Answered: 9- The main function of business…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

9- The main function of business research is to: a. Attempt to forecast the future behaviour of market only b. Provide the solution to a business problem. c. Identify organizational needs only d. Provide information to assist managers in making business decisions Clear my choice

Expert Solution

Step 1

Business research includes the activity of gathering business information and evaluating it for identifying business problems and solutions. Business research is conducted by following three major steps that are planning, execution, and report preparation.

This research could be done by undertaking various methods such as experiments, surveys, interviews, observations, and others. Thus, the final result could be derived in qualitative or quantitative terms based on the problem being analyzed by the organization.