Improving efficiency in the preparation of management reports

The preparation of management reports is entwined with decision-making. Hence, management reporting is considered an integral part of business operation in any organization. The relevance of management reports or their capability to influence decisions is greatly affected by their timeliness. However, with the fast-evolving business environment, the information needed for decision-making has become wider and more complex. As such, the existing culture in the preparation of the related reports may no longer be appropriate to come up with a now more comprehensive report within the standard timeline. This was the issue my collaborators in the Policy Research Division and I have constructed during the conduct of this action research. With the help of the Six Sigma framework, the team determined the root cause of inefficiency and acted to address it accordingly. In the second cycle of our action research, we pursued further improvement in the process through teamwork following the Kaizen framework. This resulted in significant improvement in efficiency in the preparation of management report, which also promoted solidarity among the members of the team in the process. The outcome of this action research presented an approach which any organization may adopt to improve efficiency, not just in management reporting, but in other areas of operations as well. Through collaboration, an organization can address the root cause of existing issue, implement improvement initiative and reflect on the journey towards greater efficiency