When it comes to research one has to be very specific and research needs a very acute level of observation and experimentation. There are many who defined research as for example, Redman and Mory (1923) define research as a “systematized effort to gain new knowledge Busha (1978) defines it as “Systematic quest for knowledge”. According to Kerlinger (1973), “a systematic, controlled, empirical and critical investigation of hypothetical propositions about the presumed relations among natural phenomena”
If we look into the above definitions, the word systematic is predominantly used over a number of times. Therefore there as to be a systematic way to approach towards research and its techniques.
One of the simplest way is DNA approach which have 3 major steps to carry out as follows:
- Need for the research from different stakeholders perspective.
- Research Problem.
- Research Objective.
Need for the research
Why do we need research? To answer this questions one has to first understand the situation. Sometimes common sense of what we have learnt from others or what we have learnt through personal experience or observation is not enough to generalize any conclusion on a problem of which we don’t have any evidence. Thus defining the need of research is very important. It helps in following ways:
- Extension of knowledge
- Bring to light information that might never be discovered during the ordinary course of life
- Establish generalizations and general laws which contributes to theory building
- Verify and test the existing facts and theories
- Initiate, formulate, deflect, and Analyse interrelationships between variables and to derive causal explanations
- Find solutions to problems
- Develop new tools, concepts and theories
- Aid in planning and contributes to national development
- Disseminate research findings to create awareness of current situations and problems
- Formulate strategies and policies
- Brings prestige to the person and the institution
- Promote progress of the society
Quite often we all hear that a problem clearly stated is a problem half solved. This statement signifiesthe need for defining a research problem.
Questions like: What data are to be collected? What characteristics ofdata are relevant and need to be studied? What relations are to be explored? What techniques are to be used for the purpose? Similar other questions crop up in the mind of the researcher who canwell plan his strategy and find answers to all such questions only when the research problem hasbeen well defined. For example a medical doctor, a researcher must examine all the symptoms (presented to him or observed by him) concerning a problem before he can diagnose correctly. To define a problem correctly, a researcher must know: what a problem is?
If one wants nothing, one cannot have a problem. And if one has a problem then there must be some objective(s) to be attained at.There must be alternative means (or the courses of action) for obtaining the objective(s). The scope of research is attributed towards research objectives. Before you get started it is essential to define your objectives. This is most important part of the process and will avoid wasting time and effort in later stages.
The above 3 steps can be explained by below example:
DNA of research project for personal loan
A) Need for research
Personal loan envisages the various financial needs of people who can use it at their own discretion.
B) Research Problem
What are the key factors for which people opt for personal loan and how personal loan can be easier to avail satisfying varied needs with changing time?
C) Research Objectives
Identifying the segment.
Identify the need for each segment.
Identify the constraints of bank with respect to financial products.
Evaluate and Recommend.
To find which are the different segments (SEC) who avail for personal loans?
Listing varied financial needs for availing personal loan in the segments.
The formation of framework after continuous hours of brain storming and analysis is a perfect model or rather a systematic plan and the process to evaluate the same is called as “research design”. The research design refers to the overall strategy that you choose to integrate the different components of the study in a coherent and logical way, thereby, ensuring you will effectively address the research problem; it constitutes the blueprint for the collection, measurement, and analysis of data. Note that your research problem determines the type of design you can use, not the other way around!
The function of a research design is to ensure that the evidence obtained enables you to effectively address the research problem as unambiguously as possible. In social sciences research, obtaining evidence relevant to the research problem generally entails specifying the type of evidence needed to test a theory, to evaluate a program, or to accurately describe a phenomenon. However, researchers can often begin their investigations far too early, before they have thought critically about what information is required to answer the study’s research questions. Without attending to these design issues beforehand, the conclusions drawn risk being weak and unconvincing and, consequently, will fail to adequate address the overall research problem.
Given this, the length and complexity of research designs can vary considerably, but any sound design will do the following things:
- Identify the research problem clearly and justify its selection,
- Review previously published literature associated with the problem area,
- Clearly and explicitly specify hypotheses [i.e., research questions] central to the problem selected,
- Effectively describe the data which will be necessary for an adequate test of the hypotheses and explain how such data will be obtained, and
- Describe the methods of analysis which will be applied to the data in determining whether or not the hypotheses are true or false
There are many ways to classify research designs, but sometimes the distinction is artificial and other times different designs are combined. Nonetheless, the list below offers a number of useful distinctions between possible research designs
Descriptive: examples can be case study analysis, naturalistic observation or intensive surveys.
Correlational:includes combining and relating or comparing like case control study or observational study.
Semi-experimental:examples can be field experiment or quasi experiment
Experimental: experiment with random assignment and analysis various probabilities.
Review: Literature review, systematic review
Section B Group 6_Apurva Ramteke(13PGP068)
- Chandan Parsad(13FPM002)
- Komal Suchak (13PGP086)
- Rohan Kr. Jha (13FPM004)
- Silpa Bahera (13PGP107)
- Sushil Kumar (13FPM010)
- Vivek Roy (12FPM005)
- Vaneet Bhatia (13FPM008)