The main advantages of using Case study research strategy is that it based on real life living. It can provide a realistic picture through the real living experience. Secondly case study research can lead to the unexpected results, therefore providing a source for new questions to be answered. The complexity and insight in-depth enables Case study strategy illuminate the correlation process in casual relations. Moreover it explains the complexity of inter-relations.
One of main draw-backs of Case Study research strategy is that it is very time consuming for both data collection and analysis. Another limitation is that complex findings very difficult to represent in an easy and understandable way.
(Source: Saunders, 2007, p139-140)
Action Research
Action research strategy is usually used in organization to improve communication and problem solving issues in organisation processes.
Action research is simply a form of self-reflective enquiry undertaken by participants in social situations in order to improve the rationality and justice of their own practices, their understanding of these practices, and the situations in which the practices are carried out (Carr and Kemmis 1986: 162).
Strengths
- People conduct their research form their own living practice and develop their own theories from it.
- Researchers are real people
- Research subject is real situation
Difficulties
- Researcher may experience problems by getting approval from organisation to carry out research.
- The problem which need to be researched can be not recognised by organisation management
- The approval of researcher’s ideas can be used by researcher to get some personal power, rather than genuine interest in research outcome.
(Source:Wilson&Streatfield, Action research and users needs, 1981, http://informationr.net/tdw/publ/papers/action81.html)
Grounded Theory
Grounded theory research strategy is working in the opposite way to the traditional research approach. In traditional way you base your research on one’s theory, while by using Grounded theory strategy you develop a theory from collected data. As much of business and management is about people’s behaviours, for example consumers’ or employees, a grounded theory strategy can be used to explore a wide range of business and management issues (Saunders, 2007:142).
Strengths
- Can get to the deeper meaning of the research
- The results of the research is more likely to be empirically valid(Eisenhardt,1989:547)
- Produce a great amount of information
Weaknesses
- The process can be complex (because of the terminology used).
- The final picture of the process can be not straightforward.
- Time consuming
- Do not lead to any surprising results
(Source: K.Charmaz, Constructing Grounded Theory: A Practical Guide through Qualitative Analysis, 2006)
Ethnography
Ethnographic research can be used to identify and solve complex social problems. In this type of research, the researcher is the primary research tool. He needs closely interact with the group of participants to collect primary data. (Schensul, Essential Ethnographic Methods: Observations, Interviews, and Questionnaires, 1999, p13-14). This research process is not traditional, as a researcher always adapt to a collected data and develop new ideas and thoughts about research subject.
Benefits
Researcher get the most possible in-depth information about phenomena
Because of the good understanding of the researched environment, it is easier to interpret gathered data
Difficulties
Time consuming
Morality and ethical Issues
Find a group that enables you to answer research questions
To get a full access to researched group
To build a high degree of trust with researched group
(Source: Saunders, 2007, p142-143)
Survey
Survey research strategy is very relevant for me as a Management Science student. This strategy is largely used in management and business type of researches. Using survey strategy is appropriate then the large amounts of data need to be collected. Usually data is gathered by using questionnaire administered to sample of population. Data collected in that way is easy to analyse using quantitative technique. (Saunders, 2007, p138-139)
In this research the Survey strategy will be adopted. The main reasons and benefits of using Survey strategy for it are:
- Researcher have control over research process
- Collected data can be more easily standardised
- The process of data observation is less complex
- The results of interpreted data are more easily understandable
However there is some limitations of Survey strategy using questionnaire:
- The limit of questions can be asked in questionnaire
- The respondents can be not truthful, or willing to participate
- The administered questionnaire can get low response rate
Quantitative method
Quantitative research analysis is usually used by natural sciences. Quantitative is predominantly used as a synonym for any data collection technique (such as questionnaire) or data analysis procedures that generates or uses numerical data (Saunders, 2007:145). Quantitative method approach use measurements and observations of collected data. These measurements must be statistically valid. A quantitative approach employs strategies of inquiry such as experiments and surveys and collects data on predetermined instruments that yield statistical data (Creswell, 2002:18). Put it in more simple way: quantitative method is about numerical, objective data.
Qualitative method
Qualitative approach refers to data collection technique or data analysis procedures that generates or use non-numerical data. Qualitative therefore can refer to data other than words, such as pictures and video clips (Saunders, 2007:145). Qualitative research is more complicated than quantitative and it uses many different ways for collecting data. Basically the main difference between these two theories is Quantitative research count gathered data, while Qualitative research cares about object meanings and goes in-depth describe the object.
Mixed Method
In some cases to answer the research questions it is not enough to use just quantitative or qualitative approach. Researcher may need to combine both methods. It can be a case then large amount of data involved, but it need to reflect on the meaning of the objects and describe them.
