RESEARCH METHODOLOGY

RESEARCH METHODOLOGY P. Raju Iyer B.Com, FICWA, ACS, MIMA, MPhil, MBA (UK) COST ACCOUNT

DISCUSSION ON • What Research is and How it is defined • Distinguish between Applied & Basic Research • Meaning of Deduction and Induction • Research Process • Research Design • Survey of Literature • Hypothesis & Testing • Sampling & Data collection • Processing Data and Analyzing • Types of Research • Software packages for Statistical Analysis • Research Report

Meaning of Research • An organized, systematic, data-based, critical, scientific inquiry or investigation into a specific problem, undertaken with the objective of finding answers or solutions to it. • Must have a purpose • Undertaken to understand various phenomena • To solve specific problem

RESEARCH METHODOLOGY • Problem Definition • Review of Related Literature • Formulation of Hypothesis • Data Collection • Analyze the Data • Hypotheses Testing • Data Interpretation • Conclusion or Findings

Applied Research – If the purpose is to solve specific problem currently faced by the Organization • Basic or Fundamental Research – To understand various issues in an organization that are likely to crop up. Aim is not to solve the current problem but to generate more understanding about the various areas of interest in an organization.

Scientific Method – pursues a step-by-step, logical, organized method to identify problems, gather and analyze data and draw valid conclusions. • Purposiveness and Rigor • Reliability • Validity • Objectivity • Generalizability • Accuracy and Precision • Parsimony

Steps in Research • Observation • Preliminary information gathering • Theory Formulation • Hypothesizing • Further Scientific Data Collection • Data Analysis • Deduction

DEDUCTION is a form of inference in which we go from a general statement to infer a particular statement. Premise 1 - All ICWAI Final students have Strategic Skills Premise 2 - Vingnesh is a ICWAI Final student Conclusion - Therefore, Vignesh is StrategistFor Deduction to be correct it must be both true and valid. Argument must have formal validity and the premises must be true.

INDUCTION - Arrive at a conclusion based on a number of observations of specific instances.Conclusion explains the facts and the facts support the conclusion. Conclusions are tentative inferential jumps beyond the evidence presented. They are subject to further confirmation that can become true only when more evidence is gathered. Science is full of examples of conclusions abandoned later, when a contradictory new evidence is found.

Research Problem Identification and Statement of the Problem Needs Review of Related Literature Review concepts, theories, and previous Research finds Leads to Formulating Hypotheses RESEARCH PROCESS

If necessary Proceeds to Research DesignDecides sampling design, tool & ProcedureFacilitatesData CollectionEnables Data AnalysisTesting Hypothesis (if Necessary)HelpsInterpretationComparing with previous findingsSuggestsSolution and ConclusionGeneralizations

Statement of Problem Usually implies that a controversy of differences of opinion exists. Problems can be derived from theory, prior research results or personal observations and experiences. Important that the solution to the problem or the answer to the questions can influence education theory or practice. Careful formulations and presentations of the implications or possible applications of knowledge help to give the project and urgency, justifying its worth.

Review of Related Literature • Reports of studies of closely related problems that have been investigated • Design of the study, including procedure employed and data-gathering instruments used • Populations what were sampled and sampling methods employed • Various variables that were defined • Extraneous variables that could have affected the findings • Faults that could have been avoided • Recommendations for further research

The Hypothesis Hypothesis is “a testable statement of potential relationship between two or more variables”. Hypothesis is an assumption to be proved or disproved. Hypothesis is a tentative answer to a question. Formulation of hypothesis in advance of the data gathering process is necessary for unbiased investigations. A good hypothesis • Should be reasonable • Should be consistent with known facts or theories • Should be stated in such a way that it can be tested and found to be probably true or probably false. • Should be stated in the simplest possible terms.

Designing Research Research purpose may be groped into Explorations, Descriptions, Diagnosis and Experimentations. Flexible design which provides opportunity for considering many different aspects of problems is considered appropriate, when the purpose of the study is exploration. When purpose happens to be an accurate description of situation or of an association between variables, the suitable design will be one that minimizes and maximizes the reliability of data collected and analyzed. Experimental design – either informal designs (before-and-after without control, after – only with control, before and after with control) or formal designs (such as completely randomized designs, randomized block designs, Latin square designs, simple and complex factorial design) out of which the researcher must select one for his project.

