Introduction to Research Definition Features of research Business Research Features of Business Research PDF

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Introduction to Research Definition Features of research Business Research Features of Business Research
Simply, research is a systematic method of finding solutions to problems. It refers to the systematic method consisting of enunciating the problems, formulating hypothesis, collecting the ...

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Research Simply, research is a systematic method of finding solutions to problems. It refers to the systematic method consisting of enunciating the problems, formulating hypothesis, collecting the data & reaching certain conclusions either in the form of solution or certain generalizations for some theoretical formulation. Definition: - According to Robert Ross, “research is essentially an investigation, a recording & an analysis of evidence for the purpose of gaining knowledge”. According to Webster’s International Dictionary, “research is a careful, critical enquiry or examination in seeking facts or principles, diligent investigation in order to ascertain something”. Features of research: 1. 2. 3. 4. 5. 6.

Research means the discovery of new knowledge. Research is essentially an investigation. Research is related with the solution of a problem. It is based on observation or experimental evidences. It demands accurate observation or experimentation. Expertise is required in research because skill is required to enquire & gather data & to understand and analyse data. 7. Generally, researcher tries to find out answers for unsolved questions. Business Research Business research is a type of research used to identify investment opportunities or start of a business or succeeding improvement. According to Mc Daniel & Gates, “Business research is the planning, collection & analysis of data relevant to business decision making & communication of the results of this analysis to Management”. Features of Business Research 1. It is a systematic & objective process of gathering, recording & analyzing data for decision making. 2. Business research has a clear objective. 3. Business research is multi disciplinary. 4. It covers all the regions in which the business operates, locally & internationally. 5. It helps to judge local problems of the environment. 6. It helps to determine the cost or profitability of the business. 7. It is flexible in nature. 8. Business research is most often focused on demand. Role of Business Research in Decision Making 1. 2. 3. 4. 5.

Product Analysis. Market Analysis. Financial Analysis. Competitor Analysis. Growth Analysis....