Current Events in Business Research

Business research is a well organized investigation and study of a company that provides information that lead to managerial decisions. Its process includes collecting of data, planning, analyzing, and obtaining organizational goal. Another important aspect of business research may involve in learning about competitors marketing strategies to obtaining an edge in their market share. I work for a fire safety inspection company that once had conducted a business research on a competitor that lost a contract taken over by my organization. The purpose of the research was to learn about how effective their service was to the client and what led to their downfall.

As a business to business service type of company, the eventual goal of the company I work for is to provide great customer/client satisfaction while maintaining and enhancing employee productivities and applying the utilization of updating products in our daily operation activities. When the company had a new contract lost by a competitor at the Faro building, the general manager chose to conduct a business research on the former company that lost the contract. We started by gathering primary data information with simple surveys and questionnaires. The information that we had gathered are the farmer company failed to apply and uses necessary tools and updated products to their service. Moreover, Faro building was being charged for unperformed activities that as a result lead them to lose the contract.

The data retrieved from our research studies helped the company to make proper adjustments based on the previews company’s performance, client suggestions, employee recommendations, and other sources. Our business research team got involved and planned to improve their service reform to adjust to the client needs which will guaranty great satisfaction.

Business research procedure involves studying all aspects of a company, its customers/client and the market, then