In some cases they didn't even know why they were doing research, but just wanted to know more about market. In other cases management could have saved company a lot of money by just listening to feedback from frontline sales reps.

In other instances company initiating research failed to ask right questions or research was done to postpone a decision rather than to assist in decision-making.

Market research can be an extremely valuable tool when used wisely and it doesn't always need to cost earth. For example, you could send out a questionnaire to existing customers with your monthly accounts. Telephone surveys can be reasonably inexpensive and students are often keen to do this kind of work.

Even an old-fashioned suggestion box can sometimes yield some valuable information.

The important questions to ask yourself before undertaking any research are:

1. What do I want to know? 2. Why do I need this information? 3. What decisions will I take once I've got it?

Answering these three vital questions will lead to ACTIONABLE RESEARCH rather than research that tells you lots of "fascinating" facts but doesn't help you make any decisions.

Let's get real. Arthur Andersen LLP is fighting to remain in business -- and so far battle is going strong. The Big Five service company, known as Cadillac of professional firms, is working around clock to resolve possible criminal charges but as it stands right now, verdict has come in. A federal grand jury has indicted Andersen accounting firm, charging it with obstruction of justice, first criminal charge brought in scandal surrounding collapse of energy trader Enron Corp. The firm vows to fight and is also negotiating a sale of some or all of its operations to KPMG, Deloitte Touche Tohmatsu or another competitor. In addition, firm is trying to unflinchingly stop a stream of client defections; those who have already left include Merck, Federal Express, Sara Lee, among dozens of others. Separately, UtiliCorp United Inc., third-largest remaining U.S. auditing client for Andersen is continuing to retain them. All in all though, it's been a terrible time for accounting giant - and it isn't over yet.

What are chances for survival for Arthur Andersen LLP? I'd say pretty good.

Andersen has been looked upon as a public guardian, setting standards for all involved. After its involvement with Enron, their reputation may be tarnished but not beyond repair. We all mistakes but it doesn't mean that's who we are. We have to correct our mistakes, learn from them and move on. The end result is that it makes us stronger but you can't get stronger if people don't allow you a second chance as in case with Justice Department's action against Andersen, not to mention clients running off scared.