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One of the most significant objectives of the business report is to acquaint the students with the art of writing about the current events. In addition, new business and economic events take place day by day about which the layman is curious to learn and avail of the opportunity. Market or business reports provide an example opportunity to their readers to earn the situations prevalent in different markets to avail of them. Every retailer, whole seller, producer or any other type of business class warmly welcomes the market reports because a perusal of market reports enables them to come to know the daily fluctuations and the market trend also. On the basis of the study and analysis of the market reports, they can frame their business policies and can take advantages of the prevailing market conditions. Market reports cover a very wide range of activities and give a very clear-cut, simple and regular picture of the prevailing business conditions. A research scholar, an economist, or a policy-maker may also study the market reports and suggest ways and means for the welfare of the country in general and for the business community in particular. Market reports, in a nutshell, may be described as a ready-reckoner of the business information.
The representatives of research bureau are always found busy with task of personal survey, collection of relevant information and investigation of the various markets. First, they themselves visit the markets and collect the necessary information by making an intensive enquiry which may ascertain the present situation and also forth-coming trend; Secondly, they write down the market reports describing a bird’s eye view of the market conditions and reflecting their views on the general tone of the market on the basis of their personal collection study and analysis of the market; lastly it is followed by a current price list.
Proposal means to present the information as per the requirements. When someone his thoughts before someone else it is called a proposal. The proposal can be both oral or written.
In actual business sense, a proposal means to present your opinion or method of doing a thing before the other party or an agency or association or government. It is better to think over the proposal before presenting it. Some reasons for business proposals are :
1. To convince the reader of the existence of a situation, or to take a course of action.
2. To buy a service or product from the reader.
3. To convinces your department of your need for a new technology.
4. To provide you with funds ( for example, a loan or grant, or to become a partner or shareholder).
A Proposal is a medium f presenting your opinion about things. Before proposing something the proposing party should seriously think about the problem and analyse it. He should do research on the methods of solving the problem and choose the best possible alterative method. He should be certain about something like :
1. The type of the problem?
2. Method to tackle the problem?
3. Ideas;
4. The benefits of solving the problem.
5. Other problems can arise out of this problem if left unsolved.
6. The expenses.
Proposal are of two types:
1. Solicited Proposals : The proposals which are invited by one business enterprise from other business enterprises are called solicited proposals. Whenever a business house gives contracts it invites proposals from different firms and the best proposals is selected. No firm can complete its business on its own, because with side of the firm the size of its business related activities also increases. For completing its work a firm invites proposals and chooses the one which best satisfies its purpose.
2. Unsolicited Proposals : Every firm wants to increase sales of its product. Thus, whenever a customer goes to the market the shopkeeper shows him many varieties of the thing he demands. The purpose of the shopkeeper in presenting all varieties is to satisfy the customer and increase his own sales. Thus, the nature of the shopkeeper of showing various varieties and giving his own opinions about the things is an example of unsolicited proposals.
A proposal can be put against the other party in any manner. But, there are some official behaviours which force a business firm to behave in a set order. Therefore, any proposal must contain the following structure :
1. Introduction : This is the opening section and that part of the proposal which helps to project a general picture of the environment. It contains the basic idea of the proposal. It must contain a brief description of the organization, the history is short, the functional division of the organization, the area and method of work and the financial structure. A risk which remained ever while presenting the proposal is overwriting of introduction. It must be avoided. The introduction must contain some comments or points also with strict compressions.
2. Main Proposal : This part of proposal contains the main and important matters. In other words the important matters contain the reason behind the proposal, job description, analysis etc.
The second part of important matters covers the planning of the job ahead. This part covers the steps to be taken for completing the job and the people required for the job. The powers and responsibilities of the people undertaking the job are authorized to them. While preparing the important matters utmost care should be taken.
The third part of important matters contains the requirements of the people directly associated with the proposal. These people are informed through the proposal how they are supposed to take up the task and which person is responsible for which job as per his qualification.
The last part of important matters is related to the financial aspect of the proposal. It contains all the details of the monetary requirements of the proposal.
In the main proposal part supportive illustrations may be present to make the proposal more informative and easy for decision making:
a. Organizational chart;
b. Diagram or plan of the premises;
c. Flow process chart of the operations;
d. Charts showing maintenance programmes or labour distribution;
e. Drawings of the products and work situations;
f. Diagrams to show allocation of expenditures or revenues;
g. Sales position graphs; and
h. Tables of statistics.
3. Conclusion : A proposal should be prepared in such a manner that it leaves an immediate impression on the reader at the very first reading. A colour picture can be used on the front page of the proposal. The main elements of the proposal can be presented in bold letters. The proposal should be presented in a manner that it makes reader more and more interested in your business.
This way every proposal must be conclude effectively giving full justification of every point.
A report is a logical presentation of facts figures and information. A good business report must be an orderly arrangement of some factual information that is objective in nature and serves some business purpose. It is designed to give a complete picture of what has taken place at a distance form the reader who does not know about it and gathers knowledge about it from what the writer presents in the report.
