The peculiarity between quantitative and qualitative methods are the basis for the growth of research strategies, philosophies, strategies and data collection techniques applied. Bryman and Bell (2007) assert that the distinction aids in developing of an umbrella consisting of various business research practices and issues. The main subject of peculiarity stands in the disposition of numeric or non-numeric data or information that has to be collected and analyzed. The primary differences between quantitative and qualitative research approaches come in the various perspectives. The questions that are asked in the two approaches differ. Other issues that differ in these two research approaches include the forms of data that are produced, the analytical research objectives that are formulated in each, and the extent of flexibility that are integrated in the study design.
One of the key and notable differences between qualitative and quantitative research methods is the flexibility of the two. In general, quantitative data method is regarded to be more flexible. The questions and the designs of the different questionnaires that are asked are all the same. Respondents are asked the same questions in eth same order. This makes this method inflexible. The advantage that comes with aspect of inflexibility is the fact that it enables comparisons to be undertaken between the different sets of data.
Quantitative
This is applied when the research philosophies, methodologies and methods entail getting numeric data or stresses on the quantification (Saunders, Lewis and Thornhill, 2007). In addition, Bryman and Bell (2007) state that it relates itself with a deductive approach and a positivist epistemological course.
Qualitative
This is engaged if the research philosophies, methodologies, and methods entail getting non-numerical data or stresses on the disposition of quality of data that has been collected (Saunders, Lewis and Thornhill, 2007). In addition, Bryman and Bell (2007) state that it relates with inductive approach and an interpretivist epistemological course.
In addition, although quantitative approach is related with practices, a qualitative approach is related with the postulation (Baker, & Foy, 2008). The peculiarity amid qualitative and quantitative research is asserted by Murphy et al (1998), p. 72 that “the former investigates the naturally occurring settings, while the latter is restricted to phenomena that are artificially created by the researcher”. Stressing on the significance of choosing the suitable approach, the approach that most relates itself with the research questions. In addition, Saunders, Lewis and Thornhill (2007) state that the researcher should question his subconscious or make use of his mind for the same and take the process of research to be one with high creativity.
In view of this qualitative research relates itself with the detailed status and aids to examine many issues, which could not have been identified by the quantitative approach. It has helped to get the situations that could not be identified in numerical data.
Hypothetical research approaches
The statement of the problem that this paper will focus on is that of falling number of credit unions based in the United States. There has been a precedent decrease in credit unions which are based in the United States.
Another research approach that could be adopted is survey. This approach is used when seeking representative views. The choice to use this research strategy is because there are many diverse people living in the United State and has various divergent views on the use of credit unions in the United States. It was necessary to get the views that different people working in diverse backgrounds. With this approach, it will be simple to get the views from a specific population and make representative judgments. This is an area which is changing and shaping the way this is done.
The third research approach would be that of field research approach. With this, the researcher would go to the field and see what the issue is and get first hand information. With this research approach, the researcher would want to learn from the credit unions why this is taking place. With this approach, the information would come from the credit union managers themselves.
Comparison of the three approaches
The three approaches which are used in the study have different strengths and weaknesses. Survey approach is an approach would enable the researcher to look at a specific industry and find the facts that he is looking for in the research. This would enable the research to have specific data from the research. The research would, for example, focus on one credit union and have an interview with one reliable and resourceful staff member and ask questions regarding this aspect. This way, the researcher would gather information that are specific and then use this information to make general assumptions regarding credit unions. One disadvantage with this approach is that the choice of the credit unions which a survey could be carried on could not have specific information. The choice of the credit unions could not be that representative of the credit unions in United States.
The field study approach is effective because many credit unions could be approached for the same information. This would give the researcher a chance to have facts that would help in finding information about the rest of the credit unions. When the researcher goes to the field to look for information regarding credit unions, they have a chance to get information that fits the research that he is undertaking. One disadvantage with this approach is that it lacks in finding exhaustive information regarding the overall credit union trends. The information could not be accurate because of the choice of the credit unions.
The case study approach would give specific results. This approach would focus on credit unions alone and get the results. The disadvantage of this would be that the research results would be based and in one area alone.
References
Bryman, A., & Bell, E. (2007). Business research methods. Oxford: Oxford University Press.
Kumar, R. (2005). Research Methodology-A Step-by-Step Guide for Beginners, 2nd ed. Singapore: Pearson Education.
