For almost 25 years I have been teaching the course “Research Methods” to Bachelor’s degree students in the business school. From the beginning my approach has been similar to that of a driving instructor: the best way to learn how to drive is … to drive. Supervised, of course. But also, of course, the goal is that the student will eventually be able to make choices unsupervised and independently, as with driving.
The graduation certificate is not unlike a license, certifying its owner’s professional competence and expertise. The competence relates ultimately to the student’s ability to learn. The expertise concerns the student’s specialist knowledge and understanding of their chosen topic. Below is a set of reflections on a process that, in every degree programme, is treated as the climax of the learning process for which the degree is ultimately awarded. The process begins with the selection of a suitable topic, followed by analysis of relevant literature. This leads ultimately to the identification of a research question or issue that will form the basis of the thesis. To succeed, the plan must specify
- the information required to answer the research question or deepen understanding of the issue;
- the location of this information;
- the methods employed to acquire this information; and
- the type of analysis to be used in order to understand it.
Choice, topic selection and direction
The first groups for which I taught Research Methods were expected to complete their Bachelor’s Thesis at a partner university, under a “double degree” arrangement that was the first of its kind in Finland, launched in 1993. The very first group quickly taught me a very important lesson.
From the beginning, my approach was to allow students to identify a topic related to their degree programme (business studies, broadly conceived), and in which they themselves would be interested and therefore motivated to investigate more deeply. This remains my approach today. Some might believe that the Bachelor’s Thesis should be focused on the student’s work experience. As the product of a vocational Bachelor’s degree myself, I remember what it was like to be in a work placement that appeared to make little sense and for which I had no desire to revisit as a thesis topic, let alone as a career choice. For those students enthused by their work experiences, of course they could and should exploit their enthusiasm to the extent possible. However, for those students whose experience was particularly negative, it made no sense to me that they should nevertheless be forced to reflect on it more deeply, when there was an infinite variety of far more appealing research topics available to them under the umbrella of “business”. I will return to this issue later.
When I began teaching this course in August 2000, the popular topics were file sharing and piracy—remember Napster?—and stock options employed as incentives in executive compensation packages and as a partial (or even complete) substitute for wages in start-up enterprises. The latter was a particularly hot topic in Finland around this time (Ilta Sanomat 2000; Huusko 2001). Naturally, business students, particularly those with a strong interest in finance-related topics, were interested. One in particular decided to prepare a research plan based on the use of stock options by Finnish companies. I agreed that this was a good choice and so the work proceeded on this basis. Upon completing the course, the student travelled to the partner university, confident and ready to begin the final phase of the research and thereafter write the thesis. However, the person appointed to supervise finance-related topics at the partner university rejected the topic. I was informed that the reason for this was that the lecturer regarded it as “boring” and essentially done to death.
This outcome was disappointing and even shocking, for me as well as the student. Yet it underlined the importance of helping students to prepare a “bullet-proof” research plan that would survive the personal whims and moods of colleagues less prepared or even willing to encourage students to develop a deeper knowledge and understanding of a fundamentally relevant topic. Stock options were a major topic of debate internationally at this time and years afterwards, with publications like the Financial Times regularly featuring articles and expert opinion pieces discussing the treatment of options in accounts (as an expense, or not at all?), and their impact on companies’ investment plans and executive compensation schemes (Bodie, Kaplan and Merton 2003; Waters 2005; Plender 2006; Plender 2007). To treat the topic as “boring” was narrow-minded and less than professional, in my view.
Having said that, over the years I have learned to recognize similar reactions in myself when a student presents a project proposal that is likely to fail, not because of the irrelevance of the topic, but because the student’s interest is unlikely to match the commitment required to produce a piece of work sufficiently advanced to be a Bachelor’s Thesis. Nevertheless, to refuse students the opportunity to select a topic that is otherwise relevant to their degree because it does not match my own interests or subject expertise would be deeply unprofessional.
As a result of this formative experience, I decided to make sure that future research plans would be evaluated on the basis of the ability of the students themselves to defend them, if necessary. Fortunately, since that time almost all Metropolia business students on international degree programmes conduct their Bachelor’s Thesis under the supervision of Metropolia colleagues, which allows easier cooperation and consultation with colleagues regarding the kind of topics and methodological choices that the students can realistically undertake. Nevertheless, the basic philosophy that has formed the core of my approach has remained the same:
- to allow students to select research topics compatible with a Bachelor’s degree in business, and
- to help students formulate robust, properly designed research plans that would survive even the most sceptical supervisor’s dismissals.
Choice and specialization
In a field of study as wide as business, the possibilities for research topics are almost endless. While some topics are predictably popular because they are newsworthy or much discussed publicly—as with artificial intelligence at the time of writing—there are always students who wish to choose something rather more esoteric or unusual. In such cases it is often a question of judgment for the instructor to give such topics a green light. There are essentially three dimensions to this judgment:
- Relevance to the degree programme
Almost always these are not insurmountable obstacles. With respect to the first criterion, almost any topic can be studied from a business or economic perspective. The currently vogue topic of artificial intelligence, for example, has many business applications that do not require knowledge of software engineering for students to be able to understand and make evaluations of AI applications in various fields of business, including accounting, supply chain management, and human resources management. Concerning the availability of information, I can assist the student by using the abundant resources provided via Metropolia’s library system to determine the quantity and quality of information available regarding the topic chosen. The test here is to identify literature written at a level appropriate for a Bachelor’s Thesis student to be able to employ in the construction of an analytical framework that will enable them to deepen their knowledge and subject expertise.
