...Abstract The business research process is an important tool that can help the marketing in a business. By using the steps of this process managers are able to make decisions based on the study of the consumer and target audience. It is also important to identify the competitors in order to stay profitable and competitive. Business Research Process The business research method involves the studying of all parts of a company, the customers, and the market to make important decisions for the business. The strengths and weaknesses of a company are evaluated but especially how a customer views their goods and merchandise. Management studies the competition and the industry that which they are a part of. As part of the management at AZ Alarm Company, I make use of the business research process myself. The first step in this process is to identify the significant competitors in the industry. In the alarm industry it is important to know what other companies are offering so that we stay competitive and bring in new customers while still making a profit. Most of this information is readily available and easy to obtain. The second step in the process is to study the customer or consumer. Doing this enables management to find out what the needs and wants are in order to create new products. By analyzing this information it is also to be determined the amount of money someone is willing to spend on these services. After this information has been gathered it is ready to be analyzed...
Words: 495 - Pages: 2
...The Business Research Process James Mathias RES351 03/10/2014 Dr. Michael Gemignani The Business Research Process Business research in the Air Conditioning field is multi-faceted and extremely helpful in building a successful sales and service team. You have to be able to properly identify your competitors in your market. Companies need to take time and invest in knowing your customer base. Discover your strengths and weaknesses and focus on those elements and market them properly. Constant research and development of strategies that are as dynamic as the technology that moves us is key in building a great A/C company. Why Research the Competition Most people look at a competitor in the market as a bad thing. This is not always the case, with the right research it can be a great selling tool and even an ally in aiding in the sustainability of business practices. Competition is actually a good thing in the Air Conditioning world. We use the information to help target the right kind of products and services for the right time of year. For example, in 2006 the new construction industry was good downhill in sales. This decline in the market was responsible for many Contractors having to close or change the way they do business. The company that I was working for at the time, Corman and Sons Inc., concentrated on the new construction industry. The owner and I did a little market research with the Act Corporation and discovered that the retail contractors...
Words: 823 - Pages: 4
...Experience in the Workplace: Business Research Process Alex Blair RES/351 10/08/ 2012 Daryl Korinek Experience in the Workplace: The Business Research Process As it is related to my personal experience at the restaurant I work, the business research process provides insight to what dishes to continue or not on the menu and current trends in dinning. Every month there is a manager meeting where the management team discusses what trends occurred over the past month as well as what worked and what the customers’ feedback was. One way the restaurant attempts to conduct business research is through social media. On Facebook, management will ask the restaurant’s “friends” questions like “what is your favorite specialty pizza on our buffet,” or “ what menu item can you just not get enough of?” Although the response comes from only a portion of the total customer base, these kinds of polls give insight to what customers want. The better the restaurant can accommodate the customers’ needs, the more profit there is to be made. Taking notice of outdated and decreasingly popular menu items also guides the business. According to "Restaurant Industry Trends" (2010), “we have noted in recent CREST data that some consumers are moving toward more healthful eating,” this is a trend restaurateurs must take notice of. The restaurant reacted by adding a “pizza salad” to the menu as a healthier option, along with gluten free pizzas and whole-wheat spaghetti. The restaurant also removed...
Words: 340 - Pages: 2
...Business Research Process Charlene Cochran William Modey RES/351 June 4, 2012 The business research process is a way for company managers can help learn how to solve problems and keep the company running at its best from collecting data to choosing the right plan for the company and how important the managers role plays in the process. When working as a manager it is important that the manager knows how to deal with day- to- day delimas. He or she must go through the process of planning. The manager must make a plan on how to handle problems he or she must gather data by asking. After that, one must know how to analysis the data to make sure that the information is true and not just hearsay. The manager will put the plan into action to fix any problems. Then he or she will evaluate to see if the plan is working. Because, managers are those that make the decisions of the company he or she must know the research process so that he or she can help solve problems. It also helps managers become better leaders; because once he or she learned how to solve problems he or she can run the company by becoming more in tune with other employees and become a better leader. Manager must also know how to organize by making decision on how to handle any problems that occur. He or she is also in charge of how the employees is working and know if the employees are being productive. He or she must be involved in every aspect of the company to make sure it...
Words: 330 - Pages: 2
...Business Research Process Summary RES/351 Business Research Process Summary The textbook describes the research process as steps to solve a manger’s problem. Starting with discovering the management dilemma, defining the management’s question, and refining the research questions and ending with the management’s decision. Of course, there are several steps in between (Cooper, D. & Schindler, P., 2011). In my personal job experience I have had several encounters with the business research process. Last year I worked in the receiving department at Target. One Day the Receiving Manager approached me to say that our ESIM (Environmentally Sensitive Item Management) needed to be revamped and organized. Following the steps of the research process was able to meet the manager’s request. I defined the manager’s dilemma as the ESIM needing organized. His question was what is the most efficient way to achieve this goal. I was able to conduct research and gain insight on how to approach this dilemma through talking with other employees and also consulting with other store managers. Eventually I was able to put all of my data that I collected together and prepare a solution for the problem. I came up with to use plastic storage tub to separate the different categories of the environmentally sensitive items. This would keep the items for becoming mixed up and causing confusion. After a week or so of analyzing whether or not this technique worked I was able to report back to...
