Business Research Plan Essay

1567 Words Dec 9th, 2013 7 Pages
Unit 1 Individual Project
MGT600 – Business Research for Decision Making

April 7, 2013


Functional companies in today growing economy use Formal Research and Business Proposals to effectively conduct business. Both methods are clearly different in meaning and purpose, however the two are intertwined. Formal research and Business Proposals both have applications and values in a business setting that will be discussed in this research paper. The theoretical framework and the research design relating to collaborative technology in virtual globalization will be discussed. (Sekaran & Bougie, 2010).

Part 1 “Formal Research” versus “Business Proposal”
In Part one of this research paper I will be
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Formal research reports will reveal whether the market for the specific product is saturated or indeed a ripe business opportunity.
“Researchers have found that people rely on a number or simplifying strategies, or rules of thumb when making decisions” (Bezerman & Moore, 2009).
Business Proposals are official well written documents with instrumental facts about the company that is used to promote a new potential business venture. In a proposal an organizations profile as well as the service and products offered are described. These components about the company helps convince new prospective client about the benefits that the company can provide. The sole aim of drafting and sending a business proposal is to persuade the client to purchase the product or service by the company. Business proposal identifies the current target markets needs and demonstrates how the company’s solutions can be delivered to potential buyer in that market. Companies must communicate to the target customers, in a manner to help them solve complex problems or fulfill a need currently unavailable. Generally in a business proposal companies seek to implement strategies that correct problems or present strategies that gain a competitive advantage. The strategies can be surveyed internally, documented and the presented in a well

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