What is a research proposal? A research proposal is a document which outlines the process of a proposed research project. It is commonly used in the fields of science, business and academia. The uses of a research proposal include: to apply for the funding or financing of the research project; for authorisation/approval of certain parts […]
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What is a project plan? A project plan, or project management plan, is a formally approved document created by a project manager to execute, manage and control a project. It is an agreement between the project manager, project sponsor, project team and key stakeholders. The project plan and the project charter are the most important […]
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What is a competitor analysis? A competitor analysis investigates the strengths and weaknesses of a company’s industry competitors. Basically, a competitor analysis is doing a SWOT analysis, but for the competition instead of your own company. The purpose of a competitor analysis is to develop a strong marketing strategy. It is an important part of […]
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What is a gap analysis? The definition of a gap analysis, according to BusinessDictionary, is “a technique that businesses use to determine what steps need to be taken in order to move from its current state to its desired, future state.” It measures the difference between the two different states by forcing the company to […]
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What is a SWOT analysis? A SWOT analysis shows the impact internal (strengths and weaknesses) and external (opportunities and threats) positives and negatives can have on a company, industry, product, place or person. The definition of the SWOT analyses of a business is a planning tool used to develop a solid business strategy. It can […]
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What is a business case? The definition of a business case is a decision-making tool that weighs the benefits and costs of starting a business project. It is usually a written document, but can also be stated verbally. The purpose of a business case is to justify the allocation of funds and resources to a […]
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What is a budget? In short, a budget is a financial plan. It is a financial document used by individuals or companies to project future income and expenses. A budget is a vital business tool as it determines the profitability of a company by controlling and monitoring expenses, revenue and cash flow. If the company’s […]
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What is a marketing plan? A marketing plan is a business operational document which describes a company’s marketing objectives and how they will be accomplished within a specific timeframe (usually the next year). A good marketing plan is crucial to the success of a company. A marketing plan can be included as part of the […]
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What is a business proposal? A business proposal is a sales document detailing the offer from a seller to a potential buyer. With the intention to solicit business, a company can present a prospective client with a business proposal offering a particular product or service. For a company to expand in today’s competitive business world […]
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What is a company profile? A company profile (also called a corporate- or business profile) is a professional introduction to a company and contains basic information about the company. It is a marketing tool used to give potential clients, investors and other stakeholders an idea of what the company is about. Think of a company […]
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