What is Research?
The task of research is to generate accurate information for use in decision making. As we saw above, the emphasis of research is on shifting decision makers from intuitive information gathering to systematic and objective investigation. Research is defined as the systematic and objective process of gathering, recording and analyzing data for aid in making decisions.
“A careful critical inquiry or examination in seeking facts or principles; diligent investigation in order to ascertain something”
“A critical and exhaustive investigation or experimentation having as its aim the revision of accepted conclusion in the light of newly discovered facts”
D. Slesinger and M. Stephenson,
[ The Eweyclopaedia of social science ]
“The manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verifying knowledge, whether that knowledge aids in the construction of theory or in the practice of an art”
“Research is the manner in which we attempt to solve problems in a systematic effort to push back the frontiers of human ignorance or to confirm the validity of the solutions to problems others have presumably resolved.
- Paul D. Leedy.
Why is Research Needed / Important / Necessary?
We have argued that research facilitates effective management. At many companies research drives every aspect of major decision making. For example, at ford motor company, research is to fundamental that management makes hardly any significant decision without the benefit of some kind of research.
The prime value of research is that it reduces uncertainty by providing information that improves the decision-making process. The decision-making process associated with the development and implementation of a strategy involves four interrelated stages:
1. Identifying problems or opportunities.
2. Diagnosing and assessing problems or opportunities.
3. Selecting and implementing a course of action.
4. Evaluating the course of action.