Managerial Decision Making & Research Design
Managerial Decision Making & Research Design
Unit 1 Individual Project 1
Mgt 600-1005A-06 Business Research for Decision Making
AIU Online
January 8, 2011
ABSTRACT Formal research and business proposals are different in many ways but also share some commonalties. However, in some instances to arrive at an optimal decision these two work hand in hand with one another. Depending on what decision managers are faced with choosing the right path of “formal research” or “business proposal” or “both” needs to be determined.
Introduction
Whether you are conducting research or creating a business proposal the process of both is used by management of any organization when trying to solve a problem, answer questions, or solicit new business. Research and the business proposals are at times used hand in hand; however some managers use one or the other. There are many differences between the two. Sekaran and Bougie (2010), define research as “simply the process of finding solutions to a problem after a thorough study and analysis of the situational factors”. Business proposals have a somewhat different definition, according to Lara Hopkins (2010), “a business proposal is a written scheme from a seller to a prospective customer.” With the definition of both research and business proposals, you can see how they can work together or alone to solve a situation. In this paper I will discuss some of the differences and a commonalty between the two and what the capabilities are with one another.
Formal Research vs. Business Proposal
Part 1
Formal Research Following the steps in Sekaran (2003) research process you would begin by observing the situation, gathering data, and reviewing in order to clearly define the problem. Formal research needs a strong framework of being proscribed, goal intended, and efficient gathering of data. Following the steps thoroughly will yield an end result that will help the manager to make valuable decision. Formal
Unit 1 Individual Project 1
Mgt 600-1005A-06 Business Research for Decision Making
AIU Online
January 8, 2011
ABSTRACT Formal research and business proposals are different in many ways but also share some commonalties. However, in some instances to arrive at an optimal decision these two work hand in hand with one another. Depending on what decision managers are faced with choosing the right path of “formal research” or “business proposal” or “both” needs to be determined.
Introduction
Whether you are conducting research or creating a business proposal the process of both is used by management of any organization when trying to solve a problem, answer questions, or solicit new business. Research and the business proposals are at times used hand in hand; however some managers use one or the other. There are many differences between the two. Sekaran and Bougie (2010), define research as “simply the process of finding solutions to a problem after a thorough study and analysis of the situational factors”. Business proposals have a somewhat different definition, according to Lara Hopkins (2010), “a business proposal is a written scheme from a seller to a prospective customer.” With the definition of both research and business proposals, you can see how they can work together or alone to solve a situation. In this paper I will discuss some of the differences and a commonalty between the two and what the capabilities are with one another.
Formal Research vs. Business Proposal
Part 1
Formal Research Following the steps in Sekaran (2003) research process you would begin by observing the situation, gathering data, and reviewing in order to clearly define the problem. Formal research needs a strong framework of being proscribed, goal intended, and efficient gathering of data. Following the steps thoroughly will yield an end result that will help the manager to make valuable decision. Formal
References: Bazerman, M., & Moore, D. (2009). Judgment in managerial decision Making(7th ed.). Hoboken, NJ: John Wiley & Sons, Inc. Cherry, K. (2010). What is a hypothesis?. Retrieved from http://psychology.about.com/od/hindex/g/hypothesis.htm Hopkins, L. (2010). Definition and elements of a business proposal. Ezine Articles, Retrieved from http://ezinearticles.com/?Definition-and-Elements-of-a-Business-Proposal&id=2822583 McIntyre, S. (2010, May 17). Create a work environment that promotes employee empowerment. Retrieved from http://www.suite101.com/content/create-a-work-environment-that-promotes-employee-empowerment-a238114 Prism Leadership, Consulting. (2010). Comparative table: differences between a business proposal and formal research.. Retrieved from http://www.prismleadership.com/600/compare.htm Smith, M. (2001). Deane-draper stores: employee empowerment in a retail environment. Accounting Education, 10(2), 199-206. Retrieved January 07, 2011 from the Business Source Premier database.