Provide a relevant business example for each phase.

Exhibit 2.1 The Basic Business Research Project Phase I: Formulation Decision-making process Confirm need Define the problem Review literature and examine theory Develop questions and objectives Specify hypotheses Formulate research design Phase III: Analytical Phase II: Execution Analyze data Interpretation and inferences Support/No support? Identify limitations Prepare report Select sampling method Design data collection forms Collect data Check for errors Code data Store data