Question
upstudy study bank question image url

Which of the following is not an advantage to hiring an external research consultancy versus conducting research in-house? More likely to remain objective and unbiased May have access to comparative data Generally cheaper

Ask by Smith Watkins. in the United States
Jan 24,2025

Real Tutor Solution

Tutor-Verified Answer

Answer

"Generally cheaper" is not an advantage of hiring an external research consultancy.

Solution

The option **"Generally cheaper"** is **not** an advantage of hiring an external research consultancy compared to conducting research in-house. In fact, external consultancies often come with higher costs due to their specialized expertise, resources, and overheads. **Advantages of hiring an external research consultancy include:** 1. **More likely to remain objective and unbiased:** External consultants can provide an impartial perspective as they are not influenced by internal company dynamics. 2. **May have access to comparative data:** They often have access to broader datasets and industry benchmarks that might not be available internally. **"Generally cheaper"** is typically **not** an advantage, as external consultancies usually involve higher expenses compared to maintaining an in-house research team. **Answer:** Generally cheaper

Reviewed and approved by the UpStudy tutoring team

error msg
Explain
Simplify this solution

Mind Expander

When it comes to hiring an external research consultancy, objectivity is a significant perk! External consultants can provide fresh perspectives and are less likely to be influenced by internal politics or biases, ensuring that the research findings are grounded in reality rather than preconceived notions. On the flip side, while external consultancies may have advantages in expertise and data access, they often come with a hefty price tag. Conducting research in-house can sometimes lead to cost savings as organizations leverage existing personnel and resources, making "generally cheaper" the incorrect choice when weighing the benefits of external versus internal research efforts.

Latest Economics Questions

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy