Compare and contrast basic and applied business research Dis

Compare and contrast basic and applied business research. Discuss an example of each.

Solution

APPLIED RESEARCH BASIC RESEARCH Definition: It is another type of research that is used to answer a specific question. Definition:In this type of research the initiation started by curiosity and also self desire to expand our knowledge Necessity is the initial investment to start this kind of process Curiosity is the basic investment to start the process It is specifically applicable for present and particular problems only It may help present problem or even to guide in future It becomes particular solution to a problem It can become a solution for more number of problems, but not intensile applicable Ex. Invention of a medicine for a particular disease Ex. Provides a pavement to new trend