Transcript Research - Banks and Markets

Introduction to Research Methods
by Binam Ghimire
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Learning Objectives
 understand research
 outline the purpose of management research
 position any research on a scale between basic research
and applied research
 understand the stages of the research process that you
need to consider
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The Researcher
 Who Is a Researcher?
 We are all researchers, whether or not we have
researcher in our job title. In all our roles (in life) we
"systematically investigate materials, etc., to establish
facts and new conclusions".
 Research can be formal and informal.
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The Researcher
 We should all be aware of accepted research techniques
and methods, even if we are not involved in the data
collection.
 The results of research can affect our livelihoods, and
we can only decide how much notice to take if we
understand the methods used.
 More important research gives us ammunition with
which we can defend our actions. Research can fix
problems, but beware - it can create new ones.
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The Researcher
 In or outside?
 Research at Work
 In the workplace, of course, employees don't always
undertake their own research and may invest in
outside consultants. (You may even find yourself
working at one of these management consultancies,
after graduation.)
 When should you consider using an outside firm, and
when should you perform research "in house?“
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In House or Outside Firm?
 Want to save time?
 Want fresh insights?
 Does the research require special expertise?
 Want to save money?
 Will we need to follow up on the results?
 Want to be objective?
 Is close employee collaboration required?
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Good Researcher?
 Are you a good researcher? Give yourself a score from
one to ten (ten being the most positive) for each item.
Are You?
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Productive?
Able to use resources well?
Able to think of good ideas?
Curious?
Attentive to detail?
Well motivated?
Persistent?
Open to new ideas?
A self-starter?
A critical thinker?
 Find your score. How will you improve it?
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Research
 Research Cycle
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Research
 Finding the expected
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Games boost UK
tourism
 A 2007 survey
commissioned by
VisitBritain covered
people from 35
countries around the
world.
 Of those who said
they wanted to visit
the UK, one in three
cited the Games as
their main reason for
coming.
Research
 Finding the unexpected
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Research
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Research
 The encyclopedic Oxford English Dictionary defines it as: the
systematic investigation into the study of materials, sources etc. in
order to establish facts and reach new conclusions; an endeavour
to discover new or collate old facts etc. by the scientific study of a
subject or by a course of critical investigation.
 Dominowski (1980, p. 2) Research is a fact-finding activity.
 Leedy (1989, p.5) Research is a procedure by which we attempt to
find systematically, and with the support of demonstrable fact, the
answer to a question or the resolution of a problem.
 Kerlinger (1970, p.8) the systematic, controlled, empirical and
critical investigation of hypothetical propositions about presumed
relations among natural phenomena.
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Research
 Different than Experience and Reasoning.
 Experience: valuable knowledge can be gained. But
Limitation of methodically and reliably extending
knowledge and understanding of the world. Walliaman
(2001, p.8) says learning from experience tends to be
haphazard and uncontrolled.
In experience,
conclusions are quickly drawn
But research is systematic
and controlled
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Research
 Reasoning: inductive and deductive.
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Research
 Inductive
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Research
 Deductive
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Research
 Reasoning: inductive
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Research
 Three conditions must be satisfied for such
generalizations to be considered legitimate by
inductivists:
1) There must be a large number of observation
statements.
2) The observations must be repeated under a large range
of circumstances and conditions.
3) No observation statement must contradict the derived
generalization.
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Research
 Reasoning: inductive
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Research
 Reasoning: deductive
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Research
 True/ False?
Deductive is also sometime called “top down”
approach
Inductive is “bottom up” approach
 Inductive or Deductive?
Moving from more general to the more specific
Moving from more specific to broader generalizations
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Research
 Research is different than Experience and Reasoning.
 Foundation of scientific research: it is the combination of
experience with deductive and inductive reasoning
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Research
 Cohen and Manion, (1994, p. 5) Research is a
combination of both experience and reasoning and must
be regarded as the most successful approach to the
discovery of truth.
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Research
 But is social science research same as ‘scientific’
research?
 Some sociologists: No - there is a distinct difference
between research into the natural world and research
into the habits, traditions, beliefs, organizations, etc. of
human beings. Being human ourselves, we cannot take
an impartial view of others, and we cannot establish
‘facts’ as fixed eternal truths. We can only aim for
interpretation and understanding of the social world.
