Introduction to Research Methodology of IMF
The research method help learner to do the search in an appropriate manner. Through the correct methodology the total quality of the research is improved. As there are various different options available with the researcher to it is important to decide which method is best suitable for conducting the research. With the change in time different methodologies keeps on developing which provide variety of options to the researchers therefore the person conducting the research has wide range of options available with him to choose the best out of all.
The selection of the different methodologies depend so much on the available resources and the nature of research. For conducting research for IMF, the suitable methods are given below in the following report. Through the given options the researcher can understand each option that is available with him to conduct the research. Through this section the decision regarding selection of methodology can be done. This make it one of the most important section in the whole report as choosing the correct method is of vital in nature for completing the research. Different methodologies which are applicable for conducting the research on IMF are given in detail below:
Types Of Investigation
Before selecting the method for conducting the research it is important to first understand the nature of the search. It can be conducted using options given below:
It is broad methodological approach as it incudes various options under it. It provide the researcher with quantitative data which helps the researcher in doing the detail study of the given project. Results are presented in theoretical form and therefore gives the learner full information that is relevant to the the research[ Baylis J, Owens P, Smith S, editors. The globalization of world politics: An introduction to international relations. Oxford University Press; 2017 Jan 16.]. It is one of the most popular form of research for conducting investigation of the given project.
It is a form of investigating in which the researcher gets the results in quantitative form. Its results are presented in graphs, charts, or other mathematical expressions which are helpful in doing the comparisons more easily. It require complete knowledge of the different mathematical tools so that the correct interpretations are done. It is generally considered in the cases where comparative data is required by the researcher.
As in the given research, more of numerical information is required in quantitative method and it is more preferable, and for theoretical information, there is need to conduct qualitative research[ Sanford JE, Weiss MA. The Global Financial Crisis: Increasing IMF Resources and the Role of Congress. Journal of Current Issues in Finance, Business and Economics. 2011 Jan 1;4(1/2):17.]. But under this method, it can not full fill the whole requirements. As in the research the operations of IMF in different countries will also be observed therefore qualitative research method will also be used by the researcher to give the user complete knowledge of the topic.
It emphasis on how the research will be designed as the researcher has various options like making a descriptive, exploratory or experimental research. Descriptive research gives the total data that is available regarding the research topic and gives all the relevant facts of it. Than is the exploratory which gives importance to develop new concept to the research topic and in the end is the experimental research in which the results are presented through doing the scientific and mathematical analysis. These results can be tested later by the user as they are measurable and also the data provided by this research design can be trusted more as it is based on the experimental facts. The given research is conducted for understanding the various facts of IMF and how it resolves financial crisis with obeying international financial laws. Now, it is been seen that for all the above options of research designs will be used as variety of data has to be collected in order to get the complete knowledge.
Perceptions made by the researcher during the preparation of the research can be termed as approach to do the investigation[ Bernstein S. Legitimacy in intergovernmental and non-state global governance. Review of International Political Economy. 2011 Feb 7;18(1):17-51.]. There are different different types of research approaches which can be inductive or deductive and the researcher use each depending upon the nature of the search. In this research project, inductive approach is used in which existing factors are observed. On this observation, certain pattern and designs are created that helps in providing certain existing theory through tentative hypothesis.
This study has qualitative nature which focus on identifying effectiveness of training and development programmes. With the help of inductive approach, current pattern of training and development can be analysed for IFM and also evaluate the impact on sales of the company[ Abiad A, Mishra P, Topalova P. How Does Trade Evolve in the Aftermath of Financial Crises?. IMF Economic Review.
It can be said that this project is based on inductive approach. Apart from this in deductive approach, new theory is generated and proved through creation of hypothesis. Moreover, results are based on observation of existing facts and figures. The researcher is going to make statement of outcomes that are valid and reliable in nature which will help in conducting the research in an effective and efficient manner. Moreover, the outcomes are confirmed through observation of existing facts and plans of IMF.
