Business research methods, Schemes and Mind Maps of Business

Download Business research methods and more Schemes and Mind Maps Business in PDF only on Docsity! Research Methods for Business A Skill Building Approach 1 JUNALINE E. SAPARIYA - FACILITATOR Introduction to research 2 DEFINITION OF BUSINESS RESEARCH We can define business research as an organized, systematic, data-based, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with purpose of finding answers or solutions to it. 5 SOMECOMMONLY RESEARCHED AREAS IN BUSINESS 1. Employee behaviors such as performance, absenteeism, and turnover 2. Employee attitudes such as job satisfaction, loyalty, and organizational commitment 3. Supervisory performance, managerial leadership style, and performance appraisal systems. 6 TYPES OF BUSINESS RESEARCH: APPLIEDAND BASIC 1. Applied research Research done with the intention of applying the results of the findings to solve specific problems currently being experienced in an organization 1. Basic research “ fundamental – pure” Research done chiefly to make a contribution to existing knowledge 7 THE MANAGERS – RESEARCHER RELATIONSHIP During their careers, it often becomes necessary for managers to deal with consultants, so while hiring researchers or consultants the manager should make sure that: 1. The roles and expectations of both parties are made explicit. 2. Related philosophies and value systems of organization are clearly stated and constraints, if any, are communicated. 3. A good rapport is established with the researchers, and between the researchers and the employees in the organization, enabling the full cooperation of the latter. 10 INTERNAL CONSULTANTS / RESEARCHERS 1-2 Some organizations have their own consulting or research department, which might be called the management services department, the organization and methods department, R & D department 11 INTERNAL CONSULTANTS / RESEARCHERS 2-2 12 Advantage of internal consultants/ researchers Disadvantage of internalconsultants / researchers 1. Accepted by the employees 2. Less time to understand the structure, work system 3. They are available to implement their recommendations, anddeal with anybugs 4. Lesscost 1. Fall into a stereotyped way of looking 2. Scope of certain powerful 3. Not perceived as “ experts” 4. Biases of the internal research team ETHICS AND BUSINESS RESEARCH 15 Ethics in business research refers to a code of conduct or expected societal norm of behavior while conducting research. Scientific investigation 16 THE HALLMARKS OF SCIENTIFIC RESEARCH1-3 17 1. Purposiveness Started the research with a definite aim or purpose 2. Rigor Rigor connotes carefulness, scrupulousness, and the degree of exactitude in research investigations 3. Testability The manager or researcher develops certain hypotheses on how employee commitment can be enhanced, then these can be tested by applying certain statistical tests to the data collected for the purpose. SOME OBSTACLES TO CONDUCTINGSCIENTIFIC RESEARCH IN THE MANAGEMENTAREA In the management and behavioral areas, it is not always possible to conduct investigations that are 100 % scientific, in the sense that, unlike in the physical sciences, the results obtained will not be exact and error-free. This is primarily because of difficulties likely to be encountered in the measurement and collection of data in the subjective areas of feelings, emotions, attitudes, and perceptions. 20 THE HYPOTHETICO-DEDUCTIVE METHOD 21 Scientific research pursues a step –by- step, logical, organized, and rigorous method to find a solution to a problem THE SEVEN-STEP PROCESS IN THE HYPOTHETICO-DEDUCTIVE METHOD 1-2 22 1. Identify a broad problem area A drop in sales, frequent production interruptions,… and the like, could attract the attention of manager and catalyze the research project 2. Define the problem statement Problem statement that states the general objective of the research should be developed 3. Develop hypotheses In this step variable are examined as to their contribution or influence in explaining why the problem occurs and how it can be solved. 4. Determine measures Unless the variables in the theoretical framework are measured in some way, we will not be able to test our hypotheses. OTHER TYPES OFRESEARCH 25 Case studies and action research are sometimes used to study certain types of issues. Case studies Involve in depth, contextual analyses of similar situations in other organizations. Case study, as a problem solving technique, is not often undertaken in organizations Action research Is sometimes undertaken by consultants who want to initiate change processes in organizations. Thus, action research is a constantly evolving project with interplay among problem, solution, effects or consequences, and new solution. The research process 26 The broad problem area and defining the problem statement The definition of problem is any situation where a gap exists between the actual and the desired ideal states. 