The above figure shows the steps for
researching. Through study and research an individual could find solutions for
the problems. This process is called “Research Methods.” It’s a process and this
process can have activities in a sequence. The best example is
where Managers engage in studying and analysing issues. Studying patterns can
be called “Applied Research.” Creating methods can be known as “Pure Research.”
Good Decision Making
Some decisions could be made by;
- Predicting a close decision to the actual decision.
- Correct statistics (information) leads to good information.
- States of nature beyond our control (external factors)
- Invest on technology to avoid the threats of external factors
Problems that must be take in to consideration when making a good decision;
- Do we know the problem that we’re trying to solve? – Route Cause Analysis
- What is the base of the problem?
- Which part the problem occurs?
- Do they correctly recognize the relevant factors? (Factors to be added - Time, Resources & Cost)
- Problem Statement
- Theoretical significant – Develop new methods to solve problems
- Practical significant – Can it be practically applied?
6. Do they know what type of information that it needs?
- Primary Data – Different sources (Research papers), available in public domains
- Secondary Data – Directly finding information (Interviews)
- Source – Proper references
7. Do we know how to make use of this information?
8. How to implement the results of this process?
How to be a Successful Manager?
- Clearly defined problem
- Research methodology
- Pure Research vs. Applied Research
- Quantitative Research vs. Qualitative Research
- Qualitative Data – Interviews, questionnaires
- Quantitative Data – Numbers, statistics
Main research methodologies are;
- Deductive Research – Based on previous research
- Exploratory Research – Producing grounded theories
No comments:
Post a Comment