Words: 312 - Pages: 2
...Business Research Process Business Research Process The business research process entails using both primary and secondary shapes of research methods. Primary and secondary forms both use collected data from consumers. Primary research methods collect data, which includes interviews, questionnaires, and surveys directly from the customer. Secondary methods use data collected from journals, magazines, and the Internet; data already collected by someone else. In the new business world increasing customer expectations and worldwide competition require businesses to reach a goal of constantly rising levels of effectiveness, while keeping up adaptability changes in the environment. The major objectives of the business research process are where to sell them, which customers are most likely to buy them, determining what products or services to offer, how to price and promote them. Generally speaking a process can be defined as a process that inputs to increase its value activity or group of activities that take input, and provide output. To achieve these objectives an aiding a company in the business process research multiple steps need to be taken. In order for the steps to be effective the company must use them to develop marketing strategies during the business research process. Additionally, technology and consumers tastes are forever changing. As a result, it is vital to administrate business research process yearly, because business research is a consistent endeavor...
Words: 361 - Pages: 2
...Business Research Process Denise McSalters RES 351 March 2, 2015 Chevell Thomas Pharmaceutical Sales Research Study A look into the reasons behind the pharmaceutical sales industry’s mass layoffs and subsequent hiring binges. In reviewing the article a study of drug company tends is performed by a health care consultancy. Identifying the Research Problem In the article discusses the recent trend of pharmaceutical companies bringing back their sales forces and the primary reasons behind what caused the mass layoffs and hiring. At the time of the mass layoffs the perceptions about the influence of managed care, fear of how federally mandated health care reform, lack of new drug approvals and research and development costs. Executives felt that overall sales force reductions would not have any major effect on their business. At the height of the layoffs some companies slashed their sales forces by ten percent and their payrolls by as much as forty-nine percent. The research problem was to identify the cause of the recent push to hire and increase the size of pharmaceutical companies’ sales forces. The research method used was applied research method, seeking the answer why pharmaceutical companies were doing mass hires of full time and contract sales reps. The researcher, Scott-Levin, a health care consultancy, studied drug company trends to determine that drug company executives...
Words: 507 - Pages: 3
...| | |Business Research process from my past experience | |Class: RES/351 | |Instructor: Prasad Yenumula | |By: Steven Goodwin | |Steven Goodwin@email.phoenix.edu | |EST | | | |June 4, 2012 | |[Pick the date] | | ...
Words: 635 - Pages: 3
...Business Research Process RES/351 Business Research Process In business, a manager must research as a means to assist in the decision making process when faced with a managerial dilemma. The business research process will allow management to base its decision on valuable information that minimizes risk. The process will aid in planning, acquiring, and disseminating relevant data and information to improve on practice and procedure within the organization as well as maximize performance (Cooper & Schindler, 2011). This purpose of this paper is to summarize the business research process as it pertains to my personal experience in the workplace. Working for a Fortune 500 construction company when the economy is so volatile, the potential for new work is questionable and extremely competitive. Until recently, our district did not have new work secured on the books for the upcoming year. This posed a managerial dilemma for upper management. Management questioned what needed to change in order to capture new work. Upper management questioned whether lower level managers needed replacing and if procuring more technology would help. Recognizing the lack of work as a managerial dilemma and the possibility of change as to capture new work make up the first step of the business research process. Defining the research questions and refining those questions led to exploration (Cooper & Schindler, 2011). Once the dilemma was clearly defined, management determined...
Words: 508 - Pages: 3
...Business Research Ethics CHARLES BEDELL RES/351 0CT-08-2012 Dr Debra Bacon Business Research Ethics Webster’s Dictionary defines ethics as a set of moral principles: a theory or system of moral values.”(Merriam-Webster, 2011) Every person has ethics that he or she lives by and sometimes in the business world many unethical business transaction occur. The idea of an unethical business practices to gain a statistical advantage is not a new idea. As the countries economy grows the population begins to see more unethical results. The way this is done is my taking the information that is given about certain product or service and misrepresenting it make it look like a great choice. As the economies begin to boom these practices are often seen more often. I would like to do my paper on the medical research practices. The organization I would like to talk about or evaluate is a pharmaceutical organization that began working with a college professor which he was doing a research project which he was working on a medicine that is related to the drug called influenza. (Dominick &Wimmer, 2010).As part of the business arrangement, the professor requested that research remains confidential and that no one or other parties were to be privy to their finding. The organization agreed to withhold the research and was therefore engaging in unethical research behavior. The pharmaceutical organization withholding research to make sure that acquired larger profits. The victims...