 The debate about the nature of social research is a lively
one and is based around the philosophical aspects of
epistemology and ontology.
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Research
 Epistemology is the branch of philosophy that deals
with how knowledge of such phenomena is acquired,
and what counts as knowledge.
 Ontology refers to the philosophy of the existence and
nature of phenomena.
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Nature of Management Research
 Why do we carry out Business Research?
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Nature of Management Research
 Reasons for Management Research
 Think of the different functions (and processes) of
management. Think of marketing, production,
personnel and finance.
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Nature of Management Research
 Research helps in:
 Decision-making
 Planning and Control
 Operations
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Nature of Management Research
 Examples
 What distinguishes management research from other
types of research?
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Management research is distinctive
because...
 Eclectic.
 Only research if there is an advantage
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Pure and applied research
 Think of research as being a continuum. There is "pure"
research, with no obvious short-term benefit; at the
other extreme, there is "applied" research, with clear
benefits that are immediately useful.
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Pure and applied research
 Pure Research
A research study was carried out to see whether
people noticed web addresses on television
advertisements. In the short term, this study may
have no benefit to an individual advertiser, but in the
long term, it could help designers avoid "clutter", if
addresses are indeed not noticed.
Little focus on exploitation of the research output by
practioner. Research is fundamental in nature rather
than applied.
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Pure and applied research
 Applied Research
A research study was carried out to see how many
people placed an order for a product by using the
free phone number provided or by making a pre-paid
phone call. This is clearly beneficial for choosing the
most profitable route.
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Summary
 Management research is a systematical investigation
that is administered to establish facts and find new
conclusions. It:
 finds solutions to improve performance and the
situations of customers, employees and other
audiences.
 embraces both theory and practice. There is
"pure" research, with no obvious short-term benefits
(but possible long-term benefits); at the other
extreme, there is applied research, with clear,
immediate value.
 helps in decision-making, planning and control,
in addition to operations.
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Practice Questions
 True or False?
Research is transdisciplinary (i.e. it is universal, such
as qualitative, questionnaire – you can apply to any
field)
Research should adopt theory.
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Practice Questions
 Inductive or Deductive?
Student to friends : “The tutor has a tattoo of an
anchor on his arm. He probably served in the Navy
in the past.”
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Practice Questions
 Inductive or Deductive?
All elephants are vegetarians, this new born is an
baby elephant. Therefore, the baby elephant is a
vegetarian
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Practice Questions
 Inductive or Deductive?
 All swans which have been observed are white in
colour. Therefore one can conclude that swans are
white.
All live mammals breathe. This cow is a live mammal.
Therefore, this cow breathes.
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Practice Questions
 Inductive or Deductive?
 Build up theory
 Test theory
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Good and bad research
 "The student was too ambitious, he should have limited
the topic to something smaller."
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Good and bad research
 "The student didn't ask for advice. He skipped meetings
we had agreed."
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Good and bad research
 "The student left everything until the last minute. There
was no progress reporting."
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Good and bad research
 "The student did not set a clear objective. That meant
that he was indecisive and collecting anything, just in
case it came in useful. Web sites, photocopies, even
large questionnaires so asking questions just in case the
information could be useful."
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Good and bad research
 "The student could not analyse the data collected, she
was not capable."
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Good and bad research
 "The student's conclusion was not based on the
information collected. She "jumped" to that conclusion
because it seemed to her to be the right answer."
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Struggling to find a topic
?
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Topic
 Brainstorming
 Idea generation by two or more people thinking as
freely as possible. You can think wide and wild!
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Topic
 Gap Analysis
 No Knowledge and or advance knowledge
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Topic
 Existing project titles
 Look for areas where no knowledge exists, this will need
some literature review and investigation
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Topic
 Repeat a Project
Look for areas where no knowledge exists, this will need
some literature review and investigation
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Topic
 Forced relationship
 Take two or more words of interest and force them
together and consider possible topics they suggest.
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Good and bad research
 Usefulness
 Important
 Achievable
 Interesting
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Struggling to find a topic
?
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Sample Proposal
 Discuss the strengths and weaknesses of Binam
Ghimire’s Proposal
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