Importance of Business Research Problems for Organizational Growth Assignment Sample

Learn about the objectives, literature review, analysis, findings, and conclusions related to tackling business research problems through this comprehensive overview.

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Introduction Of The Business Research Problem Analysis Assignment

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A “business research problem” is a very essential part of the business research, without clear comprehension of the problem no one cannot move further to work in that area. If an individual does not have a clear understanding of the business problem then they cannot look at the proper resultant values and no one will get proper information for the research. In other research only business research that identifies the main issues is frequently the 1st step without problem, there will not be any need for research. An individual has to analyze the business sales problems through using knowledge on the “demand supply”, deriving simple key performance indicators such as sales and production, explaining them to make insight into what should be planned for manufacture more and how markets are performing well. The main motive is to improve the organization's services and products or the business. Many organizations use this research to improve their competitors' perspective, needs of customers and recent market trends. They could be used for their communication for new products, to increase insight about clients and customers' demand. An important research may help the business owners to understand the various consumer groups to develop a marketing mix that may attract advanced clients as well as to maintain a ruthless edge.

Aim and Objectives

Aim of the research

The “business research problem” is very difficult to find in knowledge or aimed at finding a solution. This can be either a practical or theoretical problem that aims at expanding knowledge. This research problem limited research topics with an aim of addressing business related problems or issues. An individual has addressed the business research problem for the company’s investment.

Research Objectives

  • To identify the business’s needs and aspects correct information sourced from right methods.
  • To set up for all the marketing and playing about other competitors.
  • To increase the profits and revenue in an organization through business and compiling all data or such information from these facts of the business.
  • To stay updated with the financial market and that's trends, new innovation could be made to stay forwards in the business.
  • To enter into a unique business research is must and no one cannot take any chance or invest money without knowing the financial markets situation and important competitors currently in the market.

Literature Review

According to Pereira et al. 2021, problem solving skills are very essential to tackle the critical problems to encounter in the business and recently it is growing to achieve such development, focusing on the economic profits but also generating the social value also. This “business research problem” technique is a very crucial tool and it is described as an isolated estimate. This has some essential justification like understanding the consumers human psychology and their decision making process and their world also. The businesses utilize research problems to differentiate from the players in a different way. This could provide such information on the customer buying habits like a statics to the brands and the products. This is important for the public who want to create a business since that controls whether the concept will support unique suggestions. In the process of Research, everyone will analyze and improve knowledge and skills through experiments or observations (Pereiraet al. 2021). It is good to do research not only in business but also in everything in everyone’s life such as, which branch an individual has to choose, how to respond to tough situations in life and many more. But the business research always takes time based on the market's performance. In business research, everyone will understand patterns, strategies and fault findings. Research should be an essential part of all the business and conducting a research on the organizations competition will help the seller stay ahead of them, and can make it easier to tell if there's anything wrong with the product that may need to be fixed before releasing it. Investing in market research can help to figure out what type of people are going to want the product the most, which will give an individual insight into the right “pricing” and “marketing strategy”. This research is managed to collect the information about the consumers and market targets.

According to Bell et al. 2022, this research might be changed to grow the effectiveness and companies efficiency of the activities of customers are phenomenal, the business are not inconsistent. “Business research and market research” are quite similar to each other. “Business research” is analyzing what the business is doing in the market. It involves every person working in the business. It is basically conducted to manage the company which includes the financial investments, mapping customer’s journey, product development, and competitor’s analysis as well as the employer's analysis. This generates great insights to the business and on the huge marketplace. “Business research” could identify how clients and honest clients might view the business and identify gaps in the consumer's expectations. This is powerful information to have when completing the business strategy. Having good business intelligence helps to minimize risks when making key business decisions (Bell et al. 2022). The difference between “market research” and “business research” is much the same as that between “markets” and “business”, the latter is more general, and involves more circumstances than the former. The industry can better identify the segments and groups of people who share similar needs, wants and behaviors that it is able to service, and make good decisions about “product”, “price”, “promotion”, “distribution”, “processes”, “packaging” and many more. So that the segment it is targeting is most satisfied and becomes and stays honest with shareholders in the company just as happy they are able to receive fair and equitable reward. This is very essential, being able to conclude an action from data is a competitive advantage that improves the consumer base, improves staff productivity, and creates a better product. It is composed of functional areas, which supply the simple setting for the “business research”.

Discussion and Analysis

“Office of national statistics” is generally a government and the timeframes are different. The “ONS” figures are about two weeks out of date, which was a time when the yearly figures actually increased slightly. The “UK” government defines, raw data that has been submitted through official channels and is known to only show what is gathered officially and there are a lot of holes in the collection of this data.

Most of the small statistics business people fail to adapt too slowly or sometimes rapidly, changing trends until it’s too late as they have no solid statistics to back them up. Stats at the end of the day are just numbers, but that numbers enable decision makers to see a more accurate picture and devise a better plan.

