Managerial Decision Making

Part 1: Comparing and contrasting Formal research and business proposals

Differences

Formal research and business proposals differ from each other in a very significant way. However, the two classes of proposals may seem similar but there are critical differences between the goals and purposes of formal research and business proposals. The differences between the two are very distinct and knowing the differences makes it easier for the writer to effectively comply and complete formal research and business proposals (Bazerman, & Moore, 2009).

Proposal Goals

The overview section of the proposal in any type of proposal contains the overall goals and objectives of the proposal. The introduction deals with the succinct aims which are to be addressed in the proposal. The goals of a business proposal are very different in general as compared to the goals of a formal research proposal (Pfeffer, 2007). This is due to the fact that a formal research proposal always focuses on the search of particular information and data. The main goal of the data findings is to provide better decision making opportunities for any business which the proposal is made for. In contrast to this, a business proposal proposes new products and services for a business which is in operation or which is intending to start operation. The key goal of a business proposal is to make money for the business. A business proposal follows a practical approach whereas; theoretical approach is kept in a formal research proposal (Bazerman, & Moore, 2009).

Proposal Sections

A formal research proposal and a business proposal both start with an introduction and end with a conclusion usually but the sections in between both the proposals differ from each other. E.g. a formal research proposal holds the sections of methods which are to be used for conducting the research and also provide the information on how data is collected. Then a data analysis is there in which the collected data is analyzed and the results and mentioned following recommendations which are to be proposed (Buckley, et.al, 1998). In a business proposal does not have any method section because the research has already been conducted for the product which is to be proposed, instead; a suggestion of the proposed products or services is there. In addition to this, a formal research proposal includes the discussion and a literature review which provides the background of the topic description and also provides the information about the previous research progresses made in the field of the topic, whereas a business proposal contains a full-out budget which allows the proposer to start the project in question (Buckley, et.al, 1998).

Research's Role in Business Proposals

Research plays a vital role in the development of a business proposal. A formal research proposal is usually made for the determination of the changes that are due to be made in a business for better and efficient performance. The business proposal is made after conducting a comprehensive research, thus a formal research proposal is made first and then a business proposal is made if ...