Decision+Making+and+Types+of+Research

7/30/2019 Decision+Making+and+Types+of+Research

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Decision making,

Types of Research And

Research Process

Evneet kaur M-com(e-commerce)

Sem 1


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Decision making

Decision making is the process ofresolving a problem or choosingamong alternative opportunities.

Decision makers must recognizethe nature of problem/opportunity ,identify how much information isavailable and recognize whatinformation is needed.


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To facilitate decision , the scaleshows three categories:

Certainty

Uncertainty

Ambiguity


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Certainty - meaning

complete certainty means that thedecision maker has all the

information that he or she needs.ifa manager is completely certainabout both the

problem/opportunity and futureoutcomes , then research may notbe needed at all.


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Uncertainty - meaning

Uncertainty means thatmanagers grasp the general

nature of the objectives theywish to achieve , but theinformation about alternative is

incomplete.


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Ambiguity meaning

Ambiguity means that the nature ofthe problem to be solved is

unclear. The objectives are vagueand the alternatives are difficult todefine.

This is by far the most difficultdecision situation.


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Business research- meaning

Business research is definedas the systematic and objective

process of gathering ,recording and analysing datafor aid in making business

decision.


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TYPES OF RESEARCH

TYPESOF

RESEARCH

EXPLORATORYRESEARCH

DESCRIPTIVERESEARCH

CAUSALRESEARCH

TYPESOF

RESEARCH

EXPLORATORYRESEARCH

DESCRIPTIVERESEARCH

CAUSALRESEARCH


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Exploratory research

Exploratory research is theinitial research conducted to

clarify and define the nature ofa problem.

It is not conducted to provideconclusive evidence but toclarify problems.


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Example

In an organizationconsidering aprogram to help employees withchild care needs ,exploratory

research with a small number ofemployees who have childrenmight determine that many of themhave spouses who also work and

that these employees have positivereactions to possibility of an childcare program.


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Descriptive research

This research is conductedwhen there is some

understanding of the nature ofthe problem ;such research isused to provide a more specific

description of the problem.


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Example

A university career placementservice may want to determine ifits facilities are adequate. A

descriptive study might be initiatedto determine how many interviewseach student wants to schedule,whether students are able to

schedule appointments withcertain desirable organizations.


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Causal research

Research conducted to identifycause and effect relationship

among variables when theresearch problem has alreadybeen narrowly defined.


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Example

A typical causal study hasmanagement change one

variable (eg- training) and thenobserve the effect on anothervariable (eg- productivity).


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PHASES OF RESEARCH PROCESS

PLANNING ARESEARCH

DESIGN

FORMULATINGCONCLUSIONS AND

PREPARINGA REPORT

DEFINING THEPROBLEM

PLANNING ASAMPLE

GATHERINGTHE DATA

PROCESSING &ANALYSINGTHE DATA


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PROBLEM DISCOVERY ANDDEFINATION

PROBLEM DISCOVERY

SELECTION OF EXPLORATORY

RESEARCH TECHNIQUE

Secondary

data

Pilot

Study

Experience

survey

Case

study


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Problem discovery & definition The researcher process begins with

problem discovery and identifying the problem which is the first step

toward its solution. It is said that A problem well defined is half solved

Exploratory research Research conducted during the

initial stage of research process. After such exploration

the researchers should know exactly what data to collect

during the formal project and how the project will be

conducted.

Secondary data analysis secondary data is data that

have been previously collected for some project other

than the one at hand.It can be collected within the

company, in the library , internet etc. Pilot study Pilot study means any small scale

exploratory research technique that uses sampling but

does not apply Rigrous standards


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PLANNING THE RESEARCH DESIGN

SELECTION OF BASIC RESEARCH METHOD

SecondaryData study

Experiment Survey

Observation

laboratory Field Interview questionnaire

Pl i th h d i h d i i


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Planning the research design a research design is amaster plan specifying the methods and proceduresfor collecting and analyzing the needed information.

Surveys A Survey is a research technique in which information isgathered from a sample of people using a questionnaire orinterviews.

Experiments Business experiments hold the greatest importancefor establishing cause and effect relationships. The use ofexperimentation allows investigation of changes in one variablesuch as productivity while manipulating one or two other variables.

Secondary data studies Like Exploratory research , descriptiveand causal studies use previously collected data . For example- Todevelop a mathematical model in order to predict sales on thebasis of co-relation with related variables.

Observation technique In many situations the objective of aresearch project is merely to record what can be observed. Forexample- The amount of time it takes an employee to perform atask may be observed in a time and motion study.


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PLANNING A SAMPLE

SELECTION OF SAMPLE DESIGN

Probabilitysampling

Non probabilitysampling

Sampling It involves any procedure that uses


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Sampling

It involves any procedure that usesa small number of items or a portion of a

population to make a conclusion regarding the

whole population.

Probability sample A probability sample is defined

as a sample in which every member of populationhas a known , non zero probability of selection.

Non- probability sample-- if sample units areselected on the basis of personal judgment , thesample method is non probability sample.


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DATA GATHERING

GATHERING OF DATA

Collection of data

Editing and coding of data


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Gathering of data the next step is togather/collect data from respondents.

Editing and Coding of data---

Editing of data Editing involves checking the data

collection forms for omissions, legibility andconsistency in classification.

Coding of data codes are the rules for interpreting ,

categorizing and recording the data.


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DATA PROCESSING AND ANALYSIS

PROCESSING OF DATA

ANALYSIS OF DATA( Detailed study)


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Processing and analyzing data

Analysis The word analysis meansdetailed study. Analysis is theapplication of reasoning to understand

and interpret the data that have beencollected.


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DRAWING CONCLUSIONS ANDPREPARING REPORT

DRAWING CONCLUSINS AND PREPARING REPORT

INTERPRETATIONS OF FINDINGS

PREPARING A REPORT


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Drawing conclusions and preparing a report

Drawing conclusions the purpose ofresearch is to make a business decision. Thefinal stage in the research process is to

interpret the information and drawconclusion relevant to managerial decisions.

Preparing a report The last step is to makereport on findings of research process and

then apply those findings in taking businessdecisions.


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Case Study

You work for a corporation that is considering theacquisition of a toy manufacturer. The senior vice

president for development asks you to head a taskforce to investigate six companies that are potentialcandidates. You assemble a team composed ofrepresentatives from the relevant functional areas.Pertinent data are collected from public sources

because of the sensitive nature of the project. Youexamine all the following company annual reports,articles in business, journal, trade magazines ,newspapers, firm analysis assessments and

company advertisements.


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Case study (cont.)

The team members than develop summary profiles of thecandidate firms based on the characteristics gleaned fromthe sources. The final report highlights the opportunitiesand problem that acquisition of the target firm would

bring to all areas of the business.

Now try to answer these questions.

What is the decision making dilemma facing themanager?

What must the researcher accomplish?

source

Cooper.R. Donaland

Business Research Methodology


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References

Cooper. R . Donaland. , Schindler.S.Pamela. Businessresearch methodology. Tata McGraw- hill edition. New

Delhi.

Zikamund. William. G. business research methods.Cengage learning India private limited. New Delhi.

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