Centre for Distance and Online Education

Online M.COM Program

Semester- I

(BUSINESS RESEARCH)
ASSIGNMENT

Prepared by Faculty Name

Name of the Student: -ANURAG RAI (M.COM)

Enrollment no:24227522010030

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 1. What are the Key characteristics of good research, and how does it differ from research
methodology?
A number of essential characteristics set good research apart and guarantee its caliber,
applicability, and dependability.
 Clarity of Purpose:
It is essential to have a well stated goal or research question. The goal ought to be clear,
quantifiable, and consistent with the field's larger context.
 Systematic Approach:
Effective research adheres to a systematic and organized procedure. This entails
organizing, gathering, analysing, and reporting data in a sensible order.
 Relevance:
The study must answer important questions or concerns that improve the field or
provide solutions to real-world difficulties.
 Validity and Reliability:
Results from research should be precise and reliable. While dependability guarantees
recurrence under comparable circumstances, validity guarantees that the research
measures what it is supposed to.
 Ethical Considerations:
Ethical norms such as informed consent, confidentiality, and resource management are
all upheld by good research.
 Originality and Innovation:
Good research frequently investigates innovative concepts, closes knowledge gaps, or
reframes preexisting ideas.
 Critical Analysis:
It entails thorough data interpretation and analysis, bias avoidance, and making sure
conclusions are supported by evidence.
 Transparency:
The methods, data, and findings should be clearly documented, allowing replication and
scrutiny by others.

While research refers to the process of systematically investigating a topic to discover new
knowledge or validate existing theories, research methodology focuses on the techniques

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 and procedures employed to conduct the research.
 Research is the broader concept, encompassing the entire investigative process, from
formulating a hypothesis to interpreting results.
 Research Methodology is a subset, detailing the tools, techniques, and strategies used, such
as qualitative or quantitative methods, sampling techniques, and data analysis approaches.

2. Explain the process of defining and selecting a research problem in business research.
Defining and selecting a research problem in business research is a crucial step that lays the
foundation for the entire study. This process involves systematic and deliberate actions to ensure
that the problem is relevant, feasible, and contributes meaningfully to the field.
 Identify a Broad Area of Interest:
Choose a broad business domain to start with, such as operations, finance, marketing, or
human resources. This guarantees that the issue is in line with the researcher's knowledge
and interests.
 Review Existing Literature:
Conduct a thorough review of scholarly articles, industry reports, and case studies to
understand the current state of knowledge. This helps identify gaps, unresolved issues, or
emerging trends.
 Engage with Stakeholders:
Talking with managers, staff members, or other stakeholders might highlight real-world
issues or areas where the company needs to improve. Scholars and professionals in the field
can also offer valuable perspectives.

 Evaluate the Feasibility:

Assess whether the potential problem is manageable within the available resources, time, and
expertise. Consider data availability, scope, and practical implications.
 Narrow Down the Focus:
Refine the problem into a specific, concise, and actionable research question. Avoid overly
broad topics by focusing on a particular aspect of the issue.
 Ensure Relevance and Importance:

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 Choose a problem that advances theory, offers practical insights, or tackles a major business
concern. The issue should be in line with the objectives of the company or the demands of
society at large.

 Validate the Problem Statement:

Clearly articulate the problem as a statement or question. Ensure it is specific, measurable,
and linked to clear objectives. Present it to peers or mentors for feedback.

By following these steps, a researcher can define and select a meaningful research problem that is
both relevant and feasible for business research. This structured approach ensures clarity and
direction for the study.

3. What are the primary differences between survey methods and observation methods in
descriptive research?
The goal of descriptive study is to accurately depict the traits of a specific person, circumstance, or
group. It emphasizes "what is" over "why it is." Surveys and observations are the two main ways that
descriptive research collects data. Although they both seek to comprehend phenomena, their
methods, advantages, and disadvantages are very different.
Survey Methods:
 Data Collection: Surveys involve administering questionnaires or conducting interviews to
collect data directly from individuals. These questionnaires can be structured with closed-
ended questions (e.g., multiple-choice, Likert scales) or open-ended questions that allow for
more detailed responses.
Strengths:
 Large Sample Sizes: Surveys can be administered to large and diverse populations,
providing a broad understanding of attitudes, beliefs, and behaviours.
 Cost-Effective: Compared to observation, surveys can be relatively inexpensive to
conduct, especially with online platforms.
 Versatility: Surveys can be used to gather data on a wide range of topics, from
demographics and opinions to experiences and behaviours.
 Quantitative Data: Surveys often generate quantitative data that can be easily
analyzed statistically.
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Weaknesses:
 Social Desirability Bias: Respondents may provide answers that they believe are socially
acceptable rather than truthful.
 Recall Bias: Respondents may have difficulty accurately recalling past events or behaviours.
 Limited Depth: Surveys may not capture the complexity of human behaviour or the
underlying reasons for certain attitudes or behaviours.

Observation Methods:
Data Collection: Observation involves systematically watching and recording behaviours or
phenomena. It can be conducted in natural settings (e.g., observing customer behaviour in a store)
or controlled settings (e.g., observing children in a laboratory).
Strengths:
 Naturalistic Data: Observations can provide insights into real-world behaviours that may not be
accurately reported in surveys.
 Unbiased Data: Direct observation can minimize the potential for social desirability bias.
 In-Depth Understanding: Observations can provide detailed information about behaviours and the
context in which they occur.
Weaknesses:
 Observer Bias: The researcher's own biases and expectations can influence their observations.
 Time-Consuming: Continuous observation can be time-consuming and labour-intensive.
 Limited Generalizability: Observations may not be representative of the larger population,
especially if the sample size is small.

