Business Research Paper

328 Words2 Pages
Business Research The business research process can be defined as a systematic analysis that provides information to guide managerial decisions (Cooper & Schindler, 2011). In other words, it helps a company measure it’s strengths and weaknesses by processing, analyzing, and acquiring information to maximize its performance. The first step to business research is recognizing an issue. Understanding what that issue or dilemma is, and acting on it by developing a plan. For example, in my line of work I deal with multiple different investment accounts. Our firms mission is to do what we can to help our clients successful grow their assets by managing market volatility. Understanding our client’s goals and concerns is the first step to researching a development plan or strategy. It is very important to recognize our client’s objectives in order for us to successfully plan for their futures. In addition, companies seek for other opportunities that may exist in its industry or work force. Determining if there is a right fit for certain markets in order to receive a return on its investment. For example, once we develop a plan for our client, we then have to research the market to make sure that we are allocated properly in certain sectors. Some areas may contain too much risk for our clients needs while others may give us the opportunities for growth. Therefore, by taking calculated risks, we are able to determine the risk versus reward to helps us make an effective and efficient decision for a return on investment. All in all, the business research process is important when it comes to understanding the overview of the market or industry. In any type of field, business research is essential, especially when an issue exists. Thus, making decisions based on the most suitable and cost efficient way will help a company grow. References Cooper,

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