MGT-491 QUANTITATIVE ANALYSIS AND RESEARCH FOR MANAGEMENT OSMAN BIN SAIF.

MGT-491QUANTITATIVE ANALYSIS AND RESEARCH FOR

MANAGEMENT

OSMAN BIN SAIF

Self Introduction

• Finance Graduate;– MSC. Accounting and Finance (University of Exeter, UK)– MBA- Finance (SZABIST, Islamabad)– Certified Financial Consultant (IFC , Canada)– Certifications in Project Management, Monitoring and

Evaluation and Research Policy Development.• Consultant with SDPI• Senior Researcher with TP WING, MOC• Visiting Faculty various universities and institutes.

Course Objective

• To familiarize students with the types of business problems often faced by corporate entities and to help them develop insights about basic concepts of research designs and methodology aimed at solving business problems.

Course Objective (Contd.)

• To help students develop skills in structuring and analyzing, various Business Research problems, for managerial decisions, using basic Quantitative tools and techniques.

Course Description

• Business research is a systematic inquiry, whose objective is to provide information, to solve managerial problems. This course is an introduction on how to do business research, with an emphasis on applied problem solving. This course has a major focus on problem identification, analysis and problem solving strategies and techniques.

Intended Learning Outcomes

• Upon completion of this course you should be able to:– Clearly identify and analyze business problems

and identify appropriate and effective ways to– answer those problems– Understand and apply the major types of research

designs

Intended Learning Outcomes (Contd.)

– Formulate clearly defined research questions– Analyze and summarize key issues and themes

from existing literature– Evaluate and conduct research.

Intended Learning Outcomes (Contd.)

– Understand the ethical issues associated with the conduct of research

– Be able to formulate and present effective research reports.

Brief Course Contents

1. Section 1; Introduction to Business Research and research design

1. Nature and Scope of Business research2. Information based decision making3. The research process4. Basic approaches and terminologies used5. Defining research question6. Framing of Hypothesis

Brief Course Contents (Contd.)

• Section 1; Introduction to Business Research and research design (Contd.)7. Preparing research plan8. Qualitative research designs9. Sources of secondary data10. Case review and analysis


2. Section 2; Measurement and Scaling, data Source and Data Collection

1. Primary Data Collection from observations2. Surveys and Experimentation3. Commonly used scales in business research4. Checking reliability and validity of scales


2. Section 2; Measurement and Scaling, data Source and Data Collection

5. Designing instrument for data collection6. Testing the instrument7. Data collection process8. Sampling methods and procedures9. Sample size decisions10. Case review and analysis


3. Section 3; Data Analysis and Presentation1. Editing and Coding of Data2. Tabulation3. Graphic presentation4. Cross tabulation5. Testing of Hypothesis6. Type I and II errors


• Section 3; Data Analysis and Presentation (Contd.)7. One tailed and two tailed test of significance8. Test of association9. Simple Linear regression10. Research report Writing11. Case review and analysis


4. Section 4; Business Research Problems1. Nature of business research problems2. Steps in solving business research problems3. Solutions through graphical method4. Formulation of Linear programming equation5. Introduction to sensitivity analysis

Recommended Reading text book;

Research methodology and Operations ResearchPublished By: PEARSON EDUCATIONAuthors: Hamdy A. Taha, Mark N.K. Saunders

Section 1; Introduction to Business Research and Research design

Knowledge

• Knowledge is a collection of facts, information and skills acquired through;– experience or – education

• or (more generally) the theoretical or practical understanding of a subject is called knowledge.

Knowledge (Contd.)

• It can be – implicit (as with practical skill or expertise) or – explicit (as with the theoretical understanding of a

subject); • and it can be more or less formal or systematic

Theory

• Theory is the conclusion we make through general observations. We then verify the validity of the particular theory by using data we have collected.

Theory (Contd.)

• If the data analyzed verify the validity of the theory, then the theory becomes a law. This law will be embraced until there is a competing theory that states otherwise.

Theory (Contd.)

• A theory is a coherent set of general propositions used as principles to explain the apparent relationships of certain observed phenomena.

Research

• Research can be defined as the search for knowledge , or as any systematic investigation, with an open mind to; – establish novel facts, – solve new or existing problems, – prove new ideas, or – develop new theories,

usually using a scientific method.

Research (Contd.)

• Research in common parlance refers to a search for knowledge.

• Research can also be defined as “An art of scientific investigation”.

Research (Contd.)

• Research is the process of gathering the information needed, to answer certain questions and thereby helping in solving problems faced by an;– individual, – firm, – organization – society.

Research? (Contd.)

• Therefore, research is something which people undertake to find out something in a systematic way, thereby increasing their knowledge. It is a primary tool used in virtually all areas of science to expand the frontiers of knowledge.

Objective of Research

• The purpose of research is to discover answers to questions through the application of scientific procedures.

Objective of Research

• The main aim of research is to find out the truth which is hidden and which has not been discovered as yet.

Nature and Scope of Business Research

1. Research: “A way of examining your practice”– Research is undertaken within most professions.– More than a set of skills, research is a way of

thinking– Examining critically the various aspects of your

day-to-day professional work

Nature and Scope of Business Research (Contd.)

– Understanding and formulating guiding principles that govern a particular procedure

– Developing and testing new theories– It is also a habit of questioning what you do and a

systematic examination of the observed information to find answers.


• Example 1: Health Service– You: Front line service provider, Supervisor, health

administrator/ planner– Questions:• How many patients do I see everyday?• What are some of the most common conditions

prevalent among my patients?• What are the causes of these conditions?


