importance of the study in business research

The Importance of Business Research: Understanding Its Value for Management Decisions

Table of Contents

If you’re a business owner or manager, you know that making the right decisions can be the difference between success and failure. One of the most valuable tools for making informed decisions is conducting business research. In this blog, we will explore the importance of business research in detail and how it can benefit management decisions.

What is Business Research?

Business research is the process of collecting and analyzing data to support management decision-making. It helps organizations identify and solve problems, make informed decisions, and stay ahead of their competitors.

The Importance of Business Research

Business research plays a crucial role in an organization’s success by providing the following benefits:

1. Identifying Problems and Opportunities

Business research helps to identify the problems and opportunities that exist in a particular market or industry. By conducting research, organizations can identify gaps in the market, unmet customer needs, and areas where they can improve their products or services.

2. Making Informed Decisions

Making informed decisions is crucial for the success of any business. Business research provides the necessary information and insights to make informed decisions. It helps management to evaluate the potential risks and benefits of a particular strategy or decision.

3. Mitigating Risk

Business research helps to mitigate risk by providing information on potential risks and uncertainties. By conducting research, organizations can evaluate the potential risks associated with a particular decision or strategy and take measures to mitigate them.

4. Improving Customer Satisfaction

Business research can help improve customer satisfaction by identifying the needs and preferences of customers. By understanding customer needs, organizations can develop products and services that meet their customers’ needs and preferences.

5. Staying Ahead of Competitors

Business research helps organizations stay ahead of their competitors by providing insights into the market and industry trends. By conducting research, organizations can identify new opportunities and potential threats, develop strategies to capitalize on these opportunities, and stay ahead of their competitors.

In conclusion, business research is an essential tool for making informed decisions, identifying problems and opportunities, mitigating risk, improving customer satisfaction, and staying ahead of competitors. By conducting research, organizations can gain valuable insights into the market and industry trends, which can help them make more informed decisions and ultimately achieve greater success.

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Research Methodology for Management Decisions

1 Research Methodology: An Overview

Meaning of Research
Research Methodology
Research Method
Business Research Method
Types of Research
Importance of business research
Role of research in important areas

2 Steps for Research Process

Research process
Define research problems
Research Problem as Hypothesis Testing
Extensive literature review in research
Development of working hypothesis
Preparing the research design
Collecting the data
Analysis of data
Preparation of the report or the thesis

3 Research Designs

Functions and Goals of Research Design
Characteristics of a Good Design
Different Types of Research Designs
Exploratory Research Design
Descriptive Research Design
Experimental Research Design
Types of Experimental Designs

4 Methods and Techniques of Data Collection

Primary and Secondary Data
Methods of Collecting Primary Data
Merits and Demerits of Different Methods of Collecting Primary Data
Designing a Questionnaire
Pretesting a Questionnaire
Editing of Primary Data
Technique of Interview
Collection of Secondary Data
Scrutiny of Secondary Data

5 Attitude Measurement and Scales

Attitudes, Attributes and Beliefs
Issues in Attitude Measurement
Scaling of Attitudes
Deterministic Attitude Measurement Models: The Guttman Scale
Thurstone’s Equal-Appearing Interval Scale
The Semantic Differential Scale
Summative Models: The Likert Scale
The Q-Sort Technique
Multidimensional Scaling
Selection of an Appropriate Attitude Measurement Scale
Limitations of Attitude Measurement Scales

6 Questionnaire Designing

Introductory decisions
Contents of the questionnaire
Format of the questionnaire
Steps involved in the questionnaire
Structure and Design of Questionnaire
Management of Fieldwork
Ambiguities in the Questionnaire Methods

7 Sampling and Sampling Design

Advantage of Sampling Over Census
Simple Random Sampling
Sampling Frame
Probabilistic As pects of Sampling
Stratified Random Sampling
Other Methods of Sampling
Sampling Design
Non-Probability Sampling Methods

8 Data Processing

Editing of Data
Coding of Data
Classification of Data
Statistical Series
Tables as Data Presentation Devices
Graphical Presentation of Data

9 Statistical Analysis and Interpretation of Data: Nonparametric Tests

One Sample Tests
Two Sample Tests
K Sample Tests

10 Multivariate Analysis of Data

Regression Analysis
Discriminant Analysis
Factor Analysis

11 Ethics in Research

Principles of research ethics
Advantages of research ethics
Limitations of the research ethics
Steps involved in ethics
What are research misconducts?

12 Substance of Reports

Research Proposal
Categories of Report
Reviewing the Draft

13 Formats of Reports

Parts of a Report
Cover and Title Page
Introductory Pages
Reference Section
Typing Instructions
Copy Reading
Proof Reading

14 Presentation of a Report

Communication Dimensions
Presentation Package
Audio-Visual Aids
Presenter’s Poise

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Home Market Research

Business Research: Methods, Types & Examples

Content Index

Business research: Definition

Quantitative research methods, qualitative research methods, advantages of business research, disadvantages of business research, importance of business research.

Business research is a process of acquiring detailed information on all the areas of business and using such information to maximize the sales and profit of the business. Such a study helps companies determine which product/service is most profitable or in demand. In simple words, it can be stated as the acquisition of information or knowledge for professional or commercial purposes to determine opportunities and goals for a business.

Business research can be done for anything and everything. In general, when people speak about business research design , it means asking research questions to know where the money can be spent to increase sales, profits, or market share. Such research is critical to make wise and informed decisions.

LEARN ABOUT: Research Process Steps

For example: A mobile company wants to launch a new model in the market. But they are not aware of what are the dimensions of a mobile that are in most demand. Hence, the company conducts business research using various methods to gather information, and the same is then evaluated, and conclusions are drawn as to what dimensions are most in demand.

This will enable the researcher to make wise decisions to position his phone at the right price in the market and hence acquire a larger market share.

LEARN ABOUT: Test Market Demand

Business research: Types and methodologies

Business research is a part of the business intelligence process. It is usually conducted to determine whether a company can succeed in a new region, to understand its competitors, or simply select a marketing approach for a product. This research can be carried out using steps in qualitative research methods or quantitative research methods.

Quantitative research methods are research methods that deal with numbers. It is a systematic empirical investigation using statistical, mathematical, or computational techniques . Such methods usually start with data collection and then proceed to statistical analysis using various methods. The following are some of the research methods used to carry out business research.

LEARN ABOUT: Data Management Framework

Survey research

Survey research is one of the most widely used methods to gather data, especially for conducting business research. Surveys involve asking various survey questions to a set of audiences through various types like online polls, online surveys, questionnaires, etc. Nowadays, most of the major corporations use this method to gather data and use it to understand the market and make appropriate business decisions.

Various types of surveys, like cross-sectional studies , which need to collect data from a set of audiences at a given point of time, or longitudinal surveys which are needed to collect data from a set of audiences across various time durations in order to understand changes in the respondents’ behavior are used to conduct survey research. With the advancement in technology, surveys can now be sent online through email or social media .

For example: A company wants to know the NPS score for their website i.e. how satisfied are people who are visiting their website. An increase in traffic to their website or the audience spending more time on a website can result in higher rankings on search engines which will enable the company to get more leads as well as increase its visibility.

Hence, the company can ask people who visit their website a few questions through an online survey to understand their opinions or gain feedback and hence make appropriate changes to the website to increase satisfaction.

Learn More: Business Survey Template

Correlational research

Correlational research is conducted to understand the relationship between two entities and what impact each one of them has on the other. Using mathematical analysis methods, correlational research enables the researcher to correlate two or more variables .

Such research can help understand patterns, relationships, trends, etc. Manipulation of one variable is possible to get the desired results as well. Generally, a conclusion cannot be drawn only on the basis of correlational research.

For example: Research can be conducted to understand the relationship between colors and gender-based audiences. Using such research and identifying the target audience, a company can choose the production of particular color products to be released in the market. This can enable the company to understand the supply and demand requirements of its products.

Causal-Comparative research

Causal-comparative research is a method based on the comparison. It is used to deduce the cause-effect relationship between variables. Sometimes also known as quasi-experimental research, it involves establishing an independent variable and analyzing the effects on the dependent variable.

In such research, data manipulation is not done; however, changes are observed in the variables or groups under the influence of the same changes. Drawing conclusions through such research is a little tricky as independent and dependent variables will always exist in a group. Hence all other parameters have to be taken into consideration before drawing any inferences from the research.

LEARN ABOUT: Causal Research

For example: Research can be conducted to analyze the effect of good educational facilities in rural areas. Such a study can be done to analyze the changes in the group of people from rural areas when they are provided with good educational facilities and before that.

Another example can be to analyze the effect of having dams and how it will affect the farmers or the production of crops in that area.

LEARN ABOUT: Market research trends

Experimental research

Experimental research is based on trying to prove a theory. Such research may be useful in business research as it can let the product company know some behavioral traits of its consumers, which can lead to more revenue. In this method, an experiment is carried out on a set of audiences to observe and later analyze their behavior when impacted by certain parameters.

LEARN ABOUT: Behavioral Targeting

For example: Experimental research was conducted recently to understand if particular colors have an effect on consumers’ hunger. A set of the audience was then exposed to those particular colors while they were eating, and the subjects were observed. It was seen that certain colors like red or yellow increase hunger.

Hence, such research was a boon to the hospitality industry. You can see many food chains like Mcdonalds, KFC, etc., using such colors in their interiors, brands, as well as packaging.

Another example of inferences drawn from experimental research, which is used widely by most bars/pubs across the world, is that loud music in the workplace or anywhere makes a person drink more in less time. This was proven through experimental research and was a key finding for many business owners across the globe.

Online research / Literature research

Literature research is one of the oldest methods available. It is very economical, and a lot of information can be gathered using such research. Online research or literature research involves gathering information from existing documents and studies, which can be available at Libraries, annual reports, etc.

Nowadays, with the advancement in technology, such research has become even more simple and accessible to everyone. An individual can directly research online for any information that is needed, which will give him in-depth information about the topic or the organization.

Such research is used mostly by marketing and salespeople in the business sector to understand the market or their customers. Such research is carried out using existing information that is available from various sources. However, care has to be taken to validate the sources from where the information is going to be collected.

For example , a salesperson has heard a particular firm is looking for some solution that their company provides. Hence, the salesperson will first search for a decision maker from the company, investigate what department he is from, and understand what the target company is looking for and what they are into.

Using this research, he can cater his solution to be spot on when he pitches it to this client. He can also reach out to the customer directly by finding a means to communicate with him by researching online.’

LEARN ABOUT: 12 Best Tools for Researchers

Qualitative research is a method that has a high importance in business research. Qualitative research involves obtaining data through open-ended conversational means of communication. Such research enables the researcher to not only understand what the audience thinks but also why he thinks it.

In such research, in-depth information can be gathered from the subjects depending on their responses. There are various types of qualitative research methods, such as interviews, focus groups, ethnographic research, content analysis, and case study research, that are widely used.

Such methods are of very high importance in business research as they enable the researcher to understand the consumer. What motivates the consumer to buy and what does not is what will lead to higher sales, and that is the prime objective for any business.

Following are a few methods that are widely used in today’s world by most businesses.

Interviews are somewhat similar to surveys, like sometimes they may have the same types of questions used. The difference is that the respondent can answer these open-ended questions at length, and the direction of the conversation or the questions being asked can be changed depending on the response of the subject.

Such a method usually gives the researcher detailed information about the perspective or opinions of its subject. Carrying out interviews with subject matter experts can also give important information critical to some businesses.

For example: An interview was conducted by a telecom manufacturer with a group of women to understand why they have less number of female customers. After interviewing them, the researcher understood that there were fewer feminine colors in some of the models, and females preferred not to purchase them.

Such information can be critical to a business such as a telecom manufacturer and hence it can be used to increase its market share by targeting women customers by launching some feminine colors in the market.

Another example would be to interview a subject matter expert in social media marketing. Such an interview can enable a researcher to understand why certain types of social media advertising strategies work for a company and why some of them don’t.

LEARN ABOUT: Qualitative Interview

Focus groups

Focus groups are a set of individuals selected specifically to understand their opinions and behaviors. It is usually a small set of a group that is selected keeping in mind the parameters for their target market audience to discuss a particular product or service. Such a method enables a researcher with a larger sample than the interview or a case study while taking advantage of conversational communication.

Focus group is also one of the best examples of qualitative data in education . Nowadays, focus groups can be sent online surveys as well to collect data and answer why, what, and how questions. Such a method is very crucial to test new concepts or products before they are launched in the market.

For example: Research is conducted with a focus group to understand what dimension of screen size is preferred most by the current target market. Such a method can enable a researcher to dig deeper if the target market focuses more on the screen size, features, or colors of the phone. Using this data, a company can make wise decisions about its product line and secure a higher market share.

Ethnographic research

Ethnographic research is one of the most challenging research but can give extremely precise results. Such research is used quite rarely, as it is time-consuming and can be expensive as well. It involves the researcher adapting to the natural environment and observing its target audience to collect data. Such a method is generally used to understand cultures, challenges, or other things that can occur in that particular setting.

For example: The world-renowned show “Undercover Boss” would be an apt example of how ethnographic research can be used in businesses. In this show, the senior management of a large organization works in his own company as a regular employee to understand what improvements can be made, what is the culture in the organization, and to identify hard-working employees and reward them.

It can be seen that the researcher had to spend a good amount of time in the natural setting of the employees and adapt to their ways and processes. While observing in this setting, the researcher could find out the information he needed firsthand without losing any information or any bias and improve certain things that would impact his business.

LEARN ABOUT: Workforce Planning Model

Case study research

Case study research is one of the most important in business research. It is also used as marketing collateral by most businesses to land up more clients. Case study research is conducted to assess customer satisfaction and document the challenges that were faced and the solutions that the firm gave them.

These inferences are made to point out the benefits that the customer enjoyed for choosing their specific firm. Such research is widely used in other fields like education, social sciences, and similar. Case studies are provided by businesses to new clients to showcase their capabilities, and hence such research plays a crucial role in the business sector.

For example: A services company has provided a testing solution to one of its clients. A case study research is conducted to find out what were the challenges faced during the project, what was the scope of their work, what objective was to be achieved, and what solutions were given to tackle the challenges.

The study can end with the benefits that the company provided through its solutions, like reduced time to test batches, easy implementation or integration of the system, or even cost reduction. Such a study showcases the capability of the company, and hence it can be stated as empirical evidence of the new prospect.

Website visitor profiling/research

Website intercept surveys or website visitor profiling/research is something new that has come up and is quite helpful in the business sector. It is an innovative approach to collect direct feedback from your website visitors using surveys. In recent times a lot of business generation happens online, and hence it is important to understand the visitors of your website as they are your potential customers.

Collecting feedback is critical to any business, as without understanding a customer, no business can be successful. A company has to keep its customers satisfied and try to make them loyal customers in order to stay on top.

A website intercept survey is an online survey that allows you to target visitors to understand their intent and collect feedback to evaluate the customers’ online experience. Information like visitor intention, behavior path, and satisfaction with the overall website can be collected using this.

Depending on what information a company is looking for, multiple forms of website intercept surveys can be used to gather responses. Some of the popular ones are Pop-ups, also called Modal boxes, and on-page surveys.

For example: A prospective customer is looking for a particular product that a company is selling. Once he is directed to the website, an intercept survey will start noting his intent and path. Once the transaction has been made, a pop-up or an on-page survey is provided to the customer to rate the website.

Such research enables the researcher to put this data to good use and hence understand the customers’ intent and path and improve any parts of the website depending on the responses, which in turn would lead to satisfied customers and hence, higher revenues and market share.

LEARN ABOUT: Qualitative Research Questions and Questionnaires

Business research helps to identify opportunities and threats.
It helps identify research problems , and using this information, wise decisions can be made to tackle the issue appropriately.
It helps to understand customers better and hence can be useful to communicate better with the customers or stakeholders.
Risks and uncertainties can be minimized by conducting business research in advance.
Financial outcomes and investments that will be needed can be planned effectively using business research.
Such research can help track competition in the business sector.
Business research can enable a company to make wise decisions as to where to spend and how much.
Business research can enable a company to stay up-to-date with the market and its trends, and appropriate innovations can be made to stay ahead in the game.
Business research helps to measure reputation management
Business research can be a high-cost affair
Most of the time, business research is based on assumptions
Business research can be time-consuming
Business research can sometimes give you inaccurate information because of a biased population or a small focus group.
Business research results can quickly become obsolete because of the fast-changing markets

Business research is one of the most effective ways to understand customers, the market, and competitors. Such research helps companies to understand the demand and supply of the market. Using such research will help businesses reduce costs and create solutions or products that are targeted to the demand in the market and the correct audience.

