A good business report possesses a variety of components. Whether you are to commission, write or read a business report, you need to know what essential elements to look for. A business report is only as effective as its content. In all cases, you want a business report that is fresh, well researched and accurate.
The purpose of a business report is to convey information about a business. A traditional business report serves to communicate business concepts, business models, objectives, projections and procedural codes. Some business reports present solutions to existing challenges, whereas others present information for future planning -- either is a viable option.
A good business report will possess the following steps: determine the scope of the information, identify the audience to which the report is written, collect and analyze research, and present research findings. Without a clear format, a business report may miss its intended application and/or fail to present a cohesive theme.
The driving force behind a thorough business report is solid research. Whether market research is achieved through primary research methods, i.e., a researcher obtains research data first hand from direct sources such as customers or suppliers, or secondary research methods, i.e., a researcher obtains data through an investigative process, its sole purpose is to give a business viable information about consumer behavior. Without information about consumer behavior, a business report is ineffectual.
A business cannot thrive or make strides toward future success without an accurate and up-to-date business report. A business report must be changed as the data within it changes or new challenges and objectives within the business arise. One way to keep a business report fresh is to stay away from jargon and “buzz” words or concepts and rely on hard researched facts.