Current Events in Business ResearchCharnae EvansErick AhrensRES/35102/04/2013 The business research process starts with the collection of data and then is later progressed into information that is used to help describe details, such as, who, what, when, where, why and how.
It also determines that the type of business that is going to be needed. When someone decides to start their very own business, they would first have to collect the data that is necessary to help better describe what the company needs. Then they will later have to decide if the product is the product good enough to be sold. The next step would be if there were going to be people who are going to be as interested in the product as you are. It would be good to know if the product will continue to have sales. One of the best methods for a company is advertising through social media sites and by word to mouth.
The empirically testable hypotheses would be seeing other establishments selling the sale product and doing quite well at it. The company would start to grow and maybe at a decent pace, then eventually people would want to start to involve their selves a little more. People would want to invest in the product and then later begin a business plan for his or her self. When it comes to competing against other company, they will find some sort of flaws in their idea, so the next person can sell it and earn more because of the upgrade. It is also important to have a product that no one else has. The product will have to be more creative so that it can stand out for other products. For example, my fiance and I are trying to start a clothing business and we know that we have to create something that have not yet hit the scene. We were thinking something more on the line of stitching images onto a t-shirt, as well as, creating a unique symbol for the clothing line.