Managerial Decision

Abstract

The purpose for the first part of this paper is to compare and contrast the differences and commonalities between formal research and business proposals. I will define the two and also explain why it’s important for managers to be knowledgeable in them. The second part of this paper covers a literature review of the effects of human resources outsourcing. I have researched many articles for this topic collecting evidence including them with references.

Part 1

Formal research and a business proposal go hand in hand. Without the research, the proposal is useless. A formal research provides basic information and statistics in a given field or industry, depending on the focus decided by the company. “A company may research the demand for a specific product by researching similar products on the market, the general sales rate, a list of companies that produce the product and how much it is selling for. A research report will show whether or not it is going to be a good business opportunity for the specified product.” (Jane, Mary. Theory on a Business Proposal vs. Research. Chrone.com. Retrieved March 21, 2012 from http://smallbusiness.chron.com/theory-business-proposal-vs-formal-research-21250.html)

A business proposal is a document that suggests a method for completing a task, whether it is launching a new product or implementing a new marketing campaign. A proposal includes a brief description of the task at hand, a section describing the general approach to the task, a schedule for the task in question and a budget that outlines all expenses associated with the task. Detailed proposals include an outlook section that predicts how the company will benefit from this particular approach. This is common for projects that have several proposal submissions.

Being a good manager requires an individual to be knowledgeable about the not only the business but how to deal with its employees. Both formal research and business proposals require specific steps that must be taken to acquire specific information in which leads to a particular result. “Research provides the necessary information that guides managers to make informed decisions to successfully deal with problems.” (Uma Sekaran & Roger Bougie. (2009). Research Methods for Business. United Kingdom: John Wiley & Sons Ltd.)

A business proposal is an analysis of alternatives while a formal research is an experiment. A proposal is a search for current data sources available and making a decision. With research, you must generate your own data to make a discovery. A proposal is previous or similar internal situations or cases from the competition and research are ideas based upon the results of other researchers.

While formal