There is a very large literature on this topic, under the heading of Mixed Methods Research. I suggest you read one of the several textbooks in that field, such as the one by Creswell and Plano-Clark.
Anirban - as David suggests this topic is usually discussed in most guide to research texts - and especially under mixed methods. They are very complementary, but traditional discipline 'paradigm tensions' often get in the way of viewing them this way.
The attached chapter may assist. It's principles are generic despite the discipline.
Keep in mind, too, that some people push back against the quantitative vs. qualitative binary and the general assumptions that go along with it. Scholars traditionally associate deductive reasoning and more objective analysis with quantitative research, and inductive, interpretive analysis with qualitative research, but it doesn't have to be viewed this way. David Byrne (2002), for instance, argues that quantitative data can also be interpreted and not just analyzed. Other complexity scholars have suggested that a more appropriate binary is product- vs. process-oriented research--the latter focusing more on developmental trajectories over time with the goal of understanding the process of development. So, to answer your question, yes quantitative vs. qualitative methods can indeed complement each other, but they can also be unnecessarily polarizing.
Dear Dean Whitehead Béatrice Marianne Ewalds-Kvist Béatrice Marianne Ewalds-Kvist David L Morgan
As there are multiple degrees of the Mix(ture) made in a mix-methods study, is not it really difficult for a novice graduate researcher ( especially a PhD researcher in business domains) to find the right "RECIPE" for his/her contribution into the body of knowledge?
It is absolutely right that both methods (CAN) compliment each other in producing novel outcomes of a research project, however when we generally support mix-methods research, without talking about the issues associated with the level of integration of both, it might develop over-simplification of the concept for an academic research newcomer.
You first start with qualitative research followed by quantification of the various reactions. This enables you to calculate binding constants and kinetics of biological reactions for example in any given system.