[The goal of this chapter is to discuss and justify the methodology found in this research. With this chapter, the research design is explained, the method of design of the research is discussed and justified.
Firstly, this chapter outlines the study process, then your aims and objectives of the research, and then moves to justify the research design, the info collection and analysis methods. Thereafter, a conclusion is manufactured which explains the issues related with the research methodology and limitations concerning this research. ]
The research process
Figure : The Research Process
The process above gives an outline of the research process I adapted to check out. In step one, the identification of research topic is considered as it is base for building on further on the subject of interest. As this issue I was given [__________]. The next step I followed was the literature review through this I divided the process into two distinct process - one; literature readings, reading of related material like the books, journal articles, and online other sources to help analyze and form clear notion of the keywords and also define the literature reviewing capacity through collection of data. The next process I followed was to re-read the collected data and try to suit the collected information and all the theoretical conditions and details to formulate a clear cut vision to build content and also enable for clear plan of action for even more research and literature reading if you need to. These two processes had plainly helped me to comprehend and create a refined insight of the subject and also read various previously researched articles. I QUICKLY followed the procedure of research approach and design of the research. As through this technique I possibly could conclude if the data was appropriate enough to help me build my report in match to the study objectives. Although I think that there were several other range of techniques, yet the simplest way is the effective literature review of data collection and then analyze, interpret, and today's at length and comprehensive in the AMP report.
Aims and Objectives of the research
[In line with the introduction chapter where the main objective of the research was identified as examining the factors effecting the flow of FDI in India, the following set of objectives have been developed in broader terms:
To analyze the retail sector in India
Analyze the role of FDI in growth of the retail sector
Analyze the cultural dynamics of India that impede flow of FDI in retail sector.
Understand the issues and challenges to retail industry.
Suggest measures to overcome the challenges.
Simply put, this research revolved surrounding the view that Foreign Direct Investment (FDI) will positively donate to the growth of retail sector in the country and hence may donate to the overall growth of the economy. ]
It reaches researcher's discretion to select the study methodology to choose from to develop his knowledge on the subject of choice. Hence managing the study is solely worried about the researcher's choice for the developing of the knowledge on the concerned subject. Researcher must understand that managing research is merely builds in developing knowledge in an acceptable manner.
[According to Frank Crossan (2004) the study of methodology/philosophy is essential in the maximum amount of as it can help the researcher to specify the research methods to be used in a study. ] Following process is to recognize and select a study methodology remember the sort of evidence to be collected, understood, and analyzed thus assist in clearing doubts on the study question of concern in the main topic of choice. Finally, having such approach is only going to assist to evaluate through the selected method thus decreasing the possibility of following process having lots of limitation and may even be avoiding a research methodology which is not suitable whatsoever.
[A overview of business research methodologies outlines three main different research philosophies viz. Positivism, Phenomenology and Realism (Saunders, 2003). ]
From the overview of business research methodologies there are three main and various research methodologies and they are as outlined below. (Saunders, 2003)
It is a thought process in adaptation which stresses on quantitative method of investigate phenomena. In this process the researchers assumes a job of objective analyst and concentrates on specific, effective, and efficient structured methodology which permits available facility replications. From that replications quantify the observations observed. This allows the subjected observations to statistical analysis (Proctor 2003). Positivism can be characterized as:
Methodological: Research should be quantitative. Since, only quantitative research shall form a foothold of all generalizations which are deemed necessary. The collected facts should be unified in measurement and measured quantitatively and really should be reduced to numbers.
Value freedom: Research carried out should be study of objectives to subject of concern rather than just the human beliefs and interests.
Causality: [Human behaviour is a peripheral item and desire to ought to be to identify causal explanations, thereby resulting in observation of fundamental laws. ]
Independence: The subject under investigation should be investigated with independence rather than constrict to the topic.
Reductionism: Ability to understand any problem of any size is only done when it is divided to smaller and simpler elements.
Phenomenology is a line of thought that adopts and emphasizes Interpretivism. Phenomenology encompasses a clear position to interpret and investigate the subject in a qualitative angle. Thus the basic comparison between positivism and phenomenology is the quantitative of the info and study the subject qualitative.
[The researcher assumes that it is necessary to explore the subjective meanings motivating people's actions. This would then facilitate in understanding their motives, actions and intentions. (Sanders, 2003). ]
A main element of Phenomenology is subjective as it assumes that the truth is multiple, and based on perceptions or mental constructions of the researchers. Phenomenology lays stress on the utilization of multiple and elastic methods. As it deems it might be most desirable way to study even the smallest details effective as time passes. As it in turn, can confirm a confined behaviour to an established universal and absolute truth (Crossan, 2004). The researcher has interactive sessions with others of concern so the findings are the result of these interactive sessions with the focus of meaning and understanding the situation, subject, or a phenomenon under investigation.
