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The choice of the appropriate research design and the method of collecting data is among many of the most naive tasks of students working on their IGNOU project. Most students begin writing their IGNOU mcom projects without clearly understanding what kind of research they're actually conducting. Thus, the methodology section appears inadequate, copied, or disconnected from the topic.
This article will focus on the process of selecting an appropriate research style and method of data collection specifically for IGNOU Project MCOM (check it out) MCom projects. It presents concepts in simple way and connects them to examples so that students are able to apply them quickly.
Research design is a plan for your study. It establishes the direction of your research project. If the design of your research is wrong, everything that will follow data collection the conclusion, and analysis becomes suspect.
IGNOU does not expect complex or high-tech research designs. What they want is alignment. The design must be consistent with your goals, objectives, topic, as well as information availability.
Many students get a grade not because their subject is poor However, the style of their work doesn't align with the purpose they've outlined in their essays.
Research design explains what type of study you're undertaking. It provides answers to three key questions.
What is being study?
the reason it is being examined
How it is being investigated
For ignou's MCOM projects research design typically falls among the following classes.
This is one of the most commonly used design in IGNOU MCom projects. It is utilized when the goal is to describe a specific situation, condition or even a performance.
This design can be used for topics such as.
Employee satisfaction
Customers' perception
Evaluation of financial performance
Management of working capital
The impact of training on employees
In descriptive research The researcher is not allowed to manipulate variables. The focus is on studying and describing the existing facts.
Example explanation.
The study is based on a descriptive research design to analyze the present financial position of the selected company by analyzing relevant data.
This design is safe as well as accepted. It's also simple justification in an ignou mcom project.
Analytical research design is used in research that goes beyond description and seeks to understand performances or relationship patterns.
This design can be used when your project includes.
Ratio Analysis
Research on trends
Comparative analysis between companies
Year-to-year financial evaluation
A variety of finance related ignou topics are based on analytical design alongside descriptive design.
Example explanation.
The study adopts an analytical research methodology to analyze the financial performance of a company using ratio analysis and trend analysis.
This shows depth, but without sounding complicated.
Exploratory research designs are used when the topic is unknown or has not been defined clearly. It isn't as prevalent in IGNOU MCom projects but may be used in fields like.
Emerging business practices
Digital payment adoption
New accounting standards awareness
Example explanation.
The study follows an exploratory design of research for understanding the public's awareness of current accounting practices.
Make use of this design only when your subject truly explores something new.
For the best design, ask yourself these questions.
Are I describing an existing situation
Am I analyzing the performance or patterns
Do I am attempting to discover the possibilities of a new concept
If the answer is "description the design should be descriptive.
If it includes numbers or comparison you can add analytical design.
If it involves a deeper understanding of new ideas, choose exploratory design.
For most ignou mcom project submissions detailed and analytical designs will suffice.
Once research design is selected The next step is choosing how data will be collected. The method for collecting data must be compatible with your research idea.
IGNOU permits primary as well as secondary data. What is important is honesty as well as clarity.
Primary data is information gathered on the spot by the investigator for the initial time.
Common primary data tools comprise.
Questionnaire
Interview
Observation
Primarily-sourced data is helpful when your project involves opinions behaviour, perceptions.
Examples of topics that are appropriate when it comes to primary data.
Employee satisfaction
Customer service quality
Investor perception
Training effectiveness
Most students fill out questionnaires but don't make them well-designed. IGNOU does not review the questionnaire with a thoroughness, but it needs to appear legitimate and rational.
Guidelines for questionnaire design.
Simple questions should be asked.
Do not use using technical terminology
Use close ended questions
Questions should be linked to objectives
Example description for methodology section.
Primary data was collected using an organized questionnaire that consisted of open-ended questions, designed according to the purpose to be studied.
Do not assert advanced survey techniques if your did not use them.
Interview method is not widely used but is useful for smaller sample studies. It's useful for case studies and qualitative topics.
Example explanation.
Primary data was gathered via individual interviews with employees to learn their perspectives on the matter.
Employ the interviewing method only if you have had contact with respondents.
Secondary data are data that has been stored by an individual. This is a common practice in the ignou MCOM project work.
Sources of secondary information include.
The annual report Financial statement Books Research journals Company websites Government publications
Finance and accounting topics mainly are dependent on secondary data.
Example explanation.
The study is based upon secondary data collected from company annual reports journal articles, textbooks also official portals.
Secondary data is completely acceptable as long as it is properly referenced.
The majority of students think that primary data has a better appearance. It's not always the case.
Pick the primary data.
Your subject is a source of opinions or behaviour
You are able to speak to participants
Sample size is acceptable
Select secondary data whenever possible.
The topic you choose is finance or accounting based
Information is available through reports
There is a time limit
IGNOU doesn't penalize any projects on the basis of secondary data. It is about proper analysis.
This design describes how the respondents or units were picked.
In ignou mcom project work easy sampling techniques are enough.
Convenience sampling is one of the most common method used by students.
Example explanation.
Convenience sampling was the method used for selecting respondents based on accessibility and availability.
This is realistic and accepted by IGNOU.
Random sampling could be used when respondents were randomly selected.
Example explanation.
Random sampling methods were used to select the respondents from the general population.
Use this only in cases where the selection was truly random.
The size of the sample must be reasonable and doable.
Standard sample sizes for IGNOU projects range between 30 to 100 respondents for surveys.
for financial reports, the size of the sample could be a reference to number of years or even companies.
Example explanation.
The sample size is 50 respondents from a selected group.
Or
The study covers financial data from five consecutive years.
Maintain this consistency with your analysis section.
The term "period of study" defines the length of your study.
When discussing financial topics, you should mention the financial years in detail.
For survey areas, write down the period of gathering data.
Example.
The study period consists of three months of time during which data were gathered and analyzed.
This shows organization and clarity.
Many of the submissions to ignou's MCOM projects fail due to mistakes that are avoidable.
Copying methodology from internet
Utilizing advanced terms without having a clear understanding
Uncertainty between objectives and methodology
Insisting on primary data in the absence of evidence
Avoid these mistakes to improve the quality of your work.
IGNOU evaluators look for.
Acuity
Clarity
Connection to topic
Sincere explanation
They do not expect perfect research. They are looking for genuine effort.
An easy and well-described approach is often better over a copy of a technical procedure.
Be sure to read your objectives prior to writing the methodology. Every goal should be backed by a method.
If the goal is to analyse financial performance, highlight percentages.
If objective is to study employee satisfaction, provide a questionnaire.
This alignment makes a powerful impression.
The selection of the ideal research design and method for data collection does not require complexity. It's about being able to use it. For an ignou MCOM project simple decisions that are explained clearly is the ideal way to go.
Find out the topic you are discussing. Be truthful about the information you provide. Write in your own words. This alone can increase both marks and confidence.
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