This article compares management reporting with that of a relationship and provides valuable insights to assist you to derive more value from your management reporting.
Communication by management reporting
You are now undoubtedly wondering what a relationship and management reporting have in common. Quite a lot, actually! Management reporting can be used in your company as a tool for communicating a message to a large number of recipients aimed at encouraging action.
In communication through management reports, just as much can go wrong as in a conversation between partners – people talk at cross purposes, words are not followed by action, key topics are not addressed or people simply don’t formulate what they are trying to say in a comprehensible manner.
If you correctly use management reporting as a communication tool, you can exercise considerable influence over the management and success of your company.
Reporting is a vital instrument for measuring the degree of target achievement and gives important indications about how your business strategy should be implemented. It is crucial that you use your reporting as a means of communication effectively and efficiently.
However, if you have the impression that your management reporting is unable to meet the complex need for information in your company, then – like in a relationship – it is high time to talk.
If you have any questions or require a more detailed discussion on your organisation’s management reporting requirmments, contact Carryn Tennent at email@example.com