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What is the importance of business research for business managers?

The importance of business research for business managers is that they can find out problems even it is big or small on daily basis. So, by solving these problems the managers can make a good and right decision for their organization. In business research is generally and basically used for to resolve problems issues in, or matched among the areas of accounting, finance, management, and marketing so, by keeping in view these areas the managers can make a good budget control system, practices and procedures which are frequently examined in accounting. Through a business research a business managers can know about the inventory cost methods, depreciation, time-series behavior of quarterly earnings, transfer pricing cash recovery rates, and taxation which is commonly used in finance department of the organization. Management research can provides the managers the study of employee attitudes such as job satisfaction, loyalty, and organization commitment and behaviors such as performance, absenteeism, and turnover, and human resources management; it also indicates the managers about the impact of changing demographics on management practices, production operations management, strategy formulation, and information systems. Marketing research can guides the managers issues related to product image, advertising, sales promotion, distribution, packaging, pricing, after-sales service, consumer preferences, new product development, etc. Business research also plays an importance role that it also enables business managers to apply techniques and procedure to illuminate the problem and contributes their greater understanding to generate solutions. Business research is the way in which managers draw on knowledge developed by other disciplines. Business research shows the managers a complete image of the company that on which situation the company is going on either it may be weak or strong so, the managers can take correct and better actions in time. Business research also gives the managers experiences about organizations works, such how to make effective decision, how to implement the goals and objectives, and how to communicates with their co-workers etc. so research is one the importance aspect for every originations though which a business managers can find the problems and they can solved them with a proper and accurate manner.

Subject class Submitted by


Ikramullah Enrolment: 01-120111-023

Submitted to

Sir H. MUSHTAQ AHMAD Date: 19/9/2012

References:
(1) Research Methods for Business: A Skill Building Approach (14th edition) Uma Sekaran John Wiley & Sons (Asia) (2) Research Methods for Business: (4th edition) By: Uma Sekaran