As an MBA student,you need to familiarize yourself with MBA Quantitative Research Methods as this will be key to accomplishing your MBA Degree course in time. I hereby introduce you to the basic types of research methodologies:Quantitative research,Qualitative research and Participatory research. Today we look at Quantitative Research and later on handle the other two.
MBA Quantitative Research Methods
MBA Quantitative research methods is a process that involves information or data in the form of numbers. We are able to measure and quantify a whole range of research items. This could be: the people who live below the poverty line in numbers; demographic information such as the number of children in particular age-groups who go to school; the disposable income in a community; or the number of students who have access to internet in their homes in a village or estate.
The best method of carrying out MBA quantitative research is through a survey. All surveys usually call for the use of a questionnaire. The information you get from a survey is normally standardized thus very useful. Every respondent (person filling the questionnaire) answers the exact same questions. You must set a minimum number of responses for your data and once you get it, put it together for analysis. The analysis must answer your research question(s) and all that you wanted to know about the research problem.
MBA Quantitative research methods will not always result in respondents giving numbers for their answers to your questions. They might respond with a ‘yes’ or ‘no’ question, eg: ’Do you have a car?’ Some respondents might answer with a word, a sentence, or a paragraph. All this are in a bid to describe something. Eg What is your favorite computer brand? or Kindly explain how you use your computer. At the same time, other responses may involve numbers, eg How many computers does your school or organization have?
The varied responses eventually become numbers based on the way they have been analyzed. For example, you could say: 66% respondents prefer a particular computer brand, while 34% would choose another.
Kinds of MBA Quantitative Research Methods
We have many different forms of MBA quantitative research methods other than surveys. There is Observational research that involves watching or observing a number of behaviors and patterns. When you would want to establish the number of cars that use a specific intersection, you might stand at the point of intersection at specific times of the day. You would then record the makes of the cars. This could also be an attempt to monitor the number of people visiting a particular shop at certain times of the day. By recording their behaviors, you would establish whether they buy anything or they are just inquiring to compare prices. We also have more complicated forms of quantitative research which are experimental research or mathematical modelling research.
In any kind of research, always make sure to be as specific as possible by explaining your assumptions. Remember that research results may at times not provide you with everything you desired but will provide valuable insights through what they do reveal. In media research for example, it might be difficult to conclude that HIV/AIDS does not feature prominently in monitored commercial media. This may call for us to find out the reasons behind this and perhaps require you to interview the newspaper editors. This exercise will now involve doing some qualitative research to gather more data.
MBA Quantitative Research Methods tip: Surveys
We can conduct surveys in a number of ways. The most crucial thing is to visualize clearly the whole process; what kind of questions you need to ask, and ensure that the responses you will get are appropriate to answer your research question. Once you get your responses, always make sure you run through them intelligently to be sure of exactly what they are (and aren’t) telling you based on your research problem.
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