Business Research
March 1, 2012 | 
Author In general, business research refers to any type of researching done when starting or running any kind of business. For example, starting any type of business requires research into the target customer and the competition to create a business plan. Conducting business market research in existing businesses is helpful in keeping in touch with consumer demand. Small business research begins with researching an idea and a name and continues with research based on customer demand and other businesses offering similar products or services. All business research is done to learn information that could make the company more successful.
Business research methods vary depending on the size of the company and the type of information needed. For instance, customer research may involve finding out both a customer’s feelings about and experiences using a product or service. The methods used to gauge customer satisfaction may be questionnaires, interviews or seminars. Researching public data can provide businesses with statistics on financial and educational information in regards to customer demographics and product usage, such as the hours of television viewed per week by people in a certain geographic area. Business research used for advertising purposes is common because marketing dollars must be carefully spent to increase sales and brand recognition from ads.
Other than business market research and advertising research, researching is done to provide information for investors. Business people aren’t likely to invest in a company or organization without adequate research and statistics to show them that their investment is likely to pay off. Large or small business research can also help a company analyze its strengths and weaknesses by learning what customers are looking for in terms of products or services the business is offering. Then a company can use the business research information to adjust itself to better serve customers, gain over the competition and have a better chance of staying in business.
Most industries have trade journals that include research reports and statistics that relate to a certain type of business. International information is especially important to businesses that have ties with other countries and need to understand more about the cultures and demographics of other nations. For example, International Business Research is a publication of the Canadian Center of Science and Education and includes business essays and academic editorials from businesspeople from different parts of the world such as Australia, India and Malaysia.
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Business Ethics
While most people have taken the time to define their personal morals, the concept of business ethics has only recently begun to come Enron was at the center of a scandal involving its irregular accounting practices in 2001, it seemed like a high profile business executive was in the news almost every day being accused of greed, deceit, and corruption. In response to public outrage, the business community at large began to focus more on encouraging ethical behavior. Now, it is common for both large and small businesses to have a formalized listing of ethical guidelines for employees to follow.
Naturally, any successful corporation must remain focused on earning a profit. With no profit, the company loses value and the employees eventually lose their jobs. However, business ethics do not allow a company to do whatever is necessary to make money. Corporate social responsibility dictates that businesses must provide safe working conditions and use manufacturing practices that do not unnecessarily harm the environment. Business ethics also require that companies provide accurate financial data to stockholders and avoid advertising their products and services to consumers under false pretenses.
The study of business ethics is sometimes referred to as applied ethics because it attempts to translate utilitarianism, social contract theory, deontology, and other theoretical principles into acceptable rules for conduct in various real world situations. At the college level, many schools now have programs to encourage students to develop an awareness of business ethics. These classes typically use case studies as the basis for discussions on what constitutes ethical behavior. Lower level classes are sometimes required for an undergraduate business degree, while students working towards an MBA may be able to specialize in leadership and business ethics. While many people do feel classes discussing ethics are beneficial, others say it’s hard to predict how students will behave once they are out of school and into the working world.
To some extent, the government can regulate ethical behavior by passing laws that require businesses to take certain actions. In many ways, however, professional organizations may be the best equipped to impart a sense of business ethics onto a particular industry. Organizations such as the Public Relations Society of America, the National Independent Automobile Dealers Association, the Chartered Property Casualty Underwriters Society, and the National Association of Realtors have codes of ethical behavior that members are required to follow and provide regular training events that help encourage open discussions of business ethics.
Business Advisor
Business advisors have business experience that they can apply to solving problems, identifying potential areas of concern, and 
helping businesses expand and grow. When a company hires a business advisor, the consultant may spend some time reviewing records, visiting the premises, meeting with employees, and talking with the business owners about their goals and the history of the business. If there is a specific area of concern, the business advisor can focus on that.
These advisors provide people with information about legal matters, the best practices used in their industries, common trends and pitfalls, and other things. A business advisor can help people find out where and why a business is going wrong so they can turn it around, in addition to assisting people with the development of a new business or a new branch of an existing business. Referrals to organizations a business may find helpful along with professionals like accountants may also be offered.
Working with a business advisor can be highly beneficial for a business, large or small. Advisors have years of experience tempered by knowledge gained through working with numerous types of business. This can be applied to a variety of businesses and situations to help them succeed. The goal of working with a business advisor is to improve profits, whether it is by operating more efficiently, improving customer service, or expanding a customer base.
Some business advisors work as independent consultants. Others belong to group practices. It is possible to access business advice through community organizations and government agencies as well. People like new business owners, minority business owners, workers in key industries, and individuals opening up businesses in areas identified as being of special concern can often obtain free business assistance. Information about such assistance can be obtained through local government agencies.