Research explains unknown facts, applications of theory from which we build knowledge and theory and decides about its application. Management research refers to the act of study of various dimensions of organizational problems and finding out the managerial tools and techniques so that problem can be solved with the use of such ideas. Managerial research studies minutely, objectively and scientifically on the problems and suggestions the management to improve in managerial procedure so as to solve the managerial problems. It is systematic development and acquisition of knowledge and is tailored to specific management needs to answer managerial problem within a time frame. It is a subject of study to understand the structure and function of management and the practice of decision making. In other words, it can be said that research that is conducted to solve the problem which are related to planning, organizing, directing, and controlling is known as management research.
According to Zimkund, “Management research is the systematic and objective process of gathering, recording and analyzing data for aid in making business decisions.”
According to V.P. Michael, “Research in management is a systematic activity directed towards investigating managerial or business problems, which may result in or discovery of management tools for problem solving and decision making.”
From the analysis of above definitions, we can say that management research is such a research that is conducted to identify and analyses the problem and develop managerial tools to take decision for solving managerial problems.
Nature of Management Research
Even though, management research is also the social science research but its problems and issues are different than the issues related to other subjects. Thus, it is different than other research. Those qualities that differentiate management research from other research are given below:
- Transdisciplinary: Management research draws knowledge combining the information of various subjects. It means management research should consider varied nature of information and data large area of subject like; strategy, structure, environment, etc.
- Commercial advantages: Management research is conducted to solve particular problems of individual organization. Thus, management research focuses in commercial advantages of business organization.
- Practical: The followings found from the management research must respond to the issue or problem of the business organizations. Thus, it must be practically applicable.
- Double hurdle: Management research has problem of theory and practice. Knowledge creation is made by academia and research is governed by the world of practice. Thus, there is always hurdle of balancing them.