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Friday, April 11, 2025

Formulating a research question

 The most prior step in pursuing research is Formulating a research questionA well-defined research question is crucial for guiding the entire research process, from designing the study to analyzing the data and drawing conclusions. This question guides the entire research process — including the design, methodology, data collection, and analysis. It lays the foundation upon which hypotheses, research design, and analysis strategies are built.

  • Research Question:
    It defines the specific topic and objective of the research, providing direction for the study. 
    A research question is a clear, focused, and specific question that guides a research study. It identifies what the researcher wants to understand, explore, or solve. It serves as the foundation for developing hypotheses, choosing the research design, and collecting data.

    Characteristics of a good research question:

    • Clear and concise

    • Focused on a specific problem or issue

    • Feasible to answer within available resources

    • Researchable — can be answered using data and evidence

    • Relevant to the field of study or societal needs

    Examples:

    • What factors influence customer loyalty in online retail?

    • How does remote work affect employee productivity in tech companies?

    • What is the impact of microfinance on women entrepreneurs in rural India?

  • Research Design:
    The research design is developed to answer the formulated research question, not the other way around. 
  • Data Analysis:
    The method of data analysis is chosen based on the research question and the chosen research design. 
  • Research Hypothesis:
    A hypothesis is a proposed explanation for the research question, which is tested through the study. 
In essence, the research question is the foundation upon which the entire research project is built. 

While financial support, availability of literature, and social relevance are important considerations, the primary and most sustainable driver for selecting a research problem is the researcher's genuine interest in the topic. A strong interest keeps the researcher motivated throughout the research process, which can often be long and challenging.

That said, a well-chosen research problem usually balances:

  • Researcher’s interest

  • Relevance to society or the field

  • Feasibility (resources, data, time)

  • Availability of literature and previous studies.

A research problem is feasible only when it meets all of the following criteria:

It has utility and relevance – It should be useful and meaningful in the real world or academic field.
It is new and adds something to knowledge – It should contribute fresh insights or perspectives.
It is researchable – It should be possible to investigate it using scientific methods, data, and analysis.

Together, these factors ensure that the research problem is worth pursuing and practically doable.

Basic research is also known as:
Pure research
Fundamental research
Theoretical research

It is conducted to increase our understanding of fundamental principles and theories, 

without any immediate commercial or practical application in mind. 

Its goal is to build knowledge rather than solve a specific problem.

Depending on the research method used, research can be classified as:

Survey research – Uses questionnaires or interviews to gather data from a sample.
Observation research – Involves observing subjects in their natural environment 

without interference.
Experimental research – Involves manipulating variables 

under controlled conditions to determine cause-effect relationships.

Evaluation Research is primarily concerned with assessing the effectiveness, efficiency, and impact of programs, policies, or practices. It seeks to answer questions like:

  • Are the objectives being met?

  • What outcomes have been achieved?

  • How can performance be improved?

So, it focuses on "How well are we doing?" in terms of achieving desired goals.

According to coverage or scope, research can be classified as:

Macro study – Broad in scope, often dealing with large populations, industries, or national/global issues.
Micro study – Narrow in scope, focusing on a specific group, organization, or localized issue.

Depending on the place where the research is carried out (i.e., the data-generating source), research can be classified into:

Field studies or field experiments – Conducted in real-world settings, 

such as organizations, communities, or markets.
Laboratory studies or laboratory experiments – Conducted in 

controlled environments to test hypotheses under specific conditions.
Library studies or documentary research – Involve analyzing 

existing documents, books, journals, and records.

Action research can be understood as:

A longitudinal research – It often involves repeated cycles of planning, acting, observing, and reflecting over time.
An applied research – It is aimed at solving practical problems rather than generating pure theoretical knowledge.
A kind of research being carried out to solve a specific problem – It focuses on finding immediate solutions in a specific context, such as a classroom, organization, or community.

So, the most accurate choice is: All of the above.

Method that involves recording the behavioral pattern of people, objects and events in a systematic manner to obtain information about the phenomenon of interest is Observation

Observation is the research method that involves systematically recording the behavioral patterns of people, objects, or events to gather data about a specific phenomenon of interest. It is especially useful when studying actual behavior rather than self-reported responses.

  • Survey involves asking questions.

  • Schedules are structured instruments for data collection.

  • Warranty Card is a post-purchase feedback tool, not a research method.

So, the most suitable method here is: Observation.

Historical research involves the study of past events using sources like documents, records, and archives to understand what happened and why. Because it is context-specific and based on unique past conditions, its conclusions or findings cannot be easily generalized to other situations or present-day contexts.

