Business Law Research Paper Example

[Kylee Evancho]

AbstractCognitive Computing deals with simulation of human thought processing and analyzing it. Through analysis, Algorithms are generated by system in order to gain self learning capabilities. We can use cognitive computing in various platforms like Artificial Intelligence, cyber security, E-commerce, Image processing. In this paper usage of cognitive computing in E-Commerce is discussed. Introduction To Cognitive Computing Cognitive Computing...

Bank Marketing Introduction As a team member of Sycorr, a technology consulting firm focusing on the banking industry, I have been excited to learn more about the business side of the industry we serve. Because we are not a bank, I selected a client of ours, Bell State Bank & Trust, to focus on for this paper. Although Bell State...

Background information Working capital refers to the funds that are used to meet short-term responsibilities or the funds used to carry out the day-to-day activities of an organization. The management of these resources is equivalently important as the management of the long term finance funds. The management of the working capital is fundamental in making sure that the operations of...

Food is amazing. It is a necessity in order for us to survive and eating it is certainly something we look forward to at any time of day, every day. And it also happens to be one of the most lucrative items for a business to sell in the United States. Many people believe that the key to having a...

Executive summary The Dollar tree Inc company is a leading global operator of discount variety stores which offers a merchandise at a fixed price of a dollar in both United States and Canada. Therefore it can be comprehensively described as a customer-oriented, value-driven store which operates at a one dollar price point. Dollar Tree company was established in Dalton in...

Executive Summary Whirlpool is a famous company across the world for the production, distribution and selling of home appliances. This company started in 1911 as a family business venture and has grown over the years to become a market leader across the globe. It ranks among the best companies across the world as of present. This company was started by...

Abstract This paper discusses planning theory and particularly the urban planning. Major cities and even small towns have poor designs as a result of poor planning. The paper looks at the history of planning and its importance especially in urban areas. It also analyzes the factors that affect planning, ranging from political interference to societal principles as well as the...

Summary From the data collected from different articles and books, I discovered that Apple products are currently dominating the market because the company uses high technology to manufacture its products. Due to the competition Apple is facing ion the market it has implement several strategies to win customers from its competitors. These strategies have helped Apple to remain competitive in...

India is a country that is richly diverse and complex and therefore, it might be difficult for an entrepreneur to determine exactly or to make general conclusions that may be appropriate for doing business there. There are many factors to consider such as the economic, political, social, cultural, religious, as well as geographic ones. There are also other things to...

In the current century of globalization, people around the globe are able to share different kinds of foods from different parts of the world all thanks to the global business in foods and beverages companies and hotels. Now, consumer foods service is the leading driver of global growth in economy and now the fast foods industry is able to reach...

Businesses have been producing reports forever. No matter what role or industry you work in, chances are that you have been faced with the task of generating a tedious report to show your progress or performance.

While reporting has been a common practice for many decades, the business world keeps evolving, and with more competitive industries, the need to generate fast and accurate reports becomes critical. This presents a problem for many modern organizations today, as building reports can take from hours to days. In fact, a survey about management reports performed by Deloitte says that 50% of managers are unsatisfied with the speed of delivery and the quality of the reports they receive.

With this issue in mind, several BI tools, such as RIB BI+, have been developed to assist businesses in generating interactive reports with just a few clicks, enhancing the way companies make critical decisions and service insights from their most valuable data.

But, with so many types of reports used daily, how can you know when to use them effectively? How can you push yourself ahead of the pack with the power of information? Here, we will explore the 14 most common types of reports in business and provide some examples of when to use them to your brand-boosting advantage. In addition, we will see how online dashboards have overthrown the static nature of classic reports and given way to a much faster, more interactive way of working with data.

A report is a document that presents relevant business information in an organized and understandable format. Each report is aimed at a specific audience and business purpose, and it summarizes the development of different activities based on goals and objectives.

That said, there are various types of reports that can be used for different purposes. Whether you want to track the progress of your strategies or stay compliant with financial laws, there is a different report for each task. To help you identify when to use them, we will cover the top 14 most common report formats used for businesses today.

The first in our list of reporting types is informational reports. As their name suggests, this report type aims to give factual insights about a specific topic. This can include performance reports, expense reports, and justification reports, among others. A differentiating characteristic of these reports is their objectivity; they are only meant to inform but not propose solutions or hypotheses. Common informational reports examples are for performance tracking, such as annual, monthly, or weekly reports.

Next in our list of the most common kinds of reports, we have industry-specific reports. As its name suggests, these types of reports are used in specific industries and provide valuable information about KPIs and goals that are unique to that industry. For instance, construction reports are invaluable tools to track project progress and extract valuable conclusions to optimize processes.

The example below is a report for a construction company that has multiple active projects. The template offers a complete overview of performance with KPIs related to contract value, budget, and profit margins, among other things. That said, the most valuable part of this report is the detailed overview of finishing projects and projects in execution, where we see that industry-specific KPIs like the SPI and CPI are tracked for each project with color to understand the status at a glance. Templates like this one play a fundamental role in efficient project management in construction as they offer the necessary overview to make smart decisions with fresh data.

The image above is a department report created with an online data analysis tool, and it tracks the performance of a support team. This insightful report displays relevant metrics such as the top-performing agents, net promoter score, and first contact resolution rate, among others. Having this information in hand not only helps each team member to keep track of their individual progress but also allows managers to understand who needs more training and who is performing at their best.

A type of report that encompasses many others on this list, internal reports refer to any type of report that is used internally in a business. They convey information between team members and departments to keep communication flowing regarding goals and business objectives.

As mentioned above, internal reports are useful communication tools to keep every relevant person in the organization informed and engaged. This healthcare report aims to do just that. By providing insights into the performance of different departments and areas of a hospital, such as in and outpatients, average waiting times, treatment costs, and more, healthcare managers can allocate resources and plan the schedule accurately, as well as monitor any changes or issues in real-time.

Although most of the report types listed here are used for internal purposes, not all reporting is meant to be used behind closed doors. External reports are created to share information with external stakeholders such as clients or investors for budget or progress accountability, as well as for governmental bodies to stay compliant with the law requirements.

Next, in our rundown of types of reports, we have vertical and lateral reports. This reporting type refers to the direction in which a report travels. A vertical report is meant to go upward or downward the hierarchy, for example, a management report. A lateral report assists in organization and communication between groups that are at the same level of the hierarchy, such as the financial and marketing departments.

Projects are key to keeping a business moving in the right direction while keeping innovation and evolution at the forefront of every plan, communication, or campaign. But without the right management tools, a potentially groundbreaking project can become a resource-sapping disaster.

Work and budget development and cost breakdown charts can help develop efficient construction cost control strategies to ensure the project remains profitable and on schedule. On the other hand, progress metrics like the SPI and the CPI can help assess construction productivity issues that can lead to delays and costly overruns.

When it comes to submitting vital financial and non-financial information to official bodies, one small error can result in serious repercussions. As such, working with statutory report formats is a watertight way of keeping track of your affairs and records while significantly reducing the risk of human error.

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