Business Research Essay

Submitted By bemyhelper09
Words: 317
Pages: 2

The Business Research Process In the course of ones professional career it is almost certain that at some point business research will need to be conducted. In my own experience this has only happened once, but it showed me that to adequately conduct business research it is important to know the steps involved in this scientific process. Business research begins when “…a management dilemma triggers the need for a decision” (Cooper and Schindler, 2011, p. 81 para. 2). In my case I was working for a hotel and management wanted to stay competitive and boost sales by finding out what rates and amenities were being offered by competitors in the same geographical area.
The first step in the research process is clarification of the question or problem. Next the budget had to be considered. The hotel had no budget beyond the normal hourly wage I was being paid and the research was valuable to the organization so it was decided I would conduct the research during the course of my normal day shift. The next step was deciding a research and sampling design. The target population was the competing hotels located on the same street. I was to collect data by calling and asking questions or by visiting the property. Secondary data could also be collected using any advertisements in the local paper. The next step in the research process involved analyzing and interpreting the data. All of the data I collected was compiled into a chart showing the different rates and amenities…