In-house business research can enable senior management to build an effective team or train or mentor when needed. Business research enables the company to track its competitors and hence can give you the upper hand to stay ahead of them.

Failures can be avoided by conducting such research as it can give the researcher an idea if the time is right to launch its product/solution and also if the audience is right. It will help understand the brand value and measure customer satisfaction which is essential to continuously innovate and meet customer demands.

This will help the company grow its revenue and market share. Business research also helps recruit ideal candidates for various roles in the company. By conducting such research, a company can carry out a SWOT analysis , i.e. understand the strengths, weaknesses, opportunities, and threats. With the help of this information, wise decisions can be made to ensure business success.

LEARN ABOUT: Market research industry

Business research is the first step that any business owner needs to set up his business to survive or to excel in the market. The main reason why such research is of utmost importance is that it helps businesses to grow in terms of revenue, market share, and brand value.

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Home » Significance of the Study – Examples and Writing Guide

Significance of the Study – Examples and Writing Guide

Table of Contents

Significance of the Study

Definition:

Significance of the study in research refers to the potential importance, relevance, or impact of the research findings. It outlines how the research contributes to the existing body of knowledge, what gaps it fills, or what new understanding it brings to a particular field of study.

In general, the significance of a study can be assessed based on several factors, including:

Originality : The extent to which the study advances existing knowledge or introduces new ideas and perspectives.
Practical relevance: The potential implications of the study for real-world situations, such as improving policy or practice.
Theoretical contribution: The extent to which the study provides new insights or perspectives on theoretical concepts or frameworks.
Methodological rigor : The extent to which the study employs appropriate and robust methods and techniques to generate reliable and valid data.
Social or cultural impact : The potential impact of the study on society, culture, or public perception of a particular issue.

Types of Significance of the Study

The significance of the Study can be divided into the following types:

Theoretical Significance

Theoretical significance refers to the contribution that a study makes to the existing body of theories in a specific field. This could be by confirming, refuting, or adding nuance to a currently accepted theory, or by proposing an entirely new theory.

Practical Significance

Practical significance refers to the direct applicability and usefulness of the research findings in real-world contexts. Studies with practical significance often address real-life problems and offer potential solutions or strategies. For example, a study in the field of public health might identify a new intervention that significantly reduces the spread of a certain disease.

Significance for Future Research

This pertains to the potential of a study to inspire further research. A study might open up new areas of investigation, provide new research methodologies, or propose new hypotheses that need to be tested.

How to Write Significance of the Study

Here’s a guide to writing an effective “Significance of the Study” section in research paper, thesis, or dissertation:

Background : Begin by giving some context about your study. This could include a brief introduction to your subject area, the current state of research in the field, and the specific problem or question your study addresses.
Identify the Gap : Demonstrate that there’s a gap in the existing literature or knowledge that needs to be filled, which is where your study comes in. The gap could be a lack of research on a particular topic, differing results in existing studies, or a new problem that has arisen and hasn’t yet been studied.
State the Purpose of Your Study : Clearly state the main objective of your research. You may want to state the purpose as a solution to the problem or gap you’ve previously identified.
Contributes to the existing body of knowledge.
Addresses a significant research gap.
Offers a new or better solution to a problem.
Impacts policy or practice.
Leads to improvements in a particular field or sector.
Identify Beneficiaries : Identify who will benefit from your study. This could include other researchers, practitioners in your field, policy-makers, communities, businesses, or others. Explain how your findings could be used and by whom.
Future Implications : Discuss the implications of your study for future research. This could involve questions that are left open, new questions that have been raised, or potential future methodologies suggested by your study.

Significance of the Study in Research Paper

The Significance of the Study in a research paper refers to the importance or relevance of the research topic being investigated. It answers the question “Why is this research important?” and highlights the potential contributions and impacts of the study.

The significance of the study can be presented in the introduction or background section of a research paper. It typically includes the following components:

Importance of the research problem: This describes why the research problem is worth investigating and how it relates to existing knowledge and theories.
Potential benefits and implications: This explains the potential contributions and impacts of the research on theory, practice, policy, or society.
Originality and novelty: This highlights how the research adds new insights, approaches, or methods to the existing body of knowledge.
Scope and limitations: This outlines the boundaries and constraints of the research and clarifies what the study will and will not address.

Suppose a researcher is conducting a study on the “Effects of social media use on the mental health of adolescents”.

The significance of the study may be:

“The present study is significant because it addresses a pressing public health issue of the negative impact of social media use on adolescent mental health. Given the widespread use of social media among this age group, understanding the effects of social media on mental health is critical for developing effective prevention and intervention strategies. This study will contribute to the existing literature by examining the moderating factors that may affect the relationship between social media use and mental health outcomes. It will also shed light on the potential benefits and risks of social media use for adolescents and inform the development of evidence-based guidelines for promoting healthy social media use among this population. The limitations of this study include the use of self-reported measures and the cross-sectional design, which precludes causal inference.”

Significance of the Study In Thesis

The significance of the study in a thesis refers to the importance or relevance of the research topic and the potential impact of the study on the field of study or society as a whole. It explains why the research is worth doing and what contribution it will make to existing knowledge.

For example, the significance of a thesis on “Artificial Intelligence in Healthcare” could be:

With the increasing availability of healthcare data and the development of advanced machine learning algorithms, AI has the potential to revolutionize the healthcare industry by improving diagnosis, treatment, and patient outcomes. Therefore, this thesis can contribute to the understanding of how AI can be applied in healthcare and how it can benefit patients and healthcare providers.
AI in healthcare also raises ethical and social issues, such as privacy concerns, bias in algorithms, and the impact on healthcare jobs. By exploring these issues in the thesis, it can provide insights into the potential risks and benefits of AI in healthcare and inform policy decisions.
Finally, the thesis can also advance the field of computer science by developing new AI algorithms or techniques that can be applied to healthcare data, which can have broader applications in other industries or fields of research.

Significance of the Study in Research Proposal

The significance of a study in a research proposal refers to the importance or relevance of the research question, problem, or objective that the study aims to address. It explains why the research is valuable, relevant, and important to the academic or scientific community, policymakers, or society at large. A strong statement of significance can help to persuade the reviewers or funders of the research proposal that the study is worth funding and conducting.

Here is an example of a significance statement in a research proposal:

Title : The Effects of Gamification on Learning Programming: A Comparative Study

Significance Statement:

This proposed study aims to investigate the effects of gamification on learning programming. With the increasing demand for computer science professionals, programming has become a fundamental skill in the computer field. However, learning programming can be challenging, and students may struggle with motivation and engagement. Gamification has emerged as a promising approach to improve students’ engagement and motivation in learning, but its effects on programming education are not yet fully understood. This study is significant because it can provide valuable insights into the potential benefits of gamification in programming education and inform the development of effective teaching strategies to enhance students’ learning outcomes and interest in programming.

Examples of Significance of the Study

Here are some examples of the significance of a study that indicates how you can write this into your research paper according to your research topic:

Research on an Improved Water Filtration System : This study has the potential to impact millions of people living in water-scarce regions or those with limited access to clean water. A more efficient and affordable water filtration system can reduce water-borne diseases and improve the overall health of communities, enabling them to lead healthier, more productive lives.

Study on the Impact of Remote Work on Employee Productivity : Given the shift towards remote work due to recent events such as the COVID-19 pandemic, this study is of considerable significance. Findings could help organizations better structure their remote work policies and offer insights on how to maximize employee productivity, wellbeing, and job satisfaction.

Investigation into the Use of Solar Power in Developing Countries : With the world increasingly moving towards renewable energy, this study could provide important data on the feasibility and benefits of implementing solar power solutions in developing countries. This could potentially stimulate economic growth, reduce reliance on non-renewable resources, and contribute to global efforts to combat climate change.

Research on New Learning Strategies in Special Education : This study has the potential to greatly impact the field of special education. By understanding the effectiveness of new learning strategies, educators can improve their curriculum to provide better support for students with learning disabilities, fostering their academic growth and social development.

Examination of Mental Health Support in the Workplace : This study could highlight the impact of mental health initiatives on employee wellbeing and productivity. It could influence organizational policies across industries, promoting the implementation of mental health programs in the workplace, ultimately leading to healthier work environments.

Evaluation of a New Cancer Treatment Method : The significance of this study could be lifesaving. The research could lead to the development of more effective cancer treatments, increasing the survival rate and quality of life for patients worldwide.

When to Write Significance of the Study

The Significance of the Study section is an integral part of a research proposal or a thesis. This section is typically written after the introduction and the literature review. In the research process, the structure typically follows this order:

Title – The name of your research.
Abstract – A brief summary of the entire research.
Introduction – A presentation of the problem your research aims to solve.
Literature Review – A review of existing research on the topic to establish what is already known and where gaps exist.
Significance of the Study – An explanation of why the research matters and its potential impact.

In the Significance of the Study section, you will discuss why your study is important, who it benefits, and how it adds to existing knowledge or practice in your field. This section is your opportunity to convince readers, and potentially funders or supervisors, that your research is valuable and worth undertaking.

Advantages of Significance of the Study

The Significance of the Study section in a research paper has multiple advantages:

Establishes Relevance: This section helps to articulate the importance of your research to your field of study, as well as the wider society, by explicitly stating its relevance. This makes it easier for other researchers, funders, and policymakers to understand why your work is necessary and worth supporting.
Guides the Research: Writing the significance can help you refine your research questions and objectives. This happens as you critically think about why your research is important and how it contributes to your field.
Attracts Funding: If you are seeking funding or support for your research, having a well-written significance of the study section can be key. It helps to convince potential funders of the value of your work.
Opens up Further Research: By stating the significance of the study, you’re also indicating what further research could be carried out in the future, based on your work. This helps to pave the way for future studies and demonstrates that your research is a valuable addition to the field.
Provides Practical Applications: The significance of the study section often outlines how the research can be applied in real-world situations. This can be particularly important in applied sciences, where the practical implications of research are crucial.
Enhances Understanding: This section can help readers understand how your study fits into the broader context of your field, adding value to the existing literature and contributing new knowledge or insights.

Limitations of Significance of the Study

The Significance of the Study section plays an essential role in any research. However, it is not without potential limitations. Here are some that you should be aware of:

Subjectivity: The importance and implications of a study can be subjective and may vary from person to person. What one researcher considers significant might be seen as less critical by others. The assessment of significance often depends on personal judgement, biases, and perspectives.
Predictability of Impact: While you can outline the potential implications of your research in the Significance of the Study section, the actual impact can be unpredictable. Research doesn’t always yield the expected results or have the predicted impact on the field or society.
Difficulty in Measuring: The significance of a study is often qualitative and can be challenging to measure or quantify. You can explain how you think your research will contribute to your field or society, but measuring these outcomes can be complex.
Possibility of Overstatement: Researchers may feel pressured to amplify the potential significance of their study to attract funding or interest. This can lead to overstating the potential benefits or implications, which can harm the credibility of the study if these results are not achieved.
Overshadowing of Limitations: Sometimes, the significance of the study may overshadow the limitations of the research. It is important to balance the potential significance with a thorough discussion of the study’s limitations.
Dependence on Successful Implementation: The significance of the study relies on the successful implementation of the research. If the research process has flaws or unexpected issues arise, the anticipated significance might not be realized.

About the author

Muhammad Hassan

Researcher, Academic Writer, Web developer

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Business research: types, benefits, and its importance.

Business research is a process of obtaining a detailed study of all the business areas including the market and the customers and using that information to maximize the sales & profit of the business.

When you run a business, there are several things you can research on. You research everything from market shares to sales. Business research helps you make intelligent and informed decisions and identify the key areas to invest your money in.

For example, an automobile company plans to unveil the latest car model in the market. For that, they need to develop strategies to explore and monitor customer demand. So, the company will conduct research to collect information and analyze market trends. This will help them draw better conclusions and come up with a fine quality car at the right price resulting in a larger market share.

Types of Business Research

Researchers use various research methods to collect relevant data so that business enterprises can make wiser decisions. There are two main types of methods to carry out business research.

Quantitative Business Research It is a method of analyzing the largest group that meets your target goals. It uses mathematical techniques and data to explain the important stats about your business and market. Usually, this data uses multiple-choice questionnaires that can help you be profitable with your sales. For instance, quantitative research can answer questions such as;
Are your customers aware of the services or products you offer?
How many people are interested in buying your products or services?
Who are your best customers and what are their buying habits?
How long the visitor stays on your website, and which is their exit page?

The result of quantitative business research is in the numerical form, such as;

40% of customers rate the new product as “attractive”
70% of prospective customers use the Internet to book their hotel room
6 out of 10 customers will buy a new food product after trying the free in-store sample

The quantitative research methods include various surveys such as postal, telephone, online, and face-to-face.

Qualitative Business Research

This business research focuses on attitudes, intentions, and beliefs. Qualitative research includes questions such as “Why”? or “How?”.

The aim of this research is to gain insights into customers’ distinct behaviors and response to a new product. This research is beneficial for your new products and marketing initiatives to test reactions and rectify your approach.

You can collect qualitative data using common methods such as case studies, focus groups, and interviews. This data is often valuable but can be time-consuming and expensive to collect, especially for a small business or a startup.

Benefits of Business Research

Business Research helps you communicate with current and potential customers in a better way.
It helps you identify opportunities and threats in the marketplace.
It helps you minimize risks.
Business research is used to plan investments and financial outcomes effectively.
It helps you build a better market position.
It can keep you updated with current trends and innovations in the market.

Why is Business Research Important?

Business research helps businesses understand their customers’ buying patterns, preferences and pain points, gain deeper insights into the contenders, current market trends, and demographics. Using effective strategies to understand the demand and supply of the market, businesses can always stay ahead of the competition. Using business research, they can reduce costs and design solutions that aim at the market demand and their target audience.

Chances of failures are less with business research as it gives an idea of the target customers and the perfect time to launch a product. In addition, with a deep understanding of brand value, businesses can constantly innovate to meet customer requirements. This is essential to grow market share and revenue. The SWOT analysis in business research is crucial to make an informed decision and making the business a huge success.

Research is the building block of any business. It acts as a catalyst to thrive in the market. So, never underestimate the value of market research and leverage its benefits to give an extra edge to your business.

Authors Bio: Ritesh Patil is the co-founder of Mobisoft Infotech that helps startups and enterprises in mobile technology. He loves technology, especially mobile technology. He’s an avid blogger and writes on the mobile application. He works in a leading mobile app development company with skilled iOS and Android app developers.

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Business Research: Types, Methods, Examples

Updated on
Jan 29, 2024

Ever wondered what it takes to build a flourishing business ? Aiming to provide maximum sales and profit, business research helps you to gather comprehensive information about your business and accordingly make relevant changes if required. So, in this process of being successful, we gather all types of data to better define our strategies and understand what products or services customers want. And in case, you’re planning to expand your business, research can help you determine your odds of positive results. In this blog, we’ll help you understand the basics of research and analysis .

“Whoever gets closer to the customer, wins.” – Bernadette Jiwa

This Blog Includes:

What is business research, business research example, importance of business research, types & methods, focus groups , case study research , ethnographic research, survey , correlation research , experimental research , advantages and disadvantages of business research, scope of business research, role of business research, business research books, business research report, top 10 tools for business research, business research partners, top 10 business research topics, career prospects , [bonus] best mba colleges in the world.

Business Research can be simply defined as a process of gathering comprehensive data and information on all the areas of business and incorporating this information for sales and profit maximization. If you are wondering what is Business Research, it is a systematic management activity helping companies to determine which product will be most profitable for companies to produce. Also, there are multiple steps in conducting research, with each thoroughly reviewed to ensure that the best decision is made for the company as a whole.

Also Read: Scope of MBA in International Business

Let’s say there’s an automobile company that is planning to launch a car that runs on CNG. To promote cleaner fuel, the company will be involved in developing different plans and strategies to identify the demand for the car they intend to launch. Other than this, the company will also look for competitors, and the target audience, keeping in mind the distribution of CNG in India. Hence the research is conducted on various ideas to formulate a sustainable and more efficient design.

When it comes to the question of why Business Research is important, it has an essential role to play in varied areas of business. Here are some of the reasons describing the importance of Business Research:

It helps businesses gain better insights into their target customer’s preferences, buying patterns, pain points, as well as demographics.
Business Research also provides businesses with a detailed overview of their target markets, what’s in trend, as well as market demand.
By studying consumers’ buying patterns and preferences as well as market trends and demands with the help of business research, businesses can effectively and efficiently curate the best possible plans and strategies accordingly.
The importance of business research also lies in highlighting the areas where unnecessary costs can be minimized and those areas in a business which need more attention and can bring in more customers and hence boost profits.
Businesses can constantly innovate as per their customers’ preferences and interests and keep their attention on the brand.
Business Research also plays the role of a catalyst as it helps businesses thrive in their markets by capturing all the available opportunities and also meeting the needs and preferences of their customers.

