BUSINESS RESEARCH METHODS (524)

RESEARCH REPORT
& ITS IMPORTANCE IN BUSINESS

Submitted by:

(AH524979)
 ACKNOWLEDGEMENTS

First of all I would be thankful to Allah Almighty without whose blessing and mercies I were not
able to complete this project. This project is refined from splendid efforts of many people who
contributed regardless of any reward. I thank them from the core of our hearts. May Allah give
them success by leaps and bounds.

I can’t forget the guidance’s and knowledge which our kind teachers have provided us. We were
lucky to have such a kind teacher who taught us and with such devotion and zest, which I could
never forget. I thank him from the core of my heart.

In the end we would like to thank to all those people who provided us with useful suggestions,
useful data and facility of composing.
 ABSTRACT

For more than a decade, HR Pakistan has been providing safe, challenging, life-changing study
abroad experiences to students and professionals in Pakistan and abroad. It helps in achieving
goal of people who wish to study abroad or get professional qualification.

HR-Consultants is a private limited company. Board of directors includes Mr.Shahid Rauf,

Mr.Hamid Rauf, Mr.Arafat Shahid, Mr. Osama Hamid and Mr. Bilal Shahid. Established in
1993, HR Consultants is the official representative of a number of prestigious foreign
universities and has a strong reputation for helping students to study in a foreign country. There
are many universities/institutions worldwide where HR Pakistan is closely working with or have
agreements and admissions can also be arranged in one of them.

HR is one of the leading education consultants in Pakistan. Research reports have played a vital
role in the efficiency of HR. The research paper will put light on different uses that HR extracts
from the research reports.
 TABLE OF CONTENTS
Introduction to the Topic .............................................................................................................................. 1
1.1 Research Report ............................................................................................................................ 1
1.2 Business Research Report ............................................................................................................. 1
1.3 Types of Research Report ............................................................................................................. 1
1.3.1 Informal Reports ................................................................................................................... 2
1.3.2 Formal Reports...................................................................................................................... 3
1.4 Organization of the Research Report............................................................................................ 3
1.5 Importance of Business Research ................................................................................................. 4
1.5.1 Research Report Before Starting a Business ......................................................................... 4
1.5.2 Research Report in Business Management .......................................................................... 6
Practical Study............................................................................................................................................... 8
2.1 Introduction to HR-Consultants .................................................................................................... 8
2.1.1 Mission Statement .............................................................................................................. 10
2.1.2 Services ............................................................................................................................... 10
2.2 Research Reports in HR ............................................................................................................... 11
2.3 Examples of Research Reports in HR .......................................................................................... 11
2.4 Importance of Research Reports in HR-Consultants .................................................................. 14
2.4.1 Market Analysis ................................................................................................................... 14
2.4.2 Market segmentation ......................................................................................................... 14
2.4.3 Developing promotional strategies..................................................................................... 14
2.4.4 Analyzing competitive edge ................................................................................................ 14
2.4.5 Increasing profits................................................................................................................. 15
2.4.6 Decreasing costs & Future Forecasts .................................................................................. 15
2.4.7 Budget Allocation ................................................................................................................ 15
2.4.8 Facilitating clients ............................................................................................................... 15
Data Collection Methods ............................................................................................................................ 16
SWOT Analysis............................................................................................................................................. 17
4.1 Strengths ..................................................................................................................................... 17
4.2 Weaknesses ................................................................................................................................ 17
4.3 Opportunities .............................................................................................................................. 17
 4.4 Threats ........................................................................................................................................ 17
Conclusion ................................................................................................................................................... 18
Recommendations ...................................................................................................................................... 19
References .................................................................................................................................................. 20
 Assignment II – Business Research Methods (524)

INTRODUCTION TO THE TOPIC

1.1 RESEARCH REPORT

Research experience is as close to a professional problem-solving activity as anything in the

curriculum. It provides exposure to research methodology and an opportunity to work closely
with a faculty advisor. It usually requires the use of advanced concepts, a variety of experimental
techniques, and state-of-the-art instrumentation. Ideally, undergraduate research should focus on
a well-defined project that stands a reasonable chance of completion in the time available. A
literature survey alone is not a satisfactory research project. Neither is repetition of established
procedures. Research is genuine exploration of the unknown that leads to new knowledge that
often warrants publication. But whether or not the results of a research project are publishable,
the project should be communicated in the form of a research report written by the student. It is
important to realize that science depends on precise transmission of facts and ideas.

1.2 BUSINESS RESEARCH REPORT

Business report writing happens to be an indispensable part of the communication process.

