Compare and Contrast Various Research Concepts Paper

Compare and Contrast Various Concepts - Research Paper Example Research is thus vital to an organization to get access in to right information, on right time and about right events in right ways. Most business organizations spend relatively a good amount of its earnings on research, mostly through the ‘Research and Development’ departments. Knowing deeply about the world around the business, especially regarding competitors, customers, other relevant stakeholders, technology, economic and political environments etc, helps a business plan strategically and effectively to serve its people better. This piece of research paper explains various research concepts, based on reviewing the literatures and compares and contrasts these different concepts. This paper addresses basic concepts of business research, applied and basic research, manager and the consultant researcher, hallmarks of scientific research etc. Business Research Research is a process of seeking information to find solution to a problem after thoroughly studying and analyzi ng situational factors (Sekaran, 2003, p. 42). Managers or specialized team assigned by the managers in most organizations engage in studying and analyzing organizational issues in order to find better solutions to it and help the organization run smoothly. A business organization cannot take decisions on important issues unless the manager or any other body assigned for it investigate the relevant information more deeply, mainly by collecting information on particular aspects that the business is interested on them. The information thus collected can be used to make judgment regarding right solution to the problem. Research normally includes a number of difficult processes such as situation analysis, data collection, hypothesis development, quantitative or qualitative analysis and presenting the findings etc. Concepts of Basic and Applied Research Though research is normally conducted for large numbers of different purposes, literatures identify two different purposes for research, namely basic research and applied research. Research may be conducted for different purposes like assessing business performance, measuring financial strength, finding financial viability, recognizing human capital productivity, assessing the effectiveness of specific organizational programs like training, development etc. These are quite different examples for some issues or problems that a firm generally requires to find solution to and bring them under control. All these different types of purposes fall in to one of basic or applied research. Basic and Applied research: Compared and Contrasted A manager or researcher may undertake the research to solve a current problem that he currently faces in his organization. the problem he or the firm faces requires a timely and more often an immediate solution. Applied research is thus one that attempts to find solution to a current problem faced by the organization (Sekaran, 2003, p. 7). Basic research focuses on generating a knowledge b ase that can be used to comprehend a problem likely to occur in the organization in future. The organization does not currently face a problem, but it is very likely that it would face issues like financial or managerial in its future and therefore it requires to create information that can be used to analyze and solve the problems. Thomas, Nelson and Silverman (2010) described that the concept of research can be viewed through two different extremes- basic research and