Other types like descriptive, causal-comparative, and experimental research aim for more generalizable findings, especially when using representative samples and proper methodology.

Explanation:

  • Ex-post facto research involves investigating the effects of variables that have already occurred naturally, without the researcher manipulating them. Since the study aims to explore the results of possible factors in the organization of effective mid-day meal interventions—where these factors and the interventions already exist—the ex-post facto method is ideal.

  • Descriptive survey method typically focuses on describing current conditions or opinions without delving deeply into cause-and-effect relationships.

  • Historical method is used to study past events by analyzing existing records, which isn’t the primary focus here.

  • Experimental method requires active manipulation of variables under controlled conditions, which is generally impractical in policy or social intervention research such as mid-day meal programs.

Thus, considering the nature of the investigation, Ex-post facto method is the most appropriate choice.

Exploratory research's main goal is to gain a deeper understanding of a problem or issue, often to refine the research question and identify the key variables for further study. This contrasts with other research types like descriptive research which aims to describe characteristics or causal research which seeks to establish cause-and-effect relationships. 

The Experimental Method aims at studying the effect of an independent variable on a dependent variable by keeping other interdependent variables constant through some type of control. 
Explanation:
The Experimental Method is a research method used to determine cause-and-effect relationships between variables by manipulating one or more independent variables while controlling for extraneous variables. The independent variable is the factor that is manipulated, and the dependent variable is the factor that is being measured for any effects. By carefully controlling the conditions of the experiment, researchers can isolate the effect of the independent variable on the dependent variable. 
Why other options are incorrect:
  • Historical Method:
    This method focuses on examining past events through primary and secondary sources to develop an interpretation, not directly manipulating variables to study cause-and-effect relationships. 
  • Comparative Method:
    This method involves comparing different groups, societies, or cultures to understand similarities and differences, but it does not typically involve manipulating variables under controlled conditions. 
  • Survey Method:
    This method involves collecting data from a group of individuals through questionnaires or interviews to understand their opinions, attitudes, or behaviors, but it does not involve direct manipulation of variables. 

1. Causal-Comparative Research (Ex Post Facto)

Definition & Objective:

  • Definition: Causal-comparative research seeks to determine cause-and-effect relationships after the events have already occurred, without direct manipulation of variables.

  • Objective: It examines the relationship between one or more independent variables (that have occurred naturally) and a dependent variable to infer possible causal connections.

Common Subjects/Fields:

  • Education: For example, comparing the effects of online learning versus traditional classroom learning.

  • Psychology: Studying the impact of parenting styles on children’s behavior.

  • Sociology: Analyzing relationships between socioeconomic status and crime rates.

  • Public Health: Comparing outcomes such as disease incidence in smokers versus non-smokers.

Key Limitation:

  • Since there is no manipulation of variables, establishing definite causality is more challenging compared to experimental research.


2. Historical Research

Definition & Objective:

  • Definition: Historical research is the systematic investigation of past events to discover, verify, and synthesize evidence about what happened and why it happened.

  • Objective: It aims to understand and interpret past events, drawing conclusions that can help explain current issues or predict future trends.

Common Subjects/Fields:

  • History: For example, a study of the Indian independence movement.

  • Political Science: Analyzing past election campaigns or political shifts.

  • Economics: Understanding historical trends in inflation or economic policies.

  • Education: Examining the evolution of teaching methods over the decades.

  • Business: Studying the rise and fall of companies or major shifts in industry practices.

Generalizability:

  • Findings from historical research are typically context-specific and cannot be easily generalized to other situations or times.


3. Descriptive Research

Definition & Objective:

  • Definition: Descriptive research is aimed at providing an accurate portrayal or account of the characteristics of a particular individual, group, situation, or phenomenon.

  • Objective: It answers the question, “What is happening?” by describing the current status of a phenomenon without necessarily explaining the underlying causes.

Common Subjects/Fields:

  • Market Research: Gathering data on consumer preferences, buying habits, and market trends.

  • Education: Surveying student attitudes and satisfaction levels regarding academic programs.

  • Healthcare: Assessing patient demographics, symptoms, or outcomes within a hospital setting.

  • Sociology: Describing lifestyle patterns or social trends in a specific community.

  • Media Studies: Analyzing audience reach or the response to media content.

Generalizability:

  • The results are often more generalizable (if the sample is representative) but are limited to describing facts rather than explaining them.


4. Experimental Research

Definition & Objective:

  • Definition: Experimental research involves the manipulation of one or more independent variables to determine their effect on a dependent variable under controlled conditions.

  • Objective: It is conducted to establish cause-and-effect relationships between variables, by comparing outcomes between groups exposed to different levels or conditions of the independent variable(s).