Executive summary is written in a non-technical manner. By and large, audience for business
reports will consist of upper level manager, for that reason you should take the audience needs in
consideration. Go on with the introduction to articulate the problem and determine the scope of
the research. To attain the desired results, don't fail to state about the precise quantitative tools.

1.3 TYPES OF RESEARCH REPORT

To presents the tangible proof of the conducted research is the major intention of the academic
assignment. When writing on research report, you must ponder over clarity, organization, and
content. Research reports are all the more same to technical reports, lab reports, formal reports
and scientific papers which comprise a quite consistent format that will facilitate you to put your
information noticeably, making it crystal clear.i The two basic types of Research report are:

 Formal Reports (Long Reports)

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 Informal Reports (Short Reports)

1.3.1 INFORMAL REPORTS

A short report informs the reader about a specific subject to help her make a decision. Usually no
longer than 10 pages, a short report consists of facts and sometimes an analysis of the facts, as
well as recommendations. The information is arranged in a memo format with both first- and
second-level headings. Readers of these reports expect the information to be written clearly,
concisely and completely.

 Begin your short report with an Introduction heading. Include a statement about the
report's subject, an explanation of why the report was written and a summary of its
contents. Also mention the intention of the report, which is usually to help the reader
make a decision about something.
 Present the facts about the subject clearly and concisely, but compose a complete report,
giving the reader all the information necessary to make an informed decision. Present the
most important information first, keeping in mind the decision that needs to be made.
 Use appropriate first-level headings (for example, Facts, Discussion, Findings, Costs,
Limitations, Advantages, Conclusions, and so on). Under these, use more specific
second-level headings (for example, System Temperature Requirements, Current Self-
Service Options, or Factory's Exterior Condition).
 Be objective in your report, presenting both sides of an issue when possible and clearly
separating fact from opinion. If, for example, you are writing about the condition of a
factory's exterior condition, be sure to present both the positive things and the negative
things.
 Cite your sources to persuade the reader of your information-gathering reliability. These
may include interviews, articles, company records, surveys, your own observation, and so
on.
 Share your recommendations if asked to do so, using an appropriate first-level heading
such as Recommendations or Suggestions, followed again by more specific second-level
headings. Use a numbered or bulleted list if presenting more than two. When persuading
your reader, always give your strongest argument first.

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 Assignment II – Business Research Methods (524)

 Proofread your short report carefully before sending it to the reader.

1.3.2 FORMAL REPORTS

Formal reports are also called the long reports. There are two types of long/formal reports:

 The Technical Report

 Management Report

1.3.2.1 TECHNICAL REPORT

Technical reports present facts and conclusions about your designs and other projects. Typically,
a technical report includes research about technical concepts as well as graphical depictions of
designs and data. A technical report also follows a strict organization. This way, when other
engineers read what you write, they can quickly locate the information that interests them the
most.ii

1.3.2.2 MANAGEMENT REPORT

As one of Management in a bank, the management makes decisions almost every day during the
meeting. I believe most of the time of top management is attending regular meeting and where
we make decisions on operational issues and policy matters.

Management make decisions on the reports given before the meeting or many times during the
meeting. A challenge to management is to make decision solely on the report presented during
the meeting. It becomes harder when management have limited time to think, analyze, evaluate
and decide.iii

1.4 ORGANIZATION OF THE RESEARCH REPORT

Most scientific research reports, irrespective of the field, parallel the method of scientific
reasoning. That is: the problem is defined, a hypothesis is created, experiments are devised to test
the hypothesis, experiments are conducted, and conclusions are drawn.

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 Assignment II – Business Research Methods (524)

This framework is consistent with the following organization of a research report:

 Title
 Abstract/Executive Summary
 Table of Contents
 Introduction
 Problem Statement
 Research Objective
 Experimental Details or Theoretical Analysis
 Results
 Discussion
 Conclusions and Recommendations
 References

1.5 IMPORTANCE OF BUSINESS RESEARCH

Business research consists of a program which tells how applicable information is to be gathered
and examined, so that the consequences are helpful and appropriate for making promotion
decisions. Once the research and analysis are done, the outcome is communed to management.
This is why business research is important as it provides information concerning critical issues
that have an influence on the aim market and existing marketing mix.

Business research also helps to make great changes in the market. Without research business cant
run in an efficient way. Research is important in each and every field. Research helps us to know
that how our business is running and it also helps us to know that what all changes we have to do
in our business to earn more profit. So in simple way we can’t run our business without research.
iv

1.5.1 RESEARCH REPORT BEFORE STARTING A BUSINESS

No matter how brilliant your idea might be, but before plunging into a business, you should
research about the feasibility of your idea. Research should be the first step of a sound business
plan.
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1.5.1.1 IS THERE A MARKET FOR YOUR PRODUCT?

