Research is a process of identifying the status of a phenomenon through deploying various methods in a systematic manner.

Research is a systematic process of identifying the problems, defining the problems, identifying the variables/ indicators to address these problems, collecting, compiling, processing and analyzing data to assess the inherent characteristics of the phenomenon under study and to identify the objective basis for arriving at a correct/reliable decision.

Methodology is a combination of methods
• Methods are individually applicable.

By variable we mean the characteristics which can be measured and numerically expressed and the magnitude of which varies from individuals to individuals, item to item.Profit, sales, age + continuous; family member – discontinuous (discrete)

The characteristic which cannot be expressed numerically but indicates a difference in the quality of the phenomenon is known as an attribute.
For example, Efficiency (Efficient/inefficient), Skill (skilled/unskilled).

Indicator – The parameter, information/data on which cannot be collected directly but can be estimated based on the data or information collected on other variables and attributes.

Operational definition means assigning measurable criteria to the variables/ indicators used in the research study. For example- A person is considered as literate if s/he can write a letter in any language is known as the operational definition of literacy.

Objectives of Research:

1. To gain familiarity with the presents status of the business.
2. To measure the frequency of occurrences of various parameters/indicators.
3. To reveal the trend and tendencies in the business, i.e., to assess the growth or expansion potential of the business.
4. To identify the influencing factor or determinants of business parameters.
5. To test the significance and validity and reliability of the results.