Why must business managers understand the importance of business research and how it is used in thei

In a world where business units are becoming more self sufficient and knowledgeable about managing their overall processes through the use of technology, it becomes more important to identify the value of data and its interaction. The ability to break down concepts and understand how things work enables business units to build and manage applications on their own. Alternatively, this knowledge allows executives to understand how disparate business units function and what IT needs in order to do their jobs and develop effective end user applications.

Why must business managers understand the importance of business research and how it is used in thei

Enter your email to reset your password Or sign up using: Sign in if you're already registered. Staff Good staff communication is essential to business success. At the most basic level, employees who don't know what's expected of them seldom perform to their potential.

According to a study by the consultants Watson Wyatt now Towers Watsoncompanies that communicate effectively are far more likely than companies that don't to report high levels of "employee engagement" and lower levels of turnover.

The bottom line for these effective communicators, according to the study: And yet, human nature being what it is, workplace communication is rarely adequate -- and could almost always be better.

Communicating Better

The good news is that you don't have to be an extrovert, or even particularly nurturing, to foster healthy communication at your company.

You simply need the will to improve it. Mostly, you need to be honest, show respect to employees, and work on building trust, without which employees tend to put up a filter and what you say doesn't matter. The guide that follows introduces habits and practices that engender good comunication, and offers tips on conveying your message effectively.

Create the Culture Above all else, to the extent possible, strive to be transparent and straightforward about the challenges of your business and even about your company's financials.

Such candor fosters trust and understanding. They won't be able to understand the risk until they understand the business.

The simplest way to put yourself and your managers in the mindset to communicate, says Galbreath, is to put it on your calendar. In addition to the scheduled activities below, he recommends spending 15 minutes each day, more if you can spare it, on "nontransactional conversation" with underlings.

By nontransactional, Galbreath means exchanges that don't have a specific purpose, like a request to do something. Meet one on one. Informal confabs with the people who report to you, held at least biweekly, serve as excellent occasions to check on their progress as well as identify problems before they blister, and so can be a powerful motivational tool.

Galbreath also recommends occasional once or twice a year skip-level meetings with individual employees two or more levels down. Besides making sure the boss is not isolated at the top, skip-level meetings are a morale booster. A brief team huddle at the start of the day or the shift is a good way to discuss the goals, challenges, or operating plan for the day.

A huddle should be just that, conducted standing in an open space; it should not last more than 10 or 15 minutes.

Why must business managers understand the importance of business research and how it is used in thei

Pass-down memos, stored in a network folder, can be used to report the events of one shift to the next. Then, every quarter, a large-group or companywide meeting can serve as a sort of state-of-the-business update, says Galbreath.

The meeting should last about an hour and include a question-and-answer session. If the company culture discourages searching questions, they can be submitted anonymously in advance, says Galbreath. Finally, occasional "lunch and learn" gatherings are good for a less formal discussion of the company, for introducing new products and strategies, or for most any other ancillary subject you want to broach.

They are not places to discuss essential topics or conduct core training.Jun 26,  · Business research can help you determine what potential customers want, which can guide you toward development of better products and services.

It can keep you abreast of what your competition is doing and help you spot marketplace and industry trends. Business research is synonymous with market research, but companies typically use every type of market research available to fully analyze their business situation: industry analysis, product research, and even identifying key customer groups.

The business research process is necessary to assist managers in making major business decisions. Scientific method is important in business research because it is structured, it show why certain tasks should be done, and why it would be beneficial to conduct the method.

If you have efficient ways of sharing knowledge across the business, it will be more widely used and its value and effectiveness are likely to be maximised. Knowledge sharing Consider the best ways of sharing new ideas and information with your staff.

I have tried to list some points regarding the importance of research in business management. Thus we can say that research is an important element in business management.

Thus we can say that research is an important element in business management. Feb 21,  · It is a shift from worrying about the next fiscal quarter’s financial results to the impact business decisions today have on financial (and social) results ten years from now.

How to Communicate with Employees | leslutinsduphoenix.com