- Competence of the student
With respect to the second criterion, the competence of the student, this is really for the student to decide. My job is not to discourage or prevent students from doing what they would like to do. Instead, my professional responsibility is to inform the student about what sort of work would be required to succeed in the conduct of research focused on their chosen topic. If it would require advanced statistical analysis, for example, I ask the student if they are ready for that. Similarly, if the literature required to understand the topic is complex and jargon-laden, I ask the student if they comprehend it. Ultimately, it is the student’s decision to select a topic that they regard as of sufficient personal interest to them, and within their competence, subject to the broad limits listed above. My job is to ensure they make an informed choice.
- Availability of information required for the project to succeed
Sometimes it is necessary to recognize obstacles that prevent access to relevant information. Despite the best efforts of our librarians, information is often paywalled or proprietary, meaning that access will cost. Commercial organisations specialize in producing reports for business and public sector clients. These can cost literally thousands of euros. In such circumstances, it is sometimes necessary to accept defeat and adjust the focus of the topic chosen.
Choice and life
The Finnish education system is structured according to a “dual model” that offers complementary and interlinked pathways (Keaney 2024; see also Ministry of Education and Culture 2022). Students graduating from vocational higher education degree programmes are regarded as competent to apply for next-level studies in either pathway. For Metropolia’s business school graduates, higher-level studies in traditional universities are as valid an option as higher-level studies in universities of applied sciences (to Master’s level), as well as directly entering the labour market. For this reason, we are able to accommodate the wishes and career plans of students who wish to continue their studies, as well as those who prefer to go into full time work. The latter may decide later to return to their studies, in which case a rewarding Bachelor’s Thesis experience will continue to be a source of value to them for years to come.
One of the most rewarding aspects of working in education is being able to witness the opening of a world of possibilities to students who begin to realise just what they are capable of achieving, if given the chance. It has been my great privilege to be in a position to help young adults at the beginning of their professional lives map the terrain upon which they hope to build a career and, hopefully, a fulfilling contribution to wider society. Generations of Finnish taxpayers have invested in a wonderful resource that has grown and evolved into a launchpad for students to develop professionally and contribute to the future success of this country. Especially when we are living in a time when people everywhere are demanding the creativity and innovation necessary to maintain economic competitiveness and thereby our very high standard of living, our task as education professionals is to nurture and cultivate the talents and imaginations of students so that they can deliver the hoped-for creativity and innovation, as opposed to merely replicating the past (Martin 2010).
Business academic, consultant and writer Roger L. Martin has written extensively about innovation in the context of design thinking, which is the application and evolution of design principles originating in the world of physical products to service design and ultimately the experience of customers, clients, or users of a product (Martin 2022, 178). This requires willingness to test new ideas and to be prepared to jettison old ones, not only about the products or services themselves, but also about the way in which the method is implemented. This applies as much to education as elsewhere.
Bachelor’s education in business provides a unique opportunity for such experimentation because it provides students with a broad base upon which they can construct their professional interests and ultimately their careers. Business organisations are complex entities. Even sole traders have to address multiple challenges, encompassing financial reporting, product marketing, customer relations and cash flow, among others.
Academics are in a position to guide and help students with respect to both subject-specific expertise and more general advice related to career or study options. We should strive to avoid closing down the options available to students because of our own preferences regarding subject disciplines or the theoretical perspectives and practices within those disciplines. As much as I might want students to find my own subject area as interesting as I do, it is inevitable that there will be students for whom global political economy is far less interesting or urgent than customer experience in fashion retailing, for example. And a very good thing too: because of the multiplicity of subjects chosen by students over the last 25 years, I have been able to learn about a wide range of business topics that have allowed me to recognize more clearly the connections between the various elements that comprise the business curriculum. This has strengthened my ability to employ relevant examples and cases in my own courses that link with other courses’ contents.
For thesis students, it means that the creative process of developing a viable research topic and plan often produces results that surpass their own expectations. They become the experts of the future.
References
Bodie, Z., Kaplan, R. S., and Merton, R. C. 2003. For the last time: stock options are an expense. Harvard Business Review 81 (3): 62-71.
Huusko, M. 2001. Elcoteq-optiot lähes arvottomiksi – Ahtisaareltakin. Ilta Sanomat, 26 January. Accessed 1 December 2024.
Ilta Sanomat 2000. Ahtisaaren optiorahastus Elcoteqilla ällistyttää. 9 September. Accessed 1 December 2024.
Keaney, M. 2024. Vocational higher education—a contradiction in terms or a powerful, transformative instrument? In Mattila, J., Palojärvi, H.-L., and Varsta, R. (Eds.), Näkökulmia liiketalouden AMK-pedagogiikkaan, 24-32. Helsinki: Metropolia Ammattikorkeakoulu.
Martin, R. 2010. Design thinking: achieving insights via the ‘knowledge funnel’. Strategy and Leadership 38 (2): 37-41.
Martin, R. L. 2022. A New Way to Think: Your Guide to Superior Management Effectiveness. Boston, MA: Harvard Business Review Press.
Ministry of Education and Culture 2022. Finnish education system. Accessed 1 December 2024.
Plender, J. 2006. Still the scandals come. Financial Times, 28 May.
Plender, J. 2007. It pays to simplify boardroom compensation. Financial Times, 5 January.
Waters, R. 2005. Puzzles ahead on stock options expenses. Financial Times, 7 April.
Author
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Michael Keaney
Senior Lecturer, Metropolia University of Applied SciencesMichael Keaney is a Senior Lecturer in Metropolia Business School. He teaches various courses related to economics, in addition to Research Methods.
About the author