Master of Business Administration
MB0050 – Research Methodology- 4 Credits
(Book ID: B1206)
Assignment Set- 1 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions
Q1. Why should a manger know about research when the job entails managing people, products, events, environments, and the like? [10 Marks]
Answer: Research simply means a search for facts – answers to questions and solutions to problems.Itis a purposiveinvestigation. It is an organized inquiry. It seeks tofind explanations tounexplained phenomenon to clarify the doubtful facts and to correctthemisconceivedfacts.Research is the organized and systematic inquiry or investigation which provides information for solving a problem or finding answers to a complex issue.
Research in business:
Often, organization members want to know everything about their products, services, programs, etc. Your research plans depend on what information you need to collect in order to make major decisions about a product, service, program, etc. Researchprovidestheneededinformation that guides managers to make informed decisions to successfully deal withproblems.The more focused you are about your resources, products, events and environments what you want to gain by your research, the more effective and efficient you can be in your research, the shorter the time it will take you and ultimately the less it will cost you.
Manager’s role in research programs of a company:
Managing people is only a fraction of a manager's responsibility - they have to manage the operations of the department, and often have responsibilities towards the profitability of the organization. Knowledge of research can be very helpful for a good manager. The manager, while managing people, products, events, and environments will invariably face problems, big and small, and will have to seek ways to find long lasting effective solutions. This can be achieved only through knowledge of research even if consultants are engaged to solve problems.
The primary purpose for applied research (as opposed to basic research) is discovering, interpreting, and the development of methods and systems for the advancement of human knowledge on a wide variety of scientific matters of our world and the universe. Research can use the scientific method, but need not do so. The goal of the research process is to produce new knowledge, which takes three main forms (although, as previously discussed, the boundaries between them may be fuzzy):
Exploratory research, which structures and identifies new problems Constructive research, which develops solutions to a problem .Empirical research, which tests the feasibility of a solution using empirical evidence The research room at the New York Public Library, an example of secondary research in progress. Research can also fall into two distinct types:
In social sciences and later in other disciplines, the following two research methods can be applied, depending on the properties of the subject matter and on the objective of the research: Qualitativeresearch
Research is often conducted using the hourglass model Structure of Research. The hourglass model starts with a broad spectrum for research, focusing in on the required information through the methodology of the project (like the neck of the hourglass), then expands the research in the form of discussion and results. Research and development is nowadays of great importance in business as the level of competition, production processes and methods are rapidly increasing. It is of special importance in the field of marketing where companies keep an eagle eye on competitors and customers in order to keep pace with modern trends and analyze the needs, demands and desires of their customers. Unfortunately, research and development are very difficult to manage, since the...
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