Research methodology

Redman and Mory defined research as a systematic effort to gain new

knowledge, while some people consider research is a movement from known to
unknown. Research covers the search for and retrieval of systematic and
scientific facts, findings, and information for a specific purpose.
Research is a systematic search for pertinent information on a specific topic.
Research is an art of scientific investigation research in common parlance refers
to the search of knowledge. Research is essentially a logical and an organized
inquiry seeking facts through objective verifiable methods in order to discover the
relationship among them and to refer from the broad principles or laws. It is really
a method of critical thinking research may be defined as a systematic and
objective analysis and recording of controlled observations that may lead to the
development of generalization of principles or theories resulting in the predictions
and possibly ultimate control of events. Methodology is often used in a narrow
sense to refer to methods, technology or tools employed d for collection data as
well as its processing. This is also used sometimes to designate data collected to
arrive at the conclusion infect it describes that what should have been done. it
provide answer to some of the major questions while research like what must be
done, how it will be done, what data will be needed what data gathering device
will be employed ,how the sources of data would be analyzed to arrive at the
conclusion. For systematic research scientific approach is necessary. It is
therefore essential to follow systematic methodology to arrive at a proper
conclusion.

Research process

Research process consists of a series of actions or steps necessary to effectively

carry out research and desired sequencing of the steps.
The chart given below illustrates the research process .the chart indicates that
the research process consist of number of closely related activities as shown
through 1-7. But such activities overlap continuously rather than following a
strictly prescribe sequence.

The research procedure involves the following basic element

1. Selection of the subject
2. Selection of the title dissertation
3. Collection of time period.
4. Collection of data
5. Reliability of data
6. Analysis of data.
7. Reporting

1. Selection of the subject

The selection of the subject for research is a commitment of ones time and efforts in a
particular direction .there should not be any haste in deciding the topic. The research
topic may be selected from the following sources.

i) Theory of ones own interest.

ii). local or daily problems
iii) Unexplored area.
iv) discussion with research explorer or guide

2. Selection of title of dissertation

Keeping in view the nature and object behind the selection of the subject under research,
this dissertation is titled ______

3. Selection of time period:

4. Collection of data
The collection of data can be grouped into two types
a) Primary data
b) Secondary data

Primary data

Primary data are those which are collected for the first time. They are original in
character. They are collected by the researcher for the first time for his own use.
The sources of primary data includes
i) Direct personal investigation
ii) Interview
iii) Drafting a questionnaire

i) Direct personal investigation

Under this method the researcher goes and collects data himself instead of engaging
another person. This type of investigation is normally not widespread and investigation is
done in a particular locality.

ii) Interview

An interview is an n extremely effective method of gathering information. An interviewer

is always pre planned and is very important source of data collections interviewer can
obtain a lot of the required information by depicting the level of understanding of the
interviewee. Interview can be of two types such as direct personal interview and
telephone interview. Direct personal interview requires face to face contact with the
respondent. Telephone interview w consists in contacting the respondent on telephone
itself. Other interviewing technique includes structured or unstructured method. The
interview in which the questions to be asked are decided in advanced and where that
nature and pattern in which the questions asked are standardized, it is known as a
structured interview. The unstructured form of the interview is that in which the questions
are changed according to the response pattern of the respondents. In this type of interview
the pattern in which the questions are asked is not fixed and changes according to the
level of understanding of the respondent. Telephone interview can be used as a follow up
of a mailed questionnaire and is fairly used to carry out the actual interview. In practice,
both the structured and the unstructured interview techniques should be used so that the
interview is successful.

iii) Questionnaire method

Another method of data collection is a survey that consists of asking questions to a

section of people. A questionnaire is generally mailed or handed to the respondent so that
the respondent fills the questionnaire as per his view points. While filing the
questionnaire the interviewer has absolutely no involvement. . The researcher has to
ensure that the questionnaire is relevant. The questionnaire should be designed in a
manner which is relevant to the subject under enquiry and to the respondent. The
researcher should design the questionnaire keeping in the mind what exactly he wants to
know from the respondents. Questions should not be ambiguous.
Open ended questionnaires are other types of mailed questionnaires. These can be used
when all the possible answer categories are not known or whether the investigator wishes
to know the respondents opinion, the respondents is expected to answer adequately in
detail or to clarify an answer

Secondary data

Secondary data are those which have already been collected by others. When it is not
possible to collect the data f in primary form the researcher may take help of secondary
data .they are collected other than what the researcher might5 have in mind. The sources
of secondary data includes

i) book
ii) Websites
iii) Journals
iv) Company records

i) Books
A book is a collection of papers or other material with texts, pictures written on them,
bound together along one edge, within covers.
ii) websites
A web site may b either work of the individual a business or an organization and is
dedicated to some particular topic or purpose. Websites are written in or dynamically
converted to HTML (hyper text mark up language) and are accessed using a software
programmed called a web browser also known as HTTP client
iii) company records
Company record is those which contain information about the company such as journals,
ledgers, audited annual reports, cash book etc.

5) Reliability of data

The data collected for the research work is quite reliable and authentic. This is because
data has been collected from annual reports of the company.

6) Analysis of the data

The data collected for the research purpose is analyzed by mathematical techniques
_______ the researcher has chosen the above tool as the researcher feels they will serve
the best to the research study.

7) Reporting

In this study the analysis is adopted for analyzing the financial ________

Here in this study I have interpreted and analyzed primary data and then drawn the
conclusion.