ASSIGNMENT 1
a) Name of Organisation- Post Office Services Bank
Stage in the industry- Tertiary Industry
Type of Organisation – Profit Making
Size of the organisation – have got more than 450 employees
Customer base- Hybrid model B2B and B2C
b) Topic- Risk management in Post Office Savings Bank (POSB): Risk management in
banks, assessment of practices and interconnection with performance.
Research is a process of systematic inquiry that entails collection of data; documentation
of critical information; and analysis and interpretation of that data/information, in
accordance with suitable methodologies set by specific professional fields and academic
disciplines. Research is conducted to; evaluate the validity of a hypothesis or an
interpretive framework, to assemble a body of substantive knowledge and findings for
sharing them in appropriate manners and lastly to help generate questions for further
inquiries.
The research cycle refers to the process of conducting a research study, from the initial
stages of formulating research questions to analyzing data and drawing conclusions. It
typically consists of several interconnected phases, including planning and design, data
collection, data analysis, and interpretation of findings.
The research process cycle can be illustrated using a diagram as shown below;
Specify research questions/hypothesis
Define the problem (1)
(2)
Research
process
cycle
Data collection and analysis (4) Design research (3)
Stage 1 involves defining of the problem. Finding an issue or formulating a research question is
the first step. A well-defined research problem will guide the researcher through all stages of the
research process, from setting objectives to choosing a technique. There are a number of
approaches to get insight into a topic and gain a better understanding of it. Such as surveys, case
studies, interviews with a small group of people and observational survey.
This step focuses on uncovering the nature and boundaries of a situation or question that needs to
be answered or studied. In defining the issues or problems, the researcher should take into
account the purpose of the study, the relevant background information, what information is
needed, and how it will be used in decision-making. A well-defined problem will help the
researcher through all steps of the research process, from setting goals to choosing a method.
There are a number of ways to learn more about a subject and get a better grasp on it in Step 2.
During stage 2, most research problems are difficult to solve without breaking them up into
smaller problems. The sub-problems should delineate the scope of work and define the entire
problem to be tackled. You can organize your research questions to define the sub-problems by
looking at your topic from these four perspectives: What are the parts of your topic? What is the
history? What kind of categories can you identify? How good is it? All these questions will help
me to answer the main problem.
On the other hand facts raise questions. These questions can in turn be condensed into a problem
and this problem is then given a temporary solution, yet to be tested, which is a hypothesis. A
hypothesis is a tentative explanation for certain facts. It will become part of a theory as soon as it
is confirmed by sufficient evidence. The precursor to a hypothesis is a problem, usually framed
as a question. The research hypothesis is a paring down of the problem into something testable
and falsifiable. Scientists must generate a realistic and testable hypothesis around which they can
build the experiment. Some examples could be: there is an important relationship between risk
identification and risk management, there is an important relationship between risk
understanding and risk management, there is an important relationship between risk assessment
and analysis and risk management strategies and there is an important relationship between risk
monitoring and control and risk management strategies.
Step 3 is the research design phase. This is the plan for achieving objectives and answering
research questions. It outlines how to get the relevant information. Its goal is to design research
to test hypotheses, address the research questions, and provide decision-making insights. The
research design aims to minimize the time, money, and effort required to acquire meaningful
evidence. Research projects usually look at a specific group of people, facilities, or how
technology is used in the business. In research, the term population refers to this study group.
The research topic and purpose help determine the study group.
This step is focused on creating a research plan or overall approach to how you are going to
solve the issue or problem identified. A research plan or approach is a framework or blueprint
for conducting a research project. It details the procedures necessary for obtaining the required
information, and its purpose is to design a study that will test the hypotheses of interest,
determine possible answers to the research questions, and provide the information needed for
decision-making. The research design involves the following steps: Conduct secondary data
analysis, do qualitative research, determine methods of collecting quantitative data, determine
the definition of the information needed, determine measurement and scaling procedures, design
a questionnaire, sampling process and sample size and plan of data analysis
Stage 4 involves data collection and analysis. Data collection is important in obtaining the
knowledge or information required to answer the research issue. Every research collected data,
either from the literature or the people being studied. Data must be collected from the two
categories of researchers. Experiment, questionnaire, observation and interview provide primary
data whereas literature survey, official, unofficial reports and an approach based on library
resources provide secondary data.
This step is focused on interpreting and examining the research data and coming up with a
conclusion that solves the problem. Make sure the conclusion is easy to understand and well
thought out based on the data collected. This phase often includes discussing limitations,
suggesting further research directions, and communicating the research outcomes through
reports, presentations, or publications.
Once the data is collected, researchers move on to the data analysis phase. This involves
organizing and examining the data using statistical techniques, qualitative analysis methods, or
other appropriate tools. The goal is to identify patterns, trends, relationships, or themes within
the data to answer the research questions or test hypotheses.
After collecting data, the researcher analyzes it. The data is examined based on the approach in
this step. The research findings are reviewed and reported. Data analysis involves a number of
closely related stages, such as setting up categories, applying these categories to raw data
through coding and tabulation, and then drawing statistical conclusions. The researcher can
examine the acquired data using a variety of statistical methods
The research cycle is an iterative process, with researchers frequently revisiting and refining
various stages based on feedback, new insights, or unexpected findings. It is a systematic
approach that allows for rigorous investigation, knowledge generation, and contribution to the
academic community or practical applications in various fields.
