Overview with tools, template, software, best practices and alternatives
What is Reporting to the Executive Management?
The executive management, along with senior management team, is a group of individuals at the highest level of organization management. The team is responsible for managing a business company or corporation.
Reporting to executive management is a type of reporting procedure, in which the team or organization sends essential information and updates to the executive team. The executive management report usually contains information on the activities, performance, status, and progress of the team or the business.
Who does Reports for the Executive Management?
The members of the team or organization send reports to the executive management team to inform the latter the recent events that have transpired in the team within a specific time frame. Team leaders also generate reports and send them to the executive management to forward essential information coming from teams of different departments in the company.
Why do people do Reports for the Executive Management?
People report to the executive management to give information and updates on the overall standing and development of the team and the business project. The data in the report can be new or a follow-up to the earlier report of the team. This way, the team will be able to communicate to the team leaders the latest events that happened to the group and the business within a specific time frame.
With the data in the executive management report, the management team will be able to take note of important information about the team and the project, such as achievements, plans, and issues. This allows the executive management team to compare details from previous and recent reports, analyze data, make inference and conclusions, and make informed and rational decisions.
Generating reports to executive management is a practice of chain of command between the team leaders and executives or between team members and executives. Also, business affiliates can also produce and send an executive report to provide information on their profile.
How to do Reports for the Executive Management / Ways to do Reports for the Executive Management
Reports for the executive management enable the team to present important information on the undertakings, routines, standing, and development of the business team and the project.
In writing reports to the executive management, completeness and accuracy are essential keys. The team members should include complete and accurate major information on what happened in the group and the business within a specific time frame. Lack of detail and inaccuracies may lead to poor plans, strategies, and actions.
Another important thing to consider when making reports to executive management is the organization of data. This ensures that the entire report is understood by the executive management team, other team leaders, and other team members.
Key information to include in the executive management report encompasses the team’s achievements. Also, the team may include the team’s strengths, weaknesses, threats, and opportunities. Moreover, the team can also put information on the team’s plans, strategies, and actions.
In doing reports for the executive management team, the business team should also indicate the date of the report, along with the topics or issues covered in the report. This is to provide a timely overview to the executive team.
Advantages of doing Reports for the Executive Management
Reporting to executive management is advantageous to the executive management team for various reasons.
Communication is a primary benefit of doing an executive management report. This enables the team to inform the executive team what is happening in the business and the group, along with the overall status and progress of the business team. With strong communication means between teams and among team members, it will be easier for members to update team leaders with new or corrected information.
Achievements in the report help the team identify the team’s status and they also reflect the team’s capacities and competence. The team’s accomplishments also help the executive management team to develop marketing strategies that can attract multiple investors to the company. Also, the achievements of the team can inspire and motivate team members to do better.
The issues in the report can be actual or potential. Actual issues are the existing problems experienced by the business team while potential issues are things that can become problems in the long run. Team members and leaders can discuss possible ways to resolve actual issues and prevent potential issues from becoming problems.
Disadvantages of doing Reports for the Executive Management
Reporting to the executive management can be advantageous in a number of ways, but there are also instances in which it can be a disadvantage to the team.
Doing reports for the executive management can be both a tedious and time consuming task, as the reports have to be complete, detailed, and accurate. This can eat up the team’s time allocated to the regular duties and responsibilities, which can reduce team members’ productivity in doing their daily tasks.
Writing an executive management report can be costly to business team, such as the startup business teams. Startup business teams are teams working on a business it its early phase of development. With the team in a trial and error phase, the startup business team is in a phase in which it learns to adjusts to the demands of a growing business.
Executive management reports can be generated and then sent online to those who are set to receive it. Virtual teams have team members who are located in various parts of the globe. Along with various locale and time zones, virtual teams live with the power of the internet. Since reports facilitate communication, a halt in communication between the team and the executive team can happen if there is poor or absent internet access.
Best practices for doing Reports for the Executive Management
Doing reports to bosses allow team members, team leaders, and affiliates to become fully informed and updated on the status and updates of the team and the project.
In order to ensure that the report details are complete and accurate, team members may have their personal note book so they can note important details, which can be included to the report when they make one. This way, team members will not miss information, especially significant ones, in the report.
To ascertain that the details in the report are organized, team members can use headings and sub-headings as these can guide the readers, enabling them to follow the flow of the report. In addition, bullets can also be used to present information more effectively, instead of writing information using paragraphs, which may be boring or too overwhelming to read for some.
Data in the report can be qualitative or quantitative. Qualitative information can be written down in the report with paragraphs while quantitative information can be presented using tables, graphs, charts, and diagrams. This way, the executive management team can easily see relationships and trends in the figures presented by the business team.
Language is another factor in generating an executive report. The vocabulary used in writing the report should be fairly understood by the readers. Highly profound words should be reduced as they can hamper the team members’ comprehension of the report. In addition, jargons should also be limited as some readers may not be familiar with them.
How Teamreporter helps at doing Reports for the Executive Management
Teamreporter is a business tool that uses scheduled report mails to reduce the number of status meetings of the team. Signing up just takes up to less than a minute and teams with up to four members can use the application for free.
Teamreporter’s interface is automated and user-friendly, allowing team members to easily send and receive information and updates to and from other members of the team or business affiliates. Teamreporter sends team members e-mail notifications, asking them to send essential information, such as their plans, problems, and achievements. Based on their replies, Teamreporter will generate data summary, which will be sent the next day.
Team leaders can also benefit from Teamreporter, as they can have a great oversight of the team’s status and progress. In addition, team leaders will be able to identify members who perform well and those who need further assistance. Also, the leaders of the team may utilize data from Teamreporter when they make their reports, training modules, or team evaluations.
Alternatives to doing Reports for the Executive Management
While reports to executive management can be beneficial to the team, there are some options that the business team can consider.
The team can utilize e-mail status and updates to communicate information to the executive management. Team members can use the power of the internet to send and receive status updates to and from team leaders and other team members. With one click, the team can inform the executive management team important information on the status and updates of the team.
The business team can also integrate the use of applications in the reporting process. Some applications are user-friendly, allowing the team to easily report updates to the team members and leaders. Also, there are applications at which the settings can be changed, allowing them to use the application with any workflow and environment.
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