What Are The Types Of Business Research?

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Matthew Crist Profile
Matthew Crist answered
Regardless of the size of a company, the number of people they have working for them, whether they are just starting out or are well established, business research is vital in terms of how they conduct themselves and the decisions they make. Information gained from research can influence the decisions businesses make and the direction they take in order to stay ahead of their rivals and keep up to date with public opinion and requirements. There are several different areas of business research which companies will undertake in order to gain as much information as possible.
  • Researching a company organization provides details of that firm from the ground up. From how employees conduct themselves to how management come to the decisions they make. Researching company organizations also reveals how much money a business can make as well as which departments make money and which ones are not as profitable.
  • Market research provides a company with a good overview of what the consumer wants from a business. Happy customers will always generate good income so it is imperative that a business does thorough research on their client base.
  • Researching the product is a hugely important factor when a business is investigating its position in the market place. If a product is failing or falling short it will cost the company money in the long run, so having a good knowledge of what sells is a huge advantage and another area where research is hugely important.
  • Investigating the financial clout of a business will offer a company a window into how that firm copes with fluctuations in the market. Some larger companies will be able to ride an economic storm easier than others and it is important to research the financial stability of businesses.
Anonymous Profile
Anonymous answered
There r two main types of  rsearch basic research and second is applid research  basic research deals that expand the  boundries of  human knowledge and applied research gives th answer of spcific question not give the knowledge
Aisha Profile
Aisha answered
The two main types are Basic and Applied research.
The basic research is fundamental research driven by a scientist's curiosity. The main motivation behind it is to expand his knowledge, not to invent something.
Applied research on the other hand is designed to solve practical problems, rather than to gain knowledge
.
Anonymous Profile
Anonymous answered
Two types
1 basic research:- is that research in which we give the business information not to give solutions
2.applied research:-is that research in which we give solution of problem not to give knowledge
Anonymous Profile
Anonymous answered
Basic and applied research
Alex hales Perry Profile

Business Research: Business Research include financial Data, Customer Feedback, Product Research and Competitive Analysis.

In the Business Research, We have so many types are there.

1. Basic Research

2. Applied Research

3. Problem Solving

4. Quantitative Research

5. Qualitative Research

Call Tutors Profile
Call Tutors answered

Bussiness Research is a systematic method of discovering new facts and verifying old ones with their sequence interrelationship and caused explanation.

Types of Business Research

There are two types of business research

  1. Applied Business Research:

Applied business research comes out from work related problems that need timely solutions. For example a product may not be selling well and the manager might want to find the reasons for this in order to take action or Business is facing problems in retaining employees, or there is higher degree of absenteeism in the business. All these are problems that require the business to find immediate solutions; otherwise the business would fail to run smoothly. Thus research carried out with the intention of applying the results of the findings to solve specific problems is applied business research.

2) Basic Business Research

Basic business research is where the motive is to generate a body of knowledge by developing an understanding on how certain problems that occur in the organizations could be solved. There is a definite possibility that organizations might transfer the learning from the research to the workplace for problem solving. For instance a research carried out at a university facility on “Motivating Employees in times Recession with Low Pay” could be a useful piece of work, and could be applied to practical settings when businesses are facing downturn. Thus research done primarily to enhance understanding on certain problems that commonly occur in organizations is called Basic, fundamental or pure research.

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