An overview of Research Methodology
Research defines as a scientific and systematic search for pertinent information on a specific topic . In fact, research is an art of scientific investigation.
The term research refers to the systematic method consisting of enunciating the problem, formulating a hypothesis , collecting the facts or data , analyzing the facts and reaching the certain conclusions either in the form of solutions toward the concerned problems or in certain generalizations for some theoretical formulations
It is actually a voyage of discovery
To gain familiarity with a phenomenon or to achieve new insights into the object-( termed a exploratory or formulative research studies)
To portray accurately the characteristics of a particular individual , situation or a group- termed as descriptive research studies.
To determine the frequency with which something occur s or with which it is associated with something else (studies with this object in view are knows a s diagnostic research studies
To test a hypothesis of a causal relationship between variables (such studies r known as hypothesis-testing research studies Significance of Research
In the field of applied economics whether related to business or to the country as a whole. – increasingly complex nature of business , as an aid to economic policy both for government and business. Provides the basis for nearly all government policies in our economic system- govt. budgets, basis for policy development Special significance in solving various operational and planning problems of business and industry . operational research, marketing research. and along with motivational research is considered crucial that results in business decision making. Equally important for social scientists in studying social relationships and seeking answer to the various social problem.
Basic Types of Research
Descriptive vs. Analytical:
Descriptive research includes surveys and fact-findings enquiries of different kinds for the purpose of description of the state of affairs as it exist at present.
Case Ref: HRM Practice in Grameen Phone for Employee Retention On the other hand Analytical research use facts or information that already available , and analyze these to make a critical evaluation of the material.
Case Ref: Performance Measurement or business and its activity. Applied vs. Fundamental:
Applied research aims at finding a solution for and immediate problem facing a society or an industry or business., Case Ref: Applied research in complex accounting and reporting issue Where as fundamental research is mainly concerned with generalizations and with the formulation of a theory. Case Ref. Educational Research Quantitative vs. Qualitative:
Quantitative research based on the measurement of quantity or amount. Case Ref. Population Survey or CENSUS Qualitative research is concerned with qualitative phenomenon, i.e. . Relating to or involving quality or kind ex. Case Ref. Population Survey, Human behavior or job satisfactions. Concept vs. Empirical:
Conceptual research is related to some abstract ideas or reinterpret existing ones. Case Ref. New Product / Business Development On the other hand Empirical research relies on experience or observation alone Case Ref. Empirical Inquires and Investigation on various case Study. Others Research:
Field research, laboratory research, historical research etc.
is a way to systematically solve the research problem.
It may be understood as a science of studying how research is done scientifically, where we study the various steps or that are generally adopted by a researcher in studying the problem along with logic behind them.
The researcher should know not only the methods/technique but also the methodology. Researcher not only need to know how to develop certain indices or tests, how to calculate the mean, median, mode, SD but they also...
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