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Types and Values of Organizational Records

Records can be categorized into different types, each serving a unique function for organizations. External records come from outside sources like contracts, while internal records are generated within like memos. Transaction records document business deals, and reference records provide information for research. Administrative records are for daily operations. Legal and fiscal records ensure compliance. Historical and research records preserve the past and support new discoveries. Understanding the various types and value of records is key to effective management and high performance.

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584 views9 pages

Types and Values of Organizational Records

Records can be categorized into different types, each serving a unique function for organizations. External records come from outside sources like contracts, while internal records are generated within like memos. Transaction records document business deals, and reference records provide information for research. Administrative records are for daily operations. Legal and fiscal records ensure compliance. Historical and research records preserve the past and support new discoveries. Understanding the various types and value of records is key to effective management and high performance.

Uploaded by

Peace
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Types and Value of

Records
Records play a crucial role in the functioning of organizations, serving as a
repository of information required for various purposes. They can be categorized
into different types, each serving a unique function. Furthermore, the value of
records is inherently linked to their content and significance in supporting
organizational activities, decision-making, and compliance. Let's explore the
different types of records and their respective values in detail.

Fa
By Florence Mirembe
UTAMU – [email protected]
External and Internal Records
External Records Internal Records

These include documents originating from sources Internal records consist of documents generated
outside the organization, such as correspondence with within the organization, such as memos, financial
clients, contracts, and vendor agreements. reports, and employee records.
Transaction and Reference Records
Transaction Records Reference Records

These records document specific business Reference records contain information used for
transactions such as sales invoices, purchase orders, consultation or research, such as catalogs, directories,
and receipts. and manuals.
Administrative, Legal, and Fiscal Records
Administrative Records Legal Records Fiscal Records

These include policy documents, Legal records encompass These consist of financial
meeting minutes, and contracts, litigation documents, statements, tax returns, and
operational records essential for and patents crucial for legal invoices necessary for regulatory
daily activities and decision- compliance and protection of compliance and financial audits.
making. rights.

• Policy Documents • Contracts • Financial Statements


• Meeting Minutes • Litigation Documents • Tax Returns
Historical, Research, and Electronic Records
Historical Records Research Records Electronic Records

Historical records document the Research records are data, Electronic records encompass
evolution of an organization and reports, and findings from digital documents, emails,
may include archives, artifacts, academic or scientific studies databases, and multimedia files
and significant milestones. conducted by or relevant to the stored in electronic formats.
organization.
Value of Records
1 Vital Records 2 Important Records
Vital records are critical to the Important records are valuable for the
organization's continued operation, such organization's functions but may not be
as legal documents, inventories, and classified as critical for survival, such as
emergency plans. internal reports and project
documentation.
Useful and Non-Important Records
1 Useful Records 2 Non-Important Records
Useful records are beneficial for Non-important records are documents of
operations, such as training materials, minimal value or obsolete information,
procedural guides, and reference such as expired contracts and outdated
documents. manuals.
Other Records
1 Specialized Records
Specialized records may include industry-specific documents, proprietary data, and unique case files.
Therefore…
Understanding the diverse types and value of records is fundamental to effective record management and
organization. Each category of records plays a vital role in supporting various aspects of the organization's
functions, compliance, and historical documentation. By recognizing the significance of records, organizations can
enhance their operational efficiency, decision-making, and overall performance.

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