Definition, Types And Objectives of Business Research

Definition of Business Research:Generally a conducted in the areas of business is called business research. The major areas for business research are general business, finance, accounting, marketing, management, organizational behavior, information system(IS) & corporate social responsibility(CSR) etc.

1  According to Zikmund W.G, " Business research is the application of scientific method in searching for the truth about business phenomena"
2. According to John W.Best (2002),. " Business research as "systematic & objective analysis of controlled observations that may use to the development of organisation, principles & possibility of ultimate control of event. "   

Types of Research:The basic types of research are as follows—
 i.    Descriptive Vs. Analytical
ii.    Applied Vs. Fundamental
iii.  Quantitative Vs. Qualitative
iv.   Conceptual  Vs. Empirical
v.    Some other type of Research       

Nature of Business Research:Business research helps decision makers to shift from intuitive Information gathering to systematic and objective investigation.
Research consists of:
(i).    Asking a question that nobody has asked before;
(ii).   Doing the pivotal work to find the answer;
(iii).  Communicating the knowledge with other.

Objective of Business Research:The main objectives  of research is to find out the truth which is hidden & which has not been discover.The specific objectives of research are given below—
i.     To discover new facts;
ii.    To verify and test important facts;
iii    To analyse an Event;
iv    To find solution to scientific & non– scientific problems;
v.    To get intellectual joy;
vi.   To solve specific business or social problem;
vii.  To built national and International knowledge about quality.

In fact,, the importance of research is paramount.