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Best source of funding for research organization Essay

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There are a number of ways of funding research programs to help medical clinics; we may have an aspect where the government lends a hand or seeking the indulgence of the pharmaceutical companies. (NCSL, 2014) The above stated are two of those ways. Acceptance of offers to carry out research depends on the wishes of beneficiaries; they get to choose whom they perceive to be their best options. (U.S. Congress, 2006) Grants by the federal government may be defined as the assistance in monetary terms offered by the American government. (NIST, 2014)The government assistance has to conform to the laws and regulations set about by the federal agencies. (USA Government, n.d.)Grants offered by the pharmaceutical companies; to conduct clinical research is one of the common ways of sourcing for money to carry out research activities for clinics. (Canadian Business Network, n.d) Pharmaceutical companies are private entities which may not be put under tight regulations as compared to public institutions. (Federal Grants, n.d)The financing pharmaceutical company may fund a research project they deem to be in line with what they find necessary for them. (D.o.J., 1998)

Advantages of using government grants to fund research projects

Government or federal grants are a good way of sourcing for funds; even though the central government may impose very strict measures to go about using the cash. (Cornell University, n.d.) Once a government agency has given the nod for one to conduct the research alongside the funds allocation; a research organization is left to conduct its affairs in the required time they find ample. (UCONN, n.d.) Pharmaceutical companies may impose timelines so that they launch their products for commercial gains. (The Arc, n.d.)Pharmaceutical companies may continue funding a project based on interests to be fulfilled; some may be under pressure to churn out products that cause a buzz within markets. (Grant Space, n.d.)Another risk involved with pharmaceuticals funding projects would be purely to spite their competitors and caress enormous egos of company executives and owners. (TGCI, n.d.) Government does not engage in competition; but their mandate is to look out for the welfare of their citizens. (The White House, n.d.)It’s with the above stated reasons that governmental funding looks more appealing as compared to funding from private entities. (Homeland Security, n.d.)There would not be conflicts or interests as well as undue pressure. (FELDESMAN+TUCKER+LEIFER+FIDELL, n.d.)

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References

NCSL. (2014). NCSL. Retrieved from http://www.ncsl.org/research/health/american-health-benefit-exchanges.aspxU.S. Congress. (2006, October). Research and Development in the Pharmaceutical Industry. Retrieved from http://cbo.gov/sites/…/10-02-drugr-d.pdfCanadian Business Network. (n.d.). Canadian Business Network. Retrieved from http://www.canadabusiness.ca/eng/page/2740/National Institute of Standards and Technology (NIST), United States Department of Commerce (DoC). (2014, February 25). ANNOUNCEMENT OF FEDERAL FUNDING OPPORTUNITY (FFO) Measurement Science and Engineering (MSE) Research Grant Programs. Retrieved from www.nist.gov/…/grants/USA Government. (n.d.). Benefits, Grants, and Loans. Retrieved from http://www.usa.gov/Citizen/Topics/Benefits.shtmlFederal Grants. (n.d.). Federal Grants. Retrieved from http://www.federalgrants.com/D.o.J. (1998, September). The United States Department of Justice. Retrieved from http://www.justice.gov/crt/grants_statutes/legalman.phpCornell University. (n.d.). Cornell University. Retrieved from http://www.irb.cornell.edu/faq/UCONN. (n.d.). University of Connecticut. Retrieved from http://research.uconn.edu/The Arc. (n.d.). Public Policy. Retrieved from http://www.thearc.org/what-we-do/public-policy/know-your-rights/federal-lawsGrant Space. (n.d.). Knowledge Base. Retrieved from http://grantspace.org/tools/knowledge-base/Funding-Resources/Government-Funders/government-grantsTGCI. (n.d.). Thw Grantsmanship Center. Retrieved from http://www.tgci.com/training/competing-federal-grants-5-dayThe White House. (n.d.). Office of Mnagement and Budget. Retrieved from http://www.whitehouse.gov/omb/grants_defaultHomeland Security. (n.d.). Title VI Overview for Recipients of DHS Financial Assistance. Retrieved from http://www.dhs.gov/title-vi-overview-recipients-dhs-financial-assistanceFELDESMAN+TUCKER+LEIFER+FIDELL. (n.d.). Federal Grants. Retrieved from http://www.feldesmantucker.com/federal-grants/

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