Amazing Tips to help you study RESEARCH METHODS IN BUSINESS

Knowing your syllabus is very important before you approach the subject so lets go through the syllabus first.

Syllabus:

I)                   Fundamentals of Research :-

Meaning Objectives and Significance, Types of Research Basic Research Applied,
Descriptive, historical, Exploratory, Experimental, Ex-port-factor
and Case study approach.

Approaches to Research :-
a. Quantitative approach :-
Inferential
ii. Experimental
iii. Simulation

b. Qualitative approach :-
i. Ethnographic
ii. Phenomenological
iii. Filed Research

Importance of research in management decisions:-
Various areas of research in business:-

a)      Marketing Research

b)      Government policies and economic systems

c)      Social relationship

d)      Planning and operational problems of research in
business.

II)                Research Process :-
Selecting the topic, defining the research problem, objectives of
research, literature survey sample design, data collection,
execution of project, analysis of data and hypothesis testing,
generalization and interpretation and preparation of research
report.
Features of good research
Research design – Meaning, need features of good
research design, type of research design –
a) For exploratory research
b) For descriptive research
c) For causal research studies

III) Hypothesis :-
Meaning, importance and types, formulation of hypothesis and
testing of hypothesis.
Chi-square test, Correlation Co-efficient, Regression analysis.

IV) Sampling –
Meaning, Sample and sampling, essentials of good sample.
Sample size, methods of sampling :-
a) Probability sampling – cluster sampling, stratified
sampling, multi stage sampling.
b) Non-probability sampling :- Purposive sampling Quota
sampling, Convenience sampling.

V) Sources and Methods of data collection :-
Primary and Secondary data
a) Primary sources :-
i. Observation
ii. Interview
iii. Questionnaire
iv. Interview Schedules
b) Secondary sources
Data processing – Tabulation – Data analysis and
Interpretation
Report writing – layout of research report

TIPS:

• This subject basically deals with the different methods that businesses can adopt to conduct their research activities.
• Even though it is a new subject, this section forms the base of your understanding.
• It is very easy to grasp provided your concepts are clear.
• Sections 3 and 5 will be repeated in future, so make sure you do it well.
• If you are clear with your section 1 then understanding the entre subject will become very easy.
• The 5^th section is the easiest to understand and important from exam point of view as well, do it well!