research question or issue.
 2. Literature Review: Analyze existing research and knowledge.
 3. Research Design: Plan how to conduct the study.
 4. Data Collection: Gather relevant data.
11: Research
 5. Data Analysis: Analyze and interpret the data.
Process  6. Conclusion and Recommendations: Draw conclusions and
make recommendations.
 - Example: In researching customer preferences for eco-friendly
packaging, the process starts with identifying the problem (e.g., a
need for sustainable packaging options) and progresses through
each stage to provide actionable insights for product development.
11: Research
Process
 Typical Realistic

The research
process –
Quantitative
research

17
 Typical Realistic

The research
process –
Qualitative
research

18
  - Good research should meet certain criteria, such as
 validity (accuracy of results)
 reliability (consistency of results) and
 relevance (applicability to the research question).
 - Example: In a market research study, data should be valid and
reliable to ensure that the findings accurately represent consumer
preferences and can be used for effective decision-making.
12: Criteria of
 Reliable
Good Research Research should be:  Ethical
 Stimulating
 Evidential
 Arduous
 Rewarding
 Conscientious
 Handled
13: Problems  - Researchers in India may face unique challenges such as limited
access to data, cultural considerations affecting research design, and
Encountered constraints related to funding and resources.

by Researchers  - Example: Researchers studying the impact of cultural diversity on

team dynamics in Indian workplaces may need to navigate sensitive
in India cultural nuances in their research approach.
  - Ethical considerations are critical in research to ensure the rights
and well-being of participants are protected, and research is
14: Research conducted with integrity.

Ethics  - Example: The Enron scandal underscores the importance of

ethical research practices, as unethical behavior can have severe
consequences in corporate governance studies.
  - Modern research tools and software (e.g., SPSS, NVivo,
15: Research Qualtrics).

Tools  - Example: Social media sentiment analysis tools like Brandwatch

help businesses understand public perception.
  - Real-world examples of how research methodology is applied in
business:
 - Product development
16: Practical  - Market analysis

Applications  - Consumer behavior studies

 - Competitive intelligence
 - Example: Apple uses extensive consumer research to develop
user-friendly products like the iPhone.
  - Discuss common challenges such as data quality, bias, and time
17: Challenges constraints.

in Research  - Example: A business that didn't consider customer feedback faced

a product failure due to inadequate research.
  - A research problem is a specific issue or question that a researcher
18: What is a aims to address through systematic investigation. It defines the
scope and purpose of the research.
Research  - Example: In a business context, a research problem could be
Problem? "What are the factors influencing customer churn in our
subscription-based service?"
  - Selecting the right research problem is crucial. It should be
relevant, significant, feasible, and aligned with the researcher's
19: Selecting interests and expertise.

the Problem  - Example: If a company is experiencing declining sales, selecting

the problem of "identifying the causes of the decline" would be a
relevant and significant research problem.
  - Defining the research problem clearly ensures that the research
20: Necessity stays focused and results in meaningful findings. It prevents the
study from becoming too broad or too vague.
of Defining the  - Example: Without a well-defined problem, a study on "consumer
Problem preferences" may lack direction and fail to provide actionable
insights.
  - Defining a research problem involves techniques like literature
21: Technique review, brainstorming, and discussions with experts or
Involved in stakeholders. It helps narrow down the problem and identify gaps
in knowledge.
Defining a  - Example: Before defining a problem, a researcher might conduct a
literature review to see what previous studies have explored and
Problem identify areas where further investigation is needed.
21: Q&A
?
Thank You