Originally introduced as a solicitation for funding, concept note has now morphed into a memo to be submitted for approval before undertaking research in business. The role of concept note has two dimensions. Research organizations call for a concept note as a preliminary document to be appraised before considering a detailed research proposal. Business management however, requires a concept note to consider granting approval to undertake business research straight away. In this blog post, I am concerned with the latter process.
A concept note is defined as “a brief outline of a proposed research matter, submitted to management for their approval”. It is an un-biased, objective note, clearly laying out the canvass of the subject matter in concise and logical manner such that the management is able to make up their mind without calling for further elaboration and explanation. Every concept note is prepared in a unique manner appropriate to the matter examined within, thereby leading the reader to understand the gist of the argument presented and the germane gravamen assembled within it. As regards to length, concept note ranges 3 to 6 pages excluding cover pages and/or annexures. Preparing concept note definitely requires high degree of conceptual thinking and mastery of skills in presentation. Creativity and logic must be put on even keel when making a concept note. Here are the contents that are included in a typical concept note:
1. Title: Give a suitable title that is self-explanatory. Later on, the rubric can be amended in light of the findings
2. Problem Statement: A brief explanation of the problem/issue/question must be given touching on the current situation and how it impedes the progress of the business
3. Background: In this section, you must focus on matters such as what is currently practised in terms of solution, whether it is successful within the business or outside. List any drawbacks or blowbacks that have occurred implementing the current solution and underline the need for fresh inquiry
4. Purpose: Reinforce the need for fresh inquiry by stating what to find, how to find, what to do with the findings, how finally the findings can help business grow. Preferably you must write about general objective of the research and thereafter taper it into specific aims and goals
5. Research Method: Choosing a method that is a suitable for the study of a problem remains the most daunting task. Nevertheless, it is necessary to beam light on this matter before undertaking research. Though, there are several limbs in research methodology, two of these namely models and approaches must be broached in a concept note. You can choose either quantitative or qualitative model or a mixture of both. Likewise, you can select deductive or inductive approach or a blend of both
6. Research Design: Collection and analysis of data is covered in this segment. Any existing data base in a business along with available historical and statistical data in the public domain could form the primary data collection. Secondary data from un-published research or information gleaned from industry sources could add more meat to your study. Moreover, the type of data collection methods such as questionnaire, interview or survey has a bearing on your research. Once the data is collected and collated it must be subjected to impartial scrutiny and analysis
7. Output: How to present your findings to the management is dealt with, in this section. The report format, highlights of findings, generalizations, comments & opinions along with interpretations are included; summary recommendations are pinpointed
8. Researcher Profile: Names and qualifications of researcher or researchers in the case of a ream work are mentioned together with experience and exposure of each resource person. Courtesy dictates that the chief of party be named and celebrated
9. Time Span: Duration of the research in weeks or months must be written
10. Funds & Logistics: Break-down of cost with a cash out-lay statement is prepared and related summary brought in the body and details given as annexure. The type of physical resources required and duration must be given in a logistics statement.
Muthu Ashraff
Business Adviser
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