27 Example: training program is not as effective as anticipated b) Data nature : 30 Unstructured interviews, structured interviews, and a review through existing sources of information will help us to narrow the broad problem area and to define a specific problem statement. Collection of information’s about the following factors to stand on the real issues instead of working only on the surface symptoms a) Contextual factors ( background information of the organization ) b) Structural factors ( philosophy, policies, goals, system structure, reward system ) c) Attitudinal factors ( information’s about believes and reactions the members of organization about certain subjects like , nature of the work, reward system , opportunities ) d) Behavioral factors (actual work habits ) 31 In some cases there are variables that are not identified during the interviews but influence the problem critically, then research done without considering them is an exercise in futility, in such case the true reason for the problem will remain unidentified even at the end of the research, to avoid such possibilities the researcher needs to delve into all the important research relating to the particular problem area. 32 2- Searching for literature In past go through several bibliographical indexes but now by computer online systems (locating sources to locate and printout the published information) Internet online searching directories (subject, title, geographical location, trade opportunities, industrial plants, foreign traders, data bases) 35 3- Evaluating the literature Accessing the online system and searching for literature in the area of interest will provide a comprehensive bibliography on the subject. 36 4- Documenting the literature review Is important to convince the reader that a) The researcher is knowledgeable about the problem area and has done the preliminary homework that is necessary to conduct the research b) The theoretical framework will be structured on work already done and will add to the solid foundation of existing knowledge. 37 OBSERVATION Broad area of research interest ® Aasearch problem PROBLEM DEFINITION bug delineated © ® PRELIMINARY DATA GATHERING interviewing Lhersture survey THEORETICAL. @ FRAMEWORK DATA COLLECTION ANALYSIS, AND Variables clearty INTERPRETATION identified and labeled — ' f \ t DEDUCTION ‘ ' / Hypotheses % | OF sutistantialed? , oo Research question Vl £7 anewered? \ fee? ~. \ + ‘S No Report |_| Managerial Waiting Presentation Decision Making 40 THE NEED FOR A THEORETICALFRAMEWORK A theoretical framework is the foundation of hypothetico-deductive research. Represents your believes on how certain phenomena are related to each other. 41 THE PROCESS OF BUILDING ATHEORETICAL FRAMEWORK INCLUDES: 1. Introducing definitions of the concept or variable in your model. 2. Developing a conceptual model that provides a descriptive representation of your theory 3. Coming up with a theory that provides an explanation for relationships between the variable in your model. 42 2- Independent variable The independent variable is generally conjectured that an independent variable is one that influences the dependent variable in either a positive or negative way. That is, when the independent variable is present, the dependent variable is also present, and with each unit of increase in the independent variable, there is an increase or decrease in the dependent variable. 45 3- Moderating variable The moderating variable is the presence of a third variable that modifies the relationship between the independent and the dependent variables. 46 4- Mediating variable The mediating variable is one that surfaces between the time the independent variable start operating to influence the dependent variable and the time their impact is felt on it. The Mediating variable surfaces as a function of the independent variable operating in any situation, and helps to conceptualize and explain the influence of the independent variable on the dependent variable. 47 BASIC FEATURES IN ANYTHEORETICAL FRAMEWORK: 50  The variables considered relevant to the study should be clearly defined.  A conceptual model that describes the relationships between the variables in the model should be given.  There should be a clear explanation of why we expect these relationships to exist. Both a schematic diagram of the conceptual model and a description of the relationships between the variables in words should be given, so that the reader can see and easily comprehend the theorized relationships. HYPOTHESIS DEVELOPMENT 51 Hypothesis can be defined as logically conjectured relationships between two or more variables expressed in the form of testable statement. By testing the hypothesis and confirming the conjectured relationships, it is expected that solutions can be found to correct the problem incountered. STATEMENT OF HYPOTHESIS :FORMATS 52 1- If-Then statement To examine whether or not the conjectured relationship or differences exist, this hypothesis can be set either propositions or in the form of If-Then statement. Example: IF the employees are more healthy, THEN they will take sick leave less frequently. The steps to be followed in hypothesis testing are: 1. State the null and the alternate hypothesis. 2. Choose the appropriate statistical test depending on whether the data collected are parametric or non parametric. 55 Measurement Scaling, Reliability, Validity 56 SCALES: 57 Is tool or mechanism by which individuals are distinguished as to how they differ from one to another on the variables of interest to our study There are two types : a) Dichotomous scale : Used to … elicit a yes or no answer ex. Do you own a car? Yes no b) Category scale : Used to … elicit a single response ex. Where in London do you reside? 60 - south London - north London - east London - west London -outskirts 2- ORDINAL SCALE: 61 Job characteristic Ranking of importance The opportunity provided by the job to - Interact with people - Use a number of different skills - Complete a whole task from beginning to end - Serve others - Work independently - In this scale the respondents might be asked to indicate their preferences by ranking the importance they attachto five distinct characteristics in a job that the researcher might be interested in studying The ordinal scale helps researcher to determine the percentage of respondents who consider interaction with others as most important, those who consider using a number of different skills as most important and so on, such knowledge might help in designing jobs that are seen as most enriched by the majority of the employees. 