In business, small opportunities are often the beginnings of great achievements. One key factor that plays a major role in achieving success is a good, well-planned, well-researched business report.
What is a business report?
One of the major types of communication, a business report is a part of business communication. It presents the data and facts of an organization by defining the future in that context.
The structure of a business report
The basic structure of a business report begins with formal information such as title, date and contact information. The background of the subject and purpose or objective of your report follow immediately after.
The findings of the report are very important. They consist of facts, figures, charts, diagrams, and research findings. After that, the entire findings are summarized. Recommendations are given, and references are suggested. You should follow a standard format of business reports to make an impact.
Types of business reports
The types of reports depend on the topic, objective, and target audience of the report. Common types of reports are as follows.
- Investigative reports
- Recommendation reports
- Feasibility report
- Research report
- Situational report
- Yardstick report
- Compliance report
How to write a good business report?
Writing a good, well-developed and content-rich business report is a must-have skill set in today’s competitive environment. Here are some steps to write a professional business report that will carve your path of glory. Follow these effective report writing tips.
Start with planning
Writing a business report is like a dedicated project. You have your research, facts, and figures at hand. Start with planning and keeping the objectives of the report in mind. Plan what you want to present, how you want to do it, and for what purpose.
Define your format
Consult your colleagues and check whether your organization has a specific format for writing a formal business report. If you have a format that already exists, write your report accordingly.
Hone your writing skills
Good writing skills are necessary to write a business report that will be appreciated. Learn to write in a logical flow. The title of the report should be clear and self-explanatory. Keep the title at the beginning. Write your name and the names of the contributors immediately after. Place the index or the table of contents below.
Ensure impactful introduction
A proper introduction should cover the basics of the topic. You should also write the objective of your business report. Give the background. It may consist of some important definitions. Then write the summary of your core argument.
Present the methodology
The methodology section is a crucial part of the report. Make an outline of your research methodology. Have you used a quantitative method or a qualitative method? Or is it a balanced combination of both? Elaborate.
State your research findings
The success of your business report depends on how logically you present your research findings. Ensure that your findings are backed by thorough research. Make the findings reader-friendly with the help of section titles, headings, sub-headings, numbers, or infographics.
Complete your report with the conclusion. It should give the core message of your findings. Make necessary recommendations. Do not forget to add a bibliography and appendices towards the end. Mention your resources and give credits.
Benefits of a good business report
- A business report offers valuable insights into specific areas
- It acquaints the readers with important information
- It can be a positive influence on decision-making
- It can be used to prepare marketing strategies and future plans
Master this tool of effective business communication, and you will definitely be the most invaluable member of your organization.