- July 14, 2022
- Posted by:
- Category: Business Guide
Business Report Writing -Meaning and components of Writing a Business Report
What is Business Report?
A business report is an official document which consists of factual information, statistical data, research findings or any other form of information relevant to the course of the job. This form of document is formal and entirely different from academic or research writings in purpose, structure and importance.
Similarly, a business report can be a kind of document which helps in conveying information about the affairs of a business, keeping tabs on the progress made in relation to the projections on the business plan and communicating with other staff in the business.
Importance of Business Report
The importance or relevance of a business report in any form of company or business setting includes:
- It aids and enhances the decision-making process in the company or organization.
- In addendum to the previously stated point and in regards to the company’s growth, a business report aids the company in effectively pitching ideas and opinions to potential investors or prospects
- It helps to keep tabs on the progress of the company and helps in promoting the company’s brand and its brand identity as well.
- Business reports are equally relevant for data analysis and in building or drafting future business plans.
Difference between Business Report and Business Plan
A business report is not a business plan. A business plan is a map of your business. Your goals, your projections for certain periods or seasons, your capital and other fiscal features appear in your business plan. In a business report, you give an account of how well you have fulfilled the content of your business plan and other progress or loss your business has encountered. A business report ought to be clear, void of needless jargon and straight to the point.
Components of a Business Report
The Components or the structure of a well-written business report include:
- Title Page
- Table of Content
- Executive Summary or Abstract
- Body or Main Section
- List of figures or tables
This section is simply the name of your business report. You can draw this from the type of business report you’re writing or for what purpose you are writing. The title page of any document is important and cannot be overemphasized as many readers either turn the pages and read more or put it away altogether. This might appear trivial but are an integral part of any business writing and ant writing in general.
TABLE OF CONTENTS.
This part contains a list of all topics and subtopics you have addressed in your business report. It provides quick insight into what to be expected in your document and prepares the reader’s mind for what to expect and how to approach these expectations.
EXECUTIVE SUMMARY OR ABSTRACT.
An abstract or executive summary is a summary or brief rundown of the entire document. You can use it to your advantage to briefly summarize all the content of your work. If a prospect, investor or simply any reader does not go past your executive summary, they should have been able to know at least 50% of whatever point you tried passing across in the entire document.
This is a tricky part as many business report writers might confuse this with the executive summary. An introduction is an insight into the chapter you’re delving into. To keep the document less cumbersome, make a brief introduction. You can present an introduction for all chapters if you have the time to present them or believe the reader would have the patience to consider its content.
This is where you break down in important detail all the points you’ve made or promised to address in your executive summary or abstract and in the introduction. You can write this part as an essay or in chapters depending on how convenient or effective it would be for your business.
This is a summary of everything you have written again. This summary is more important as it includes a call to action and its tone should be more persuasive in case there are any demands that might have been made. Use assertive words to conclude your work.
LIST OF TABLES AND FIGURES.
This might be necessary if you included any tables or charts to present any figures and data.
This is not always necessary, but if you borrowed any material from an external source into your business report, it is greatly advised to include them to avoid any accusations of plagiarism.