Whether you’ve been in a business class for just a few week or for over a year, there’s a high chance you’ve heard about business reports and the different types that are there.
This post gives the definition of a business report and the different types of business reports you may have to write in a classroom and (perhaps) even in an ideal corporate world.
What is a Business Report?
A business report is a document that presents business information in a specific format. The report gives a summary and an analysis of issues, facts, or situations followed by relevant recommendations.
The purpose of a business report is to present potential and viable solutions to problems, offer suggestions for improvements, highlight analytical evaluation, make conclusions about an issue, and enhance clear communication.
Business reports offer multiple solutions to issues at hand. In this respect, your task is to determine the cost and merits of each solution.
What are the Different Types of Business Reports?
The different types of business reports are investigative, feasibility, periodic, yardstick, and research-oriented reports.
1. Investigative Report
An investigative report examines and gets to the root of a particular issue through research and detailed writing based on a specific purpose.
Businesses use investigative reports for various reasons. For example, the report can trigger a specific action based the overall finding, help with legal proceedings, or act as a data source for implementing measures within a company.
A good investigative report is clear and direct to the point, with details on whether the claims under investigation are substantial or otherwise. The clarity of the information presented enables the target audience to understand the nature of action to take based on the outcome of the research.
The structure of an investigative report should include an executive summary, preliminary case information, a summary of the allegation, and the subject of the allegation. You also have to include the various interviews, creditability, conclusion, and recommendation.
2. Feasibility Report
The feasibility report focuses on the analysis and justification of a projection over other options. The report explains how effective a proposed solution based on aspects such as financial, legal, environmental, and technical implications.
A typical feasibility report for business has six parts:
- Project Scope: It defines the business’s problem or the opportunity under scrutiny.
- Current Analysis: It looks into the existing methods of implementation, including their strengths and weaknesses.
- Requirements: Here, you detail the requirements and the methods to go about the study.
- Approach: Detail the steps you would take to conduct the feasibility study and explain whether the approach was cost effective.
- Evaluation: Focus on the return on investment and do a thorough cost and benefit analysis.
- Review: Look at how effective the proposed project is. Write about the thoroughness and accuracy of the report. Remember, the management can only accept and sign a project if it’s successful.
3. Periodic Report
A periodic report presents information on the events that take place over a given duration based on a given set of data.
There are different types of periodic reports, such as:
- Incident Report: Tracks specific events in a business.
- Sales Report: Determines the growth of the company.
- Progress Report: A progress reports tracks all the business changes and business activities.
Keep in mind that writing a periodic report is all about accuracy. For an actual business setup, an accurate periodic report helps to tick all the legal boxes in a business operation.
For school, your teacher will look into the reliability of the source of information you provide.
4. Yardstick Report
Yardstick report compares different solutions to a single problem and allows you to measure these solutions concurrently so that you end up with only the best solution.
To write a comprehensive yardstick report:
- Identify the problem.
- State all the possible solutions.
- Detail all the criteria for choosing the most suitable solution.
- Choose the most relevant solution to the problem at hand.
- Make a recommendation of the solution based on the set criteria.
The yardstick report has to be clear and specific, so the reader can understand why you picked one solution over another.
5. Research Report
A research report focuses on a detailed analysis based on data collected from in-depth research. The report details a complete research process, it includes support documents such as graphs and tables, and it has clear findings, description, and recommendations.
To write a good research report:
- Define the context of the report in a draft before you start writing.
- Study and understand your audience, ensuring you include the significant findings from your research.
- Create surveys and questionnaires to gather significant data.
- Develop a clear structure with headings and subheadings.
- Write in a formal language.
6. Analytical Report
An analytical report contains a mix of qualitative and quantitative data, historical insights, and real-time information that a company or business can use for decision-making.
In addition to providing information, an analytical report gives recommendations, solutions, and steps to take to solve business problems.
7. Product Report
Businesses use product reports to manage aspects related to product development.
A product report is helpful because it enables a business to track the best-selling products, to assess consumer purchase behavior, and to calculate inventories.
How Do I Write a Business Report?
You write a business report by focusing on the formal structure of the document.
The report need to have a title page, a summary, table of contents, an introduction, methods and findings, conclusions and recommendation, references, and appendices.
Remember, you’re writing for an audience that has a short attention span, which apparently keeps reducing every year. Therefore, focus on clarity and conciseness as you write the business report.
Do You Offer Business Report Writing Service?
Yes, Help for Assessment offers business report writing service. You can place your order on our website, and we’ll assign it to a writer who understands the ins and outs of business reports.
It costs $12.99 to $40 per page depending on the urgency to hire someone on Help for Assessment to write a business report for you. Also, we offer up to 10% discount to all customers new to our platform.
We guarantee quality work because we focus on in-depth research, custom writing, and timely delivery.