Which of the following best describes the difference between basic and applied research?

Basic research is directed at developing models that generate knowledge without an immediate practical application, often conducted in academic settings. Applied research aims to solve specific practical problems within organizations, with the knowledge generated being directly implemented to address current issues.

Both basic and applied research are primarily conducted in academic settings, with the goal of generating models and theories that have no immediate application in the real world.

Basic research and applied research both aim to solve current practical problems within organizations, but applied research does so on a more theoretical level.

Basic research is focused on solving immediate practical problems within organizations, aiming to provide quick and actionable solutions, whereas applied research is directed at generating theoretical knowledge that may eventually benefit managers by offering strategic insights for long$-$term planning.