Business reports are written communication of factual information. Explain the following business report concepts:
i. Request for proposal
ii. Project progress report
iii. Performance appraisal report
iv. Feasibility report
v. Chairman’s annual report

Answer:
i. Request for Proposal (RFP): A document issued by an organization seeking proposals from potential vendors or contractors to provide specific goods or services. It outlines the project requirements and invites bids for evaluation.

ii. Project Progress Report: A report that provides updates on the current status of a project, including progress made, milestones achieved, challenges faced, and next steps. It ensures stakeholders are informed about the project’s ongoing performance.

iii. Performance Appraisal Report: A formal report evaluating an employee’s job performance over a specific period. It typically includes feedback on strengths, areas for improvement, and recommendations for promotions, raises, or additional training.

iv. Feasibility Report: A document that analyzes the practicality of a proposed project or business initiative. It assesses factors such as financial viability, market demand, technical feasibility, and legal considerations to determine if the project is worth pursuing.

v. Chairman’s Annual Report: A comprehensive report prepared by the chairman of a company, summarizing the company’s performance over the past year. It typically includes financial results, key accomplishments, future outlook, and strategic direction for stakeholders such as shareholders.

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