Making Daily Business Report
What is a business report? Business reports are defined as a type of assignment in which you carefully analyze a certain situation and in the process, begin applying a variety of business theories to produce different suggestions that may ultimately lead to improvement in the near future.
In general, writing business reports enable you to
- examine available and potential solutions to a problem, situation, or issue;
- apply business and management theory to a practical situation;
- demonstrate your analytical, reasoning, and evaluation skills in identifying and weighing up possible solutions and outcomes;
- reach conclusions about a problem or issue;
- provide recommendations for future action; and
- show concise and clear communication skills. You may also see status report examples.
Keep in mind that there is no right or wrong in preparing a business report. In fact, it is all a matter of trial and error as there is no possible way to tell whether the suggestions being placed on the fray has a chance of being accepted or rejected totally altogether. Furthermore, it is of utmost importance to consider the audience you are writing for: is it the CEO or will the simple report be available to all staff concerned? Please make sure that it has the correct and essential amount of formality, sensitivity, fairness, and objectivity.
What Is a Formal Business Report
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Drafting a Business Report
Here are some steps that you would need to follow when writing a business report:
Deciding What Type of Report to Write
1. Present an idea.
A certain kind of business report that allows a presentation of a specific idea is normally called a justification/recommendation report. Recommendation reports are usually prepared especially when the staff concerned has a few suggestions that they would like to present to the management that they think can greatly benefit their productivity levels in the near future. You may also see investigation report samples and examples.
Typically, a justification would contain a summary and body in which the summary highlights any requests made whatsoever. The report’s body delves into the benefits, costs, risks, etc., associated with your request.
- For example, you would ask the manager to use this new and up-to-date P.O.S. system instead of the ones that have been around since the restaurant first opened. Try your best to indicate on why it is needed and how it can be used to improve the business at stake. You may also like employee report examples & samples.
2. Present risks involved with a specific opportunity.
Please understand that every action you do in life contains risks and dangers, and sometimes even rewards if you get lucky. Treasure hunters, for instance, will man up and go the distance, even encroach on death’s door itself to recover ancient artifacts that might be worth millions of dollars on the market. You may also see examples of short report.
For businesses, they make investigative reports that help determine the various risks that are going to be involved with a specific course of action. Investigative reports work great for helping a company anticipate repercussions. The content of the investigative report would normally contain an introduction, body, and conclusion.
The introduction simply highlights the problem under investigation while the body consists of a discussion of the facts and results of the investigation with the conclusion summarize the entire report.
- For instance, Microsoft wishes to partner up with a certain virtual reality (VR) company so that PC gamers can enjoy the immersive experience that the game has to offer. They discovered, however, that the VR company is running low on funds nearing total bankruptcy. As a result, Microsoft now has the responsibility conducting an investigation by writing a report as to discuss in-depth financial information on the VR company and its directors.
3. Present compliance information to a governing body.
There is no such thing as a ghost company or institution. In the island of Boracay, which is located at the northern part of the Philippines, the government discovered that there were several businesses that were not complying with the requirements that were given by the government. You may also see research report examples.
Other than the proper filing of taxes aside, there are other legal requirements that businesses will have to abide if they wish to keep it open (e.g., environmental certificate, etc.). Normally, a government official can just help you out as you fulfill your requirements in setting up a business. This kind of report is also known as a compliance report, in which companies must be held accountable and responsible. You may also like project report examples & samples.
All companies are required to have compliance reports that show proof to a governing body (city, state, federal government, etc.) that it is following all applicable laws/rules and that it is utilizing their money and resources properly. Just like the basic format of a report, it contains an introduction, body, and conclusion. You may also check out technical report examples & samples.
The introduction includes an overview of the report’s major sections while the body of the compliance reports outlines the specific data, facts, etc., that the regulatory entity needs to know and finally, the conclusion is used to summarize.
4. Present the feasibility of an idea or proposed project.
For instance, let us say that an underground subway is under the proposition stage that wherein it might get the chance to actually push through if a thorough study has already been undertaken by the private party with the assistance and cooperation of the public sector. You may also see medical report examples & samples.
