TEAM 3
NAME: IKEGWUONU NNEKA UZOAMAKA(STUDENT NO :13)
RESEARCH METHODS FOR BUSINESS
CHAPTER 3: TECHNOLOGY AND BUSINESS RESEARCH
SUMMARY
Technology as used in this chapter refers to all hardware, software and other communication aids that are used to achieve the desired business result. To run a business, useful, timely, accurate, reliable and valid data are needed. When data in their form are evaluated, analyzed and synthesized, useful information becomes available to managers that helps them make good business decisions.
Commonly used technologies in business research includes the internet, electronic mail, the intranet, browser and website while some software used in business research includes group wave, neural networks, CAM/CAD, enterprise resource planning and data analytic software programmes. Designing questionnaires, collecting data, data analysis, web and E-mail survey are facilitated by software programs.
Emerging application in technology includes handheld device, interactive voice technology, CD-ROM and relational databases, digital whiteboards, group video conferencing, virtual reality and the linkage of PC to electronic devices.
Aspects of information systems are data warehousing, data mining and operation research.
Finally, without technology business research will be cumbersome.
REFLECTION
This chapter concentrates on the type of technology used in producing an efficient research work.
With this, technology becomes a greater responsibility of storing and securing the data because data is the life blood of companies and to protect information from a variety of threats, digital IDs and firewalls are a few of the security measures used to prevent fraud, virus, hacking, sabotage and unauthorized use.
Finally irrespective of the mode of technology used, it is important that the privacy of all individual is protected whether they are consumer’s suppliers, employers and others.
QUESTIONS 7: How would an Institution safeguard vital information when it sends important data or discharges payments over the Internet?
An Institution should encrypt information sent to clients,
Its encrypted from the company’s computer to the clients computer. The short coming in using encryption is that the more secure the encryption, the more expensive it is to set up.
The Institution can also put disclaimer information or warnings in the message sent to clients. Information is the key to business success, it is essential to protect it.
TEAM 3
NAME:IKEGWUONU NNEKA UZOAMAKA
RESEARCH METHODS FOR BUSINESS
CHAPTER 2: SCIENTIFIC INVESTIGATION
SUMMARY
The hallmarks of scientific research are purposiveness, rigor, testability, replicability, precision and confidence, Objectivity, Generalizability and Parsimony. Some obstacles in conducting scientific research in management are likely to be encountered in the measurement and collection of data in the subjective areas of feelings, emotions, attitudes and perceptions. The seven steps in the hypothetico-deductive method include Observation, Preliminary information gathering, Theory formulation, Hypothesizing, Further scientific data collection, data analysis and deduction.
Other types of research include case studies and action research. Case study involve in depth, contextual analyses of similar situations in other Organizations while Action research is undertaken by consultants who want to initiate change process in an Organization.
Finally, scientific research is not based on hunches, experience and intuition but is purposive and rigorous.
REFLECTIONS
In this chapter, we are looking at scientific investigation. Scientific research focuses on solving problems and pursues a logical, organized and rigorous method to identify the problems, gather data, analyze them and draw valid conclusions therefrom. Scientific investigation is more objective than subjective; it helps manager to concentrate on the most critical factors at the workplace that needs specific attention.
One major advantage about scientific investigation is that it is objective, it has purpose and it can be tested.
EXERCISE 7: Strictly speaking, would case studies be considered as scientific research? Why or Why not?
For me, case study is not a scientific research. Case study may have purpose, rigor, precision and confidence but it is not Objective. Objectivity is based on facts of finding derived from actual data and not on our own subjective or emotional values. Objectivity is the main difference between scientific and non scientific research.
TEAM 3
NAME: IKEGWUONU NNEKA UZOAMAKA(STUDENT NO:13)
RESEARCH METHODS FOR BUSINESS
CHAPTER1-INTRODUCTION TO RESEARCH
SUMMARY
Research is simply a close and careful study to find out facts or information. Type of research is applied and basic research. Research methods help managers to identify and effectively solve minor problems in the work setting, combine experience with scientific knowledge while making decisions and know how to discriminate good from bad research. As a manager you will often need to engage a consultant to study some of the more complex, time consuming problems that you might encounter, you can employ Internal or External consultants.
The major advantage of internal consultants is that the team would stand a better chance of being readily accepted by the employees and they would require less time to understand the structure of the Organisation while the shortcoming is that even the most highly qualified internal research team are not perceived as “experts” by the staff. The advantage of external consultants is that they can draw on a wealth of experience from having worked with different Organisation while the disadvantage is that the cost of hiring is high.
