Assignment on Management Research Methods

Identify five lessons you would pass on to new MSc management students with regard to undertaking management research

The lessons to be learned by MSc Management students are explained as follows:

• Strategic Planning
• Original Idea
• From concepts to results
• Following Present trends
• Efficient throughput

Strategic Planning:

One would expect that strategic planning comes after identification of the original idea. But, the key lesson for management students is strategic planning of their ways to achieve their goal which may be in terms of a career in management research or in terms of proceeding with their work plan. Planning is a vital criterion that spells the success of any project and with planning rests the responsibility that one should not waste available resources, avoid redundancy and proceed towards clearly defined objectives and present a water-tight study. Management research is experience based, and the key to strategic planning is to base one's course on prior experiences, learning from previous mistakes and looking forward to welcoming new experiences that may offer a wind of change in the area researched.

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Creation of strategic planning could be challenging for various reasons like lack of experience, commitment, energy and time for many organizations and leaders of business. Before implementing the strategic planning, an organization must study the internal and external factors and study the outcomes to the maximum extent possible. Strategic planning is bound to be successful only if the organizations give importance to relevance and realities (Peter J. Rea, Harold Kerzner, 1997). The significance of the vision and mission of the organization along with upholding the values of the customers must be kept in mind while the organization involves itself in strategic planning.

Original Idea:

Critical thinking is the basis of an original idea, and critical thinking comes from planned approach to a subject under research. Innovation is vital for any research to stand the test of time and path-breaking research is always remembered. Out of the box thinking and an open mind to critically review ones own progress is vital instincts of a management research student. Anticipating outcomes, testing new strategies, devising variants based on prior experience and above all working towards an interesting goal is vital lessons that must be learned early. An original idea also demands a skill set that is required for its execution, and hence one must be equipped well with existing concepts and be skilled to analyze and come up with exciting alternatives critically. The concept of the original idea also revolves around the effective utilization of knowledge management which is very vital.

From Concepts to Results:

A management research student must learn to interpret his own data. An original idea will work only if a management researcher can come up with valid interpretations of his results. A strong ground in the concepts is vital to achieving interpretive skills. The field is vast and awaits exploitation by any who has the strength to wield a tool, and hence technical expertise is a must know when it comes to the transition from concepts to results. No matter how vast the research plan or how original the idea or how great the conviction of the student, the essence of the study cannot be captured effectively if the student lacks the insight to apply his concepts to the data he generates.

Following Present Trends:

A management research student should be aware of what developments are occurring in his or her field. A blind descent into the depths of the study will not help as the student might end up losing focus of what is to be achieved by the study in relevance to present day scenario. The advancements in science and technology must be of relevance to a management student as it will help him to analyze the market needs better. A close follows up of the present-day trends will help address current issues better and thereby generate time-relevant research data. Such current research would help progress in the right direction and would encourage innovation, creative thinking and thereby help in bringing out solutions to existing and emerging problems rather than analyzing museums from the past. Outdated research is history and management are current.

Efficient throughput:

The key to efficient throughput is achieving a balance between creativity and productivity. The management research student must learn to appraise the available resources at his or her disposal and work with it in a creative manner such that maximum productivity is achieved. Manpower, Knowledge, Freedom of scope, Research instruments, to contribute to the resources and it is vital to learn as much as possible about their mutual interactions and thereby achieve the highest level of efficiency in terms of throughput or efficiency within a timeframe.

References

Peter J. Rea, Kerzner, H (1997), Strategic Planning: A Practical Guide, John

Wiley & Sons, Canada, 310-3330