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A 5 page paper. In today's fiercely competitive environment, all businesses need to based their decision on research. To do otherwise is setting the company up for failure. This paper discusses research and why it is important. Some specific comments are made about the injection molding industry. Bibliography lists 5 sources.
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5 pages (~225 words per page)
File: ME12_PGrsbdj9.rtf
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Unformatted sample text from the term paper:
in process and for what purpose.] In todays fiercely competitive environment, all businesses need to based their decision on research. To do otherwise is setting the company up for
failure. Greenwald (2001), for instance, wrote that most organizations conduct research before they design their strategic plans. It takes longer to get the research but decisions will be more effective
and successful if companies take the time. Eltzer and colleagues (2006) wrote that the increasing competition makes it necessary for companies to engage "in research in concurrent engineering" (p. 169).
Vicki Clewis, vice president of research with Southern Research Group of Jackson, commented that research takes to guesswork out of decision making. When research is used, "Decisions are based
on solid findings allowing you to base decisions on what you know versus what you think" (Lofton, 2007). This is important in a market environment that keeps changing. Another marketing
expert, Kim Moss, who is executive vice president of media and research with GodwinGroup, said about the same thing (Lofton, 2007). Moss also pointed out that todays technology makes it
a lot easier today to obtain data (Lofton, 2007). Cox (n.d.) wrote that research is needed at every step in the decision-making process and that information needs to be accurate.
Managers can no longer depend on their feelings, which may have worked in the past when business was not quite as complex as it is today (Cox, n.d.). This author
rightfully points out that research can also help the company identify problems and/or opportunities they will need to act on (Cox, 2008). It should also be pointed out that accurate
and timely information is one part of the puzzle, the other part is the managers ability to act on that information (Cox, n.d.). No amount of information or data will
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