1. Definition of Problem:

   – In scientific research, the first stage involves clearly defining the problem or question that the research aims to address.

2. Review of Relevant Literature:

   – This stage involves conducting a thorough review of existing literature and studies related to the research topic to understand the current knowledge and identify gaps.

3. Development of a Hypothesis:

   – Based on the problem definition and literature review, researchers formulate a hypothesis, which is a testable statement predicting the relationship between variables.

4. Research Design:

   – Research design refers to the overall strategy or plan for conducting a research study. It outlines methods, procedures, data collection, and analysis techniques.

5. Collection of Data:

   – Researchers gather relevant data using chosen methods such as surveys, interviews, experiments, or observations to test the hypothesis.

6.  Analysis of Data:

   – Data collected is analyzed using appropriate statistical or qualitative techniques to draw conclusions and test the hypothesis.

7. Testing the Hypothesis:

   – Through data analysis, researchers evaluate whether the results support or reject the hypothesis formulated at the beginning of the study.

8. Interpretation of Data:

   – Researchers interpret the analyzed data to draw meaningful conclusions and discuss implications in relation to the research question.

9. Preparation of Research Report:

   – The final stage involves documenting the research process, findings, conclusions, and recommendations in a formal research report for dissemination.

QUESTIONS AND ANSWERS

1. Research & Characteristics:

   – Research is a systematic investigation aimed at discovering new knowledge or understanding phenomena. Characteristics of good research include validity, reliability, replicability, and ethical considerations.

2. Scope of Business Research:

   – Business research encompasses various areas like marketing, finance, management, operations, etc., focusing on improving business practices, decision-making processes, and understanding market dynamics.

3. Types of Research:

   – Types include descriptive (describing phenomena), correlational (examining relationships), experimental (testing cause-effect), quasi-experimental (similar to experimental but with limitations), case study (in-depth analysis of a single case), and longitudinal (studying changes over time).

4. Steps in Research Process:

   – The steps involve defining the problem, reviewing literature, developing hypotheses, designing research, collecting data, analyzing data, testing hypotheses, interpreting results, and preparing reports.

5. Research Design Significance:

   – Research design is crucial as it guides how data will be collected and analyzed to answer research questions effectively. It ensures that methods align with objectives and helps in drawing valid conclusions from the study.