Also Read: Business Analyst vs Data Analyst

Business research plays an important role in the business intelligence process. This is usually conducted to determine if a company can succeed in a new region through competitive analyses and a better marketing approach. Due to this, this broad field has been distinguished into two types namely, Qualitative Research and Quantitative Research Method.

Here are the most important types of Business Research :

Qualitative Research Methods

It involves putting open-ended questions to the audience through different channels of communication to understand why researchers think in a particular manner. Stress is laid on understanding the intent, attitude, and beliefs to figure out the behaviour and response of the customers. Moreover, the goal of Qualitative Business Research is to get in-depth knowledge about the subjects of the research. Moreover, qualitative research enables us to put the perspective of the consumer in front of the researcher so that we can understand and see the alignment of the ideas between the market and the business.

The data collected in this type of business research is by the following methods:

Interviews
Case Study
Ethnographic Research
Website Visitor Profiling
Content Analysis

Also Read: Study MBA in Music Business at Berklee College of Music!

Let us take a detailed look at some of the ways-

Interviews and surveys are similar. The only difference lies in the fact that the responder can put a question in an interview whilst it is not possible during a survey. Through interviews, it is easier to understand the detailed perspective of the person concerning the subject of research. A mobile brand researched to understand why certain colours are preferred by male and female customers. The research revealed that since red is assumed to be a feminine colour, it is more preferred by females than males.

Focus groups are a type of business research that involves only a set of individuals. Each selected individual represents a particular category of the target market. The major difference between interviews and focus groups is the number of people that it involves. To launch a new product for a particular group of society, focus groups prove to be the best way to understand the needs of the local audience.

For example, Tesla decides to launch their latest car model in India. The company, therefore, will require feedback from the Indian audience only.

Did you know? Amazon, the internet giant changed its payment strategy to enter the Indian market. Since the Indian economy was not entirely ready for online modes of payment, amazon introduced a new payment method and came up with ‘ cash on delivery ’ to gain consumers’ trust.

One of the most effective ways for business research is conducting case studies. With the motive to understand customer satisfaction, challenges that usually the customers face while using the product and hence, providing them with the right solution can be achieved by analysing data secured through data secured by case studies. Case study researchers are conducted in many fields of business that ultimately aid organisations in improving their products or services.

Ethnographic Research refers to understanding people as a whole. One must be able to grok their consumers or target audience which will help identify patterns, flaws, etc. Ethnography is a branch of anthropology that is the study of what elements or features make us humans. How did people live? What aspect made us so dependent on smartphones and technology? Why would people buy one product over the other? It refers to asking questions about lifestyle, communities, etc., and trying to gain insight into consumer behaviour and buying patterns.

For example, consider a random product. Are people looking for that product? Do they need it? Is it a necessity or a luxury? Which class of people are most likely to buy it? People often cannot comprehend what they are looking for. Gaining different perceptions can help us tailor our products accordingly to the consumers. Who would have thought that the majority of humans will need face masks for survival?

Also Read: How to Become a Research Analyst?

Quantitative Research Methods

With the employment of mathematical, statistical and computational techniques, quantitative research is carried out to deal with numbers. This systematical empirical investigation starts with the acquisition of the data and then moves on to analyzing it with the help of different tools. The goal is to identify clientele and then meet the targets of the audience. As the method of business research employs a questionnaire to determine the audience’s response, the questions are built around the idea that the audience knows about the product or the services that the firm offers. Some of the key questions answered in quantitative research methods include, who is connected with your network, how they qualify for the ‘product’ or how regularly they visit your website.

The data is collected based on the following research:

Correlational
Online
Casual Comparative
Experimental

It is the most common method under quantitative research via which a huge amount of data can be collected concerning a product or service. A common set of questions are asked to the people and they are asked to provide their inputs. To understand the nature of the market in-depth, this method is massively used by leading organisations all across the globe. Analysing data recorded through service helps organisations make suitable decisions.

Under this research, usually two entities are put together to examine the impact they create on each other. As suggested by the name it is the best process to understand patterns, relationships and trends. the data grasped through correlation research is generally combined with other tools as one cannot achieve a firm conclusion using this type of business research.

Experimental research is purely based on proving a particular theory that is pre-assumed. True experimental research companies can understand varied behavioural traits of the customers that further assist them in generating more revenue. Exposing a set of audience to common parameters, their behaviour is recorded and hence analysed. This can be understood as the main basis of the experimental research.

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Doing Research in Business and Management: An Essential Guide to Planning Your Project

Management Decision

ISSN : 0025-1747

Article publication date: 21 June 2013

Berbegal‐Mirabent, J. (2013), "Doing Research in Business and Management: An Essential Guide to Planning Your Project", Management Decision , Vol. 51 No. 6, pp. 1311-1316. https://doi.org/10.1108/MD-06-2012-0505

Emerald Group Publishing Limited

“Publish or perish”. We've all heard this expression referring to the need academic, but especially PhD students and young academics have to make their research results public in order to promote and improve their contractual position, consolidating their careers. Nevertheless, it is also well‐known that this is a long‐distance race conditioned to the capacity to publish the research findings.

This means that students whether undergraduate, postgraduate or enrolled in a PhD programme need to develop their research knowledge from the very begging in order to refine their writing skills, paying attention to a large list of details and requirements which may vary from one situation to another. Indeed, academics invest innumerable hours and resources in writing their research results to succeed when submitting them to a peer‐reviewed journal. Therefore, it is not surprising that planning and writing a research project is often considered by inexperienced students as a challenging, time‐consuming and a demanding task. Yet, despite all these constraints, writing up the findings in a form that can be published and read for others, constitutes a very rewarding effort.

Emerging from the necessity to instruct students in acquiring the appropriate skills and abilities to effectively complete a research project, many courses are now incorporating a research module in their syllabuses as a mean to improve students' probabilities to succeed when doing so.

The editorial industry has also echoed these concerns and demands in the recent years, leading to the flowering of a large number of books and manuals addressing this issue (i.e. Bryman and Bell, 2011 ; Cooper and Schindler, 2011 ; Creswell, 2009 ; Flick, 2011 ; Sekaran, 2010 ). One of the most compelling books tackling this problem is Doing Research in Business and Management: An Essential Guide to Planning Your Project , written by Saunders and Lewis and published in 2012 by Pearson Education Limited.

Saunders and Lewis are experienced professors in teaching research methods in the fields of Business and Management. Indeed, they have published several books offering guidelines for students that need to conduct and produce a competent piece of research. According to the authors it is now fourteen years since their first book on research methods was printed. In 2009 the fifth edition was published ( Saunders et al. , 2009 ) and due to its popularity and good acceptance among academics and students they are now presenting this new and updated approach, providing a detailed coverage of all the relevant aspects (both theoretical and empirical) that may face students when carrying out a research project.

Combining their years of academic practice and their vast practical experience, with this book Andersen and Lewis aim at providing, in an accessible and friendly manner, some assistance to students and early career individuals who need to undertake an assessed research project by means of a written project report. This way, Doing Research in Business and Management provides a comprehensive and holistic overview of how to develop quality research in the fields of business and management, offering a detailed coverage of the relevant research approaches and methods used in these disciplines, and bringing together the essential components of the process of writing up a research project.

The authors take the reader through all the major stages involved in this process, introducing the different contexts and purposes that may guide a research project, as well as highlighting the key methods, strategies, tactics, programmes and processes that are recurrent in a management and business research context.

One noteworthy aspect of this book is that it takes extraordinary care to focus the reader on the logic and techniques of research methods using an accurate but simple language, that is, bearing in mind that the targeted audience is inexperienced students on undergraduate and postgraduate degree programmes in business, management or related disciplines, that may not yet be familiar with the language and style required by the scientific community. Therefore, employing a concise, highly accessible style and a logical structure, this book enables students that face for their first time the challenge of writing a research project to understand the practical relevance of research methods on business and management research. It also discusses the interrelationships of theoretical and empirical research, how these apply to practice, and the most recurrent software packages available in the market.

An important feature of this book is its clear structure and ease of reading. Furthermore, within each chapter, the use of illustrations, contemporary examples and key research terms placed in definition boxes to demystify their meaning, helps breaking up the text and brings it to life due to the practical perspective adopted. Certainly, it is presented in a logical and structured manner, organising the content in eight chapters that correspond to eight stages of the process of writing a research project.

Although the chapters follow a sequential order, the authors have written them in such a way that they stand alone, so any chapter in isolation make sense of it. Therefore, it is not necessary to read this book progressively from Chapter 1 through to Chapter 8, but allow readers to select those chapters that really match with their needs.

Each chapter follows a similar structure, starting with a brief summary that gives some ideas of the content and the approach adopted to afford the topic discussed (“Why read this chapter?”). Also each chapter contains a set of different examples to illustrate, from a practical point of view, some of the points addressed in the chapter (“Research in practice”). Every chapter ends with a “Thinking about” section, where the content is summarised in the form of concise and succinct bullets, and where authors make some suggestions on how to reinforce the contents learned.

Revising each chapter individually, Chapter 1 starts with some preliminary considerations on what is meant by a research process. Conducting research is something more than writing the findings using a formal language and a specific structure. It means to embark on a journey of discovery, where researchers have the chance to express their skills and resourcefulness demonstrating their abilities to carry out research projects of high quality.

Given these initial thoughts, Chapter 1 is then entirely devoted to the first matter academics come across: the selection of the research topic. As any process, a research project starts with the choice of a research theme. This is an issue entailing an extraordinary significance as the student/researcher should have to live with and live for, perhaps for a considerable period of time. Thus, it is important that the research topic matches with his/her expectations and motivations, contributing to the development of his/her personal skills and strengths, rather than being imposed by a supervisor.

The chapter follows with the main difficulties students face when choosing the research topic, and suggests novel ways in which to generate ideas, including for instance the use of relevant literature in the field to identify gaps that may constitute new research avenues. Discussions with friends and lecturers or drawing a concept map, are also listed as intermediate steps that may help filtering ideas, moving from the general to the specific question.

In the latter part of the chapter the authors focus on how to turn an idea into a research topic. At this point Sanders and Lewis recommend the use of the Russian doll principle ( Clough and Nutbrown, 2008 ), consisting of breaking down from the original statement to something which strips away all the complicated layers and obscurities until the heart of the question, in a similar fashion as the Russian doll is taken apart to reveal a tiny doll at the centre (p. 21).

Chapter 2 focuses on the subject of the literature review. A literature review is a very hard and time‐consuming process, as it should discuss relevant previous work and provide a comprehensive review of the major findings in the current area of study. This section is mandatory for any research project as it allows the researcher to demonstrate the need for a new study and that he/she has the appropriate background. Moreover, knowing what is known, it comes out easier to state what is still unknown, facilitating the identification of the gaps in the current understanding of the field, and making it simply to justify the research question(s) underlying the research and the context in which the study is going to be performed.

Thus, in this chapter the authors explain what constitutes an effective critical literature review, giving some ideas on how to start writing it and how to organise ideas and findings in a coherent logical argument.

A careful selection of the references to support statements and previous research findings is essential. In this sense, the authors make explicit differentiation of the main types and sources of literature available. A detailed description of the process of searching for obtaining the relevant literature is then provided, emphasising the use of an abstract to assess likely use of an article.

In accordance with the Harvard College Library (2006) , the authors also suggest that while reading, it is extremely important to take notes, summarise findings, compare information and contrast results. Likewise, they emphasise that a good literature review can lead to interesting insights into possible ways of collecting and analysing data.

Chapter 3 is concerned with how to manage the research process, focusing on four main aspects. First, questioning how to manage respondents, that is, how to access organisations for data collection. Here a set of six strategies are listed. Second, the authors focus on how to manage oneself in terms of keeping up the motivation, organising time and resources, and keeping in touch with individuals who may provide insightful comments on the work in progress. The relationship with the supervisor is believed to be indispensable, as he/she is expected to give advice at every stage of the process. But in order to succeed in this relationship, students are asked to report in a regular basis the partial results throughout the entire length of the project. A fourth issue deals with the management of the university context, that is, how to fit with the regulations, specific norms and other requirements imposed by the university. Paying special attention to the assessment criteria is also essential in order to guarantee that the research outcomes fulfil the requirements.

This chapter ends with a section covering the subject of research ethics, pointing out the key ethical principles and responsibilities that should be taken into account and that apply to all stages of any research process. This topic has perhaps been underexplored in the management and business literature; however it seems that it is now increasingly entering into the agendas of many academics ( Academy of Management, n.d. ; Frechtling and Boo, 2012 ; Payne, 2000 )).

Chapter 4 begins with a definition of what is meant by secondary data. A full definition is given, differentiating between qualitative and quantitative data and the possible transformation processes data may have suffered. Figure 4.1 (page 86) exhaustively summarises potential forms of secondary data according to their nature.

In this chapter the authors discuss the potential of using secondary data as a method for accessing large datasets and saving time and money, as they can often be found in the public domain as a result of the growth of the Internet. Nevertheless, secondary data also presents some pitfalls. For instance the authors emphasise that data are not always value‐neutral or only meet research needs partially. Although data available are rich and allows the creation of reliable variables, it is relevant to question whether the selected variables represent the core influential factors that match with the exact requirements of the study. The chapter ends with a list of some gateways to secondary data sources that are relevant for its broad scope and content.

Chapter 5 is entirely devoted to research strategy and design. Using the research onion metaphor presented in the authors' previous work ( Saunders et al. , 2009 ), Saunders and Lewis illustrate the different stages that conform the research process. Techniques and procedures for data collection and analysis are placed in the centre of the onion. As we move away from the centre we found the intermediate layers, where the strategies and choices have to be selected. Finally, the outer layers consider the research philosophies and approaches that embody the research. Building on this approach, the different layers of the onion are presented and complemented with readable examples. Definitions are also given, clarifying some terms that may be unknown for the freshman student, for instance, differences between inductive and deductive approaches, and alternative types of studies (exploratory, descriptive and explanatory).

This chapter also includes a section devoted to the description of different strategies that students may use in their attempt to answer their research question(s). Some useful insights are given on the use of experiments, surveys, case studies, action research methods, ethnography studies, grounded theory, archival research methods or the combination of any of the above. Although the aim of this book is not to in‐depth in the technical specifications behind these strategies, Saunders and Lewis provide the reader with the main features characterising each method. Further information on these approaches may be accompanied with the reading of the specific literature on each particular topic, such as Yin (2009) for case studies; the book of Berg and Lune (2008) with two chapters entirely focused on action research methods and ethnography studies; Corbin and Strauss (2008) and their approach to the grounded theory; or Ventresca and Mohr (2002) studying archival research methods. Correspondingly, the books of Miles and Huberman (1994) and Marshall and Rossman (2010) offer an exhaustive review of all aspects related to qualitative data analysis.

Chapter 6 pays attention to the methods used to collect data. The uses of different techniques and statistical procedures to obtain a sample that satisfies the research requirements, or how to draft an effective questionnaire, are some of the issues addressed in this chapter.

Part of this chapter is devoted to the importance of using a pilot test with a small group of respondents in order to corroborate the validity of a test/questionnaire before launching it to the whole sample. The chapter ends with some guidelines on how to successfully conduct interviews (either semi‐structured or unstructured), giving some examples on how to ask questions, how to interact with the respondent and how to prepare the material needed. A transcription of a potential interview is also provided.

The subject of Chapter 7 is about getting data ready for analysis, the use of different techniques for the analysis, and how to interpret the results obtained.

The chapter begins with the particularities of different types of data, namely quantitative and qualitative. Then the authors address each sort of data individually, first focusing on how to prepare and analyse quantitative data, and second, qualitative data. Essential statistical terms are defined, providing the reader with the basic instruments and techniques. Examples on how to interpret descriptives, correlation coefficients, associations between variables, predict cause‐effect relationships, or how to transcript an interview are provided, facilitating the understanding of those terms that the reader may not yet be familiar with. Screenshots of the most commonly used software packages for processing data are also introduced (i.e. SPSS, ATLAS.it, NVivo).

Writing an effective research proposal is a vital part of the research process. In the eighth and last chapter, the authors provide some insightful comments on the writing style students should adopt when compiling their research proposal and suggest some of the criteria against which the quality of the research project may be assessed.

Although each research process has its own particularities and layout, to a great extent, the content of a research project tends to follow a standardized structure: the title; an abstract; an introduction section presenting the research question(s); a review of the literature ending with the formulation of the hypotheses to be tested and the statement of the research objectives; a method section detailing how the research will be carried out; a discussion of the results; the conclusions and limitations of the study; and a list of the cited references. By way of conclusion, two research proposals are presented exemplifying all the aspects and issues discussed throughout the book.

