Overview with tools, template, software, best practices and alternatives
What is Reporting to the Company Owner?
Reporting to company owner is the process of providing information and updates to the titleholder of a company. This is to inform the company owner on the status and progress of the organization, the team, and the business.
Who does Reporting to the Company Owner?
Team members and team leaders are the ones who usually generate reports to company owners to ensure that the proprietors are fully informed about the events that happen in the company, including the standing and development of the team and the business itself. However, the team leaders are more delegated to perform the task due to the concept of chain of command.
Why do people do Reporting to the Company Owner?
Business teams do execute reporting to company owners in the following reasons.
First, team members and team leaders do reports to company owners for communication. They will be able to communicate important information, such as achievements, problems, and plans, to these lead businessmen.
With the data from doing reports to the company owners, the members and leaders of the team, along with the proprietors, will be able to compare and contrast information from previous reports, make strong inferences and conclusions, and make logical decisions.
In addition, the company leaders will be able to identify the strengths, weaknesses, opportunities, and threats to the organization and the business.
How to do Reporting to the Company Owner / Ways to do Reporting to the Company Owner
Reporting to company owners involves providing important information on the undertakings, routines, standing, and development of the management team and the project itself.
In doing reports to company owners, it is important to utilize factual, accurate, complete, and updated information. This is to keep the proprietors, as well as the team members and leaders, informed and aware of the happenings in the team, organization, and business.
Also, the team has to include important information, which will highly impact the future of the team. These pieces of information include the team’s strengths, weaknesses, threats, goals, strategies, actions, and outcome evaluation.
Advantages of doing Reporting to the Company Owner
Reporting to company owners is advantageous to the business team for the following reasons.
By reporting information to the business proprietors, the team will be able to give them the most recent information on the standing and development of the organization and the business itself. This action helps company owners to adjust their future plans, strategies, and actions.
The report also allows the members, leaders, and company owners to identify the trends in the company, which can either be a rising trend or a falling trend. Increasing trends signify high performance of the company, which can attract potential business partners or affiliates.
Disadvantages of doing Reporting to the Company Owner
While business reporting can be advantageous in a number of ways, there are also times in which it can be a disadvantage to the business team.
Online reporting to company owners utilizes the power of the internet, which allows team members and leaders to send and receive important information to and from other members of the team. While the internet serves as an easy and fast method to disseminate information to the team and business affiliates, poor and absent internet connection disables the team from providing information to the members of the team.
Reporting to company owners in paper form can be costly to some business teams, such as the start-up teams or businesses. These teams are in their early phase of development that they do not have adequate funds yet to financial all activities of the group. Reporting to company owners in black and white require printing costs, which adds to the expenses of the team.
Best Practices for doing Reporting to the Company Owner
Reporting to company owners helps the business proprietors, along with the team members, team leaders, and affiliates to become completely knowledgeable, updated, and mindful on the status and progress of the team and the project.
In order to maintain the completeness, accuracy, and factuality of the data in the report, the team may consider writing significant details on a notebook, so that they will not be able to forget to include such information in the report.
To preserve organization of information in the report to company owners, the team may use headings and sub-headings. These enable the readers to be guided accordingly in the report. In addition, using bullets in presenting information allows the readers to locate salient points in the report, allowing them to assimilate information more easily.
To convey information more effectively, the members and leaders of the team should also utilize a kind of language that can be understood by all members of the organization. As much as possible, the use of jargons and acronyms should be avoided, as not all members of the team are familiar with those.
In addition to these elements, reporting to company owners may involve the presentation of quantitative information. Unlike qualitative or descriptive data, quantitative information can be presented using tools, such as tables, graphs, charts, and diagrams, as these facilitate more effective data presentation.
How Teamreporter helps at doing Reporting to the Company Owner
Teamreporter is an application that uses scheduled report mails that aim to reduce the number of status meetings of the team. It can be used free of charge by small teams with up to four members. Team members can also sign up for an account in less than one minute.
Team leaders will be able to use Teamreporter in sending important data to the other members of the team and company owners. Teamreporter will send e-mail notifications to the members of the team, asking them to send important information like accomplishments, problems, and issues. Based on their answers, Teamreporter will generate a data summary, which will be sent to the team the next day.
The leaders of the team can also use Teamreporter’s data in evaluating teams and members, in addition to using the information in the report in making their training modules.
Teamreporter is flexible as team members can modify the questions as well as the schedule of the mail reports in the application’s interface. In addition, the application users can also change the list of members who need to send reports and those who are set to receive the reports. Moreover, Teamreporter can be used via e-mail and web browser, along with other existing applications that are used by the team.
Overall, Teamreporter’s automated and user-friendly interface is a promising asset to the team, which helps them, hit their goals and be successful.
Alternatives to Reporting to the Company Owner
While reporting to company owners can be helpful to the business team, there are other options that the business team can take into account when doing business reports.
E-mail status and updates serve as an alternative to paper-based reporting to company owners. These methods are capable of providing information and updates to business proprietor in a quick and easy way. With the power of a stable internet connection, team leaders and members will be able to send and receive information to the other members of the team. However, poor and absent internet connection disables the team from sending reports.
Teams can also consider conducting status meetings in reporting to company owners. The team leaders and the team may arrange a meeting with the business proprietors to talk about remarkable information, such as the team team’s achievements, problems, and plans. In addition, status meetings are quick, allowing team members and leaders to immediately identify important concerns.
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