What Is a Business Report: Expert Hints
A lot of students ask questions like, “What is a business report” and “Could somebody provide me with business report definition?” If you have never had to write a business report, it might seem a bit confusing at first, but once you familiarize yourself with the process, it will never be an issue. In a nutshell, a business report is a type of document that highlights key measurements of a company and explains how well they are doing. A formal business report is generally official and is often presented to important managers and bosses within the company. It can also be given to potential clients and the broader public. By contrast, an informal business report resembles a memo. Business reports can be provided on an on-going basis, periodic, as required, or even ad hoc.
Regardless of the (BR) business report type or business report format, all of them serve a very important purpose. For instance, if you are giving a presentation to executives that reports on the company’s assets, you can refer to the business report or even distribute copies to the others who are attending the meeting. Because you want to make a good impression, it is important that the business report be well-written and free of grammar and spelling mistakes. It should also be easy for the reader to understand and only contain the facts.
A business report presents facts and figures that highlight a particular facet of an organization. It serves as a snapshot, providing a report that covers a certain period. For instance, an annual report will obviously provide a snapshot of the business for a particular year whereas a quarterly report focuses on a 3 month period.
Note that a business report does not always have to be called such. In fact, financial statements, budget overviews, sales projections, income statements and profit/loss statements and balance sheets are also examples of business reports.
Types of Business Reports
The different types of business reports are practically infinite, especially since how you determine what constitutes a business report is entirely up to you. In fact, you can create your own customized report and call it a business report if you would like. But in any case, business reports are typically grouped into four kinds: analytical, legal, explanatory and progress. Naturally, a type of business report could even contain characteristics of all these. For example, if you are writing a progress report, it could simultaneously be categorized as explanatory, even though the main purpose is to inform the company about how the company is performing. Here is a more detailed look at the four different business report types.
- Analytical reports. As the name indicates, this type of report requires you to analyze something related to the organization, and this can come in the form of discussing two alternative proposals and discussing the pros and cons of each. Incorporating charts, graphs, diagrams and tables into the business analysis report is an effective way to get your points across.
- Legal reports. There are times when a company is required to disclose certain things about their operations for legal purposes, such as tax reports and other documents as dictated by various authorities such as government agencies. This is what legal reports achieve. They help the organization avoid potential lawsuits or other legal issues.
- Explanatory reports. These types of business reports involve explaining a situation or topic so that everybody to have a better understanding about it. For instance, if your goal is to explain research that you have conducted, you would do this in the form of an explanatory report. After all, just showing charts, graphs and tables will not be enough since you will otherwise be asked questions such as the purpose and relevance of your research, the methods you chose and the sample sizes. Thus, your explanatory report would highlight such things as your reasoning for undertaking the research and how you conducted it, particularly as it relates to data collection. At this point the audience will understand it better since they will have been provided some clear context, and thus you will be able to bring out the tables and charts in order to explain your results.
- Progress reports. This type of business report provides details on the status of the organization at the moment. They do not contain a huge amount of information; they serve as an update. Examples of business report writing include things like income statements that provide a glimpse of how the company is performing during a certain period of time.
Business Report Example for Students
If you search around online, you should not have any difficulty finding a business report example for students. This is true whether you need a formal business report example, a business report sample that covers legal issues, an analytical business report example, or a business report template. While the sample might not mirror your actual assignment exactly, it will nonetheless provide you with some guidelines that might be useful as you write your report.
Here are some useful suggestions that will make your sample business report effective. First, keep in mind that they do not follow a universal format. As a result, you should consult your instructor to discuss their preferences. However, there are certain strategies that you should always follow:
- Keep the business report brief and to the point.
- Understand the audience and recognize how to address them. This is important because the information that an executive is looking for will be different from what a prospective client wants.
- The business report title page or business report cover page should contain a title that makes its purpose clear.
- The recommendations made within a business report must be placed in the conclusions section of the document
- In a business report, recommendations should be realistic and based on facts
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