ASSIGNMENT 2
A literature review is a piece of academic writing demonstrating knowledge and understanding
of the academic literature on a specific topic placed in context. A literature review also includes
a critical evaluation of the material; this is why it is called a literature review rather than a
literature report. It is a process of reviewing the literature, as well as a form of writing.
To illustrate the difference between reporting and reviewing, think about television or film
review articles. These articles include content such as a brief synopsis or the key points of the
film or programme plus the critic’s own evaluation. Similarly the two main objectives of a
literature review are firstly the content covering existing research, theories and evidence, and
secondly your own critical evaluation and discussion of this content. Usually a literature review
forms a section or part of a dissertation, research project or long essay. However, it can also be
set and assessed as a standalone piece of work.
The importance of literature review in research cannot be overemphasized. It can be said that
without a good literature review, any research study would be doomed to fail. This is because the
purpose of a literature review is to provide a comprehensive overview of all the relevant existing
research on a particular topic. By doing so, it allows researchers to develop a clear understanding
of the current state of knowledge on their topic and identify any gaps in the research that need to
be filled.
The significance of literature review cannot be overstated because it gives direction, structure,
focus, and coherence to academic writing on a particular topic. It also allows for effective
communication among researchers by helping them to decide which issues are significant.
Moreover, it permits the researcher to situate his or her work within the existing body of
knowledge.
Literature review helps establish a context for research. One of the main objectives of the
literature review is to provide a context for the research. It puts the current research in
perspective and shows how it relates to what has been done before. It also identifies the gaps in
the existing body of knowledge and helps to formulate new research questions.
Literature review helps identify the theoretical framework. The theoretical framework provides
the conceptual underpinnings of the research and literature review is a key component in
identifying it. It helps to clarify the rationale for the study and shows how the research is linked
to existing theory.
Literature review helps clarify research questions. One of the main functions of the literature
review is to help researchers formulate clear and concise research questions. By reading
extensively about a topic, researchers can develop well-defined questions that can be addressed
through their research.
Literature review helps assess the quality of previous research. A literature review allows
researchers to critically assess the quality of previous research on the topic. It enables them to
judge the strengths and weaknesses of the previous studies and to decide whether they should
build upon or replace them.
Literature review helps comparing different studies. A literature review helps researchers to
compare and contrast existing research on a particular topic to draw better conclusions from it. It
also shows how different studies are related and explains why some questions have received
more attention than others.
Literature review gives context to the research study. The literature review provides context for
the research study that follows by showing its connection with what has already been published
on the subject. It lays out the most significant issues in the field, describes them clearly, and
explains why they are important. This allows readers to understand all subsequent research
within this context, thus giving it greater impact.
Literature review helps to identify problems. One of the main benefits of the literature review is
that it helps researchers to identify problems, issues, or controversies in the existing body of
knowledge on their topic. It then allows them to address these concerns in their work and
broaden the scope of research by contributing new ideas and insights.
Literature review provides a map for future research. A literature review can also be useful for
laying out a road map for future research studies. It identifies gaps in previous research studies
and provides information about areas where further investigation is needed.
Literature review enables researchers save time. A well-done literature review can help
researchers to save time by identifying relevant studies and steering them away from those that
are not. It also allows them to focus on the most important issues and avoid unnecessary
duplication of effort.
Literature review helps in development of new research methods. The process of reviewing the
existing literature can help researchers to develop new research methods and to improve upon
existing ones. By reading extensively about their topic, they may come up with new ways of
looking at things that can then be tested in their research study.
Literature review helps in the design of new studies. The design of a research study is based
upon the theoretical framework, which in turn is based upon the findings of the previous
literature review. By reading extensively about their topic, researchers can come up with well-
defined research questions as well as variables and hypotheses.
Literature review help evaluating the outcomes of another study. Another major benefit of the
literature review is that it can help in evaluating the outcomes of another study. This is especially
true for those studies that use quantitative methods since they generally provide more objective
data than qualitative studies do. It also helps readers to understand the merits and shortcomings
of a particular study and thus arrive at a reliable judgment about its worth.
Literature review increases understanding of cross-sectional and longitudinal studies. A literature
review provides ample information on cross-sectional and longitudinal studies, which helps
readers to understand the differences between them. The former provide current data on a
population whereas the latter study changes in exposure and outcome variables over time.
Literature review helps in realizing importance of validity and reliability. The process of
literature review makes readers more aware of the importance of validity and reliability. It shows
how these two characteristics can influence research results and thus help them to make informed
decisions about whether or not to include specific studies in their work.
Literature review helps to develop understanding about a new topic. Another benefit of the
literature review is that it helps researchers explore complex topics, which they may be
unfamiliar with at first. By reading about these topics, they can develop an understanding of
what research has been conducted on the topic and how it has been conducted. This, in turn, can
help them to develop their research study.
In conclusion, the literature review is an important process that helps researchers to develop a
better understanding of their topic and the existing body of knowledge on it. It also helps them to
identify potential problems and issues that may need to be addressed in their research study.
Therefore, it is something that should not be taken lightly and should be given the attention that
it deserves.
