Managerial Decision Making & Research Design Essay
Formal research and business proposals are different In many ways but also share some commonalities. However, in some instances to arrive at an optimal decision these two work hand in hand with one another. Depending on what decision managers are faced with choosing the right path of “formal research” or “business proposal” or “both” needs to be determined.
Introduction Whether you are conducting research or creating a business proposal the process of OTOH is used by management of any organization when trying to solve a problem, answer questions, or solicit new business. Research and the business proposals are at times used hand in hand; however some managers use one or the other. There are many differences between the two. Seekers and Boogie (Bibb define research as “simply the process of finding solutions to a problem after a thorough study and analysis of the situational factors”.
Business proposals have a somewhat different definition, according to Lira Hopkins (2010), “a business proposal is a written scheme from a seller to a prospective customer. With the definition of both research and business proposals, you can see how they can work together or alone to solve a situation. In this paper I will discuss some of the differences and a commonalty between the two and what the capabilities are with one another. Formal Research vs..
Business Proposal Part 1 Formal Research Following the steps in Seekers (2003) research process you would begin by observing the situation, gathering data, and reviewing in order to clearly define the problem. Formal research needs a strong framework of being proscribed, goal intended, and efficient gathering of data. Following the steps thoroughly will yield an end result that will help the manager to make valuable decision. Formal research yields the crucial information and is essentially used to provide answers for managers to solve problematic areas.
Some of the most important information that research yields to managers is alternative solutions for effective decision making (Seekers & Boogie, 2010). Researches propose includes the generation off hypothesis to confirm quantitative measures. Along with a strong frame work when conducting a research you need to a have a your topic to arrive at a solution. The questions that are developed should generate an answer that can be clarified and proven with the research conducted. Business Proposal Business proposals are generally used for the solicitation of business.
Business proposals are used for many reasons, one being the desire to obtain funding for the product or ideas being projected. Business proposals have an intended audience, weather it is for a potential investor or potential customer. Depending on your audience the proposal is written for them, it should be written for the main purpose of persuading the client. If the proposal is for a potential investor you would provide ore details pertaining to the financial outcome of the proposed and provide a detailed rationalization of how your organization can provide an optimal decision for the problem presented.
If the proposal is written for a potential customer you would provide reason why the customer should do business with you over the competitor. A creditable proposal with evidence that your company is the best choice for them will give your business the edge above competition. As with formal research there is data collection in a business proposal. The data collection is not as intense or lengthy. When gathering information for a business proposal you first need to know who your audience is. To have an effective proposal you need to know the wants and needs of you audience and provide them with a solution.
Giving a number of reasons as to why your company can provide a solution to the client’s problem should be supported by facts that will make the proposal authentic (Hopkins, 2010). Formal research is written as an abstract and in PAP format, whereas a business proposal is an executive summary and can be written in many different formats. The information gathered for both are quite different. The information gathered in conducting a research is derivative from other researchers and the information gathered when creating a proposal is from similar situations internal or from competitors (Prism Leadership, 2010).
The objective of business proposals is to generate more business from current and new clients. Research is conducted to prove something; it will generate an answer or solve the problem determined. Conclusion As you can see formal research and business proposal are different in many ways. When you are in a management position in the business field it is extremely important you choose the right process of leading a formal research, business proposal or a combination of both. Ask yourself, “What it is that you desire to achieve? And it will direct you down which process is best. Whether you construct a formal research or a business proposal, do so with certainty. Part 2 In the hypothesis, “There is no relationship between a sense of employee empowerment and productivity’ I would have to disagree with this. A hypothesis is, “a tentative statement about the relationship between two or more variables”, (Cherry, 2010). Cherry, also describes a hypothesis as a specific, testable prediction bout what you expect to happen in your study.
This hypothesis may have had some merit to it at one time and may have been what was predicted when the study was The above hypothesis is a strong statement that may have had some merit in the past but in today economy employee empowerment and productivity have been linked together to be successful. McIntyre (2010) states that “empowering employees improves motivation and productivity’. Empowering employees has been found to have a profound outcome on how successful an organization is ran. When an employee feels their part of the decision making process and that their work and ideas matter it gives them a sense of pride and Job satisfaction.
When an employee is happy they will be motivated and become more productive, which in turn will help management and employees meet the goals set forth by the organization. Employee empowerment not only increases employee productivity it will increase customer satisfaction. When an employee is empowered to make an immediate decision without having to receive management approval it allows the employee to take care of the customer complaints before they become escalated. When an employee has the empowerment to make decision it gives them the sense of pride and ownership f their position.
When an employee is satisfied with their Job, their attitude toward their Jobs and co-workers is a sense of pride and commitment. Employee empowerment is not something to be looked at lightly. Giving employee’s power without setting regulations and policies as a guideline for them to follow when making a management decision has been proven not to be successful. Smith (2001) found that employee empowerment in a retail environment was implemented without setting up communication with the employees as to what the goals of their new found empowerment were.
Because of the lack of communication and monitoring with the employees the employee empowerment program was a failure in this instance. Smith goes on to describe that an employee empowerment program can be successful if all employees understand the mission behind the empowerment. In some instances employee empowerment is not for everyone. There are employees who will not strive in this type of environment and work well in a more structured environment. If these employees are put into a situation they are not comfortable with, their Job satisfaction and productivity will decrease.
It is very important that the organizations management research and develop goals and policies before implementing an employee empowerment plan. No matter what type of business you are in when employee empowerment is given with an understanding what the goals and limitation are, it can be a success.