Business Research Essentials Course

Overview

Plan, conduct and evaluate basic research in the organisation. This competence will equip individuals with the competence to pose and answer questions in the workplace through a simple structured research process. It lays the foundation for research skills at higher levels, and contributes to the development of more reflective workers and workplaces.

Completing this course will help in:

Who is the course for?

Individuals in all field of business require the skills, values and knowledge imparted by this course. The course participants will be able to employ business research techniques during the course of their work from entry to middle levels within an organisation.

Training Outcomes

  • An own business is discussed in terms of its advantages and disadvantages for the owner, the labour market and the business sector.

  • Sources and methods of access to general and commercial business information are identified for the proposed business venture.

  • Reasons for selecting or rejecting a particular new business idea/opportunity are explained with examples.

  • Essential features of the new business are identified in terms of market share, sales volume, asset value, and extent of independence from outside control.

  • The aptitude, interests and values of the potential owner are screened for suitability to the new venture.

  • The market conditions are assessed to determine the viability of the new venture.

  • An assessment is made of the competition the new business is up against.

  • The access to relevant technology and other resources needed for the new business is analysed to aid a decision on the viability of the new venture.

  • A personal profile of an entrepreneur is matched to the type of work, product or service that has potential as a new business to ensure compatibility.

  • Training needs to ensure the success of the new business is identified for all persons involved in the venture.

  • Market research is conducted including analysis of demand for the product/service and competitor analysis.

  • The most suitable location of the new business is investigated to aid a decision on the location of the new venture.

  • Constraints on trade and applicable by-laws are investigated to ensure that there are no legal obstacles to the establishment of the new venture.

  • The concept of risk management is explained with examples.

  • The potential risks and factors that may threaten the new business are identified and analysed to eliminate and/or minimise them.

  • The risks associated with being an employer are explained.

  • The possible measures to reduce risk are explained with examples from a real or simulated new venture.

  • The insurance and security needs associated to risks in the new business are investigated.

  • Criteria are established for evaluating the success of a new opportunity. 

  • A preliminary evaluation of the proposed new business is produced in the form of a written report, using the identified criteria. 

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