18th ICBM scheduled for December 9 and 10

6 November 2021 01:42 am Views - 249

The 18th International Conference on Business Management (ICBM) organised by the Faculty of Management Studies and Commerce (FMSC), University of Sri Jayewardenepura will be held on December 9 and 10 in Colombo. There are at least seven objectives or purposes that can be achieved by a research conference that is of the ICMB nature: (1) to provide a recognised forum to both academics and practitioners for the presentation of their research findings; (2) to make researchers adept in presenting, justifying, and improving their research works; (3) to continue the institutionalized research culture (since 2003) within the FMSC specifically and the University in general; (4) to contribute to the generation of indigenous body of knowledge of Business Management; (5) to contribute to the career development of our academics and enhancement of their economic, social and psychological satisfaction; (6) to make relevant stakeholders understand the criticality of researching; and (7) to enhance the perceived quality of the university as a seat of higher learning. 

The purpose of this short article is to give briefly an introduction to Management Research (MR) and its relevance to Sri Lanka, as requested by the organizing committee of the ICBM. 

MR is a detailed study of a certain aspect of the subject of Management. It involves collecting and analysing facts and information with the purpose of gaining new knowledge or new understanding with regard to what is being researched in Management. It is indeed an intensive activity and it is usually based on the work of other researchers aiming at generating new ideas to pursue and questions to answer. MR is a systematic activity to find answers for specific questions in relation to a particular Management problem that has been specified lucidly. Five reasons to indicate the importance of conducting MR are: to find out the truth that is hidden or which has not yet been discovered in relation to various aspects of Management; to expand the existing body of knowledge of Management; to understand the basic everyday phenomena which need to be handled in managing an organisation; to provide a good basis for right management decision making; to develop a theory or theoretical formulations of Management by using rationalism; and to generate empirical support to a theory of Management by using empiricism. 

 

The purpose of this short article is to give briefly an introduction to Management Research (MR) and its relevance to Sri Lanka, as requested by the organizing committee of the ICBM

Two major types of MR are applied and basic. An applied research (alternatively called action research) focuses on immediate problems (e.g., reducing sales, declining productivity, increasing unethical behaviour of employees including top managers, increasing customer complaints, increasing employee absenteeism, and raising presenteeism) being faced by a particular organisation or organisations. A basic research (alternatively called fundamental or pure research) focuses on an issue, which attempts to fill a gap in theory (e.g., initiate and clarify four specific roles of Greening to be played by every employee in any organization). The purpose of an applied research is to solve a current problem being faced by a particular organization. 

There is another form of applied research. Here is an actual manager who is not facing an immediate problem needing an immediate solution, but he or she needs to enhance or improve a particular Management phenomenon. Similarly, there is another form of basic research that exists. Here is a researcher (usually an academic) who wants to find empirical evidence to a theory of Management. An applied research arises frequently from a business need of the organisation. A basic research arises frequently from an individual need of the researcher. 

MR is a systematic activity to find answers for specific questions in relation to a particular Management problem that has been specified lucidly

A MR can be done in the way that is quantitative, qualitative, or mixed. When the scientific method is applied to do a MR, it becomes a scientific one. Scientific business research becomes a specialized type of investigation, which is characterized by the testing of hypothetical relationships according to Professor Davis and Professor Cosenza (1985). 

Sri Lanka, although it has a great potential is still a developing nation. It was observed that Sri Lanka has entered an era of opportunities and expectations needing aspirations and perspirations. Like almost all the countries in the world, Sri Lanka is an organizational nation. What will happen if the working of these organizations ceases, or is destroyed? Our modern society will become destitute, confused, uncivilised, and even paralysed completely.

Hence, it is indispensable to manage these organizations efficiently and effectively for success, growth, or at least survival. The essence of successful managing is right decision-making and for right decision-making it is essential to have right information. MR has a very important role in providing right information for right decision making. In fact, intuition (decision maker’s ability to understand the problem or something instinctively without using conscious reasoning) and authority (decision maker’s expertise) are also useful, particularly the latter is more useful, for obtaining right and adequate information. MR is capable of providing the decision maker with more dependable, relevant, and useful information. Of course, there is a need that MR is designed and carried out correctly. MR is critical to quality of decision-making. Learning how to do research and present the relevant findings should be a top priority.     

The ICBM aims at achieving the above mentioned seven purposes. 
May the seven purposes be achieved by the ICBM to a higher extent!
(The writer is a Senior Professor and Litterarum Doctor).