2. Topic: Enhancing Business
Performance through
research

3. Business
Research
Business research is a systematic and
organized effort to investigate a specific problem
occurs in the work setting that needs a solution.
The purpose of business research is to
overcome the problem related to any filed in a
business organization with providing guidance to
managers to help them in taking some business
decisions.
For example, starting any type of business
requires research into the target customer and
the competition to create a business plan.

4. Who does Research
A business manager faces problem
on daily basis which should be solved
by taking a right decision.
Business research is systematic
approach. It can help the manager to
identify and solve problems.
Some researchers focus on using
research to advance general
knowledge, whereas others use it to
solve specific problems.

5. Research Enhance
Business Performance
A research is done to overcome the management
dilemma and to get new business opportunities.
 All the new and existing business done research to
enhance their performance. Without the research it is
not possible to survive in the market.
The research is mostly done to find out the problem
of the business and the solutions for it. Through the
possible solutions the management can overcome
from their problems and enhance their business.
Mostly research are done to find out the reasons for
decreasing product sales, or launch of new product
in the market and to know the demand of the
consumers.

6. Stages in the Research
Process
1. Problem Discovery
2. Research Design
3. Sampling
4. Data Gathering
5. Data Processing and
Analysis
6. Conclusions And Report

7. Types Of Business Research
1. Basic Research
it is undertaken for increase in
knowledge. There is no direct benefit
as it is a research for the sake of
information. It is conducted to satisfy
any curiosity such as:
(a)what makes things happen,
(b) why society changes and
(c)why social relations are in a certain
way

8. 2. Applied Research
It is use of basic research or past theories,
knowledge for solving an existing problem.
Applied research is designed to solve
practical problems of the modern world, rather
than to acquire knowledge for knowledge's
sake.
The main distinction between applied and
basic business research is: Applied research
is specifically aimed at solving a currently
experienced problem and Basic research has a
broader objective of generating knowledge

9. Research and Decision
Making
The value of research for policy makers, planners,
business managers, and other stakeholders is that it
reduces uncertainty by providing information that
improves the decision-making process.
The decision making process associated with the
development and implementation of a strategy
involves four interrelated stages:
1)Identifying problems or opportunities;
2)Diagnosing and assessing problems or
opportunities;
3)Selecting and implementing a course of action; and
4)Evaluating the course of action.

10. What is the purpose of
Business Research?
To minimize risks
To save time and money during start-
up
To learn where and how to sell the
product and/or service
To learn where and how to produce
and distribute the product and/or service
To determine what it will cost to run
the business and how you will cover
your costs

11. Practical study of Pfizer

12. Introduction of Pfizer
Founded in 1849, Pfizer is the world’s
largest research-based pharmacy company
taking new approaches to better health..
Pfizer pharmacy company has been
working for the health and well-being of
people in Pakistan since 1961.
They are committed to delivering novel
medicines to fulfill medical needs of
patients.
On 8th of September 1961 Pfizer,
established itself as a manufacturing facility
in Pakistan

13. Vision:
“Working together for
a healthier World”
Mission statement:
Our mission is to apply
science and our global
resources to improve
health and well-being
at every stage of life.

15. Research process in
PFIZER
Phase 1.......clinical test
In the first phase multiple salts of new
medicine are researched. Salts are made
of different chemical compounds.
Thousands of chemical compounds are
in the salt. Through the clinical test the
most beneficial compounds are selected
from it and the new medicine is
developed. It takes 3 to 4 years to
research on salts.

16. Phase 2.....vitro lab testing
In the second phase the new medicine are
tested on animals. The Rodents and guinea pig
are the mostly used animals. The reason behind
selecting these animals is that they body
response is like the human beings.
The experiment is taken on 100 to 200 animals
and it takes about one year time.
The artificial problems are induced in the
animals and the new medicine dozed are given
to them. The animals are under observation in
the lab for 3 to 4 years and the performances of
tested animals are measured. If the result is
100% favorable the vitro lab test is cleared.

17. RODENT
Guinea
Pig

18. Phase 3........Human Testing
The next research is on the human
beings. The research is conducted on the
prisoners just to check the side effects of
the new medicine.
The prisoners of death sentences are
voluntarily agreed for welfare purpose. 30
to 40 prisoners are tested and it takes
about 2 to 3 years. After several months,
if no danger is identified, the drug can
pass into the next phase. All this
research is taken under the control of
FDA.

19. Phase 4.......Screening Trials
In 4th
phase The research is conducted on
the real patients who is suffering from the
disease. The research is conducted on the
Asians, European and black patients. The
complete research is under the control of
FDA.
The body characteristics and temperature of
each region is different so the research is
done to know the best result on each region
to develop the product randomized for the
worldwide. It takes about 10 to 12 year long
research to finalize the new medicine.

20. Phase 5
Once a drug has been approved, it still
undergoes monitoring during Phase V.
It is used to watch for long-term side
effects, impact on a patient's lifestyle
and comparative effectiveness to other
drugs on the market.
Even at this phase, which can last for
several years, the drug can still be
pulled from production.

21. PFIZER ENHANCING BUSINESS
PERFORMANCE
Once a Pfizer developed a new product it is
approved by FDA and under the law of FDA new
other company can developed that medicine till one
year so there is a complete control on market and
which increase their customer about that product.
PFIZER developed the product 'Viagra' to control
the blood pressure and it was launched in market
but after the continuous research it was founded
that it can be use for some other diseases. With the
latest development in 'Viagra' it increases its sale
about 40% all over the Pakistan which increase their
profit.

22. The PONSTAN was launched as a pain
killer many years ago. But due to the
continuous research on it. Some new
chemical compounds are added in existing
compounds and now ponstan can not only
used as a pain killer but also cure swelling,
Redness, soreness and allergy. This
increases it sales 100% more than in the
past and now ponstan is the major selling
product of PFIZER.
Now only due to the research these two
products are the major selling products of
Pfizer not only in Pakistan but all over the
world and enhance their business 20%
then in the past.

23. SWOT ANALYSIS

24. CONCLUSION
From the report concluded that research is
very important for the development of
business. Without the research no business
can enhance their performance.
Pfizer is the leading pharmacy company
who spends $7 billion per year on research.
There main research products are ponstan
and Viagra which enhance their business
20% then in the past.
Just because of the highly research they
are the leading pharmacy company of the
world.

25. Recommendations
They should research more to
develop more effective medicines
on cancer and TB.
They should establish their
research plant in Pakistan.
They should also research
medicines for animals.