Although this is the case, the qualitative goals which are referring to the customer-perceived factors of quality on the basis of products or services, are considered as the most important. This is the goal to achieve customer satisfaction which can be related to the fact that quality of services and products can be translated to competitiveness of the company (Karlof, 1993, p.83). This means that targeting customer satisfaction is taking the strategic efficiency route as well as the competitive advantage to success instead of the operative efficiency (p.5-7).
Examples of companies that operate on this philosophy are the up-market car brands such as Jaguar, Mercedes, BMW and Saab (Karlof, 1993, p.5-7). It is important in the changing modern economy though to have balance between customer satisfaction and cost efficiency to be able to survive. But if one factor should solely be chosen, quality of services offered and products manufactured should be the main priority.
The knowledge of the difference between business research and reporting can be considered as a fundamental business concept needed in the establishment and operation of any type of business. Business research can be defined as the data gatherings techniques undertaken in relation to business. It also covers the analysis of the data gathered with the aims in lined with the improvement of the business in terms of profitability and customer satisfaction (Bryman and Bell, 2007).
Business reporting on the other hand, deals with the presentation, delivery and dissemination of the gathered data and information regarding the operation and management of the business. In the development of new technology, new ways are being used in the said discipline such as computer-based business reporting (Beattie and Pratt, 2003, p.155). One example of the development in business reporting is the EBR or the Enhanced Business