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CORPORATE REPORTS: THOUGHTS ON SUBSTANCE AND FORM

  1. In corporate practice, reports are prepared and delivered at almost all the levels of governance. For example, in the airline business, the aircraft engineer’s report on the serviceability of the aircraft will be used to inform whether or not a particular aircraft will be able to safely take to the skies and land at its destination.
    It then becomes imperative that an organization possesses effective and efficient reporting systems and structures to enable equally effective and efficient decision making. Imagine the aircraft engineer’s report I referred to above, being made available after the fact of take off, and then there is an unfortunate incident which could have been avoided had proper procedures of reporting been followed?

    Having experienced a number of reporting practices, I have come to the conclusion that it is important for us to consider a few things as we embark on our respective reporting activities;

    Purpose
    Is it for information, for decision, for guidance, for approval, for ratification?

    2. Audience
    Who are you speaking to in your report? Colleagues in your profession, a multidisciplinary group, Management, Board, regulator, investors, shareowners?

    3. Time allocation
    How much time do you have to deliver your report ?

    4. Salience
    Have you outlined the salient points in your report and clearly indicated your “ask” to your audience

    5. Integrity and relevance
    Is your report on authority? Have you provided facts, analyses, methodology and arguments from credible sources? Is your content relevant to your purpose of reporting?

    6. Delivery style
    How will you deliver your report? Will you just confuse your audience after hearing from you or are you going to give clarity to your submission so that you can receive an informed decision?

    I am sure there are many other questions you could ask yourself as you prepare and deliver reports.

    In corporate practice, mastering the art of reporting is critical.
    I am mindful that in our respective professions, there are certain recommended or even set standards for reporting.
    I have found that in addition to that, it is important that as much as you possibly can, tailor your reports to the needs and operations of the organization. Whereas, you could write a whole book about a subject matter, when it is an issue that requires your expertise in the organization, I am not sure if the decision makers will have the patience for you to write the book because they simply want to know what it is, implications and interventions if any…in the most cost effective and efficient manner.

    I propose that reflection on the issues highlighted above can assist us in discharging our reporting duties.