Words: 786 - Pages: 4
...The Business Research Process and Payroll The business research process is the generally outline systematic process by which a company gathers information to make an educated decision or take educated steps to maximize the company’s performance. Though they are truly just put in place to keep the general flow moving forward for business research, and some are omitted, performed more than once, and performed out of order, the basic process outline contains approximately eight steps: (1) Clarifying the Research Question, (2) Research Proposal, (3) Research Design Strategy, (4) Instrument Development and Pilot Testing, (5) Data Collection and Preparation, (6) Data Analysis and Interpretation, (7) Research Reporting, and (8) Management Decision (Cooper & Schindler, 2011, p. 11). CompuPay, Inc, a payroll outsource company, relies mostly on internal business research. Small Internal Research Groups CompuPay conducts much of its research using teams called Areas of Excellence Groups (AEG’s). Management has weekly (or more frequent if needed) conference calls in which they discuss issues in the company and industry. It is on these calls that the first step is completed: clarifying the research question. The dilemma is stated and the questions surrounding the dilemma are formed. They decide how to tackle the research end of the dilemma. Usually, they do so by creating an AEG. The AEG is made up of at least one person from each area of the company to act as a spokesperson...
Words: 500 - Pages: 2
...INTRODUCTION A research can be defined as a systematic way of gathering data, recording it and analyzing it further to guide business decision making. A research is mainly done to handle uncertain decisions and uncontrollable situations. A research always helps the managers in providing useful and timely information. The main purpose of any research is to provide accurate, timely, appropriate and relevant information to the top management for further decision making. A research is mainly done to discover new knowledge or interpretation and establish facts in a particular field. The research process involves various steps that helps the organization to investigate a problem or look for an opportunity facing the organization. The steps...
Words: 1002 - Pages: 5
...Current Event in Business Research Process Nicole Smith RES/351 October 15, 2012 Dr. Sean Kenney Current Event in Business Research Process Business research can be described as a systematic and organized effort to investigate a specific problem encountered in the work setting that needs a solution. It comprises a series of steps designed and executed, with the goal of finding answers to the issues that are of concern to the manager in the work environment. I work for one of the largest Inventory Specialist in the States and has inventory specialist we do a great deal of traveling within the State and sometimes State-to-State. We do inventory for stores like Wal-mart, Kholes, Sears, CVS, 7-11, and many more and our number goal is to provide an accurate count for our customers and not spend a great deal of time in the store. The first step in the research process is to indentifying the problem or dilemma. Our dilemma was employee turnover rate which has went up in the last year. After we identified the issues management came up with a list of questions regarding why employee tuner over was high. Questions like what is the cause, when it started occurring, and what can be done. After identifying the dilemma they collected data from employees to determine a solution to the turnover rate. With the data that gathered they were able to get a better understand of why the turnover rate was so high and come up a solution to lower the turnover rate. The research design for fulfilling...
Words: 455 - Pages: 2
...Literature Review Asking the Right Questions in the Business Research Process Liberty University Abstract This paper seeks to briefly define the topic of business research, then explore the various steps within the associated process while revisiting the issue of what questions are appropriate to ask as the researcher during each of these steps. This will be accomplished by conducting a literary review of the subject in order to gain a general understanding of how the academic community views the business research process. The paper will be divided into two main sections. These main sections include the business research process, and ethical considerations thereof, and research design. By the end of the literary review, the reader should have a good understanding of not only the business research process as a whole, but how to ask the right questions during each step in order to maximize the impact of the study and ultimately lead to better decisions made with the findings. Literature Review Introduction The business research process is one riddled with decision points. Each step comes with many complexities and options that must be carefully considered in order for the researcher to get the best final product possible. From identifying the manager’s question to detailing the wording for a survey to choosing a report format, the researcher must be aware of not only what options are available to him, but also what questions should be asked along...
Words: 6618 - Pages: 27
...Current Events in Business Research The purpose of this summary is to discuss the business research process. Pure and applied areas of the research process are essential. The summary will include a list of steps in the research process, and a description of the business research process from an experience in the workplace. The business research process includes pure and applied research. Pure research does not answer specific questions or solve specific problems (Cooper & Schindler, 2011). Pure research is completed in order to develop knowledge and search into the unknown. For example, an examiner, involved in shaping how employee demographics of on-the-job relate to preference for flexible work schedules, may signify pure research. In applied research, the examiner attempts to resolve a dilemma and find specific answers to questions. Prediction is an example of applied research. Both pure and applied research deals with difficult explanations and problem solving. Business research involves several steps. The most important steps include defining the research problem, collecting data, selecting procedures, analyzing data, and making the right decision. However, that does not indicate each step must be accomplished before the next step is undertaken. In the experience of opening a recycling company, pure research was applied. Applying pure research assisted in making a decision about the following: pricing equipment used for the business, where to locate recyclables,...
Words: 327 - Pages: 2