You might think that you have created a wonderful product, but if there is no demand for your
product, all your resources will be wasted. Therefore, before launching a business, you should
search whether there is a market for your product. You can go through the yellow pages or
conduct online search for similar products or services. Spending some resources in conducting a
market survey would help you to draw a proper conclusion. Presence of many similar businesses
might suggest that there is a market for the product.

1.5.1.2 IS THERE ROOM FOR MY PRODUCT?

If there are several businesses in the same sector, it will suggest that there is intense competition.
To survive the cutthroat competition, you must have something new to offer. You should look
for lacunas in the sector, which your new product or service could fill. If you do not have any
innovative idea that can hit the industry with a bang, try operating in areas in similar fields where
there is least competition.

1.5.1.3 DO YOU HAVE THE RESOURCES TO RUN THE BUSINESS?

You have an innovative idea, but to run a successful business you should have enough resources.
Right skills, proper knowledge and financial resources are required to run a business. Check
whether you are capable of investing enough money to employ the right person for the right job.
If you are unable to operate a business efficiently, despite the feasibility of your idea, your
business will not survive.

1.5.1.4 EMPLOY A MARKET RESEARCH AGENCY

It might not be possible for you to do the research job yourself. Several market research service
agencies are available to handle the task on your behalf. The report prepared by the market
research agencies would help you to design your business efficiently.v

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1.5.2 RESEARCH REPORT IN BUSINESS MANAGEMENT

The business world is becoming increasingly competitive due to rapid advancement of Internet
technologies whereby many business organizations have incorporated the web as the new
marketing channel to reach out for their stake holders in the global market, particularly the
suppliers and the customers. Many companies are finding it difficult to sustain competitive
advantage in today's markets as more and more new entries are competing in the same market
segment, also known as the red ocean market which has become overcrowded and profits are
thinning.

With the looming of the possible recession facing the largest economy in the world and possibly
the whole world, the future of business organizations look groom and many of them will finally
collapse if nothing is done about it. So the big question how do the business organizations
survive in such troubling time? I think the best strategy is to venture into something totally new,
a market that nobody or very few competitors exist, a strategy which is now popularly known as
the blue ocean strategy as advocate by W.Chan Kim and Renee Mauborgne.

However, it might not be so easy to put the blue ocean strategy into practice, so the next best
thing to do could be to think of new strategies which could give the particular business
organization competitive advantage over the competitors, even in the traditional red ocean
market. Irrespective of which two strategies above to be adopted by a business organization, a
new strategic planning is the key for survival and success.

Human capital is becoming very important now as the world economy is transforming into
knowledge economy, where human intelligence can be used to generate useful knowledge which
can tapped to bring profits to the business organization. For R&D facilities, one of the most
important components is the Management Information system (MIS) which researchers can use
some of the automation tools to conduct research.

These automation tools are software that was cleverly designed to do data mining and to generate
information and knowledge as well as to help the managers make decisions. Some of these tools
are the Decision Support System (DSS) and Executive Information System (EIS). Combining
human intelligence and ICT automation tools, the business organization will be able to carry out
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effective research and would be able to produce innovative and creative ideas that will certainly
help the organization to implement new strategies that will enable it to ride on the wave of
change and push it to a greater height.vi

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PRACTICAL STUDY

2.1 INTRODUCTION TO HR-CONSULTANTS

For more than a decade, HR Pakistan has been providing safe, challenging, life-changing study
abroad experiences to students and professionals in Pakistan and abroad. It helps in achieving
goal of people who wish to study abroad or get professional qualification.

HR-Consultants is a private limited company. Board of directors includes Mr.Shahid Rauf,

Mr.Hamid Rauf, Mr.Arafat Shahid, Mr. Osama Hamid and Mr. Bilal Shahid. Established in
1993, HR Consultants is the official representative of a number of prestigious foreign
universities and has a strong reputation for helping students to study in a foreign country. There
are many universities/institutions worldwide where HR Pakistan is closely working with or have
agreements and admissions can also be arranged in one of them.

HR Pakistan is highly recommended by the foreign institutions and foreign missions in Pakistan
such as the British Council, Australian Trade Commission, New Zealand Trade Commission etc.
to process/assist admissions and visas for students and professionals interested to study in a
foreign country such as UK, USA, Canada, Ireland, Switzerland, Australia, New Zealand and
other countries.