What is normally submitted is called a feasibility report wherein it is a simple exploratory report that helps distinguish as to whether this or that idea will work for their benefit and the public’s benefit. As always, reports like this should contain a summary and body in which the summary presents the idea while the body of the general report will cover the benefits, potential problems, associated costs, etc., of the proposed idea.
A company might use a feasibility report to explore questions such as these:
- Can this project be completed within its budget?
- Will the project be profitable?
- Can this project be completed within the allotted time frame?
5. Present research found in a study.
Now that the proposal stage is made, it is high time to present specific studies. Just like writing an undergraduate thesis, a research study report presents certain research on a specific issue or problem. This kind of report is an in-depth look at a very specific issue and must contain not just the abstract (summary) and the introduction, but also the methods, results, conclusion, and recommendation. You may also see financial report examples.
And because nothing can really be considered an original idea anymore, it is important to cite the other studies that you find useful to you as well.
- Going back to the underground subway proposal, your study has to identify other countries or states that have successfully adapted the underground subway and see whether it will work for your area as well given the fact that there are several variables to consider. Do you think that this can solve the problem of mass transportation and pollution in the province? What are some of the downsides and ups of this project moving forward? You may also like service report examples.
6. Help a company improve its policies, products, or processes via consistent monitoring.
Not all businesses are meant to be perfect. You have to understand that a business constantly improves over time. Even if you have reached the very top already, you have to be open to criticisms and suggestions as it is the only way you can let the business stay afloat. You may also check out management report examples.
One perfect example of this is Gordon Ramsay’s hit new TV show, 24 Hours to Hell and Back. But instead of writing the report down, he secretly surveys the restaurant both internally and externally and figure out then and there on what the issues are and how it can be resolved. You might be interested in quality report examples.
For businesses, this is called a periodic report, wherein it is written at fixed intervals, such as weekly, monthly, quarterly, etc. Periodic reports examine efficiency, profit and loss, or any other metric over the chosen interval. You may also see marketing report examples.
- For instance, restaurant managers list down the weekly sales of the establishment and how much of each featured dish was sold.
7. Report on a specific situation.
Unlike a fixed interval, there are some cases that only a situational report is written only in cases of a certain situation at hand. The situation can be as simple as the information provided at a conference or as complex as a report on the response to a natural disaster. These reports contain an introduction, body, and conclusion. You may also see sales report example & samples.
Use the introduction to identify the event and briefly preview what you cover in the body of the report. The conclusion discusses the undertaken or necessary actions for the situation.
- One example would be on the status of Haiti after the earthquake left them devastated and destroyed. Normally, a damage report would be written.
8. Present several solutions for a problem or situation.
A yardstick report weighs several potential solutions for a given situation. Based on the results, the writer would recommend a particular course of action. A yardstick report should contain an introduction, body, and conclusion. The introduction states the report’s purpose. The body presents the situation or problem followed by potential solutions/alternatives. The conclusion reveals the best solution or alternative. You may also like monthly report examples & samples.
- For instance, ABC Auto Manufacturing, Inc., wants to open a plant in Asia. The report might narrow down three country options based on the company’s needs. The report would then conclude which of the three countries is the best location for the new plant. You may also check out book report examples & samples.
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Writing a Business Report
1. Determine your objective and format.
Now that you know the different types of business reports, you now have the responsibility to identify on what kind of report needs to be written and determine the certain objective the chosen report would like to fulfill. Do not be too bothered by the format as it is non-permanent. You may also see how to write a short report.
- Regardless of the answer, you need to make your objective concise. If it is muddled, then your report will only confuse your audience, which risks damaging the report’s credibility.
2. Identify your audience.
When giving out a simple speech, who do you see? Some see them as just friends who work in the same company together. Some see them as respected colleagues and esteemed guests from different departments. While there are some that see them as total strangers. So it boils down to the biggest question: who are you really talking to? When writing the business report, try to consider what they know and what they do not know.
And if you are aware that they know little to nothing of the topic you are about to submit to them, please do your utmost best to explain it to them in layman’s terms to comprehend a little bit easier. Remember that regardless of your audience, no bottom line speaks louder than money to a company or client. You may also like consulting report examples.
3. Identify what you need to learn.
The hardest part of writing a business report isn’t in the writing. It’s forming a conclusion and collecting the data necessary to support that conclusion. This involves a variety of skills, including data collection and market analysis. What do you—and, in the end, management—need to know to make an informed decision about the topic?
