class 5: Proposals, business plans, and formal business reports

Question 1

informal proposals format (in order)

Answer 1

intro

background, problem, purpose

proposal, plan, schedule

staffing

budget

authorization

Question 2

what is a proposal, what is the purposes

Answer 2

solve problems

provide services

sell products

can be solicited or unsolicited

can generate millions of dollars in income

Question 3

solicited proposals

they want the proposal

Answer 3

persuade reader to understand problem completely

“give me proposal”

Question 4

unsolicited proposals

they don’t really want it to being with

Answer 4

convince reader that problem exists

harder cause has to be like a pitch

Question 5

intro + background, problem and purpose of the proposal

what should you write in this part?

Answer 5

explain why proposal is being made

identify problem or key issue

discuss goals

suggest speedy results, low costs, or remarkable resources

basically, its the purpose of the project

promise solution or benefit

Question 6

proposal, plan, and schedule of proposal

Answer 6

discuss plan for solving problem

explain proposition and benefits to reader

specify how project will be managed

show how progress will be monitored

include schedule of activities

Question 7

staffing/ human capital in proposal

Answer 7

describe credential and expertise of project managers (can include resumes)

identify size and qualifications of support staff * other resources

Question 8

budget in proposal

Answer 8

list project costs

prepare this section carefully as it includes contracts

protect yourself from rising costs with deadline for acceptance

no room for error

Question 9

authorization request in proposal

Answer 9

close with request of approval or authorization

remind key benefits and motivate action

include deadline (after it passes it, it is invalid)

include model contract that responds to the request for proposal (RFP)

Question 10

components of formal proposals (in order)

Answer 10

copy of request of proposal (RFP) included in front matter

letter of transmital

abstract or executive summary

title page

table of contents

list of illustrations

intro

background, problem, purpose

proposal, plan, schedule

staffing

budget

authorization

appendix

basically, it is way longer than informal proposals

Question 11

letter of transmittal

Answer 11

addresses the decision maker

presents major features and benefits

Question 12

abstract

Answer 12

technical summary of proposal highlights

Question 13

executive summary

Answer 13

business summary of proposal

Question 14

since a formal proposal is much longer, what must be included to guide reader and ensure clarity

basically, all the extra shit you added

Answer 14

title page

table of contents

list of illustrations: includes each figure table and page number

appendix(es): additional material of interest

summary has to be gyu to grab attention

Question 15

what are grant proposals

Answer 15

money received for your business with no need to repay

submitted to government or civilian organizations

explain project

outline the budget

Question 16

abstract/needs statement of a grant proposal

Answer 16

explain problem or situation grant proposes to address

Question 17

body of grant proposal

what does it do

Answer 17

explains significance of problem

explains how funding will solve problem

short and long term goals (must be S.M.A.R.T.)

detailed action `plan

budget

plan to measure progress

Question 18

what is a business plan

Answer 18

describes how you intend to achieve marketing, financial, and operational goals

critical for securing financial support of any kind

Question 19

components of business plan

Answer 19

letter of trasnimattal

mission statement

table of contents

company description (form of business)

product or service description

market analysis

operations and management

financial analysis

appendices

executive summary (written last)

Question 20

letter of transmittal of business plan

Answer 20

explains reasons for writing

provides contact info

describes business idea concisely with benefits to investor

includes summary of market

brief note of competitors

reasons why plan is worthy

Question 21

mission statement of business plan

Answer 21

explains purpose of business and why it will succeed

Question 22

executive summary of business plan

Answer 22

written last

highlights main points of business plan

Question 23

product and service description in business plan

what do you have to convince to investors

Answer 23

explain what you are providing and how it will benefit the customers

explain why is it better than competitors

explain why it will be profitable

Question 24

market analysis in business plan

Answer 24

discuss market characteristics, trends, and projected growth

identify target market: how will you attract and keep customers

competitor analysis: strength and weaknesses

Question 25

operations and management in business plan

Answer 25

explain how business will be run location, equipment, personnel, and management highlight and well trained staff and advisors (if you have any)

Question 26

financial analysis in business plan

Answer 26

realistic start up budget present operating budget for costs explain how much money you have explain how much money you need tp stay in business

Question 27

what is a formal business report

Answer 27

document that: analyses findings draws conclusions ***recommendations to solve a problem*** similar to formal proposal in length, organization and tone

Question 28

what should the front matter of a formal business report contain

Answer 28

cover (made or venial or heavy paper to protect and professional) title page letter or memo of transmittal table of contents list of illustrations intro

Question 29

letter or memo transmittal of formal business report what is included in it

Answer 29

announces topic + who authorized report briefly describes project highlights recommendations closes with appreciation for assignment suggesting follow up actions

Question 30

list of illustrations in formal business report

Answer 30

includes list of tables, illustrations or figures proivde separate lists of tables and figures place lists on same page as contents if possible

Question 31

tips to write executive summary in business report

Answer 31

outline with headings follow report sequence beginning with purpose vag on non essential details ideally is one page but control length

Question 32

intro of formal business report

Answer 32

describe problem's background and significance describe data sources methods and key terms close by previewing report organization

Question 33

body of formal business report

Answer 33

discusses, analyzes and ***evaluates research findings or proposed solution*** arranges findings in logical segments clear, descriptive headings that explain each major section

Question 34

appendix(es) of formal business report

Answer 34

supporting survey forms, copies of other reports, tables of data, large graphs

Question 35

tips for formal business report to be gyu what should you avoid

Answer 35

avoid I and We

Question 36

can a proposal be solicited or unsolicited

Answer 36

yeee boyyy

Question 37

how to protect yourself from rising costs in a proposal

Answer 37

with implementing deadlines boyyy

Question 38

is there room for error in the budget side of proposal

Answer 38

nah mate

Question 39

to whom grants are often made

Answer 39

are often made to charities, educational facilities and non-profit organizations

Question 40

with what can a business plan be written

Answer 40

can be written using software such as Business Plan Pro or business app such as Enloop

Question 41

in the business plan, should you use the direct or indirect approach formal or informal approach

Answer 41

direct and formal clear and concise

Question 42

in the business plan, is it important to under promise and over deliver

Answer 42

ye boooy but remember than execution is the most important without execution, its just money to the garbage

Question 43

in the executive summary of a report, is it important for it to follow its sequence how long should it be

Answer 43

yeeee boyyyy one page max

Question 44

how many time should you proofread and revise

Answer 44

three times