-Research Research is an art of scientific investigation. It is regarded as a systematic efforts to gain new knowledge. The dictionary meaning of research is “a careful investigation or enquiry especially through search for new facts in any branch of knowledge”. -Nature of Research -Objectives of Research -Types of Research -Research Process -Significance of Research -Criteria for Good Research -Limitations of Research

1. MEANING & NATURE OF
RESEARCH

2. What is Research?
 Research is an art of scientific
investigation.
 It is regarded as a systematic efforts to
gain new knowledge.
 The dictionary meaning of research is “a
careful investigation or enquiry especially
through search for new facts in any branch
of knowledge”.

3. Definition of Research
Research comprises defining and
redefining problems, formulating
hypothesis or suggested solutions;
collecting, organizing and evaluating
data; making deductions and reaching
conclusions; and at last carefully
testing the conclusions to determine
whether they fit the formulating
hypothesis.
-Clifford Woody

4. Nature of Research
 It strives to be objective and logical.
 It is based on observable experience or
empirical evidence.
 It demands accurate observations,
reservations and descriptions.
 It is directed towards the solution of the
problem.

5. Contd…
 It is carefully recorded and reported.
 It requires expertise.
 It involves gathering new data from
primary or first hand sources or using
existing data for new purpose.

6. Objectives of Research
 To investigate a subject.
 To collect data regarding the problem.
 To conduct logical and objective study.
 To conduct a systematic enquiry of the subject.
 For carefully recording, reporting and presenting the facts.
 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).

8. Flow Chart of Research Process

9. BUSINESS RESEARCH METHODS - I
Significance of Research
 It provides the basis for nearly all
government policies in our economic
system.
 It helps in solving various operational and
planning problems of business and
industry.
 It is an aid to decision making.
 It establishes the relation between
variables.

10. Contd…
 It is equally important for social scientists
in studying social relationships and in
seeking answers to various social
problems.
 It provides a basis for innovation.
 It facilitates the process of thinking,
analysis, evaluation and interpretation of
various situation.

11. BUSINESS RESEARCH METHODS - I
Criteria for Good ResearchCriteria for Good Research
 Purpose should be clearly defined.
 Common concepts should be used that can
be understood by all.
 Research procedure should be explained in
detail.
 Research design should be carefully
planned.
 Researcher should declare all the possible
errors and their possible impact on finding.

12. Contd…
 Analysis of data should be sufficiently
adequate to reveal significance.
 The methods of analysis should be
appropriate.
 The validity and reliability of the data
should be checked carefully.
 The researcher have good command over
research methodologies and should be
intelligent and experience.

13. Limitations of Research
 It is based on sample & sampling research lacks
the complete accuracy.
 Long time is required in the research
procedures.
 Difficult to evaluate the economic benefits
derived from the research.
 Trained personnel and a lot of time are required
for research.
 Lack of adequate knowledge of research.