Business Research as it Applies to Retail

Business research is vital to retail business. Being an assistant store manager for Lowe’s Home Improvement means more than just managing people. Assistant store manager’s (ASMs) are responsible for increasing sales, merchandising and marketing of product, managing processes, and managing people. ASMs are also responsible for ensuring that we consistently and efficiently reduce payroll expenses while still creating a seamless and high-performance customer service atmosphere. In order to achieve all of these responsibilities and expectations, ASMs must practice business research processes and use business research to make informed decisions that are best for the company.
Business research can be defined by nine steps. The first step is the purpose of the research must be defined clearly. Defining the purpose will help decipher what the actual reason is without any biased information present. Secondly, the research process must be detailed. The researcher should describe exactly what the purpose of the research is, what the researcher will look at, and what the desired outcome will be. Thirdly, once the research process is detailed, the researcher will then want to thoroughly plan the details of how he will perform the research and also how he will store the findings. Fourth, high ethical standards should be applied. Fifth, limitations should be openly revealed. A question to ask during this step is how do the actual outcomes compare to the desired outcomes? Sixth, adequate analysis should be provided for the decision maker’s needs. Seventh, findings are presented only with logic and research facts. Findings should be conveyed unbiased. Eighth, all conclusions should be justified. Lastly, the researcher’s experience should be reflected within the conclusion.
Within retail, the first three steps are