Strength and Weakness of the Three Types of Business Research

Question: Discuss About Strength And Weakness Of The Three Types Of Business Research? Answer: Introduction Most of the work of research can be divided into three kinds of categories which are descriptive, exploratory and casual. Each type of research serves a different motive and has a specific way of usage. In the online survey, mastery on every three can further adds proper and sounder insights in addition with great quality based data. The report will be taking a look into different forms of research method can be included in the overall strategies of the company for development and constant improvement as well as calculating the level of success in the company. The report will discuss in detail about the overview of three kind of business research with the help of academic journals. Literature scope and objectives There are number of reasons about why research is conducted in an organization. However, it is important to understand the motive of the research and why it generally bothers different kind of styles, tools, and measurements. The basic nature of the human being is to research or explore different fact about the world that exists in their surroundings. Human being wanted to learn everything about the earth and there is requirement to discuss and also be clear about the world even in small children (Cooper et al., 2003). The entire science and its development are based on understanding human being. Since a good human being simply cant explain the motive of human beings action and to discuss how and also why a human being must think, acts and feel accordingly. Exploratory The term exploratory research is a crucial part of kind of business strategy and the main aim is on the development and discovery of different kind of ideas and some information as opposed to collect some important and right data. Therefore, this explains the importance of exploratory research and why it is suited best right in the start of the research plan. It usually utilized for defining various issues of the company along with many potential areas for growth and development with an optional course of actions with giving priority to different areas that needs some kind of statistical research (Cooper et al., 2003). When it is about conducting the survey online, the most common instances of exploratory research is to talks about the form of many open ended queries. It is important to analyze different responses that can calculate in statistic manner but they will provide a wider and richer quality of data that can address many new kinds of initiatives or issues that become important to address (Cooper et al., 2003). Descriptive Descriptive research is a concept that takes up the large part of online survey and the research is more based on conclusion by basic nature because of its current quantitative nature. Despite exploratory research, this kind of research is planned in advance and this is why it is structured in way that designs or the data collected can be inferred in statistics form on the population (Collis and Hussey, 2013). The main concept is based on utilizing this specific type of research is to properly define and discuss the opinion, behavior or the basic attitude which is based on a group of people on the provided subject. It is crucial to base the research on routine question of multiple choices. There are some discussed in advance categories from where a respondent can choose easily from. It is than considered as a descriptive research. However, such questions will not be able to provide a distinct insight on the problems like in a way, exploratory research can (Low and MacMillan, 1988). Despite, grouping the feedback into pre-decided choices will give some statistics based inferable information. This further permits the organization to calculate the importance of the outcomes on the overall population on studying and at the same time it also changes the opinion of the respondents, attitude and behavior over a period of time (Collis and Hussey, 2013). Causal Casual research, like descriptive research is quantitative by nature and at the same time is also planned in advance and properly structured in design. For the same reason, it is also based on a more conclusive side of research (Collis and Hussey, 2013). The concept of causal research completely differs in its overall attempt to discuss and explain the main cause and its overall impact that exists between different variables. This is further opposed to the more observational kind of descriptive research, since the attempts is to properly decipher the relationship and decided whether it is causal in experimenting. Therefore, the concept of causal research has two set of goals which are to understand which element is the main cause and which variable can be treated as an impact (Baden-Fuller and Mangematin, 2013). Further it also decides the basic nature of the association that exists between different causal elements and the impact which can be predicted in future. For instance, an ow ner of a cereal brand many want to learn if he will be able to receive extra sales with the new box design. Despite conducting research which is descriptive by nature is based on asking people whether they would want to buy the cereal because of the new packaging and this way, they will set up an experiment in two different stores. One will help in selling the cereal in only the present and original box and the other will