Research, according to (Martens, 2015) is a process of systematic inquiry that is designed to collect, analyze, interpret and use data.  However, there is no universal definition.  Although there is no set definition, it is generally agreed upon that there is a process of enquiry and investigation, it is systematic and methodical and it is used to increase knowledge. (MGMT 2063 Unit 1 Introduction to Research (n.d)

It is of extreme importance that every business conduct research continually.  Failure to base decisions on research may result in poor decision-making, which could eventually lead to loss of customers, loss of money and eventually failure of the business.  (MGMT 2063 Unit 1 Importance of Business Research)

Additionally, there are 3 philosophies of research, however, one is not better than the other as each philosophy serves its purpose and can be more useful than another depending on the research question(s).  (MGMT 2063 Unit 1 Types of Business Research)

Reference:

MGMT 2063 Research Methods for Business: Introduction to Qualitative & Quantitative Methods – Unit 1

I have learnt that the research process may take the form of a six stage process (Frankfort-Nachmias and Nachmias, 2008; Zikmund, Babin, Carr, & Griffin, 2009), which are as follows:  Problem defining, Research design, Meaurement, Data collection, Data analysis and results and findings.  However, not every research project follows the same sequence of steps.  It is also noted in Unit 2 that defining the problem does not mean that there is a problem, but it may also speak to an opportunity for the business.

Session 2.3 highlighted ‘The Literature Review’.  This is a review of the literature of research conducted by other researches which would allow the researcher to examine the body of knowledge so that the topic can be put into context. (Unit 2, Research Methods for Business: The Literature Review)

Reference
Research Methods for Business: Introduction to Qualitative & Quantitative Methods. Unit 2