Unit 1: Research

Definition of Research

Research is a systematic and scientific process of collecting, analyzing, and interpreting data to discover new knowledge, solve problems, or verify facts.

Example: A marketing team conducts research to understand customer preferences for a new product.

Meaning of Research

• The word “research” is derived from the French word rechercher, which means “to search again.”
• Research is an organized effort to investigate a problem and find solutions or build knowledge.
• It involves observation, hypothesis, data collection, and analysis.

Example: A student writing a thesis on consumer behavior will gather information through surveys, interviews, and analysis.

Importance of Research

Types of Research

Research can be classified based on purpose, method, and nature:

Based on Purpose

Based on Methodology

Based on Nature

Qualities of Good Research

Summary Table

Research Applications in Functional Areas of Business

Research plays a vital role in all major business functions to improve decision-making and performance. Here's how it's used across various areas:

Marketing Research

Purpose: Understand customer needs, market trends, product feedback, and competition.

Finance Research

Purpose: Ensure financial efficiency, risk management, and investment planning.

Human Resource (HR) Research

Purpose: Enhance employee satisfaction, productivity, and workforce planning.

 Operations and Production Research

Purpose: Improve production efficiency, reduce costs, and ensure quality control.

Strategic Management Research

Purpose: Guide long-term planning and competitive strategies.

Emerging Trends in Business Research

With changes in technology, markets, and customer behavior, business research is also evolving. Here are the latest trends:

Research is Essential in all Business Functions

Emerging trends like AI, big data, and real-time research are transforming how companies collect and use business intelligence

Research & the Scientific Method

The scientific method is a structured and logical approach used in research to observe, analyze, and solve problems based on factual evidence.

It helps researchers maintain objectivity, accuracy, and reliability while drawing conclusions.

Characteristics of the Scientific Method.

Steps in the Research Process

The research process involves a sequence of steps to ensure thorough and reliable outcomes:

1. Problem Identification

Recognize and define the research problem or question. Example: Why is employee productivity decreasing in XYZ company?

2. Review of Literature

Study existing theories, past research, and published material related to the problem. Example: Reading articles on factors that affect employee motivation.

3. Formulation of Hypothesis

Propose an assumption or educated guess that can be tested. Example: "Lack of employee recognition leads to reduced productivity."

4. Research Design

Plan how the research will be conducted: methods, tools, time, and resources. Example: Choosing a survey and observation method for data collection.

5. Data Collection

Gather information from primary or secondary sources. Example: Distributing questionnaires to employees.

6. Data Analysis

Organize and interpret the data using tools like charts, graphs, or statistics. Example: Using Excel or SPSS to calculate average satisfaction scores.

7. Interpretation and Conclusion

Draw conclusions based on data analysis and compare with the hypothesis. Example: Confirming that employees with low recognition scores also show low productivity.

8. Report Writing and Presentation

Present findings clearly in a report or presentation with visuals and recommendations. Example: Submitting a research report with charts, key insights, and suggestions.

9. Decision Making / Implementation

Use findings to make business or academic decisions. Example: Recommending a reward system for employee recognition.

📊 Summary Table

Concept of Scientific Enquiry

Scientific enquiry is the logical, structured process used to investigate business problems or phenomena through facts, data, and reasoning. It ensures that research is accurate, objective, and reliable.

🧩 Stages in Scientific Enquiry

To move from a general business issue to a focused research process, we follow these stages:

1. Formulation of Research Problem

It is the first and most critical step in the research process.

• Research Problem = A clearly defined issue that needs to be studied and solved.
• Steps to define a research problem:
• Identify a general area of interest
• Narrow it down to a specific issue
• Set research objectives

Example: A company notices a drop in sales in the last quarter.

Research Problem → What are the causes of declining sales in the last 3 months?

2. Management Question

This is a broad business issue or decision-making challenge faced by the organization. It reflects what the management wants to solve or improve. Example: Why are profits decreasing despite high marketing expenditure?

3. Research Question

Once the management question is identified, we convert it into a specific research question that guides the study. It focuses on what needs to be studied scientifically. Example: Does digital marketing spending influence customer purchase decisions?

4. Investigation Question

These are detailed, measurable, and testable questions used to collect specific data. They break down the research question into small, answerable parts.

Example:

• How many customers saw the ad on Instagram?
• What percentage of customers purchased after seeing the ad?
• Which age group responded most to the marketing?

🔁 Flow Chart Summary

Management Question

       ↓

Research Problem

       ↓

Research Question

       ↓

Investigation Questions

Practical Example in Business Research:

Conclusion:

• Scientific enquiry is about breaking a broad problem into manageable and researchable questions.
• It helps researchers collect accurate and relevant data to support business decisions.

Research Proposal

A research proposal is a formal plan or blueprint that outlines what you want to study, why it’s important, and how you plan to carry out the research. It is usually prepared before conducting the research to seek approval or funding from an organization, academic body, or supervisor.

Elements of a Research Proposal

A strong research proposal typically includes the following components:

Drafting a Research Proposal (Step-by-Step)

Follow these steps while writing your research proposal:

• Choose a topic aligned with your interests or business problem
• Write a clear title that reflects the focus of your study
• Describe the background and importance of the research
• Define the problem and purpose of your study
• Set clear objectives and research questions
• Review existing literature to find research gaps
• Select the right methodology (qualitative/quantitative)
• Plan data collection and analysis methods
• Mention any limitations you expect to face
• Include a timeline and budget if needed
• Use formal and academic language
• Cite all references properly

Evaluating a Research Proposal

To assess if a proposal is strong and research-worthy, evaluate it based on these criteria

Example Research Proposal Topic

Title: “Effectiveness of Influencer Marketing on Consumer Buying Behavior Among College Students”

Objective: To find out if influencer content affects student purchasing decisions

Methodology: Online survey of 150 students

Tool: Questionnaire via Google Forms

Timeline: 1 month Budget: ₹1,000

✅ Conclusion

A good research proposal:

• Guides the research process
• Helps in getting approval/funding
• Ensures clarity and structure