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Index1. Introduction to “Research” and “Research methodology”?2. What is “Research”?3. Objectives of Research Methodology?4. Importance of Research in Management?5. Significance of Research in Management?6. Scope of Research Methodology?7. Bibliography….
IntroductionResearch implies the study & exploring knowledge to get the new ideas. Researchmethodology is a way of solving the research problem systematically. ResearchMethod & Research Methodology, these are two different but related terms.Research Method is a part of Research methodology.The research design depends upon some common design questions like what tostudy, why to study, where to study & what type of data is required. The need is tofollow the systematic step-by-step approach to solve a research problem. ResearchResearch in common parlance refers to a search for knowledge. Once can alsodefine research as a scientific and systematic search for pertinent information on aspecific topic. In fact, research is an art of scientific investigation.According to “Clifford Woody” research comprises defining and redefiningproblems, formulating hypothesis or suggested solutions; collecting, organizing andevaluating data; making deductions and reaching conclusions; and at last carefullytesting the conclusions to determine whether they fit the formulating hypothesis.The term „research‟ refers to the systematic method consisting of enunciating theproblem, formulating a hypothesis, collecting the facts or data, analyzing the factsand reaching certain conclusions either in the form of solutions(s) towards theconcerned problem or in certain generalizations for some theoretical formulation. Objectives
The purpose of research is to discover answers to questions through the applicationof scientific procedures. The main aim of research is to find out the truth which ishidden and which has not been discovered as yet. To gain familiarity with a phenomenon or to achieve new insights into it (studies with this object in view are termed as exploratory or formulative research studies); To portray accurately the characteristics of a particular individual, situation or a group (studies with this object in view are known as descriptive research studies); To determine the frequency with which something occurs or with which it is associated with something else (studies with this object in view are known as diagnostic research studies); To test a hypothesis of a causal relationship between variables (such studies are known as hypothesis-testing research studies). Importance of ResearchSome important avenues for research are: Research on existing theories and concepts help us identify the range and applications of them. It is the fountain of knowledge and provides guide-lines for solving problems.
Provides basis for many government policies. For example, research on the needs and desires of the people and on the availability of revenues to me e t t h e n e e d s h e l p s a g o v e r n me n t t o p r e p a r e a budget. It is important in industry and business for higher gain and productivity and to improve the quality of products.Mathematical and logical research on business and industry optimizes theproblems in them.It leads to the identification and characterization of new materials,new living things, new stars, etc.Only through research can inventions be made; for example, new andnovel phenomena and processes such as superconductivity and cloninghave been discovered only through researchSocial research helps find answers to social problems. They explainsocial phenomena and seek solution to social problems. Significance of Research in ManagementResearch inculcates scientific and inductive thinking and it promotes thedevelopment of logical habits of thinking and organization.The role of research in several fields of applied economics, whether related tobusiness or to the economy as a whole, has greatly increased in modern timesResearch provides the basis for nearly all government policies in our economicsystem
Research has its special significance in solving various operational and planning problems of business and industry Research is equally important for social scientists in studying social relationships and in seeking answers to various social problemsIn addition to what has been stated above, the significance of research can also beunderstood keeping in view the following points: To those students who are to write a master‟s or Ph.D. thesis, research may mean a careerism or a way to attain a high position in the social structure; To professionals in research methodology, research may mean a source of livelihood; To philosophers and thinkers, research may mean the outlet for new ideas and insights; To literary men and women, research may mean the development of new styles and creative work; To analysts and intellectuals, research may mean the generalizations of new theories.Thus, research is the fountain of knowledge for the sake of knowledge and animportant source of providing guidelines for solving different business,governmental and social problems. It is a sort of formal training which enables oneto understand the new developments in one‟s field in a better way.
Scope of Research MethodologyThe scopes of research methodology are as follows:-1. Marketing research: The process of gathering, analyzing and interpretinginformation about a market, about a product or service to be offered for sale in thatmarket, and about the past, present and potential customers for the product or service;research into the characteristics, spending habits, location and needs of your businessstarget market, the industry as a whole, and the particular competitors you face2. For making government policy3. Operational research: It is a scientific method of providing executivedepartments with a quantitative basis for decisions regarding the operationsunder their control – Morse & Kimball4. Motivational research: The application of the knowledge and techniques of thesocial sciences, especially psychology and sociology, to understanding consumerattitudes and behavior: used as a guide in advertising and marketing.5. Stimulation research Bibliography Research Methodology- Methods and Techniques, C.R. Kothari