Importance of Decision Making

Business research has an inherent value to the extent that it helps management in making decisions. Interesting information about consumers, employees, or competitors might be pleasant to have, but its value is limited. If a study does not help management select more efficient, less risky, or more profitable alternatives than otherwise would be the case, its use should be questioned. The important point is; Applied research in a business environment finds its justification in the contribution it makes to the decision-maker’s task.