Business research application

research application in business decision

Further, the following purposes justify the use of exploratory research: Diagnosing a Situation: Sometimes, companies have a situation at hand, but do not know how to define it clearly. In contrast, if the survey has provided promising results it will give Exxon Mobile the proper incentive to roll out a customer loyalty program.

In summary, the research methods presented in this paper can provide beneficial results for companies of all sizes and industry backgrounds. Once he is directed to the website, an intercept survey will start noting his intent, and path.

Making the survey simple will allow research data to be gathered quickly and easily Lancioni Once the question is answered, it will allow the company to make better business decisions Baruch Such a research is critical to make wise and informed decisions.

Nowadays, with the advancement in technology, such a research has become even more simple and accessible to everyone. Many errors are likely to occur in the process of business research.

Business research application

Online research or literature research involves gathering information from existing documents and studies which can be available at Libraries, annual reports, etc. An effective business research question should have the ability set the foundation for future data gathering activities.

Role of research in business

Such a research can help track competition in the business sector. While observing in this setting, the researcher could find out the information he needed first hand without loss of any information or any bias and to improve certain things that would impact his business. Also this method of business research tends to be time consuming. Such methods usually start with data collection and then proceed to statistical analysis using various methods. Drawing conclusions through such a research is a little tricky as independent and dependent variables will always exist in a group, hence all other parameters have to be taken into consideration before drawing a any inferences from the research. As one of the largest oil and gas producers in the world, Exxon Mobile must focus on goals that will help the company maintain dominance within its industry. Business research can be done for anything and everything.

Individual biases have the potential to skew the results of a survey and provide an inaccurate answer to the research question.

Research is a relatively expensive process; exploratory research ensures that this process is not initiated without a thorough understanding of the problem.

application of research

This tactic will ensure that a high volume of diverse entries will contribute to the survey results.

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Term project application of research in businesses