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Research & Evaluation

1) What value would business research be to a company just starting out in business? Please justify your answer.

2)What occurs when a company does not have the time to conduct the total research process on a problem before making a decision affecting the company? Please explain your answer clearly.

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1. Starting a business is loaded with challenges. There are many things to consider, legal, finance, market/service industry information. Research is a necessary component for success. Risks are part of any business, large or small. Research is needed to understand the attributes of the industry, to identify risks and to develop a business plan to launch the business. Research is needed to find how to develop a unique competitive advantage, develop a financial budget and how to market your products or services.
Research comes can be primary and secondary. Primary research is more costly, but it typically is the best type since it develops exactly the kind of ...

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