Question

Highlights of this chapter include informal and formal proposals (persuasive offers to solve problems, provide services, or sell equipment) and reports (presents information to decision-makers after investigation and analysis):

Components of Informal Proposals (short 2- 4 pages total):

Introduction- reasons for proposal and writer's qualifications

Background- IDs problem and goals/purposes of project

Proposal- plan for solving the problem

Staffing- credentials/expertise of project leaders

Budget- list of project costs

Authorization request- request for approval or authorization of proposal

Formal Proposals include the above plus the below optional components (and are much longer):

Copy of RFP

Letter or memo of transmittal

Abstract and/or executive summary

Title page

Table of contents

List of figures

Appendix

Components of an Informal Business Report include (outlined in Ch 9):

Introduction

Body

Conclusions

Recommendations

Formal reports would include the above plus the additional items below:

Prefatory (Introductory) Parts

Title page

Letter or memo of transmittal

Table of contents

List of figures

Executive summar

Body of Report

Introduction

Background

Problem or purpose

Significance and scope

Sources and methods

Organization

Discussion of findings

Summary, conclusions, recommendations

Supplementary Parts of a Formal Report

Footnotes or endnotes

Works Cited, References, or Bibliography

Appendix

Watch this excellent video of "How to Write a Business Plan" and answer the following 3 questions:

https://www.youtube.com/watch?v=Fqch5OrUPvA

According to your studies and this Author:

1. What type of communication is this (report or proposal, informal or formal, external or internal)?

2. What are the (9) key elements to successful business plan?

3. What is the most important of these 9 elements?

this is a business question

Answer 1

1. This communication is informal business report, because it includes introduction, body, conclusions , recommendations. The main purpose of this informal report is to present certain informations . There is no opportunity to add personal comment or opinion in such report. This type of report is most frequently uses for reporting in business.

Therefore this communication includes in the informal business report.

2. 9 key elements to successfull business plan are as follows:

1) Define your vision

2) Set your goal and objective for the business

3) Define your unique selling proposition

4) Know your market

5) Know your customer

6) Research the demand for your business

7) Set your marketing goals

8) Define your marketing strategy

9) Take action

3. The most important out of these 9 elements is TAKE ACTION.

Without action all else is waste. This is the most important element for running a business plan. Even if you find that according to the business plan your idea isn't viable , don't give up.

Make your dream and make your business flourish.