Guidelines for Research Designs • Means of obtaining Information • Availability and Skills of the Researcher • Organization and reasoning of way of obtaining the Information • Time available for Research • Cost factor relating to Research

Determining Sample Design • Sample Design is a definite plan determines before any are actually collected for from the population. • Samples can be either • Probability samples • Non-probability samples • Collecting the Data • By Observation • Through Personal Interviews • Through Telephone Interviews • By mailing Questioners • Through Schedules • Execution of the Project and Analysis of Data • Hypothesis testing • Preparation of the Report

Processing Data • Data processing is an intermediary stage of work between data collection and data interpretation. • Processing of data requires advance planning. Cover such aspects identification of variables, hypothetical relationship among variables and tentative research hypotheses. • Editing is a process of checking to detect and correct errors and omissions. • Codification and Classification of Data • Transcriptions of Data • Tabulation

Analyzing Data • Critical examination of assembled and grouped data for studying the characteristics of the object under study and for determining the patterns of relationship among the variables relating to it. Quantitative and Non-quantitative methods are used. • Summarizes large mass of data into understandable and meaningful form. • Makes exact descriptions possible • Facilitates identification of casual factors underlying complex phenomena. • Aids the drawing of reliable inferences from observational data. • Making estimations and generalizations from the results of sample surveys.

Measures of Central Tendency • Measures of Dispersion • Measures of Association / Relationship • Standard Error of the Estimate • Hypothesis Testing • ANOVA

Nature of Social Science Researches Sciences are broadly classified into • Natural Science – study natural phenomena. • Physical Sciences • Biological Sciences • Social Science – study phenomena concerning the life of human beings in society. Attempt in a more or less systematic and objective manner, to study • Social systems • Social structures • Political processes • Economic processes

Meaning and Objective of Social Research Encompasses scientific investigation conducted in the field of social and behavioral sciences. • Aims to understand human behavior and its interaction with society and social institutions • Acquire new knowledge in order to gain insights into existing problems • To understand social life to have better control over social behavior • To improve tools of analysis and concepts which will lead to a better understanding of social phenomena.

Limitations of Social Science Research • Social Sciences deals with intangible, non-quantifiable, ever changing, complex social phenomena. • Too big a laboratory for controlling the factors. • Findings are less authoritative. • Generally lacks objectivity – own values and beliefs in interpretation of data. • Guarding against biases and prejudices is rather difficult though possible.

Types of Research • Exploratory / Qualitative – seeks to discover new relationships. • Search of Secondary Data • Survey of knowledgeable • Case Study • Conclusive / Quantitative – designed to help to choose among various possible course action. • Descriptive Research • Experimentation

Case Study Method • Intensive study of a relatively small number of situations. • Features which are common to all cases in the general group • Features which are not common to all cases, but are common to certain sub-groups • Features which are unique to a specific case

Conclusions are formulated from comparisons of these similarities and differences.Design of case studies will be based on the specific objectives of the study and is primarily a question of good judgment in selecting cases to be studied.

Advantages of case study • Inferences are obtained from study of an entire situation, an entity, rather than from study of one or several selected aspects alone. • Description of a real event or situation. • More accurate data are obtained, longer intimate association, greater rapport, reduced reliance on formalized questions and answers.

Disadvantages of case study • Difficult to describe the complete situations, develop formal method of observations. • Lack of objectivity carries over into analysis of case data. Analysis is based on intuition of investigators. • Investigators inclined to generalize. Because sample is usually very small, selected subjectively and tendency exists to select unusual cases, generalizations is dangerous.

The case study method has its greatest value in exploratory research where the objectives is to find hypotheses to be tested by more formal research methods. When data from a case study are classified and summarized, the study becomes statistical rather than case in nature. When this so, Statistical Methods should be used.

Descriptive Research is designed to describe something – characteristics of users given product, degree with which product use varies with income, age, sex, etc. • Statistical Method involves study of a few factors in large number of cases and uses different methods of analysis – averages, percentages, measures of dispersion and more sophisticated statistical procedures. • Experimental Research is the process in which one or more variables are manipulated under conditions which permit the collection of data which show the effects, if any, of such variables in an unconfused fashion. • Laboratory Experiment is where the test subjects are brought to a conference room and exposed to an experimental variable, such as TV commercial. • Field Experiments, the variables are taken to the field – news product to houses, users, etc.

Software packages • SPSS – Statistical Package for the Social Sciences • SAS – SAS Business Intelligence provides the information needed in required format. • STATISTICA • BMDP - Bio Medical Development Program

Research Report • Purpose – to convey the result in sufficient details, so that new findings or new methods of analysis can be incorporated into the general store of knowledge in the area of research.

STYLE • TECHNICAL REPORT • Full written report of the study is required for record keeping or public dissemination. • the method employed • Assumptions made in the course of study • Detailed presentation of the findings including their limitations and supporting data • POPULAR REPORT • Results have policy implications • Emphasis on simplicity and attractiveness • Objectives of study • Recommendations for actions

CONTENTS • Title • Table of contents • Synopsis • Introduction • Methodology • Discussion section • Recommendations and Implementations • Bibliography • Appendix

RESEARCH METHODOLOGY