DWARAKA DOSS GOVERDHAN DOSS VAISHNAV COLLEGE

Presenter: Dwarakesh.B

Faculty: Dr. V. Sayee Kumar

RESEARCH- MEANING, SCOPE & OBJECTIVES

Research implies the study & exploring knowledge to get the new ideas.
Research methodology is a way of solving the research problem systematically.
Research Method & 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 to
study, why to study, where to study & what type of data is required. The need is
to follow the systematic step-by-step approach to solve a research problem.

What is research?

Research in common parlance refers to a search for knowledge. One can also
define research as a scientific and systematic search for pertinent information on
a specific topic. In fact, research is an art of scientific investigation.

According to “Clifford Woody” 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.

The term ‘research’ refers to the systematic method consisting of enunciating

the problem, formulating a hypothesis, collecting the facts or data, analyzing the
facts and reaching certain conclusions either in the form of solutions(s) towards
the concerned problem or in certain generalizations for some theoretical
formulation.

Objectives

The purpose of research is to discover answers to questions through the

application of scientific procedures. The main aim of research is to find out the
truth which is hidden 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 Research

 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 the problems 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

and novel phenomena and processes such as superconductivity
and cloning have been discovered only through research

 Social research helps find answers to social problems. They

explain social phenomena and seek solution to social problems.

Significance of Research in Management

 Research inculcates scientific and inductive thinking and it promotes the

development of logical habits of thinking.

 The role of research in several fields of applied economics, whether

related to business or to the economy as a whole, has greatly increased in
modern times.

 Research provides the basis for nearly all government policies in our
economic system

 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 problems
SCOPE OF RESEARCH.

Environmental level

• Technological innovations: Research is conducted to know & adapt new

technological innovations, developments in machinery, method, etc. used
. For e.g., to know level of use of information technology e.g.
Networking, Tally, SAP, etc. in the organization.

• Economical, Socio-Cultural, Natural, Political - Legal Environments:

Research is also done to know the characteristics, complexity, dynamism
of socio-Cultural, economical, political- legal, which ultimately gives the
idea of the potential, feasibility, viability etc. of the market.

• Competitors Analysis: Companies conducts research for studying the

strategic patterns of competitors, their strengths & weaknesses for making
better strategies for competing effectively in order to survive & thrive in
the market.
• Industry fears: Research is conducted sometimes to know the survival &
growth opportunities of an industry. it may be due to the extinction of raw
material/sources of raw material . E.g. Finishing stock of Petroliam, coal
may cause the extinction for automobile & power industry thus research
for alternative sources/solutions is conducted. For the above e.g. the
solutions are electric car(automobile), CNG gas generated Automobile,
Battery driven Automobiles.

• New Market entry: Before making any entry into any new market ,
companies conduct research/pilot survey to know market potential,
commercial feasibility, growth rate for the acceptance level of the
consumers.

• New product development: Research is mainly conducted to know

needs, wants, desires, tastes, preference, problems, demography,
psychography etc. of consumers. On the basis of which Organizations
may develop new products & Services.

Organizational level

• HRM: it is related to Efficiency, productivity, Effectiveness,

performance, Satisfaction level of Employees, structure, culture etc. of
the organization.

• Finance: It may be related to any operation like financial analysis,

Capital structure, Ratio analysis etc. Research is done to evaluate the
performance or viability of the existing systems /procedures /approaches
for the same, in order to improve the existing one or develop new
methods for the same. Ultimately the motive remains for reducing loss &
increase profitability.

• Production: Here, research is related to know and improve the

efficiency, productivity, effectiveness level of workers , process planning,
materials planning, layout, purchasing etc. which ultimately have
objectives of cost minimization & Profit maximization.
 • Organizational Effectiveness and Success: It is related to effectiveness,
efficiency, rationality, viability of general management, administration,
systems, procedures, operations, policies, rules ,Regulations etc.
prevailing currently in the organization. Any research which can
contribute to enhance the effectiveness of the organization or towards the
success of the organization

Marketing level

 Product: Research is conducted to improve quality, features, design,

packaging, labeling, and differentiation etc. of the products or services.

 Price: Research is conducted for the cost minimization, determining

Pricing methods(strategies), develop new pricing strategies etc. for the
product in order to attract & retain the customers.

 Place: Research is also conducted for evaluating & improving the

performance, satisfaction, effectiveness of the distribution channels
(Retailers, Dealers, agents etc.)

 Promotion: Research is also conducted to determine & develop

appropriate & new approaches/methods for Advertising, Sales promotion
as per the target market.

SOURCE:
 Research Methodology- Methods and Techniques, C.R.
Kothari