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Bussiness Research Free essay! Download now

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Bussiness Research

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Downloads to date: N/A | Words: 4610 | Submitted: 29-Jan-2012
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Bussiness Research essay previewBussiness Research essay previewBussiness Research essay preview

Description

The process of gathering information for the purpose of initiating, modifying or terminating a particular investment or group of investments

Preview

RESEARCH:
The process of gathering information for the purpose of initiating, modifying or terminating a particular investment or group of investments.
The definition of research includes any gathering of data, information and facts for the advancement of knowledge.
An organized, systematic, critical, scientific inquiry or investigation into a specific problem undertaken with the objective of finding answer or solution.
BUSINESS RESEARCH:
Business research is a systematic and organized effort to investigate a specific problem encountered in the work setting that needs a solution.
The research provides the needed information that guides managers to make informed decisions to successfully deal with problems.
Business research is an important management activity that helps companies determine which products will be most profitable for companies to produce.
Several steps are necessary when conducting business research; each step must be thoroughly reviewed to ensure that the best decision is made for the company.
It is a process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize business performance.
SCOPE OF BUSINESS RESEARCH:
Research methods provide you with the knowledge and skills you need to solve the problems and meet the challenges of a fast-paced decision-making environment.
Business research courses are recognition that students in business, not-for-profit, and public organizations – in all functional areas – need training in the scientific method and its application to decision making.
Two factors stimulate an interest in more scientific decision making:
The manager’s increased need for more and better information and
The availability of improved techniques and tools to meet this need.
CHARACTERISTICS OF RESEARCH :
Research begins with a problem in the form of a question in the mind of the researcher.
Research demands the identification of a problem, stated in clear, unambiguous terms.
Research requires a plan.
Research deals with the main problem through appropriate sub-problems.
Research seeks direction through appropriate hypotheses and is based upon obvious assumptions.
Research deals with facts and their meaning.
Research is circular.




Types of Business Research:
The two main types are Basic and Applied research.
Basic Research –
The basic research is fundamental research driven by a scientist's curiosity.
The main motivation behind it is to expand his knowledge, not to invent something.
Applied research –
Applied research on the other hand is designed to solve practical problems, rather than to gain knowledge.
Applied research sets out to prove a specific hypothesis of value to the clients paying for the research.
For example, a cigarette company might commission research that attempts to show that cigarettes are good for one's health.
Many researchers have ethical misgivings about doing applied research.
Descriptive Vs. Analytical
Applied (Basic) Vs. Fundamental (Applied)
Quantitative Vs. Qualitative
Conceptual Vs. Empirical
Special types of research





Other Types of Research –
Based on the purposes for which the researches ...

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