Term Paper on "Company Report Assessment & Review"

Term Paper 4 pages (1351 words) Sources: 1+

[EXCERPT] . . . .

Company Report

http://media.corporate-ir.net/media_files/NYS/IP/reports/ip_ar03.pdf

http://investor.*****/ireye/ir_site.zhtml?ticker=IP&script=2100

Choose words precisely

International Paper's company report does not contain, as far as I have noticed, any word used inappropriately. Their significance is precise and almost always denotative. However, sometimes the choice of words has negative connotations. For instance, when referring to legal claims, the report goes as follows: "In connection with the products involved in the lawsuits described above, where there is damage, the process of degradation, once begun, continues until repairs are made." A positive approach would have pointed, for example, that the process of degradation stops once the repairs are made. It seems that the writers of the report haven't thought a great deal about the way investors and other interested parties perceive this report.

2. Use shorter rather than longer words

Although a company report should be presented in an official manner, it is important to keep in mind that such a report is usually addressed to all kinds of investors, who may not be as literate as the writer. Since the main task of a company report is to convey clarity regarding the financial data for the previous year, it is advisable to use more precise words. International Paper's company report begins with the statements of its CEO, John Faraci. Here is a sample of the words Mr. Faraci chooses to use in the report: "Each of these accomplishments greatly improved our operations and our relationships with customers, and gives us a very strong foundation for the future... In terms of continuity, we remain absolutely committed to our target of achieving a 9% return on investment." It is clear that such words could have been replaced by shorter, clearer words. Perhaps the intention of the writers of the report was to transmit the importance of this document.

3. Use concrete rather than abstract words

International Paper's report is filled with abstract words, and it seems that half of the 100-page report is actually useless, since the information transmitted may have been put down on half that paper. Here is an example of the level of abstraction present in the report: "During 2003, International Paper continued to focus on managing the factors it can control, and further strengthened its core businesses through a rationalization and realignment program." Words like "factors," "strengthened," "rationalization" and "realignment" manage to create confusion at best and irritation at worst. A better strategy would have been to avoid such abstract notions and concentrate and a more "down to earth" approach. For instance, the following phrase would have been enough to get the message through: "In July 2003, we announced a program targeting significant additional reductions in overhead costs by late 2004, including the elimination of approximately 3,000 salaried positions in the United States. "

4. Economize on words used

This principle has a strong connection to the one above. However, although there are many useless words sprayed around the report, it must be noted that there are also cases when the writers have presented the problems they were facing in a concise manner. For instance, Chairman J. Faraci talks about his intentions in the following way, using short, precise, necessary words: "We will also continue our intense focus on improving the performance of each of our three core businesses and our company in total. We've made progress in this area, but it's clear we've got to improve what we do every day, every place in the company. Although there are cases when words are spared, the size of the report should speak on its own about the economy the writers of the report thought of making. Significant progress can be achieved in this direction.

5. Avoid cliches and jargon

As far as cliches and jargon are concerned, the writers of the report have tried not to make it to difficult to read. For instance, the phrase "we remain absolutely committed to our target of achieving a 9% return on investment (ROI)" transmits an additional information to the reader about how the name of this financial ratio is abbreviated. Although a financial… READ MORE

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