Business Research Essay

371 Words2 Pages
p. 22): What is business research? Business research is an important management activity that helps companies determine which products will be most profitable for companies to produce. More specifically, it is a process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize business performance. Several steps are necessary when conducting business research; each step must be thoroughly reviewed to ensure that the best decision is made for the company. The steps needed when conducting business research are product analysis, market analysis, financial analysis, competitor analysis, and growth analysis. 2 (p. 22): What is the difference between applied research and basic or pure research? Use a decision about how a salesperson is to be paid, by commission or salary, and describe the question that would guide applied research versus the question that would guide pure research. Applied research is conducted to reveal answers to specific questions or problems while pure research is directed toward solving perplexing problems of a theoretical nature that will not directly incur an action. Applied research approach: Questions would be based on total income brought in by sales personnel paid by commission vs. salaried. Pure research approach: Questions would be more general and would include questions directed to sales representatives. 5 (p. 22): A sales force manager needs to have information in order to decide whether to create a custom motivation program or purchase one offered by a consulting firm. What are the dilemmas the manager faces in selecting either of these alternatives? To choose either option, the sales manager must first determine the goals of the motivation program, in terms of desired attitudes and

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