Globonomics!

Consulting|Technology|International business

RFP’s – what do they mean to the business world?

with one comment

http://en.wikipedia.org/wiki/RFP

First of all, what are RFP’s or RFI’s?

Simply put, an RFP is an acronym for Request for proposal. On the same lines, an RFI is an acronym for “Request for Information”.

This is the modern terminology for the older well known term (at least in India) “tender” – very often used to pitch for contracts in the business world.

Enterprises (SME’s or large enterprises alike) have a lot of requirements that need to be fulfilled – a myriad set of requirements from potential suppliers.

Obviously, RFP’s are extremely confidential to both the enterprise that floats the RFP and to the suppliers who need to respond to it.

An important point one realizes is the strong linkage between the theory taught in a good business school in marketing, financial management and the practical relevance of the same while responding to an RFI – the correlation between the two is high.

The implications of an enterprise floating RFP’s globally to receive responses from global suppliers contributes to a great integration in world trade – geography is no longer a limitation as long as a supplier can prove its worth as an efficient service provider offering maximum value.

I broach this topic in this blog as this is the way the world is doing business today (the topic would fall under the broad spectrum of International trade).

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Written by Naveen Athresh

November 12, 2006 at 1:04 pm

One Response

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  1. You can find lots of RFPs at the RFP Database organized by categories.

    David

    June 3, 2008 at 8:56 pm


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