In this article, we will discuss the 5 steps of research process. The process in this article is just one of many; however, it is a tried and proven process. We will talk about problem definition, research design, data collection, data analysis and interpretation.
Management Articles & Notes
This page is dedicated to management articles, notes, tips and resources. You can find articles on a variety of topics related to management here.
In simple words, management is the art of getting things done through others. In other words, management in all business activities is considered the act of coordinating the efforts of individuals to achieve objectives and goals making use of available resources wisely. Management is frequently covered as a factor of production together with equipment, materials, and funds. Management includes the manipulation of human capital within an organization to help with the success of a business. In a commercial business, the main function of management is the satisfaction of a number of stakeholders. This usually requires making a profit, producing valued goods at affordable prices, and giving rewarding job opportunities for workers.
The research problem needs to be defined in an organized fashion, giving due weightage to all relevant points. The technique for the purpose involves the undertaking of the steps usually one after the other. A brief description of all these steps is provided in this article.
In this post, we will talk about the Time and Space Coordinates in research problem. The time dimension is always related to future. The space coordinate offers the geographical boundaries within which the action is to be taken. It is crucial that the decision maker and the researcher set up the right time reference for the decision.
The characteristics of interest determine what there is regarding the units which is of concern to the decision maker. These characteristics belong to two classes: the dependent variables and the independent variables. We will discuss about the 2 * 2 matrix created by Frank, Massy, and Wind also.
Securities and Exchange Board of India (SEBI) protects the interests of investors in securities and encourages the growth and development of the securities market. SEBI is managed by its members, which includes a Chairman, two Officers from Union Finance Ministry, one member from RBI, five members are nominated by Union Government of India. The key objectives of SEBI are: investor protection, regulation of stock markets in India, check for insider trading and control the financial Intermediaries.
Exploratory research operates as a source for building ideas that are then subjected to additional research investigation. It helps make certain that a far more comprehensive, definitive future research is not going to start with an inadequate understanding of the character of the problem. The most crucial features of exploratory research is its potential for future research.
Companies will certainly make a decision based on cost. Their intention, is to earn profits – in fact the utmost profit achievable. So how much they use of each factor of production is determined by how much that factor costs and how productive it is. If labour is inexpensive, but still nearly as productive as more costly equipment, then the company may well select labour intensive production. If, on the other hand, equipment are more productive, then they may opt for capital intensive manufacturing.
In almost every society you’ll find unlimited wants but resources are limited. In addition to this, these resources have alternative uses. For this reason each and every society needs to choose what they are to produce with such scarce resources. So each economy must make choice by considering what to produce. For instance a economy has to choose whether to create more services like transport or medical centers, or consumable items like more garments, homes or more capital goods like highways, buildings etc.
F.W. Taylor is known as the father of scientific management. Scientific management attempts to reduce the wastage of time, resources, etc which is certainly important to attain higher level of performance and minimize costs. The article talks about the main features of scientific management like Separating Planning and Doing, Mental Revolution, Scientific Selection and Training, Monetary Incentives, etc.
Exploratory Research Design is usually versatile and dynamic and can be rooted in existing literature. Having said that, it costs a lot and may be unsuccessful. The primary goal of exploratory research is to enhance a researcher’s understanding of a topic. It can help to discover possible methods to accomplish decision makers goals.