Importance Of Motivation In Business Research

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Meaning and Overview Today’s economy is a fast paced one that is driven by sheer knowledge. Those who succeed depend on the power of knowledge rather than other methods to gain a competitive advantage. Be it knowledge of the customers, knowledge of markets or the know how to manufacture better products or provide services that are an answer to public need. With businesses fighting with each other to provide quicker and better services, this very knowledge is of help to all business houses to prepare for their next step and plan the future course of action.The aspect to be considered here is that each business needs to do this with the least cost, lowest manpower and the quickest time. The quest for knowledge is never ending and one can’t always…show more content…
Information from the market is always perishable, gets old and useless pretty quickly and must always be treated with urgency else, it only remains as a study with no utility. The business environment also changes rapidly and it is wise to keep track of those changes by means of a valid study. Answers to the same question asked a week ago and a week later may totally differ based on the prevalent conditions and therefore, each answer must be analysed keeping in mind the time frame and scenario of asking the questions. Motivation in Business Research What does it take to excel in business research? Is it a fire in the belly to achieve and proceed faster or a bad failure and those after-effects that frighten you? This is a very big question every business needs to answer in order to realize the importance and need for business research. Only when one understands the different motives, can that reason be channelized in order to gain momentum. Predominantly, each business house often points to one or more of these as its main motives to embark on research. 1) Desire to understand the Whys, Hows, Whens, Whats, Wheres and Whos of business. This for no reason prompts the business entity to take up research, with a big emphasis on garnering the best business and increasing the…show more content…
6) A deep routed desire to create something new. Once this motive is firmly planted, it become very easy to communicate to all the stakeholders the need for business research as well as provide a justification for the cost to be spent on the project. This list is only indicative and surely not exhaustive. There are many more factors that motivate business houses to indulge in research. These factors include governmental directives, employment market, social thinking, curiosity, financial need, etc. Some researchers even find it fun and rewarding to do something creative with data. In fact many business houses support researchers as their way of giving knowledge back to the society and for academia to learn and deduce. For a corporate entity, sponsoring research is also seen as a matter of prestige and that responsibility is taken very seriously. 1.1.2 Different Approaches to

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