In any organization, managers at all levels need accurate and timely information for managerial decision making. Whether the decisions made are at technical, tactical, or strategic levels, good, accurate, and timely information always leads to a better decision. Gathering of information is done through a sound and scientific research process. Each year organizations spend enormous amounts of money for research and development in order to maintain their competitive edge. Accurate information obtained through research leads to enormous benefits.

Applied Versus Pure Research

Research can be defined as scientifically and methodically delving into the unknown in order to provide information for solving problems. The heart of this definition is the concept of problem solving. Both applied and pure (also known as basic) research attempt to solve problems. In applied research, the researcher attempts to solve a known problem and find answers to specific...