TITLE:
Uses of the Outcomes of Research in Business Management and Profitability
AUTHORS:
Muyumbwa Kamenda, Abubaker Qutieshat
KEYWORDS:
Business Management, Brief Literature Review, New Product Development (NPD), Research and Research Publications
JOURNAL NAME:
Open Journal of Business and Management,
Vol.9 No.6,
November
23,
2021
ABSTRACT: This study has focused on conducting a brief literature review analyzing
the impact of research outcomes on Business Management and Profitability in
Organizations, focusing on how organizations have used research outcomes in Decision Making, Planning, Resource Allocation,
Marketing and New Products Development (NPD). The study has articulated
what different scholars have argued on how outcomes of the research have
contributed to the management of organizations and thus remaining profitable.
The methodology and approach of the study have been through the analysis of
published literature, both empirical and theoretical literature of scholarly
published journals, articles, and books, and how they have impacted business
and management activities in organizations. Furthermore, the study has outlined
the social and practical implications of why organizations need to use research
outcomes, especially in changing business climates, in addressing and
mitigating threats and aiding new product development that meets the current
market trends. In addition, the study has brought out the impact of the
outcomes of research in influencing policy directives that are anchored on
empirical and theoretical literature in mitigating risks and avoiding
organizations going out of business due to poor decision making. Finally, the
study has highlighted the need for organizations to be well informed through
the outcomes of research on new products to bring on the market that would be
of taste to consumers and remain profitable.