Business Research

by | Sep 4, 2021 | Homework Help

Write a 5 page essay on Business Research.e managers are expected to conduct the business research in order to gather some information regarding the functioning of the organization (Koufteros, Vonderembse and Jayaram, 2005). They also conduct the market research in order to determine the relevant information about the competitors in the international market and plan out strategies to make the organization perform well. Zikmund, 2009 has pointed that business research becomes increasingly essential for the companies to carry out a successful business. However, irrelevant information collected by the managers leads to an incorrect decision making procedure and the company would not be able to judge its market position. The research offers a scope to the researcher to understand the importance of collecting relevant information from the market. It also aims to make the researcher carry out a critical evaluation of the statement that whether information about a particular field reduces the uncertainty in business.Zikmund and Babin, 2009 suggests that only way to gather business related information is by conducting an overall survey on the market and analysing the data collected. In order to gather the relevant information, the business research has to be conducted by the managers in various fields because the decision making process within an organization is based on the data that is collected (Lambert, Leuz and Verrecchia, 2007). Business decisions are taken in each and every step of the business activities that are manufacturing, sales, operations, logistics, human resource management and marketing (Van Nieuwerburgh and Veldkamp, 2009). Based on the information collected related to the demand of a particular product in the market, the company can make decisions on the manufacturing and the sales activities. In case the demand for a product is high, the company can increase its production decision. Further, the inventory management for the future is also an important task that the managers need to undertake

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