Finally, managerial effectiveness is enhanced by knowledge of research.
REFLECTION
A manager who does not research is doomed to fail. Facts or information gotten from research is the basis for effective decision making i.e the knowledge of research greatly enhances the decision making skills of the manager.
The knowledge of research methods and the appreciation of the advantages and disadvantages of the External and Internal teams help managers to make decisions on how to approach problems and determine whether internal or external researchers will be the appropriate choice to investigate and solve the problem.
EXERCISE 2: For what specific purpose is basic research important?
The purpose of conducting basic research is to generate more knowledge and understanding of the phenomena of interest and build theories based on the research results .The main motivation is to expand man’s knowledge not to create or invent something.
TAJUDEEN BABALOLA
TEAM, 1 STUDENT NO-24.
SUMMARY FOR RESEARCH METHODS FOR BUSINESS
CHAPTER 7: EXPERIMENTAL DESIGN
This chapter experimental design places emphasis on lab and field experiments. Lab experiment when a cause and effect relationship between an independent and a dependent variable of interest is to be clearly established.
Control, the causes and effect relationship between two variables x and y, there might be other factor say A.
Manipulation of the independent variable, to examine the causal effects of an independent variable on a dependent variable some manipulation need to be tried.
Internal validity refers to the confidence we place in the cause and effect relationship, to what extent the research design permits us to say that the independent variable A causes a change in the dependent variable B.
In conclusion experimental research design will help managers during their research
TAJUDEEN BABALOLA
TEAM-1, STUDENT NO-24.
SUMMARY FOR RESEARCH METHODS FOR BUSINESS
CHAPTER 8:MEASUREMENT OF VARIABLES :OPERATIONAL DEFINITION AND SCALES.
Variables measurement, object can be physically measured by some calibrated pose no measurement problems. (the length and width of a rectangular office table can be easily measured with a measuring tape or ruler)
Other measurement can be done like checking your company records to get some information , e g absenteeism/performance of employees in terms of the number of products produced or reject per month.
Operational Definition, dimensions and elements. Defining a concept to render it measureable is by looking at the behavioral dimension, facets, denoted by the concept.
Scales is a tool by which individual are distinguished as to how they differ from one another on the variables of interest to the study. Nominal scale allows the researcher to assign subjects to certain categories, ordinal scale not only categorize the variables in such a way as to denote difference among the various categories. Interval scale is use to perform certain arithmetical operation on the data collected from respondent
ELEMENTS OF RESEARCH DESIGN
SUMMARY AND REFLECTION DONE BY
NAME: CHINENYE EZENDU
STUDENT NO: 2
The chapter discussed the basic research design. The research design includes the purpose of the study which may be exploratory in nature; which involves a situation when there is inadequate information furnished for the research. It could also be descriptive research which is undertaken to establish and illustrate the characteristics of the variables of interest in a situation. The hypothesis testing was also discussed. The type of investigation to be undertaken which could be either casual study or correlational was examined. The chapter also stated that that the unit of analysis referred to the process of gathering data for analysis and the time horizon could be cross-sectional or longitudinal. Finally, the circumstances in which each design would be appropriate were examined.
REFLECTION
In understanding what a researcher is about to do, the manager has to have adequate knowledge of the research design. Before a manager takes up a study he is expected to do a thorough analysis to have an idea of the how rigorous the study maybe. The design to be adopted by the manager is contingent on magnitude of the problem experienced. Knowledge of research design helps managers to study and intelligently comment on research proposals.
Exercise 2; Page 112
There should be an advantage in stating the hypothesis both in the null and in the alternate; it adds clarity to our thinking of what we are testing. Explian
The null hypothesis is a proposition that states a definitive, exact relationship between two variables. The null hypothesis expresses the comparison between two variables; it states that when a statement is compared with a sample the correlation should be zero. A null hypothesis therefore serves as a focal point of the research, stating that there might be no difference between what we might find in the population characteristics. The alternate hypothesis can therefore be developed if there is a difference between the null hypothesis and the random sampling. The null and alternate hypothesis therefore provides clearer view of the research as to whether a statement is realistic.
SUMMARY AND REFLECTION DONE BY
NAME: CHINENYE EZENDU
STUDENT NO: 2
The Chapter discussed the broad problem area through the process of observation, defining the problem and finding possible solutions on how to solve the problem. The broad problem includes the preliminary data collection which would involve the nature of data collected, the background information, and information on structural factors. Preliminary data can also be obtained from structured and unstructured interviews. Information can also be obtained from literature review from secondary sources of data in areas that are of specific interest to the researcher. The problem definition was another aspect that was looked at and a problem was defined as any situation where a gap exists between the actual and desired ideal state.
