Sample: Implementation Of International Business Strategy,Research Approach
3.1 Research Approach
The knowledge of the researcher about the problem specification forms the basis of any research or investigation. A research design provides an outline to the approach to be followed for collecting the data. It helps in describing the conditions under which the data is to be collected, how to select the respondents to the surveys, instruments to be used and also provides information related with who, what, when, and how of the study. A research project may take an exploratory, explanatory, descriptive or predictive approach. In an area where there is limited knowledge is available it is best to follow the exploratory approach of research. It acts as the research at initial level that helps in analysis of data and exploration of the possibility for obtaining as many relationships as possible between various variables without knowing their end-applications. A basis of general findings is provided by exploratory approach which is conducted without considering any specific end-objectives. On the other hand descriptive research acts as an extension of exploratory research where the exact profile of respondents, events and situations can be portrayed. It is also termed as case study approach where a specific situation is studied for giving rise to general theories or identifies the application of some existing theories in some specific situation.
In the present research a combination of these two descriptive and explorative approaches have been followed. We already know about the theoretical aspect of global business strategy and how it is different from domestic strategy. Under the present research we aim at identifying the practical implementation of these well known theoretical aspects and actual difficulties faced by multinational companies in setting up business operations in India. Thus we will follow a combination approach to collect the data and analysis it achieve research objectives. Here the basic idea was to apply theoretical knowledge to find the various considerations necessary for being successful and stable in Indian business markets.
Furthermore an inductive approach is followed for testing as it will assist in an effective analysis of qualitative data collected from the three targeted companies under survey. As inductive approach has the potential of constructing a methodology which is flexible in nature, it permits the various alternative explanations of the exact happenings in the real world situations.
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