INTRODUCTION
IMPORTANCE OF RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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During the pandemic, many businesses were closed leading to an increase of the unemployment rate in the community. What is the importance of research in this scenario?
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Research can help the entrepreneurs to cope up during pandemic.
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Research may provide an accurate prediction on the scenario in the next 6 months.
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Through research, the government can provide an information explaining why this problem occurs.
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Using research, the government may develop an effective intervention program to help the workers and business owners.
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Explanation:
Detailed explanation-1: -Unemployment rate in urban areas rose to 20.9% during the April-June quarter of 2020, more than double the unemployment rate in the same quarter the previous year (8.9%). Unemployment rate refers to the percentage of unemployed persons in the labour force.
Detailed explanation-2: -Considering the uncertainty and unprecedented challenges that this period presents, it is important for businesses to change how they operate and serve their customers. A shift in strategy will help businesses take better care of employees, satisfy customer needs, and enhance the company’s financial health.
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