Common Subjects/Fields:

  • Psychology: Testing the effectiveness of therapeutic interventions on reducing anxiety or improving cognitive function.

  • Medicine/Pharma: Conducting clinical trials to evaluate new drugs or treatment methods.

  • Education: Experimenting with new teaching methods or curricular innovations to assess impacts on learning outcomes.

  • Engineering: Evaluating product performance under varying conditions.

  • Agriculture: Assessing the effect of different fertilizers on crop yield.

Strength:

  • When properly designed and executed with random assignment and controlled variables, experimental research can produce findings that are highly generalizable.


Summary Comparison Table

Type of ResearchKey QuestionSubjects/Fields ExamplesGeneralizability
Causal-ComparativeWhy is X related to Y?Education (online vs. traditional), Parenting styles, Socioeconomic studies, Public Health comparisonsSometimes (limited by non-manipulation)
HistoricalWhat happened in the past?History (independence movements), Political shifts, Economic trends, Business evolutionsRarely (context-specific)
DescriptiveWhat is happening?Market research (consumer behavior), Education (student surveys), Healthcare (patient demographics), Sociology (social trends)Often (if sample is representative)
ExperimentalWhat causes what?Psychology (therapy effects), Medicine (drug trials), Education (teaching methods), Engineering (product testing)Yes (if well-controlled).



Commerce Project - Classification

 Projects can be classified into Finance, Marketing, HRM (Human Resource Management), Entrepreneurship, and other domains based on the primary focus, objectives, and functions of the project. Here's a breakdown of how to classify them:


🔹 1. Finance Projects

Focus on managing money, investments, costs, and financial planning.

Common topics:

  • Capital budgeting decisions

  • Financial statement analysis

  • Working capital management

  • Investment risk analysis

  • Startup funding and valuation

  • Credit risk management

  • Portfolio analysis

Ask yourself:
👉 Does the project involve financial data, investment decisions, or cost management?


🔹 2. Marketing Projects

Deal with market research, customer behavior, promotion, and branding.

Common topics:

  • Consumer buying behavior

  • Brand positioning and awareness

  • Social media marketing strategies

  • Market segmentation and targeting

  • Customer satisfaction analysis

  • Digital marketing impact

Ask yourself:
👉 Is the focus on customers, promotion, sales, or market trends?


🔹 3. Human Resource Management (HRM) Projects

Centered around workforce management, training, motivation, and organizational behavior.

Common topics:

  • Employee engagement and satisfaction

  • Performance appraisal systems

  • Training and development programs

  • Organizational culture

  • Work-from-home impact on productivity

Ask yourself:
👉 Does it explore issues related to employees, motivation, training, or workplace dynamics?


🔹 4. Entrepreneurship Projects

Relate to starting and growing new ventures, innovation, and business models.

Common topics:

  • Business model development (e.g., using the Business Model Canvas)

  • Feasibility study for a startup

  • MVP (Minimum Viable Product) development

  • Entrepreneurial finance

  • Social entrepreneurship

Ask yourself:
👉 Is it about launching, validating, or scaling a business idea?


🔹 Other Common Domains

  • Operations/Production – focuses on logistics, efficiency, supply chain.

  • Information Systems – tech-driven business solutions or digital transformation.

  • International Business – focuses on cross-border trade, global strategy.

Human Capital

With Regards.,    
                                                                                                          
Dr Anthony Rahul Golden S 
M.Com., M.Phil., NET., Ph.D., MBA.,SET., NET., M.A., M.Sc. (Psy)., M.A.,  PGDBA., 
Asst. Professor of Commerce.Loyola College (Autonomous), Chennai - 34
Mobile No- 91+9176313545

https://orcid.org/0000-0001-8071-4801

https://scholar.google.com/citations?hl=en&user=faw7X-UAAAAJ    

The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.

As such, it is an intangible asset or quality that isn't (and can't be) listed on a company's balance sheet. Human capital is perceived to increase productivity and thus profitability. The more investment a company makes in its employees, the chances of its productivity and success become higher.

Key Takeaways

  • Human capital is an intangible asset not listed on a company's balance sheet.
  • Human capital is said to include qualities like an employee's experience and skills.
  • Since all labor is not considered equal, employers can improve human capital by investing in the training, education, and benefits of their employees.
  • Human capital is perceived to have a relationship with economic growth, productivity, and profitability.
  • Like any other asset, human capital has the ability to depreciate through long periods of unemployment, and the inability to keep up with technology and innovation.

