c
  

c

 

c
cc
 


CHOOSING A TOPIC TO RESEARCH ABOUT- IT MUST BE WORK BASED

RESEARCH PROJECT

Rowena Murrey (2006) - How to write a thesis

Strategies of getting started

ANDREW H. VAN DE VEN

Andrew H. Van De Ven Engaged scholarship - A guide for organizational and social
research

He quoted ³The formulation of a problem is often more essential than its solution,
which may be merely a matter of mathematical or experimental skill´ (Albert Eistein
quoted in Getzels and Csikszentminhalyi 1975)

He also quoted - Any scientist of any age who wants to make important discoveries
must study important problems. Dull or piffling yield dull or piffling answers. It is
not enough that a problem must be interesting - almost any problem is interesting if
it is studied in sufficient depth ----- the problem must be such that it matters what the
answer is ± whether to science generally or to mankind. (P B Medawar, Nobel
Laureate in medicines and physiology, 1979)

Formulating the Research Problem ± is the most important task in research because
it plays a crucial role in mapping up the subject/problem and directly affects how
theory building, research design and the problem are solved. However researchers
often put little attention on it. Researchers tend not to be problem minded but are
more of solution driven by focusing on models and theories for the problem.

Research is viewed as a problem solving activity/process (Deutsch 1997; Azevedo

2002). Problem solving process involves steps in ±

- Recognizing the problem

- Searching the problem

- Screening the information

 - Evaluating alternatives and

- Choosing a solution (Polya 1957; March and Simon 1958; Halpern 1996;
Deutsch 1997; McGrath and Tschan 2004)

In terms of formulating a research problem it translate into 4 interrelated activities

i.e.

1. Recognizing and situating a problem

2. Gathering information and setting it

3. Diagnosing the information to ascertain the symptoms of the problem

4. Deciding what actions to take

Most research problems are done to address a particular problem, crisis or

threat such as a gap between expectations and outcomes experienced by
practitioners in implementing organizational program, service or product. The
major problem encountered is that most research problems are not
well-structured, not consistent with scholar¶s theory of the world

All illustrations above suggest that research problem is defined as a

problematic situation, phenomenon, issue, or topic chosen as a subject of an
investigation Andrew H Van DE Ven (2007) four common problems in
formulating a research problem include difficulties in situating, grounding,
diagnosing & resolving the research problem. The most important element in
research is for the researcher to indentify which group is the researcher
addressing and he must engage them in problem formulating.

Andrew H Van De Ven (2007) quoted unfortunately problem formulation is often

rushed or taken for granted. As a result important dimensions of a problem often go
unrecognized and opportunities to advance knowledge of the problem are missed
(Volkema 1983°

SITUATIATING A PROBLEM

As a result, Eden et al. (1983: 2-3) point out that people pay attention to certain
things, selecting those having a particular significance for themselves, and ignoring
the rest.

A problem belongs to a person; it is an often complicated and always personal

construction that an individual places on events. Eden et al 1983: 8

A problem can be viewed as having a foreground and a background, a focal area, and
a context (Abbott 2004:138).

As a result, Andrew H. Van de Ven (2007) point out that a problem¶s definition
largely determines its solution space therefore when situating a problem we need to
be reflective about whose perspectives will take foreground and background in
situating the problem domain.

The research puts bankers and the financial services managers in the foreground
because it is a business research. This is based on the assumption by Andrew H. Van
de Ven(2007) that business studies managers are often put in foreground and the
policy makers and other stakeholders are on the background.

The research focuses on the problem and situations experienced by bankers and
financial services managers because of adopting westernized/modernisedproduct
risk assessment and decision making analysis models. The concerns of financial
institutions employees, local politics, external regulations, technology and
infrastructure in the communities where the businesses are operating would be
treated as context in the problem domainor as part of the background i.e. the
manager¶s problem.

The research further focuses on the financial services managers as the foreground of
the problem because Andrew H. Ven de Ven (2007) states that management
practitioners, tend to focus on the immediate and particular problem they are
experiencing in running an organisation while policy makers are more concerned
with general views of problems affecting a larger population. This will bring the
research problem into an argument about the failure by financial services managers
to understand the risks associated with financial products and decision making
analysis models they were dealing in until such time when global crisis like the
Lehman brothers happens.

Grounding the problem in reality

As Andrew H.Van DE Ven states the more you ground a research problem in reality
from a user¶s perspective the more you learn to appreciate the multiple dimensions
and manifestations of a problem and its solution space. How do you ground a
problem

Information gathering activities drawing on personal experiences and observations,

talking to people who experience the problem, interviews, group meetings so that
you become sufficiently familiar with a problem domain and be able to answer
questions of who, what, where, when, why, and how the problem exists

Mark Saunders, Philip Lewis and Adrian Thorn hill in their book Research Methods
for Business Students 5TH ED.

