Scribd
Upload
26 views18 pages

Group 1 - Problem Definition Power Point Presentation

This document outlines the importance of properly defining a research problem and the process involved. It discusses that a problem definition provides guidance for the research process and clarifies objectives. Key elements of a proper problem definition include a clear problem statement, contextual background, scope, research objectives, and relevance. The document also describes the five steps to defining a problem: describing it generally, understanding its nature, reviewing literature, developing ideas through discussion, and redefining the problem. Areas to consider include defining technical terms and stating assumptions, scope, and available data.

Uploaded by

muasyaliz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
26 views18 pages

Group 1 - Problem Definition Power Point Presentation

This document outlines the importance of properly defining a research problem and the process involved. It discusses that a problem definition provides guidance for the research process and clarifies objectives. Key elements of a proper problem definition include a clear problem statement, contextual background, scope, research objectives, and relevance. The document also describes the five steps to defining a problem: describing it generally, understanding its nature, reviewing literature, developing ideas through discussion, and redefining the problem. Areas to consider include defining technical terms and stating assumptions, scope, and available data.

Uploaded by

muasyaliz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 18

RESEARCH METHODOLOGY

IN FINANCE
COURSE CODE: DFF6113
LECTURER: PROFFESSOR JOSIAH ADUDAH
GROUP 1 MEMBERS
NAME
REGISTRATION NUMBER
1. SAKINA HAMADI ATHUMANI DFA6/44214/2023
2. EDITH MACHARIA
DFA6/45759/2024
3. YVONNE CHIFUNDO MANGOCHI DFA6/43993/2023
4. MIRRIAM MKUTUMULA BILLIAT DFA6/43992/2023
PROBLEM DEFINITION

Table of contents
• Introduction
• Nature of the business problem
• Importance of a proper problem definition
• The process of problem definition
INTRODUCTION
• Problem definition is a critical step that involves clearly stating the issue
or question that the research aims to address. It is the foundation upon
which the entire research process is built.
• The problem definition is crucial because it helps researchers focus their
efforts, identify relevant literature, and design a research methodology that
will effectively address the research question
NATURE OF THE BUSINESS
PROBLEM
• Varies widely depending on the context and objectives of the study.
• A business problem or a research problem is a statement formulated about
an area of concern that the researcher wishes to investigate
• It expresses some difficulty that a researcher experiences either in
theoretical or practical context and wants to obtain a solution for the same.
Components of a research problem
A research problem consists of several components that help define and
contextualize the issue being studied. These components include:
1. Topic 6.
Hypothesis
2. Background 7. Scope
3. Statement of the problem 8. Significance
4. Objectives
5. Research questions
Formulation of the research problem
A research problem is posed as a question which serves as the focus of the researcher’s
investigation. It helps in narrowing down the issue to something reasonable for
conducting a study. Below are the steps involved when formulating a research problem:
1. Identifying a broad area of interest or problem
2. Identify a specific problem within the broad area that will form the basis of
research study
3. Identify key words for the topic
4. Define the topic
Characteristics of a good research
problem
The following are some of the characteristics of a good research problem:
• Significance: It should be worth investigating and should contribute more
understanding to the existing knowledge either in theory or practice.
• Feasible: It should be one that can be investigated within the specified time and
resources.
• Clear and concise: The words used to state the problem should be very clear such
that most people would agree as to what the key words in the question mean.
• Ethical: The question should not harm the society in any way whatsoever.
Conti…….
• Data availability: It must be ensured that the problem can be investigated by
collection and analysis of data.
• Novel: It should be able to introduce a fresh perspective, offering something new
to the existing body of knowledge, contribute original insights and address
unresolved matters or essential knowledge.
• Clear and specific: It should be easily understandable and precisely articulated.
• Rooted in evidence: A good research problem leans on trustworthy evidence and
data, while dismissing unverifiable information.
Types of research problem
Across fields and disciplines, there are different types of research problems.
We can broadly categorize them into three types.
1. Theoretical research problem
2. Applied research problem
3. Action research problem
IMPORTANCE OF A PROPER
PROBLEM DEFINITION
There are several reasons why a proper problem definition is crucial in
research and some of these reasons are discussed are below:
1. It provides guidance for research process
2. Helps in clarifying objectives
3. Helps in facilitating literature review
4. Helps in formulation of research questions and hypothesis
5. Enhances precision or accuracy
Conti…….
6. Gives direction or aids in resource allocation
7. Helps to increase relevance
8. Facilitates communication
9. Helps in reduction of misdirection
10. Helps in supporting evaluation and validation of research outcomes
What entails a proper problem definition?

A proper problem definition is characterized by several key elements that


collectively provide clarity and direction to the research as outlined below:
1. Clear problem statement
2. Contains well articulated contextual background
3. Defines the scope and all limitations
4. Provides clear research objectives and goals
5. Specific research questions
Conti……..
6. Relevance and significance
7. Stakeholders and audience
In summary incorporating these elements into a problem definition,
researchers can create a comprehensive and well-structured foundation for
their study, ensuring that the research is focused, relevant, and capable of
providing meaningful insights.
THE PROCESS OF PROBLEM
DEFINITION
• Defining the Problem involves the task of laying down boundaries within
which a researcher shall study the problem with a predetermined objective
in view.
• The process helps to picture the problem. For optimal results, the process
should incorporate all stakeholders to ensure that all valuable ideas are
included in relation to its size and the possible impact.
Conti…..
Outlined below are the five steps that can be followed in defining the
problem:
1. Describing the problem in general
2. Understanding the nature of the problem
3. Surveying the available literature of the problem
4. Developing ideas through discussions/ generating new ideas
5. Redefining the problem
Areas to note when defining a research
problem
• Technical terms and words should be clearly defined.
• Basic assumptions if any relating to the research problem should be
clearly stated.
• A clear statement of the value of the investigation should be provided.
• The time period and the sources of data available must also be considered.
• The scope of the investigation or the limits within which the problem is to
be studied must be mentioned.
THE END

THANK YOU FOR YOUR ATTENTION

You might also like