[The strongest argument the phenomenologist could mount is the necessity to explore the subjective meanings motivating people's actions in order to be able to understand these (Sanders, 2003). ]
This is a line of thought processing and adaptation of a stance that is exists the truth is and is varied to various perceptions. The truth is usually independent of human beings beliefs and way of thinking. Realism lays stress on examining the construction that has social interpretations and understanding within the context of subject enabling broader knowledge of social forces that influence the type of various people view (Sanders, 2003). In management and mainly from the behavioural perspective, realism can be understood as having variety of social forces that affect people behaviours in a number of multitudes.
Figure : Research Philosophy
The main objective of the research is to recognize the factors affecting [__________]. [Considering that these factors have a subjective meaning related to motives and intentions (Sanders, 2003) this specific research adopted the Phenomenology approach or mainly exploratory. ]
The major reason to adapt to this research methodology i. e. phenomenology is two-fold. In the world outside there is certainly huge amount of literature readily available about them. It is very clear that nature of the marketplace and different other factor in line with PESTAL i. e. Political, Economic, Social and Technological factors are changing dynamically and thus in the same line literature is also developing dynamically. I believe that the cultural factors have not been examined prior to the study. So, any qualitative study will lead more effective detailing of attributes that abstract and cultural specific. Though there is quantifiable of cultural aspects, the qualitative aspect in studying concepts relating to this subject will loose its essence in case a quantitative methodology is adopted.
[For studying the impact of culture on brand and retail sector all together, it is worthwhileto consider more qualitative aspects which can be easy to describe whenever a qualitative approach is adopted. Hence, Phenomenology approach is adopted of the purposes of the research which will help a subjective analysis of the data available. ]
[According to Malhotra (2004), research design is a framework or blueprint for conducting the a study project. It should plainly detail the procedural steps that are necessary to obtain the required information. According to Zikmund (2000), a research design is a master plan that specifies the techniques and procedures for collecting and analysing the needed information. ]
[Further, a study of literature associated with methodologies shows that there exist three preliminary research designs - one, exploratory, two, descriptive, and thirdly explanatory. Each one of these has a particular and individual purpose (Saunders, 2003). ]
The above three approaches are briefly explained below to create an elaborate understanding of these concepts:
[According to Malhotra (2004), the objective of exploratory research is to find through a predicament to provide understanding of the underlying phenomena. ] This format of research usually captures sufficient insights and can be exercised to subject which have been researched earlier or even to those that have garnered less of attention by the study community. Also, Proctor (2003) suggested that exploratory research is a good tool in fishing out the existing happenings. This allows completely newer picture to the existing definition of exploratory research. This holistic view of various insights on the phenomena of concern and also elevate any new findings or insights and raise questions to asses phenomena to newer platform. This eventually turns out to be useful in better understanding or a difficulty. Finally, the basic reason behind conducting exploratory research is to test the derived concepts before they are put into practice.
[According to Saunders (2003), exploratory studies could be very informal, those on secondary research such as reviewing available literature and/or data, or qualitative approaches such as objective analysis of data. The recent studies regarding qualitative analysis in business throw more light on this area. ]
Exploratory studies are in way informal as they crop out from studies which can be usually secondary researched data like the already available literature and/or data when compared with the qualitative approached studies which derive from informal discussions with concerned people preferably from the same field of concern and formal approaches like the in-depth interviews, discussions in focus groups, case studies or pilot reports of concern (Malhotra, 2004).
[According to Proctor (2003), the thing of descriptive research is to create an accurate understanding of behaviours, events or situations. Malhotra (2004) says that descriptive research is conducted to achieve different goals such as describe the characteristics of relevant groups, estimate the percentage of units in a particular population, determine the perceptions, determine the amount to which such variables are associated and finally to make specific predictions. ]
This research process is also referred to as statistical research as it provides information and data about population being examined of the concerned subject. It describes the "who, what, when, where and exactly how" of a predicament, however, not what it causes it. Thus this research is usually considered when the target is to turn out with systematic explanation which is as accurate as you can. It offers the statistically data like the amount of times events occur, or frequency, which allow effective statistical calculations like the determination of average volume of occurrences or central tendencies. (source: www. marketresearchworld. com).
As all processes, it too has some limitation, the major being that it cannot help to know what causes a specific behaviour, motivation, or happenings. [In other words, it cannot establish a causal research relationship between variables (Proctor, 2003). ]
This research is a causal analysis generally used to assemble evidences of cause and effect (causal) and their relationships. [According to Malhotra (2004), causal research is appropriate for the following purposes:
To understand which variables are the causes (Independent variables) and which variables will be the effects (Dependent variables) of any phenomenon as well concerning determine the nature of the partnership between the causal variables and the result to be predicted. ]
The main objective of the research is generally to explore the aftermaths of 1 entity to the other within an event. In order to come to conclusions, this process permits the researcher to make assumptions regarding time and event and then test the same in reality or real-time situations. To conclude, this research is process to seek explanations of actions and their implications when variable are introduced into a situation.
Figure : Research Designs
Flexible and Versatile
A pre-planned and structured design
Controlled introduction of additional variables
To discover new ideas or insights
To describe characteristics or functions
Determine cause and effect relationships
Source: Naresh K. Malhotra, Marketing Research, Fourth Edition, 2004, p. 76.
