Research Methodology free essay sample

The term research refers to the systematic method consisting of enunciating the problem, formulating a hypothesis , collecting the facts or data , analyzing the facts and reaching the certain conclusions either in the form of solutions toward the concerned problems or in certain generalizations for some theoretical formulations It is actually a voyage of discovery Research Purposes To gain familiarity with a phenomenon or to achieve new insights into the object-( termed a exploratory or formulative research studies) To portray accurately the characteristics of a particular individual , situation or a group- termed as descriptive research studies. To determine the frequency with which something occur s or with which it is associated with something else (studies with this object in view are knows a s diagnostic research studies To test a hypothesis of a causal relationship between variables (such studies r known as hypothesis-testing research studies Significance of Research In the field of applied economics whether related to business or to the country as a whole. We will write a custom essay sample on Research Methodology or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page – increasingly complex nature of business , as an aid to economic policy both for government and business. Provides the basis for nearly all government policies in our economic system- govt. budgets, basis for policy development Special significance in solving various operational and planning problems of business and industry . operational research, marketing research. and along with motivational research is considered crucial that results in business decision making. Equally important for social scientists in studying social relationships and seeking answer to the various social problem. Basic Types of Research Descriptive vs. Analytical: Descriptive research includes surveys and fact-findings enquiries of different kinds for the purpose of description of the state of affairs as it exist at present. Case Ref: HRM Practice in Grameen Phone for Employee Retention On the other hand Analytical research use facts or information that already available , and analyze these to make a critical evaluation of the material. Case Ref: Performance Measurement or business and its activity. Applied vs. Fundamental: Applied research aims at finding a solution for and immediate problem facing a society or an industry or business. , Case Ref: Applied research in complex accounting and reporting issue Where as fundamental research is mainly concerned with generalizations and with the formulation of a theory. Case Ref. Educational Research Quantitative vs. Qualitative: Quantitative research based on the measurement of quantity or amount. Case Ref. Population Survey or CENSUS Qualitative research is concerned with qualitative phenomenon, i. e. . Relating to or involving quality or kind ex. Case Ref. Population Survey, Human behavior or job satisfactions. Concept vs. Empirical: Conceptual research is related to some abstract ideas or reinterpret existing ones. Case Ref. New Product / Business Development On the other hand Empirical research relies on experience or observation alone Case Ref. Empirical Inquires and Investigation on various case Study. Others Research: Field research, laboratory research, historical research etc. Research Methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically, where we study the various steps or that are generally adopted by a researcher in studying the problem along with logic behind them. The researcher should know not only the methods/technique but also the methodology. Researcher not only need to know how to develop certain indices or tests, how to calculate the mean, median, mode, SD but they also need to know which of these methods or techniques are relevant and which area not, and what would be mean and indicate to take decision / action under certain criteria/assumption or standard. All this means that are necessary for the researcher to design his methodology for his problem as the same may differ from problem to problem Scope of Research Methodology The scope of research methodologies includes research methods and the logic behinds the methods we use in the context of our research study and explain why we are using a particular method or technique and why we are not using others so that research results are capable of being evaluated either by the researcher himself or by others. Why a research study has been undertaken? How the research problem has been defined? In what way and why the hypothesis has been formulated ? What data have been collected and why particular method has been adopted, what particular technique is used n similar other questions are usually answered when we talk of research methodology concerning a research problem or study ? Qualities of Good Research Good research is systematic : that is structured with specified steps in a sequence as defined set of rules. Good research is logical: that is logical reasoning and logical process or great value in carrying out research. Logical research makes research more meaningful in the context of decision making. Good research is Empirical: related to one or more aspects of a real situation and deals with concrete data for external validity purpose. Good research is Replicable: Research results to be verified by replicating the study and thereby a sound basis for decision. PROBLEM FACED IN RESEARCH lack of scientific training in the methodology of research Insufficient interaction between the university research departments Lack of confidence on researcher due to misuse of core information Researcher studies overlapping one another are undertaken quite often for want of adequate information. There doesn’t exist a code of conduct