Administrative and managerial activities in the modern world are growing in a complex environment. Organizations need accurate and up-to-date information in order to formulate their future line of action. Formation of policies is not possible and practicable in the absence of information; and to fulfill this aim the top-brass executives/policy formulators require the latest information in order to chalk out proper strategies for improving organizational performance. An efficient and highly professional management is in the habit of obtaining reports regularly. Therefore it can be affirmed that report is an integral part of MIS (Management Information System).
A report is an unbiased, objective, straight-forward presentation of facts to one or more receivers to serve a pre-decided business objective. It is a submission of facts and circumstances that are traced out of investigation, inspection, experience, research, survey, interview and the like functions. Presentation of reality is the password here.
Types of Reports
Broadly speaking we can classify reports in three categories:
These are prepared by establishments on daily, weekly, quarterly, monthly, biannually, or annually to present information about sales, income, credit, status, or company’s performance.
Special Purpose Reports
Also known as formal reports, are written to describe or explain a program, event, or investigation.
These are written generally on the matters of public interest, events and happenings etc. News reports can be classified into two broad types, Straight News Report and Investigative Report. The former is the systematic representation of what has happened, in a straight forward, factual plain way. The report neither draws any conclusion nor offers any opinion here. The latter is an in-depth report. It discusses every minute details of the issue and reflects investigative journalism.
Significance of Report
In the modern business scenario, reports play a major role in the progress of business. Reports are the backbone to the thinking process of the establishment and they are responsible, to a great extent, in evolving an efficient or inefficient work environment. The significance of the reports includes:
Reports present adequate information on various aspects of the business.
All the skills and the knowledge of the professionals are communicated through reports.
Reports help the top line in decision making.
A true and balanced report also helps in problem solving.
Reports communicate the planning, policies, and other matters regarding an organization to the masses.
News reports play the role of ombudsman and levy checks and balances on the establishment.