Understanding Business and Management Research Methods - Assignment Example

?Understanding business and management research method Part The part of the following paper deals with critical review of an academic journal article. In this context, an article i.e. “The use of mixed methods across seven business and management fields” is selected which is written by Cameron and Molina-Azorin. The paper describes the increasing use of mixed methodology in business and management research. The authors stated that while conducting management inquiry a wide approach of methodology is used which is based on wide array of theoretical frames of business and management disciplines. Research methodologies generally are of two types viz. quantitative and qualitative research methodology (Cameron and Molina-Azorin 2011). When both of them are combined then it is known as mixed methodology. Although authors held the view that mixed methodology is increasingly used in the business and management circles, the use of pure form of qualitative or quantitative research methodology is more visible. Further, it is stated in the article that strong theoretical and conceptual framework, legitimating, publication, academic recognition and seminal mixed method theorists make mixed methodology legitimate in research arena. Along with this, the duo claimed that this methodology is gaining popularity in fields, like medicine, nursing, health, education, behavioural and social sciences which are very exact comment of them. Though, this method is now used by a number of researchers, an established definition has not yet been written. For example, according to Thurston, Cove & Meadows (2008, p. 3) ‘Mixed methods studies can either combine methods from different paradigms or use multiple methods within the same paradigm, or multiple strategies within methods’. However, The Journal of Mixed Methods Research (2006) defined mixed methods as ‘research in which the investigator collects, analyses, mixes, and draws inferences from both quantitative and qualitative data in a single study or a program of inquiry’(Andrew and Halcomb 2009). In addition to this, four time periods of the development of mixed methodology is also included in this article which is given by Creswell and Plano Clark (2007). These four time periods are Formative period (1950s - 1980s), Paradigm debate period (1970s - late 1990s), Procedural development period (late 1980s – 2000), and the Advocacy as a separate design period (2000+). In addition to this, the duo authors have also discussed the growing interest of the academic journals and scholars in this third method of research which increases the academic weight of academic paper (Bergman 2008). Creswell and Plano Clark’s (2007) discipline acceptance levels for mixed methods is used by the authors to show the acceptance level of this third methodological movement. There are three level of acceptance developed by Creswell and Plano Clark’s (2007) .i.e. Minimal, Moderate and Major. For every level of acceptance there are certain benchmarks being listed below (Cameron 2008). There are five benchmarks for minimal acceptance and they are awareness within the discipline of qualitative research, publication of actual mixed method studies in discipline studies, graduate students using mixed methods in dissertation research, discussions in journals about the need for mixed methods, and mixed methods research discussed at professional conference. There are four benchmarks for moderate acceptance i.e. leaders in the discipline advocating use of mixed methods, workshop on mixed methods research forums dedicated to the discipline, Funding companies supporting mixed methods research, methodological discussions of mixed methods in journals devoted to the discipline. There are three benchmarks for major acceptance i.e. special issues of a journal focusing on the use of mixed methods in the discipline, publication of mixed methods studies in top discipline-based journals, course on mixed methods research as part of graduate research training programs. The authors have used above discipline acceptance level to analyse use of the third methodological movement across specific management disciplines (Cameron 2010). The three levels of acceptance and the listed benchmarks help the authors to properly analyse the use of mixed methodology across specific management discipline. The authors have collected various studies conducted by different authors on different management discipline for different span of time like study conducted by Hanson & Grimmer (2005) on marketing for around 10 years and have analysed all studies on different discipline for different span of time to understand the growth of the third methodological movement. The authors have also used the coding system developed by various authors on different discipline. The authors have used six large scale studies to understand the use of mixed methods across various business and management fields (Creswell 2003). The role of mixed methods can be explored with the help of six studies in business/management fields. There were studies conducted by different authors on different discipline like the first study conducted by Hanson & Grimmer on three marketing journal, second study was conducted by Hurmerinta- Peltomaki and Nummela (2006) on four major journals in international business, and third study conducted by Molina-Azorin 2009 focused on strategic management. Thus, methodology used by the authors was in the right way to properly understand development of the third methodological movement across the time. The findings derived on the use of above methodology by the authors are represented in different categories i.e. Conceptual, Quantitative, Qualitative and Mixed methods. On the basis of above studies conducted by various authors, the results were presented in terms of percentage for various studies on different disciplines (Currall and Towler 2003). The