“Foreign direct investment” could be in other debt forms which is not a capital, but in borrowing status for the companies and they will remain as debt in the books, to be paid back or converted into equity based on the arrangement.

Traditional nations have more capital. Hence, “FDI” will bring cash as well as technology with them. This will create an ecosystem in which desi people will be jealous of foreigners. It improves competition mostly in developed countries.

“FDI” plays an important role that growth in emerging markets has been due in huge part to incoming “foreign direct investment”. Other organizations investing foreign can realize higher growth rates and diversify their income, which generates such opportunities for the foreign investors.

The UK government acknowledged the problem unlike some others, made a plan, announced the plan, and followed the science. The UK following the investment is not even “science” as there will be investors who disagree.

A domestic industry that expands into the international market could realize a growth and more a particular country also improve the diversification. The international companies are controlling emerging financial market could be target for “foreign direct investments” themselves and generating opportunities for the stakeholders.

“FDI” has drawbacks and overall effectiveness in generating the growth or this may be a main problem for the UK country’s financial market and capital drain in the long term. Other countries with their sustainable and growing levels of “foreign direct investment” are preferable, while organizations investing abroad may often benefit from higher rates of growth.

Count of 2019

Column Labels

Row Labels

-11408

-482

718

1200

7556

8255

10949

15811

36089

47038

173231

184639

191952

(blank)

Grand Total

-18566

1

1

-14230

1

1

-10464

1

1

-8102

1

1

5515

1

1

9597

1

1

27109

1

1

33993

1

1

34119

1

1

39508

1

1

41339

1

1

48170

1

1

57768

1

1

(blank)

Grand Total

1

1

1

1

1

1

1

1

1

1

1

1

1

13

Large and medium scale companies and projects have another issue. They never got their project required sanctions due to lethargic government and also 19th century era anti-development, anti “UK” international laws.

Count of 2020

Column Labels

Row Labels

12389

18018

30407

46501

137264

183765

1490787

1640440

(blank)

Grand Total

4287

1

1

7555

1

1

11842

1

1

80494

1

1

142779

1

1

223273

1

1

1782097

1

1

1929163

1

1

(blank)

Grand Total

1

1

1

1

1

1

1

1

8

“Foreign direct investment” will protect a country from having such a better currency that they lose competitiveness and exports collapse, but high rates of interest will also decrease investment by foreign countries slowing GDP.

Count of Faroe Islands

Column Labels

Row Labels

North Macedonia

Turkey

(blank)

Grand Total

San Marino

1

1

Ukraine

1

1

(blank)

1

1

Grand Total

1

1

1

3

When “FDI” is made it will fuel the overall growth in industry which impacts the economy and “GDP” but as most of the country follows a mixed kind of economy, there is a limit of “FDI”. The customers in general already get the advantage through “FDI” in customer companies with the cheapest price and modern technology.

Count of 2020

Column Labels

Row Labels

3601

12182

15783

60953

117412

178364

892250

(blank)

Grand Total

4287

1

1

8508

1

1

15198

1

1

10426

1

1

7555

1

1

9763

1

1

11237

1

1

13897

1

1

11842

1

1

18271

1

1

26434

1

1

24323

1

1

80494

1

1

55300

1

1

65299

1

1

53922

1

1

142779

1

1

106506

1

1

118116

1

1

119150

1

1

223273

1

1

161806

1

1

183414

1

1

173072

1

1

1782097

1

1

917519

1

1

1439505

1

1

1262921

1

1

(blank)

(blank)

(blank)

(blank)

Grand Total

1

1

1

1

1

1

1

7

“FDI” is the foreign owned capitals and they generate employment, raise standard of living and add to the “GDP” of a country. “FDI” creates the infrastructure and the capital of the nation they are invested in (Bellet al.2022). “FDI” related investments are assumed to engage with existing competition and they can bring better “technology”, “processes”, “productivity” and “low capital” to bring value and better service at the existing prices.

Row Labels

Count of 2018

Count of 2013

322

1

1

3502

1

1

3817

1

1

4375

1

1

4697

1

1

7320

1

1

18650

1

1

53887

1

1

57711

1

1

72537

1

1

(blank)

Grand Total

10

10

The “government of the United Kingdom” has taken a notable step to save the important companies of their country. In this step, they bought shares of companies coming from outside which used to buy the shares of the company of “UK”. The situation for this has been made even more stringent, this will benefit if an organization which is not able to perform good in the last some months shares that industry.

Count of 2017

Column Labels

Row Labels

596

3524

3762

5153

5749

7286

23099

41229

45349

64328

(blank)

Grand Total

1663

1

1

3056

1

1

4161

1

1

4374

1

1

5824

1

1

7430

1

1

20507

1

1

70529

1

1

75248

1

1

91037

1

1

(blank)

Grand Total

1

1

1

1

1

1

1

1

1

1

10

United Kingdom’s businesses that make such investments in foreign companies are known as “multinational corporations”. “FDI” in created nations can mean the same but it can also mean they have a trade and a current account deficit which has to be plugged by selling off prime real estate and successful businesses to build up the intermission in finances and the country becoming more and more becoming foreign owned.

