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To better understand the variety of issues management must tackle, this article will take a brief look at the various management reports that a typical corporation will utilize. Every corporation is different and each management team will focus on the management report that impacts their bottom line the most, but for the most part management teams rely on a similar set of management reports to manage their business. Financial Management Report The financial status of a company usually reflects the health of the business. The financial management report includes information covering the revenues and expenses of the whole corporation. Dissecting this financial information can help management teams understand whether their company is profitable, unprofitable, or perhaps growing at the expense of the bottom line. Operations Management Report For a company centered around manufacturing, operations plays a key part in the overall success of the company. Operations reports can help managers and executives understand the key expenses that make or break or their business. Having a detailed operations report can assist the management team in drilling down to the levels of operations that have the most impact on the bottom line of the company. Risk Management Report Certain industries are inherently riskier than others. A good risk management team can help a company diversify away some of these risks and ensure the health of the business through good times and bad. The top level management team values a good detailed risk management report because it helps them understand the potential consequences of their decisions and mitigate the risks they take. Research & Development Management Report For those companies built on innovation and creativity understanding what is coming down the pipeline is critical to their success. An R&D management report usually provides the management team with a product map and in depth details of the new product, helping them get a feel for the strength of the new product and when they can take it to the market. Human Capital Management Report Many companies have come to understand the value of their employees. Often times the skills and abilities their employees possess are just as important as the processes management has implemented. The human capital report can help management keep an eye on the progress and value the employees are adding to the company. It can also help them identify weak areas within the company, which can then be filled with stronger external candidates that can bring immediate expertise and value to the business. To make the most of these management reports you might consider making use of a management dashboard. A management dashboard can be used to integrate the information and data contained in the various reports. The top management team can then turn to the management dashboard as their one-stop location to view and analyze the vital signs of the corporation.
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