Business reports is an effective way to communicate business performance, and emerging trends in today’s business world. Though, the objectives of business report are comprehensive in scope, the individuals or business can use it to improve the performance or initiate new ideas. In order to write an effective business report, understand what it is, how to write and when it can be used.
Formal business reports help executives and managers make well-informed decision. These reports serve various purposes depending on industry and business need. This task is assigned to business school students at higher level so that they can develop the art of creating it at professional level.
Table of Contents
What actually is a formal business report?
It is official document which includes the information, research, data and other essential details to help decision makers form company’s objectives and plan. Considering the topic, a formal business report may vary in length include extensive information and data. The few common types of formal business reports are;
- Recommendation Report
- Investigative Report
- Compliance Report
- Feasibility Report
- Research Report
- Periodic Report
- Situational Report
- Yardstick Report
Step 1: Firstly, Decide What Type of Report to Write
-
Recommendation Report
Presenting a unique idea. A justification/recommendation report is the one that presents an idea. This report can be utilized to make proposals to the executives or other significant decision makers. It comprises of a summary and body paragraphs. The summary features your solicitation and the body digs into the advantages, costs, chances, and so on, related with the solicitation.
- For instance, you need a 3D printer for your division. To persuade your administrator to demand one, you would compose a legitimization/suggestion report to officially approach the supervisory crew for the printer.
Investigative Report
Presenting dangers/risk which are involved with a particular chance. An investigative report decides the risk or dangers linked with a specific strategy. This kind of report is extraordinary to help an organization predict repercussions. It will contain an introduction, body and a conclusion. The presentation states the issue under scrutiny. The body is used to discuss about current realities and aftereffects of the examination. The conclusion is used to sum up.
- As an example; a pharmaceutical company Y tends to partner with pharmaceutical company X but has few concerns. Company Y doesn’t have any desire to cooperate with an organization that has current money related issues or has had budgetary issues before. Company Y conducts an examination and utilizations an analytical report to talk about top to bottom monetary data on company X and its directors.
-
Compliance Report
Presenting compliance data to an administrative body. This type of report is known as a compliance report which helps the companies demonstrate accountability. An organization will utilize consistence report to display evidence to a governing body (federal government, state, city etc.) that it is adhering to all material; rules/law and that it is spending all cash appropriately. It contains an introduction, body and conclusion. The presentation regularly incorporates a diagram of the report’s significant segments. The body contains the particular information, realities, and so on, that the administrative entity has to know. The end is utilized to sum up.
- For example, the CALPERS (California Public Employees Retirement System) had to show its governors board that it kept every single relevant law and rules in 2010. It set up a yearly consistence report to demonstrate their exercises for the year.
-
Feasibility Report
Presenting the feasibility of a proposed or thought venture. An exploratory report decides if a thought will work, it is called as an attainability report. It must contain an outline and body. The outline clearly presents the thought and the body covers the advantages, related expenses, expected issues, and so forth, of the proposed thought. Organization can use an attainability report to investigate addresses, for example, these:
- Can this project be finished within its budget?
- Does the project generate profit?
- Will this project be completed within the deadline?
-
Research Report
Presenting research that is found in a study. The report of research studies provides extensive research and in-depth look at a particular problem or issue. The report must contain an abstract, introduction, methods, results, conclusion and recommendation. All the studies involved should also be cited.
For instance, a business may make a company-wide study to consider whether to ban smoking in its employee lounge. This calls for writing a research study report.
-
Periodic Report
Assist a company to improve its products, policies or processes through steady monitoring. This type of report is known as periodic report which is written at fixed intervals (such as weekly, monthly, quarterly time period) etc. It tends to examine profit and loss, efficiency or any other metric over the selected interval.
- For example, a pharmaceutical company representative may give a summary on monthly bases of h/her sales calls.
A report on particular situation. Particular situation in contrast to a fixed interval requires a situational report. The situation can be as intricate as a report on the response to a natural disaster or it can be as simple as the information provided at a seminar or conference. It comprises of an introduction, body and conclusion. The introduction part identifies the event and concisely previews what is covered in the body paragraphs of the report. The conclusion part discusses the necessary or undertaken actions for the problem or situation.
- For instance, the governing body of a state calls for situational report after a flood or hurricane.
-
Yardstick Report
Presenting numerous solutions for a situation or problem. A yardstick report contemplates numerous potential solutions for a given problem or situation. Grounded on the results, the report recommends a specific course of action. It comprises of an introduction, body and conclusion. The introduction part states the report’s purpose. The body part covers the problem or situation followed by potential alternatives/solution and conclusion part discloses the best solution.
- As an example, the XYZ Auto Manufacturing, Inc., tends to open a new plant in America. The report may list down the three country options rooted on the company’s wants and needs. It will then conclude why and which of these countries proves to be an ideal location for the new plant.
Step 2: Writing a Business Report
- Determining the objective and format.One must think what h/she wants the report to accomplish. On the basis of the objectives being desired, one must then select the report’s type.
- The objective is supposed to be concise irrespective of the answer. The report will only make confusions for the audience if it is jumbled. Hence, the credibility could be questioned.
- For example, one of your goals is to get a higher advertisement budget for the department. The report you will make will have to be specifically focused on the recent budget for advertisements and the ways, a larger budget could be utilized effectively.
