Nature and Purpose of Market Information Systems

May 28, 2007 0 comments

"Time spent on reconnaissance is seldom wasted"

Field Marshal Montgomery

"Know your enemy, know yourself and you can fight a hundred battles without disaster"

Sun Tzu

Developing an approach to research for a new business:

1. What information will help make decision-making?
2. What are we going to do with this information?
3. How should we collect this information?
4. What are we going to measure?
5. How should we analyse the results?
6. How much time should we spend on collecting the information?
7. What decisions are we faced with?
8. What is the potential cost of taking the wrong decision?
9. What level of accuracy is required?
10. How can we reduce risks during start-up?

Posted by Lisa
Categories: Business Entrepreneurship