Choosing the Right Method:

The choice between survey and observation methods depends on the specific research question,
the nature of the phenomenon being studied, and the available resources. Surveys are generally
more suitable for gathering data on attitudes, beliefs, and opinions, while observations are better
suited for understanding behaviours and the context in which they occur. In some cases, a
combination of both methods can be used to provide a more comprehensive understanding of the
research topic.

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 4. What are the different types of scales used in business research, and how are they classified?

Scales in business research are tools used to measure variables and collect data systematically. They
help researchers quantify abstract concepts like customer satisfaction, employee engagement, or
market preferences. These scales are classified based on the level of measurement and their
functionality.
 Classification Based on Level of Measurement
Nominal Scale:
 Description: The simplest scale used for labelling variables without quantitative value.
 Characteristics: Categorizes data into distinct groups. No order or ranking is implied.
 Example: Gender (Male/Female), Product Types (Electronics, Clothing, Furniture).

Ordinal Scale:

 Description: Provides a ranking or order to data but does not measure the exact difference
between categories.
 Characteristics: Indicates relative position but lacks information on the magnitude of
differences.
 Example: Customer satisfaction ratings (Satisfied, Neutral, Dissatisfied).

Interval Scale:

 Description: Measures variables with equal intervals between points but without a true zero.
 Characteristics: Allows comparisons of differences but not ratios.
 Example: Temperature in Celsius or Fahrenheit, Likert scales (e.g., 1 to 5 scale for satisfaction)

Ratio Scale:

 Description: The highest level of measurement, which includes a true zero point and equal
intervals.
 Characteristics: Allows for meaningful comparisons, including ratios.
 Example: Income, sales figures, weight, or age.

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  Classification Based on Functionality
Comparative Scales:

Description: Require respondents to compare one item against another.

 Types:

o Paired Comparison Scale: Compares two items (e.g., preference between Product A
and Product B).

o Rank Order Scale: Ranks multiple items in order of preference.

o Constant Sum Scale: Distributes a fixed number of points across items based on their
importance.

Non-Comparative Scales:
 Description: Respondents evaluate each item independently.

 Types:

o Continuous Rating Scale: Allows respondents to rate items on a continuous scale

(e.g., marking a point on a line).

o Itemized Rating Scale: Uses discrete categories or points (e.g., Likert Scale, Semantic
Differential Scale).

Conclusion

In business research, the choice of scale depends on the research objectives, the nature of the data,

and the level of precision required. Nominal and ordinal scales are useful for qualitative data, while

interval and ratio scales are essential for quantitative analysis. Similarly, comparative scales are

ideal for understanding relative preferences, while non-comparative scales help evaluate

standalone items.

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 5. Explain the concept of causality and the conditions necessary for casual research.
Causality refers to the relationship between two variables where a change in one variable (the
cause) directly results in a change in another variable (the effect). In business research, causal
studies aim to identify cause-and-effect relationships, such as how marketing campaigns impact
sales or how employee training affects productivity. Establishing causality helps researchers and
decision-makers predict outcomes and develop strategies based on these relationships.
Conditions Necessary for Causal Research
To establish causality, three key conditions must be satisfied:
 Temporal Precedence:

The cause must precede the effect in time. For example, a company must launch a marketing
campaign before observing an increase in sales.
 Covariation (Correlation):

There must be a consistent relationship between the cause and effect. If the cause occurs, the
effect should follow, and if the cause does not occur, the effect should not occur. For instance,
higher advertising spending should correlate with higher sales.
 Elimination of Alternative Explanations:

The observed effect must not be due to any other variables. Researchers must control for
confounding factors to isolate the cause-and-effect relationship. For example, a sales increase
should not be attributed to seasonal demand if the goal is to measure the impact of a marketing
campaign.

Conclusion
Causal research is essential for understanding and predicting outcomes in business contexts. By
ensuring temporal precedence, covariation, and eliminating alternative explanations, researchers
can establish valid cause-and-effect relationships.

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 6. What are the key principles and terms related to sampling in business research?
Sampling is the process of selecting a subset of individuals, groups, or items from a larger
population to draw conclusions about the whole. Effective sampling ensures reliable and valid
results while saving time and resources. The following are the key principles and terms:

Key Principles of Sampling

 Representativeness:
The sample should accurately reflect the characteristics of the population to ensure generalizability
of the results.
 Randomization:
Every member of the population should have an equal chance of being selected, reducing bias and
enhancing validity.
 Adequate Sample Size:
The sample must be large enough to provide statistically significant results but not so large as to
waste resources.
 Minimization of Bias:
Sampling methods should minimize selection bias, ensuring that the results are not skewed due to
an unrepresentative sample.
Key Terms Related to Sampling
 Population:
The entire group of individuals or items that the researcher wants to study (e.g., all customers of a
company).
 Sample:
A subset of the population selected for the study (e.g., 200 customers out of 10,000).
 Sampling Frame:
A list or database from which the sample is drawn (e.g., a customer database).
 Probability Sampling:
A method where each member of the population has a known and equal chance of selection (e.g.,
simple random sampling, stratified sampling).
 Non-Probability Sampling:
A method where not all members have a chance of being selected (e.g., convenience sampling,
judgment sampling).
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  Sampling Error:
The difference between the sample result and the actual population value due to the sample's
limited size or representativeness.
 Confidence Level:
The probability that the sample results are accurate within a specified margin of error (e.g., 95%
confidence level).
Conclusion
Understanding and applying these principles and terms ensures that business research generates
reliable and actionable insights, helping researchers draw valid conclusions about the target
population.

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