happen with the help of new box. It is very important to take a good care to avoid any external sources which is based on pure bias and they can then easily measure the basic difference that exists between sales which is based on the packing of the cereal (Baden-Fuller and Mangematin, 2013). Strengths Exploratory research The basic motive of this kind of research is to decide the basic nature of the issue. It is also further intended to evaluate the research based questions but the main intent is not to provide final solutions which are conclusive nature because of the present issues. Concept of exploratory research also provides researchers with a clear understanding of the issue; however the outcome of exploratory research can be typical by nature and not very useful for overall decision making (Hair, 2015). This kind of research can also provide some important insights into the present situation as the goal is based on gathering some preliminary data that will assist in defining the basic issues and also suggest the required hypotheses. The concept of exploratory research can be utilized in many ways of research methods which also includes many trial based studies along with interviews, case studies and other experiments (Baden-Fuller and Mangematin, 2013). The concept of exploratory research takes different form of open end queries and these queries is based on participants that can leave some concrete answers in the format of many open text based comments. These kinds of text comments may not be measurable statistically and unless it is properly coded however, it is important for it to get richer, based on quality data that can provide a lead that completely uncover the new kind of initiatives or problems that can be addressed on time (Zikmund et al., 2013). Descriptive research: The main aim of the descriptive research which is also called as statistical research is based on discussing the situation. For instance, to define things in a proper manner likes to discuss the market potential for the products or the basic demographics and the basic approach towards consumers who actually buy a specific product or service. An online survey is more descriptive by nature and many methods that manufacture the conclusive based data provided in quantitative capacity. This research is different by nature and planned in a more methodical manner as well as designed and formatted in similar manner to collect some important data (Hair, 2015). At the time of grouping these responses into some specific choices, it will help in providing statically data in a conclusive manner. This further permits to calculate the importance of the outcome on the whole population as well as also tracking these transformations of the opinions, behavior and attitude over a period of time. Casual research: This research is similar to descriptive research and also produces important quantitative data and is planned in a methodical manner, designed as well as formatted. It also provides statistical form of conclusive data. The main goal of the causal research is to evaluate different hypotheses based on cause and effect association (Hair, 2015). For example, the main goal of the research is to decide what elements can be a cause and is causing in a specific behavior, under such circumstances causal research is required. The concept of casual research can assist in understanding which elements can be the cause and which elements can be the effect and will also help in deciding the basic route of the association that exist between the elements and the impact to be forecasted. Weaknesses Exploratory research The major disadvantages of exploratory research are that it wont be able to properly replace any kind of conclusive as well as quantitative research. At the same time, organization constantly uses exploratory studies which are final as well as conclusive nature for number of research projects. This further may lead to many wrong bases of decisions and what is crucial is to keep in mind about this research methods is that it has certain restrictions or drawbacks. There are so many of supply qualitative data and the overall interpretation of all the finding is normally based on judgments (Bryman and Bell, 2015). For example, the outcome from projective kind of methods can sometimes be bizarre comes along with projective techniques along with in depth interviews that are normally utilized a while back by the professional specifically classified as motivational researchers. This results in some interesting but sometimes bizarre kind of hypotheses about the opinion in buyers head. Other issues with this concept are based on the ability to predict from multiple results. There are majority of methods that utilize many modest kinds of samples and that might be in representative form because they have not selected on probability basis. There are number of case studies for example, can be selected since it is represented as very good or very bad instances of case as opposed to any normal situation (Bryman and Bell, 2015). Descriptive research Following are disadvantages: - Confidentiality: the main disadvantage of the research is the issue of confidentiality. There are many cases which are not very truthful by nature and there is also a need to tell the researcher about what people think about the wants of researchers to understand. This can be very challenging during some important interviews. There are some participants that may also deny giving answers to