á
    

  

(G Haury and Cronhang 2005; Smith and Danety 1991) said formulating and
clarifying the research topic is the starting point of your research project and once
you are clear about this, you will be able to choose the most appropriate research
strategy and data collection and analysis techniques.

Attributes of a good topic are

-| Clearly define your research questions and objectives

-| You must have good knowledge of literature
-| Questions and objectives must relate clearly to the problem idea
-| Topic must have a symmetry of potential outcomes i.e. similar value
-| The topic must have the scope to write an interesting project report
-| It is important to consider your career goals in selecting a topic

Generating research ideas

Looking at past project titles is a very useful way of generating research ideas
through scanning your university list of past project titles
Research topic techniques
Techniques that can be used to find and select a strategic topic include
- Rational technique
-creative technique
Raimond (1993) said that both techniques should be applied in a research
topic selection
Rational thinking include examining your own strengths and interests,
looking at past project titles, searching the literature and scanning the media
While creative thinking includes keeping a notebook of all ideas,
brainstorming, relevance trees and exploring personal preferences using past
projects
Sources of good literature include articles in the academic and professional
journals, reports, books, and media like the times, financial times, guardian
and daily telegraph
Another good research technique is the Delphi Technique which involves
using group of people who are interested in the research to choose a more
specific research idea.

R    
Beware of research questions that are too easy and don¶t fall into the trap of
asking research questions that are too difficult.

Clough and Nut-brown (2002) used what they call Goldilocks tests to decide
status of a good research question i.e. is it too big, too small, too hot or just
right.
Research questions must be just right meaning those questions that are just
right for investigation at this time
You must avoid research questions that will not generate new insights.

R     

Sometimes it is worth phrasing your research questions as research
objectives. Ask yourself if each of your research question has an objective and
if no then the research question is not good enough.
Your objective must pass the well known Smart Test i.e. objectives must be
specific, measurable, achievable, realistic and timely.

One important theory in writing research questions and objectives, Gill and
Johnson (2002:229) highlighted that theory is defined as formulation
regarding the cause and effect relationship between two or more variables
which may or may not have been tested
While Button and Staw (1995), Whetten (1989) said that what is passing as
good theory includes a plausible, coherent explanation for why certain
relationships should be expected in our data.
In your research what is required is to contain theory by coming up with a
logical argument to explain the reasons for the described phenomenon i.e. the
key word here is µwhy¶ did things you describe occur? What is the logical
explanation?
Sutton and Staw (1995:375) sum up stating that theory is about the
connections between phenomena, a story about why events, structure and
thoughts occur. Theory delves into underlying processes so as to understand
the systematic reasons for a particular occurrence.
Theory should explain the phenomena, analyse relationship, compare what is
going on in different research settings, product outcomes and generalise.

Deductive Approach means a clear theoretical position is developed prior to

the collection of data
While Inductive Approach is a principle of developing theory after the data
have been collected.
The purposes of a research proposal is that you need to follow these important
steps±
1.| Organising your ideas into a coherent statement of your research intent
2.| You need to convince your audience that what you are planning is
possible, achievable within the time and other resources available.
Background of research proposal is very important part of your research
because this is where you demonstrate your knowledge of the relevant
literature. Here you are expected to show a clear link between the previous
work/research that has been done in your field of research and the content of
your proposal. Please note that this is not the same as literature review but it is
just to provide an overview of the key literature sources from which you
intend to draw your sources.
Background should lead you into a statement of your research questions and
objectives and this should leave the readers with no doubt about what is that
your research seeks to achieve. However be careful that your objectives are
precisely written and will lead to observable outcomes.

   

Method and background sections will be the longest sections of the proposal
because it will detail precisely how you intend to go about achieving your
research objectives and it will also justify your choice of method in the light of
the objectives. You can only meet your aims by dividing your method into
two sections i.e.
1.| Research design ± explain where you intend to carry out the research e.g.
part of your organisation, which sector of the economy are you focusing
and researching on and why you have chosen this sector. You need to
indentify your research population e.g. managers, trade unions, and why
you have chosen them. The research design section should include an
explanation of the general way in which you intend to carry the research. Is
it based on the data collection based on questionnaires, interviews,
examination of secondary data and you must also explain why you have
chosen your approach. Your explanation should be based on the most
effective way of meeting your research objectives. The research design
gives an overview of the method chosen and the reason for that choice.
2.| The data collection section goes into much more detail about how
specifically the data are to be collected e.g. if you survey strategy you
should specify your population and sample size. You should also clarify
how the survey instruments such as questionnaire will be distributed and
how the data will be analysed. If you are using interviews, you should
explain how many interviews will be conducted, their intended duration
and how they will be analysed. You should demonstrate that you have
thought carefully about all the issues regarding your method and their
relationship to your research objectives. However it is not good to include
precise detail of the method you employ in the research proposal.
 3.| Please note that you need to include a statement about how you are going
to adhere to any ethical guidelines.