Although the content of this book is quite predictable for a book of this type, it enables an effective learning process, representing a very useful guide for students planning or undertaking a research project or a dissertation in the fields of business and management. An eminently practical approach and a language free of an excessive use of technical terms helps students obtaining a thorough understanding of the main methodological issues a research project entails.

Therefore, taken as a whole, the value and rigour of this book is unquestionable, underpinning the strength of this publication.

A About the reviewer

Jasmina Berbegal‐Mirabent (PhD) received the MS degrees in Industrial Engineering and Industrial Scheduling, both from UPC BarcelonaTech (Spain) in 2008 and 2009, respectively. She is now working as an Associate Professor at the Department of Management at the UPC BarcelonaTech. She has been a Visiting Research Associate at the Institute of Education at the University of London. She has published her works in international and peer‐reviewed journals such as The Service Industries Journal , Management Decision , Journal of Technology Management & Innovation , Intangible Capital and Economía Industrial . She has recently been named Book Review Editor of Management Decision , and she is also on the editorial board of the Journal of Industrial Engineering and Management . Her research interests are in the areas of the management of higher education institutions and their role in regional development; academic entrepreneurship; and technology transfer. Jasmina Berbegal‐Mirabent can be contacted at: [email protected]

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Nature, Scope, and Significance of Business Research

Business research is a systematic process of collecting, analyzing, and interpreting data to solve business problems and make strategic decisions. It serves various fields such as market research, financial analysis, consumer behavior, and competitive analysis. The primary goal of business research is to provide actionable insights that can help businesses improve their performance, identify opportunities, and reduce risks. In this blog, we will explore the scope and methodology of business research, and how it benefits both local and global businesses. Finally, we will highlight why Insights Opinion is one of the big market research firms .

What is Business Research

Business research is like being a detective for your business. Here is what it usually involves:

Finding Information: This is about collecting all sorts of details. Look at how many things you sell, what your customers think, or what similar businesses do. It is like gathering clues – you could check your own sales records, ask customers for feedback, or read reports about your industry.
Understanding the Information: Once you have all this information, you must figure out what it tells you. For example, you might see that people buy more from you at certain times of the year or that they like one of your products more than others.
Telling Others What You Found: After figuring things out, you need to explain it to the people who make decisions in your business. This could be through writing a report, giving a presentation, or having a chat about your findings.

Benefits of Business Research

By understanding market trends, customer behavior, and other critical factors, businesses can make better decisions, optimize their strategies, and achieve their goals. Here are some major benefits of business research :

Informed Decision Making: Business research provides accurate and reliable data, enabling managers to make well-informed decisions.

Market Understanding: It helps businesses understand market dynamics, customer preferences, and emerging trends.

Risk Reduction: By identifying potential risks and challenges, business research allows companies to take proactive measures.

Competitive Advantage: Businesses can gain a competitive edge by understanding their competitors’ strengths and weaknesses.

Strategic Planning: Research insights help in formulating effective strategies and long-term plans .

Scope of Business Research

The scope of research is vast and includes various aspects of a business. It can be broadly categorized into the following areas:

Market Research: Market research involves collecting and analyzing data about market conditions, customer preferences, and buying behaviors. It helps businesses identify new market opportunities , understand customer needs, and develop effective marketing strategies.

Product Research: Product research focuses on evaluating the feasibility, design, and performance of new products or services. It involves testing product concepts, assessing market demand, and gathering customer feedback.

Financial Research: Financial research involves analyzing financial data to evaluate the financial health of a business. It includes budgeting, forecasting, and financial planning to ensure the company’s profitability and sustainability.

Consumer Research: Consumer research aims to understand consumer behavior, preferences, and satisfaction levels. It helps businesses tailor their products and services to meet customer expectations.

Competitive Analysis: Competitive analysis involves studying competitors to understand their strategies, strengths, and weaknesses. It helps businesses develop strategies to gain a competitive advantage.

Operational Research: Operational research focuses on improving business processes and operations. It involves analyzing workflows, identifying inefficiencies, and implementing solutions to enhance productivity.

Business Research Methodology

The business research methodology involves a systematic process that includes several key steps:

Problem Identification: The first step in business research is identifying the problem or issue that needs to be addressed. This involves defining the research objectives and determining the scope of the study.

Research Design: In this step, researchers develop a plan or framework for conducting the research. This includes selecting the research method (qualitative or quantitative), determining the sample size, and choosing data collection techniques.

Data Collection: Data collection involves gathering relevant information from various sources. This can be done through surveys, interviews, focus groups, observation, and secondary data sources such as company records and industry reports.

Data Analysis: Once the data is collected, it is analyzed using statistical tools and techniques.: This step involves organizing the data, identifying patterns, and interpreting the results.

Reporting and Presentation: The final step is presenting the research findings in a clear and concise manner. This includes preparing reports, charts, and presentations that summarize the key insights and recommendations .

Business Research for Local and Global Businesses

Business research is essential for both local and global businesses. It helps them understand their respective markets and make informed decisions.

Local Businesses: For local businesses, research focuses on understanding the local market dynamics, customer preferences, and competitive landscape. This includes analyzing local trends, conducting surveys, and gathering feedback from customers.

Global Businesses: For global businesses, research involves a more extensive analysis of international markets. This includes studying global trends, understanding cultural differences, and evaluating the economic and political environment in different countries.

Why Choose Insights Opinion for Business Research

Insights Opinion is a big market research company that offers comprehensive business research services. Whether you are a local business looking to understand your market better or a global enterprise seeking to expand into new territories, Insights Opinion provides the expertise and resources you need. Our team of experienced researchers uses advanced methodologies to deliver actionable insights that drive business growth. Choose Insights Opinion for your business research needs and make data-driven decisions that propel your business forward. Trust us to provide the best market research services and help you achieve your business objectives.

What is business research?

Ans. Business research involves gathering, analyzing, and interpreting data to solve business problems and make informed decisions.

What are the main benefits of business research?

Ans. Business research helps in making informed decisions, understanding market trends, reducing risks, gaining competitive advantage, and planning effective strategies.

How is business research conducted?

Ans. Business research is conducted through a systematic process that includes problem identification, research design, data collection, data analysis, and reporting.

Can business research help both local and global businesses?

Ans. Yes, business research helps local businesses understand their market and global businesses analyze international trends and cultural differences for better decision-making.

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Nature, scope and significance of business research.

Business market research is a dynamic concept. One of the key components of market research studies is the strategic inquiry into a business situation or environment to establish the actuality or evidence that may have led to the development of certain trends. Today, business research is the pillar that supports decision-making in various areas of an organization. Prior to conducting proactive business research, it is crucial to determine the underlying objectives of the research program to come up with an accurately targeted approach. The significance of business research is that it is a fact-finding mission that fuels successful decision-making in a corporate environment. Let us take a look at the nature, scope, and significance of business research.

What is Involved in Business Research?

Business research is the process of gathering thorough information on all aspects of a company's operations and applying that information to improve operational excellence, which can lead to an increase in sales and profits.

A study like this can assist businesses in figuring the product or service that is most profitable.
It entails determining where money should be spent to boost sales, profitability, or/and market share.

Given the increasing competition in all industries, market research has become extremely necessary to make intelligent and informed decisions that fuel business growth.

The Nature of Business Research

In business, knowledge is power. The ability to make informed decisions is crucial for any organization's success and growth. To achieve this, businesses rely on research—a systematic inquiry that helps unravel complex problems, discover insights, and explore new opportunities. Business research involves a structured investigation aimed at collecting and analyzing data to address specific business challenges or explore potential opportunities. This often includes conducting market research studies and producing business research reports based on the research findings. It is a multi-faceted process that employs various methodologies, including quantitative and qualitative techniques, to acquire knowledge that drives decision-making. While quantitative research focuses on numerical data and statistical analysis, qualitative research emphasizes an in-depth understanding of subjective experiences, opinions, and motivations. From problem identification to market analysis and decision support, research empowers businesses to navigate complexities, adapt to change, and seize opportunities. Investing in robust research practices can help organizations lay the foundation for sustainable growth and success. It is crucial to hire a reputable business research company with proven experience in providing specialized business market research services.

The Scope of Business Research

The scope and significance of business research are immense. In this section, we will discuss how top business research companies like Unimrkt Research can help your organization navigate the complicated fabric of today’s dynamic business world and build a profitable venture that stands the test of time.

Problem Identification

Business research plays a vital role in identifying and defining the problems that organizations face. It helps clarify issues, determine their root causes, and establish clear objectives for further investigation. By gaining a comprehensive understanding of the challenges, businesses can develop effective strategies to overcome them.

Market Analysis and Competitive Intelligence

Researching the market landscape and understanding customer preferences are fundamental to success. A business research company enables businesses to analyze market trends, consumer behavior, and competitor strategies. This knowledge aids in developing tailored products, crafting targeted marketing campaigns, and staying ahead of the competition.

Decision Support

Robust research provides decision-makers with reliable information, enabling them to make informed choices. Whether it's launching a new product, expanding into new markets, or modifying existing strategies, data-backed decisions reduce uncertainty and enhance the chances of achieving the desired outcomes.

Innovation and Adaptation

Business research facilitates innovation by uncovering emerging trends, technological advancements, and changing consumer needs. By staying abreast of industry developments, organizations can adapt quickly and identify growth opportunities. Research also aids in identifying potential risks and threats, allowing businesses to proactively mitigate them.

Performance Evaluation

To sustain success, businesses must evaluate their performance regularly. Research provides valuable insights into key performance indicators, customer satisfaction levels, and operational efficiency. By analyzing this data, companies can identify areas for improvement, optimize processes, and enhance overall performance.

Importance of Business Research

Business research is one of the most effective ways to understand your customers and the overall market, as well as analyze competitors. This type of research aids businesses in determining market demand and supply. It can help business organizations to cut unnecessary expenses and develop tailor-made solutions or products that appeal to the demand in the market. Research for startups aids in gathering information for professional or commercial purposes to assess business prospects and goals. Business research can also help startups find the right audience profile for their offerings. It is the holy grail when looking to achieve success in the modern, ultra-competitive business world.

Key Advantages of Business Research

Here are some of the key advantages of business research:

Market research can help organizations gain a better perspective and understanding of their market or target audience. This ensures that the company stays ahead of its competitors.
Primary and secondary research can act as an insurance policy against obvious but silent dangers on your business path.
Market research findings help organizations learn from their weaknesses and adapt to new business environments.
By using certain research methodologies for competitor analysis, you can capitalize on your new-found knowledge to steer ahead of the competition.
Regular market research initiatives help take the ‘pulse’ of hot market trends, allowing you to come up with “superhit” products and services.
It helps with market forecasting, which allows you to project future numbers, characteristics, and trends within your target market.

Significance of Business Research in Local and Global Business Fields

Today, top market research companies are focusing on the assessment of both local and international business environments. A business research company takes factors such as markets (global and domestic), goods and services, and other business elements into account to conduct a progressive and strategic study. The significance of business research is such that it has become a crucial predictor of organizational effectiveness, as it determines the perception, quality, and sustainability of several performance factors. For example, in a traditional manufacturing concern, business research can help with aspects like product refinement, distribution networks, competitiveness module design, and customer demand tracking, among other things.

Key Steps in Conducting Business Research

Here are the key steps involved when conducting business research. By following these steps, businesses can develop and conduct systematic and effective research programs that provide valuable insights, supporting informed decision-making.

Identify and Define the Research Problem

Clearly articulate the specific business challenge or opportunity that you aim to address through research. Define the problem in a concise and focused manner, ensuring clarity and alignment with organizational objectives.

Develop Research Objectives

Establish clear and measurable research objectives that align with the identified problem. These objectives will guide the entire research process and help ensure that the outcomes are relevant and actionable.

Design the Research Methodology

Select the appropriate research methodology based on the nature of the problem and the data needed. This may involve choosing between quantitative and qualitative approaches, or a combination of both. Determine the research design, sampling techniques, data collection methods, and tools to be used.

Collect Data

Implement the data collection methods defined in the research design process. This could involve conducting surveys, interviews, observations, or analyzing existing data sources. Ensure the data collected is reliable, valid, and relevant to the research objectives.

Analyze Data

Process and analyze the collected data using appropriate statistical or qualitative analysis techniques. Identify patterns, trends, and insights that emerge from the data. Use software tools or statistical packages, if required, to aid in data analysis.

Interpret Findings

Interpret the analyzed data in the context of the research objectives and the original problem. Draw meaningful conclusions and insights from the findings. Relate the findings to existing theories or industry benchmarks, if applicable.

Communicate Results

Prepare a comprehensive report or presentation that effectively communicates the research findings, insights, and recommendations. Present the information in a concise, clear, and visually appealing manner. Tailor the communication to the intended audience, highlighting the implications and actionable steps.

Validate and Verify

Seek feedback and validation from stakeholders, colleagues, or experts to ensure the accuracy and reliability of the research findings. Incorporate their input and make any necessary revisions to strengthen the research outcomes.

Implement Recommendations

Translate the research findings into actionable recommendations or strategies. Develop an implementation plan and ensure buy-in from key stakeholders. Monitor and evaluate the progress and impact of the implemented recommendations.

Reflect and Learn

Reflect on the research process and outcomes. Identify lessons learned, strengths, and areas for improvement. This reflection can inform future research endeavors and enhance the organization's research capabilities.

The importance and significance of business research will only continue to grow with the changing business landscape. Business research has a direct impact on your organization’s success. The first and, perhaps, most important task for a business organization is to find the right market research company . This is where Unimrkt Research comes into play. Over the years, we have conducted industry research across 90 countries, spanning four continents in a variety of industries. We follow ESOMAR norms and are certified with the ISO 20252 and ISO 27001 standards. To learn about our business market research services, call +91 124 424 5210/+91 9870 377 557 or email [email protected] .

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How To Write Significance of the Study (With Examples)

Whether you’re writing a research paper or thesis, a portion called Significance of the Study ensures your readers understand the impact of your work. Learn how to effectively write this vital part of your research paper or thesis through our detailed steps, guidelines, and examples.

Related: How to Write a Concept Paper for Academic Research

What is the significance of the study.

The Significance of the Study presents the importance of your research. It allows you to prove the study’s impact on your field of research, the new knowledge it contributes, and the people who will benefit from it.

Related: How To Write Scope and Delimitation of a Research Paper (With Examples)

Where Should I Put the Significance of the Study?

The Significance of the Study is part of the first chapter or the Introduction. It comes after the research’s rationale, problem statement, and hypothesis.

Related: How to Make Conceptual Framework (with Examples and Templates)

Why Should I Include the Significance of the Study?

The purpose of the Significance of the Study is to give you space to explain to your readers how exactly your research will be contributing to the literature of the field you are studying 1 . It’s where you explain why your research is worth conducting and its significance to the community, the people, and various institutions.

How To Write Significance of the Study: 5 Steps

Below are the steps and guidelines for writing your research’s Significance of the Study.

1. Use Your Research Problem as a Starting Point

Your problem statement can provide clues to your research study’s outcome and who will benefit from it 2 .

Ask yourself, “How will the answers to my research problem be beneficial?”. In this manner, you will know how valuable it is to conduct your study.

Let’s say your research problem is “What is the level of effectiveness of the lemongrass (Cymbopogon citratus) in lowering the blood glucose level of Swiss mice (Mus musculus)?”

Discovering a positive correlation between the use of lemongrass and lower blood glucose level may lead to the following results:

Increased public understanding of the plant’s medical properties;
Higher appreciation of the importance of lemongrass by the community;
Adoption of lemongrass tea as a cheap, readily available, and natural remedy to lower their blood glucose level.

Once you’ve zeroed in on the general benefits of your study, it’s time to break it down into specific beneficiaries.

2. State How Your Research Will Contribute to the Existing Literature in the Field

Think of the things that were not explored by previous studies. Then, write how your research tackles those unexplored areas. Through this, you can convince your readers that you are studying something new and adding value to the field.

3. Explain How Your Research Will Benefit Society

In this part, tell how your research will impact society. Think of how the results of your study will change something in your community.

For example, in the study about using lemongrass tea to lower blood glucose levels, you may indicate that through your research, the community will realize the significance of lemongrass and other herbal plants. As a result, the community will be encouraged to promote the cultivation and use of medicinal plants.

4. Mention the Specific Persons or Institutions Who Will Benefit From Your Study

Using the same example above, you may indicate that this research’s results will benefit those seeking an alternative supplement to prevent high blood glucose levels.

