What Are the Benefits and Objectives of a Business Research?
Business research process is a characteristic of the market that enables an organization to make informed and sound business decisions. The business research process consists of various elements which contribute to better decision making including; the approach, the research topic, data collection using one or two different methods and the analysis just to name a few. Why is business research objectives important? How does business research benefits an organization in the decision making process? How business research helps to formulate or organize ideas to tell the reader your intentions? These are some of the many questions that a business research can give an answer to. These different business phenomenon and methods of business research process will be discussed so as to obtain a coherent understanding of the crucial role it plays in business productivity.
“For any business the most important thing to do first and foremost in the research process is to formulate and clarify the research topic this is important so as to collect the right amount of information that is cost efficient” (Saunders, Lewis, & Thornhill, 2007). The main reason for business objectives is that it serves as a method of keeping the project on track. This is important to a business so as to set targets and reaching them with the aid of knowledge and information gained from the business research process. Every business must stick to its original objectives, so they impact the original goals of the organization. Being able to understand the business research methods can be of great benefits because it helps one to be more specific about the research being discussed (Dr. Sue Greener, 2008).
The main fundamental benefits of business research are that it provides information for businesses to understand the nature of their business market, environment, government policies, etc. The business research, therefore, identifies problems so as to position itself and take action with information gathered to support the decision making process. The research benefits the organization greatly because it is the only medium through which