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Chapter 4
Research Methodology
4.1 Introduction
4.2 Meaning of Research
4.3 Research Design
4.4 Statement of the Problem
4.5 Objectives of the Study
4.6 Universe & Sample of the Study
4.7 Data Collection
4.8 Type of Research
4.9 Scope of the Study
4.10 Significance of Study
4.11 Hypothesis of the Study
4.12 Tools and Techniques
4.13 Limitations of the Study
4.14 Chapter Planning
4.1 Introduction
Research has moved during this century from the periphery to the centre of our social
and economic life. What is the nature of this force? Why it is getting momentum? Most
of us recognize that the progress which has been made in our society has been largely
the result of research. So, research in common parlance refers to the search for
knowledge. Research simply seeks the answer of certain questions which have not been
answered so far and the answers depend upon the human efforts. Research is based
upon observable experience or empirical evidence.
4.2 Meaning of Research
Research is simply the process of arriving as dependable solution to a problem through
the planned and systematic collection, analysis and interpretation of data. The term
research consists of two words:
Research = Re + Search
‘Re’ means again and again and ‘Search’ means to find out something.103
The following is the process of research:
Observes Collection of data
Again and Again Analysis of data
Therefore, research means to observe the phenomenon again and again from different
dimensions. The research is a process of which a person observes the phenomena again
and again and collects the data and on the basis of data he draws some conclusions.
4.3 Research Design
According to Bernard S. Philips, "The research design constitutes the blue print for
the collection, measure and analysis of data."104 The definition highlights that research
design includes the methods of research, viz. Survey, observation, experiment, the
content analysis or their combinations. It also includes the types of data (quantitative
or qualitative) data to be collected, questionnaire or schedule (structures or
unstructured) and also about the size and technique of sampling.
Different authors have defined the research design differently. The most popular book
103
Panneerselvam, R., Research Methodology, Prentice-Hall of India Private Ltd., 6th Printing, 2008.
104
Fred N. Kerlinger, Foundation of Behavioral Research, New York: Holt, Reinhart and Winston, 1973.
on research methodology among the students of social sciences is that of Claire Selitiz
and others. "A research design is the arrangement of the condition for collection and
analysis of data in a manner that aims to combine relevance to research purpose with
economy in procedure."105
Fred N. had opined that, "Research design is the plan (an overall outline from
beginning to the end), structure and strategy (variables, and their operations, objectives,
problems and solutions) of investigation conceived so as to obtain answers to each
question and to control variance."106
4.4 Statement of the Problem:
Insurance has a very important role in this process. Health insurance and pension
systems are fundamental to protecting individuals against the hazards of life and India,
as the second most populous nation in the world, offers huge potential for that type of
cover. Private insurance systems complement social security systems and add value by
matching risk with price. Success of organization is based upon the talent management
in today’s competitive marketplace. Talent management is about the processes, systems
and strategies and their implementation of those unified strategies which are designed
to enhance the productivity of the workplace by developing the improved processes for
attracting, development, utilization and retention of skilled people matches with the
current and upcoming business needs. It is widely accepted that human resources adds
value to the organizations. Therefore, the problem statement for this study would be,
“Developing and Sustaining Intellectual Assets of an Organization through
Talent Management: An Analytical Study of Private Sector
Insurance Companies of Gujarat State”
4.5 Objectives of the Study:
The following objectives have been framed for assessing the development and
sustaining of talented intellectual assets of private sector insurance companies of
Gujarat State.
105
106
Paul E. Green And Donald S. Tull, Research for Marketing Decisions, New Jersy: Prentice Hall, 1970
William J. Goode and Paul K. Hart, Methods in Social Research, New York: Mc graw Hill Book
Company, Inc.1952.
1. To identify the gaps between the talent in place and the talent required to drive
business success in selected Private Sector Insurance Companies.
2. To analyse the most affecting factors of Talent Management in the selected insurance
companies.
3. To check interrelationship among talent management activities performed by
selected private sector insurance companies.
4. To identify the activities of talent management performed by private insurance
companies to enhance the performance of their employees
5. To check the impact of talent management activities among various Designation of
Private Sector Insurance Companies
6. To suggest sound talent management model for sustaining talented people of an
organization.
4.6 Universe & Sample of the Study:
All Employees of Private Sector Insurance companies of Gujarat State formed a
Universe of the present study. Out of the universe the researcher has sent questionnaires
to employees of private sectors insurance companies of selected districts and received
responses from 405 employees, responses of 381 Employees found appropriate and
considered for the purpose of analysis who are working in different companies at
various level. Here, stratified random sampling method is used for collecting data from
seven major cities or districts (Strata) of Gujarat. As population is not known the