Both academic and business research share much in common but are also distinct from each other. For example, both are efforts at investigation or exploration but each is geared toward a specific audience. According to the Department of Education, Science and Training (DEST), research is defined as ôwork undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and societyö (Definition 1). Most academic research aims to increase the stock of knowledge of a given discipline (biology, business, education, etc) by adding something original to the stock of knowledge or providing something information that may be practically applied within a discipline. Most business research is specifically designed to enhance business productivity and functioning by uncovering information previously unknown. There is a significant degree of overlap between academic and business research, however. This analysis will explore the similarities and differences of academic and business research.
Academic research has as its audience other academicians in a particular field or discipline. Academic research typically includes quantitative or qualitative research designs that attempt to prove or disprove hypotheses in a manner that leads to an increase in the stock of knowledge of a given field or discipline. The audience for business research is the organization and its managers and stakeholders. Business research generally aims to uncover new information or knowledge that can be used for a specific purpose. Academic and business research can include either basic or applied research. Straight basic research is experimental and theoretical research ôundertaken to acquire new knowledge without looking for long term benefits other than the advancement of knowledgeö (Definition 1). Applied research also aims at the discovery of new knowledge but for a specific beneficial purpose, ôeither to d...