Business Research Skills Essay Sample
Business research plays a very vital role in the growth, efficiency, and development of the business. The research skills used in the business are considered important for gathering or collecting relevant data or information for analyzing the performance of the business in the future. It helps the business to reach its goal on time by gathering appropriate findings and information.
A researcher is to first establish the research questions related to business and then evaluate them on an empirical basis. Research topics are chosen from the wide range of business subjects that are part of business organizations. After choosing the research area the essential theories must be read along with addressing of issues.
Data is collected from the sources, analyzed, interpreted, and finally transformed into resourceful and useful information to be able to conduct research on the various issues. The business research activities are developed properly and implemented. Then there is an application of high qualitative and quantitative methodologies for the research which is conducted in the organization.
This essay sample shall primarily focus upon the skills required in business research elaborately.
Importance of Research Skills in Business
Research skills are considered very important for any profession, work, or field of study to lay down the foundation of any such research area or field. Business have own reasons for possessing valuable research skills and they are:-
Research on Competitors or Market
The researcher must be able to identify the biggest competitors in the market to improve its stand in business to increase the efficiency of the business by also lowering the business expenditures. A market survey and research helps in the smooth functioning of the business.
Improves the Customer and Business Relationship
An effective research skill helps in positively elevating the base of the customer in the organization of every industry. It aids the research on the needs of the customers, choices, preferences, and interests in the products and services, and market demand. On the basis of such business research, a particular customer group can be targeted to promote business growth.
Helps in Saving Money and Becoming Economical
Improved research in the business allows to keep a close track of the expenses and income and monitor the wasted resources which can increase the expenses of business as a result of this. A good set of research skills helps in making the informed choices and decisions which saves money and makes the business economical.
Promotion of an Innovation
A set of a good amount of research skills helps in the promotion of innovative ideas and encourages the independent thinking of the employees. They research and find solutions to it through many innovative ideas which increases the overall productivity of the employees.
It makes the handling of the new technology an easy process and helps in the development of new products and processes which makes every team member or employee valuable for business.
Important Business Research Skills
The experienced researchers who research very regularly know the set of a wide range of skills that are required to conduct research work in the business.
We shall discuss such research skills that are required for growth in the business and they are:-
Identifying the Topic or Area of Business Research and Goal-Setting Skills
The researcher must be capable to identify the particular research area of the business on which he needs to conduct his research. He must be able to know the goal and visualize the outcome of efforts made into the research work. It is called goal-setting skills which include the realistic vision, specificity, organization, accounting, time management, and addressing of any of the issues related to it.
Collection of Data and Ability to Research on Such Data Skills
The researcher must be able to search the important and relevant quantitative and qualitative data and be able to analyze such data. Such collection or gathering of the data methods can be flexible in nature and both the primary and secondary source of data collection information is used for the purpose of research.
Such data information is readily available on the internet these days. Such data collection includes the observation of data, interviewing, survey, preparing questionnaires, experimenting and analyzing of such information gathered from the different sources.
Analysis of data helps in checking the reliability and viability of such sources and research quality. Some of the reliable sources of information are databases, catalogs, encyclopedias, journals, etc.
Critical Thinking Abilities or Skills
Critical thinking skills are a must along with the data analysis skills which are used for making logical and informed decisions of the findings and analysis of results. It involves observation, analysis, assessing, problem-solving skills, creativity, and communication skill. Such skills help in designing the various stages of business research activities.
Business Report Writing Skills
The business researcher must be possessing the writing business report skills and other report writing skills. Such writing of the business report provides important information to the public which requires public speaking and communication skills.
The business report includes detailed information related to the business of the company and its performance that may include preparation of the report, proper format, summary, outline the report, proofreading and directness.
The Business Planning and Scheduling Skills
While planning a new business or new process a detailed outline map is to be created to produce the desired results. These planning and scheduling skills also help in time management and improving the efficiency of the employees.
This includes setting up a goal, identification of tasks, prioritizing the tasks, delegation of tasks if required, communication, clarity, and time management. Time management as a result reduces work stress, utilizes resources, sets realistic expectations, and helps in meeting project deadlines on time.
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The above-written essay sample is based on Business Research Skills used in the business of the different industries.
Start Your Own Business QQI Level 5, Business Studies QQI Level 6, Business Development QQI Level 6, Research and Study Skills QQI Level 5 and Business Management QQI Level 6 Irish students can read this above-written essay sample to gain a better understanding, awareness, and writing skills.
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