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Explain importance of Research in business decision making?
Ans:
Significance of Research in Business Decision Making
The role of research has significantly increased in the field of economy and business as a whole. In modern of development 3 factors increase the interest in a research to business decision making.
1. Manager's increased need for better and more information.
2. Availability of improved tools and techniques to meet this need.
3. Resulting information overload.
Role of research in vital areas of business through research, an executive can quickly get an information of current scenario
Surrogate Information Errors: this type of error occurs when the information sought by the researcher is different from the information needed to solve the problem. For example whe
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Quite frequently marketing studies are based on sample of people or products or stores. The results emerging from such studies are then generalized that is applied to the entire po
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NATURE OF CARGO INSURANCE POLICY A marine or cargo insurance policy has an international character and, therefore, a policy taken in one country is acceptable in other coun
PROCESS MARKETING INFORMATION SYSTEM.
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