Differences between “Formal Research” and “Business Proposals”
There is a great difference between a formal research proposal and a business proposal. In fact these two types of proposals seem to be very similar but there are critical differences in the overall purpose, uses and goals. With such distinct differences for a writer it helps in understanding for writing the formal research proposal or business proposal more effectively. The general purpose of a proposal is the identify a particular need, explain it and recommend how this need can best be met.
Both proposals have different usage in business system. The formal proposals very frequently used by the product developers and financial analysts to figure out if there is a requirement for developing another product by the company, whereas the business proposal generally used to find out the best possible manner for entering the market after the product is developed. Research is basically a systematic investigation and study of sources or materials which is an integral part for drafting any kind of the proposal. This is important to establish the required facts for drafting proposal and develop conclusions. When writing a business proposal, there is a need to conduct a formal research on the market.
In the proposal the overall goals were outlined in the proposals overview section or in the introduction. It is evident that the goals are different in both kinds of the proposals. This is because of the nature of the proposal format like in a formal research proposal which is focused on identifying specific information or data which helps the business in making better decisions whether for market, customer or for the budget. On the other side Business proposals suggest the strategy for new products or services with the ultimate aim and the goal to make money for the business. The approach in the formal research proposals is theoretical and the business proposals mostly have practical approach and... [continues]
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