findings concluded that out of above four categories, quantitative methods are used most frequently ranging from 46% to 65 % in different studies conducted and with an overall result of 55%. The second most used methods were conceptual ranging from 16% to 39% in different studies and with an overall result was 27%, whereas, mixed methods showed an overall result of 10% and qualitative with an overall frequency of 8%. Purely Quantitative methods have dominated the above four categories and mostly quantitative methods were used in the field of organizational behaviour and followed by other disciplines like operations management & etc. Thus, findings concluded by the authors have given a better point of view to understand the use of mixed methods across various disciplines and also have shown the development of this third methodological movement across the business and management fields (Greene 2007). The conclusion answers the question of the use of mixed methods across management fields and also the acceptance level of mixed methods across management fields. Various studies have been used to analyse whether the benchmarks which was developed by Creswell and Plano Clark have been achieved or not. The studies suggested that the all the five benchmarks of minimal acceptance were met although Quantitative methods dominate all fields. So, if the checklist that was developed by Creswell and Plano Clark is applied then the authors can conclude that mixed methods are minimal accepted across different management fields (Grimmer and Hanson 2009). Thus, conclusion derived by the authors based on different studies conducted gives an overall view whether this third methodological movement is used across various management fields and whether they are accepted across various management fields. It also helps us understand the development phase of this third methodological movement across the time span. It also gives an indication of a moderate acceptance of this third methodological movement given the special issue of journal (International journal of multiple Research Approaches: 2011 Special Issue: Mixed Methods in Business and Management) being studied. Part 2 About Understanding of business and management research method in Retail industry 1. Introduction 1.1 Background of Research: An industry comprises of retail industry and wholesale industry. The retail Industry is an important sector of the economy. An industry where individuals and companies sell their finished goods directly to consumers is known as retail industry. The process of selling goods from a fixed location in small quantity is known as retail (Hanson and Grimmer 2005). There are many subordinate services that are included in retailing, such as delivery & etc. In terms of commerce language, when goods or products are purchased in large quantities from importers, either via wholesaler or directly and then sells the product to the end user is known as “retailer” (Mertens 2005). The birth of retail industry in US was emerged in the eighteenth century starting with opening of general stores. The general stores were mostly opened at places where the population is above 5000 people. Nowadays, one of the booming industries across the world is modern retail industry (Mingers 1997). The revenue generated from the retail industry is also growing as the time is passing by. Generally, the retail industry is still being dominated by small family run stores, but nowadays the trend is changing and large scale retail chain are growing (Molina-Azorin 2008). A location where goods and services are exchanged is known as marketplace. Basically, retail industry generally deals in products like food products, soft goods & etc. There are different types of retailers in market, such as departmental stores, malls, specialty stores, variety stores & etc. The retail industry believes in cost plus pricing i.e. adding a margin above the retailer’s cost. 1.2 Research Question: On the basis of above mentioned research topic, some research questions will be formulated and worked upon. In the entire research, an attempt is made to address and answer these questions. In addition to this, these questions are core of the research as entire research revolves around trying to find out answers to the research questions only. As the research is related with methodology used in retail industry, hence the research questions of this dissertation are as follows: 1. What are the most suitable market research methods for the retail industry? 2. What are the emerging market trends in the retail industry? 3. What are the pricing policing in the retail industry? 1.2 Research objectives On the basis of above mentioned research questions, aims and objectives of research are developed, which are likely to be effective in dealing with the research topic efficiently. These aims and objectives give a direction to the research and provide a dimension, which is of utmost importance when carrying out a research. On the basis of these aims and objectives of the research, it reaches to a result. Thus, they are very crucial part of research and lead the way of the entire research. Aims and objectives of the dissertation are as follows: 1. To examine the working of the retail industry in market. 