should we rely on information available on internet ? why ot why not ( value based question)
Answers
Answer:
In today’s internet age it seems like information is widely and almost instantaneously available. Just open up a web browser and type your search into Google and thousands of hits show up in less than a second. But how much of that information is accurate?
Precise data is critical to every business decision, especially when determining your strategic plans for growth. When pursuing M&A, understanding the market landscape and future demand of your customers is essential for the success of the deal and the growth of your company. If you develop your acquisition strategy based on unverified or inaccurate data, you risk making an expensive mistake.
While the internet can be a good place to start your research, you really need to dig deeper to get the complete picture. One of the best ways to get an accurate picture of the marketplace is by conducting primary research, where you talk directly key players in the marketplace. We use a technique called the “Triangulation Approach.” You will be speaking with three main groups:
Customers of the product or service can help you identify unmet needs. Ideally you should speak with a mix of large and small customers.
Competitors will help you identify what it’s like to exist in the market what affects their business on a regular basis, and give you an about the competitive landscape. It may be a bit tricky contacting competitors, and you may want to consider using an outsider third party for this research.
Suppliers are those who sell into the market and whose customers may be your future competition. For example a part maker or tire maker in the auto industry.
Lastly, to tie all your research together you will want to speak with trade associations, industry publications, government or even academia. They will generally be more objective and have a broader view of the market and can even help with market segmentation. We have found in particular magazines of trade associations can be extremely helpful. Those writers generally have a good pulse on the industry while maintaining a big picture view.
The Triangulation Approach
The Triangulation Approach
The main benefit of using the Triangulation Approach is that you obtain information from multiple sources in order to confirm or deny information found in secondary research. When speaking to customers or competitors it is impossible to get 100% information, but through multiple conversations you will be able to compare and contrast information. Using the triangulation approach, you can put together a holistic, accurate view of the marketplace.
Armed with this information you will have a clear picture of future demand and be able to make the right decisions for growing your business through M&A.
Answer:
no.
Explanation:
we can't rely on it as sometimes the info given is not accurate or precise.
for example a net worth of a music artist is on the internet but not accurate as it is given by someone's own calculation. A history about a place maybe be more accurate in book or known by local than on internet. the web can be used as a reference or starting point in some cases but not to be relayed on.