5. Indicate How Your Study May Help Future Studies in the Field

You must also specifically indicate how your research will be part of the literature of your field and how it will benefit future researchers. In our example above, you may indicate that through the data and analysis your research will provide, future researchers may explore other capabilities of herbal plants in preventing different diseases.

Tips and Warnings

Think ahead . By visualizing your study in its complete form, it will be easier for you to connect the dots and identify the beneficiaries of your research.
Write concisely. Make it straightforward, clear, and easy to understand so that the readers will appreciate the benefits of your research. Avoid making it too long and wordy.
Go from general to specific . Like an inverted pyramid, you start from above by discussing the general contribution of your study and become more specific as you go along. For instance, if your research is about the effect of remote learning setup on the mental health of college students of a specific university , you may start by discussing the benefits of the research to society, to the educational institution, to the learning facilitators, and finally, to the students.
Seek help . For example, you may ask your research adviser for insights on how your research may contribute to the existing literature. If you ask the right questions, your research adviser can point you in the right direction.
Revise, revise, revise. Be ready to apply necessary changes to your research on the fly. Unexpected things require adaptability, whether it’s the respondents or variables involved in your study. There’s always room for improvement, so never assume your work is done until you have reached the finish line.

Significance of the Study Examples

This section presents examples of the Significance of the Study using the steps and guidelines presented above.

Example 1: STEM-Related Research

Research Topic: Level of Effectiveness of the Lemongrass ( Cymbopogon citratus ) Tea in Lowering the Blood Glucose Level of Swiss Mice ( Mus musculus ).

Significance of the Study .

This research will provide new insights into the medicinal benefit of lemongrass ( Cymbopogon citratus ), specifically on its hypoglycemic ability.

Through this research, the community will further realize promoting medicinal plants, especially lemongrass, as a preventive measure against various diseases. People and medical institutions may also consider lemongrass tea as an alternative supplement against hyperglycemia.

Moreover, the analysis presented in this study will convey valuable information for future research exploring the medicinal benefits of lemongrass and other medicinal plants.

Example 2: Business and Management-Related Research

Research Topic: A Comparative Analysis of Traditional and Social Media Marketing of Small Clothing Enterprises.

Significance of the Study:

By comparing the two marketing strategies presented by this research, there will be an expansion on the current understanding of the firms on these marketing strategies in terms of cost, acceptability, and sustainability. This study presents these marketing strategies for small clothing enterprises, giving them insights into which method is more appropriate and valuable for them.

Specifically, this research will benefit start-up clothing enterprises in deciding which marketing strategy they should employ. Long-time clothing enterprises may also consider the result of this research to review their current marketing strategy.

Furthermore, a detailed presentation on the comparison of the marketing strategies involved in this research may serve as a tool for further studies to innovate the current method employed in the clothing Industry.

Example 3: Social Science -Related Research.

Research Topic: Divide Et Impera : An Overview of How the Divide-and-Conquer Strategy Prevailed on Philippine Political History.

Significance of the Study :

Through the comprehensive exploration of this study on Philippine political history, the influence of the Divide et Impera, or political decentralization, on the political discernment across the history of the Philippines will be unraveled, emphasized, and scrutinized. Moreover, this research will elucidate how this principle prevailed until the current political theatre of the Philippines.

In this regard, this study will give awareness to society on how this principle might affect the current political context. Moreover, through the analysis made by this study, political entities and institutions will have a new approach to how to deal with this principle by learning about its influence in the past.

In addition, the overview presented in this research will push for new paradigms, which will be helpful for future discussion of the Divide et Impera principle and may lead to a more in-depth analysis.

Example 4: Humanities-Related Research

Research Topic: Effectiveness of Meditation on Reducing the Anxiety Levels of College Students.

Significance of the Study:

This research will provide new perspectives in approaching anxiety issues of college students through meditation.

Specifically, this research will benefit the following:

Community – this study spreads awareness on recognizing anxiety as a mental health concern and how meditation can be a valuable approach to alleviating it.

Academic Institutions and Administrators – through this research, educational institutions and administrators may promote programs and advocacies regarding meditation to help students deal with their anxiety issues.

Mental health advocates – the result of this research will provide valuable information for the advocates to further their campaign on spreading awareness on dealing with various mental health issues, including anxiety, and how to stop stigmatizing those with mental health disorders.

Parents – this research may convince parents to consider programs involving meditation that may help the students deal with their anxiety issues.

Students will benefit directly from this research as its findings may encourage them to consider meditation to lower anxiety levels.

Future researchers – this study covers information involving meditation as an approach to reducing anxiety levels. Thus, the result of this study can be used for future discussions on the capabilities of meditation in alleviating other mental health concerns.

Frequently Asked Questions

1. what is the difference between the significance of the study and the rationale of the study.

Both aim to justify the conduct of the research. However, the Significance of the Study focuses on the specific benefits of your research in the field, society, and various people and institutions. On the other hand, the Rationale of the Study gives context on why the researcher initiated the conduct of the study.

Let’s take the research about the Effectiveness of Meditation in Reducing Anxiety Levels of College Students as an example. Suppose you are writing about the Significance of the Study. In that case, you must explain how your research will help society, the academic institution, and students deal with anxiety issues through meditation. Meanwhile, for the Rationale of the Study, you may state that due to the prevalence of anxiety attacks among college students, you’ve decided to make it the focal point of your research work.

2. What is the difference between Justification and the Significance of the Study?

In Justification, you express the logical reasoning behind the conduct of the study. On the other hand, the Significance of the Study aims to present to your readers the specific benefits your research will contribute to the field you are studying, community, people, and institutions.

Suppose again that your research is about the Effectiveness of Meditation in Reducing the Anxiety Levels of College Students. Suppose you are writing the Significance of the Study. In that case, you may state that your research will provide new insights and evidence regarding meditation’s ability to reduce college students’ anxiety levels. Meanwhile, you may note in the Justification that studies are saying how people used meditation in dealing with their mental health concerns. You may also indicate how meditation is a feasible approach to managing anxiety using the analysis presented by previous literature.

3. How should I start my research’s Significance of the Study section?

– This research will contribute… – The findings of this research… – This study aims to… – This study will provide… – Through the analysis presented in this study… – This study will benefit…

Moreover, you may start the Significance of the Study by elaborating on the contribution of your research in the field you are studying.

4. What is the difference between the Purpose of the Study and the Significance of the Study?

The Purpose of the Study focuses on why your research was conducted, while the Significance of the Study tells how the results of your research will benefit anyone.

Suppose your research is about the Effectiveness of Lemongrass Tea in Lowering the Blood Glucose Level of Swiss Mice . You may include in your Significance of the Study that the research results will provide new information and analysis on the medical ability of lemongrass to solve hyperglycemia. Meanwhile, you may include in your Purpose of the Study that your research wants to provide a cheaper and natural way to lower blood glucose levels since commercial supplements are expensive.

5. What is the Significance of the Study in Tagalog?

In Filipino research, the Significance of the Study is referred to as Kahalagahan ng Pag-aaral.

Draft your Significance of the Study. Retrieved 18 April 2021, from http://dissertationedd.usc.edu/draft-your-significance-of-the-study.html
Regoniel, P. (2015). Two Tips on How to Write the Significance of the Study. Retrieved 18 April 2021, from https://simplyeducate.me/2015/02/09/significance-of-the-study/

Written by Jewel Kyle Fabula

in Career and Education , Juander How

Jewel Kyle Fabula

Jewel Kyle Fabula is a Bachelor of Science in Economics student at the University of the Philippines Diliman. His passion for learning mathematics developed as he competed in some mathematics competitions during his Junior High School years. He loves cats, playing video games, and listening to music.

Browse all articles written by Jewel Kyle Fabula

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Business Research: It’s Meaning, Process and Objectives

Meaning of business research.

Business research is the process of studying a company’s competitors, stakeholders, and profit & loss to meet the company objectives and maximize revenue & profits.

The research should be unbiased and factual as they form the basis for further analysis.

Thus, business research is purely the collection and interpretation of external as well as internal data for a company’s better performance.

Objectives of Business Research

Understanding customer requirements, defining stakeholders.

Business research helps to differentiate between potential and non-potential customers. This way the company can quantify its market reach and conduct surveys amongst some of its customers related to their tastes and type. This will help them gain feedback from their customers which they can add back as features in their products!

Pain & Gain Points

Rival study.

The strength of a company is a threat to its competitor and the weakness of a company is the opportunity of its competitor. Therefore, the company should analyze its threats i.e., make an in-depth study of its competitors and, thus brainstorm different ways in which it can convert its threats into opportunities.

Scope of Business Research

Moreover, the scope of business research is not only restricted to the product market. It also plays a crucial role in personnel management and workforce development. Research made for employee motivation, grooming, training, and promotion inculcates more coordination in the organization and also nurtures productivity amongst employees.

Nature of Business Research

Process of business research, identification of challenge.

The first and foremost task of every research is to set an objective by defining what are the prevalent problems in the marketplace and how a company can tackle them.

Creating Research Proposal

Execution of research.

Once the plan is made and the research proposal is developed, the company can toss alternative ways they can execute the research. The company can forward with research by random sampling (mass media survey) or can rely on previously collected data too.

Interpretation of Data

Action plan, related posts:, add commercemates to your homescreen.

Importance of research in business

August 18, 2021

Ever heard of the toy company LEGO? Did you know that this renowned brand was geared towards boys for decades, so much that only 9% of their primary users were female? The company took to sending out researchers to conduct a four-year study involving over 3,500 girls, focusing on their playing habits, and gathering feedback to better understand how to increase the percentage of female users.

With results from the intensive research process, the team worked on a new line of toys involving vibrant colours, additional figurines, and manufactured them in a larger size to cater as an add-on to kids’ accessories. The line, “Friends”, first launched in 2012, has since been a hit with girls and continues to have an inclining market share in construction toys. In addition, research firm NPD Group found that the value of girls’ construction toys tripled to a whopping $900 million in 2014, showing a significant difference from three years prior. This is evident that the direction taken by LEGO in conducting in-depth research has propelled them to remarkable heights and is a building block for their success.

What is Research defined as?

It is acquiring details in all aspects of the business, then using scientific methods to break the information down. Results from the findings would then be distributed through various mediums, such as reports, presentations, and strategic initiatives. Often, research is done in many forms and conducted internally or by an external consultant or firm.

Research is further defined as the capture of accurate data through a systematic approach, using actual observations to deduce real-time data. Generally, the goal is to understand which direction to pump funds into for better sales, profits, and market share.

Types of Research methods:

Qualitative

Think of it as getting coffee with somebody for the first time, where you ask questions to find out more about their hobbies and interests. This method involves structuring open-ended questions in a way where a precise conclusion can be drawn. The goals of this are to get in-depth knowledge about the subjects of the research and to better understand the beliefs of the responders through their behaviour and response.

Data of this research method is collected through the following:

● In-depth Interviews

● Case Study Research

● Focus Groups

● Ethnographic Research

Quantitative

It aims to test theories by objectively collecting and analyzing numerical and statistical data to predict variables of interest. The main goal of it is to test a theory and hypothesis for it to be confirmed. An example is coming up with a questionnaire to understand the percentage of people who play sports on a weekly basis.

This research method includes:

● Experiments

● Numerical Observations

● Closed-ended Surveys

While the approaches provide a vast difference in insights and perspectives, many companies engage in the combination of both to attain the most vital information. This enables them to work smarter in delivering benefits, comparing results, as well as gain deeper insights.

Why is Research important?

Builds credibility

Customers should not be purchasing products with the benefit of the doubt. Having sufficient facts from valuable data provides a solid foundation for findings and leaves them with lesser room for contemplation.

Provides a clear breakdown of what you are up against

With evolving competition all around, there is no guarantee for a business to remain at the peak of its lifespan. One framework used is the SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats) to first evaluate a company’s competitive position to move ahead strategically.

Helps to narrow your scope

It identifies the most unique themes to provide a working direction to go in. This helps in decision making when you want to dive into the specifics, such as the target audience and goal-setting. Doing so helps businesses to understand the supply and demand of the market, helping them reduce costs on what may not be as necessary.

Provides the latest information and updates

Change happens constantly and it is important to keep up with trends. Having research set in place keeps the business well-informed to relay the best information and meet customer demands.

Retains and introduces customers

To keep a business alive, knowledge of key demographics is important in creating a product or driving it in a certain direction. This data obtained will help the businesses to better understand the brand value and measure customer satisfaction. This piques interest from early adopters and strengthens customer loyalty.

Impact of insufficient research

Without sufficient research done, businesses stand a big chance in missing market opportunities and may face a decline in success rates. They may also place emphasis on the wrong aspects, throwing away meaningful time and resources. Coors, the company behind Coors Rocky Mountain Sparkling Water , is one such example.

Coors originated as a beer company and was known particularly for their alcoholic products prior to expanding into water products. Wanting to go big and ramp up sales of the newly-launched sparkling water product with their mature market presence, they decided to distinctively slap the company’s name and logo on it, selling it under the same line as its beer beverages. Unfortunately, this did not sit right with its consumers as they did not see it as just a bottled water product, but instead, an infusion of water and beer altogether.

This led to failure in sales as customers placed their trust in the already big names in the bottled water industry, leaving no room to consider Coors’ launch. The mistake is still referred to by many businesses as “one of the biggest flops”, simply because they did not do the necessary amount of research to better understand their consumer base. Additionally, they did not reflect on customer satisfaction, moving ahead with it and only discontinuing the line many years later.

The main reason for such research is to help businesses grow in terms of revenue, market share and brand value. A lack of it would lead to inadequate information and unreliable findings, thus resulting in poor decisions made. Based on the success of LEGO and failure of Coors, it is evident that research is of utmost importance when driving a business to higher growth and avoiding mistakes in the process.

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The Importance of Market and Marketing Research in Business

Learn the difference between market research and marketing research

Laura Lake is a marketing professional and author of "Consumer Behavior for Dummies."

When it comes to running a business, making assumptions about your customers, market, competitors, or systems can cause you to waste time, money , and effort.

To make effective decisions that will grow your business and use your resources wisely, you will need to put some of those resources toward conducting market and marketing research.

Market Research vs. Marketing Research

Market research involves identifying a specific "target," and focusing exclusively on that group. It is research into a narrow group of consumers to understand their behavior and motivation.

Marketing research has a broader scope that market research. It is used to examine the entire marketing process of a company, rather than only looking at the consumers that the company is targeting.

The Importance of Market Research

Successfully running and growing your business depends on understanding your target customers. Once you have a clear picture of their goals, needs, and values, you are more able to drive them towards purchasing your products or services.

Market research is one of the best tools you have for understanding your customers. It gives you hard data that you can use to drive your marketing strategy, making both marketing and selling easier and more effective.

Market research helps you:

Improve communication. It drives your communication not only with your current customer base but with target prospects as well. Market research shows you where your customers can be reached, as well as what language will be most effective in attracting their attention and resonating with them on an emotional level.
Identify opportunity. Market research helps you identify both high-level and more accessible opportunities for reaching and converting new customers. It can be the best way to discover new platforms for advertising, consumer concerns you were unaware of, and gaps within your market that you can fill.
Lower your risk. Concrete data keeps you focused on the real opportunities and helps you avoid unproductive effort. When you understand your customers, you can use your resources to reach them more effectively, with less risk of wasting time, money, and effort on marketing initiatives that don't work. Market research also helps you identify low-risk, high-reward areas where your company can expand or offer new services,

The Importance of Marketing Research

Marketing research is important for evaluating what is and is not working in your business model. It includes research into your target market, as well as the systems in your business that make up your marketing conditions.

Marketing research looks at every aspect of the Four Ps of marketing: product, price, place, and promotion. This includes:

Public Relations
Modes of distribution
Development of new products/services
Promotions and advertising
Market conditions

Marketing research helps you learn not just what your customers want, but how successful your business is at reaching and connecting with them. It helps you identify problems and opportunities, refine your systems, and evaluate your marketing strategy.

How to Conduct Research for Your Business

Though they look at different aspects of your business, both market research and marketing research should follow the same pattern of data collection and analysis.