for researchers and inter-university and inter departmental rivalries are also quite common. Lack of adequate and timely secretarial assistance There is also the difficulty of timely available of published data from various government and other agencies. Case Ref: HRM Practice in Grameen Phone for Employee Retention Problem Statement strong competition in Business (Inter/Nationally) especially cause of scarce high education talent, and makes employee retention a significant move in keeping competitive Edge. Employee retention refers to policies and practices companies use to prevent valuable employees from leaving their job An effective human resource management practices namely employee empowerment, training and development, appraisal system compensation are the main factor for the success of a firm on employee retention Quantitative data was collected using the non probability self administered questionnaire that consist of questions with 5-points Likert scales distributed to our samples of 278 individuals. By using a Multiple Regression Analysis, it is found that, training and development, appraisal system, compensation package are significant to employee retention except employee empowerment Employees are the backbone of an organization. Hence, the retention of the employees is important in keeping the organization on track. In order to retain the best talents, strategies aimed at satisfying employee’s needs are implemented, regardless of global companies or small-sized firms. Hypothesis Of Study Employee Training H0: There is no significant relationship between employee training and employee retention. H1: There is significant relationship between employee training and employee retention. Appraisal System H0: There is no significant relationship between appraisal system and employee retention. H1: There is significant relationship between appraisal system and employee retention. Employee Compensation H0: There is no significant relationship between employee compensation and employee retention. H1: There is significant relationship between employee compensation and employee retention. Employee Empowerment H0: There is no significant relationship between employee empowerment and employee retention. H1: There is significant relationship between employee empowerment and employee retention. According to the model summary above, the R square value had gain 0. 680, which is 68 percent. These mean that 68% of dependent variable of retention can be explained by it 4 independent variable. The independent variable refer to include employee empowerment, compensation, training and appraisal system in this research, it will conclude that 32% (100% 68%) of dependent variable of retention is explained by other potential factors. The value of adjusted R square with value of 0. 463 which 46. 3% represented the significant contribution of the 4 independent variable toward dependent variable. Table ANOVA Model Summary Table at above determine satisfactory result as the significance level of the model is not over or smaller than 0. 05. Thus, model that used in this research is good. Multiple Regression Analysis Table . Multiple Regression Coefficient Multiple Regression equation: Y= C + ? X1 + ? X2 + ? X3 +†¦.. + ? Xn Y= Prediction relationship of types of variables toward retention. C= Constant value. ?= Unstandardized coefficient. X= Dimension of independent variable (employee empowerment, compensation, training and appraisal system). Based on the above table, we able to derive the following equation: Y= 0. 577 + 0. 047X1 + 0. 413X2 + 0. 155X3 + 0. 262X4 This can be interpreted that the increase of 1 unit of employee empowerment (X1) may incur the raise of 0. 047 units in retention (Y). However, for the independent variable of compensation, every 1 unit of increase will incur the raise of 0. 413 units in dependentvariable, retention. On the others hand, 1 unit increase in training may cause 0. 155 units of retention to increase. Finally, appraisal variable also have a constant relation with retention, it is every 1 unit increase in appraisal with incur the raise of 0. 262 units in retention. The highest beta indicates the independent variable is the most significant variable toward it dependent variable. From the table above, the independent variable of compensation has the highest positive beta of 0. 378, this mean that the independent variable of compensation has contribute the most and has stronger effect toward the retention if compare to others independent variable. Discussions on Major Findings Hypothesis Result Supported H1 : There is significant relationship between employee empowerment and employee retention. r =0. 417 p=0. 454 (p 0. 05) No H2 : There is significant relationship between employee compensation and employee retention. r = 0. 608 p = 0. 00 (p 0. 01) Yes H3 : There is significant relationship between employee training and employee retention. r = 0. 485 p = 0. 013 (p 0. 05) Yes H4 : There is significant relationship between appraisal system and employee retention. r = 0. 579 p = 0. 00 (p 0. 01) Yes The findings found from this study will be particularly useful for top organization to understand how they can do better to improve their employee retention strategy. the study provide empirical evidence that supports all the above independent variables to be significantly affecting the employee retention. As what the study has shown, there are significant relationship between the factors of training, compensation and appraisal on Employee retention. However, the factor of empowerment is not so significantly related to employee retention as founded from this study. This reflects the major finding of this study on how different culture might have different expectation on determining their employment satisfaction and retention.