Understanding Human Capital

An organization is often said to only be as good as its people from the top down, which is why human capital is so important to a company. It is typically managed by an organization's human resources (HR) department, which oversees workforce acquisition, management, and optimization. Its other directives include workforce planning and strategy, recruitment, employee training and development, and reporting and analytics.

The concept of human capital recognizes that not all labor is equal. But employers can improve the quality of that capital by investing in employees. This can be done through the education, experience, and abilities of employees. All of this has great economic value for employers and for the economy as a whole.

Since human capital is based on the investment of employee skills and knowledge through education, these investments in human capital can be easily calculated. HR managers can calculate the total profits before and after any investments are made. Any return on investment (ROI) of human capital can be calculated by dividing the company’s total profits by its overall investments in human capital.

For example, if Company X invests $2 million into its human capital and has a total profit of $15 million, managers can compare the ROI of its human capital year-over-year (YOY) in order to track how profit is improving and whether it has a relationship to the human capital investments.

Special Considerations

Human capital tends to migrate, especially in global economies. That's why there is often a shift from developing places or rural areas to more developed and urban areas. Some economists have dubbed this a brain drain or human capital flight. This describes the process that keeps certain areas underdeveloped while others become even more developed.

Human Capital and Economic Growth

There is a strong relationship between human capital and economic growth, which is why it can help boost the economy. That's because people come with a diverse set of skills and knowledge. This relationship can be measured by how much investment goes into people’s education.

Some governments recognize that this relationship between human capital and the economy exists, and so they provide higher education at little or no cost. People who participate in the workforce with higher education will often have larger salaries, which means they can spend more.

Does Human Capital Depreciate?

Like anything else, human capital is not immune to depreciation. This is often measured in wages or the ability to stay in the workforce. The most common ways human capital can depreciate are through unemployment, injury, mental decline, or the inability to keep up with innovation.

Consider an employee who has a specialized skill. If they go through a long period of unemployment, they may be unable to keep these levels of specialization. That's because their skills may no longer be in demand when they finally reenter the workforce.

An individual's human capital may depreciate if they can't or won't adopt new technology or techniques. Conversely, the human capital of someone who does adopt them will.

History of Human Capital

The idea of human capital can be traced back to the 18th century. Adam Smith referred to the concept in his book "An Inquiry into the Nature and Causes of the Wealth of Nations," in which he explored the wealth, knowledge, training, talents, and experiences of a nation. Adams suggested that improving human capital through training and education leads to a more profitable enterprise, which adds to the collective wealth of society. According to Smith, that makes it a win for everyone.1

In more recent times, the term was used to describe the labor required to produce manufactured goods. But the most modern theory was used by several different economists including Gary Becker and Theodore Schultz, who invented the term in the 1960s to reflect the value of human capacities.2

Schultz believed human capital was like any other form of capital to improve the quality and level of production. This would require an investment in the education, training, and enhanced benefits of an organization's employees.3

Criticism of Human Capital Theories

The theory of human capital has received a lot of criticism from many people who work in education and training. In the 1960s, the theory was attacked primarily because it legitimized bourgeois individualism, which was seen as selfish and exploitative. The bourgeois class of people included those of the middle class who were believed to exploit those of the working class. The theory was also believed to blame people for any defects that happened in the system and for making capitalists out of workers.

What Are Examples of Human Capital?

Examples of human capital include communication skills, education, technical skills, creativity, experience, problem-solving skills, mental health, and personal resilience.

What Is the Relationship Between Human Capital and the Economy?

Human capital allows an economy to grow. When human capital increases in areas such as science, education, and management, it leads to increases in innovation, social well-being, equality, increased productivity, and improved rates of participation, all of which contribute to economic growth. Increases in economic growth tend to improve the quality of life for a population.

How Can I Increase My Human Capital?

Ways to increase your own human capital include more education, automating finances to improve efficiency, expanding your horizons outside of your social and workplaces, obtaining more experience, increasing participation in a multitude of activities or organizations, improving your communication skills, improving your health, and expanding your network.

What Is Human Capital Risk?

Human capital risk refers to the gap between the human capital requirements of a company or organization and the existing human capital of its workforce. This gap can lead a company towards inefficiencies, inability to achieve its goals, a poor reputation, fraud, financial loss, and eventual closure. To reduce and eliminate human capital risk, an organization should train, foster, and support its workforce.

The Bottom Line

Human capital refers to the economic value of a worker's abilities and skills. Companies can enhance their human capital through recruitment or training, as well as by implementing management techniques that optimize the productivity of their existing workers. Maintaining and improving the value of human capital is usually the role of a company's HR department.


https://www.investopedia.com/terms/h/humancapital.asp