62 3- INTERVAL SCALE: 65 In nominal scale we can make qualitatively distinguish groups by categorizing them into mutually exclusive and collectively exhaustive and in ordinal scale allow us to rank order the preferences the interval scale indicate whether once preference is the same extent, or a greater extent than the second. Interacting with other 1 2 3 4 5 Using a number of different skills 1 2 3 4 5 Completing a task from beginningto end 1 2 3 4 5 Serving others 1 2 3 4 5 Working independently 1 2 3 4 5 66 This can be done by changing the scale from the ranking type to make it appear as if there are several points on a scale that represent the extent or magnitude. So it used when responses to various items that measure avariable can be tapped on a five points ormore Strongly disagree disagree neither agree nor disagree agree strongly agree 1 2 3 4 5 There are five types: 1) Semantic differential scale: It is used to assess respondent’s attitudes toward a particular brand, advertisement, object, or individual. Several bipolar attributes: respondents are asked to indicate their attitudes toward a particular individual, object Several bipolar adjectives: used might employ such terms as good-bad, strong-weak, hot-cold Responsive -----unresponsive Beautiful --------ugly Courageous ------- timid 67 4) Likert scale: 70 My work is very interesting 1 2 3 4 5 I am not engrossed in my work all day 1 2 3 4 5 Life without my work would be dull 1 2 3 4 5 Used in it the summatedapproach High score in items I and 3 reflects a favorable attitude to work this will lead to high total scores for respondents who have a favorable attitude toward work and low total scores for respondents who have an unfavorable attitude towards work. +3 +3 +3 +2 +2 +2 +1 +1 +1 Adopting modern technology Product innovation Interpersonal skills -1 -1 -1 -2 -2 -2 -3 -3 -3 71 5) Staple scale: This scale measures both the direction and intensity of the attitude toward theitems under study Rate your supervisor abilities: 4- RATIO SCALE: 72 Usually used in organizational research when exact numbers on objective (as opposed to subjective) factors are called: 1.How many other organizations did you work for before joining this system? 2.Please indicate the number of children you in each of the following categories: --- Below 3 years of age --- Between 3 and 6 --- Over 6 years but under 12 --- 12 years and over 3.How many retail outlets do you operate? The responses to the questions could range from 0 to any reasonable figure. THE SAMPLING PROCESS: 75 1Defining the population: Sampling begin with precisely defining the target population, the researcher objective and the scope of the study play a crucial role in defining the target population. 2Determining the sample frame: The sampling frame is a representation of all the elements in the population from whish the sample is drawn. 3Determining the sampling design: ( Two types ) Probability sampling, the elements in the population have some known probability of being selected as sample subject. Non probability sampling, the elements do not have a known chance of being selected as sample subject. 4- Determining the sample size: 76 Factors affecting decisions on sample size are: Researcher‘s objective. Extent of precision desired. Acceptable risk in predicting that level of precision. Amount of variability in the population itself. Cost and time constraints. Size of the population. PROBABILITY SAMPLING: 77 When elements in the population have a known chance of being chosen as subjects in the sample. Types of Probability sampling: 1- Unrestricted or simple random sampling: Every element in the population has a known and equal chance of being selected. Stratified Sampling Cluster Sampling NON PROBABILITY SAMPLING: 81 When elements in the population do not have any probabilities attached to their being chosen as sample subjects. (Subjective) Convenient Sampling: Refers to the collection of information from members of the population who are conveniently available to provide it. It is used during the exploratory phase of a research project and is perhaps the best way of getting some basic information quickly and efficiently. Judgment Sampling Quota Sampling Used when a limited number or category of people have the information that is sought. « Help to obtain specialized information » In which a predetermined proportion of people are sampled from different groups. « Allow inclusion of all groups so small in number are not neglected » 82 Purposive sampling: Confined to a specific type of people who can provide the desired information Types of purposive sampling: SOME DEFINITIONS 85 Population (universe) is the collection of things under consideration Sample is a portion of the population selected for analysis Statistic is a summary measure computed to describe a characteristic of the sample Mean (average) is the sum of the values divided by the number of values Median is the midpoint of the values (50% above; 50% below) after they have been ordered from the smallest to the largest, or the largest to the smallest Mode is the value among all the values observed that appears most frequently Range is the difference between the smallest and largest observation in the sample 86 TYPE OFDATA Categorical data: There are basically two kinds of data in this groups: 1. Nominal data (named categories), e.g. gender (male/female), ethnicity (Malay, Chinese, Indian), outcome (dead/alive), etc. The nominal data are summarised by percentages. 2. Ordinal data (ordered categories), e.g. there is an order to the values high, medium, and low, but the distance between values cannot be calculated. Likert scale (5-point scale, 1-5), etc. The ordinal data are summarised by median value. 87