Business and Management Research Methods - Literature review Example

Business and Management Research Methods Business and Management Research Methods Introduction Research is basically an entity committed to finding out. No matter what someone might yearn to find out, there are likely to be a number of methods in carrying this out. Humans have for a long time now been concerned to come to terms with their surrounding and comprehend what certain things happen the way they do (Zimmerman 2001, p. 411). Plainly, research might mean to examine something or search repeatedly from different viewpoints. Thus, it is in this sense that research can be comprehended as a method of analysing cautiously, intensively and strictly, critically so as to uncover a phenomenon that people do not, up to that moment, know existed or to reject or confirm their earlier assumptions (Bryman & Bell 2011, p. 15). Research is mainly the most effective method of discovering the truth or knowledge behind something (Baker & Bettner 1997, p. 293). From an educational sense, Scapens (1990, p. 251) defines research as a critical enquiry intended to inform educational decisions and judgements so as to enhance education actions and behaviour. In the context of this paper, research is based on Ittner & Larcker (2002, p. 787) who defined it as a discipline, which tries to tackle questions that solve problems through the gathering and analysing primary data for the intension of description, generalisation, explanation and prediction. Research also assumes different methodologies and approaches depending on the field of research (Libby, Bloomfield & Nelson 2002, p. 775). Academic journal articles, especially the ones that deal with business matters have different research methodologies and approaches such as qualitative approach, quantitative approach, positivism approach, phenomenology and realism among others (Merchant, K A 2010, p. 116). This essay will critically analyse and evaluate different research methodological approaches applied in academic journal articles. The main aim is to help the reader understand the different business and management research methods that exist. Literature Review According to Johnson (1997, p. 118) business and management research should be developed in a philosophical manner. It should then be followed with its methodology or method of study detailed to better clarify and ease the analysis of subject (Podsakoff et al. 2003, p. 879). Viewing it from this context, the philosophical loom offers a framework of this research in line with its configuration, necessary evidence, colleting the data and the manner of its understanding to offer the accurate answers to research questions (Lennox, Francis, & Wang 2011, p. 589). The research commences with its initial step that is defining philosophical research methodology that should be inspected. There are quite a number of different methods of research philosophy that academic journal articles apply, for instance, positivism, realism and phenomenology (Lukka & Granlund 2002, p. 165). Each and every approach sets forth the hypothesis, as well as various practical implications in line with its position, as well as the brief account of the traits of each and every research philosophy will be discussed below. Qualitative Approach Qualitative research refers to an inquiry methodology used in lots of different academic disciplines and journals, normally in the social sciences, but in business and management research and further contexts, as well (Guthrie, Ricceri & Dumay 2012, p. 68). Researchers who employ this method aim to collect a comprehensively understanding of human actions, as well as the reasons, which govern such actions. The qualitative method not only assesses the what, when and where of a decision making, but also the how and why of decision making. However, minor but focused samples are more frequently utilised compared to slightly larger samples. Qualitative methods, in a conventional view, offer information just on specific cases studied, thus any more conclusions are only informed assertions (propositions) (Guthrie et al. 2012, p. 69). Thus, quantitative research can then be utilised to look for empirical support for similar research hypotheses. The advantage of using the qualitative approach, which can be seen from the academic journals, is that they offer depth and detail to a particular hypothesis. The qualitative approach goes deeper than analysing ranks, as well as counts through recording feelings, attitudes and behaviours (Wagenhofer 2006, p. 6). It also develops openness through motivating people to develop their knowledge by opening up new topic fields initially not taken into consideration. Qualitative approach also simulates peoples personal experiences: a comprehensive picture can be developed on why humans or something else behaves in certain manner together with their feelings on these behaviours (Lindell & Whitney 2001, p. 114). Finally, from some of journals from ABC system argue that they used qualitative research because it mainly tries to avoid pre-judgements. Thus, if utilised alongside quantitative methods, it can clarify why a specific response was obtained. A key issue in qualitative approach is dependability and/or credibility (also known as trustworthiness) (Watts 2003, p. 287). There are numerous different methods of establishing trustworthiness such as member check, peer debriefing, interviewer corroboration, negative case analysis, prolonged engagement, auditability, bracketing, confirmability and balance (Watts 2003, p. 287). Quantitative Approach Quantitative approach refers to the systematic empirical analysis of observable phenomena through mathematical, statistical and/or computational techniques (Lukka 2010, p. 110). The goal of quantitative research is to expand and utilise mathematical theories, models and/or hypotheses linking to phenomena (Van der Stede, Young & Chen 2005, p. 655). Business directors and managers used to depend on their instinct and experience to make most of their decisions (Gow, Ormazabal & Taylor 2010, p. 483). However, increasingly, numbers started becoming important indicators of decisions, especially in today’s era of big data. Thus, quantitative approaches utilised by economists and operations analysts offer solid proof to direct management decisions on distribution, production, personnel management and marketing (Innes, Mitchell & Sinclair 2000, p. 349). A majority of the articles in the ABC system that deal with accounting matter that want to foretell the financial future of organisation and businesses mainly assume the quantitative approach because it offer precise statistical information (Fields, Lys & Vincent 2001, p. 255). The measurement process is imperative to quantitative research since it offers the vital connection between mathematical expression and empirical observation of quantitative relationships. Quantitative data refers to any data, which is in numerical form such as percentages, statistics, etc (Fields et al. 2001, p. 255). Unlike qualitative approaches, which create information only on the specific cases studied, and any other general conclusion is only hypotheses, quantitative methods, on the other hand, can be utilised to