Accordingly to American Marketing Society, “the purpose of a report is to convey (to) the interested persons the whole results of the study in sufficient details and so arranged as to enable each reader to comprehend the data and so determine for himself the validity of conclusions”.
The British Association for Commercial and Industrial Education has defined a report as “a document in which a given problem is examined for the purpose of conveying information and findings, putting forward ideas first and sometimes making recommendations.”
The main objective of any report writing whether it is business, general or report for a new project, is to provide a handful of information about the subject in question. The report is the basis on which the senior management or the sanctioning authority takes decisions may belong to the production, the expansion, the recruitment or to setting up or new plants.
A Report is a basic management tool used in decision-making. Hence it is extremely important. In a one-man business, the functions of reporting and decision-making are combined in one man the proprietor. He knows his business inside out and is capable of making on the spot decisions. So he does not need any reports. But large-scaled organizations are engaged in multifarious activities, which are being handled by different departments. Their top executive cannot keep a person watch over all these activities. So they have o base their decisions on the reports they get from the heads of various departments. For large organizations, reports are just indispensable.
1. Report carries information from someone who has it to someone who needs it. A report is a basic management tool used in decision-making.
2. It brings into application a number of aspects.
3. It provides the ability to investigate and analyse a problem and further to present solutions in a methodical manner to a logical conclusion.
4. It gives an overall assessment.
1. Informal Reports : An informal report is usually in the form of a person-to-person communication. It may range from a short, almost fragmentary statement of facts on a single page, to more developed presentation taking several pages. An informal report is usually submitted in the form of a letter or a memorandum.
2. Formal Reports : A formal report is one which is prepared in a prescribed form and is presented according to an established procedure to a prescribed authority. Formal reports can be statutory or non-statutory.
a. Statutory Report : A report prepared and presented according to the form and procedure laid down by law is called a statutory report. Report submitted at the statutory meeting of shareholders, directors, report to the Annual General Meeting, Annual Return, Auditors Return, Auditors’ Report are statutory reports.
b. Non- Statutory Report : Formal Reports which are not required under any law but which are prepared to help the management in framing policies or taking other important decisions are called non-statutory reports.
1. Periodic or Routine Reports : These reports are prepared and presented at regular, prescribed intervals in the usual routine of business,. They may be submitted annually, semi-annually quarterly, monthly, fortnightly, weekly or even daily. Generally such reports contain a mere statement of facts, in detail or in summarized form, without an opinion or recommendation. Branch Managers of banks submit periodic reports to the Head Office on the quantum of business transacted during a particular period.
2. Special Reports : These reports are related to a single occasion or situation. A report on the desirability of opening a new branch or the unrest among staff in a particular branch are special reports. Special reports deal with non-recurrent problems.
1. Informative Report : If a report merely presents facts pertinent to an issue or a situation, it is informative. On the other hand, if it analyses the facts, draw conclusions and makes recommendations, it may be described as analytical, or interpretative, or investigative.
2. Interpretative Report : if a report presents production figures in a particular period, it is informative. But if it goes into the causes of lower production in that period, it becomes analytical, interpretative or investigate.
1. Problem Determining Report : These reports are formal in nature. These reports determine or tell problems from one post to another. Such type of reports are generally move from subordinates to superior. But contradiction can also be observed in cases where general problem is located and superior warns or suggests to do or not to do one action.
In cases, in a problem-determining report, we try to determine the causes underlying a problem or to ascertain whether or not the problem actually exists.
2. Fact-finding Report : The main purpose of such reports is to unveil some facts that are subjective in nature. These reports are generally used in conflicts, failures and research and development areas.
3. Performance Report : Performance report is a very common subjective report. It brings into account the performance of a product, a service, a machine, a scheme or a person or employee. These reports are prepared for a period of time and in certain given conditions. Such reports are used to appraise the working and to judge the value.
4.Technical Report : In a technical report, we present data on a specialized subject with or without comments. These reports are normally presented during accidents, failure or breakage of a machinery.
A good report, undoubtedly, is a difficult work. A good report must contain the following points :
1. Precision : In a good report, the writer is very clear about the exact purpose of writing it. His investigation, analysis and recommendations are directed by this central purpose. Precision gives a kind of unity and coherence to the report and makes it a valuable document.
2. Accuracy of facts : The scientific accuracy of facts is very essential to a good report. Since reports invariably lead to decision-making, inaccurate facts may lead to disastrous decisions.
3. Relevance: The facts presented in a report should be not only accurate but relevant also. While it is essential that every fact included in a report has a bearing on the central purpose, it is equally essential to see that nothing relevant has escaped inclusion. Irrelevant facts make a report confusing; exclusion of relevant facts renders it incomplete and likely to mislead.
4. Reader- Orientation : A good report is always reader-oriented. While drafting a report, it is necessary to keep in mind the person(s) who is (are) going to read it. A report meant for the layman will be different form another meant for technical experts.
5. Objectivity of Recommendations : if recommendations are made at the end of a report, they must be impartial and objective. They should come as a logical conclusion to investigation and analysis. They must not reveal any self-interest on the part o the writer.
6. Simple and unambiguous language : A good report is written in a simple, unambiguous language. It is a kind of scientific document
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