In: Operations Management
Comment on the following remark by a business consultant: “Qualitative exploration is a tool of research and a stimulant to thinking. In and of itself, however, it does not constitute business research.” Maximum 400 words
Business research is a method of collection and procedural analysis of business information to improve the sales of products and services. Business research collects a lot of market information, competition information, and has many quantitative components of analysis.
Qualitative research is used to know the attitude, perception, and thinking of the business stakeholders but this can not act as a foundation to start any business or make any decision that might affect the business operation. In order to start a business or take the decision, data is a must, and data can be obtained through the quantitative method.
Therefore, the consultant who had said that qualitative research does not constitute the business research itself was referring to the lack of data in the qualitative approach of research. The qualitative and quantitative research both have their own pros and cons but in order to make a meaningful business decision, the combination of qualitative and quanitiative inputs is the best. Business research is a complex but a systematic approach to finding the solution for the buienss problems and therefore it is more often linked with the using the data to solve the business problems.