When “FDI” is putting money, financial market sentiment looks positive and when they withdraw it starts getting bad which is a rational effect. “FDI” flow into the “UK” by the international industry net inflows for a particular year show that the value of disinvestment through foreign investors was more than the value of capital newly invested in the reporting economy.

Finding and Conclusion

In conclusion, the financial result of this research usually promotes all the questions answered through the research problem. A business research problem is something that anyone trying to find a solution but this is very essential for another reason also, that frames a procedure an individual would follow in this research. This is always very crucial to obtain skills and knowledge over the exact topic and a particular business has such moving parts and mange for that. This helps to keep connected with the future customer on the cured level. This is required to hold the business position in the organization whether that be an exact “SWOT” analysis or basic research of the business. This is essential for many factors like business management, organization growth or producing new products and may change in the old products. The business research problem along with other financial market research is all about increasing the business capabilities and in the race. The business research could be described as a systematic and provided effort to inspect a new hassle encountered in the work setting, which needs a solution. This contains a collection of steps that are designed and carried out with the aim of discovering solutions to the problems that are of issue to the supervisor in the work environment.

References

Journals

  • Bell, E., Bryman, A. and Harley, B., 2022. Business research methods. Oxford university press.
  • Brautigam, D., Huang, Y. and Acker, K., 2020. Risky Business: New Data on Chinese Loans and Africa's Debt Problem (No. 03/2020). Briefing paper.
  • Doma?ska, A., 2018. Cooperation between knowledge-based institutions and business: empirical studies and network theories. In Forum Scientiae Oeconomia (Vol. 6, No. 2018) Issue No. 2: Economic Growth, Innovations and Lobbying, pp. 81-94). WydawnictwoNaukoweAkademii WSB.
  • Ferasso, M., Beliaeva, T., Kraus, S., Clauss, T. and Ribeiro?Soriano, D., 2020. Circular economy business models: The state of research and avenues ahead. Business Strategy and the Environment, 29(8), pp.3006-3024.
  • Frei, R., Jack, L. and Brown, S., 2020. Product returns: A growing problem for business, society and environment. International Journal of Operations & Production Management.
  • Gross, S., Mandelburger, M.M. and Mendling, J., 2019. Navigating through the maze of business process change methods. In Proceedings of the 52nd Hawaii International Conference on System Sciences (HICSS-52) (pp. 6270-6279). ScholarSpace University of Hawaii at Manoa.
  • Ideland, M., Jobér, A. and Axelsson, T., 2021. Problem solved! How eduprenuers enact a school crisis as business possibilities. European Educational Research Journal, 20(1), pp.83-101.
  • Kashirskaya, L.V., Sitnov, A.A., Davlatzoda, D.?. and Vorozheykina, T.M., 2020. Knowledge audit as a key tool for business research in the information society. Entrepreneurship and sustainability issues, 7(3), pp.2299-2319.
  • Kise?áková, D., Šofranková, B., Gombár, M., ?abinová, V. and Onuferová, E., 2019. Competitiveness and its impact on sustainability, business environment, and human development of EU (28) countries in terms of global multi-criteria indices. Sustainability, 11(12), p.3365.
  • Kühne, B. and Böhmann, T., 2019, June. Data-Driven Business Models-Building the Bridge between Data and Value. In ECIS.
  • Kumar, N., Mathiyazhagan, K. and Mathivathanan, D., 2020. Modelling the interrelationship between factors for adoption of sustainable lean manufacturing: a business case from the Indian automobile industry. International Journal of Sustainable Engineering, 13(2), pp.93-107.
  • Pereira, L., Santos, R., Sempiterno, M., Costa, R.L.D., Dias, Á. and António, N., 2021. Pereira Problem solving: Business research methodology to explore Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(1), p.84.
  • Pietrewicz, L., 2019. Technology, business models and competitive advantage in the age of Industry 4.0. ProblemyZarz?dzania, (2/2019 (82)), pp.32-52.
  • Pinkovetskaia, I.S., Berezina, N.V. and Sverdlikova, E.A., 2020. The main reasons for the exit of entrepreneurs from business. Amazonia Investiga, 9(26), pp.68-73.
  • Rashid, Y., Rashid, A., Warraich, M.A., Sabir, S.S. and Waseem, A., 2019. Case study method: A step-by-step guide for business researchers. International journal of qualitative methods, 18, p.1609406919862424.
  • Saxena, D., 2019. The search for mechanisms in business research: Reflections on retroductive analysis in a multilevel critical realist case study. Electronic Journal of Business Research Methods, 17(1), pp.pp17-27.
  • Zheng, S. and Deng, C., 2022. A Study of Blended Teaching Practice of Business Interpreting Based on Objective Problem Orientation. Journal of Language Teaching and Research, 13(5), pp.1038-1047.

 

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