Here is the difference between a feasibility study report and a business plan? Can a feasibility study report be converted to a business plan? Find out. In the course of the article, we will be highlighting the major differences between business plan, business proposal and feasibility study. A business plan, business proposal and a feasibility study are all analysis and tools utilised for decision making by organizations. In as much as the 3 tools can be utilised alongside one another in decision making processes, they have their differences and they seem to target and tackle different processes.
The Difference between a Business Plan and a Business Proposal
Academia Stack Exchange is a question and answer site for academics and those enrolled in higher education. It only takes a minute to sign up. Connect and share knowledge within a single location that is structured and easy to search. Online sources often use " research plan " and " research proposal " interchangeably. Two months after getting accepted into a PhD program, I was asked to do a research plan. Is this the same as doing a research proposal?
Difference Between a Business Plan & a Business Proposal
A business plan and a business proposal are two distinct documents. Most people mistake them for each other, and a lot of articles on the internet that teach how to write a business proposal are actually just explaining how to write a business plan. These two documents are very different with each serving distinct purposes. So it is important you know whether what you need is a business plan or a business proposal at any time.
Few people can produce a ready answer to that question. After all, both business plans and business cases make predictions about future outcomes, but there is a big difference between the two. They explain how the business will achieve its operational and financial goals by capitalising on the capability of the organisation. Business plans may be written to explain how a business may meet its growth targets over one or more years. Business cases comprise an argument to convince a decision maker to approve a specific course of action over another.