2. To determine whether the current methodology used in retail industry is adequate and whether some reforms need to be undertaken with an aim of improving them. 2. Literature review Literature review forms a very significant part of any dissertation. It presents views of several other scholars on the topic of research. Here, these views are critically discussed and pros and cons of research study are attempted to explore. Thus, literature review is secondary source of gathering information; hence, it does not contribute any original thought in the context of the research. However, it is important part of the dissertation because it makes significant contribution in backing the researcher’s point of view while providing current knowledge including substantive findings in terms of theoretical and methodological contribution. Literature review includes review of numerous journal articles, books, magazines and articles. In its simplest form, literature review is summary of all other sources along with synthesis of those sources. Thus, it gives a new interpretation to old sources. Therefore, literature review provides all relevant and pertinent information in the context of research topic and research question. While exploring various aspects of any included source, researcher’s both negative and positive views are included. It provides a broad view to the entire research and enhances its scope. Therefore, it makes significant contribution to the entire research by strengthening the researcher’s point of view (Howe 1988). The retail industry is a booming industry in the world and they are growing day by day. Market research is an essential part for the growth of any industry (Jick 1979). As we can see the retail industry is growing day by day; hence, the method followed for market research by retail industry is very important and this paper focuses on the specific methodology followed in the retail industry (Johnson and Onwuegbuzie 2004). Market research can be carried in two approaches i.e. Target market or Methodological Approach. There are two types of research in target market approach i.e. Consumer market research and Business to Business marketing research (Mir and Watson 2000). There are two ways of doing a research in methodological approach i.e. qualitative market research and quantitative market research (Long etal 2000). Generally, the method of market research followed in the retail industry is methodological approach and out of the two ways of researches, quantitative market research dominates. Nowadays, a third methodological movement is developing i.e. mixed method which is not so popular in the market as of now (Morgan 1998). The main feature of retail industry is to satisfy the needs of consumers at a price that suit consumer’s profile and then to yield profits out the product supplied to consumers. As the main objective of retail industry is to satisfy the needs of consumers on various issues that lead the seed of developing the market trends in retail industry. Retail industry is also going through a transition phase across the world (Morse 1991). Nowadays, consumers have different choices for retailing except from a general store which used to be in earlier days. By changing the current way as well as the upcoming ways of retailing can help the retail industry develop new market trends in the retail industry (Niglas 2004). As nowadays, the parameter is shifting from general stores, departmental stores to discount retailing. The usage of new technologies is also helping the retail industry to bring changes in the way of retailing (O?Cathain 2009). As we have already said that the main objective of retail industry is to satisfy the needs of consumers as per their convenience and then to earn profits, the pricing policy used by the retail industry is very important (Phelan etal 2002; Patton 1990). There are two pricing strategies followed in retail industry i.e. cost oriented, demand oriented or competition oriented pricing. In cost oriented strategy, pricing is calculated by adding a margin (Markup) to the cost of product to decided the final retail price (Pratt 2008). In demand oriented or competition oriented pricing, the name suggests the way of pricing i.e. pricing is based on the demand of product as per consumers (Reichardt and Cook 1979). 3. Methodology Selection of the best suitable research methodology for testing the hypothesis developed for the research will be discussed in the following chapter. In this regards, the primary research method of questionnaire survey is being used to ensure an effective quantitative research in reference to the hypothesis of the research in order to make the research results authentic and reliable (Reichardt and Rallis 1994). Also, detailed analysis of ethical considerations and limitations of the research method will be carried out in this chapter (Tashakkori and Teddlie 2003). The importance of Research methodology in this research topic is that it will help in short-listing the most suitable methods that will help in analyzing information related to the dissertation topic (Teddlie and Tashakkori 2006). Accurate information for the selected research topic is being gathered with the help of this methodology (Yauch and Steudel 2003). Important and relevant data can be collected, which later on would prove to be essential and of primary importance in solving the research problem in an effective manner and thus, is considered to be a crucial part of the dissertation. A sound and informative platform provided to the researcher assists in conducting the research and presenting the results in an effective manner (Plano Clark 2005). While carrying out the research, it is essential to formulate research methodology in the research, as it helps in forming particular research aims and objectives that can be achieved easily in due course of time (Molina-Azorin and Lopez-Fernandez 2009). Perfect research methodology is one that has a blueprint of research and contains ample amount of information for the researcher to read, comprehend, and analyze. Information focuses on key areas, which are: what is to be done, how the research has to be carried out and the timeline in which the research needs to be completed (Hanson etal 2005). The research is carried out in a systematic way with adequate information in hand. It is primary requirement for any research to be reliable and valid so that a strong and viable research methodology needs to be adhered to at all stages of the research (Ketchen, Ketchen and Bergh, 2005). It is evident that the basic objective of research methodology is to help the researcher in providing a strong base to carry out the research timely and in the best possible manner (Molina-Azorin 2009). 