Information technology has important effects on
business operations. No matter the size of your enterprise, technology has both
tangible and intangible benefits that will help you make money and produce the
result your customer demand. Technological infrastructure affects the culture,
efficiency and relationships of business.
First and foremost,
technology affects a firm’s ability to communicate with customers. In today’s
busy business environment, it is necessary for employees to interact with
clients quickly and clearly. Websites allow customers to find answers to their
questions after hours. Fast shipment options allow businesses to move products
over a large geographic area. When customers use technology to interact with a
business, the business benefits because better communication creates a stronger
public image.
Technology also
helps a business understand its cash flow needs and preserve precious resources
such as time and physical space. Warehouse inventory technologies let business
owners understand how best to manage the storage costs of holding a product.
With proper technology in place, executives can save time and money by holding
meetings over the Internet instead of at corporate headquarters.
·
Email
Email is widely used as a form of business communication and overall it
is a highly effective communication tool. Email is inexpensive, only requiring
an Internet connection that is generally already present in the business.
Although a printout of emails is possible, emails often stay as soft copies
because archiving and retrieving email communications is easy to do. From the
CEO to the janitorial staff and even temporary employees of the business can
send and receive email communications.
·
Internet
The role of the Internet in business communication is varied and has come to be of great
importance. It can be used to increase effective communication both internally
and externally. Use of the Internet can make it easier to connect with others
quickly and more often, in addition to exchanging a wide array of media types.
It can be used to communicate purchase information to vendors and by customers
to ask questions. The factors that make the role of the Internet in business
communication important can also cause conflict, depending on the way the
medium is used.
·
Voice mail
Voicemail has come a long way from its earlier years of just
taking messages. Today, there is a wide range of features and benefits to using
an enhanced voicemail
service. Voice mail
systems can greatly enhance a business’ performance and increase efficiency in
communication with customers and clients, which is why every business should
make an effort to search for a system that will offer functionality that will
help streamline communication and improve instant access to information. Small to medium-sized businesses have many
options available without the need to purchase costly in-house equipment, and
finding the right voice mail system should be just as important as any other
communication decision, since after all, the telephone is the first line of
communication that customers have with a company. The way that calls are
answered and handled can make or break a company, which is why businesses
should take a serious look at using a voice mail system that delivers.
·
Teleconferencing
1. It Cuts Back on Travel
With even smaller companies
conducting business outside of their city, province, and even country at high
frequencies, they need to rely on partners or associates from these alternate
locations. Video conferencing solutions allow associates to visually
communicate without having to jump on a plane or drive across the country,
which in turn cuts back on costs and time.
2. It Accommodates a Shift in Employee Behaviour
Millennials currently account for
the largest demographic in the Canadian workforce. And if you don’t know by
now, you’ll soon realize that they prefer to work on their own time at a
location of their choosing. This means employers need to make adjustments that
allow for this generation to feel comfortable working at any level. That means
having communication technologies that allow for this new trend of remote work.
Access to video conferencing thus becomes a significant factor, as the
inclination to collaborate is another inherent characteristic that most
Millennials share.
3.
Sometimes
a Phone Call Isn’t Good Enough
Countless studies have shown that
the large majority of communication is nonverbal. A famous UCLA study even has
it at 93%. In business particularly, being able to ensure you have the
attention of your team, or being able to gauge the mood of a client, is key to
the decision-making and negotiation processes. Video conferencing essentially
puts everyone in the same room at the same time with the accountability of
having to be present and aware of everything being said.
4. Ensure Your Technology Is Functional with Video
Conferencing
The reason companies turn to a
separate technology for video conferencing is because the free apps available
through mobile devices and smartphones aren’t reliable enough to conduct business
appropriately. A dropped call or shaky video is OK if you’re speaking to a
friend, but imagine the screen cutting in and out, suddenly going black, or the
call dropping altogether in the middle of a conference call with stakeholders.
It simply does not project an agreeable impression of the given business.
Definition of Business Reports
Business reports
are a type of assignment in which you analyse a situation (either a real
situation or a case study) and apply business theories to produce a range of
suggestions for improvement.
Business reports are
typically assigned to enable you to:
- Examine available and potential solutions to a problem, situation, or issue.
- Apply business and management theory to a practical situation.
- Demonstrate your analytical, reasoning, and evaluation skills in identifying and weighing-up possible solutions and outcomes.
- Reach conclusions about a problem or issue.
- Provide recommendations for future action.
- Show concise and clear communication skills.
Remember that with
business reports, typically, there is no single correct answer but several
solutions, each with their own costs and benefits to an organisation. It is
these costs and benefits which you need to identify and weigh-up in your
report.
Further, when writing
the report, you need to consider the audience
you are writing for: is it the CEO or will the report be available to all staff
concerned? It is vital that you ensure an appropriate level of formality,
sensitivity, fairness, and objectivity.
A business report is
very much useful for the management and also for the others. Its importance is
because of the functions it performs. The functions of business report are :
·
Provides Facts pertaining to events,
conditions, qualities, progress, results investigations or interpretations.
·
Measures Progress of employees,
departments, and companies.
·
Points Causes of problems e.g., low
margins, high rate of staff turnover, accidents in factory etc.
·
Suggests measures to overcome the
business problems.
Types of Business Reports in Business Communication
The business reports are classified on many basis. Such
types of business reports are briefly explained.
Reports on the basis of Importance or Frequency
The reports are classified into two types. They are :
1.