REFLECTION
To carry out a research about a problem, observation of the situation is important. After Identifying that a problem exists in an organization a manger has to do a follow up to as to how the problem can be tackled, he has to look at areas that need attention for improvement and carry out proper investigation as to how to address the issues on ground. The chapter has emphasized that identifying the problem, information gathering through literature review and the problem definition are core aspect in research design, if the steps are adhered to a manager would find it easy to tackle problem to in the organization.
Exercise 6; Page 73
What is the purpose of a Literature Review?
The literature review ensures that no important variable that has in the past been found repeatedly to have had an impact on the problem is ignored.
The purpose of a literature review is to:
- Establish a theoretical framework for your topic / subject area
- Define key terms, definitions and terminology
- Identify studies, models, case studies etc supporting your topic
- Define / establish your area of study, ie your research topic.
Literature review helps to facilitate the creative integration of the information gathered from structured and unstructured interviews from what is found in the previous study.
THEORETICAL FRAMEWORK HYPOTHESIS DEVELOPMENT
STUDENT NO: 2
The chapter discussed the theoretical framework of a research. The entire research rests its basis on the theoretical framework. The four variables were also discussed, which are the dependent, independent, the moderating and the intervening variables. The dependent variable is the primary interest to the researcher, while the independent variable influences the dependent variable; the moderating variable has a strong contingent effect on the dependent and independent variable, while the intervening variables is one that surfaces between the time the independent variables start operating to influence the dependent variable and the time their impact is felt. The variables broaden the understanding of managers as to how multiple factors impinge on the organisational setting. It also discussed the test null and alternate hypothesis.
REFLECTION
In carrying out a research design the manager has to be aware for the need of a theoretical framework, a good framework identifies and labels the important variables in the situation that are relevant to the problem defined. If the manager possess adequate knowledge of the purpose of the theoretical framework developed and the hypothesis are generated, it enables the manager to be an intelligent judge of the research report submitted the consultant.
Exercise 5.4; Page 90
BUYING AT THE RIGHT TIME GAINS
DVIVSELLING AT THE RIGHT TIME
The researcher is particular about the benefit that would arise from the sale and the purchase of the stocks. That is the primary interest of the researcher. The benefit is the dependent variable while the buying and selling of the stocks at the appropriate time which would influence the gain derived from the stock trade is the independent variable.
CHAPTER 13
THE RESEARCH REPORT
OMONOSOSE EJEDEWE
This chapter described various types of written reports methods and the application to any research discipline. Based on various compositions the intended audiences are critical factors to deal with in any analysis and interpretation of major and minor findings should be well emphasized. A well-thought-out written report and oral presentation are critical. The written report enables the manager to weigh the facts and arguments presented therein & implement the recommendations
The primary aim is to achieve a clear, logical, coherent and concise write-up. The principles of “keep it simple, concise, objective and straightforward” and “clear organization and presentation” must be adhered to whenever possible. Simplicity by way of presenting only the essential issues, precision in quantification, specificity with little exaggeration, proper attention to formatting and layout, and paying attention to the target audience are some of the issues to be taken into account in finalizing a research report.
Research report is considered a major component of the research study for the research task remains incomplete till the report has been presented and/or written. As a matter of fact even the most brilliant hypothesis, highly well designed and conducted research study, and the most striking generalizations and findings are of little value unless they are effectively communicated to others. The purpose of research is not well served unless the findings are made known to others. Research results must invariably enter the general store of knowledge. All this explains the significance of writing research report.
CHAPTER 14
THE RESEARCH PROCESS
OMONOSOSE EJEDEWE
The chapter went through the different steps in the research process and design of hypothetical deductive studies. The chapter brought out the role of both qualitative and quantitative studies in research. Every hypothetical-deductive study must have had its genesis in prior qualitative investigation. The chapter concluded that both qualitative and quantitative studies are integral part of scientific investigations –each having their distinct role to play.
Scientific research involves the formulation and testing of one or more hypotheses. A hypothesis cannot be proved directly, so a null hypothesis is established to give the researcher an indirect method of testing a theory. Sampling is necessary when the population is too large, or when the researcher is unable to investigate all members of the target group. Random and systematic sampling is the best methods because they guarantee that each member of the population will have an known non-zero chance of being selected. Ultimately the induction and deduction process is what leads to problem solving.
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