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This document provides an introduction to business research. It defines research as a careful investigation or inquiry to gain knowledge, especially through searching for new facts. Research involves discovery, investigation, observation, experimentation, and finding answers to unsolved questions. The main purposes of research are to produce applicable knowledge and solve problems. Business research specifically aims to gather information to aid decision-making in business. It refers to systematically collecting and analyzing data to find answers to management problems. The objectives of business research can be to explore, describe, or diagnose phenomena as well as answer business questions and solve business problems.
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Introduction to Business Research Methods - Features, Significance of Research
This document provides an introduction to business research. It defines research as a careful investigation or inquiry to gain knowledge, especially through searching for new facts. Research involves discovery, investigation, observation, experimentation, and finding answers to unsolved questions. The main purposes of research are to produce applicable knowledge and solve problems. Business research specifically aims to gather information to aid decision-making in business. It refers to systematically collecting and analyzing data to find answers to management problems. The objectives of business research can be to explore, describe, or diagnose phenomena as well as answer business questions and solve business problems.
This document provides an introduction to business research. It defines research as a careful investigation or inquiry to gain knowledge, especially through searching for new facts. Research involves discovery, investigation, observation, experimentation, and finding answers to unsolved questions. The main purposes of research are to produce applicable knowledge and solve problems. Business research specifically aims to gather information to aid decision-making in business. It refers to systematically collecting and analyzing data to find answers to management problems. The objectives of business research can be to explore, describe, or diagnose phenomena as well as answer business questions and solve business problems.
Dept. of Management Studies MITS - Madanapalle RESEARCH Research is the process of finding solutions to a problem after a thorough
study and analysis of the situational factors.
Research generally refers to a search for knowledge.
Dictionary definition of research is a careful investigation or inquiry
especially through search for new facts in any branch of knowledge.
According to Robert Ross, research is essentially an
investigation, a recording and an analysis of evidence for
the purpose of gaining knowledge.
A research need not lead to an ideal solution but it may
give rise to new problems which may require further
research.
Research is not an end to a problem since every research
gives birth to a new question. It is carried on both for
discovering new facts and verification of old ones.
FEATURES OF RESEARCH
Research involves the discovery of new knowledge
It is essentially an investigation
It is concerned with the solution of a problem
It is based on observation or experimental evidences.
It demands accurate observation or experimentation.
In research, the researchers try to find out answers for unsolved questions
It should be carefully recorded and reported
SIGNIFICANCE OF RESEARCH The main purpose of research is to produce knowledge that can be applied outside a research setting.
Research also forms the foundation of program development and policies
everywhere around the universe.
It also solves particular existing problems of concern. Research is
important because we are able to learn more about things, people, and events. BUSINESS RESEARCH The purpose of business research is to gather information in order to aid business related decision- making.
In business, research is important in identifying
opportunities and threats. Often, a companys success or failure is dependent on the actions undertaken as a result of conducting research.
Business research refers to systematic collection and
analysis of data with the purpose of finding answers to the problems faced by the management. OBJECTIVES OF BUSINESS RESEARCH It can be carried out with the objective to explore, to describe or to diagnose a phenomenon.
It involves establishing objectives and gathering relevant information to
obtain the answer to a business issue and it can be conducted to answer a business related question, such as: What is the target market of my product?
Business research can also be used to solve a business-related problem,
such as determining how to decrease the amount of excess inventory on hand. Thank You