Business Research : Business And Management Research

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Business Research Assignment 1

‘Business and management research is a systematic inquiry that helps to solve business problems and contributes to management knowledge. It is an applied research.’ (Wiki)
According to Easterby-Smith (2008), business and management research focuses on four factors:
- Information access is very important for managers. It makes competitive advantage for them, especially in the era of information technology.
- Managers need information produced by the classical research method.
- Business and management research is an applied research. Therefore, research findings have to help them to resolve practical management problems. There’re 3 main paradigms in business research. They are:
1. Exploratory research
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This is an important step, because it will help the researchers to focus on the main content, skip to the content or factors affecting little research problems, from which researchers can save the costs as well as determine a reasonable time to conduct the study.
- The last steps is integrated to determine the exact problem to study.
Exploratory research helps the company to interact with their customers and know how to serve them better.
2. Descriptive research
Once having determined the correct research problems, we need to describe the characteristic and nature-related issues. Descriptive research focuses on describing the characteristics of the problem without seeking to specify the relationships within the research problem. For example, describe the size and potential of the market, the factors affecting the growth or stagnation of the market…
Descriptive research helps researchers to determine the size of the study need to be conducted, imagine comprehensive “environment” of the problem, and thus in some cases, the researchers are able to estimate trends and development dimension of the problem.
For descriptive research, in addition to secondary data sources, researchers need to collect primary data, the use of test or establish the simulation model to analyze.
Descriptive research often helps describe market segments. For example, describe the characteristics and consumption habits of customers, the market share and rivals or
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