What is a Business Report and How to Write it Properly?
July 12, 2017>
Today, a business report is one of the most effective ways to have a conversation in our busy world. Though objectives of business writing are broad in scope, individuals may use them to make a significant decision for their businesses. To compose an efficient report, you have to comprehend its essence and rules of writing.
How to Write a Business Report?
- Express an idea. Those reports that present an idea are called recommendation or justification reports. Mind that it is possible to use them to provide the decision-makers or management with certain suggestions. Typically, the given assignment includes a body and a summary: the body delves into the risks, costs, benefits, and some other aspects associated with your request, and the summary concludes and reviews it briefly.
- For example, you would like to have a 3D printer for your department. In order to convince your manager to buy one, you need to write a justification/recommendation report.
- Demonstrate risks followed by a specific opportunity. Investigative reports help determine risks accompanying a specific course of action. At the same time, they are really good at helping companies or firms foresee outcomes along with business review report Such work includes an introductory paragraph, body, and conclusions: the introductory paragraph highlights the issue under consideration, the body is targeted at discussing the results and facts, and the conclusions are used for summing up everything stated previously.
- For example, the pharmaceutical company N would like to become partners with pharmaceutical company P but has several concerns. Company N does not want to partner with a company that has had financial problems in the past or has them at present. Company N holds an inquest into this direction and uses an investigative paper to discuss financial information on company P and its executive staff.
- Present the compliance information to a governing body. The compliance report helps companies demonstrate their accountability. Usually, companies use the given type of work to furnish proofs to a governing body (federal government, state, city, etc.) that they observe all possible rules/laws and spend money properly.
- Present the feasibility of a proposed project or idea. Exploratory reports to define whether certain ideas will turn out to be effective are called feasibility reports. They should consist of a body and a summary. Companies may use the given piece of writing to explore questions as follows:
- Can this project be finished within the current budget?
- Will this project bring profits?
- Can this project be finished within the given deadline?
- Demonstrate research project. The research project introduces research on a problem or issue. The given position has to cover recommendation and conclusion, results, methods, introductory paragraph, and summary. Also, as all business report writing tips clearly state, it should cite studies used.
- Help companies improve their processes, products, and policies via permanent monitoring. The given project, known as a periodic review, is composed at fixed intervals, such as quarterly, monthly, weekly, etc. It can examine profit and loss, efficiency, or any other metric within the particular interval.
- A situational project is used to describe a specific situation, which can be as simple as facts provided at conferences or as complex as reviews on the response of natural disasters.
- A yardstick report offers several potential ways out for a given situation. Therefore, one needs to find the best solution and use it to solve a problem. The writer should recommend a particular course of action, relying on the results.
After you have chosen a type of paper, it is high time to choose an appropriate topic among a great variety of business report topics for students.
Great Business Report Writing Topics
In case you are MBA or Commerce student, learning how to complete an efficient project can turn out to be of great help in your future professional career. Concise written projects are very important in making effective decisions.
Managers, management executives, CEOs, and senior-level managers do not have enough time to read poorly structured and long papers. Taking it into account, learning to compose a business paper, meeting all norms and standards, forms a vital aspect of successful communication. The suggested options indicated below will help you practice the given form of writing more successfully.
- Imagine that you are an HR manager of an average company, employing 200-300 people. When the business has been growing gradually, the fact of employee retention has become a cause of concern. Try to analyze several possible solutions in order to suggest a few tips to improve the employee satisfaction.
- You are one of investment bankers in a leading US bank. The company is going to open a new branch in one of the Asian countries. You, as the representative of the Asian country, were chosen to investigate how other banks have been performing in your country. At the same time, you are expected to present a detailed account of opportunities and competition.
- Almost all companies want to include their employees into the decision-making process and team management at all levels. You are expected to examine the most suitable methods to do this. Suggest the best method based on your analysis.
Business Report Writing Guide
- Determine who your readers are. Your audience can include someone within your company or an outside party. Try to consider familiarity or the knowledge readers already have with the intended topic. Moreover, think how readers will make use of information and facts. Keep in mind that regardless of who your readers are, no bottom line speaks louder than money to a customer or company.
- Write an outline of a business report, identifying what you need to learn. One of the hardest parts of writing is forming a conclusion and gathering the data and facts necessary to back up that conclusion. It involves a big number of skills with the inclusion of market analysis and data collection.
The way you organize your writing depends on your objective. Once you have some business report ideas on how to organize the paper, start writing the content.
- Separate corresponding data in parts. A business project cannot be a hodge-podge of information and figures.
- Put proper section headers, which can be easily read.
- Since some sections may depend on input from others or analysis, you may work on sections separately while waiting for the analysis to be finished.
- Gather the appropriate data. Your data should be well-researched; otherwise, you may lose credibility. Be sure the data parameters are relevant to the paper’s point. For example, when you are completing a justification/recommendation report, you should research all benefits of your proposed idea, incorporating research into your paper.
- Draw conclusions with specific recommendations. Come to clear conclusions that stem from the data examined in the paper. Try to recommend the best course of action based on those conclusions.
- Compose an executive summary. Although it goes first on your business report outline, it is the last thing you compose. The executive summary has to demonstrate your conclusions and findings, giving a short overview of what someone would see if they choose to keep reading the paper.
- Cite your sources. No matter what type of research was conducted, you may need to explain the origin of information and data. The purpose of the list of references is to provide resources for other people should they wish to look into data or follow it up.
- Now when you have followed nearly all main steps in business report writing, proofread your paper several times. Basic grammatical errors and misspellings may provide your readers with the impression that you did not put enough effort into writing. Also, be sure to introduce your information in a concise and clear way.
- For instance, do not overuse fancy words and avoid slang. If your audience and paper are closely tied to a particular industry, it may be appropriate to use technical terms or jargon.
- Often, you can miss mistakes when proofreading your own paper. Therefore, it is worthy to consider asking someone else to read over your paper. Review all comments from peers and rewrite the paper according to these comments. In case you are not sure about the content of your paper, defining what is a business report example appropriate for your topic, you can easily find a great sample work that will guide you on your way to completing the task.
- Write a table of contents for your paper. Format the paper in a formal way and create a table of contents in order to make it easy to go through your work. Add all relevant sections, including conclusions and summary.
- Package your project. It implies using blinders or nice folders if you submit the paper copy. Your work has to look sharp to make your readers crave to read it. Thus, do not neglect tips for writing a business report and formatting it.
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Category: Report writing