Business Research Essay Example | Topics and Well Written Essays - 2000 words

Business explore - Essay ExampleTo quote Henry R. Luce, Business more than well-nigh(prenominal) other occupation is a continual dealing with the future it is continual calculation, an instinctive exercise in foresight. This extract alone tells us the immensity of Business Research the process of obtaining information.This paper, in its first part, leave alone discuss the purpose and importance of task research in detail. It bequeath also put bring down on how it is conducted and its strength and weaknesses. The second part of my paper will examine and analyze my own business research proposal.With globalization taking its toll in its truest sense, the business world has become more hawkish than ever. New businesses argon formed, the market keeps growing and changing, competition keeps increasing. In order to remain informed, it is absolutely inhering for businesses today to carry out research about the market, about businesses and about anything that helps them to make inf ormed decisions. Research is not only for scholars, but it is for anybody, any business that wishes to update its companionship base.In the past, there was no much(prenominal) (or maybe just a vague) concept of information. Firms used to sit in their seats and guess which decisions will be successful and which will fail. Today, fortunately or unfortunately, guess work will not institute most businesses far. It is important to train information before making the right decision. This is the most important saying of business research it facilitates in smart decision making.... If, for instance, a firm has some kind of knowledge about some new, relevant technology being developed in the market, and none of the other competing firms have this (because they dont carry out market research), this firm will be at a much relegate position in its market only because it carried out business research and thus was informed.Finally, some importance should be given to another, related and spa wned off advantage it helps in problem-solving. Business Research is a vast tool used for solving any business problem. It makes it easier to see all sides of a problem and gives firms a 360 degree, comprehensive view of the problem at hand.How Business Research is ConductedThere are many dissimilar ways that a business can conduct research. There is primordial research, which means re inquisitory a examination yourself by going out in the field and then there is secondary research, which means searching using second-hand or desk information. Different groups and sources have different names for methods. Essentially, they are all the same. The following primary methods are useful for our purpose Appreciative Inquiry, Case Study Design, Focus Groups, Interview Designs, Questionnaire, Observations and Surveys. Some of these are qualitative, for example, interviews while some are quantitative.Additionally, business research is conducted as a process. There are many different stages in the process of business research. It starts off with formulating a research question, that is, the focus of the research moldiness be specified here. Then there is the hypothesis that gives your predictions and analysis of the answer to you research question. To test this hypothesis, some kind of a method (discussed earlier)