What is business report and its types
References MBA Knowledge Base: Different types of reports used in business About the Author Nicky is a business writer with nearly two decades of hands-on and publishing experience. Interpretative Report An interpretative report is not only contains the facts, views and opinions of reporters and others but also includes the causes for an issue or an event and required remedial action with recommendations.
Both the data gathering and the summary of the topic generate length. Sometimes, there may be a rivalry between the two group of workers.
What is business report and its types
Such types of business reports are briefly explained. An analytical report will present relevant data with explanations and even conclude the status quo. Now, the management wants to know the real reason for machine break down and group clash between the workers. Businesses will use several types of reports to communicate the overall health and status of a business. If toxic waste was dumped there, it would harm the animals, rivers, and plant life nearby. Using the previous example of the waste disposal site, citizens in the area would be indirect stakeholders. The management is not in a position to take a decision without knowing the performance. The indirect stakeholders are those that are not impacted until a later time. This type of report contains mere statement of facts in detail without any opinion or recommendation of the reporter. Fact Finding Report A machine may be breakdown in the factory premises. References MBA Knowledge Base: Different types of reports used in business About the Author Nicky is a business writer with nearly two decades of hands-on and publishing experience. Sometimes, there may be a rivalry between the two group of workers. Some say the wording and phrasing changes between informal reports and formal reports from more conversational to more formal. The formal reports are classified into two types.
These statutory reports require highly specific information to ensure a company is following regulatory guidelines and reporting the financials that are required by law.
Hence, a reporter is asked to prepare the performance report for anyone of the reasons mentioned above. You might also want an informational report detailing the company expenditures broken down into different departments and covering different time frames. Finally, the remote stakeholders are not affected until far into the future.
It may start at ten pages and in some cases exceed one hundred pages. They are typically required when a company is contemplating venturing into new territories, such as offering a new product or going into a new geographical area.
Other Report Options Formal and informal business reports are used to share news internally and externally. In such cases, the leadership needs an analysis of the company's situation. Research Reports Research reports are the most comprehensive types of reports. Accountability is the theme of any annual report, because businesses seek profitability and growth.
Characteristics of business report
This report shows the sales and final profitability or loss against the annual goals, painting a clear picture of performance across the entire year. Further, when writing the report, you need to consider the audience you are writing for: is it the CEO or will the report be available to all staff concerned? Business reports are typically assigned to enable you to: Examine available and potential solutions to a problem, situation, or issue. Examples for special report are opening of branch, introducing a new product, Improving the quality or changing the shape or size of the product and the like. In such cases, the leadership needs an analysis of the company's situation. According to Paul Anderson, the author of Technical Communication: A Reader-Centered Approach, there are three types of stakeholders  : Direct Indirect Remote The direct stakeholders are those initially impacted by what you write. Research Reports Research reports are the most comprehensive types of reports. An analytical report will present relevant data with explanations and even conclude the status quo. The report might look at three properties with respect to road traffic, cost of the land, and adjoining stores, and then recommend the best site from the alternatives. Informative Report An informative report is prepared and presented with the help of available information at the maximum with regard to an issue or situation. Such type of report is called Problem Solving Report. However, disposal companies that might use this waste site in the future are also considered direct stakeholders because they will be in the same situation as the current company. Site visit reports, training feedback reports and the quick update you write to a department head all fall under the category of informational report.
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