– Questions:• What are the health needs of the community?• Why do some people use the service while others do

not?• What do people think about the services?• How satisfied are patients with the service?• How effective is the service?• How can the service be improved?


• Example 2: Business Marketing– You: Salesperson, Sales manager or Sales

promotion executive– Questions:• What is the best strategy to promote the sale of a

particular product?• How many salespersons do I need?• What is the effect of a particular advertising campaign

on the sale of this product?


– Questions:• How satisfied are the consumers with this product?• How much are consumers prepared to spend on this

item?• What do consumers like or dislike about this product?• What type of packaging do consumers prefer for this

product?


• Example 3: – You: As a professional– Questions:• Which is the most effective intervention for a particular

problem?• What causes X or what are the effects of Y?• What is the relationship between the two

phenomenon?


– Questions:• How do I measure self esteem of my clients?• How do I ascertain the validity of my questionnaire?• Which is the best way of finding out community

attitudes towards an issue?• Which is the best way to find out the effectiveness of a

particular treatment?• How can I select an unbiased sample?

Motivation for Research

• What makes people to undertake research? This is a question of fundamental importance. The possible motives for doing research may be either one or more of the following:1. Desire to get a research degree along with its

consequential benefits;

Motivation for Research (Contd.)

2. Desire to face the challenge in solving the unsolved problems, i.e., concern over practical problems initiates research;

3. Desire to get intellectual joy of doing some creative work;

4. Desire to be of service to society;5. Desire to get respectability

Research Problem

• A research problem refers to a difficulty which a researcher or a scientific community or an industry or a government organization or a society experiences. It calls for a thorough understanding and possible solution.

Types of Research

• The basic types of research are as follows:1. Descriptive vs. Analytical2. Applied vs. Fundamental3. Quantitative vs. Qualitative4. Conceptual vs. Empirical

Types of Research (Contd.)

5. Some Other Types of ResearchI. One-time research or longitudinal researchII. Field-setting research or laboratory research or

simulation researchIII. Clinical or diagnostic researchIV. Historical researchV. Conclusion-oriented researchVI. Decision-oriented research.

Descriptive Research

• Descriptive research includes surveys and fact-finding enquiries of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present

Descriptive Research (Contd.)

• In social science and business research we quite often use the term Ex post facto research for descriptive research studies. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening.

Analytical Research

• In analytical research, on the other hand, the researcher has to use facts or information already available, and analyze these to make a critical evaluation of the material.

Applied Research

• Applied research aims at finding a solution for an immediate problem facing a society or an industrial/business organization.

• It is also called action research.

Fundamental research

• Fundamental research is mainly concerned with generalizations and with the formulation of a theory.

• It is also called basic or pure research.• Testing a theory or conforming to the laws.

Quantitative research

• Quantitative research is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity. When reporting an event or situation and describing it.

Qualitative research

• Qualitative research, on the other hand, is concerned with qualitative phenomenon, i.e., phenomena relating to or involving quality or kind. For instance, when we are interested in investigating the reasons for human behavior. Or when analyzing a degree of variation between two events or situations.

Conceptual research

• Conceptual research is that related to some abstract idea(s) or theory. It is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones.

Empirical research

• Empirical research relies on experience or observation alone, often without due regard for system and theory. It is data-based research, coming up with conclusions which are capable of being verified by observation or experiment.

One time research

• Research is confined to a single time-period.

Longitudinal research

• Research is carried on over several time-periods.

Field-setting research or Laboratory research or Simulation research

• Depends upon the environment in which it is to be carried out.

• Physical experimentation.

Clinical or Diagnostic research

• Research follow case-study methods or in-depth approaches to reach the basic causal relations. Such studies usually go deep into the causes of things or events that interest us, using very small samples and very deep probing data gathering devices.

Historical Research

• It is a type which utilizes historical sources like documents, remains, etc. to study events or ideas of the past, including the philosophy of persons and groups at any remote point of time.

Conclusion oriented research

• Doing conclusion oriented research, a researcher is free to pick up a problem, redesign the enquiry as he proceeds and is prepared to conceptualize as he wishes.

Decision-oriented research

• Decision-oriented research is always for the need of a decision maker and the researcher in this case is not free to embark upon research according to his own inclination.

Decision-oriented research

• Operations research is an example of decision oriented research since it is a scientific method of providing executive departments with a quantitative basis for decisions regarding operations under their control.

• It is of fundamental importance in business research.

Characteristics of Research

1. Controlled;– Cause and Effect relationship between the two

variable is not effected by another independent variable. It is possible in physical experiments e.g. Laboratory experiments but not possible in social sciences.

2. Rigorous;– It is ensured that the procedures followed to find

answers to the questions are relevant, appropriate and just. A degree of rigor varies depending on the type of experiment.

Characteristics of Research (Contd.)

3. Systematic;– This implies that the procedures adopted to

undertake an investigation follows certain logical sequence.

4. Valid and Verifiable;– This concept implies that, whatever you conclude

on the basis of your findings is correct and can be verified by you and others.

Characteristics of Research (Contd.)

5. Empirical;– This means that any conclusions drawn are based

upon hard evidence gathered from information collected from real life experiences and observation.

6. Critical;– Critical scrutiny of the procedures used and the

methods employed is crucial to research inquiry.

Summary of Today’s Lecture

• Introduction• Brief contents of the Course• Our Course Objective• What is knowledge and Theory?• Why Research?• What is research problem?• Types of Research

Summary of Today’s Lecture (Contd.)

• Characteristics of Research

Thanks

MGT-491 QUANTITATIVE ANALYSIS AND RESEARCH FOR MANAGEMENT OSMAN BIN SAIF.

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