Business > STUDY GUIDE > Humber CollegeBUS. 301BUSINESS RESEARCH METHODS UPDATED FALL 2021 (All)

Humber CollegeBUS. 301BUSINESS RESEARCH METHODS UPDATED FALL 2021

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BUSINESS RESEARCH METHODS Research is vital in all business environments, and put into practice far more than most people presume. Every modern day manager uses research with almost any decision he makes within the company (not just when planning to advertise, as many seem to believe). Even when a manager believes that they are acting out of some kind of instinct, or hunch, it will nearly always be based on some kind of prior experience. So all these decision are tracing back to some form of past research. Although this does not mean that the term research is not over used and/or used in the wrong context. For example Walkman (2001) states that the term ‘ research' is used incorrectly on a regular basis. Examples he uses that highlight incorrect usage of the term include such situations as, ‘ collecting facts or information with no clear purpose' (Walliman believes, in order for data to be taken as part of research, it must be aimed towards an objective) and also, ‘ reassembling and reordering facts or information without interpretation'. It is important to remember that research aids decision-making, and the results are in no way a decision themselves. "In practice, most organisations have a continuous programme of research, often stretching back many years, which is designed not solely for advertising purposes, but also to help them run their businesses properly". (Torin Douglas – 1984) Types of Research: The type of research that research that is being performed is most simply defined by the question it is answering. Business research (also called applied research) is best defined as trying "to solve specific, practical questions" (www.wikipedia.com). This is most often performed by companies, when trying to solve a serious and truly important problem. For example, if the manager of a retail store were having problems with the staff attitudes, they would pften take it upon themselves, using their prior experience to solve the problem. But if the manager were worried that they are not reaching goals, and are not performing well next to competitors. They will need to perform a form of deep analysis/research that is tailored to meet the objectives of the question. In this example, it would not be uncommon for an external, professional researcher to be brought in to perform the task. (Although it is important to remember that although this may happen, it does not mean that only primary data is being used. It is very likely that there will be some useful secondary data available to help with the research). This is a perfect example of business research. Of course by knowing the question you want answered, and following it in a systematic sense, it is far easier to choose the best method of research

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