Definition of Research

We  can  now   define   business  research  as  an  organized, systematic,  data-based, critical,   objective,  scientific  inquiry   or  investigation  into   a  specific problem, undertaken  with   the  purpose  of  finding   answers  or  solutions  to it. In essence, research   provides the needed information  that   guides   managers   to   make informed  decisions  to  successfully  deal with problems.  The   information provided   could   be  the  result   of  a  careful   analysis  of  data gathered  firsthand   or  of data   that  are   already  available  (in   the  company,  industry,  archives,  etc.). Data can  be  quantitative  (as  generally  gathered  through    structured  questions)  or qualitative (as generated  from  the  broad   answers  to  specific   questions  in  interviews, or from responses to open-ended   questions   in   a  questionnaire, or through   observation,  or  from  already  available  information  gathered  from  various   sources).

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