FUNCTIONS, USES, OR ADVANTAGES OF A BUSINESS REPORT
A business report has the following functions, uses or advantages:
1. It provides a better understanding of the problem.
It measures progress. It reviews the progress of a project or programs of a company. It explains how far a company has achieved its objectives and goods. The report explains where the weaknesses and strengths lie, and what difficulties, impediments the company is facing.
3. It provides facts and valuable data. Before reports are prepared necessary and relevant information is gathered from reliable primary and secondary sources.
4. Management uses reports for sound decision making.
5. Management finds itself in a better position to redesign polices, programs, and procedures.
6. Management can learn its fault in relation to employees, production, marketing, and finance. Therefore, the report acts as a control device.
7. It is useful for common interest. Reports provide information and technical and professional knowledge. They help ill developing new theories, discoveries, and methods.
8. Reports s may be used as valuable material for training development, and research.
9. Reports not only define and analyze the problem but they suggest remedies to it. They may contain one or a set of alternative courses of actions. The reader may select the best from among them.
10. It suggests the reader to adapt himself to the tune of time and situation, and take actions accordingly.