Business Document Lersson Events.Mangement.docx

**EVENTS MANAGEMENT** **Business Documents** **What are business documents?** Business documents are files of various types that record various details regarding an organization\'s internal and external dealings. They\'re usually essential for a company\'s management, as they provide the informat...

**EVENTS MANAGEMENT** **Business Documents** **What are business documents?** Business documents are files of various types that record various details regarding an organization\'s internal and external dealings. They\'re usually essential for a company\'s management, as they provide the information needed to properly run it as well as details of various transactions with other parties. Depending on their format, business documents can have a physical form or a digital one. **Types of business Documentations** 1\. Contracts Companies often agree to collaborate with other parties, for reasons such as sales, purchases, licensing, or any other type of agreement. The exact details behind these collaborations are recorded with contracts that are signed by both parties and constitute an obligation for everyone involved to fulfill their agreed obligations. Contracts are legally binding and legally enforceable. 2\. Non-disclosure agreement These agreements are signed between an organization and various other parties, such as employees, business partners, contractors, and freelancers. Their purpose is to safeguard the company\'s essential information, such as details regarding various projects, client lists, financial records, or future strategies, by having the other parties agree not to disclose them. They can be crucial for an organization\'s well-being, as they can preserve its competitive advantages. 3\. Employment agreement This document is signed each time a company hires a new employee. It covers both the employee\'s duties and role within the company as well as the company\'s obligations toward the employee. They\'re essential in maintaining good relationships between organizations and their employees and can be used by both parties in a court of law to act as proof that the other party has failed to fulfill its obligations. 4\. Business plan The business plan is often the first document created by a business owner. It\'s a plan that outlines what the company aims to achieve, what the timelines for its objectives are and how to achieve them. Creating an effective business plan usually requires thorough research of the competition, target audience and the market. https://www.youtube.com/watch?v=iPdG7QlG9rM 5\. Financial documents Managing the budget is often a major part of ensuring an organization\'s long-term success. Financial records such as balance sheets, income statements, bank statements, receipt records and payroll reports help the organization\'s management keep track of all income and expenditures, ensuring the company\'s financial health. They\'re also used to create annual financial reports to analyze the organization\'s financial performance during that year. Eg. Purchase orders, invoices, receipts, **6. Company policy** A company policy document outlines all its policies regarding various subjects, such as health and safety, the conduct of its employees, the salary for each role, behavioral guidelines, disciplinary measures and any other rule or regulation internally set by the organization. Its main role is to act as a point of reference when employees require guidance on how to handle certain situations. It can also act as a quick way to resolve various internal disputes. **7. Business insurance** Business insurance is a way for companies to protect themselves against various risks. Some of the most common business risks are major business losses, natural disasters, catastrophes, accidents, and theft. A business insurance document is a file where the organization keeps different insurance policies that cover various risks. **HOMEWORK** **RESEARCH ON THE FOLLOWING BUSINESS DOCUMENTS AND PROVIDE A SAMPLE / COPY OF EACH.** Reports Memos Letters Press releases **Why are documentation Important?** Maintaining a system of organized, accurate and consistent documentation in the workplace is both necessary and beneficial. Making documentation a priority, especially when it comes to the company's human resources (HR) department, can help mitigate disputes, offer resources when they are needed and answer important questions about the company. We discuss why documentation is important and ways you might consider improving your documentation process. **Assignment/Project** You will work in teams to conduct research on different aspects of the knowledge requirement, utilizing a variety of research methods and media , including the internet. You will be required to locate samples of the range of documents/document frameworks and investigate general standards and procedures relating to their preparation, with special reference to the tourism and hospitality industry. You must include interviews with experts. You will share your findings, using different presentation methods and media, including Power point or other software. What your research should include: -industry/organizations quality standards/guidelines -document requirements/objectives -conducting research -procedure for developing document/report content -written presentation techniques, including graphics -methods and techniques for communicating ideas and concepts -timelines and professionalism in presenting documents