Formal Research or Business Proposal

Abstract

When a business makes a decision, information can mean whether the business can make a change or if that change is right for the business. Formal research is one way to get and generate information needed, and a business proposal is the gathering of information focused on that goal. A business must know which way is the right way to go for a decision, and knowing which of these is viable for a goal is key.

Part 1

Formal Research or Business Proposal

For a business, making a decision can involve many things. What a business needs to make that decision can come from a few different ways. Formal research and business proposals are two of those ways. Each has positive and negative things that a business has to look at as well. To decide which is the best course of action a business must know how each works.

Formal research is the studious inquiry for information. It involves an investigation or experiment that is particularly goaled at discovery and getting facts (Merriam-Webster, 2013). A business proposal is the systematic gathering of information for a specific purpose to arrive at an optimum solution for a specific problem or situation. With each one, there is a value for a business. Each has its own way of getting to the bottom of a situation and each has unique positivity’s.

Formal research has long been used by scholars to experiment and collect data for a specific area of interest. This research is to test hypothesis and demonstrate different ways to solve an issue. For a business, formal research includes knowing what needs to be researched, using questions to define what needs to be researched, utilizing experts to plan and execute research, having valid samples for comparison, and keeping track of everything. Knowing what a business needs is a key factor in researching for a business. This can include customers and their needs, what the competition is and how they will affect the business, and who will benefit from the business itself. Formal research is complex and using all resources for information is key to having a result that can stand on its own (Spaeder, 2012).

A business proposal is a gauge of the viability of a business on the market. This involves systematic research of the market that the business is in. A proposal can be used to show a target market and show what product or services should be delivered to that market. A business proposal targets a specified problem or goal for a company (Simply Business, 2012).

There is a difference between these two. Formal research focuses on everything that could impact the research, while a business proposal is focused on the goal. Formal research may