Information Technology for Business

 The Important Information technology for Business

Nowadays technology be increasingly evolve, and also along with evolve of the times. There are two types of technology such as information technology and communication technology. Kind of information technology as television, radio, Cash register, computer, newspaper, etc. and kinds for communication technology as telephone, cell phone, internet, etc. We can discus about Information technology for business. Information technology will be related with business because influence for a success of business.

The important technology for business such as:

     1.   Communication

Rapid communications can help increase productivity, allow for better business decision-making and ease a company’s expansion into new territories or countries. Email servers, routers, internal company billboards and chat services can serve as the backbone of a company’s communications. These electronically based communication systems are used to disseminate routine and critical business information in a quick and efficient manner. IT equipment can be used to send business status reports to executives, to update employees on critical business projects and to connect with business partners and customers.

     2.   Efficiency

Streamlined work flow systems, shared storage and collaborative work spaces can increase efficiency in a business and allow employees to process a greater level of work in a shorter period of time. Information technology systems can be used to automate routine tasks, to make data analysis easier and to store data in a manner that can easily be retrieved for future use. Technology can also be used to answer customer questions through email, in a real-time chat session or through a telephone routing system that connects a customer to an available customer service agent.

     3.   Competitive Advantage

Adoption of information technology resources allows companies to maintain a competitive advantage over their rivals. Companies using a first-movers strategy can use information technology to create new products, distance their products from the existing market or enhance their customer services. Companies that follow a low-cost product strategy can look to information technology solutions to reduce their costs through increased productivity and reduced need for employee overhead. Businesses can also build-in information technology to their products that makes it difficult for customers to switch platforms or products.

     4.   Economic Efficiencies

Companies can harness information technology resources to lower their costs. Using IT infrastructure, redundant tasks can be centralized at one location. For example, a large company could centralize their payroll function at one location to lower employee costs. Economic efficiencies can also be realized by migrating high-cost functions into an online environment. Companies can offer email support for customers that may have a lower cost than a live customer support call. Cost savings could also be found through outsourcing opportunities, remote work options and lower-cost communication options.

What is Business Report?

A business report may be defined as an organized statement of facts or events or any situation relating to business or commercial interests prepared after an investigation and presented to the interested persons with or without recommendations. It facilitates the evaluation of progress and decision making process for business purpose. A business report is usually a type of upward communication in which communication process starts from lower level to upper level i.e. An employee makes a report and submits to related upper person to make usage of it. Such communication is basically authoritative and the level of authority depends on the subject and usage of a business report.

Benefit of Business Report

      1.   Report gives consolidated & updated information

A report provides consolidated, factual and an up-to-date information about a particular matter or subject. Information in the report is well organized and can be used for future planning and decisions making.

     2.   Report as a means of internal communication

A report acts as an effective means of communication within the organization. It provides feedback to employees. It is prepared for the information and guidance of others connected with the matter / problem.

     3.   Report facilitates decision making and planning

Report provide reliable data which can be used in the planning and decision making process. It acts as a treasure house of reliable information for long term planning and decision making.

     4.   Report discloses unknown information

Reports provide information, which may not be known previously. The committee members collect data, draw conclusions and provide information which will be new to all concerned parties. Even new business opportunities are visible through unknown information available in the reports.

     5.   Report gives Information to employees

Reports are available to managers and departments for internal use. They are widely used by the departments for guidance. Report provide a feedback to employees and are useful for their self-improvement.

     6.   Report gives reliable permanent information

The information provided by a report is a permanent addition to the information available to the office. We have census reports (prepared since last 100 years) which are used even today for reference purpose.

     7.   Report facilitates framing of personnel policies

Certain reports relating to employees are useful while preparing personnel policies such as promotion policy, training policy and welfare facilities to employees.

     8.   Report gives information to shareholders

Some company reports are prepared every year for the benefit of shareholders. Annual report for example, is prepared and sent to all shareholders before the AGM. It gives information about the progress of the company.

     9.   Report gives information to the Registrar

Annual report and annual accounts are sent to the Registrar every year for information. Such reports enable the government to keep supervision on the companies.

10. Report solves current problems

Reports are useful to managers while dealing with current problems faced by the company. They provide guidance while dealing with complicated problems.

11. Report helps directors to take prompt decisions

Company reports relate to internal working of the company and are extremely useful to directors in decision making and policy framing. Reports give reliable, updated and useful information in a compact form.

Types of Business Report

§        Analytical Reports

These types of business reports include information along with analysis or interpretation from the report's writer or in response to the person who requested the report. A business uses analytical reports to make a decision or to work out a problem. Examples of analytical reports include a progress report detailing what has occurred and the writer’s analysis of it, or a sales report requested by the business owner as to why sales are falling in one location and not another.

§       Informational Reports

Informational reports contain information only and no commentary from the writer. This type of report includes data, facts and results about a specific subject in detail without any explanation or suggestions. This might be an informal report, such as a “minutes of meetings” report that contains actions and dialog of a meeting. It might be a report on applicants for a new position requested by a company president, which might include names, experience, work record and other details pertinent to the job.

§        Recommendation and Research Reports

A recommendation and research report includes information, the writer’s examination of the information and the suitable action or actions the writer advises. These reports are based on research performed by a person or group in regard to a specific problem or subject. A common recommendation report is policy directives. These reports detail the topic or problem using figures and significant facts, suggest various options and include detailed explanations of why one option is better than another option.

Requirements a good business report

     1.   Accuracy

Make sure that the correct information is conveyed, both in the grammatical and technical sense.

      2.   Brevity

Ensure that the content of the report or proposal has been condensed efficiently. The use of bullet points and lists need to be considered in this instance.

      3.   Clarity

This refers to the clearness of structure e.g. the use of numbering. When using headings and sub-headings, ensure that the same pattern is followed throughout the report or proposal.

     4.   Design

The look and feel of the report or proposal plays a pivotal role in influencing the reader. Consider using colour and fonts that are suited to the professional context.

Page layout and line spacing are also important. Too much information can agitate the reader.

     5.   Emphasis

This is closely associated with the purpose of the report or proposal. At the end of the report, the question that needs to be answered is, "Have I achieved the purpose of this report/proposal?

Source:

http://smallbusiness.chron.com/business-benefits-information-technology-4021.html

http://bconsi.blogspot.co.id/2013/06/definition-of-business-report.html

http://kalyan-city.blogspot.co.id/2010/11/what-are-advantages-of-report-or-report.html

http://yourbusiness.azcentral.com/types-business-reports-4434.html

https://www.skillsportal.co.za/content/secrets-writing-good-business-report