When conducting business research managers should design research plan in which they will identify the reason of conducting the research. What they want to decide as a result of the research. Managers should know audiences of the research; upper management, bankers or funders, employees and customers among others. They should know the kind of information required in making decision to enlighten the audiences.
Either the information is required to understand business procedures, the type of customers and type of products they buy, weakness and strengths of products and services, customers’ benefits or how products are failed. When planning to conduct research, managers should know the sources from which information will be conducted and how the information will be conducted in a reasonable fashion (Coldwell and Herbst, 2004, p. 15). Business research is conducted by divided it into two: it can be done either by conducting business to business research or consumer market research.
Consumer market involves buying habit of individual consumers while business to business research involves investigating products which are sold from one business to another. When conducting business research it is divided into various parts which facilitate easy collection of required information making research of help to managers. Business research
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Some research require conceptual framework and research paradigm which is a systematic presentation of theories that support research problem chosen by managers or the reason of conducting the research. There is also part of literature review whereby those conducting research have to consult other sources like books among other publications for more information concerning research problem. The most important part of business research is design and methodology applied in collecting accurate and relevant information.
This part describes how research will be conducted to enable managers to examine the appropriateness of methods and reliability and validity of results after research (Murdick and Cooper, 1999, p. 38) The most important part of business research is presentation, analysis and interpretation of data which provides managers with the appropriate information after research enabling them to make decision in accordance with results. In presentation they are given summary of collected data and results or findings.
On interpretation implications of results in relation to objectives and hypothesis of research are represented enabling managers to be in a position to use this information for decision making. This interpretation cites relevant literature for broader meaning in answering research question which were used in collecting relevant information. In this part managers should evaluate whether the conducted research has helped in resolving problems which attributed to conducting of the research and the significant implications which can be withdrawn from the research (Coldwell and Herbst, 2004, p. 19).
Introduction in business research gives an insight of the problem to be studied but the problem with this part is that, it is brief thus not being exhaustive on full reason of conducting the research. Research hypotheses give insight of research questions. Research objectives should be formulated on basis of research hypotheses. Poor formulation of research hypothesis leads to poor setting of research objectives and questions with research results not being accurate and precise.
This also leads in collecting wrong data resulting to wrong results at the end of the research. In literature review the researcher has to fully gather any relevant information related to the problem of study. Data from other publications is collected. The problem with this part is that the researcher may collect data which is out of date and which is not full related to the area of study giving the wrong information (Coldwell and Herbst, 2004, p. 17).
In conclusion, managers have to certify that the general research has contributed to practical application which can be drawn from research results. Research question chosen is important because it was a well thought-out and focused research question that will lead directly to the hypothesis. This question will help in collecting the relevant data concerning marketing and it will help marketing managers in making decisions concerning their department (Murdick and Cooper, 1999, p. 41).