Individual Research Project-Part 1 Godfrey Boyd American Intercontinental University Abstract There are theoretical and philosophical differences between “formal research” and “business proposals”. The advantages and disadvantages related to both can be a benefit depending upon the problem studied. Research is not fully understood in business. This paper will attempt to highlight reasons for limited utilization of research in business. Small businesses are less likely to conduct marketing research. Amy E.
Knaup, an economist with the Office of Employment statistics, Bureau of Labor Statistics reported in 2005, 44% of all new business failed in the first 2 years. Individual Research Project-Preliminary Research Design In business, formal research and business proposals have significant differences and some similarities. It is very important to understand the purposes and goals of each. What are some commonalities? Research and business proposals have similar components. Backround information must be identified for both formal research and the business proposal. (American Journal of Small Business, Vol.
IX, No. 4, Spring 1985. ) When someone conducts formal research or a business proposal, they have similar goals. Research and business proposals are conducted to find solutions, or solve problems. What are some differences? A formal research proposal differs significantly. Both proposals may appear similar. The purpose of formal research is mainly to find data to solve problems or help businesses make improved decisions on daily operations, or use of the best product. Apple’s iPod was a huge financial success in the early to middle 2000s. In 2008, iPod sales dropped significantly. (Business Week).
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Apple introduced and upgraded the iPod after a significant market study indicated that the economy and practicality of use were indicators of decreased iPod sales. The business proposal will focus more on the product and make it more successful. The attitude toward market research from small businesses is also a possible reason for businesses failing in less than two years. (Barnes Journal of Small Busienss Management). The formal research problem can focus on problems that sociological, and present clear concepts. Theory is also a hallmark of formal research. The problem studied and evaluated can be compared to previous research.
Business proposals are more time sensitive. One of the goals of the business proposal is to research and find a solution to why a product is not doing well in a particular market. Time is of essence in business in order for the business to be successful. The formal research may not have a time constraint but the goal is to find a solution or solve a problem. What are some capabilities of one in contrast with the capabilities of the other? Formal research has the capability to pinpoint data through correct analysis. Hypotheses are validated through appropriate statistical analysis.
Business proposals often suggest new products or services with the goal being to make money for the business. The formal research study has the capability to approach the issue theoretically and suggest a practical solution in just what to do to make money. A formal research study will provide valuable conclusions and insight. Formal research highlights complexities, context and emphasizes research. Rigor is the result of carefully collected data and strong accurate investigations. Formal research has to have testability. This means that data was collected correctly and sample sizes were adequate.
A capability of a business proposal is the proposal can be done in relatively shorter time period. The business proposal will focus on a product or a business related problem that needs a solution in order to make money. Method Participant (subject) characteristics Sampling procedures Sample size, power, and precision Measures and covariates Research design Experimental manipulations or interventions Results Recruitment Statistics and data analysis Ancillary analyses Participant flow Intervention or manipulation fidelity Baseline data Adverse events Discussion References
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