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According to Donald Cooper and Pamela Schindler (2011), “research is any organized inquiry carried out to provide information for solving problems” (Cooper & Schindler, 2011). Thus, many organizations and business professionals conduct research to understand their organizations strategic position. Without statistics, data, or evidence from business research, business professionals can make irrational and reactionary decisions. Understanding the position of a business requires multiple perspectives, such as studying the feasibility of taking a new approach for the whole organization. A study could also suggest how other organizations are poised to take over part of the organizations market advantage. Therefore, research is important in identifying opportunities and threats. Opportunities assist the organizations growth and prosperity objectives (Hsinchun, Chiang, & Storey, 2012); in worst case scenario, a threat can put an organization out of business. Businesses must also use research to investigate new products and services that can be offered to customers. A business research approach is important for connecting people from departments of the organization. For example, in the case of the president seeking a resolution for the struggling company that sells equipment and supplies to the dairy industry can connect engineers, project managers, financial and marketing professionals and executives. With this type of gathering the team may be able to identify a new product or systematic method that can make the company much more profitable.
Therefore it will be wise for the president to consider several different research analyses in this circumstance. One example of research would likely be studying the organizations inadequate processes or dysfunctional operating practices. In addition, the president should examine the position and outlook of changes in other dairy establishments. Nevertheless, business research can help the...