Describe the Business Research Process
The business research process is an organized approach to studying all aspects of a business, the market, and its customer base to assist in making wise business decisions. The process consists of a logical flow of steps to arrive at a management decision. Step 1 begins with a management dilemma requiring further research. Once the research question is clarified through exploration the next step begins. Step 2 is proposing research, or data collection. This phase can include obtaining budgetary approval and the allocation of resources. Following this step, the researcher will need to design the research project which is step 3. The research design serves as a blueprint for meeting the objectives and answering any questions. Step 4 consists of data collection and preparation, while step 5 pertains to the analysis and interpretation of the collected data. The final phase, step 6, is the reporting of the results or findings of the research. This reporting of information is used by management to assist in making the right business decision for the organization.
Although this outline is described in its simplest terms, it does give a logical approach to tackling any problem requiring research. At the team learned in week one, it is not always necessary to complete each step before moving on to the next. Some situations will allow steps to be skipped, worked out of sequence, or revisited as the research progresses. The team now has a better understanding of taking a logical approach to researching business concerns. Although the team has utilized most of these steps in their personal and work experiences, it was important to see the process laid out in a logical format. Viewing the process in a flowchart format allowed our team to see how each step leads into the next in a logical succession.
As a team we now have a better understanding of how necessary it is to take that initial management dilemma and...
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