The decision to administer a mid-year business review can make or break the path of your company, as it can significantly improve your chance to achieve financial goals, according to the Wharton School of Business. Our Mid-Year Business Review deck covers every aspect of a business and allows you to monitor performance, find solutions to increase revenue and ensure the direction for the leadership.
A mid-year business review ensures the direction for the leadership of a company by providing a comprehensive analysis of the company's performance in the first half of the year. It allows the leadership to monitor performance, identify areas of improvement, and find solutions to increase revenue. This review can significantly improve the company's chance to achieve its financial goals. It also helps in aligning the company's strategies with its objectives, ensuring that the company is on the right path towards achieving its goals.
A mid-year business review can be instrumental in monitoring performance and finding solutions to increase revenue. It provides an opportunity to assess the first half of the year, identify areas of success and areas needing improvement. It allows businesses to adjust their strategies based on the review's findings, which could include new ways to increase revenue. It also ensures that the company is on track to meet its financial goals for the year.
With this slide, go over your company's key achievements and milestones. This will help you demonstrate the progress you venture's made in the past six months and recognize the teams or individual team members and express your gratitude.
The state of the company's financial health and revenues is by far the most important part of your mid-year business report. Populate slides, such as this one, to inform your stakeholders about your company's financial performance.
Use this slide to discuss the venture'sprofit and loss Key performance Indicators (KPIs). These may include net sales, employee benefits expenses, profit after tax and any other expenses or profits relevant to your company.
Application
Employment-related search engine, Indeed, offers this comprehensive guide for writing a business report:
Plan before you write – treat your business report as any other project. Make an outline for what exactly you want to achieve, before you compile research and write down the report sections.
Check for an in-house format – see if your company already has an established format for business reports. You can find this information in the company handbook or by asking around. "Using an established format will help your report look more professional," the experts say.
Add a title – make sure the title is clear and visible at the beginning of the report. Also, mention the names of everyone who contributed to the report.
Add a table of contents – the table of contents is especially important for a report that is complex. This page comes at the start of the report, but should be written last. The experts say: "Write down the section headings exactly as they appear in each section of the report and make sure the page numbers match too."
Add a summary or abstract – the summary section is not mandatory, but it can be beneficial for the audience. A summary should be written last and inform the audience about your findings and notes from your conclusion and recommendations.
Write an introduction – here, detail the reason for writing the report. Your introduction should address the purpose of the report and background information on the subject of it.
Outline your methodology – this section should explain the research methods used, such as qualitative,quantitative method or a hybrid of both.
Present your findings – your results should be presented logically and concisely and offer enough evidence to prove that you have researched the matter thoroughly.
Add a conclusion and recommendations – cover the assessment from the findings and go over recommendations for action. If goals are added, they should be accompanied by measurable actions. Goals and methods recommended must tell your stakeholders what effect they will have on the organization as a whole.
Add a bibliography and appendices – make sure to cite any outside sources used, such as periodicals, online articles or books.
Proofread – when the report is completed, proofread it to make sure it's free of any inaccuracies and grammatical errors. Be clear and concise when writing and avoid complex words and slang. It is acceptable to use jargon and technical terms appropriate to your industry, however, don't overuse them. (Editor's note: as an example of effective business writing, consider reading Berkshire Hathaway or Jeff Bezos letters to shareholders).
Expert advice
Wharton School of Business publication, Wharton Magazine, claims that conducting a mid-year business review makes updating your business plan easier. Wharton Magazine offers the following tips for a quality mid-year business review:
Plan and prepare your report ahead of the mid-year business review meeting.
Create and show your written agenda to your team.
Allow sufficient time to complete the review.
State the type of meeting, protocol and expectations of the review.
Discuss financial matters last.
Meet your team where they are, as opposed to where you want them to be.
Discuss first the successes and accomplishments to fertilize minds on necessary areas of improvement.
Complete quality control checks for communications with key players and organizations.