- Identifying the audience.There could be someone from the outside (a person who doesn’t work in the company) or from within the organization. One has to keep in mind the audience’s familiarity with the topic. Also, there should be a proper analyzing of how the audience will use the information in the report.
- Also, the most important thing to keep in mind is the importance of money for the client or the company as nothing is louder than it.
- For example, there is a job-share program to implement for the division. The target audience includes the HR director of the company, the CEO and COO. Think about the knowledge they would already have about the program. The findings would tell how the report is written. If the company has never had this sort of a program, then the content of the report would be informing as well as strategic. In the opposite situation, the report will have to be informing and persuasive.
- To identify what needs to be learned.The toughest part in business report writing isn’t in the writing. It is creating a conclusion and gathering the data in order to back that conclusion. This requires diverse set of skills, which involves gathering of data and analyzing the market. The important question to answer is that what would eventually, the management want in terms of information in order to get the informed decision about the discussion.
- Collection of the suitable data for the report. It is significant that the data has been researched properly; otherwise, the credibility could be at risk. The collection of data makes a huge impact on the report that would be written. The data parameters’ relevance and conciseness to the point must be ensured.
- There could be some internal data, which could be collected quickly. One example is the figures of sales, which could be accessed from the department of sales through quick communication i.e. either a phone, call or an email. Therefore, the data could be gathered and put in the report immediately.
- External data is also sometimes present internally. If client’s analysis data collection is already being performed by a division, borrow that. There is no need to do the research yourself. The scenario varies as the business type changes; however, there is no need for the writer to do the direct research.
- For instance, if there is a report for the justification or recommendation, then the report must need to incorporate all the advantages of the idea being proposed.
5. Organizing and writing the report.Report organization depends on the objective. For example, a compliance report will be organized differently than a feasibility report. The time you get an idea of how to organize the report, the content can be written as;
- Divide pertinent data into distinct sections. A business report holds ample information and figures that may easily confuse. Efficiently organizing the data into distinct sections is a key to the successful business report. For instance, keep customer analysis and sales data separate, each with its own header.
- Simply organize the business report into proper section headers that can be read as standalone research, but also supports the basic objective of the report together.
- As few sections depend upon others input or analysis, work on sections separately while waiting for the completion of analysis.
- Drawing conclusions with definite suggestions/recommendations.Place clear conclusions which follow logical pattern from the examined data in the report. Suggest the best course of action grounded on to the given conclusions, and if appropriate;
Goals must include measurable and specific actions. Jot down any changes in job schedules descriptions, or expenses essential to execute the new plan. Every statement must directly direct to how the new method will assist in meeting the solution/goal explained in the report.
-
Creating the Executive Summary.
The executive summary is the first page of the report, but something that should be written in the last. It must present the findings and conclusions, also provide a short overview of what the study is all about. It’s like a movie trailer or an abstract in an academic paper.
- The executive summary has got it name as there is higher probability that it is the most common thing the executive would read. Incorporate every element here and in no more than 200-300 words. This let the reader decide if they want to look over the entire report or not.
- Info graphics usage for applicable data.
Often it becomes difficult to include charts or graphs demonstrating quantitative data. Try to use color within the display, as it helps to differentiate the information and draws more attention. Wherever possible, use boxed data or numbers to make it easy with readability. This places the data apart from rest of the report and directs to its significance.
Visual figures are a working idea for business reports as the data and writing itself seems dry. Don’t go overboard, and make sure that the info graphics which are used must be necessary and relevant.
- A page which is filled with text can be tiresome that’s the reason to use boxes on pages with no tables or figures. Boxed information helps summarizing effectively all important points on the page.
-
Cite the Resources in correct format.
Doesn’t matter how brief or long the report is, it calls for an evidence of the research that has been done. For every sources used or information incorporated, cite it in the required style. The bibliography purpose in a business report is to give a resource to the readers to look into it or follow up on the data.
- Check the guidelines for correct formatting for the citations in report.
-
Proofread the report to avoid errors.
Basic grammatical, structural or spelling errors may leave an unwanted impression on the readers. Also, it disturbs the readers reading flow and distracts their attention. These errors can put a question to the credibility of findings. Make sure to present the information in a concise and clear way.
- Never use fancy words to make the sentences too wordy
- Avoid using informal language
- When audience and report both are tied to a particular industry, it’s appropriate to use technical terms, but it requires not to over use jargons or technical terms
- Business writing is generally in passive voice
- Ask someone else to read the content as reading the same thing oneself again may make it difficult to identify errors. Take a break and read with rejuvenated mind. Get open to the feedback and take comments into consideration.
-
Create Table of Contents
Format the business report and then create a table of contents to flip through the report and make it easy to reference. It includes locating relevant sections, particularly the executive summary and conclusions. Consider;
- Begin a new page right after the title page
- List down the document headings in order
- If applicable, then add subheadings
- Write down page numbers for each heading and subheading
- Title the Table of Contents
- Confirm if the headings and page numbers is correctly mentioned and in sequence
- In word, choose the Table of Contents option in go to the Reference tab
Are you at beginner level? Is it difficult for you to understand how it is written and what each type entails? Don’t worry because the professional writers at Assignment Studio are here to assist you with all types of business report writing at any academic level and in any business subject area. They possess subject knowledge and skills which make it easier for them to produce quality work on short notice. After writing, the report is handed for quality assurance check which look for grammatical errors and plagiarism check. So, your online assignment help has it all that assures a promising grade!