Ordinary or routine reports
2.
special
reports
1. Ordinary or Routine Report
Ordinary reports are prepared and presented before the
managing director at specific intervals or to the next authorized person in the
business routine. The reports shall be submitted either daily, weekly,
fortnightly, monthly, quarterly, bi-annually or annually. This type of report
contains mere statement of facts in detail without any opinion or
recommendation of the reporter. Examples for routine reports are Report of Directors to the Annual General Meeting, Auditor’s Report to the Annual General
Meeting, Sales Report, Production Report and the like.
2. Special Report
This type of report is prepared and presented before the
top management on specific request. It usually contains the opinions or
recommendations of the reporter with the help of facts and arguments. Examples
for special report are opening of branch, introducing a new product, Improving
the quality or changing the shape or size of the product and the like.
Reports on the Basis of Legal Formalities
The reports are classified into two types. They are
formal report and informal report.
1. Formal Report
Formal report is prepared in a prescribed format and
presented before the competent authority in an established procedure. Reports
submitted by officials or committees of constituted bodies (example: Companies,
Cooperative Societies,
Local Bodies etc.) are usually formal report.
2. Informal Report
Informal report is prepared in a format of the
convenience of the reporter and presented directly before the required person
as and when demanded. An informal report is presented as in the form of letter
or memorandum. Generally, it takes the form of a person to person
communication.
The formal reports are classified into two types. They
are statutory report and non-statutory
report.
Reports on the basis of Function
The reports are classified on the basis of function into
two types. They are informative and interpretative.
1. Informative Report
An informative report is prepared and presented with the
help of available information at the maximum with regard to an issue or
situation.
2. Interpretative Report
An interpretative report is not only contains the facts,
views and opinions of reporters and others but also includes the causes for an
issue or an event and required remedial action with recommendations.
Reports on the basis of meetings
Whenever a meeting is organized in any business organization, a
report is prepared by the secretary or any other individual about the
proceedings of the meeting. Such reports are classified into two types. They
are Verbation Report and Summarized Report.
1. Verbation Reports
A verbation report is a complete word by word record of
all discussions made at a meeting. For example, Appointment of an Auditor. A
resolution is passed in the meeting. Likewise, Directors are appointed and the
remuneration and perquisites of key personnel are fixed by passing a
resolution. In this case, a report is prepared by including the verbation
record of the resolutions passed with the names of the proposers and seconders,
manner of voting and results.
However, the verbation report should not be confused with
the minutes of the meeting which is the official record of the proceedings and
the decisions arrived at in the meeting.
2. Summarised Report
A summarized report is prepared with the help of the
essential details discussed in the meeting. This type of report is prepared for
sending to the press or to shareholders of the company or members of the
institution.
Reports on the basis of Nature of the Subject dealt with
The following reports are included in the report which
are classified on the basis of the nature of the subject dealt with.
1. Problem Solving Report
A problem may arise in any one of the department or in
the whole organization. Hence, the top management may seek a report for solving the problem. When,
the reporter collects various information to find the causes for such problem.
Moreover, the report is concluded with the ways of solving the problem. Such
type of report is called Problem Solving Report.
2. Fact Finding Report
A machine may be breakdown in the factory premises.
Sometimes, there may be a rivalry between the two group of workers. Now, the
management wants to know the real reason for machine break down and group clash
between the workers. In this case, the reporter analyze the incident through
detailed investigation and find the truth. Finally, the reporter presents the
facts in the report form before the top management.
3. Performance Report
The business organization wants to know the performance
of each department periodically or performance of a branch or performance of
newly appointed employee or performance of existing employees for promotion,
transfer and the like. The management is not in a position to take a decision
without knowing the performance. Hence, a reporter is asked to prepare the
performance report for anyone of the reasons mentioned above.
4. Technical Report
There is a lot of changes made in the technology.
Whenever a company is going to introduce mechanical process instead of manual
process, the level of technology required assessed. Sometimes a design may be
changed in the existing product, if so, latest technology should be adopted. In
this case, a detailed report is essential to top management for taking a
decision. Such type of report is called Technical Report.
Reports of Committees or Subcommittees
Committees or Subcommittees are formed by the top
management to prepare the report on any one of the issue. The followings are
included in the reports of committee or subcommittee.
- Standing Committee Report
- Adhoc Committee Report
- Minority Report
- Majority Report
1. Standing Committee Report
Standing Committees are permanent in nature and are
entrusted to deal with some continuing aspects of the business organization.
For example: Finance, Performance of Employees, Performance
of Departments etc. These matters are continuously watched by the standing
committee and submit the report at frequent intervals.
2. Special or adhoc Committee Report
Special or adhoc Committees are appointed to deal with
special investigation and are dissolved as soon as the presentation of report.
Hence, the life of special committee is temporary.
For example: Fire occurrence or Accident incurred within
the factory premises. The causes for fire or accident are find out by forming
special committee.
3. Minority Report
Committees or subcommittees are appointed to submit the
report based on the investigation of special subject. Generally, three members
are selected to form a committee or subcommittee. One member being the chairman
of such committee or subcommittee.
If the members have different opinion or views over the
subject matter dealt with, the dissentient member may append the notes of
dissent or may submit a report separately. Such report is termed as Minority
Report. Even though, the dissent members must sign in the majority report with
dissent note.
4. Majority Report
Generally, all the members of the committee or
subcommittee including chairman have unanimous opinion among them. If so, only
one report is prepared and presented before the responsible body. If not so,
majority members of the committee or subcommittee have different opinion than
minority members. In this case, majority members are going to submit a report
before the responsible body. Such report is termed as majority report.
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