1. Research Methodology
Unit No. 1

2. Index
1. 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….

3. Introduction
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.
Research
Research in common parlance refers to a search for knowledge. Once 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

4. 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
Some 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.

5. 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 and organization.
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

6. 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
In addition to what has been stated above, the significance of research can also be
understood 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 an
important source of providing guidelines for solving different business,
governmental and social problems. It is a sort of formal training which enables one
to understand the new developments in one‟s field in a better way.

7. Scope of Research Methodology
The scopes of research methodology are as follows:-
1. Marketing research: The process of gathering, analyzing and interpreting
information about a market, about a product or service to be offered for sale in that
market, and about the past, present and potential customers for the product or service;
research into the characteristics, spending habits, location and needs of your business's
target market, the industry as a whole, and the particular competitors you face
2. For making government policy
3. Operational research: It is a scientific method of providing executive
departments with a quantitative basis for decisions regarding the operations
under their control – Morse & Kimball
4. Motivational research: The application of the knowledge and techniques of the
social sciences, especially psychology and sociology, to understanding consumer
attitudes and behavior: used as a guide in advertising and marketing.
5. Stimulation research
Bibliography
Research Methodology- Methods and Techniques, C.R. Kothari