Colin Fisher ± Researching and writing a dissertation (2010) 3rd Edition

Fisher 2007 quoted if a man begins with certainties, he shall end in doubts; but if he
will be content to begin with doubts, he shall end in certainties. Francis Bacon
(1561-1626), quoted in Scott (2002:115)

Fisher (2010) highlighted that writing a project proposal is divided into 3 categories

1. Choosing the topic to research and framing the research question

2. Designing the project, deciding style of research, and how the project is going
to be tackled

3. Writing a proposal document

Choosing a topic is very critical and it must include the following factors ±

1. The topic must interests, excites the researcher & targeted group

2. The topic must be something that is not easily taken by events within a
year¶s period

3. The topic must be broad enough to sustain the research but not too broad to
cause confusion.

4. The topic must fit in within the assessment criteria of your course

5. The topic must be designed in such a way that you will have access to the
people who can answer your research question either by interview,
questionnaire

Fisher (2010) six- stages process for choosing a topic



Indentify broad topic & academic discipline(s) - this involves
personal interest. Below is my random thinking of what came into my mind as my
problematic situation in my work place which is a financial services organisation
and the problem is focused on financial products risks and investments decision
making models, the Zimbabwean financial sector, the global financial sector at
larger.

a.| Assessment of financial products risk and decision making models in

modernized and 3rd world economies.
| Assessment of financial products risk and decision making analysis models in
modernized and undeveloped financial institutions.
| The problems caused by adopting westernized risks analysis and investments
decision making models.
|        
 
  
       
       

 
|    
        
      
|    
        
  

    
|              
 
|     
     
       

     

!

As of my interest I would include ±

1. The recent global financial crisis in USi.e. the Lehmanbrothers global

financial crisis. This will act as my major global comparative model,
highlighting the effects it caused to the emerging markets through
services/product contingent risk.

2. Why do we have the Zimbabwean financial crisis when global financial risks
analysis and investments decision making models are there to mitigate the
risk?What are the reasons why the global financial models failed to help
mitigate the Zimbabwean financial crisis? Explain the unique
 economicenvironment, hyper inflation environment, political crisis and
sanctions as the drivers why these models failed to help stabilize the
Zimbabwean situation. What were the effects to my current working
environment?

3. What are the effects of the adopted westernized risks analysis and investment
decision making models to my current work environment. What are the likely
future problems if this is not addressed?

4. Adoption of westernized risks analysis and investments decision making

models by undeveloped countries has also seen the heuristic thinking being
debated. Can you discuss this as evidence?

5. There is lack of tailor made risks analysis and investments decision making
models from emerging economies to save their unique financial and political
situations.

6. Political interference bygovernments into financial services sector in

modernised economies differs with undeveloped countries. Developed countries
experience stable political climates and democracy hence models developed to
manage financial products here should differ with 3rd world economies.

7. Give practical evidence of your current working environment why financial

products risks analysis and investments decision making models should be
revolved around the current micro-economic and political climate of each
country?

8. Globalregulatory effects to the financial services sector- some global

regulations are not applicable to some environments but some economies have
just adopted them to meet globalisation standards. Therefore the question is
whether financial products risks analysis and decision making models be based
on globalisation thinking?

9. Do emerging markets need to develop their tailor made financial products risks
analysis and investments decision making models for themselves and
differentiate them according to micro-economic and political environmental
situations. Give examples of emerging markets where it was impossible to adopt
any global financial model to mitigate financial risksbecause they were not
 suitable for the crisis e.g. Zimbabwean situation.

10. Rubber stamping of westernized financial products risks analysis and

investments decision making models should be limited to the purpose of the
model and whether the current environment can absorb it.

11. Talk about the human aspect-do emerging markets has the expertise to
develop their tailor made models to solve their own future financial crisis.

12. Technology resources availability, absorption and knowledge levels differ

between developed and undeveloped economies as well. Timeframes of
technology implementation leaves a lot of gaps between developed and an
undeveloped economy that by the time the first world is implementing the 4th
module the 3rd world hasn¶t received the 1st module. Therefore financial products
risks analysis and investments decision making models cannot be measured on
the same level.

13. Thedebate of heuristic habits can be applied here - categorisation and

particularisation concepts should come up open here. The reason being that
heuristic thinking could have affected developing economies more than the
developed world.

Important highlights in formulating a research problem/question

It is very important not to mix up strategic questions and research questions.

