A memorandum, more commonly known as a memo, is a short message or record used for internal communication in a business. Once the primary form of internal written communication, memorandums have declined in use since the introduction of email and other forms of electronic messaging; however, being able to write clear memos certainly can serve you well in writing internal business emails, as they often serve the same purpose.
TO: All Seniors Preparing For a Career in Marketing
FROM: Patrick Renison, Marketing Research Assistant
SUBJECT: Internal Documents Likely To Be Encountered In the Workplace (Business Reports)
The purpose of this memorandum is to inform you on the possible internal business documents you might encounter in the workplace. In this case, a business report is one of the internal business documents that a worker can encounter in the workplace. Business reports are important in communicating ideas in the enterprise environment. They usually address specific issues or problems. Business reports can vary considerably in context, length, and even format. Some examples include reports requested by management regarding some specific issues, progress reports, reports solicited by the government regarding the organization’s compliance with regulations and also reports on feasibility studies. This memo will focus on the reports solicited by the organization in exploring specific issues. Business reports present the writer`s findings on a problem or issue and then recommend a course of action that an organization should take.
In most cases, companies have a given specific format for their reports. The following are the components in a business report: title page, letter of authorization, transmittal letter, a table of contents, summary or synopsis, an introduction, the body, conclusions, recommendations, bibliography, and brief guidelines for sections. For a report to be meaningful, the above-listed components are vital.
In the authorization letter, a person authorizing the report states the aim of the report and its significance to the organization or recipients. The transmittal letter that usually serves as a distribution checklist includes the people who will be served with a copy of the report. The table of contents comprises of page numbers using either Roman or Arabic numbers showing contents contained in the report.
Synopsis or summary is an overview of the report that is at least one or one-half page identifying the aim of the report as well as its results. The introduction part of the report describes the objective of the report, methods of research, and presents findings alongside with supporting information and analysis. The body of the report presents the pertinent information collected. Visual aid such as graphs and charts can be used to support the results with headings and subheadings that are clear and organized.
The conclusion part comprises explicitly stated findings and restates the objective. The conclusion may vary based on the purpose of investigation. The recommendation section contains suggestions for further action based on the findings and conclusion with a proper implementation plan. Finally, reference section indicates the sources of information.
Business reports are prepared either weekly, monthly, or at the end of the year to evaluate the progress of the business enterprise in terms of efficiency, loss, and profits. The variables that one can encounter include income tax return, employment tax returns, state returns and information returns. All these variables indicate deductions, expenses, and credits to help an enterprise reach its net income. Some of the contextual variables that can affect the preparation of business reports include economic context, political and social factors. Therefore, these variables can act as a justification for the report to stakeholders and an indication of how the recommendations can help improve the enterprise.