Business Research Request and Proposal

Business Research Request and Proposal

Introduction

Business research is one of the most important aspects for the viability and expansion of any business. For the research to be successful and result in a significant outcome, appropriate planning should be done beforehand. This planning process is precisely demonstrated by the proposal process. The proposal stage in the research process is the stage where the business or the firm seeks adequately documented proposal so that specific direction to their research could be provided. The proposal process primarily depends upon two inherent processes, which basically are Request for Proposal (RFP) and the Research Proposal (Cooper & Schindler, 2008). The proposal process employed by the business though depends mainly on the option it uses to conduct their business researches. It is because any business could either have in-house research department or it could outsource their research projects to the third party; which could be research centers or specialists in addition to the consultancy firms. Thus, if the business has in-house research department, they would be skipping the stage of RFP to focus directly upon the internal research proposal. But usually it is seen that businesses do not keep this function internal because of the lack of resources thereby outsourcing it to the third party research suppliers. This is the option where research proposal process is followed in its entirety; proceeded on stage by stage basis.

Discussion

This research will focus upon the Request for Proposal (RFP) stage of the Proposal process. It is because most businesses usually outsource the segment of research due to stringent economic conditions which prompts shortage of required resources for the department to be effectively run. The research will highlight effective practices and approach for the undertaking of research project, through the requisition of effective research proposal, by the business. This will be discerned through examining the approaches that are usually used by the businesses along with the subsequent impact it registers. It is imperative to make sound recommendations as this will result in an informed decision making since all the approaches would have effectively been analyzed along with the impact it produces.

Request for Proposal

Request for Proposal (RFP) is pre-dominantly a request that is issued by the business or its research department for the purpose of specific research to be needed. This is the focus of our study because it defines the domain of the requests that will eventually be received by businesses. Thus to avoid the waste of resources and inculcate efficiency, it is imperative for the request for proposal to effectively address its need and the requirements of the business research that they want the research supplier to fulfill (Grant & Allen, 1999). This imparts the importance of the RFP and thus the due diligence with which it is required to be created, with the consideration and incorporation of all the important aspects in the request.

This formal document that is issued by the business to solicit services of the third party research specialist firms is ...