Thursday, July 01, 2021/04:50PM /Boris Dzhingarov / Header Image
Credit: Oxford Films
Businesses large and small will occasionally ask their employees to write a report on cost-effectiveness, how the company is faring and how it might save money. This can seem like a daunting process, but it doesn't need to be excessively difficult.
1. Identify a Niche
Cost-effectiveness comes in many forms, from cutting waste to decreasing the amount of water that a business uses. Unless you've been asked to write an all-encompassing report, it's best practice to identify a niche. It might be that you want to investigate the companies carbon footprint related to business travel or its use of central heating.
2. Run a Comparison
Most businesses are on energy and water tariffs that are ill-suited to their needs. Your first port of call is to run an energy comparison using a service like . This will give you an overview of the market and a starting point to make recommendations. You might find that the business can make large savings simply by switching providers or another tariff offers a more bespoke package.
3. Grade According to Importance
As you research your report, you will come across areas for improvement and offer advice on how best to make changes. These will range from the quite dramatic to the small. Grade them according to their importance and where the biggest savings can be made. That way, the person reading the report will be able to identify the areas most in need of intervention.
4. Discuss Costs Realistically
While it can be tempting to recommend changes wholeheartedly, always collect reasonable estimates and record them in the report. Seek out several costings and then take an average so that there won't be any surprises further along the line. Writing honestly at this point makes change more likely.
5. Balance Costs with Additional Savings
Always offer long-term savings alongside costs to present a realistic picture of how any changes might pay for themselves. This is often the most persuasive part of the report, and although long-term figures can be difficult to come by, it's important to make a ballpark estimate. Business owners will see any changes as potential investments, so this section is particularly useful.
6. Write Persuasively
7. Write a Conclusion
Conclude with a specific call to action that the person reading your report can follow up on. If youâ€™ve already made a number of costed suggestions, then the call to action can be as simple as outlining the next steps. Layout a brief summary of the changes and how they could help the business financially as well as socially. Finally, highlight any areas that you think are only touched upon in the scope of this report but could be expanded on in a separate study.
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