Research Methods for Business Assignment Example | Topics and Well Written Essays - 2000 words

Research Methods for Business - Assignment Example The first and the foremost dilemma of the research process is that it is very expensive. It takes a lot of effort to collect the views of the targets and hence consumes a lot of money as well. When it comes to a sample, if selected carefully, it is to a very large extent a true representation of the population. And since the sample size is smaller than the size of the population, it costs much less to gather data from the sample. Thus, sampling is very cost-efficient as compared to the entire population. Labor is another factor that leads to the use of sampling procedures. A large amount of labor needs to be engaged while conducting a research. This labor force is very expensive to employ and it takes a lot of time as well in order to select the best people to perform the task. Thus, the larger the sample size, the more the labor needed and the more would be the time and finances consumed. Therefore, it is better to use a sample instead of the entire population in order to minimize the cost and effort. Time is one of the most important factors when making any decision regarding the research methods and processes. Although there are many reasons for the time to be a crucial factor, however, the most important reason is that he researches are mostly very time sensitive, i.e. they tend to expire with time or so to say, the findings of the research tend to quickly become obsolete as the time passes and the preferences of the respondents change with changes in the society and the economy. Therefore, the research might not remain valid by the time it is finished.