Importance of Management Research

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1.Discuss the importance of Management Research?

Today’s managers have a growing need to understand scientific findings and incorporate them into decision making. Research always facilitates effective management. At many government organizations research drives every aspect of major decision making. In some organizations, research is so fundamental that management makes hardly any significant decision without the benefit of some kind of research.

The prime managerial value of management research is that it reduces uncertainty by providing information that improves the decision-making process. The decision –making process associated with the development and implementation of a strategy involves four interrelated stages.

1) Identifying problems or opportunities
2) Diagnosing and assessing problems or opportunities 3) Selecting and implementing a course of action
4) Evaluating the course of action

Management research, by supplying managers with pertinent information, may play an important role by reducing managerial uncertainty in each of these stages.

2.Briefly explain the process of a research?

The process of a research can be divided into stages. The number of stages identified also varies from one account to another. At a minimum, stages of the scientific method will include

1. The idea, question, or problem
2. Development of the research design (Specific research questions or hypotheses) 3. Data collection and observations; and
4. Data analysis and interpretation

The first step in any research project is to define the problem or opportunity. Decision makers must express their objectives to researchers to avoid getting the right answer to the wrong question. Defining the problem is often complicated in that portions of the problem may be hidden from view. The research must help management help management isolate and identify the problem to ensure that the real problem, rather than a symptom, is investigated. A variable is anything that changes in value. Variables may be categorical or continuous. One aspect of problem definition is the identification of the key dependent and independent variables.

If the problem is in area in which the investigators have previously conducted research, they may move quickly to the development of the basic research proposal with its specific plans and budget. However, the problem posed above is not likely to be so easy to solve. In this ill-defined, complex situation the researchers might propose a different approach. (a) Two-Stage Approach

Using this format, the researchers break away the exploration stage as a separate study for the clear definition of the problem and the appropriate type and scope of research. This first, exploratory, stage is usually proposed as a preliminary, definitional study of limited scope and budget. The amount of exploration should depend on the researchers’ general level of knowledge of the subject under study.

(b) Exploratory Steps
An exploration typically begins with a search of published data. In addition, the researchers often seek out well-informed people on the topic, especially those who have clearly stated positions on controversial aspects of the problem and those who might have been exposed potentially important variables.

2.0Development of Design

At this point the development of the formal research design begins. The research questions are set, and the general-level investigative questions have been derived. These may be stated in the form of hypotheses to be tested or questions to be answered. The classical form, of course, is the hypothesis.

The steps involved in the designing of a study depend to some extent on the nature of the specific project. As a general procedure, however, the following steps are common.

1. The major concepts or constructs to be used in the study are defined. Further operational definitions emerge as the design process continues....
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