4. Collect the appropriate data for your report.
Just like writing a thesis, you need to gather data. Regardless of what kind of data you decide to collect, data is considered the heart and soul of every report or thesis. Without data, you are simply seen as someone who likes to blabber without any substantial backing whatsoever. You may also check out trip report examples.
- Data may come internally, which means you’ll be able to collect it quite quickly. Sales figures, for example, should be available from the sales department with a phone call, meaning you can receive your data and plug it into your report quickly. You might be interested in police report examples.
- External data may also be available internally. If a department already performs customer analysis data collection, borrow that department’s. You don’t need to conduct the research on your own. This will be different for every type of business, but the writer of a business report often doesn’t need to conduct firsthand research. You may also see financial report examples.
5. Organize and write the report.
Now that the report is already underway, now it is high time to start figuring out on how to organize and write the said report that you are assigned to do.
- One step would be to break up all important and relevant data into separate sections. Your business report should not look like a big pile of mess with random data here and there. Without organization and cohesiveness, everyone who reads it will just simply be confused. Remember that one key to the success of a well-written business report is organizing the data into separate sections. You may also see project report examples & samples.
- Organize the report into appropriate section headers, which may be read through quickly as standalone research, but also supporting the basic objective of the report together.
6. Draw conclusions with specific recommendations.
After writing down the findings from the data gathering process, you often then proceed to come up with conclusions that comes along with various recommendations.
- Any goals should include specific, measurable actions. Write out any changes in job descriptions, schedules, or expenses necessary to implement the new plan. Each general statement should directly indicate how the new method will help to meet the goal/solution set forth in the report.
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7. Write the executive summary.
The executive summary should be the very first page of the common report, but it should be the last thing that you write. The executive summary should present your findings and conclusions and give a very brief overview of what someone would read, should they choose to continue reading the entire report.
- The executive summary gets its name because it’s likely the only thing a busy executive would read. This should only be written in just 200 to 300 words just enough to get the executive interested in the report you submitted. After all, this section is normally the make or break moment for the businessmen writing the report to get the higher ups interested.
8. Use infographics for applicable data, if necessary.
Infographics are useful in order to make the data presentable to the readers of the report. No one really likes to read the paper if it is all in paragraphs. Another thing is that it is tedious to actually read it. Especially when the data is very long. If it is at all possible, you can always ask for assistance from graphic designers who can help you present the data with a little finesse. You may also see visit report examples & samples.
- Generally speaking, visual figures are a great idea for business reports because the writing and the data itself can be a little dry. Don’t go overboard though. All infographics should be relevant and necessary.
9. Cite your sources, if necessary.
When writing a thesis, it is absolutely necessary to cite sources. After all, you are not the first to conduct this kind of study before. Keep in mind that there were others before you and that there are others who will come after you. If you do not cite your sources properly, you will be accused of intellectual property (IP) theft or simply known as plagiarism. You may also like audit report examples & samples.
- Use the appropriate formatting for the citations in your report, based on your industry.
10. Proofread your report twice.
Mistakes happen from time to time. Even the best of us can get careless at times or even overlook at a specific error that has been in front of us this whole time. When you type your business report, make sure to write it in a word-processing software that has a grammar check feature so that you will not easily get mistaken. But keep in mind that you actually need to have sufficient background in the language itself. You may also check out expense report examples & samples.
- For example, don’t overuse fancy words or make your sentences too wordy.
- Avoid using slang.
- If your report and audience are both closely tied to a specific industry, it’s appropriate to use jargon or technical terms. But you have to take care to not overuse jargon and technical terms.
- Generally, business writing is written in the passive voice, and this is one of the few instances where passive writing is usually better than active active writing. You might be interested in sales report examples & samples.
11. Create a table of contents.
Format the business report as formally as possible, creating a table of contents to make it easy to reference and flip through your formal report. Include all relevant sections, especially the executive summary and conclusions.
12. Package your business report.
The best complement to a thorough, well-researched report is polished packaging. This may include nice folders, binders, or paper. The bottom line is that your business report needs to look sharp to intrigue your audience enough to read it. This applies to any graphs or charts included in the basic report as well.
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