Define the problem. Start by identifying the focus of your research. Knowing what question you are trying to answer will help you structure your research effectively.
Determine your budget and timeframe. How much can you afford to spend on the research process? How soon will you need to have data collection completed? Like all the strategies that you use to grow your business, research should be conducted within your available resources. However, depending on the urgency of the questions you are answering, it may be worth spending more money to get the most comprehensive results possible.
Design your method and needs. Identify what data needs to be collected and how you will gather it. Some options are observation, surveys, telephone calls, or focus groups. If you are unsure how to structure your data collection, consider working with a professional research firm.
Choose a sampling method. How will you select the participants for your research? You may need a random sampling from the general population of consumers, a group that all have a single lifestyle factor in common, or responses only from people who are already your customers. Create a plan for identifying and contacting your participants.
Plan for data analysis. Decide how you will analyze your data. Will you need quantitative data for statistical analysis or qualitative, observational data to give you a broad picture? Will you use software or do it by hand? Take time to learn about various methods of analysis to find the one that will best answer your research question.
Data collection. Once you know what question you want to answer and have designed a research method to answer it within the constraints of your available budget and time, it's time to collect data. Many businesses work with professional firms or consultants to conduct their actual research.
Analysis of the data. No matter how straightforward your data seems at first glance, you'll want to use specific methods of analysis to ensure that you understand what it is telling you. The methods of analysis that you use will depend on the type of data you collected. This should also be when you check for errors, which can occur in your sampling method, data collection, and analysis.
Create your report. The final step of the research process is drafting a report on your findings. Your report should outline the entire research process, from developing your problem statement to the results of your data analysis.

No matter what type of research you are conducting, you will need to follow the full research method to arrive at a conclusion that will benefit your business. If your findings lead to a solution to your problem statement, you will be able to decide on the next steps for your business.

If you were unable to answer your research question, that doesn't mean your research was done incorrectly. You may discover that you need to ask different questions or that the situation was more complicated than you anticipated. When that happens, it's time to continue your research until you've arrived at a solution.

Establishing Rationale and Significance of Research

Cite this chapter.

Judith Hahn

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This chapter builds on the first five chapters in this handbook that explained the research design typology. The focus here is on establishing rationale and significance of research. This chapter is intended to serve as a guide for practitioners to apply and integrate the research design typology layers into a scholarly manuscript. In contrast to the broad scope of the first five chapters, this chapter concentrates on how to integrate specific components of the typology regardless of which ideology the researcher holds on the continuum (positivist, post-positivist, pragmatist, interpretivist, or constructivist).

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Looking Back

Research Questions and Research Design

Reflections on Methodological Issues

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The Ethics of Using QI Methods to Improve Health Quality and Safety (2006). Hastings Center Report , Vol. 36, pp. S1–S40.

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Hahn, J. (2015). Establishing Rationale and Significance of Research. In: Strang, K.D. (eds) The Palgrave Handbook of Research Design in Business and Management. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137484956_7

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5 Reasons Why Research is Important in Business

What are the reasons why research is important in business, to better understand your customers, identifies problem areas, beneficial in comparative studies, helps design new business opportunities, minimizes loss.

The utilization of research through a WordPress survey tool is greatly beneficial to the evolution and the further development of a business. By exerting efforts in gathering data through research, a business can observe what parts of their current processes are working well and what needs to be changed. The collection of data can also be used to formulate new types of business opportunities and marketing campaigns, creating a bigger and better business for you.

Read on to learn more about reasons as to why research is important in business.

Marketing research with the use of online surveys can help you quickly and efficiently collect data from a vast group of people. In order to understand who exactly is benefiting from your products and services, you can choose to send out a survey that would ask questions regarding their demographic. Take note of the similarities in the replies in order to find out the consumers that benefit from your services. Doing so can help change up your business to better cater to the right consumers, effectively increasing your customer satisfaction.

These can help turn your business into a more aware one. It can even be a stepping stone to searching for a new consumer market to explore. Another reason as to why research is important is it can help you identify problem areas.

By customizing online survey tools, your business can better observe the points of improvement in each of your departments. If you opt to release a survey meant for the consumers, you can better see what factors of your products and services need to be improved upon. If you release a survey meant for your employees, then you can better see the point of improvement that you can do within your current business processes.

You could create necessary improvements, by identifying problem areas . You may also opt to release surveys every couple of months in order to track the progress of your changes. Besides your own data, you can also compare it to the data from other competitor companies.

In order for you to be a step above your competitors, you need to offer something unique to your consumers. If you observe that their sales are increasing at a relatively faster rate than yours, it may be due to a number of factors . In order to discover what exactly makes their company run more smoothly than yours, you could compare the data that you received from your market research with the growth of your competitors.

Compare your products & services and see what makes theirs more appealing to consumers. Then, adapt to this knowledge by making the necessary changes to your current business practices. These changes can be in the form of designing marketing campaigns or by exploring new business opportunities.

Research can not just help design new business opportunities, but it can help design successful ones. With the help of online surveys, you can easily ask your consumers for other things that they may need help in. If you notice a trend in the desires of your consumers, you can turn this into a good advantage for your company in terms of business opportunities. The release of this product will prove to your consumers that you care for their needs, which will ultimately boost loyalty.

Besides new products, with the help of research , you can even look into tapping new consumer markets. By releasing surveys to new and unexplored target markets for your company, you can discover what works and does not work for them. This way can help you effectively reduce your losses as online surveys are free to create.

By first sending out surveys to consumers, you are saving your company a lot of money. This is because you can already pinpoint the potential issues that could arise before you even launch a new product or service. After making the necessary changes, you can confidently release products that you know consumers will enjoy. In the case of a pre-existing product, you could send out surveys to help you find points of improvement in each one. By catering to the concerns of the consumers, it increases the chance of a product’s success.

Take note of these key reasons as to why research can be extremely beneficial to your business. This can better optimize your business processes as well as your services.

Key Takeaway

As a WordPress survey tool can be customized to better fit the needs of your business, it becomes easier to collect data from a large group of people. This, in turn, gives your business the opportunity to further improve upon current practices throughout multiple components. From sales to manufacturing, and even to employee handling.

Besides this, you can use the data you have learned about your business in order to compare how well you are faring against competitor companies. With this information, you can better improve your products and services to give you a competitive advantage.

Try and incorporate a WordPress survey tool into your business practices in order to get a better viewpoint of the success rate of your company.

Research: Using AI at Work Makes Us Lonelier and Less Healthy

David De Cremer
Joel Koopman

Employees who use AI as a core part of their jobs report feeling more isolated, drinking more, and sleeping less than employees who don’t.

The promise of AI is alluring — optimized productivity, lightning-fast data analysis, and freedom from mundane tasks — and both companies and workers alike are fascinated (and more than a little dumbfounded) by how these tools allow them to do more and better work faster than ever before. Yet in fervor to keep pace with competitors and reap the efficiency gains associated with deploying AI, many organizations have lost sight of their most important asset: the humans whose jobs are being fragmented into tasks that are increasingly becoming automated. Across four studies, employees who use it as a core part of their jobs reported feeling lonelier, drinking more, and suffering from insomnia more than employees who don’t.

Imagine this: Jia, a marketing analyst, arrives at work, logs into her computer, and is greeted by an AI assistant that has already sorted through her emails, prioritized her tasks for the day, and generated first drafts of reports that used to take hours to write. Jia (like everyone who has spent time working with these tools) marvels at how much time she can save by using AI. Inspired by the efficiency-enhancing effects of AI, Jia feels that she can be so much more productive than before. As a result, she gets focused on completing as many tasks as possible in conjunction with her AI assistant.

David De Cremer is a professor of management and technology at Northeastern University and the Dunton Family Dean of its D’Amore-McKim School of Business. His website is daviddecremer.com .
JK Joel Koopman is the TJ Barlow Professor of Business Administration at the Mays Business School of Texas A&M University. His research interests include prosocial behavior, organizational justice, motivational processes, and research methodology. He has won multiple awards from Academy of Management’s HR Division (Early Career Achievement Award and David P. Lepak Service Award) along with the 2022 SIOP Distinguished Early Career Contributions award, and currently serves on the Leadership Committee for the HR Division of the Academy of Management .

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Wenxiang Guo 1 ,
http://orcid.org/0000-0002-0484-1136 Paolo Mazzola 1 , 2 , 3
1 School of Medicine and Surgery , Università degli Studi di Milano-Bicocca , Monza , Italy
2 Acute Geriatrics Unit , Fondazione IRCCS San Gerardo dei Tintori , Monza , Italy
3 NeuroMI - Milan Center for Neuroscience , Università degli Studi di Milano-Bicocca , Milano , Italy
Correspondence to Professor Paolo Mazzola, School of Medicine and Surgery, Universita degli Studi di Milano-Bicocca, Monza, Italy; paolo.mazzola{at}unimib.it

https://doi.org/10.1136/ebnurs-2024-103967

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Mental Health
Patient-Centered Care

Commentary on: Kung PC, Huang HL, Hsu WC, et al . Coexisting with anomie: Experiences of persons living with early-stage dementia: A grounded theory study. Int J Ment Health Nurs 2024;33(2):452-462.

Implications for practice and research

Adopting a holistic care approach for individuals living with early-stage dementia is crucial, addressing not only their physical symptoms but also psychosocial and emotional needs.

There is need for further exploration of anomie in the context of dementia, as well as longitudinal and comparative studies to expand the understanding of its implications towards developing effective intervention strategies.

Dementia, recently renamed as ‘major neurocognitive disorder’, manifests with a multitude of symptoms leading to varying disease progression and expression 1 2 influenced by age of onset, physical condition, environment and emotional state of persons living with dementia (PLWD). The early stages embody coping with the drop of cognition and functional capacity as well as social stigma and …

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Competing interests None declared.

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Human Subjects Office

Medical terms in lay language.

Please use these descriptions in place of medical jargon in consent documents, recruitment materials and other study documents. Note: These terms are not the only acceptable plain language alternatives for these vocabulary words.

This glossary of terms is derived from a list copyrighted by the University of Kentucky, Office of Research Integrity (1990).

For clinical research-specific definitions, see also the Clinical Research Glossary developed by the Multi-Regional Clinical Trials (MRCT) Center of Brigham and Women’s Hospital and Harvard and the Clinical Data Interchange Standards Consortium (CDISC) .

Alternative Lay Language for Medical Terms for use in Informed Consent Documents

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

ABDOMEN/ABDOMINAL body cavity below diaphragm that contains stomach, intestines, liver and other organs ABSORB take up fluids, take in ACIDOSIS condition when blood contains more acid than normal ACUITY clearness, keenness, esp. of vision and airways ACUTE new, recent, sudden, urgent ADENOPATHY swollen lymph nodes (glands) ADJUVANT helpful, assisting, aiding, supportive ADJUVANT TREATMENT added treatment (usually to a standard treatment) ANTIBIOTIC drug that kills bacteria and other germs ANTIMICROBIAL drug that kills bacteria and other germs ANTIRETROVIRAL drug that works against the growth of certain viruses ADVERSE EFFECT side effect, bad reaction, unwanted response ALLERGIC REACTION rash, hives, swelling, trouble breathing AMBULATE/AMBULATION/AMBULATORY walk, able to walk ANAPHYLAXIS serious, potentially life-threatening allergic reaction ANEMIA decreased red blood cells; low red cell blood count ANESTHETIC a drug or agent used to decrease the feeling of pain, or eliminate the feeling of pain by putting you to sleep ANGINA pain resulting from not enough blood flowing to the heart ANGINA PECTORIS pain resulting from not enough blood flowing to the heart ANOREXIA disorder in which person will not eat; lack of appetite ANTECUBITAL related to the inner side of the forearm ANTIBODY protein made in the body in response to foreign substance ANTICONVULSANT drug used to prevent seizures ANTILIPEMIC a drug that lowers fat levels in the blood ANTITUSSIVE a drug used to relieve coughing ARRHYTHMIA abnormal heartbeat; any change from the normal heartbeat ASPIRATION fluid entering the lungs, such as after vomiting ASSAY lab test ASSESS to learn about, measure, evaluate, look at ASTHMA lung disease associated with tightening of air passages, making breathing difficult ASYMPTOMATIC without symptoms AXILLA armpit

BENIGN not malignant, without serious consequences BID twice a day BINDING/BOUND carried by, to make stick together, transported BIOAVAILABILITY the extent to which a drug or other substance becomes available to the body BLOOD PROFILE series of blood tests BOLUS a large amount given all at once BONE MASS the amount of calcium and other minerals in a given amount of bone BRADYARRHYTHMIAS slow, irregular heartbeats BRADYCARDIA slow heartbeat BRONCHOSPASM breathing distress caused by narrowing of the airways

CARCINOGENIC cancer-causing CARCINOMA type of cancer CARDIAC related to the heart CARDIOVERSION return to normal heartbeat by electric shock CATHETER a tube for withdrawing or giving fluids CATHETER a tube placed near the spinal cord and used for anesthesia (indwelling epidural) during surgery CENTRAL NERVOUS SYSTEM (CNS) brain and spinal cord CEREBRAL TRAUMA damage to the brain CESSATION stopping CHD coronary heart disease CHEMOTHERAPY treatment of disease, usually cancer, by chemical agents CHRONIC continuing for a long time, ongoing CLINICAL pertaining to medical care CLINICAL TRIAL an experiment involving human subjects COMA unconscious state COMPLETE RESPONSE total disappearance of disease CONGENITAL present before birth CONJUNCTIVITIS redness and irritation of the thin membrane that covers the eye CONSOLIDATION PHASE treatment phase intended to make a remission permanent (follows induction phase) CONTROLLED TRIAL research study in which the experimental treatment or procedure is compared to a standard (control) treatment or procedure COOPERATIVE GROUP association of multiple institutions to perform clinical trials CORONARY related to the blood vessels that supply the heart, or to the heart itself CT SCAN (CAT) computerized series of x-rays (computerized tomography) CULTURE test for infection, or for organisms that could cause infection CUMULATIVE added together from the beginning CUTANEOUS relating to the skin CVA stroke (cerebrovascular accident)

DERMATOLOGIC pertaining to the skin DIASTOLIC lower number in a blood pressure reading DISTAL toward the end, away from the center of the body DIURETIC "water pill" or drug that causes increase in urination DOPPLER device using sound waves to diagnose or test DOUBLE BLIND study in which neither investigators nor subjects know what drug or treatment the subject is receiving DYSFUNCTION state of improper function DYSPLASIA abnormal cells

ECHOCARDIOGRAM sound wave test of the heart EDEMA excess fluid collecting in tissue EEG electric brain wave tracing (electroencephalogram) EFFICACY effectiveness ELECTROCARDIOGRAM electrical tracing of the heartbeat (ECG or EKG) ELECTROLYTE IMBALANCE an imbalance of minerals in the blood EMESIS vomiting EMPIRIC based on experience ENDOSCOPIC EXAMINATION viewing an internal part of the body with a lighted tube ENTERAL by way of the intestines EPIDURAL outside the spinal cord ERADICATE get rid of (such as disease) Page 2 of 7 EVALUATED, ASSESSED examined for a medical condition EXPEDITED REVIEW rapid review of a protocol by the IRB Chair without full committee approval, permitted with certain low-risk research studies EXTERNAL outside the body EXTRAVASATE to leak outside of a planned area, such as out of a blood vessel

FDA U.S. Food and Drug Administration, the branch of federal government that approves new drugs FIBROUS having many fibers, such as scar tissue FIBRILLATION irregular beat of the heart or other muscle

GENERAL ANESTHESIA pain prevention by giving drugs to cause loss of consciousness, as during surgery GESTATIONAL pertaining to pregnancy

HEMATOCRIT amount of red blood cells in the blood HEMATOMA a bruise, a black and blue mark HEMODYNAMIC MEASURING blood flow HEMOLYSIS breakdown in red blood cells HEPARIN LOCK needle placed in the arm with blood thinner to keep the blood from clotting HEPATOMA cancer or tumor of the liver HERITABLE DISEASE can be transmitted to one’s offspring, resulting in damage to future children HISTOPATHOLOGIC pertaining to the disease status of body tissues or cells HOLTER MONITOR a portable machine for recording heart beats HYPERCALCEMIA high blood calcium level HYPERKALEMIA high blood potassium level HYPERNATREMIA high blood sodium level HYPERTENSION high blood pressure HYPOCALCEMIA low blood calcium level HYPOKALEMIA low blood potassium level HYPONATREMIA low blood sodium level HYPOTENSION low blood pressure HYPOXEMIA a decrease of oxygen in the blood HYPOXIA a decrease of oxygen reaching body tissues HYSTERECTOMY surgical removal of the uterus, ovaries (female sex glands), or both uterus and ovaries

