research methodology

Slide 1

MBA 201RESEARCH METHODS FOR MANAGERSUNIT 1

Research :Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.

BUSINESS RESEARCHBusiness research is an organized, systematic, data-based, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it.

Various StepsFirst step is to know where the problem areas exist in the organization. To identify as clearly and specifically as possible the problems to be studied and resolved.Gather data, analyze data and generate information. Determine the factors that are associated with the problem. Identify solutions Decision making and ResearchDecision making is merely a process of choosing from among alternative solutions to solve a problem and research helps to generate viable alternatives for effective decision making. Why managers should learn researchResearch is simply the process of finding solutions to a problem after a thorough study and analysis of the situational factors. Managers in organizations constantly engage themselves in studying and analyzing issues and hence involved in some form of research activity as they make decision at work place. To be a successful manager, it is important for you to know how to go about making right decision by being knowledgeable about the various steps involved in finding solutions to problematic issues.

MANAGER AND RESEARCHResearch knowledge helps managersSolve problem in work settingTake calculated risk in decision making. Deal with hired researchers and consultants more effectivelyCombine experience with scientific knowledge in decision makingKnow how to discriminate good from bad research

Commonly researched areas in BusinessAccountingBudget control system, practices and procedures Inventory costing methodsAccelerated depreciationTime series behavior of quarterly earnings

FinanceThe operations of financial institutionsOptimum financial ratiosThe behavior of the stock exchanges

ManagementEmployee activities and behaviorsHuman resources managementImpact of Changing demographics on management practicesProduction operations managementStrategy formulation

MarketingIssues pertaining to product imageAdvertisingSales promotionDistributionPackagingPricingAfter sales serviceConsumer preferencesNew product developmentTypes of Business ResearchApplied Research Basic Research /fundamental or pure researchApplied researchResearch done with the intension of applying the results of the findings to solve problem currently being experienced in the organization is called Applied Research.Eg: Manager wants to know why a particular product to selling well. Basic ResearchResearch undertaken to generate a body of knowledge to enhance understanding of certain problems that commonly occur in organizational settings and seek methods of solving them is called basic research. Eg: University professors may be interested to investigate the factors that contribute to absenteeism as a matter of academic interest. The Manager and the Consultant / ResearcherA manager often needs to engage a consultant to study complex and time- consuming problems. How to locate a consultant / ResearcherConsulting firms listed in telephone directoriesProfessors in educational institutions who do organisational consulting can be contacted. Credential of experts in consulting firms can be obtained and identify the suitable consultants. Manager should make sure while hiring researchers or consultantsRoles and expectation of both parties are made explicitRelevant philosophies and value systems of the organization are clearly stated and constraints if any, communicated.A good rapport is established with the researcher and between researchers and the employees in the organisation, enabling the full cooperation.Types of ConsultantsInternal Consultant / ResearcherExternal Consultant / ResearcherInternal consultantOrganisations have their own consulting or Research departments which may be called as management services department. This department serves as internal consultant to the organizational problems. External ConsultantConsultants who have been hired from outside the organisation for studying organisational problems are called external consultants Advantages of Internal ConsultantsBetter acceptance by the employees Team require less time to understand the structure, philosophy, climate and functioning and problems.They are available for implementation after the findings are acceptedCost is less compared to hiring external consultants.Disadvantages of Internal ConsultantsPossibility of stereo typed way of looking at the organisation and its problems.Employees can influence the internal teamInternal staff may not be perceived as an expert by the staff and management. Hence recommendations do not get the attention they deserve organisatilonal biases of the internal team might in some instance make the finding less objective and consequently less scientific

Advantages of External consultantsWide range of experience of the external consultants enable them to think both divergently and convergently rather those hurry to an instant solution on the basis of apparent facts in the situationExternal team consultant have more knowledge of current sophisticated problem solving methods attained through periodical training programmes. Employees cannot influence the external consultantSuggestions get more attention by the management and employeesDisadvantages of External ConsultantCost of hiring is highMore time is required by the external consultant to understand the organization and its problemsThey charge additional fees for their assistance in implementing and execution process. Research knowledge and Managerial effectivenessManagers are responsible for final outcome by making decisions. This is facilitated by research knowledge.A business is controlled by various external and internal factors. Research knowledge helps managers to identify important factors and their extent of influence.Research reports of external consultants prepared with sophisticated tools like simulation and models can be effectively implemented if the manager has good knowledge in researchIn rapidly changing business environment research knowledge helps to enhance decision making skills of the manager.