different set of question as it can be too personal for them (Bryman and Bell, 2015). Error and objectivity: this research method also shows the overall possibility for different subjectivity as well as errors. For instance, when any researcher especially designs a questionnaire, many questions are predetermined and also very prescriptive by nature. In addition, the overall study may also consist of many errors as the researcher may be able to record what one may want to hear and also avoid data does not completely conform to hypothesis. In order to overcome a bias on research is a difficult process for descriptive research methods. People who choose to use this method should be aware of the impacts on the result of the research. Causal research Following are disadvantages of causal research: - The process of causal research is very expensive by nature since it set up in the test market and needs some important base for commitment for time and money. Evaluating the options in advertising campaign in the actual market can easily increase the stake. The research takes a lot of time to finish. This is specifically true when the researchers hope to calculate the long term impact on various marketing programs (Eriksson and Kovalainen, 2015). The concept of causal research is able to tip off the competition in the overall plan of marketers. When a company is established, a real kind of market tests so that competitors can read the outcomes. Competitors can also evaluate the outcomes to such tests. In specific case, competitors are able to make a copy of the company that conducts the tests and also get to the market. The concept of casual research is also very challenging to administer and it is sometime very difficult to control the effect of external elements (Eriksson and Kovalainen, 2015). There is also an issue of contamination where it is based on people from outside who are able to evaluate the market shopping within specific clean market which can also distort the results of the tests. The concept of clean market is very hard to understand or find. Gap identified Debate and analyze the findings presented in that article. The overall motives of the marketing research in an organization is find some important answers to many questions associated with different market dynamics, business surroundings and behavior of the consumers. For conducting the formal research it is important to design plan which is specifically created by the marketing manager. At the same time the marketing manager is also able to conduct specific kind of research with or without any specific plan. For instance, a owner of organization say hotel who usually query to repeat customer about their overall experience during their stay is actually conducting a type of research without any formal design of research (Zott et al., 2011). The important elements of research design are based on deciding what kind of marketing research is best for the main objectives. The concept of marketing research can further be classified into three important categories which mainly depend on the overall goal of the research. Conclusion The report has discussed in detail about three important and most relevant types of research in todays time. The future of any organization depends highly on surveys and research since it will help in understanding the viewpoint of the consumers which further will help in taking important decisions. This is why, it become crucial to discuss in depth about each type of research in order to make them work for the company. It doesnt matter, whether it is an internal or external research or it is based on end goals of the project to improve the overall image of the business. It also gives rise to sales of product and this is why kick start any kind of initiative at the right time. While finding the right kind of balance between the three types of research is any important factor for succeeding in long run (Saunders, 2011). References Cooper, D.R., Schindler, P.S. and Sun, J., 2003. Business research methods. https://sutlib2.sut.ac.th/sut_contents/H139963.pdf Collis, J. and Hussey, R., 2013.Business research: A practical guide for undergraduate and postgraduate students. Palgrave macmillan. https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.368.5563rep=rep1type=pdf . Low, M.B. and MacMillan, I.C., 1988. Entrepreneurship: Past research and future challenges.Journal of management,14(2), pp.139-161. https://s3.amazonaws.com/academia.edu.documents/26382980/low_macmillan_1988.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A Expires=1493893906Signature=hU8mlfEWcfU1ZF8WKF5IScg6NRM%3Dresponse-content-disposition=inline%3B%20filename%3DEntrepreneurship_Past_research_and_futur.pdf Baden-Fuller, C. and Mangematin, V., 2013. Business models: A challenging agenda.Strategic Organization,11(4), pp.418-427. https://journals.sagepub.com/doi/pdf/10.1177/1476127013510112 Hair, J.F., 2015.Essentials of business research methods. ME Sharpe. Zikmund, W.G., Babin, B.J., Carr, J.C. and Griffin, M., 2013.Business research methods. Cengage Learning. Bryman, A. and Bell, E., 2015.Business research methods. Oxford University Press, USA. Eriksson, P. and Kovalainen, A., 2015.Qualitative Methods in Business Research: A Practical Guide to Social Research. Sage. Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future research.Journal of management,37(4), pp.1019-1042. Saunders, M.N., 2011.Research methods for business students, 5/e. Pearson Education India.