Research Methodology Section A Session 1 (25th Jan’14 2:00 pm to 3:30 pm)
Prof.Uday Bhate is a founder Principal Partner of nmore, a market research specialist and an IIM Ahmadabad alumnus.
“The confidence people have in their beliefs is not a measure of the quality of evidence but of the coherence of the story that the mind has managed to construct.” –Daniel Kahneman.
The need for research starts with curiosity. People observe many things but don’t ask questions. For example, why do we find 330 ml Coke cans instead of 300 ml, why is it so that in roman clocks ‘IV’ is written as ‘IIII’, ladies shirts have buttons on left side whereas men’s shirts have buttons on right side.
Market is so dynamic that the typical text book pattern study won’t help students much to fulfill the market requirements. Business schools are continuously changing the traditional pattern of evaluation and grading with more focus on class participation, case studies, gamification and live projects. Live case study competition such as Lime by HUL, Maverick by Deloitte and Mind rover by TATA Motors are being organized by the companies to reduce the gap between the industry and the educational institutes. Learning is becoming more interesting & practice based with the passage of time.
It is important to have a proper process flow of research to, as young researchers generally tend to have too many ideas that consumes time & may result in unwanted research.
The key 4 steps: Data process to Analyzing:
Step 1: Process/Analyze
Step 2: Observation
Step 3: Interpretation / Enquiry
Step 4: Strategy
A good researcher must look into the root cause of the problem rather than working on symptoms. To find out the root cause, one should keep on asking the questions (Causal analysis). While doing research, the Problem statement should clearly define the problem while the researcher must know the need for research to remain specific as per the requirements. Research objectives should be decided keeping in mind the fact that the research will be carried out systematically. More importance and time should be given to problem discovery, definition, research methods & research design. For industries, generally the need for research is to maximize profit or increase market share.
A researcher must be receptive to any type of results he gets. Intuitive mind helps us to search for a problem. Intuition helps us to find the area where to look for data or solution for a problem. So it is advisable to leverage on experience of the person as over the period of time, he would have developed a knack for that particular field. However, the problem with the intuitive mind is that there may be biases, and so these biases should be removed.
This article is written by Amitkumar Gandhi PGP2013-15 (Group 8) based on this learning from 1stlecture of Prof.Uday Bhate for Section A, Indian Institute Management Raipur.