sarahybanez
Sarah Ybanez
BUSINESS RESEARCH
Business research is undertaken to reduce uncertainties in the decision process, to expand or narrow the alternatives under consideration, and to assess the merits of existing programs.
Information is needed at all levels of control.
How much research?
Companies should compare the cost of information with its value.
Problems with the Data
The lack, obsolescence, and inaccuracy of data on many countries make much research difficult and expensive to undertake. Moreover, data discrepancies sometimes create uncertainties about situations.
Reasons for Inaccuracies
Inability to collect data
Purposeful misleading
Poor countries may have such limited resources that other projects necessarily receive priority in the national budget.
Mistrust of how the data will be used may lead respondents to answer incorrectly, particularly if questions probe financial details.
Many may be so selective in the data they include that false impressions are created.
Business research is undertaken to reduce uncertainties in the decision process, to expand or narrow the alternatives under consideration, and to assess the merits of existing programs.
Information is needed at all levels of control.
How much research?
Companies should compare the cost of information with its value.
Problems with the Data
The lack, obsolescence, and inaccuracy of data on many countries make much research difficult and expensive to undertake. Moreover, data discrepancies sometimes create uncertainties about situations.
Reasons for Inaccuracies
Inability to collect data
Purposeful misleading
Poor countries may have such limited resources that other projects necessarily receive priority in the national budget.
Mistrust of how the data will be used may lead respondents to answer incorrectly, particularly if questions probe financial details.
Many may be so selective in the data they include that false impressions are created.