HR Pakistan is also providing foreign professional education in Pakistan, in both campus based
and distance learning mode. Also test preparations such as ACCA, GMAT, TOEFL, IELTS are
provided by highly trained and qualified professionals.

Some of HR offices are approved Testing Centers for TOEFL - (iBT).ACCA, UK has also
approved one of its subsidiaries UCAT as a Computer Based, HR is an Examination and
Teaching Center for several courses. vii

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HR Pakistan provides complete assistance to students in admission in a foreign university and

visa filing at the respective embassy or high commissions. Complete visa filing and
documentation is assisted by HR after verifying students' Educational records, Financial
background and Motivation to study abroad subject to meeting all requirements/conditions by
the students.

Visa applications are processed under the Student Select Scheme (SSS) under the cover letter of
HR Consultants. HR Pakistan also provides Free Pre-Evaluation to the students.

Some of the top universities represented ~ recommended by HR Pakistan are; Brunel University-
West London, Birmingham City University, Bournemouth University, Queen Mary, University
of London, University of Reading, Middlesex University, Kingston University London,
University of Bradford, University of Bolton-Manchester, University of Salford-Manchester,
University of Birmingham, University of Leicester, University of Glasgow, Nottingham Trent
University, Glasgow Caledonian University, University of Paisley, Queens Belfast University,
Coventry University, University of Sheffield, LIBT - at Brunel University West London, West
London College, Cavendish College, Holborn College London, BPP - London, Bradford
College, City College Manchester, Nottingham Trent International College, FTC London,
London College of Accountancy (LCA), London College of Advanced Studies, Oxford Media
and Business School, London School of Business & Finance (LSBF), Sheffield International
College, Pembrokshire College, Dublin Institute of Technology, Griffith College Dublin, Curtin
University of Technology (Curtin Sydney), University of Wollongong, Charles Sturt University,
La Trobe University- Melbourne, Deakin University, Melbourne, Swinburne University-
Melbourne, University of Western Australia- Perth, Murdoch University- Perth, Central
Queensland University Sydney- Melbourne- Brisbane, Holmesglen Institute of TAFE-
Melbourne, Northern Melbourne Institute of TAFE- Melbourne , Melbourne Institute of
Technology, TAFE NSW, IHTTI School of Hotel Management, HIM School of Hotel
Management, SHMS School of Hotel Management. University College of Advanced
Technologies (UCAT) - UCAT is an approved teaching and examination center of ACCA UK,
ABE UK, ACP UK, Edexcel International UK, CTHCM UK, Pakistan Computer Bureau,
Islamabad, Skill Development Council, Government of Pakistan.

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2.1.1 MISSION STATEMENT

HR Pakistan is incorporated under the companies ordinance Act 1984 of Government of

Pakistan. The main purpose of the company is to provide education counseling and education
opportunities in Pakistan and abroad i.e. we (HR) emphasize on quality, full fee
paying/scholarship holders international students to be placed in highly reputed educational
institutions abroad.

2.1.2 SERVICES

HR services include:

 Advising you about course/degree selection

 Evaluating your application and all your educational documents and helping you in
completing all the requirements
 Advising you about enrolment procedures, fee payment modes, scholarships,
accommodation etc.
 Assisting you in processing your application and filing for visa
 Providing you TOEFL/IELTS preparatory classes (if required)
 Preparing you for visa interview
 Counseling you regarding pre-departure and post arrival issues
 Providing options for travel arrangements and health insurance etc.

Educational institutions represented by HR Consultants (Pvt.) Ltd are large and comprehensive
institutions. They are located in major and popular cities. While the range of institutions and
locations is varied, all of the institutions we work with have certain criteria in common. First and
foremost, the universities’ programs, facilities and staff are of the highest quality and are located
in a safe environment conducive to learning. Second, institutions are willing to make you an
integral part of their university and have committed staff to ensure your success.

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2.2 RESEARCH REPORTS IN HR

The work HR-Consultants do, requires a lot of homework. They need to have full information
about the universities, courses and the market requirement. HR-Consultants maintain both formal
and informal research reports. Formal Research reports are made, annually for the top-level
management, whereas informal reports are made in every trimester.

HR maintains confidential formal reports that deal with the financial analysis of the company,
and informal/short reports that show the market research. Hence long-term decisions are made on
the basis of formal reports and quick decisions are made on the basis of informal reports.

HR uses informal reports for the following purposes:

 Market Analysis,
 Market segmentation,
 Developing promotional strategies,
 Analyzing competitive edge,
 Increasing profits,
 Decreasing costs,
 Budget Allocation,
 Facilitating clients, etc.