Inductive approaches on the other hands emphases on observation of available facts and information provided by the countries and its problem related to it accessibility. The current research is based on descriptive design since it emphasis on details analysis of IMF operation and its functionality in their efficiency with implementation proper plan and support to its member and development of the countries. its is done through descriptive design that researchers is able to provide detailed analyse of various aspects related to the filed of finance.
On the basis of that observation point out by the IMF regarding the growth and funding support to its needed countries so that they can make use of that in his businesses also increase the productivity of their operations
Research philosophy is a belief about the way in which data about phenomenon is collected, stored, analysed and used. It is helpful in conducting the research work. It is very important for researcher to select the best suitable philosophy so as to support the study into consideration. This research project is based on two philosophy which is interpretive or positivism philosophy. This report is based on interpretive philosophy in which researcher integrates or studies about the human behaviour.
This approach assume that access to reality is only through social constructions like example, shared meaning and instruments etc. On the other hand, positivism philosophy is suitable for the research work where scientific and mathematical models are adopted for collection and analysis of information. But this study is focused on qualitative evaluation of manner in which sales of the company can be improved through training and development programme and in qualitative research, interpretivism philosophy is used. On the basis of this theory, researcher is able to conduct analysis in an efficient and effective manner and without any disturbance. Therefore it can be said that this philosophy is suitable in qualitative research.
Data Collection Method
In order to do the research data is the prime requirement as without it the research can not be started. The researcher has the option to choose between both primary and secondary data. Primary data is the one which is collected for the first time by the person conducting the research. It require enough time to collect all the relevant data as it is collected directly without any available assistance. Different sources for collecting the primary data are through interview surveys experiments etc. It is a time consuming method and also comparatively more expensive.
Secondary method of collecting data is one in which the data is collected from the already available information like from books journals internet etc. This method is used when there is less time available to conduct the whole research and the results of the data are of nature which do not change with the change in time[ Brassett J, Tsingou E. The politics of legitimate global governance. Review of International Political Economy. 2011 Feb 7;18(1):1-6.]. It is not much expensive method as the information is available very easily.
In the give situation as immense data is require both the methods are used. Apart from this both the methods are used because the latest data is of immense importance in the given situation as IMF keeps on doing the different operations. It is through accumulation of both primary and secondary data and informations that the researchers is able to conduct analysis in an effective manner and generated valid and reliable results from their research process.
Evaluation of the data is of immense importance. If the report is completed in correct form but its interpretation is not done right than the whole project is of no use[ Bejesky R. Currency Cooperation and Sovereign Financial Obligations. Fla. J. Int'l L.. 2012;24:91.]. For analysing the data, researcher can adopt qualitative and quantitative means and techniques that can be adopted according to the situation or project that helps the researcher to outline valid and reliable outcome.
This research take qualitative nature in to consideration which in turn indicates application of qualitative means. In present case the data collected will be analysed through adoption of thematic analysis. The technique emphasizes on creation of themes so as to segregate and analyse the data in an efficient manner.
The segregation of data collected into different themes help in conducting analysis of vast range of information. Therefore it can be say that analysis of relevant information through adoption of thematic analysis is going to generate valid and reliable outcome. In this researcher has decided to adopt qualitative methods for the objective of conducting research into consideration.
These issues focus on accessing relevant information and necessary resources that are helpful in conducting the research in an efficient and effective manner. If there is limited availability of resources or information, then researcher has to face some problems or issues. Moreover, if respondent will deny to provide information then it also create problems for the researcher.
For removing this barriers, researcher should invest sufficient amount of money and time so that he can do research without any interference. In present scenario, researcher has ensured that there should be proper availability of adequate amount of resources and time for achieving the desired result.
Ethical Issues in Conducting Research
In order to conduct research in an effective manner it is importance to keep the ethics of research in balance. These are the set of laws and rules which can be in written or unwritten form. The researcher has to make sure that safety of all the parties that are part of the particular research is maintained.
