MD4064 is a post-graduation subject that is available at the University of Central Lancashire in the field of business and management. Students of this subject get an insight into the conduction of research along with the challenges associated with them. There are numerous categories of research methodologies that are considered by the researcher and each of them can be understood from this subject. The subject also helps in understanding the ethical guidelines which are required to be followed during the gathering of raw data from individuals who would like to take part in the data gathering process. This a compulsory subject for the students of the University of Central Lancashire which needs to be passed so that students are eligible for the conduction of a dissertation which weighs maximum marks in this level. Conduction of this subject shall be very much beneficial for students to develop critical thinking, time management, and cost management skills.
There are different categories of topics that are discussed in this subject such as the categorization of the two types of research design that are considered by the researchers while designing the study such as the technical design and the conceptual design. In a conceptual design, it is very important to create a set of research objectives, a research framework, research questions, and a conceptual model for the conduction of the study. On the other hand, in a technical design, a research strategy needs to be created in the first place, after that it is important to search and store the research materials which are required in this study. A research framework is one of the most significant components of a research plan and it must be created in such a manner so that it can help in addressing the problem which is being investigated in the research. The course of the research must be understood from the list of research questions which are needed to be created in the initial phases of research and after the selection of the questions, a hypothesis needs to be created for the study as well such as an alternate hypothesis and null hypothesis.
There are different categories of research strategies which are needed to be considered such as quantitative and qualitative studies. Quantitative research is defined as the study of the collection and analysis of numerical data using different types of statistical tools. The different types of quantitative research are co-relational, descriptive, Quasi-Experimental, and Experimental research. On the other hand, Qualitative research is the analysis and collection of text-based information which does not have any numerical value to be calculated. There are different categories of methods that are used in quantitative research methods such as the grounded theory, thematic explanation, case study analysis, and narrative analysis.
The two ways of gathering data in research are primary data collection and secondary data collection, in primary data collection data is gathered mainly from primary data sources like experiments, focus groups, observation, surveys, and interviews. In the Secondary data collection method, data is gathered mainly from trade journals, business documents, official websites, government websites, public records, or open data sources. There are numerous ways that can help in the analysis of primary data such as cluster analysis, cohort analysis, regression analysis, factor analysis, text analysis, and neural networks. There are different categories of statistical software which are used for data analysis as well such as MS Excel, tableau, SPSS.
The way of conduction of research can be understood in the first place using a research philosophy. There are different categories of philosophies that are considered in research studies such as pragmatism and realism which considers both the two types of data collection method, positivism which works in a proper way if quantitative research is conducted, and interpretivism which is considered mainly in qualitative research. There are two types of research methods that can be considered in a project such as the deductive method, and the inductive method. The deductive method is defined as the approach which allows researchers to read the existing theories for answering the research questions. Whereas, the inductive method is defined as the type of method which allows researchers to observe theories and patterns to reach any kind of conclusion in the research. There are a few ethical guidelines which are needed to be considered by the research during the collection of data such as sending informed consent forms to the participants before the conduction of the interview or a survey. Checking the anonymity of the research and treating the population of people who will be taking part in the data collection process are the other ethical guidelines which are needed to be considered to ensure that the research is ethical.
There are different types of sampling techniques which are needed to be followed during the collection of data such as the probabilistic sampling method and the non-probabilistic sampling method. In the probabilistic sampling method, each member has an equal chance of being a part of the study, however, in the non-probabilistic sampling method selection of the population is based on a few factors and parameters which are chosen by the researcher. Research design needs to be selected by the researcher in such a manner so that the reliability and validity of the research are maintained. The research methodologies must be selected in such a manner so that there is no form of biasedness in the study. Hence, this subject is very much useful for the students to learn and understand the insight of designing a research project which they can apply while working in a complete dissertation in the ensuing course code in this module.
Weightage of MD4064 Course Code in Semester
The subject is a level 7 course and is available for all the students and the credit ranking of this subject is 10. Students of this subject are expected to score a minimum of 50% marks in order to get a passing grade in this subject.