Research is defined as “the creation of new knowledge and/or the use of existing knowledge in a new and creative way so as to generate new concepts, methodologies and understandings. This could include synthesis and analysis of previous research to the extent that it leads to new and creative outcomes.” Therefore, research is used to further develop the aspects or nuances of a particular area or subject by using the information already available. It is a very important tool because it can continually refine any topic or theory relating to a subject. There are various components of a research paper such as title, abstract, literature review, research methodology, data analysis, research problem, research questions, research objectives, research statement and conclusion.
However, a research problem is the basis of a research paper. It is a difficulty, gap, problem or shortcoming which needs to be addressed in the area of research that the Researcher wishes to undertake. Only when a research problem is identified the Researcher can analyze the issues in that particular area and provide the solutions to the problem identified. Framing an articulate and precise research problem is crucial to writing a quality research paper because the success, appropriateness and novelty of a research paper are dependent upon its research problem.
The formulation of a research problem may be understood in a better way by understanding the following example. If a researcher wants to critically evaluate the statutory provisions concerning the Independent Directors in India, then the research problem would be stated as follows:
“Despite the efforts of the Regulators in India to achieve good Corporate Governance through the introduction and constant evolution of the concept of Independent Directors, corporate scams such as PNB and IL&FS hint at critical evaluation of the role and the legal framework with respect to the Independent Directors. From these instances, it can be seen that the provisions of law relating to the Independent Directors have proven to be insufficiently effective. Especially in the times of COVID-19, when businesses and financial markets have been reeling under economic pressures, the contribution of the Independent Directors to achieve good Corporate Governance has become more crucial than ever.”