A proposal to start an employee wellness program in the workplace must convince management that the idea is a good one that will have a positive financial impact. Wellness programs provide information and incentives to improve employee health and reduce behaviors that affect work performance.
How to Write a Business Justification by Mackenzie Maxwell - Updated November 21, Any time a business goes through major changes, a business justification can help the leaders set the appropriate course of action.
You may need this document, which is also called a business case, if you are just starting a business, expanding into new territory or changing your company structure.
Furthermore, you will often need these any time your business applies for funding from investors or lenders. To make this document as useful as possible, make sure to learn to write it correctly.
It can be a global problem, like companies that create alternative energy or make allergen-free foods. However, solving local or relatively small problems can be just as convincing for this purpose.
For example, a rural grocery store may realize that the community has no coffee shop. If such a store wanted to get a loan to install a cafe in the store, the leaders may say that they will solve this issue in the town.
Depending on what you will use your business case for and how obvious the issue is, the length of this section will vary. If you need this document for your own decision-making process and the need you solve is exceedingly obvious, you may just start with a paragraph on the need you fill.
However, if you need plenty of funding or the issue is complicated, you should consider adding research and charts. List the Alternatives Once you have convinced the reader that there's a problem to solve, you can show that you have considered all the possible ways of solving it.
In some business justifications, it's appropriate to show that you are open to the options on this list. Consider a local restaurant with owners who want to expand into a franchise. They may list alternative locations throughout the surrounding cities.
To help shareholders, lenders or themselves make the decision, the writer may also list advantages, problems, research and notes on each possible new site. Video of the Day Brought to you by Techwalla Brought to you by Techwalla List the Positive Possible Outcomes In the next section of the business case, identify as many advantages to your plan as you can.
These positives should include any monetary gain or savings. However, you do not have to limit yourself to the numbers. Think about a business that wants to expand their marketing strategy. The first advantage may be increased brand awareness.
The writer may then also include an estimate of increased revenue from new customers. If you can find facts or conduct research to back up your claims, these can be helpful. However, you do not usually need to spend more than a paragraph on each positive outcome.
Be as specific as you can in those three or four sentences.
Weigh the Risks No business decision is completely without risk. As uncomfortable as it can be to consider the possible downsides of expanding or starting a company, it's important to give this portion of the case as much attention as the advantages. Like in the previous section, these points can be qualitative or quantitative.
Some of the risks may be unavoidable. For example, if you decide to expand into one town, you may have an opportunity cost for not investing in the alternatives.
For the investor, a business plan is basically a proposal that explains the viability of a business. If you need money, you will need a business plan. Write a description of the business. How to Write an Investor Proposal Letter. Investment proposal letters are less formal than some business plans and similar documents. In some ways, an investment proposal is an abbreviated form of a business plan, wherein you can provide. May 14, · To write a business proposal, start by asking what the client's needs and concerns are so you can address them in your proposal. Once you've got a good sense of how you can help the client, start formatting your proposal so it includes a title page with your name, company name, the person you're submitting the proposal to, 83%().
If you find a risk that is completely avoidable while you solve the problem, the justification has done part of its job.How to Write an Investor Proposal Letter.
Investment proposal letters are less formal than some business plans and similar documents. In some ways, an investment proposal is an abbreviated form of a business plan, wherein you can provide.
Write a business plan that’s right for your business. As tempting as it is, don’t just cut and paste from a sample plan. Any banker or investor will be able to tell from miles away that you copied someone else’s plan. A business justification is produced by an internal team of specialized analysts who determine what's needed to enact the proposal.
They are tasked with getting permissions, finding supporters, researching relevant publications and finding an audience for the proposal to ensure its success. A proposal is simply a convincing argument in support of an idea. A proposal to start an employee wellness program in the workplace must convince management that the idea is a good one that will have a positive financial impact.
Bplans offers free business plan samples and templates, business planning resources, How-to articles, financial calculators, industry reports and entrepreneurship webinars.
discipline, time and privacy to write an effective business plan. You will save time by compiling your list of supporting documents while writing the text. For example, while writing about the legal structure of your business, you will realize the need to include a copy of your partnership agreement.
Write partnership agreement on your list of.