WHAT IS THE ROLE OF RESEARCH IN BUSINESS?
Research is a process that applies systematic knowledge & procedure to come up with information that answers the questions for which this process was carried out. The data & information are collected by interview or survey or observation as a data collection procedure. Some charts & diagrams are used to present the information found to come to a solution.
The term “research” puts many of the users down because they think it is a heavy duty term! Research is not my cup of tea & so I better stay away from it! But telling you honestly, a research if carried out scientifically can save your day! It actually shows you what you fail to see on the surface level. So let’s begin how research saves a business person:
- What product to come up with is something a survey can show.
- The desire of customers is obtained through a survey which is research.
- Sometimes, startup owners get fixated on any particular idea & can’t think beyond that. An analysis of facts & a talk to the potential customers can provide new ideas. This is a part of the research!
- It is a research-only that can show the number of funds to accumulate & invest for a particular business. Without thorough research & conversation with the related parties, it is not possible to know the amount needed to invest in a business.
- Rivals play a crucial role in updating & developing a business. A study on rivals moves & strategies can reveal their plans & motives.
- Sometimes employees of the business do not work hard & become indifferent to the company’s success or failure. Spending time with them, talking to them, listening to their hidden sorrows or opinions can bring them back in shape. This calls for research to make questions, conducting a survey & coming up with findings.
So these are some ways through which research actually adds value to a business. Do you need research for your business? Are you planning a research methodology? We can assist you to come up with the findings that may change your business for a better future. Just let us know! We are a click away!