I found the exploratory design the most likely and effective process to review this subject. I realized this since I found massive amount data and also for the actual fact that available information keep changes regularly or periodically. Thus there's always a chance for newer observations subjective to the available studies or new understanding required in light of new data coming up. [As Malhotra (2004) argues, the aim of exploratory research is to find through a predicament to provide insights and understandings. As is showed in the literature review chapter, previous studies focused on aspects apart from the cultural factors and this study attempts to [_____________].
Data Collection Methods
In order to meet the aims of the project was necessary to use both primary and secondary methods of data collection:
[Secondary data is the data collected by others to be re-used by the researcher. It is also the data that contain recently been collected for purposes other than the problem accessible (Malhotra 2004). ] [This data includes both quantitative and qualitative data and can be located quickly and inexpensively (Proctor 2003). According to Malhotra (2004), secondary data can be classified as either internal or external. Internal data are those made within the organization for which the research has been conducted and it may be available in a ready-to-use format or with considerable processing requirements to extract it. Alternatively, external data are those made by sources outside the organization. ] Through the method of Desk research you'll be able to extract it in the form of published material, online databases, or information made available by syndicated services which includes sources like [________] A. T. Kearney Global Retail Development Index, A. T. Foreign Direct Investment (FDI) Confidence Index etc.
Figure: Classification of Secondary data
So, in this research attempts were devote to examine available research in the main topic of concerned and then build a conceptual framework by using large clusters of secondary data. Secondary data collection process was done by reviewing the web data and material by accessing the private and government established website and published documents. The info pulled was specifically from previous research and studies on the [____________] with respect The info extracted was mainly previous research and studies on the market behaviour with regards to the regulatory framework (Privatisation, De-Regulation and Digitalization included).
[According to Lancaster (2002), if secondary data do not provide sufficient information to satisfy research objections, primary data must then be collected. Therefore primary data is essential when a researcher cannot find the data needed in secondary sources. Market researchers are interested in primary data about demographic/socioeconomic characteristics, attitudes/opinions/interests, awareness/knowledge, intentions, motivation, and behaviour (Proctor, 2003). ]
From the info readily available on the research methodology I could draw out that there is two major classifications of primary data; quantitative and qualitative data. Quantitative research is utilized to measure events or causes while qualitative methods are essentially useful to obtain a knowledge of the subject (Malhotra, 2004). Besides, qualitative research involves examining and reflecting on the less tangible areas of a research subject such as values, attitudes and perceptions (Langevin, 1998). ]
Qualitative and quantitative researches are both often useful to illustrate the combo of patterns displayed in the region of concerned study. While doing this each of the research methods gives uplift to the other thus enriching the finish information (Proctor, 2003). However, qualitative research is usually less costly to conduct and it can evident from the grade of quantitative research (Malhotra, 2004).
From the aforementioned information, qualitative research method as classifications (As shown in figure [_____]). These classifications are deemed either direct or indirect based on true essence know to the respondents (Malhotra, 2004). [For the purpose of this project a direct approach has been adopted by choosing the governmental sources that include 'Reserve Bank of India', 'Investment Commission', 'Department of Industrial Policy & Promotion, Ministry of Commerce and Industry', 'Planning Commission'; and real international sources like 'International Monetary Fund', 'World Bank', 'United Nations Economic and Social Council', 'United Nations Capital Development Fund' etc. ]
From the literature above, focus groups is the most effective way to obtain direct technique which is achieved through conduction of research and on the other hand, none of the other techniques (projective techniques) such as Association, Completion, Construction and expressive techniques (Malhotra, 2004) which will be the major indirect techniques which is often used and are used in this project report.
[In this dissertation, qualitative research is associated with conducting a desk based research. This is a direct strategy to acquire primary and qualitative data that involves an intensive scoring of the info available through various sources(Krueger and Casey, 2000)]
[This method is quick, cheap and not too difficult to gather information without the influence of an authorized during collecting information. ]
[Proctor (2003) also suggests that this kind of approach can be used to address substantive issues such as: the many elements that show a direct bearing on the subject in mind. Along these lines, the researcher used this system in order to get information from a number of authentic sources which contain a commentary of professionals in the field. Also the factors time and money were considered due to the benefits that may be obtain with this methodology are quick, cheap and not too difficult to collect information(Krueger, 1998). ]
["The researchers who have a planned-systematic approach has a reasonably clear notion of their subject of study and plan the procedure of data collection with the purpose of producing something they can analyze at the end of such process". (Bryman and Bell 2007). ]
Accordingly, because of this research report I had developed keenly taken into account varied available aspects beforehand to summarize onto a method that could effectively fit the envisioned objective the best. I devote a great deal of planning by taking into consideration every part that may go into this research and therefore decrease the scope of any bias to a maximum degree. [The topic requires qualitative output. ] [Hence, it is opined that qualitative techniques of data collection would help serve the purpose and fit the type of the research better. ]
Finally adopting to the technique of desk-based research had smoothened my work in a recursive pattern by collecting data, analyzing and again discussing data continuously to seek meaningful inputs from the literature. Further, it had prompted my research are accountable to deep thinking process and required a great deal of analysis of facts on the floor.
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