Data collection, and analytical tools/techniques
To gather a data for Internet Banking research the Survey strategy was adopted. It has been decided to design a relevant questionnaire using theoretical framework. The questionnaires were administered by using interview technique. The places for questionnaire distribution were chosen in the few locations. Firstly it has been decided to administer questionnaires in university, there participants are mostly students. This decision was made on the opinion that young people are more easily adopting technologies and are more likely to be users of Online Banking facilities. The other part of the questionnaires was administered through some relations contacts (friends of friends). Finally the 40 questionnaires were distributed. Because of the interview technique use the response rate was 100 percent. However after analysing 8 meaningless questionnaires was excluded from further analysis.
The questionnaire was designer using a core framework of research. Seven main points was identified from a framework. From this points seven main parts of questionnaire was designed. The questions in each part reflect theory based aspects previously developed in a core framework of the research. Totally 7 parts of questionnaire was approved. First question was used for the screening purpose to identify is the respondent falling in to the category of Internet Banking users. Questions were constructed in the simple way, that respondents could easily understand them. Questions are close-ended and contain multiple possibility answers. Totally 11 questions was chosen for the final version of questionnaire. In parts one and two of questionnaire the scales technique was used the respondents needed to tick their agreement level to the statement. The part two and three of the questionnaire are designed to answer objective one. People were asked their opinion about Internet Banking facilities. Part three of the questionnaire is designed to serve objective two of the research. In that part we find out what services in Online banking use and the frequency of returning to online banking facilities. Finally the last three parts serves objective three. In these parts the scaled multiple answer questions was used. In these questions the issue about draw-backs and problems with Online banking was raised. (See Attachment 3 for questionnaire design)
Analysis, results and conclusions
Stage1
In the part two and three of the questionnaire we was concerned about consumer perception of Internet Banking by analysing those questions we will meet Objective 1 of the research.
First three questions (statement) were the test to find out does the users aware about what benefits Internet Banking hold to them. In first three questions consumers was asked to show their agreement level for the statements: ‘using Online banking facilities makes it easier to execute financial transactions’, ‘Using online banking allow me to save time and money’, ‘I like to manage my finances using Internet’. Those statement tests is consumer consider online banking as a useful approach to manage finances. How the level of participants’ agreement to each statement been calculated shown in the Figures 1 to 3:
Figure-1: Using Online Banking facilities makes it easier to execute financial transactions
Figure 2: Using online banking allow me to save time and money
Figure 3: I like to manage my finances using Internet
Using those calculations we can identify perceived usefulness level for Internet banking. The agreement level for all three statements is illustrated in the figure 4:
Figure 4:
From the graphs above we can say that respondents were very enthusiastic about Internet banking benefits and showed high agreement level to the three positive statements. From answer to statement two we can state that consumers are aware that using Internet banking is less time consuming and less costly. Moreover from answer results to Statement 1, we find out that showed high level of agreement that Internet Banking offers less complex approach, compare to traditional retail banks. Statement 3 is more about consumers’ preferences and perceptions towards Internet Banking against traditional banking systems. Therefore we can comment that consumers perceive Online banking as a useful tool to manage their finances.
Stage 1.2
The next part of answering objective 2 consists of the two questions. The purpose of these questions is to find out consumer opinion on Internet Banking using simplicity. The same type of answers with agreement level scale was used for statements. The gathered data is shown in figures 5,6 and 7.
Figure5:
Figure6:
Figure7: Ease of use, positive agreement level
From the Figure 7 bar chart obvious that two positive statements on what consumers think about Internet banking using simplicity have a strong positive outcome. The questioned sample agreed that Internet banking facilities are understandable and easy to use. However around 30% of respondents answered neutrally. It can be that they have faced some complexity then using Internet Banking.
Stage 2
In this part of questionnaire the question with two information outcomes was employed to meet Objective 2 ‘To identify how important Online banking is in people casual life’. The question table was designed introducing 2 Variables: services and the frequency of using them. From the frequency part we can find out how often consumer using Online banking facilities. From the Service list part of the question we can find out that which Online Banking features are used at most. By combining this two variables we can get a results and indentify what role online banking plays in a people everyday life.
Figure8: Frequency table
Figure 9:Percentage relation between variables table
Figure 10: The relation between services and frequency of their use
The data gathered in figures 8,9 and 10 enable us to do some interpretation.
Firstly the most popular services that consumers are using quite frequently are features of checking balances, and see statements. These two features is obvious leaders compare to other features. Another service which widely used by Internet banking users is Making payments. This service is used by 63% of respondents every month. Apparently this service is less frequent compared to the first two. However we need to take into account that making payment feature involves more complex decision process. Just 30% of participants do not use some features at some point.
From the frequency of the consumers retaining to use Online banking, we can see that more than a half of survey respondents are using Internet banking service more than one time in a month. 40% of the whole sample are retaining at least one time a week.
Therefore we can conclude that consumers of Internet Banking are using almost all features that the system offers. However the features that require to use decision making process and money matters are obviously appearing to be used less frequently.
