Business Research

BUSINESS RESEARCH
Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors. An organized, systematic, database, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it. Research provides the needed information that guides managers to make informed decisions to successfully deal with problems. The information provided could be the result of a careful analysis of data gathered firsthand or of data that are already available (in the company).

Characteristics:
Research originates with a question or problem. Research requires a clear communication of a goal. Research follows a specific plan of procedure. Research usually divides the principal problem into more manageable sub problems. Research is guided by the specific research problem, question, or hypothesis. Research accepts certain critical assumptions. Research requires the collection and interpretation of data in attempting to resolve the problem that initiated the research. Research is, by its nature, cyclical; or more exactly, helical.