A management report is a document that compiles a set of data that have been made over a period of time in a company. It will be useful for you to learn about specific issues of your company, such as finances, its structural capacity, new business opportunities, and of course, continuous improvement!
But, do you know how to make a management report? Commanding a business is a great challenge, but it is far from being an impossible mission. After all, there are techniques, resources and strategies that help the entrepreneur to achieve success.
Managing finances, employees, inventory, marketing and sales strategies are some of the many responsibilities of a leader. It may seem like a lot of work, but the management report can make everything easier and safer.
The premise is simple, however, some managers do not know how to write a good management report. If you are one of these professionals, do not worry. We prepare a step by step with everything you need to do. Look how interesting!
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What is the importance of the management report?
Even with the unstable economy, Latin Americans are persistent in entrepreneurship. In 2018, the number of people between 18 and 64 years old who were linked to some business activity or planned to open their own increased.
In countries like Chile, Colombia, Mexico, Puerto Rico, the number of people who are in charge of a business from the most varied segments of entrepreneurship has increased considerably. Meanwhile, putting fear aside and betting on this dream is just the first step. It is necessary to be strategic and work hard to achieve maximum performance.
In this context, the management report serves as an essential instrument for the operation of any enterprise. This allows a more precise view of the business situation and helps to make safer and more assertive decisions.
Through the report, it is possible to observe the results achieved and rethink the actions that are not working. This is because it presents the particularities of the business and its performance during the evaluated period.
6 elements to make an incredible management report
You have already understood the importance of this document, but to learn how to make a complete and effective management report, it is necessary to better understand the elements that cannot be missing from its structure.
In this way, the objective of this post is to clarify any doubts on the subject and not face problems with this task in your daily routine, we are going to start with the basics. So check out the 6 must-haves for a good report below!
1. Title
The management report is nothing more and nothing less than a document that serves to measure the performance and help make decisions. Therefore, it is important that you have a title.
So, since there are reports for various sectors and purposes, the title will help you identify the topic quickly and efficiently.
2. Contextualization
Contextualization is another essential element that also allows the recipient — you or another employee — to understand what will be analyzed in the following pages.
That text needs to be brief and objective, serving as an introduction to the metrics, statistics and results that will be presented.
3. Objectives
Every management report is produced for a reason. Therefore, do not forget to set the objectives of the document and focus on what is really important and useful for your business.
The report must be an easy instrument to analyze and have a very clear objective. For this reason, even before starting the process, carefully choose the information that you will present so that it is consistent with your objective.
4. Summary
The summary is a text for quick reading and must contain the most relevant data of the report. Thus, you avoid the manager having to read it in its entirety every time when he needs to make a decision.
A well-crafted synopsis optimizes your time and contributes to faster and safer decisions. After all, the information is presented in a more objective way, as in a .
5. Results
Finally, an area for the presentation of results cannot be missing from your management report.
In this item, we must place all the relevant observations that were made, as well as the statistics, tables, graphs and performance metrics observed.
6. Conclusion
The conclusion is the outcome of your report and it has to show your findings — which will be based on the data presented throughout the document.
You must realize that these are not personal opinions. With the support of , the conclusion is verified with real and updated information already collected. And this is why it is so valuable for business management.
How to make a management report?
Many managers find management reporting a real challenge. The truth is that this document has always been part of the administration of a business, but it is gaining more and more space in recent years.
In view of this, we have prepared a complete step by step so that you have in your hands a useful instrument capable of helping you earn more money, correct failures and take advantage of market opportunities. Follow us!
Step 1: Plan before you start
Planning is the best way to produce a complete and competent document to benefit your business. Otherwise, you could waste time preparing an incomplete report or with irrelevant data.
Before anything else, define the objectives and identify how the information presented will help your business grow. For this, start by answering the questions below.
- For whom will the report be made?
- What is the purpose of the report?
- What information will be collected?
- How can data help in decision making?
Step 2: Bet on automated tools
Efficiency in business management is a goal common to every entrepreneur. So how about investing in automation to create your management report?
For that, there are technologies that simplify the task, optimize your time and also guarantee a much more satisfactory result.
Our first suggestion is a data visualization tool capable of transforming information into beautiful, intuitive and easy-to-understand management reports.
The second suggestion is . A platform that helps manage projects and monitor results much more easily. Its functions include integration with other management software, data analysis and report production.
Finally, do not stop investing in tools. They are essential for quick and safe decision making. The best systems collect the data and organize, classify and analyze it, making your work easier.
Step 3: Use clear and objective language
If it seems to you that a management report needs to have specific terms and complex language, it’s time to put that practice aside.
Ideally, the document should be easy to read and interpret. Therefore, try to be clear and bet on a light language and include only what is essential.
Don’t be too picky, and remember that a manager’s busy routine demands further reading and quick decisions. The easier the report is to interpret, the more useful and important it is to the business.
Step 4: Tell a story so that the reader feels part of it
In general, the management report is made up of a lot of data and information. That is precisely why many managers consider it a difficult document to prepare and understand.
However, it is necessary to make it clear that everything depends on the strategy during its drafting. For the content to be attractive and not to discourage the reader, it is interesting to contextualize the facts with .
In this way, you will be able to combine exposition and description of the situation analyzed in a light and meaningful way. This allows the results to be understood, causing involvement during their reading.
Step 5: Define the metrics and KPIs that will be used
Do you have the habit of using and KPI to manage your business? If this is not yet part of your strategies, it is interesting to evaluate that technique.
Actually, the are the most important metrics for your business. Normally, they are connected to your main goals and, therefore, they end up directing the preparation of management reports well.
Therefore, choose which metrics you will use, collecting the data and a selection of the information. After all, not everything needs to be included in the document.
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Step 6: Establish a point of comparison
When we want to evaluate the performance of strategies, sectors, or employees, it is essential to establish a point of comparison.
Therefore, this should be your next step. Choose the period in which the data will be collected and analyzed and define goals or targets to draw parallels.
In the case of using tables, mount columns in such a way that it is easy to visualize the comparison. You can, for example, place a column with the goals and another with the results achieved. This facilitates the understanding of the conclusion that will be presented at the end of the document.
Step 7: Include visual elements in the document
As we already mentioned, the management report must be clear and easy to interpret. A good strategy is to bet on visual elements.
Tired and full of obligations routines demand dynamic tools and actions. Delivering a document with hundreds of pages is not productive at all, but the use of graphics, mental maps and even during the presentation can improve the understanding of the information.
Step 8: Do a final review
After everything is ready, it’s time to do a thorough final check. In this phase, you need to make an effort so that the final text does not contain misspellings, incompatible data or false information.
Remember that this will give credibility to the document and ensure that it is really useful. That is to say, that it fulfills its role, of.
Ready to present a management report?
Did you learn to make a management report? After reading this post, you must have come to the conclusion that this is not an impossible task.
This document is essential to the operation of any business, and producing it is easier than it seems. Therefore, do not waste any more time and follow our suggestions!
But first, how about learning a little more? !
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