Week 1 Assignment

Week 1 Assignment

Week 1 Assignment

Terms in Review (pg. 22)

1. Business research is defined as a systematic inquiry that helps to provide information to the managerial staff to help guide decisions (Cooper, Donald R., Schindler, Pamela S.). Research by an organization is a process of planning, acquiring, analyzing, and dissecting relevant data or information for insights to making decisions that will help to maximize the organization’s performance. Business research as based upon this interpretation then plays an important role in the organization’s decisions.

There should never be any question about the definition of research. Research is a vital part to any type of business because it permits a company to find out exactly what the consumers want from the business and gives them ideas about how to fix any issues that consumers have seen that would deter them from either purchasing a product or giving the business return visits, such as in the case of a restaurant. Research also helps businesses set up a market strategy that will not only help to promote their product or service but, it also helps obtain opinions on how to make ads that will attract the various racial and ethnic groups that are around the community. With all of these ideas and data a business can only grow and succeed as long as they can use the research that they gather to improve their business and the way that society views them. However; Business research is a systemic way of investigating different information that may guide in managerial decision making. This process of guiding, analyzing and breaking down information helps to make decisions that can organize or improve a business process. There would be questions about the definition of research because the way research is conducted, it is not considered systematic. Research means different things to different people and can be conducted in different manners.

2. Research can either be applied or basic or pure research....