IATROGENIC caused by a physician or by treatment IDE investigational device exemption, the license to test an unapproved new medical device IDIOPATHIC of unknown cause IMMUNITY defense against, protection from IMMUNOGLOBIN a protein that makes antibodies IMMUNOSUPPRESSIVE drug which works against the body's immune (protective) response, often used in transplantation and diseases caused by immune system malfunction IMMUNOTHERAPY giving of drugs to help the body's immune (protective) system; usually used to destroy cancer cells IMPAIRED FUNCTION abnormal function IMPLANTED placed in the body IND investigational new drug, the license to test an unapproved new drug INDUCTION PHASE beginning phase or stage of a treatment INDURATION hardening INDWELLING remaining in a given location, such as a catheter INFARCT death of tissue due to lack of blood supply INFECTIOUS DISEASE transmitted from one person to the next INFLAMMATION swelling that is generally painful, red, and warm INFUSION slow injection of a substance into the body, usually into the blood by means of a catheter INGESTION eating; taking by mouth INTERFERON drug which acts against viruses; antiviral agent INTERMITTENT occurring (regularly or irregularly) between two time points; repeatedly stopping, then starting again INTERNAL within the body INTERIOR inside of the body INTRAMUSCULAR into the muscle; within the muscle INTRAPERITONEAL into the abdominal cavity INTRATHECAL into the spinal fluid INTRAVENOUS (IV) through the vein INTRAVESICAL in the bladder INTUBATE the placement of a tube into the airway INVASIVE PROCEDURE puncturing, opening, or cutting the skin INVESTIGATIONAL NEW DRUG (IND) a new drug that has not been approved by the FDA INVESTIGATIONAL METHOD a treatment method which has not been proven to be beneficial or has not been accepted as standard care ISCHEMIA decreased oxygen in a tissue (usually because of decreased blood flow)

LAPAROTOMY surgical procedure in which an incision is made in the abdominal wall to enable a doctor to look at the organs inside LESION wound or injury; a diseased patch of skin LETHARGY sleepiness, tiredness LEUKOPENIA low white blood cell count LIPID fat LIPID CONTENT fat content in the blood LIPID PROFILE (PANEL) fat and cholesterol levels in the blood LOCAL ANESTHESIA creation of insensitivity to pain in a small, local area of the body, usually by injection of numbing drugs LOCALIZED restricted to one area, limited to one area LUMEN the cavity of an organ or tube (e.g., blood vessel) LYMPHANGIOGRAPHY an x-ray of the lymph nodes or tissues after injecting dye into lymph vessels (e.g., in feet) LYMPHOCYTE a type of white blood cell important in immunity (protection) against infection LYMPHOMA a cancer of the lymph nodes (or tissues)

MALAISE a vague feeling of bodily discomfort, feeling badly MALFUNCTION condition in which something is not functioning properly MALIGNANCY cancer or other progressively enlarging and spreading tumor, usually fatal if not successfully treated MEDULLABLASTOMA a type of brain tumor MEGALOBLASTOSIS change in red blood cells METABOLIZE process of breaking down substances in the cells to obtain energy METASTASIS spread of cancer cells from one part of the body to another METRONIDAZOLE drug used to treat infections caused by parasites (invading organisms that take up living in the body) or other causes of anaerobic infection (not requiring oxygen to survive) MI myocardial infarction, heart attack MINIMAL slight MINIMIZE reduce as much as possible Page 4 of 7 MONITOR check on; keep track of; watch carefully MOBILITY ease of movement MORBIDITY undesired result or complication MORTALITY death MOTILITY the ability to move MRI magnetic resonance imaging, diagnostic pictures of the inside of the body, created using magnetic rather than x-ray energy MUCOSA, MUCOUS MEMBRANE moist lining of digestive, respiratory, reproductive, and urinary tracts MYALGIA muscle aches MYOCARDIAL pertaining to the heart muscle MYOCARDIAL INFARCTION heart attack

NASOGASTRIC TUBE placed in the nose, reaching to the stomach NCI the National Cancer Institute NECROSIS death of tissue NEOPLASIA/NEOPLASM tumor, may be benign or malignant NEUROBLASTOMA a cancer of nerve tissue NEUROLOGICAL pertaining to the nervous system NEUTROPENIA decrease in the main part of the white blood cells NIH the National Institutes of Health NONINVASIVE not breaking, cutting, or entering the skin NOSOCOMIAL acquired in the hospital

OCCLUSION closing; blockage; obstruction ONCOLOGY the study of tumors or cancer OPHTHALMIC pertaining to the eye OPTIMAL best, most favorable or desirable ORAL ADMINISTRATION by mouth ORTHOPEDIC pertaining to the bones OSTEOPETROSIS rare bone disorder characterized by dense bone OSTEOPOROSIS softening of the bones OVARIES female sex glands

PARENTERAL given by injection PATENCY condition of being open PATHOGENESIS development of a disease or unhealthy condition PERCUTANEOUS through the skin PERIPHERAL not central PER OS (PO) by mouth PHARMACOKINETICS the study of the way the body absorbs, distributes, and gets rid of a drug PHASE I first phase of study of a new drug in humans to determine action, safety, and proper dosing PHASE II second phase of study of a new drug in humans, intended to gather information about safety and effectiveness of the drug for certain uses PHASE III large-scale studies to confirm and expand information on safety and effectiveness of new drug for certain uses, and to study common side effects PHASE IV studies done after the drug is approved by the FDA, especially to compare it to standard care or to try it for new uses PHLEBITIS irritation or inflammation of the vein PLACEBO an inactive substance; a pill/liquid that contains no medicine PLACEBO EFFECT improvement seen with giving subjects a placebo, though it contains no active drug/treatment PLATELETS small particles in the blood that help with clotting POTENTIAL possible POTENTIATE increase or multiply the effect of a drug or toxin (poison) by giving another drug or toxin at the same time (sometimes an unintentional result) POTENTIATOR an agent that helps another agent work better PRENATAL before birth PROPHYLAXIS a drug given to prevent disease or infection PER OS (PO) by mouth PRN as needed PROGNOSIS outlook, probable outcomes PRONE lying on the stomach PROSPECTIVE STUDY following patients forward in time PROSTHESIS artificial part, most often limbs, such as arms or legs PROTOCOL plan of study PROXIMAL closer to the center of the body, away from the end PULMONARY pertaining to the lungs

QD every day; daily QID four times a day

RADIATION THERAPY x-ray or cobalt treatment RANDOM by chance (like the flip of a coin) RANDOMIZATION chance selection RBC red blood cell RECOMBINANT formation of new combinations of genes RECONSTITUTION putting back together the original parts or elements RECUR happen again REFRACTORY not responding to treatment REGENERATION re-growth of a structure or of lost tissue REGIMEN pattern of giving treatment RELAPSE the return of a disease REMISSION disappearance of evidence of cancer or other disease RENAL pertaining to the kidneys REPLICABLE possible to duplicate RESECT remove or cut out surgically RETROSPECTIVE STUDY looking back over past experience

SARCOMA a type of cancer SEDATIVE a drug to calm or make less anxious SEMINOMA a type of testicular cancer (found in the male sex glands) SEQUENTIALLY in a row, in order SOMNOLENCE sleepiness SPIROMETER an instrument to measure the amount of air taken into and exhaled from the lungs STAGING an evaluation of the extent of the disease STANDARD OF CARE a treatment plan that the majority of the medical community would accept as appropriate STENOSIS narrowing of a duct, tube, or one of the blood vessels in the heart STOMATITIS mouth sores, inflammation of the mouth STRATIFY arrange in groups for analysis of results (e.g., stratify by age, sex, etc.) STUPOR stunned state in which it is difficult to get a response or the attention of the subject SUBCLAVIAN under the collarbone SUBCUTANEOUS under the skin SUPINE lying on the back SUPPORTIVE CARE general medical care aimed at symptoms, not intended to improve or cure underlying disease SYMPTOMATIC having symptoms SYNDROME a condition characterized by a set of symptoms SYSTOLIC top number in blood pressure; pressure during active contraction of the heart

TERATOGENIC capable of causing malformations in a fetus (developing baby still inside the mother’s body) TESTES/TESTICLES male sex glands THROMBOSIS clotting THROMBUS blood clot TID three times a day TITRATION a method for deciding on the strength of a drug or solution; gradually increasing the dose T-LYMPHOCYTES type of white blood cells TOPICAL on the surface TOPICAL ANESTHETIC applied to a certain area of the skin and reducing pain only in the area to which applied TOXICITY side effects or undesirable effects of a drug or treatment TRANSDERMAL through the skin TRANSIENTLY temporarily TRAUMA injury; wound TREADMILL walking machine used to test heart function

UPTAKE absorbing and taking in of a substance by living tissue

VALVULOPLASTY plastic repair of a valve, especially a heart valve VARICES enlarged veins VASOSPASM narrowing of the blood vessels VECTOR a carrier that can transmit disease-causing microorganisms (germs and viruses) VENIPUNCTURE needle stick, blood draw, entering the skin with a needle VERTICAL TRANSMISSION spread of disease

WBC white blood cell

The state of EV charging in America: Harvard research shows chargers 78% reliable and pricing like the ‘Wild West’

Featuring Omar Asensio . By Barbara DeLollis and Glen Justice on June 26, 2024 .

BiGS Actionable Intelligence:

BOSTON — New data-driven research led by a Harvard Business School fellow reveals a significant obstacle to increasing electric vehicle (EV) sales and decreasing carbon emissions in the United States: owners’ deep frustration with the state of charging infrastructure, including unreliability, erratic pricing, and lack of charging locations.

The research proves that frustration extends beyond “range anxiety,” the common fear that EV batteries won't maintain enough charge to reach a destination. Current EV drivers don’t see that as a dominant issue. Instead, many have "charge anxiety," a fear about keeping an EV powered and moving, according to scholar Omar Asensio, the climate fellow at HBS’s Institute for the Study of Business in Global Society (BiGS) who led the study.

Asensio’s research is based on a first-ever examination of more than 1 million charging station reviews by EV drivers across North America, Europe, and Asia written over 10 years. In their reviews, these drivers described how they regularly encounter broken and malfunctioning chargers, erratic and secretive pricing, and even “charging deserts” — entire counties in states such as Washington and Virginia that don’t have a single public charger and that have even lost previously available chargers. EV drivers also routinely watch gas-engine vehicle drivers steal parking spots reserved for EV charging.

Asensio said that listening to the current drivers — owners rather than potential buyers — provides a new window on the state of America’s charging system because drivers are incredibly candid about their experiences.

“It’s different than what any one company or network would want you to believe,” said Asensio, who is also an associate professor at the Georgia Institute of Technology . He added that most charging providers don’t share their data and have few regulatory incentives to do so.

Research: EV chargers less reliable than gas pumps

One of the study’s main findings, discovered using customized artificial intelligence (AI) models trained on EV review data, is that charging stations in the U.S. have an average reliability score of only 78%, meaning that about one in five don’t work. They are, on average, less reliable than regular gas stations, Asensio said. “Imagine if you go to a traditional gas station and two out of 10 times the pumps are out of order,” he said. “Consumers would revolt.”

Elizabeth Bruce, director, Microsoft Innovation and Society, said, "This project is a great example of how increasing access to emerging AI technologies enables researchers to better understand how we can build a more sustainable and equitable society.”

Asensio’s research is timely as U.S. policymakers, entrepreneurs, automakers such as General Motors and Tesla , and others grapple with how to develop the nation’s charging network, who should finance it, and who should maintain it. Because charging influences vehicle sales and the ability to meet emissions targets, it’s a serious question. EV sales have climbed, topping 1 million in 2023, but concerns over batteries and charging could slow that growth.

Today, there are more than 64,000 public EV charging stations in the U.S., according to the U.S. Department of Energy's Alternative Fuels Data Center. Experts say that the nation needs many times more to make a smooth, sustainable, and equitable transition away from gas-powered vehicles — and to minimize the anxiety surrounding EVs.

“I couldn’t even convince my mother to buy an EV recently,” Asensio said. “Her decision wasn’t about the price. She said charging isn’t convenient enough yet to justify learning an entirely new way of driving.”

Reviews give voice to 1 million drivers

An economist and engineer by training, Asensio has been studying EV infrastructure since its infancy in 2010. At that time, the consensus among experts was that the private sector would finance a flourishing charging network, Asensio said. But that didn’t happen at the scale expected, which sparked his curiosity about how the charging market would emerge at points of interest rather than only near highways.

To get answers, Asensio focused on consumer reviews “because they offer objective, unsolicited evidence of peoples’ experience,” he said.

The smartphone apps that EV drivers use to pay for charging sessions allow them to review each station for factors such as functionality and pricing in real-time, much like consumers do on Yelp or Amazon. Asensio and his team, supported by Microsoft and National Science Foundation awards, spent years building models and training AI tools to extract insights and make predictions from drivers leaving these reviews in more than 72 languages.

Until now, this type of data hasn’t existed anywhere, leaving consumers, policymakers, and business leaders — including auto industry executives — in the dark.

Research reveals five facts about EV life

Here are some of the top findings from Asensio’s research about public EV charging stations:

Reliability problems. EV drivers often find broken equipment, making charging unreliable at best and simply not as easy as the old way of topping off a tank of gas. The reason? “No one’s maintaining these stations,” Asensio said. Entrepreneurs are already stepping in with a solution. For example, at Harvard Business School’s climate conference in April 2023, ChargerHelp! Co-founder Evette Ellis explained that her Los Angeles-based technology startup trains people to operate and maintain public charging stations. But until quality control improves nationwide, drivers will likely continue to encounter problems.

Driver clashes. One consumer complaint that surprised Asensio was a mysterious gripe from drivers about “getting ICE’d.” The researchers didn’t know what it meant, so they did some digging and discovered that ICE stands for “internal combustion engine.” EV drivers adopted the term to grouse about gas-fueled car drivers stealing their public EV charger spots for parking.

Price confusion. Drivers are vexed by the pricing they encounter at public charging stations, which are owned by a mix of providers, follow different pricing models, and do not regularly disclose pricing information. The result is often surprises on the road. As one reviewer wrote, “$21.65 to charge!!!!!!! Holy moly!!!! Don’t come here unless you are desperate!!”

Equity questions. Public charging stations are not equally distributed across the U.S., concentrated more heavily in large population centers and wealthy communities and less so in rural areas and smaller cities. The result is that drivers have disparate experiences, well-served in some areas and starved in others. Some parts of the country have become “charging deserts,” with no station at all.

Commercial questions. Commercial drivers in many areas can’t find enough public EV charging stations to reliably charge their cars. Here too, drivers are having very different experiences, well-supplied in some areas and not in others.

‘Wild West’ pricing is a major pain point

The research shows that EV drivers are dissatisfied with EV charging station pricing models, likening the situation to the “Wild West.” Indeed, vehicle charging is both unregulated and non-transparent.

Pricing can vary substantially by facility, level of demand, time of day, and other factors, including the type of charger available. A 45-minute fast charger may have one price, while a traditional charger that takes 3 to 5 hours may have another. Pricing can also change by the hour, based on market conditions.

Unlike traditional gas stations, which often display fuel prices on lighted signs, EV stations rarely advertise what charging will cost. Drivers often arrive without any information on what to expect or how to make comparisons, because there’s no reliable way for consumers to find the most cost-effective places to charge. “The government has a source that lists all locations, but not in real-time,” Asensio said. “You might need five different apps to figure it out.”

The driver reviews in Asensio’s data reflect the irritation caused by the current system. “People are getting frustrated because they don’t feel like they’re getting their money’s worth,” he said.

Why is the charging network so opaque? Research conducted by Asensio and his colleagues in 2021 found that charging station hosts, in the absence of regulation, have no incentive to share data — and they don’t. Station hosts are typically privately owned, highly decentralized, not well-monitored, and have highly varied patterns of demand and pricing.

The lack of transparency prevents researchers — and journalists — from investigating trends. In stark contrast to headlines trumpeting the ups and downs of gas prices, news organizations are not reporting on differential pricing among EV charging stations.

‘Charging deserts’ emerge

With municipal, state, and federal governments all pushing to increase the number of electric vehicles on the road and decrease carbon emissions, experts agree that America will need more charging stations — a lot more.

Looking only at Level 2 chargers, which top off an EV battery in 3 to 5 hours and are the most common type, S&P Global Mobility estimates a need for 1.2 million nationwide by 2027 and almost twice that by 2030. That’s in addition to in-home chargers.

Of course, that assumes robust growth in EV sales. “The transition to a vehicle market dominated by electric vehicles (EVs) will take years to fully develop, but it has begun,” said Ian McIlravey, an analyst at S&P. “With the transition comes a need to evolve the public vehicle charging network, and today's charging infrastructure is insufficient to support a drastic increase in the number of EVs in operation.”

Making matters more difficult, the chargers that do exist are not evenly distributed. Predictably, the places with the most public chargers installed are those with the highest number of registered electric vehicles, including states like California, Florida, and Texas. Yet, even as the federal government invests billions in new charging stations, many of them along major transportation corridors, places are left behind.

Asensio’s research shows that small urban centers and rural areas attract fewer public charging stations, and in some cases, there are “charging deserts” with no facilities at all — and they may not be where you think.

