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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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There are mainly 4 methods by which we can collect data through the Survey Method

  1. Telephonic Interview
  2. Personal Interview
  3. Mail Interview
  4. Electronic Interview
  1. Telephonic Interview

    Telephone Interviewing stands out as the best method for gathering quickly needed information. Responses are collected from the respondents by the researcher on telephone.

    Advantages of Telephonic Interview

    1. It is very fast method of data collection.
    2. It has the advantage over “Mail Questionnaire” of permitting the interviewer to talk to one or more persons and to clarifying his questions if they are not understood.
    3. Response rate of telephone interviewing seems to be a little better than mail questionnaires
    4. The quality of information is better
    5. It is less costly method and there are less administration problems

    Disadvantages of Telephonic Interview

    1. They cant handle interview which need props
    2. It cant handle unstructured interview
    3. It cant be used for those questions which requires long descriptive answers
    4. Respondents cannot be observed
    5. People are reluctant to disclose personal information on telephone
    6. People who don’t have telephone facility cannot be approached
  2. Personal Interviewing

    It is the most versatile of the all methods. They are used when props are required along with the verbal response non-verbal responses can also be observed.

    Advantages of Personal Interview

    1. The person interviewed can ask more questions and can supplement the interview with personal observation.
    2. They are more flexible. Order of questions can be changed
    3. Knowledge of past and future is possible.
    4. In-depth research is possible.
    5. Verification of data from other sources is possible.
    6. The information obtained is very reliable and dependable and helps in establishing cause and effect relationship very early.

    Disadvantages of Personal Interview

    1. It requires much more technical and administrative planning and supervision
    2. It is more expensive
    3. It is time consuming
    4. The accuracy of data is influenced by the interviewer
    5. A number of call banks may be required
    6. Some people are not approachable
  3. Mail Survey

    Questionnaires are send to the respondents, they fill it up and send it back.

    Advantages of Mail Survey

    1. It can reach all types of people.
    2. Response rate can be improved by offering certain incentives.

    Disadvantages of Mail Survey

    1. It can not be used for unstructured study.
    2. It is costly.
    3. It requires established mailing list.
    4. It is time consuming.
    5. There is problem in case of complex questions.
  4. Electronic Interview

    Electronic interviewing is a process of recognizing and noting people, objects, occurances rather than asking for information. For example-When you go to store, you notice which product people like to use. The Universal Product Code (UPC) is also a method of observing what people are buying.

    Advantages of Electronic Interview

    1. There is no relying on willingness or ability of respondent.
    2. The data is more accurate and objective.

    Disadvantages of Electronic Interview

    1. Attitudes can not be observed.
    2. Those events which are of long duration can not be observed.
    3. There is observer bias. It is not purely objective.
    4. If the respondents know that they are being observed, their response can be biased.
    5. It is a costly method.

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