Business research and consultancy Essay Example | Topics and Well Written Essays - 3000 words

Business research and consultancy - Essay Example The paper tells that research and consultancy are two different concepts, which have a number of variations between them. However, they have so much in common and this is quite essential towards each other. Consultants require knowing the findings of research prior to recommending any incentive technique in dealing with the practical problems of management. It is imperative for consultants to consider whether any researches had been conducted towards the utilization of such techniques in circumstances similar to the ones their clients are experiencing. Business research was in the past deemed a data collection service focusing on markets whereby clients requested particular data and the market researchers collected and provided to them. Where such data is now accessible by the various market competitors, business have continually been challenged to not only focus on marketing but also their competitors in order to diagnose the market’s current situation and the problems existi ng in a more detailed manners and identify their weaknesses and strengths. Market is highly dynamic and this requires businesses to constantly analyze the marketplace so as to plan and match their company strengths with the existing market opportunities and devise tactics and strategies to achieve their objectives. Market research also plays an important role in enabling businesses to continuously watch for threats to their plans achievement. Business research is also critical for monitoring progress of an organization’s strategy implementation... Market is highly dynamic and this requires businesses to constantly analyze the marketplace so as to plan and match their company strengths with the existing market opportunities and devise tactics and strategies to achieve their objectives. Market research also plays an important role in enabling businesses to continuously watch for threats to their plans achievement. Business research is also critical for monitoring progress of an organization’s strategy implementation (Kent 1993, p. 2). Marketing research and consultancy practice is concerned with collection, analysis, and interpretation of data on market, company, and its surrounding environment. Such information is relevant for problem diagnosis, business planning, and market strategies control. When firms and entrepreneurs face problems in their businesses related to issues like decline in sales, poor customer relationships and satisfaction, stiff competition or general decline in product demand, they approach business r esearch and consultancy firms for advisory. To identify and address the problems, relevant data is required to identify factors leading to the problems and clarify the decision required to be made. Some research may involve product testing and others may involve pricing research especially for new market entrants (Kent 1993, p. 4). This paper is a reflective report in which the writer desires to give a comprehensive experience of business research and consultancy. The research has used secondary type of research to explore the debt collection software solutions used by various debt collection companies such as Line Time, Win Collect, Proclaim Case Management, Crevice, Adtec, TDX Group, Actius, Capture, Silver Link, Latitude and Experian’s Tallyman. This is a reflection of the