All the relevant information which can effect the decisions of parties involved in the search should be well communicated and with confidentiality maintained so that no important message is leaked out. As research needs to have only the data which is associated with the topic no personal information should be asked from the person who is answering as this may effect his response. While conducting the search the objective should be maintained so that the quality and continuity of the research is maintained.
The researcher has to make sure that the objective of research is well communicated to all so that no one gets confused and do not deviate from the path. If the research objectives are not clear than it may result into wrong interpretations which may lead to failure of all the efforts taken while conducting the search. It is very important that sources to collect data are selected very carefully as it directly effects the quality of the research prepared. Researcher has to take care that all the sources that are used are authenticated as they are the base for research preparation. It makes the ethics critical in nature[ Baylis J, Owens P, Smith S, editors. The globalization of world politics: An introduction to international relations. Oxford University Press; 2017 Jan 16.].
It is very important that the investigator is capable enough to know what is right for his research and what is not so that the final research is acceptable by the user. More reasons why ethics maintenance is important while conducting the research are it prevents the research from being false and free from fabrications. As the research is a task which involve different individuals it is important that every person who is part of the search are accountable to their results so that if the user wish to recheck the facts given in the report by an individual he can ask the concern person.
Also the members of research should be participating in the research process with their own will. For this all the risk which is involved with the research process should be disclosed to the members so that they do not question later about their safety and health issues[ Sanford JE, Weiss MA. The Global Financial Crisis: Increasing IMF Resources and the Role of Congress. Journal of Current Issues in Finance, Business and Economics. 2011 Jan 1;4(1/2):17.].
Apart from this, it is also necessary that everyone should have trust on each other so that the information can be shared among all with no fear. With trust respect for the members of investigation is also an important issue as it is necessary for maintaining good relation between the different individuals. When the research is completed the general public makes sure that no harm is made to the natural resources, human rights, bio diversity etc.
With this the researcher also has to make sure that his research process is conducted in a manner in which safety of all the individuals is maintained, no violation of law is done and the result will not give rise to any kind of conflict for anyone. Not only the general public but there are different panels also who makes sure that while conducting the research all the ethical practices are being utilised.
This process protect the researcher from legal actions that are taken by the law in case of any unethical practice found during the process of research preparation. Therefore in order to promote importance of ethics in research codes are generated which are adopted by the associations and administrative unit as they get the outline through this about how to conduct a particular research with the given resources and time period[ Rich B. Mortgaging the earth: The World Bank, environmental impoverishment, and the crisis of development. Island Press; 2013 Sep 30.].
Validity and Reliability
Validity means having meaning and soundness of something. For any data to be valid it is important that the provided information is effective and rational. Relatability on the other hand is the quality of the information provided which can be trusted and used as a base for future needs. This makes both an important factor to be maintained while conducting the research. As the investigation is carried out with some motive or reason behind, the researcher has to make sure that all the data provided in the search is valid and can be relied on.
The quality of the data in the report should be maintained so that the user can take maximum advantage and use of it. The outcomes of any investigation depends widely upon the sources through which the facts are taken and if those origins are not valid than the whole research will go in vain and therefore will lead to loss of resources and time. The survey has to be conducted in such a manner that it contains the reliable response by the respondents. For this it is important that the questions that are asked by the researcher are valid and make sense to the person giving the answers[Brassett J, Tsingou E. The politics of legitimate global governance. Review of International Political Economy. 2011 Feb 7;18(1):1-6.].
Therefore the researcher should ensure that both internal and external reliability is maintained so that even if different user use the data provided in the research makes same interpretations to all. In case if mathematical data is also used in the report it is better if certification validity is established as this will give the different user an idea about up to what level the tools used for the calculations can generate the faithful answers. In the given report the facts and souses are selected which are correct and capable of being relied upon therefore the given report can be trusted by the user and can be used for future requirements.
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