2.3 EXAMPLES OF RESEARCH REPORTS IN HR

The data and reports produced by HR are confidential. Therefore dummy data and report sample
is given. The report consists of the following data:

 Tabular data (Based on data from the clients and market)

 Charts and figures (Based on tabular data)
 Description of analysis driven
 Forecast / Decision Making

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*The Data is fake

*The data is fake

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*The data is fake

Graphical representation of data is done to elaborate the results.

*Charts are based on fake data

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2.4 IMPORTANCE OF RESEARCH REPORTS IN HR-CONSULTANTS

HR-Consultants rely a lot on their research reports. An expo is conducted every trimester
following the analysis given by the previous expo. Research and Development Department along
with the research analysts give options, and the board of directors finalizes the decisions. HR
uses research reports for the following purposes:

2.4.1 MARKET ANALYSIS

Using various techniques, the research work is analyzed and a team of experts take the trends
from the market. For example: Which city gives the highest number of students, from which
source large number of students are coming etc.

2.4.2 MARKET SEGMENTATION

Market segmentation is very important for the development of promotional strategies. Using the
research report, the market is divided into segments. For example, citizens of City like Islamabad
prefer UK, citizens of Karachi prefer Australis, etc.

2.4.3 DEVELOPING PROMOTIONAL STRATEGIES

On the basis of the research reports, promotional strategies are developed, by keeping in view the
market analysis.

2.4.4 ANALYZING COMPETITIVE EDGE

Research reports are quite helpful in analyzing the competitive edge.

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2.4.5 INCREASING PROFITS

Research report is helpful in cost analysis. With the cost analysis, future forecasts can be made
and future costs can be reduced, and profits can be increased, efficiently. HR uses the Blue
Ocean Strategy to decrease its costs and increase its profits.

2.4.6 DECREASING COSTS & FUTURE FORECASTS

Research report is helpful in cost analysis. With the cost analysis, future forecasts can be made
and future costs can be reduced, and profits can be increased, efficiently. HR uses the Blue
Ocean Strategy to decrease its costs and increase its profits.

2.4.7 BUDGET ALLOCATION

The budget of the company is allocated on the requirement of the company, which is derived
from the research conducted.

2.4.8 FACILITATING CLIENTS

Research reports are helpful in getting idea about the clients’ needs. HR uses the information for
creating healthy relationships with its clients, by offering them scholarships, and programs that
they are interested in.

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DATA COLLECTION METHODS

Primary as well as secondary data was used. Secondary data was collected from the internet and
several books, the references of secondary data are available in the “reference” section.

I visited HR-Consultants for the collection of primary data. The data was confidential therefore
description of data and research work was expressed by the concerned person.

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SWOT ANALYSIS
4.1 STRENGTHS

 Best consultants in Pakistan

 Highlight the universities of developed countries

4.2 WEAKNESSES

 Does not cover universities of many small/under-developing countries

 Limited to Pakistan only

4.3 OPPORTUNITIES

 Due to inflation, people are trying to get out of Pakistan

 International office can be setup

4.4 THREATS

 Low economy and poverty in Pakistan can lower the rate of clients per year
 Other consultants in the market can be a threat to HR

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CONCLUSION

Research experience is as close to a professional problem-solving activity as anything in the

curriculum. It provides exposure to research methodology and an opportunity to work closely
with a faculty advisor. HR maintains confidential formal reports that deal with the financial
analysis of the company, and informal/short reports that show the market research. Hence long-
term decisions are made on the basis of formal reports and quick decisions are made on the basis
of informal reports. HR uses informal reports for the following purposes; Market Analysis,
Market segmentation, Developing promotional strategies, Analyzing competitive edge,
Increasing profits, Decreasing costs, Budget Allocation, Facilitating clients, etc.

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RECOMMENDATIONS

HR-Consultants should expand the business to international market in order to gain more clients
and maximize profits. The list universities should be revised; more universities should be added
to the portfolio. Moreover other small countries like china, Sweden etc should be covered as
well. Research reports should be used to analyze the target audience and response and the market
analysis. Measures should be taken to improve the quality of services, provided by HR.

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REFERENCES

i
- http://EzineArticles.com/878637
ii
- http://writing.colostate.edu/guides/documents/ce-trpt/pop2a.cfm
iii
- http://www.mindrs.com/mindrs/?p=157
iv
- http://www.blurtit.com/q967425.html
v
- http://www.ayushveda.com/tipson/importance-of-research-before-starting-a-
business/
vi
- http://www.blurtit.com/q299845.html
vii
- http://www.hrpakistan.com

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