Week1 Idv Essay examples

Submitted By cryperez281
Words: 410
Pages: 2

Current Events in Business Research
Crystal Perez
RES/351
May 30, 2015
Albert Smothers

Current Events in Business Research

The business research process begins with collection of data and then processed into information that can be used to define more details on where, when, how, and what type of business is needed for that type of section. When deciding to start my own business with Scentsy I had to first collect data as to what the company was that I was getting into. Then I had to decide if I like the product that was being sold enough to sell it myself. The next variable would be whether or not people would buy it and if I would have continued product sales. The methods for this company sell best by word of mouth and my group parties.
The empirically testable hypotheses in this case are that other people are selling the product and are doing great at it. This company is growing at such a fast rate that the people that involve themselves into it will be guaranteed to make nice amounts of money from a great product and business plan. When competing with other type of businesses they have a unique product that will not burn skin, and they have a one of a kind product that no one else has.
Statistically the products are safer than party-light because there is no open flame Scentsy uses only a light bulb to heat and release the fragrance. It is proven that candles left unattended can cause a fire. While Scentsy only uses a light bulb this can be a drawl back for…