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Conduct Business Research

In: Business and Management

Submitted By yungbuck
Words 400
Pages 2
Introduction
At some point during any businesses lifetime there is a problem that has to be solved, or an opportunity that needs to be seized. In order to prosper you must be able to solve problems, seize opportunity, and adapt throughout adversity. Our company faced an opportunity/problem. The opportunity was to receive a renovation and upgrade, the problem was the business was 24 hours a day and seven days a week.
Research Questions
The research questions we developed were; How long will the total process take? Doing most of the work at night will be smartest? Doing work at what time could affect profit? We must know how long the entire process is going to take to determine what work needs to be done. Then we can begin to plan what jobs and when they will be done at night preferably, etc.

Hypothesis Some of the hypotheses were that Working at night will allow consumers to see new product in the morning and increase sale. If work is done during peak business hours it will cause us to lose consumers. Informing consumers about what is going on and what they can expect to see “new” will increase profit.

Variables and ethical decisions Perhaps the most important variable in any business is the consumer. We can plan for everything except the consumer’s reactions. Researching data that we have collected, anticipating trends, and knowing your consumer will still not afford you sufficient data to predict the consumer. But we try. The consumer is an independent variable, they are dependent on someone to get the service from but there are many other options so we do our best to know our most independent variable. Sales are a dependent variable. This variable is dependent on our ability to operate as close to 100% as possible. In this situation there were no ethical decisions to be made.

Conclusion In conclusion every business goes through tests, trial and...

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