Business Studies Query - quick help needed! (1 Viewer)

[lyounamu]

What's the difference between business report and business plan? I remember someone explaining this to me but I really didn't get the meaning back then...

And please tell me the detailed formats of each...

Thanks in advance!!!

 

[moshizzle]

well they both have completely different purposes. the only time you'll be asked to write a business plan is for an assignment of some sort - it takes a while to complete. a business plan is proposing a plan for a business. it consists of; executive summary, creating a name, listing prime functions, legal structure, situational analysis, mission statement and objectives, product/service provided, staffing requirements, marketing analysis, financial forecasts.. yes, quite a lot to do these are just the subheadings, and you have to be able to expand on each. all this is done in a report-format: so under subheadings. since there are many elements, a business plan can be very brief. but still, it should take about 15 pages: excluding financials!

but a business report is usually part of the extended response in an exam. you'll be given a topic or statement, and in reply you are to present your answers in report-format. subheadings are vital, and you should be able to explain in detail, also in relation to a case-study. the format is usually:
1. executive summary
2. depending on question, write headings and use body paragraphs, while incorporating a case study.
3. suggestions/your opinion (once again depending on question posed)
4. conclusion
usually business reports are 4 pages. depends how fast you can write under exam conditions :mad1:

hope this helps!

 

[lyounamu]

well they both have completely different purposes. the only time you'll be asked to write a business plan is for an assignment of some sort - it takes a while to complete. a business plan is proposing a plan for a business. it consists of; executive summary, creating a name, listing prime functions, legal structure, situational analysis, mission statement and objectives, product/service provided, staffing requirements, marketing analysis, financial forecasts.. yes, quite a lot to do these are just the subheadings, and you have to be able to expand on each. all this is done in a report-format: so under subheadings. since there are many elements, a business plan can be very brief. but still, it should take about 15 pages: excluding financials!

but a business report is usually part of the extended response in an exam. you'll be given a topic or statement, and in reply you are to present your answers in report-format. subheadings are vital, and you should be able to explain in detail, also in relation to a case-study. the format is usually:
1. executive summary
2. depending on question, write headings and use body paragraphs, while incorporating a case study.
3. suggestions/your opinion (once again depending on question posed)
4. conclusion
usually business reports are 4 pages. depends how fast you can write under exam conditions :mad1:

hope this helps!

Spot-on answer! Thanks!

 

[d3vilz]

plan = hypothetical situation used. very long and needs to be in detail.

report = shorter/simplified/summarised version of a 'plan', but you may need to refer to the q with a case study and have some sort of evaluation.

 

[lyounamu]

Can anyone post a really detailed format of the business report? Thanks in advance~

 

[d3vilz]

ripped from the wiki:

What Format should I use for a Business Report?
Executive Summary

• Your executive summary should summarise the other sections of your plan. It should include key financial numbers from your plan, as well as brief summaries of other important sections.
• Conclude the executive summary with the purpose of report and ensure it links to the question.
• Remember, it's not an index, but a list of key points and findings that are found in the report. This is so the reader has a general overview of what's involved in the whole report.
• A lot of people find writing the executive summary last is the easiest way to do it.

Body

• Use headings and subheadings. Get these headings from your question, as they change from question to question. There are no set headings you must use for this.
• You can use dot points.
• Use diagrams tables and graphs where necessary.
• Use business terminology.
• Be clear and concise.

Recommendations/Key Findings

• Discuss the key findings and make recommendations.

Conclusion

• Sum it up. Don't forget to relate back to the original question!

 

[lyounamu]

Thanks! Greatly appreciated!!!