1. definition and importance of research 2. types of research – basic and applied 3....

1. Definition and importance of research2. Types of research – Basic and Applied3. Characteristics of a good research

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Process of finding solutions to a problem after a thorough study and analysis of the situational factors.

It starts with;1. identify the problem2. correctly recognize the relevant factors3. gather the right type of information4. analyze the information gathered5. make the right conclusion

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• Business 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.

• Research provides the managers with the information needed to make informed decisions to successfully deal with problem.

• This is a result of a careful analysis of data gathered firsthand or of data that is already available (in the company, industry or archives or etc).

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• Data can be quantitative (gathered through structured questions) or qualitative (from broad answers to specific questions in interviews, or from responses to open-ended questions in the questionnaire or via observation or from already available information gathered from various sources).

• Research involves a series of well-thought-out and carefully executed activities that will enable the manager to know how organizational problems be solved or minimized.

• Research is a process of inquiry, investigation, examination and experimentation.

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• In accounting, budget control systems, practices and procedures are frequently examined. Inventory cost methods, accelerated depreciation, time series behavior of quarterly earnings, transfer pricing, taxation methods, auditors reports and etc.

• In finance, the operations of financial institutions, optimum financial ratios, mergers and acquisitions, leveraged buyout, behavior of stock exchanges and etc.

• In International business, the time series of exchange rates and interest rates are examined, the economic indicators factors are examined on the company performance and etc.

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1. Just-in-time systems, production efficiencies and continuous improvement strategies

2. Delivering and performing service3. Product life cycle, and product innovation4. Inventory level and warehousing5. Procurement efficiency6. Supply chain relationships

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1. Basic research- the purpose is to generate a body of knowledge by trying to comprehend how certain problems that occur in organizations can be solved.• The organizations may later on apply the

knowledge gained by the findings of such basic research to solve their own problems.

• Relevant to the particular work setting• For example, investigating factors that contribute

to low production level.

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2. Applied research- the purpose is to solved a current problem faced by the manager in the work setting, demanding a timely solution.• For example: a production manager may be

interested in investigating the factors that contribute to shorter lead time as a matter to improve delivery performance.

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1.Objectivity Conclusions drawn through the interpretation

of the results of data analysis should be objective, that is they should be based on the facts of the findings derived from the actual data and not on our own subjective or emotional values.

2.Generalizability Refers to the scope of the applicability of the

research findings in organizational setting to other settings

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3. Purposiveness Clear objective, aim or [purpose of study

4. Rigor Meticulousness, carefulness, non-bias

5. Testability Ability of using collected data to test hypotheses

using relevant statistical tests

6. Replicability Similar results emerged based on data collected by

other organizations employing the same methods

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7. Parsimony The achievement of meaningful and

parsimonious rather than an elaborate and cumbersome, model for problem solution. Less variable to manipulate without incurring large

variability or magnitude in the effects

Limitations of scientific research in the management area as opposed to physical sciences are due to subjective areas of feelings, emotions, attitudes and perceptions.

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8. Precision and confidence Precision refers to the closeness of the findings to

“reality” based on the sample Higher degree of accuracy Confidence of interval

Confidence refers to the probability that our estimations are correct Level of confidence or significance level p=0.5 represents 95% level of confidence

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Deductive research – is a process by which we arrive at a reasoned conclusion by logical generalization of known fact.◦ If Abu is a high performer, we then conclude

that he is highly proficient of his job. ( high performer are highly proficient in their jobs)

Inductive research- is a process we observe certain phenomena and on this basis arrive at conclusions.◦ i.e. we see that the production processes are

the prime features of a factory or manufacturing plant. We therefore conclude that factories exist for production purposes.

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Observation Preliminary information gathering

Interviews Literature survey

Theory formulation Hypothesizing Further scientific data collection Data analysis Deduction-Drawing conclusions

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1.Clearly Defined Purpose Must contain problem,

decision to be made, scope, limitations and definition of key terms

2.Detailed research process

Each step must be detailed with the sources of data clearly explained

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3.Thoroughly planned design

Sampling and observations must be accurate and carefully designed

4. High Ethical standards Must make sure respondents

do not experience physical or emotional pressure

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5.Limitations addressed There is no perfect research

6.Adequate analysis Validity and reliability is

checked

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7. Unambiguous presentation

Style of presentation, language and terms must be simple and concise

8. Conclusions justified Conclusions must be

based on evidence and not experience

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9. Credentials Experience and

credentials of the researcher plays a role

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Fishing Trip Plagiarizing others work Falsifying data Presenting information which is

not true Misleading respondents

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Being knowledgeable about research and research methods helps professional managers to: ◦ Identify and effectively solve minor problems in the

work setting. ◦ Know how to discriminate good from bad research. ◦ Appreciate the multiple influences and effects of

factors impinging on a situation. ◦ Take calculated risks in decision making. ◦ Prevent possible vested interests from exercising

their influence in a situation. ◦ Relate to hired researchers and consultants more

effectively. ◦ Combine experience with scientific knowledge while

making decisions.

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Each should know his/her role Trust levels Value system Acceptance of findings and implementation Issues of inside versus outside

researchers/consultants

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Advantages:◦ Better acceptance from staff◦ Knowledge about organization◦ Would be an integral part of implementation and

evaluation of the research recommendations. Disadvantages

◦ Less fresh ideas◦ Power politics could prevail◦ Possibly not valued as “expert” by staff

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Advantages◦ Divergent and convergent thinking◦ Experience from several situations in different

organizations◦ Better technical training, usually

Disadvantages◦ Takes time to know and understand the

organization◦ Rapport and cooperation from staff not easy◦ Not available for evaluation and implementation◦ Costs

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Data are not information, information is not knowledge, knowledge is not understanding and understanding is not wisdom.

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Data: the stuff we measure and record Information: data that are processed to be

useful; provides answers to how much, which, what, when, where, who questions.

Knowledge: application of data and information; answers how questions.

Understanding: appreciation of why. Wisdom: evaluated understanding why it is

(or is not) important, and what it means in the total scheme of things

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ObservationIdentification of problem area

Refinement of theory (pure research)

orImplementation

(applied research)

Interpretation of data

Analysis of data

Data collection

Research design

Constructs concepts operational definitions

Hypotheses

Theoretical Framework OrNetwork of association

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Limitations in doing researchLimitations in doing research

• Time constraint• Availability of data• Type of decision to be made• Cost and Benefit Payback Improve quality Use of resources

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