Research methods for business reports

Shevelev Vladimir In any organization, managers at all levels need accurate and timely information for managerial decision making. Whether the decisions made are at technical, tactical, or strategic levels, good, accurate, and timely information always leads to a better decision. Gathering of information is done through a sound and scientific research process.

Research methods for business reports

Shevelev Vladimir In any organization, managers at all levels need accurate and timely information for managerial decision making. Whether the decisions made are at technical, tactical, or strategic levels, good, accurate, and timely research methods for business reports always leads to a better decision.

Gathering of information is done through a sound and scientific research process. Each year organizations spend enormous amounts of money for research and development in order to maintain their competitive edge. Accurate information obtained through research leads to enormous benefits.

The heart of this definition is the concept of problem solving. Both applied and pure also known as basic research attempt to solve problems. In applied research, the researcher attempts to solve a known problem and find answers to specific questions.

In other words, the emphasis of applied research is on practical problem solving. For instance, when a paper recycling company wants to determine whether or not their recycled papers meet the required specification as to the thickness of the paper across the roll, they might design a systematic procedure for answering this specific question.

The research in such a situation represents applied research. Another example of applied research might be that of prediction. As an example, consider a trucking company that is interested in predicting the tonnage of material shipped in the next quarter.

The practical problem is predicting the tonnage and determining which variables are good predictors of tonnage for the next quarter. Applied research can help make a decision about the following, including a variety of other business and management decisions: For example, research can help pinpoint the optimal business location and the size of markets.

It can also be used to monitor competitive actions. Customer research determines customer loyalty, customer satisfaction, and customer preferences.

On the other hand, pure, or basic, research does not necessarily try to answer specific questions or solve specific problems. Pure or basic research is done in order to expand knowledge and probe into the unknown.

For example, when a researcher is interested in determining how employee demographics and tenure on the job relate to preference for flexible work schedules may represent pure research. Both pure and applied research deals with problem definition and problem solving.

Most basic research is conducted by professors in academic institutions i. Few business organizations will engage in pure research related to business problems. However, understanding the process and methods used for both applied and basic research are important to interpreting research results.

Furthermore, the process of research is dynamic and the process may change as the research progresses. The steps involved in most research endeavors are shown in Figure 1. Managers need information to make educated decisions arising from unanticipated as well as planned changes.

As such, managers must select between different alternatives and thus require information about the organization and its environment.

The question to be answered or the problem to be solved must first be clearly defined. Questions to be answered could be very specific or extremely broad.

The more specific the questions, the easier it will be to answer the research questions. There might be hypotheses that could be tested scientifically. Once the questions to be answered are clearly defined then the value of the research must be assessed.lausannecongress2018.com’s Profound solution allows you to maximize your research budget by purchasing only the specific data you need.

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research methods for business reports

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