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Deciding on the most appropriate research design and method for data collection is one of the most confusing aspects that students must consider when working on their IGNOU project. Many students begin writing their ignou project without being able to clearly define what research they're actually conducting. Thus, the methodology section can appear lacking, copied, or is disconnected from the theme.
This article will focus on the steps to select an appropriate research strategy and data collection method when working on IGNOU MCom projects. It explains concepts in an easy terminology and ties them with concrete examples so that students can apply them easily.
Research design acts like an outline of your research. It outlines the direction of your research project. If the research design is not correct, everything that involves data collection, analysis and conclusion is questioned.
IGNOU is not looking for complex or highly technical research plans. They expect alignment. The design should align with your objectives, topic, and access to data.
Many students lose marks not due to the topic being bad in the first place, but due to their design isn't compatible with the objectives they've written.
The research design will explain the type of study you are conducting. It provides answers to three key questions.
What is being studied
to determine why it's being researched
How it is being researched
In ignou's MCOM project work research design generally falls in one or more of these categories.
Descriptive research design is the most commonly employed design in IGNOU MCom projects. It is utilized when the purpose is provide a description of a situation, state, or a particular performance.
This design is ideal for topics like.
Satisfaction of employees
Personal perceptions of customers
Performance analysis
Working capital management
The impact of training on employees
In descriptive research it is not possible to alter variables. The focus is solely on noting and describing existing facts.
Example explanation.
The study follows the pattern of a descriptive research study that analyzes the current financial position of the selected business using relevant data.
This design is safe that is accepted, dependable, and simple use in a mcom project.
Analytical research designs are used to study situations that go beyond description to try to determine connections or trends in performance.
This design is suitable if your project involves.
Analysis of ratios
Analyse of trend
Comparative study between companies
Financial year-to-year evaluation
Many finance related ignou MCOM project topics use analytical design along with descriptive designs.
Example explanation.
The study uses an analytical research design to examine the financial performance of a company with the help of ratios and trend analysis.
This shows depth without sounding complicated.
Exploratory research methods are employed when the topic is unclear or undefined. It's less frequently used within IGNOU MCom projects but may be employed in fields such as.
Emerging business practices
Digital payment adoption
New accounting standards awareness
Example explanation.
The study employs the design of an exploratory study to study the employee's perception of new accounting practices.
Use this style only when you are exploring something new.
To select the right design take a look at these issues.
Do I want to present an existing situation
Am I analyzing developments or performance
Do I want to explore some new ideas
If your answer is descriptive then go for descriptive design.
If it involves numbers and comparison, add analytical design.
If it is about understanding new ideas, choose exploratory design.
For the vast majority of ignou mcom project submissions with descriptive and analytical designs will suffice.
If you've chosen a research methodology After deciding on the research design, the next task is deciding how data will be taken. The data collection method must fit the research plan.
IGNOU MCOM Project Guide accepts primary and secondary data. What is important is honesty, and transparency.
Primary data is data collected in the direct presence of the research scientist for the very first time.
The most commonly used data tools are.
Questionnaire
Interview
Observation
Primary data can be helpful for projects that require opinions, perceptions, or behavior.
Some examples of topics that would be suitable for data that is primary.
Employee satisfaction
Customer service quality
Investor perception
Training effectiveness
Most students fill out questionnaires but do not design them correctly. IGNOU does not review the questionnaire to its fullest extent, however it should be relevant and logical.
Guidelines for questionnaire design.
Answers should be straightforward
Beware of excessive technical vocabulary
Use short-ended questions
Incorporate questions into objectives
Example description for methodology section.
Primary data was obtained using a structured questionnaire made up of closely-ended, standardized questions designed in accordance to the purpose used in this research.
Do not make claims for advanced survey techniques if you did not apply them.
Interview methods are less popular but can be helpful for small-sample studies. It's useful for case research and qualitative topics.
Example explanation.
Primary data was gathered via personal interviews with employees to understand their views regarding the topic.
Utilize the interview technique only if you actually interacted with respondents.
Secondary data are data that has been taken from another source. It is extensively used in projects like ignou's mcom.
Secondary data sources include.
Annual reports Financial statements Books Research journals Company websites Government publications
Finance and accounting subjects typically are dependent on secondary data.
Example explanation.
The study is based on secondary data taken from companies' annual reports publications, textbooks and journals in addition to official website.
Secondary information is acceptable when properly referenced.
Students are often of the opinion that data from primary sources appears more attractive. It's not always the case.
Select the primary data source when.
Your topic is about opinions or conduct
You have access to people
Size of the sample is easily manageable
Select secondary data whenever possible.
Your topic is either financial or accounting-related.
It is possible to access data in reports
But time is limited
IGNOU has no intention of penalizing any project based on secondary data. What is important is proper analysis.
The design of sampling describes how respondents or units were picked.
In the ignou MCOM project work it is simple to use sampling methods sufficient.
Convenience sampling is one of the most widely used method among students.
Example explanation.
A convenience sampling approach was implemented to select respondents according to availability and accessibility.
This is a factual and valid assumption that has been accepted by IGNOU.
Random sampling may be mentioned in the case of random selection of respondents.
Example explanation.
Random sampling was the method employed to make respondents available from the overall population.
Only apply this method if your selection was really random.
The sample size must be reasonable and easily manageable.
The common sample sizes used in IGNOU projects range between 30 and 100 respondents in surveys.
In financial research, sample size can be used to refer the number years or companies.
Example explanation.
The sample size is 50 respondents from a selected company.
Or
The study includes financial information from five consecutive years.
You should keep this in line with your analysis section.
The duration of your study determines the period of time you will conduct your research.
For topics related to finance, be sure to state the years of financial data clearly.
For survey topics, provide the time of the collection of data.
Example.
The study spans three months during which data were gathered and analyzed.
This is a sign of planning and clarity.
Many of the ignou mcom submissions suffer from mistakes that could be avoided.
Copying methodology from the internet
Using advanced terms without understanding
The objectives are not compatible and methodology
Representing primary data without evidence
Beware of these mistakes and improve your project quality.
IGNOU appraisers will look for.
Acuity
The flow of logic
Application to the subject
Honest explanation
They don't expect flawless research. They expect honest effort.
Simple and well-explained technique usually scores higher than a copied technical one.
Always study your goals prior making your writing strategy. Every objective should be supported by a process.
If the purpose is to examine the financial performance of an organization, be sure to mention ratios.
If objective involves analyzing employee satisfaction, mention questionnaire.
This alignment gives a strong impression.
The choice of the best research design and method for data collection should not concern complexity. It's about adaptability. When it comes to an ignou-mcom project, simple choices explained clearly will work the best.
Be aware of the subject. Be honest about your data. Write your thoughts in your own words. It can boost both scores and confidence.
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