confirm which of these hypotheses are true (Fields et al. 2001, p. 255). The ABC system journals claim that some of the limitations of using quantitative approach is that it collects a much narrower and, at times, superficial dataset. Its results are also limited as they offer only numerical descriptions instead of detailed narrative and basically offer less detailed accounts of human awareness (Larcker & Rusticus 2010, p. 186). Finally, another limitation, according to some the ABC journals that employed quantitative analysis, is that the research is normally conducted in an unnatural, artificial setting, thus a level of control is applied to the study (Otley 2001, p. 243). However, this control level might not usually be in place in the actual world putting out laboratory results rather than real world results. Positivism According to Otley (2001, p. 243), the positivist approach implies development of basic rules, as well as principles utilising the different systematic methods of scientific research. This approach started with idea, observation or dilemma, as it is the initial step linked to this philosophy. Following this approach, journal articles analyse the fact and objectives of the research so as to develop a logical manner of thinking in order to explain the subject of the study. In Guthrie, Petty, Yongvanich & Ricceri (2004, p.282), this method is rooted mostly in quantitative investigation. Forecast of prospective actions is utilised in the positivist approach through collecting general laws from the position of objective truth (Guthrie et al. 2004, p. 282). Rooted on a researchers confidence on value free and accurate data, this approach assesses humans, as well as their behaviours to be studied as neutrally as the part of natural world. The journal articles from the ABC system reveal that because positivism depends on quantitative data, its findings are more reliable compared qualitative research (Ittner & Larcker 2001, p. 2001). Quantitative approach is basically more “scientific” in its methods compared qualitative research, and; therefore, more credible. In academic journal articles, quantitative data offers objective information, which researchers can utilise to make scientific assumptions (Easton 2004, p. 73). Some researchers argue that because positivism assumes everything can be calculated and measured, they tend to be inflexible. Positivism observes matters as they are and normally disregard unsolved phenomena. For instance, Modell (2005, p. 231) argues that if a theory, which claims A only happens when B and C combine, thus B can never, by any means, be A. This trust can abolish lateral thinking, which is the procedure of finding answers through creatively and circuitously finding out methods of solving a problem (Modell 2005, p. 231). Phenomenology Phenomenology is also referred to as non-positivist, naturalistic and intrepretivist approach. The journal articles that utilise this method argue that the observation of phenomenon has to be central in colleting the entire description and explanation of the research question. Through the biased understanding, reality can be completely assessed (Lillis & Mundy 2005, p. 119). This approach supports that the objective truth is less significant since the reality is socially developed, thus it holds the subjective truth. The vital aspect of the non positivist approach is the research on natural environment followed with impacts on those phenomena most likely in the business and management world to foretell the behaviour of specific markets and customer behaviour (Kothari 2001, p. 105). Researchers argue that the reality is part to various variables such as time, situation, location, value of society and culture among other aspects. Thus, researchers of this method go further to discern how things happen in reality and how individual react on its occurrence instead of generalising things rooted in standards laws (Ahrens & Chapman 2006, p. 819). A majority of the organisations today depend on the creativity of their managers to take them to the next level; this is where research methodologies such as phenomenology apply as they can used to foretell the actions of such endeavours. Rooted on the different kinds of research philosophies, (Hopwood 2007, p. 1365) followed phenomenology method with a number of objectives of the research question. Built from this approach, the researcher managed to define the nature of the subject matter being analysed and to get the better interpretation of the environment in the issue occurred (Hopwood 2007, p. 1365). Employing phenomenology offered an all-inclusive description of the major aim of the study referring to the significance of risk management in our world of business (Modell 2010, p. 124). However, one limitation is that the subjectivity of the data creates difficulties in creating validity and reliability of approaches and information. It is hard to detect and prevent researcher provoked bias and also there can be challenging in guaranteeing pure bracketing, which can cause interference in the understanding and interpretation of the data (Xie 2001, p. 357). Realism Realism research philosophy depends on philosophical perceptions of positivism plus it is rooted in the statement that the objective reality subsists and it is a free part of human beings behaviour and beliefs (Kasurinen 2002, p. 323). Realism also argues that people are not regarded as objects in the studies of natural sciences, however their social influence is considered. In addition, realism offers key importance to these social influences so as to better comprehend the way of human’s thinking and behaviour, as well as their alertness of these social forces (Scapens & Bromwich 2001, p. 245). Conclusion This paper has critically analysed and evaluated the different research methodological approaches applied in academic journal articles mainly the ones used in business and management research. An in-depth analysis was made so as to expose different view as well as the strengths and weaknesses of the discussed approaches. Even though, all of the methods are different rooted in their inclinations, they appear complementary of each other in the different ways talked about, especially for quantitative analysis, qualitative analysis and positivism. Theoretically, what appear to function, it seems, is pragmatism; that the research paradigms can be used together particularly on methods of data collection, sampling and data analysis and triangulation (Kothari 2001, p. 105). Their dimensions should be overlooked since thinking of them appears to block development in a research process. Also, the paper discussed issues of reliability and validity. The assumptions linked different methods of constructing knowledge and knowledge of reality do not appear to matter in a research process (Kadous, Kennedy & Peecher 2003, p. 759). However, what seems to work is the specific methods of ways of knowing reality, in other words, the methodology. References Ahrens, T & Chapman, C S 2006, Doing qualitative field research in management accounting: positioning data to contribute to theory, Accounting, Organizations and Society vol. 31, no. 8, pp. 819-841. 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