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Business Research Case Study

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Added on  2021-06-17

Business Research Case Study

   Added on 2021-06-17

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Running head: CASE STUDY 1Case studyStudent’s NameInstitutional Affiliation
Business Research Case Study_1
Running head: CASE STUDY 2Business ResearchBusiness research is an important tool in identifying markets for a startup business andalso understanding your customers’ needs and competitor strategies. It is a systematic approachto inquire about challenges faced in a business or foreseen and coming up with ways to helpsolve these challenges. Leonard (no date) identifies that business research involves the practiceof a business in which managers acquire data, analyze it to better manage their business. Further,companies that use business research have a better understanding of their operations, their nichein the market and how to take advantage of other business opportunities. Business research has a number of advantages to the organization that practices it. Fulton(2017) asserts that a business research process identifies problems. It is a tool that anorganization uses to improve their financial outcomes. Market pricing, for instance, is one areaof a problem that can be overcome using business research, a business research may show thatbased on the market price and the costs of operations, profitability may not be achieved thus theneed to reassign resources to other more profitable areas. Market research also helps identifycustomer issues and complaints as a result of the quality of some business products. Businessresearch is also very important in determining the course the business takes as it helps identifythe best course of action when faced with multiple choices. Approaches to business researchGrounded TheoryGrounded theory refers to an inductive research method that allows one to come up witha theory which comprehensively offer an explanation about the concerns of the researchpopulation and how that concern can be addressed by the research process. Grounded theory can
Business Research Case Study_2

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