There are three basic paradigms: positivist, interpretive and critical. A research paradigm is a set of propositions that explains how the world is perceived. Research methodology can no longer be confined to a set of universally applicable rules, conventions and traditions. A methodology is selection, justification and sequential arranging of activities, procedures and tasks in a research project. Qualitative case-study research has experienced an upsurge in business management fields of inquiry in the recent past.
The study concludes that, in addition to quantitative and qualitative research, mixed research also offers an exciting mode of conducting business research. The essence of this study is to enable professionals with little or no previous experience of the various research methodologies and falling in to the trap that one research is better than the other, gain a basic understanding of qualitative and quantitative research.
The main intention of this paper is not to extend the current and long-lasting debate regarding qualitative versus quantitative research, rather to describe and reflect on the philosophical stance guiding the two research methodologies from ontological, epistemological and methodological perspectives. In the light of looking for possible similarities and differences between the two approaches, the study gives an overview of the historical development of both methods, the paradigms and interpretative frameworks, discusses major advantages and limitations and look at the new trend that combines both quantitative and qualitative data in a single research project in an effort to reconcile both methods. This paper attempts to discuss quantitative and qualitative research methodologies within the broad field of business research.
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