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Managerial Decision Making

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Part 1

The term "formal research" traditionally refers to conducting an experiment under controlled conditions in order to discover, demonstrate or test a hypothesis. On the other hand, a "business proposal" is considered the systematic gathering of information with the intent of arriving at an optimal solution for a given problem or situation. Each one has its application and value in the business setting, yet there are also attributes that are unique to each one.

For the first part of this assignment, compare and contrast the theoretical and practical differences between "formal research" and "business proposals". What are some commonalities? What are some differences? What are the capabilities of one in contrast with the capabilities of the other? Use sources available on the web, the library from the textbook to support your arguments and remember to include these sources in the references section of your paper.

Part 2

For this second part, search one of the five "testable statements" (hypothesis) listed below and conduct a survey of the literature using one of the article collections (databases) in the Library. Based upon the elements of how to construct a literature review suggested in the Sekaran textbook and additional sources, prepare an actual 3-4 page Literature Review (Step 2 of the Sekaran process) that address the most relevant findings reported in research articles which address your chosen hypothesis. Pick one of the following hypotheses to compose your Literature Review:

H1: Virtual groups can be seamlessly substituted for face-to-face group interaction in business organizations.

H2: Organizations with clearly defined cultures tend to be more effective than organizations with less defined cultures.

H3: Resilience is a significant factor in employee's commitment to organizational change.

H4: Mature, effective leaders will have higher degrees of character strength.

H5: There is no relationship between job stress and performance.

The response addresses the queries posted in 1169 words with references.

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Solution Preview

The response addresses the queries posted in 1169 words with references.

// Formal Research and business proposal both have the implications and significance in the business decision making and development. In this article we will compare and contrast the two, and elaborate the differences and similarities between them.//

The term "formal research" traditionally refers to conducting an experiment under controlled conditions, defining and redefining problems, formulating hypothesis, making deductions, reaching conclusions, and testing the conclusions to conclude whether, they validate the formulating hypothesis. Various quantitative techniques are used to validate the hypothesis and then the results are generalized to other settings while, the systematic gathering of information with the intent of arriving at an optimal solution for the given problem or a situation. On the contrary, Business proposal is a formal way of written communication between buyer and the seller, designed to convince the requesting party or government agency for the project, the company wants to initiate. While, they appear similar, there are differences in overall goals, purposes, format, sections, and uses (Jane, 2011). The major differences between the two are:

l Goal: The formal research focuses on finding specific information or data, whether, related to budget, market or customers in order to enhance the decision making process, while, business proposal is a business development tool used to find new ways of doing things with the final goal of increasing profit and income.

l Approach: Generally, formal research has theoretical approach, as it uses various theories to support the variables in the hypothesis, while, the business proposal has a practical approach for decision making in a business.

l Proposal sections: The formal research primarily emphasizes on research methods that are used to collect information and data, while, a business proposal does not involve this section, as it suggests the projects on which, a research is already conducted. The formal research has a brief detail about cost of the ...

Solution Summary

The response addresses the queries posted in 1169 words with references.