1. Strategic questions are concerned on what ought to be done in a particular

situation. The purpose of strategic question is to come up with knowledge,
understanding and the required judgement while -

2. Research questions are those that can be answered by doing a research

Please note you cannot do a research on something that has not yet happened as
reported by peters and waterman (1992) that some companies thought analysis could
determine right action and fell the trap of µparalysis by analyses.

Stage no 2 ± determine the scope

You need to decide whether you will be ±

-studying one part of an organisation

-making a comparison of several parts of an organisation

-studying one organisation

-making a comparison of two or more organisations

-studying a sector

Please note my research problem is focusing on studying one part of my

organisation which is the investments division, also studying the global financial
services sector and lastly making comparisons on more than two financial
institutions

In general a research problem need to have a comparative element because it makes

it easy to find something to write and it trebles the source of materials and you can
describe theirsimilarities and differences ColinFisher (2010)

On my research problem I will make comparisons on modern technology used by

western countries versus emerging countries technology

I will also make comparisons on products and services offered in these two different
financial services markets

I will bring human resources comparisons aspect between the two different
economies

The aspect of access to resources between the two different markets is very
important

What are the types of models that are applied in modern world economies and those
that are applicable to the emerging economies?

Stage no 3 brainstorming issues, puzzles and questions

at this stage the researcher is suppose to brainstorm and list as many different issues,
problems and research questions that arise from the broad strategic question as much
as you can do.

By now the researcher should be dwelling on research questions and not strategic
questions. Research questions are those that someone can go out and find answers
and normally they refer to what is happening or what has happened

Questions, puzzles and issues that quickly came into my mind about my chosen
research problem include the following-

What comparison can you deduce between emerging and modern world financials
servicestools?

Are the products and services offered different and if yes in what way do they differ
in results and if no what are the effects.

The environmental difference in terms of political and economical scales, how they
affect the management of financial institutions in making investments decisions.

Do the levels of access to information, resources and technology affect the

operations of the investments decision making and risk analysis models.

Is the level of understanding, application and adoption of these models the same in
both economies?

What is the rate of tolerance by the population of developed economies versus

undeveloped economies?

What are the effects of rubberstamping these models to undeveloped countries by

the western world.

Does globalisation or standardization of models fit in different economies?Give

examples of where these were applied and worked or failed.

Prove that there is lack of financial resources/muscles by emerging economies to

match globalisation standards

There is lack of financial resources to create models that match western countries
models levels.

Stage no 4 map and structure the issues above

Strategic question ± first option

How should we assess risk analysis and decision making models in the financial
services sector in developing economies and the modernized economies.

Strategic question ± second option

How can 3rd world financial services institutions create their own product risks
analysis and decision making models rather than westernization?

Research questions are as follows (what has happened or is happening)

(1)| Do both markets enjoy the same mileage by using the models?
(2)| What are the type of risks and decision making models found in both
economies?
(3)| What are the levels of understanding in using the models?
(4)| Do both markets interpret and implement the models in the same way?
(5)| Do managers in both markets have the same views on the role of the
models?
(6)| Do the financial services managers share the same culture and values in
implementing these models?
(7)| Do both markets enjoy the same political and economical benefits?
(8)| Are the playing fields the same in terms of human expertise, technology
availability and financial resources accessibility?
(9)| What about the financial muscles to attract the right expertise and
materials is it the same?
(10)| What are the negative/positive effects of using the same risks analysis and
decision making models in two different environments?
(11)| What are the effects of westernization of these models by 3rd world
countries?
(12)| what has caused 3rd world to adopt developed countries models?
(13)| What is the level of damage caused by the global financial crisis in US to
the 3rd world countries?
(14)| Does globalization and standardisation work in both markets

Stage no 5 conduct a reconnaissance

At this stage the researcher should have a clear picture of what the topic is going
to talk about. It is worthwhile to discuss with your supervisor, colleagues and
 other managers to see whether they agree with you that the topic is very
important. You also need to do a preliminary literature review to see what
others have done and whether there is enough literature to use on your
research topic.

Stage no 6 frame you research questions ±

this is the final stage where you are suppose to ensure that you are clear in what
you are doing by framing your research question in plain English as a question

Your research questions must intrigue and interest you and must be open and avoid
assumptions.

Designing my project

A research proposal is a document which indentifies the purpose and focus of your
research problem, also describes the broad nature and style of the project this was
stated by Colin fisher (2007).

Colin fisher (2007) further explained that you need to indentify the following as part
of your research proposal.

(1)|modes of knowledge you will use in your research

(2)|indentify what is your role as the researcher
(3)|what are the methodology stances that you are going to use
(4)|what is your case study
(5)|what is your main method of research
(6)|Lastly you must indentify your ethical considerations.