Res 351 Wk 1

In: Business and Management

Submitted By r81d3r
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Business research is defined in the text (Cooper & Schindler, 2011) as an organized inquiry carried out to provide information for solving problems and guide managerial decisions. Cooper and Schindler (2011) states, “it is a process of planning, acquiring, analyzing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize performance.” In my experience, business research is vitally important in this day in age with advanced as our technology is. There are ways to get information or products faster, to track the process, and adapt “on the fly.” Working in the retail business, business research is vitally important to be competitive with other retailers as far as product assortment, accessibility, value, and price. Being a part of the JCPenney organization, there are two great examples of use of business research being used in the past two years. When Ron Johnson (formally APPLE Stores CEO) became the CEO of JCPenney in 2011, he wanted to turn the corporation’s financial struggles around by giving the company a new image. He cut out the “enney” in the name to make it simply JCP. Ron brought in new technology to enhance customer service in using Apple iPods as mobile registers. He brought in new designers and redesigned the stores to have boutique style shops. While these had a positive effect for the company, he ultimately sealed his own fate when he took sales and coupons away from the company. Most retailers offer these as promotions to drive customers in the store to make purchases. Ron wanted to provide a “Fair & Square” atmosphere to the customer. This meant with no sales, we would offer an everyday low price that the customer can come in and get at anytime during a given month. This being totally different than any other retailer has…...

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