The process of research can be conducted by using basic or applied research methods. Both have distinguished characteristics and are used in different situations. Basic research is a form of research that is conducted out of a person’s inquisitiveness or interest about a particular phenomenon, and the intention is to increase a person’s knowledge about a particular subject.
The findings of basic research are not instantly utilized; rather it acts as a foundation for applied research. The company General Electronics conducts basic research in order to find ways to utilize electrical energy economically. This study increases the knowledge of how electrical energy can be used resourcefully and forms the basis for the creation of new products. Similarly, university professors do research on subjects like an increase in labor turnover out of their interest in the subject, and the concluded theories may be used by organizations when it faces such a problem.
Applied research aims to find a solution to a current problem which a business is facing. It is designed to solve practical problems of business and is not conducted to satisfy a person’s inquisitiveness or interest. For instance, a non-trading organization, in order to raise awareness about a particular disease, develops plans to effectively spread awareness.
This is an example of applied research. Similarly, managers of firms conduct applied research when the firm faces high absenteeism of employees in order to reason out and solve the problem instantly.