Business Finance Homework Help

Respond to the following by Critiquing the post on the choice of theoretical/conceptual framework, including suggestions for improvement.

Post #1:

The theoretical framework is critically important when creating a Doctoral Study. It is vital in research because it helps to clarify the theory in a manner that is more clearly defined and provides researchers an opportunity to consider their limitations as well as alternative theories (Holmstrom, 2018). The conceptual framework that I will use for the study is entrepreneurship theory (ET). According to Bula (2016), who researched ET, a small business owner was an agent who takes necessary risks to create an equilibrium between the existing market and the economy. ET was created by Richard Cantillon in the early 1700’s. Cantillon was the initial economist who defined an entrepreneur as an agent who acquired a particular product at uncertain rates, created new combinations of products, and then sold them at a higher price, while simultaneously assuming a risk by examining wealth exchange and international trade (Carlsson et al., 2015).

Leadership theories do not serve the framework of my study. ET applies to my study because sustainability, business education, and management skills are elements of ET used by small business owners to achieve entrepreneurial success (Ayala & Manzano, 2017). Dorin and Alexandru (2017) noted that classical theorists often argued that small business owners can best serve their employees by having a workforce of less than 51 employees. A literature gap exists between small business ownership, achieved success beyond the 5-year mark of beginning operations, and maintaining sustainability, which needs further clarification and research. This clarification is what I aim to achieve at the conclusion of my research. The ET model includes factors that account for financial and resource management, entrepreneurial and personal characteristics, and strategic decision making made by business owners to maintain sustainability. It is my expectation that ET can provide a lens that helps me to better understand and explore strategies that have been implemented by small business owners to sustain their business beyond the first 5 years of beginning operations.

Post #2:

The theoretical framework is used to communicate the theory of a research study in a structured manner. The theoretical framework is the architecture that supports, outlines, and describes the research in detail and serves as a road map for the researcher (Lynch et al., 2015). Laureate Education stated that a theoretical framework is essential to doctoral research providing a clear and concise concept for the study (2016b). For my research study, I will collect data to explore trends and identify themes, patterns, and productivity outcomes to generate a new theory using the inductive reasoning approach (Saunders et al., 2015).

Using the inductive approach, I will research factors and sub factors of managers and leaders and the impact on the federal government’s business division. Data will be collected and used to analyze to support the conceptual framework. Analyzing the collected data will provide the necessary information to develop a theory that will assist federal agencies in making tailored decisions for each business division, minimizing resource waste. A general position description is used for supervisors in most federal agencies, which has proved ineffective compared to the private sector.

In the private sector, each supervisory position is well thought out, and the position description is tailored to obtain the talent needed to maximize the potential for success and productivity. This theory would allow the government to identify the managerial, leadership, and combinations of skills that will produce the maximum efficiency answering the age-old question of whether to hiring a manager who can lead or a leader who can manage. Both positions are supervisory; however, they require different skills and support other functionalities. To develop my theory, I will also use a mixed-methods methodology and qualitative and quantitative analysis to support the study (Saunders et al., 2015). I will use these methods to examine the relationship between numerical and analytical measurable variables utilizing a range of statistical data.