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Business Report Example

Business Report Example

A business report, which is also known as a formal report, is a data compilation, a short account, or a plan, or even summarized minutes of a certain meeting. Such a business report is basically a way communicating logically summarized and formatted information to associates, superiors, or subordinates.
BusinessZeal Staff
Last Updated: Apr 29, 2018
The term business report is very broad, and its scope extends up to almost all reports that are formally written to fulfill some or the other business motive or objective. Technically, you can write a business report even on a small discussion you had with your boss.

Features
  • The report has a specified objective, motive, or aim, such as a proposition, proposal, or simply a general report.
  • Rationality is the second most important feature of a business report. The facts that have been included in the report need to be backed by a rational figure or logical thought. It can never be abstract.
  • Thirdly, time frame is a crucial feature, as the time frame of execution of tasks needs to be included in the report.
  • Lastly, a backup plan is also needed to restore the original targets, as there is always a high probability that the original plan may not be completely executed.
  • Lastly, you can also include a protocol for the same, which can include definitions, internal norms, and rules, in relation to the report.
Thus, to sum up, a business report should be an A.R.T.B.P (aim, rationality, time-frame, backup plan and protocol), so that it becomes a success.

Features
There are approximately 10 elements of a business report. These segments are basically set in such a manner that they fulfill the aforementioned features of the report. It is a convention that usually one element is included on one page or a couple of pages, depending upon the size of the report.
  • Title of the Report
  • Letter of Transmittal
  • Table of Contents
  • Summary/Synopsis
  • Introduction: Main content
  • Discussion of the main content
  • Conclusions drawn
  • Recommendations
  • Bibliography/Source
  • Appendices
These elements have been explained in an example provided below that will help better illustrate the point.

Sample Report
Now, note that, this business report is just an example, and is thus quite short and simple. In reality, an actual report is much longer and also tends to provide much more precise and intricate information.


Report on Eco-Homes Project

1. Title of Business Report
  • Title: Eco-Homes Project Initiative
  • Objective: Compile data and analysis for development for housing project Eco-Homes at location and address of the project.
  • Report by: Dr. Larry Marshall, CEO EcoVision Projects, Empire Construction and Infrastructure Group.
  • Key Contents: A Detailed plan, proposition, execution schedule and analysis of the project idea of an eco-friendly settlement put forth by Dr. Jason Smith, New Projects Department, Empire Construction and Infrastructure Group (mother company).
  • Reporting and Analysis Time: 1 month
  • Project Implementation Time: 17 monthsAssumptions: The time frame and execution is framed, taking into consideration the seasonal elements of climate and other turnover ratios, experienced in the previous financial year.
2. Letter of transmittal
Attached, letter of transmittal, conveying the idea by Dr Smith, consisting of the core features of report.

3. Table of Contents
  • Summary and Synopsis of the Project
  • Introduction
  • Discussion and Details
  • Conclusion
  • Recommendations
4. Summary and Synopsis
The Eco-Homes Project Initiative is an underway project which has been conceived by the Empire Group. The basic ideology of the initiative is eco-friendly living. The Empire group intends to build a mega residential complex which is spread over 35 acres of land, and house around about 150 households, which are self-sufficient in several ways. The complex thrives on the basis of inbuilt agricultural center, animal husbandry center, building gardens, fuel cell and bio-gas-propane generators of electricity, massive solar panels which provide heat to the homes and also electricity. The complex will span over the 35 acre premise and will consist of 3 core residential centers 15 solar panel driven green houses, 2 orchards, 5 gardens, 3 pastures and 3 animal husbandry centers cum dairies and a staff of 33 people.

5. Discussion and Details
Some common points, details and conclusions that were drawn in the meeting of project engineers, company architects, cost accountants and the CFA's go as follows.
  • The project will bring a substantial revenue if all 150 houses are sold off at a price of amount per house hold. The project will be a highly big commercial success as it is not just situated in the city but, once the customer buys the housing facility his usual bills that include, electricity and water bill will be cut down to half. The only con that is foreseen is that the sale value is huge.
  • There are 5 phases of the project, namely, the basic foundation phase, housing complex 1 phase, followed by 2 and 3, with the last phase being the development of all the support and infrastructure facility. It is estimated that every phase would go on for 3 months plus a backup of 2 months has been provided.
  • The sales for real estate would begin with the completion of housing complex 1, followed by complex 2 and 3. By the end of complex 3, the real estate market rates would have increased by 7.8%. This price escalation however is not included in any of the calculations.
  • The cost sheets showing cost projections for the project have been attached.
  • A 5 year maintenance, free of cost has been provided for the complex. An operation cost of about $500 per 2 months is to be paid by every household to keep the operations going.
6. Conclusion
The project team recommends that this project should be taken up and executed as fast as possible as the real estate market is and the eco-friendly products have been consistently showing positive rises in the past 5 years.

7. Recommendation
In order to reduce operational cost of $500 for every two months, which is incurred by the residents, the project team recommends more research and development. It a selling point that can be put forth to boost sales.

The aforementioned project, names of companies, and people are fictitious. Apart from that, the report in itself usually tends to be huge.