“Creative management, whether in public administration or private industry, depends on method of inquiry that maintains objectivity, clarity, accuracy and consistency” Discuss this statement and examine the significance of research.
All progress is born of inquiry. Doubt is often better than overconfidence, for it leads to inquiry and inquiry leads to invention is a famous fact, some maxim in context of which the significance of research can be understood. Increased amounts of research make progress possible. “Research inculcates scientific and inductive thinking and it promotes the development of logical habits of thinking and organisation.”
The role of research in several fields of applied economics, whether related to business or to the economy as a whole, has greatly increased is modern times. The increasingly complex nature of business and government has focused attention on the use of research in solving operation problems. Research as an aid to economic policy, has ginned added importance, both for government and business. Research provides the basis for nearly all government policies in our economic system.
Through research we can devise alternative policies and can as well examine the consequences of each of these alternatives. Decision-making may not be a part of research, but research certainly facilitates the decisions of the policy maker. Government has also to chalk out programmes for dealing with all facets of the country’s existence and most of these will be related directly or indirectly to economic conditions.
The plight of cultivators, the problems of big and small business and industry, working conditions trade union activities, the problems of distribution, even the size and nature of defence services are matters requiring research.
Thus, research is considered necessary with regard to the allocation of nation’s resources. Another area in govt., where research is necessary, is collecting information on the economic and social structure of the nation. Such information indicates what is happening in the economy and what changes are taking place. Collecting such statistical information is by no means a routine task, but it involves a variety of research problems. These days nearly all governments maintain large staff of research technicians of experts to carry on this work.
Research has its special significances in solving various operational & planning problems of business and industry. Operation research & market research along with motivational research are considered crucial and their result assists in more than one way, in making business decisions.
Operation research refers to the application of mathematical, logical and analytical techniques to the solution of business problems of cost minimisation or of profit maximization or what can be termed as optimisation problems. All these are of great help to people in business and industry who are responsible for taking business. Business budgeting, which ultimately result in a projected profit and loss account is based on sales estimates which in turn depends on business research.
Research is equally important for social scientists is studying social relationships and in seeking answers to various social problems. Research in social science is concerned both with knowledge for its own sake and with knowledge for what it can contribute to practical concerns.
In addition to what has been stated above, the significance of research can also be understood keeping in view the following points:
(a) To those students who are to write a Master’s of Ph.D. thesis, research may mean careerism or a way to attain high position in the social structure;
(b) To professionals in Research methodology, research may mean a source may mean a source of livelihood;
(c) To philosophers and thinkers, research may mean the outlet for new ideas and insights;
(d) To literary men and women, research may mean the development of new styles and creative work;
(e) To analysts and intellectuals, research may mean the generalizations of new theories.