Business Research Process Steps
Business Research is essential in any business in order for it to develop and grow and thus follows a series of steps and guidelines.
The first step in the business research process is to define what the problem is.
The problem can range from a variety of things depending on what the company or more particularly the management wants to know or develop. It is important to clearly define the problem in order to assess it accordingly. Once you determine the problem it is also necessary to clarify the problem and determine if this is really what you want the research work to be all about. With this you will also need to analyze the situation and determine the key factors that affect it.
After you have carefully determined the problem and other underlying reasons you may now approach the problem. Start by making an effort to gather more information on it. This may be done through analyzing related issues and their past or present experiences with it. This will help you with your decision making on what roads to take as additional information on the problem is relevant to the result of the overall research. As they always say, the more information and the more things you know about something the better.
As you gather more and more data with regards to your business research you will have to segregate these data and select only those that will be appropriate and relevant to your overall research. You may have an abundant amount of data but you may not be able to utilize them all unless they are of utmost importance to your research. In business research you will have secondary data, experimental data and survey data that you will be collecting in various ways either from your own research or from respondents, all of which essential in helping you solve the problem.
In gathering data you will make use of various measurement techniques that you may utilize according to your preference. The four basic types of measurement techniques are projective interviews and depth interviews, attitude scales, questionnaires and observation. You may make use of one or many depending on how broad you want to expand your research and of course on your timeframe. Following this you will need to apply it to a sample. The sample will be the population relevant to the problem and to which you will be making your estimates and analysis from. Utilize a model of analysis that best fits the details of your sample, measurement technique and overall problem and from there you will be able to properly analyze your data.
Evaluate the data and make appropriate estimates for the finances and time you spend on the overall research process. With this you should remember to continually evaluate the research and keep in mind that it should coincide with the rules of business ethics. Once you have completed your research you may now start preparing your research proposal based on the acquired data and its corresponding analysis.
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