m.com part 1 (sem. 2) research methodology important questions bank

bysuraj patel education -
0

IDOL Mumbai University important questions bank  

M.com Part 1 (sem. 2)

RESEARCH METHODOLOGY FOR BUSINESS

 


Q.1. Define Research. Explain its features

ANS: DEFINITION

According to The Organization for Economic Cooperation and Development (OECD), "Any creative systematic activity undertaken in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this knowledge to devise new applications."

FEATURES OF RESEARCH

1) Systematic Process:

Research is a systematic process. No research can be conducted haphazardly. Each step must follow other. There are set of procedures that have been tested over a period of time and are thus suitable to use in research: The steps are as follows:

·        Formulating the research problem

·        Review of Literature

·        Define Research objectives

·        Preparing Research Design

·        Collection and analysis of data

·        Interpretation of data

·        Preparation of report

·        Follow-up of report

2) Objective and Logical / Empirical:

Researcher needs to make every possible effort to avoid biasness in every stage of research process. In order to make research objective and logical / empirical, there is a need to collect relevant and accurate data to investigate into the research problem. After collection of data, the researcher need to undertake processing of data, analyse and interpret it and arrive at logical conclusion. So the research has to be conducted following rigorous scientific methods and procedures. Each step in the research has been tested for accuracy.

3) Development of Principles and Theories:

A systematic research helps to develop new principles and theories. Such principles and theories can be useful to several organizations to manage and deal with people and things in a better way. E.g. Prof. Alfred Marshall used the inductive method of research in economics. On the basis of the market analysis he framed ‘Law of Demand’. According to this law, there exists a negative relationship between the price and quantity demanded. When price increases, demand falls and vice versa. Another example could be, ‘14 Principles of Management by Henry Fayol’. They are developed gradually with thorough research work. Systematic observation and experiments are conducted in various organizations before developing them.

4) Multipurpose Activity:

Research is multipurpose activity. It helps to achieve multiple purposes such as:

·        Discover new facts or verify old facts.

·        Predict future events and control such events

·        Establishes relationship between variables

·        Develop new scientific tools, concepts and theories

5) Basic and Applied Research:

Basic or fundamental or pure research is a research approach that is entirely theoretical and aimed at improving or expanding the knowledge-base of a particular field of study. The main motivation in basic research is to expand man’s knowledge, not to create or invent something. There is no obvious commercial value to the discoveries that result from basic research. It does not have direct commercial objective. Applied research is designed to solve practical problems of the modern world, rather than acquire knowledge for knowledge sake. In other words, the purpose of applied research is to know more about a certain real-world problem and take steps to solve it. It has direct commercial objective. Researchers in this field try to find immediate solutions to existing problems facing a society or an industrial or business organization.

6) Quantitative and Qualitative Research:

Quantitative research refers to as a systematic investigation of phenomena by gathering quantifiable data and performing statistical techniques. Eg. Research is undertaken to find out the number of unemployed graduates. This type of research is usually done by using surveys, experiments, and so on. Qualitative research is used to gain an understanding of human behaviour, intentions, attitudes, experience, etc. It is based on the observation and the interpretation of the people. Eg. Research is undertaken to find out reasons as to why employees remain absent from work.

7) Generalization:

When the researcher conducts a research, he/she selects target population and from this population, small sample is selected for collecting data. So the sample selection must be done systematically so that it represents the whole population or the universe. The findings with this sample is generalized on entire population/universe of research. Eg. A research is undertaken on ‘Consumer behavior towards electronic goods of Samsung Company in Mumbai region’ among 500 sample size. The findings of these 500 samples may be generalized for people residing in entire Mumbai region.

8) Reliability:

It is a subjective term which can not be measured precisely, but today there are instruments which can estimate the reliability of any research. Reliability is the extent to which the outcomes are consistent when then experiment is repeated more than once. If research is undertaken with similar population and with similar procedures, If it yields similar results each time it is called to be a reliable research. . Eg. A research is conducted on ‘the effects of single parenting on the class performance of the children’ and the results conclude that single parenting causes low grades in class. These results should have to be reliable for another sample taken from a similar population. More the results are similar; more reliability is present in the research.

9) Validity:

Validity of the research instrument can be defined as the suitability / accuracy of the research instrument to the research problem. Validity is the extent to which the instruments that are used in the experiment measure exactly what you want them to measure. Some researchers say that validity and reliability are co-related, but the validity is much more important than reliability. Without validity, research goes in the wrong direction.

If you want exam most important question bank pdf then you have to pay per subject 100/- rupees only . 

Contact 8652719712 / 8779537141 


Telegram Group

Tags

You may like these posts

Post a Comment

Previous Post Next Post

Recent Post

Direct Tax