Alan Thompson writes about entrepreneurship and business innovation. In the following article he describes the purpose of business reports. He also lays out six steps to follow in creating a business report.
“A business report conveys information to assist in business decision-making. The business report is the medium in which to present this information. Some reports might present the actual solution to solve a business problem; other reports might record past information that is used toward future business planning. More traditional reports, such as Business Plans, serve to communicate the Business Concept, business management model, commercial objectives, operational procedures and the perceived viability of the enterprise. Many people consider business reports as dry, uninteresting documents which take a great deal of time and effort to prepare. The reality is that they are an essential part of doing business and one’s ability to be proficient in this area is critical to the ability to pursue commercial success.
Although much of the research and analysis that supports the business report is derived from a systematic process, the actual preparation of the report is more reliant on art than on a proven business template. . .
In generating a business report, the following steps should be considered:
- Determine the scope (purpose) of the report,
- Consider the target audience (readers),
- Gather and organise the supporting information (research),
- Analyse, and weigh the supporting information,
- Determine the solution, findings and/or recommendations, and
- Determine the report format.”
Check your understanding:
- I want to find the purpose of business reports… there are 3… what are they?
- What is Thompson’s attitude towards business report writing?
- Which of these words go together:
- a) viability, b) proficient, c) derived, ) template, e) analyse.
1) pattern, 2) study, 3) profitability, 4) competence, 5) practicality, 6) originality, 7) come from
- To solve a problem, to plan for the future, to describe a business idea.
- It’s essential to business success.
- a) viability = 5, b) proficient = 4, c) derived = 7, d) template = 1, e) analyse = 2.
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