Effects of the Proper Research and Strategic Management Lit review
Brainstorming new great ideas is always fun especially when its something that interest you and that you have a passion for. Having a special interest will help you to keep focus on your main goal and ultimately gear you towards the goal that you set forth. You always make sure that the information that you receive is useful (Lawler, Jossey-Bass, 1985). Before you can make a goal for this specific area of interest some may say it is wise to set forth some kind of order by making a plan first. Here is where the hard work comes in and where you really want to get into the nitty gritty by conducting a concise form of research. By conducting a form of research it may very well help you to accumulate most of the information you will need to gain the necessary tools to assist you with your final outcome. There are many ways to research a topic, but you always want to find the research that is the most effective for your product and or service.
Formal research is a form of conducting an experiment under controlled conditions in order to discover, demonstrate or test a hypothesis. For example a company may conduct formal research on a specific product that they would like to introduce then research competitors and evaluate how market the same product and how well they have succeeded based on a studied hypothetical assumption (What Is the Theory on a Business Proposal Vs. A Formal Research, by Mary Jane, Demand Media, paragraph).
Formal Research Example 1
In business it is very important to conduct research so that you gain insight on what product that to are selling, the customer whom you are selling to, and the competitors who you would be in competition with. In a lot of cases formal research can give save your company money and gain the company more insight on what to do in certain cases and what to focus the business strategies on. In some cases conducting a simple mail questionnaire for small business to investigate experiences with an attitude towards formal marketing research was a eye opening conclusion when viewing the results. The business that had did the research had a more positive attitude towards the cost and benefits of doing the actual research as well as being more confident in the market area having a better outlook in the future for the company as a whole (McDaniel, S. W., & Parasuraman, A. A., 1985).
In a business proposal you are gaining more of a systematic gathering of all information with the intent of having at an optimal solution for a given product, service, or a certain situation.
Business proposals have often suggested new products or services, this meaning it can be new to your market and or the company as a whole but usually means that the goal is often to make money for the business. The approach for business proposal is to analyze different alternatives, for formal research is related to performing an...