Advantages of reporting to management
The following advantages are available through reporting to management system.
1. It helps the management to understand functional areas of an organization.
2. It is used as a tool to identify the areas of weaknesses and any untoward or unusual occurrences.
3. The performance of employees is regulated and controlled.
4. The management can devote more time on policy formulation and future development.
5. The future course of action is taken with great care.
6. Responsibility is fixed on an individual and in total very clearly.
7. It helps the management to prepare the budget according to the ground reality of the business conditions.
8. Report provides a basis for deciding operating policy, volume of sales or production, stock policy, quality production, product design etc.
9. It helps the management to maintain the operational efficiency of all the employees and the business in general.
10. The management can find the reasons for poor performance and takes corrective actions for avoiding such happenings in the future.