Formal Research vs Business Proposal Essay

Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.

The exploratory research process is somewhat analogous to a signal detection and amplification system. The output is a new strategy and/or a roadmap for new research developments. The input must be identified through constantly scanning or “sampling” the environment for new research developments, then filtering these “signals” to identify a subset of potentially relevant opportunities. These opportunities must then be “amplified” through internal and external research before making a strategic decision to move them toward technology and product development [1, 3].

Q1: What are "make-to-order" (MTO) and "make-to-stock" (MTS)? Why did EA cakes want MTS over MTO? Do you agree with such a decision? Why or why not?

This lesson allows you to elaborate on the work you did in Lesson 12. Using the research proposal you developed in Lesson 12 as a foundation, choose a sampling methodology that compliments your original proposal. Do not include specific questions in your proposal. Use the structure illustrated below. The proposal will be evaluated using, in part, your use of the methodologies described in the text.

Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.

In business, managers need to respond to any issues that may arise in the business. While one may be prone to do this based on past experience, the wiser choice would be to use business research to gather the information to make decisions as business research will increase the likelihood that the solution would make a positive impact. According to Business Research Methods, the definition of business research is the structured questioning which provides information by which to guide wise decisions that maximize the impact of the

In order to stay relevant and competitive in a global marketplace, companies must be able to be innovative and inventive. Therefore, new products and services need to be launched in order to keep from losing market share. Though most of the ideas for new products and services never see the end user, the ones that do have been through an intensive process in which the company lowers their risk of investment. For a high-end adult clothing line to launch a high-end children’s line, the idea must pass through proper screening in order to justify moving it forward to development. In order to create the parameters, the R-R-W (“real-win-worth doing”) new product screening framework should be implemented using market research as answers to key question.

Business research is a methodical process in which a company or manager recognizes a need for data in order to make effective business making decisions. “More specifically, it is a process of planning, acquiring, analyzing, and Disseminating relevant data, information, and insights to decisions makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize performance” (Cooper and Schindler, 2011, p. 10).

The study looks in-depth at the direct effect of new ideas on the progress of any business. The study focused on trying to look past the overt benefits like profit, dividends, revenues etc. that a new business model would bring to a striving organization. The study researched into the adaptability of many of these companies interest into entering the always changing local and international markets, and also what steps that would need from each model to be successful in doing so. It also showed that trust is part of making strong business sense decision.it also spoke of developing more business links and better understanding of standard principles were fostered by the incorporation of new ideas into any business. This study was useful in the sense that it uses a business model which allows companies to follow a business plan and not to go into a major business idea without a sound thought process.

Most of the businessmen consider market research the key to a successful business empire. It is quite essential to conduct a thorough research to analyze the prospects of an existing or new product. A well-conducted research proves fruitful in evaluating the business situations, the potential sales of a product, prospective customers and so forth.

Joe is in need of some critical information in order to formulate the right business plan for his new coffee shop. Joe situation will require a research program because he is faced with numerous decisions that require series of studies to address multiple deliverables.

1.What are the major business propositions for Woodmere and HomeHelp to consider in evaluating this proposal?

This section of the proposal requires classifying the category or business discipline in which the proposed business would fall in. In my view in order to develop or introduce a new product/service Ansoff’s Business Matrix would be a good strategic approach to screen and narrow the choices. This tool will be helpful in effective business planning.

Before starting a business, entrepreneurs need to take and use the methods to generate creative ideas for product to be marketed and test new ideas. The methods are the focus group method, brainstorming, brainwriting and problem inventory analysis. These methods are best suitable for an organization that needs expansion in products or services

The chapter three of the book provides measures which the research candidate should maintain when presenting his/her proposal to the research supervisor. The authors mentioned the major features which should never be avoided which they listed and explained as follows;