For example, electric vehicles are popular in Washington state, which ranked fourth in number of EV registrations and sixth in number of public charging stations in 2023. Yet Ferry County , an area outside Spokane with about 7,500 residents, where the average commute is 25 minutes and the median income is about $46,000, had only one charging station for several years. And now there are none.

Similarly, Virginia ranked 11th in EV registrations and 13th in public chargers in 2023. There, researchers found Wise County, an area outside Roanoke and Knoxville, Tennessee, with about 3,500 residents and a median income of almost $45,000. The county has an average commute time of 22 minutes, but there are no public charging stations available.

EV charging presents a classic “chicken and egg” situation, begging the question of whether cars or charging facilities must come first. However, a lack of public charging in areas like Ferry County and Wise County makes electric vehicle adoption difficult.

As American drivers debate whether to swap their gas-powered vehicles for EVs and lower emissions, Asensio said research should play a larger role. Policymakers, auto manufacturers, entrepreneurs, and investors need more and better data to build infrastructure where it’s needed, provide reliable charging, and facilitate EV sales.

“How [else] can we make effective decisions about the economics of EVs?” Asensio said.

General Motors: ‘Anxiety around EV charging’

Omar Vargas, head of public policy at General Motors, emphasized the importance of public EV charging infrastructure to driving EV adoption during an interview with The BiGS Fix at one of BiGS’ business leadership roundtables in Northern Virginia.

“We're looking at what are the best places to install an EV charging station for a community,” Vargas said. “The anxiety around EV charging is an inhibitor to EV adoption.”

Beyond the public investment in rolling out charging infrastructure, GM (whose brands include Chevrolet and Cadillac) has committed $750 million in private capital to the development of EV charging stations. It is partnering with car dealerships and other companies. For instance, GM is testing charging stations at Flying J rest stops.

GM, which reported full-year revenue of $171.8 billion for 2023 , also is joining community partnership efforts that are being formed to secure federal dollars through state and local governments. “We're helping that kind of planning, and we're pretty confident that in the next couple of years, we're going to have a vigorous EV charging network in the United States,” Vargas said.

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The secret digital behaviors of Gen Z

Google studied Gen Z's actions online. What they found is alarming.

Gen Z has come of age swimming in a gloppy stew of digital content. Every day they navigate memes, photos, social media, chats with their friends, flashes of video, influencers influencing , news articles from a zillion places across the net. How do America's teens and youngest adults sort through all that digitized gunk to determine what's important, or useful, or true?

A lot of folks would love to know. Social networks want young users . Media outlets want subscribers . Politicians want votes . Professors want to know why their students won't read books . Everyone, it seems, has a stake in understanding Kids These Days.

Over the past couple of years, researchers at Jigsaw, a Google subsidiary that focuses on online politics and polarization, have been studying how Gen Zers digest and metabolize what they see online. The researchers were hoping that their work would provide one of the first in-depth, ethnographic studies of Gen Z's "information literacy." But the minute they started, their most fundamental assumption about the nature of digital information came crashing down.

"Within a week of actual research, we just threw out the term information literacy ," says Yasmin Green, Jigsaw's CEO. Gen Zers, it turns out, are "not on a linear journey to evaluate the veracity of anything." Instead, they're engaged in what the researchers call "information sensibility" — a "socially informed" practice that relies on "folk heuristics of credibility." In other words, Gen Zers know the difference between rock-solid news and AI-generated memes. They just don't care .

Jigsaw's findings offer a revealing glimpse into the digital mindset of Gen Z . Where older generations are out there struggling to fact-check information and cite sources, Gen Zers don't even bother. They just read the headlines and then speed-scroll to the comments, to see what everyone else says. They're outsourcing the determination of truth and importance to like-minded, trusted influencers. And if an article's too long, they just skip it. They don't want to see stuff that might force them to think too hard, or that upsets them emotionally. If they have a goal, Jigsaw found, it's to learn what they need to know to remain cool and conversant in their chosen social groups.

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Through our Discourse journalism, Business Insider seeks to explore and illuminate the day’s most fascinating issues and ideas. Our writers provide thought-provoking perspectives, informed by analysis, reporting, and expertise. Read more Discourse stories here .

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Business research: what it is & how to use it for business results.

10 min read What is business research and why does it matter? Here are some of the ways business research can be helpful to your company, whichever method you choose to carry it out.

What is business research?

Business research helps companies make better business decisions by gathering information. The scope of the term business research is quite broad – it acts as an umbrella that covers every aspect of business, from finances to advertising creative. It can include research methods which help a company better understand its target market. It could focus on customer experience and assess customer satisfaction levels. Or it could involve sizing up the competition through competitor research.

Often when carrying out business research, companies are looking at their own data, sourced from their employees, their customers and their business records. However, business researchers can go beyond their own company in order to collect relevant information and understand patterns that may help leaders make informed decisions. For example, a business may carry out ethnographic research where the participants are studied in the context of their everyday lives, rather than just in their role as consumer, or look at secondary data sources such as open access public records and empirical research carried out in academic studies.

There is also a body of knowledge about business in general that can be mined for business research purposes. For example organisational theory and general studies on consumer behaviour.

Free ebook: 2024 Global Consumer Trends Report

Why is business research important?

We live in a time of high speed technological progress and hyper-connectedness. Customers have an entire market at their fingertips and can easily switch brands if a competitor is offering something better than you are. At the same time, the world of business has evolved to the point of near-saturation. It’s hard to think of a need that hasn’t been addressed by someone’s innovative product or service.

The combination of ease of switching, high consumer awareness and a super-evolved marketplace crowded with companies and their offerings means that businesses must do whatever they can to find and maintain an edge. Business research is one of the most useful weapons in the fight against business obscurity, since it allows companies to gain a deep understanding of buyer behaviour and stay up to date at all times with detailed information on their market.

Thanks to the standard of modern business research tools and methods, it’s now possible for business analysts to track the intricate relationships between competitors, financial markets, social trends, geopolitical changes, world events, and more.

Find out how to conduct your own market research and make use of existing market research data with our Ultimate guide to market research

Types of business research

Business research methods vary widely, but they can be grouped into two broad categories – qualitative research and quantitative research .

Qualitative research methods

Qualitative business research deals with non-numerical data such as people’s thoughts, feelings and opinions. It relies heavily on the observations of researchers, who collect data from a relatively small number of participants – often through direct interactions.

Qualitative research interviews take place one-on-one between a researcher and participant. In a business context, the participant might be a customer, a supplier, an employee or other stakeholder. Using open-ended questions , the researcher conducts the interview in either a structured or unstructured format. Structured interviews stick closely to a question list and scripted phrases, while unstructured interviews are more conversational and exploratory. As well as listening to the participant’s responses, the interviewer will observe non-verbal information such as posture, tone of voice and facial expression.

Focus groups

Like the qualitative interview, a focus group is a form of business research that uses direct interaction between the researcher and participants to collect data. In focus groups, a small number of participants (usually around 10) take part in a group discussion led by a researcher who acts as moderator. The researcher asks questions and takes note of the responses, as in a qualitative research interview. Sampling for focus groups is usually purposive rather than random, so that the group members represent varied points of view.

Observational studies

In an observational study, the researcher may not directly interact with participants at all, but will pay attention to practical situations, such as a busy sales floor full of potential customers, or a conference for some relevant business activity. They will hear people speak and watch their interactions , then record relevant data such as behaviour patterns that relate to the subject they are interested in. Observational studies can be classified as a type of ethnographic research. They can be used to gain insight about a company’s target audience in their everyday lives, or study employee behaviours in actual business situations.

Ethnographic Research

Ethnographic research is an immersive design of research where one observes peoples’ behaviour in their natural environment. Ethnography was most commonly found in the anthropology field and is now practices across a wide range of social sciences.

Ethnography is used to support a designer’s deeper understanding of the design problem – including the relevant domain, audience(s), processes, goals and context(s) of use.

The ethnographic research process is a popular methodology used in the software development lifecycle. It helps create better UI/UX flow based on the real needs of the end-users.

If you truly want to understand your customers’ needs, wants, desires, pain-points “walking a mile” in their shoes enables this. Ethnographic research is this deeply rooted part of research where you truly learn your target audiences’ problem to craft the perfect solution.

Case study research

A case study is a detailed piece of research that provides in depth knowledge about a specific person, place or organisation. In the context of business research, case study research might focus on organisational dynamics or company culture in an actual business setting, and case studies have been used to develop new theories about how businesses operate. Proponents of case study research feel that it adds significant value in making theoretical and empirical advances. However its detractors point out that it can be time consuming and expensive, requiring highly skilled researchers to carry it out.

Quantitative research methods

Quantitative research focuses on countable data that is objective in nature. It relies on finding the patterns and relationships that emerge from mass data – for example by analysing the material posted on social media platforms, or via surveys of the target audience. Data collected through quantitative methods is empirical in nature and can be analysed using statistical techniques. Unlike qualitative approaches, a quantitative research method is usually reliant on finding the right sample size, as this will determine whether the results are representative. These are just a few methods – there are many more.

Surveys are one of the most effective ways to conduct business research. They use a highly structured questionnaire which is distributed to participants, typically online (although in the past, face to face and telephone surveys were widely used). The questions are predominantly closed-ended, limiting the range of responses so that they can be grouped and analysed at scale using statistical tools. However surveys can also be used to get a better understanding of the pain points customers face by providing open field responses where they can express themselves in their own words. Both types of data can be captured on the same questionnaire, which offers efficiency of time and cost to the researcher.

Correlational research

Correlational research looks at the relationship between two entities, neither of which are manipulated by the researcher. For example, this might be the in-store sales of a certain product line and the proportion of female customers subscribed to a mailing list. Using statistical analysis methods, researchers can determine the strength of the correlation and even discover intricate relationships between the two variables. Compared with simple observation and intuition, correlation may identify further information about business activity and its impact, pointing the way towards potential improvements and more revenue.

Experimental research

It may sound like something that is strictly for scientists, but experimental research is used by both businesses and scholars alike. When conducted as part of the business intelligence process, experimental research is used to test different tactics to see which ones are most successful – for example one marketing approach versus another. In the simplest form of experimental research, the researcher identifies a dependent variable and an independent variable. The hypothesis is that the independent variable has no effect on the dependent variable, and the researcher will change the independent one to test this assumption. In a business context, the hypothesis might be that price has no relationship to customer satisfaction. The researcher manipulates the price and observes the C-Sat scores to see if there’s an effect.

The best tools for business research

You can make the business research process much quicker and more efficient by selecting the right tools. Business research methods like surveys and interviews demand tools and technologies that can store vast quantities of data while making them easy to access and navigate. If your system can also carry out statistical analysis, and provide predictive recommendations to help you with your business decisions, so much the better.

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Related resources

Qualitative research design 12 min read, qualitative vs quantitative research 13 min read, video in qualitative research 10 min read, correlation research 11 min read, market intelligence tools 10 min read, qualitative research questions 11 min read, primary vs secondary research 14 min read, request demo.

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PDF An Introduction to Business Research
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The Importance of Business Research: Understanding Its Value for
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Business research helps companies make better business decisions by gathering information. The scope of the term business research is quite broad - it acts as an umbrella that covers every aspect of business, from finances to advertising creative. It can include research methods which help a company better understand its target market.
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INTRODUCTION. The increasing demand for business school education alongside the need for academic research to improve business and organisational practices has entrenched business schools as significant knowledge-producing bodies within higher education institutions across the world (Durand & Dameron, 2011).Simultaneously, business schools have become entities in their own right to be ...
Importance of research in business
Provides the latest information and updates. Change happens constantly and it is important to keep up with trends. Having research set in place keeps the business well-informed to relay the best information and meet customer demands. Retains and introduces customers. To keep a business alive, knowledge of key demographics is important in ...
Research Proposals: The Significance of the Study
The research proposal is a written docu ment which specifies what the researcher intends to study and sets forth the plan or design for answering the research ques tion(s). Frequently investigators seek funding support in order to implement the proposed research. There are a variety of funding sources that sponsor research.
The Importance of Market and Marketing Research in Business
Market Research vs. Marketing Research. Market research involves identifying a specific "target," and focusing exclusively on that group. It is research into a narrow group of consumers to understand their behavior and motivation. Marketing research has a broader scope that market research. It is used to examine the entire marketing process of ...
Establishing Rationale and Significance of Research
Abstract. This chapter builds on the first five chapters in this handbook that explained the research design typology. The focus here is on establishing rationale and significance of research. This chapter is intended to serve as a guide for practitioners to apply and integrate the research design typology layers into a scholarly manuscript.
(PDF) Applying Qualitative Approach in Business Research
An important caveat is to understand that the aim of ... Asian Journal of Business Research, Volume 11, Issue 3, 2021 ... In this study, mixed-methods research was conducted, consisting of ...
Why Culture Matters in Business Research
The study of workplace culture is important for business research to ascertain the construct of the successful organization. The article begins with a discussion about culture, relates culture to the workplace, and ends relating important business research to workplace culture. The intended audience is business management majors and instructors ...
5 Reasons Why Research is Important in Business
To Better Understand Your Customers. Identifies Problem Areas. Beneficial in Comparative Studies. Helps Design New Business Opportunities. Minimizes Loss. The utilization of research through a WordPress survey tool is greatly beneficial to the evolution and the further development of a business. By exerting efforts in gathering data through ...
Research: Using AI at Work Makes Us Lonelier and Less Healthy
Joel Koopman is the TJ Barlow Professor of Business Administration at the Mays Business School of Texas A&M University. His research interests include prosocial behavior, organizational justice ...
Exploring holistic care approach for early-stage dementia: a grounded
Commentary on: Kung PC, Huang HL, Hsu WC, et al . Coexisting with anomie: Experiences of persons living with early-stage dementia: A grounded theory study. Int J Ment Health Nurs 2024;33(2):452-462. ### Implications for practice and research Dementia, recently renamed as 'major neurocognitive disorder', manifests with a multitude of symptoms leading to varying disease progression and ...
Medical Terms in Lay Language
PHARMACOKINETICS the study of the way the body absorbs, distributes, and gets rid of a drug PHASE I first phase of study of a new drug in humans to determine action, safety, and proper dosing PHASE II second phase of study of a new drug in humans, intended to gather information about safety and effectiveness of the drug for certain uses
The state of EV charging in America: Harvard research shows chargers 78
BOSTON — New data-driven research led by a Harvard Business School fellow reveals a significant obstacle to increasing electric vehicle (EV) sales and decreasing carbon emissions in the United States: owners' deep frustration with the state of charging infrastructure, including unreliability, erratic pricing, and lack of charging locations.. The research proves that frustration extends ...
Gen Z's Most Trusted Source for News: Online ...
A recent study from the Pew Research Center found that most users on Facebook, Instagram, X, and TikTok encounter news frequently. On X, it most often comes from the media outlets and journalists ...
Summary of the Research Proposal (docx)
### Summary of the Research Proposal **Title:** Artificial Intelligence in Digital Image Processing: Applications and Implications for Business Decision- Making **Background and Importance:** Artificial Intelligence (AI) has significantly transformed digital image processing, improving business decision-making across various sectors such as retail, manufacturing, and healthcare.
Business Research: How to Use it to See Results
In the context of business research, case study research might focus on organisational dynamics or company culture in an actual business setting, and case studies have been used to develop new theories about how businesses operate. Proponents of case study research feel that it adds significant value in making theoretical and empirical advances.

Business Research Methods by Emma Bell
Business Research Methods by Donald R. Cooper
Essentials of Business Research Methods by Joseph F. Hair Jr
Management and Business Research by SAGE Publications
Data Analysis in Business Research by D Isarel


	USA	20 Months	=1
Stanford Graduate School of Business	USA	2 Years	1
	Multiple Campuses	10 Months	6
	USA	2 Years	3
	USA	2 Years	5
	UK	15-21 Months	7
	France	16 Months	5
	USA	21 Months	11=
IESE Business School	Spain	15/19 Months	11=
Judge Business School	UK	1 Year	15
Saïd Business School	UK	1 Year	16
ESADE Business School	Spain	12/15/18 Months	13
Yale School of Management	USA	2 Years	17=
Imperial College Business School	UK	1 Year	22
	Italy	1 Year	23

The Importance of Business Research: Understanding Its Value for Management Decisions

What is Business Research?

The Importance of Business Research

1. Identifying Problems and Opportunities

2. Making Informed Decisions

3. Mitigating Risk

4. Improving Customer Satisfaction

5. Staying Ahead of Competitors

Research Methodology for Management Decisions

Business Research: Methods, Types & Examples

Business research: Definition

Business research: Types and methodologies

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Significance of the Study – Examples and Writing Guide

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