To meet objective 2 we will state the following points:
- 70 % of consumers using all internet banking features
- More than a half of all Internet banking users are returning to use it services more than one time a month
Stage 3
The stage 3 of research will consist of three parts measuring Reliability, Security, Responsiveness
3.1
In the Reliability section two questions was asked. The respondents were asked about did they have experience any technical problems when using Internet banking.
Figure11: I never experienced any faults with online banking
Figure12: I can always easily connect to online banking services
Figure 13
From the three figures above we can see that positive statements level is significantly higher than a negative level. We can see that number of Internet banking users who had experienced any faults or problems with connection is very low. Therefore the reliability is a positive variable of our research.
3.2
Security issue always remained as a high concerns for Internet Banking users. Using the next 2 questions we will test is it an issue in a recent days. The participants was asked two questions one with the positive outcome, the other one with negative.
Figure14: I consider Internet banking as a secure method to execute financial transactions
Figure 15:
From the pie-chart in figure 15 we can see that 63% of Internet banking users agrees that Internet Banking is a safe method to manage finance. However a 28% of neutral respondents still have some doubts about it.
Figure16:
Figure17:
Actually the Figures 17 and 15 are quite identical. The main purpose of the figure 17 is identify which number of Neutral respondents (from figure15) are falling in to the category that are more linked in to the favour of Internet Banking. From graphs in figures 15 and 17, we can see a phenomena then number of neutral respondents fall from 28% to 13%. While the number of participants in favour of Online Banking increases from 63% to 84%.
This data enables us to make fallowing statements:
- Most of the users are satisfied with a security level in Internet Banking
- Some number of users remain unsure about trust worth of Online banking
Security is not anymore the main draw-back of Internet Banking. However quite large number of Neutral respondents suggests that still there is room for security level improvement.
3.3
The Responsiveness measure serves the service quality research aspect. It is difficult to find out what the service quality is in Internet banking. Respondent was asked to evaluate how the occurred problem was solved.
Figure18:
Figure19:
From the Figure 19 we can see that about half of the respondents were satisfied with the problem solving process. However with figures not necessary reflect a true situation. It is likely that some of the participants didn’t have any problems with Online Banking facilities. But considering just data gathered from the researched sample, we can state that service quality for solving problems are not very good.
To meet the objective 3, the data from stage 3 will be summarised. The researched sample tempted to perceive Internet Banking as a reliable method for managing their financial accounts. Moreover the main issue in the past years – Security, seems to be not playing such a significant role in people decision to use Internet Banking. However the service quality of problems solving process can be improved, to meet the consumer needs.
Conclusion
This research about Online Banking was conducted to answer the following questions:
- What consumers think about Internet banking system?
- For what purpose consumers use Internet Banking?
- What people think about Online Banking service quality?
For developing answers for these questions, a theory based objectives was introduced:
- To test people perceptions and attitudes towards the Internet Banking
- To identify how important Online banking is in people casual life
- To find out factors that attract, or withdraw people from using online banking
To answer question one: ‘What consumers think about Internet Banking system?’, the objective one was tested. The examined objective:’ To test people perceptions and attitudes towards the Internet Banking’ refers to usefulness and ease of use of Internet banking. It have been identified that Consumers perceive Internet banking as an advantage for easy management of their finance. The consumers have a positive perception towards Internet Banking use.
Question two: ’For what purposes consumers use Internet Banking?’, employed objective two to be tested for the right answer. The finding of this test states that Online Banking users use almost all services of the system. But features, such as Making payments and Pay bills are not so frequent as it involve more complex decision process. The Online Banking system plays a significant role in a people real everyday life. It has been find out that around 70% of consumers use Internet Banking services more than once in a month.
Question three: ’ What people think about Online Banking service quality?’ . Objective three was used to answer this question. According to the research findings people seem to be changed their negative perception about security of Online Banking services. Moreover users thinks that Internet Banking as a system provide reliable quality service. However some part of users is not completely satisfied with problem solving process. It can depend on service quality weaknesses or not prompt response to users’ needs and questions.
References
Keynote, Market Assessment 2008, Electronic banking, 4th edition
Saunders, Lewis, Thornhill, Research Methods for Business Students, 4th edition, 2007, Prentice Hall
Z. Liao, T.Cheung, Measuring consumer satisfaction in internet banking: core framework, Communications of ACM, Vol.51, Issue4, Apr 2008
S. Schensul, J. Schensul, M. LeCompte, Essential Ethnographic Methods: Observations, Interviews, and Questionnaires, 1999, Rowman Altamira
K. Charmaz, Constructing Grounded Theory: A Practical Guide Through Qualitative Analysis, 2006, Sage
Wilson&Streatfield, Action research and users needs, 1981, )
J.Creswell, Research Design: Qualitative, Quantitative, and Mixed Method approaches, 2002, Sage
N. Walliman, Your research Project, 2003, Sage
Cross – References
Robson, 2002
Carr and Kemmis, 1986