3.1.1 Research Methods Research methods selected for conducting the study are based on the logic defined in relation to the study, which is quantitative approach (Molina-Azorin 2007). In order to obtain the data and evidences about the methodology followed in retail industry, the research methods will be selected from primary and secondary sources (Creswell and Clark 2007). There are two types of research methods - primary data collection and secondary data collection methods. Primary methods, such as survey through questionnaire, interview, observation, etc. involve the approach of collecting first hand data. Secondary methods, such as case study, literature review, etc. involve the approach of collecting historical evidences and sources (Creswell, 2003). 3.1.2 Sample Selection and Data Collection Approach With an aim of organizing and conducting the data collection process effectively, random sample will be specified so that the data can be analyzed properly (Bryman 2008). In concern to the survey through questionnaire method, a sample of 100 people will be taken into accounts that were associated with retail industry at middle level. The questionnaire were sent to 100 people through e-mail & out of the 100 people included in the sample, survey through questionnaire will be conducted with 58 people. Even a pilot study was conducted so that the feasibility of the questionnaire can be understood and any loopholes can be paid due attention to (Greene and Caracelli 1997). 4. Findings/results and Discussion The findings are briefly discussed with the help of questionnaire which were asked while the survey was conducted with people connected with the retail industry at middle level via emails. The middle level management responded to the questionnaire via. Email and on the basis of responses received, we observed that 54% of people agreed that quantitative research method is frequently followed, 37% people voted for qualitative research methods and the rest 9% of people voted for mixed methods. These figures indicate that quantitative research method is the most frequently used method whereas mixed method is used in rare researches (Eberle and Elliker 200). Out of the responses received from the middle level management, 37% of the people voted for survival, 30% of the people for establishment of product, 20% of the people for market growth, and the rest 13% of the people for cost control. When asked about the importance of pricing policy in the retail industry, majority of respondents supported the survival while very close percentage of respondents thought that pricing is important for establishment of product (Mingers and Gill 1997). Out of the responses received from the middle level management, 57% of the people strongly agreed, 20% of the people only agreed, 5% of the people neither agreed nor disagreed, 10% of the people disagreed, and the rest 8% of the people for strongly disagreed. These results indicate that majority of people are of the view that market research holds a significant importance in retail industry. Out of the response received from the middle level management, 63% of the people strongly agreed, 15% of the people only agreed, 5% of the people neither agreed nor disagreed, 15% of the people disagreed, and the rest 3% of the people for strongly disagreed. In relation to application of mixed method research in retail industry, majority of respondents supported this argument (Cameron and Miller 2010). Out of the responses received from the middle level management 17% of the people strongly agreed, 23% of the people only agreed, 15% of the people neither agreed nor disagreed, 30% of the people disagreed, and the rest 15% of the people strongly disagreed. These results indicate that there are mixed responses in relation to mixed method research and that it is better than the other research methodology (Mingers 2003). Conclusion On the basis of above discussion, it can be concluded that retail industry is rapidly growing, especially in developing countries because of saturation in developed markets (Hurmerinta-Peltomaki and Nummela 2006). Before entering into a new market, whether it is domestic or foreign a company needs to know about its consumers’ tastes, needs, demands, and potential competitors. In concern to this, market research is a useful tool that gives in-depth knowledge about the target market. For this purpose various techniques are used viz. quantitative method, qualitative method, and mixed method. Mixed method is not yet widely accepted in this industry; however, its application is slowly increasing (Bazeley 2008). In addition to this, importance of this method is also recognized in this industry. Every industry has to survive the competition faced in the market and have to establish their products in the target market; hence, pricing policy is very important as per product’s demand in the market. Therefore, formulation of pricing policy as well as market research is two important aspects of the retail industry (Cameron 2009). References Cameron, R. and Molina-Azorin, J. 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What is the most frequently market research methods followed in the retail industry? Quantitative research method. Qualitative research method. Mixed Method Research 2. Why are pricing policies important for retail industry? Survival. Establishment of the product. Market capture. Cost Control 3. Do you agree that market research is helpful for retail industry in the market? Strongly Agree. Agree. Neutral. Disagree. Strongly Disagree. 4. Do you agree that application of mixed methods research is possible? Strongly Agree. Agree. Neutral. Disagree. Strongly Disagree. 5. Do you agree that mixed method research is better than the other research methodology? Strongly Agree. Agree. Neutral. Disagree. Strongly Disagree. Read More