Records management in a business includes classifying, storing, securing and preserving or disposing of records. Photographs, emails and files are considered as records. Records are classified according to their business function. For example, a file may be classified "active" and be located in the progress report series. The series itself might be categorized as historical or fiscal.
Records management plays a vital role for organizations that produce many legal documents. It's important to the existence of a corporation that a library of legal files be kept. The legal process can be made more complex if records management is ignored. Legal documentation must be easily accessible if the corporation is involved in a case or if a legal crisis occurs.
From an administrative perspective, a records management program needs to identify, preserve and dispose of records in a logical and legal manner. In school systems, maintaining and filing records may include information supplied by instructors. This type of information includes typewritten or word-processed material. Also included are letters that have been sent to students and parents.
A company's market research, strategic plans and business plans are time-sensitive documents. How they are used depends on the organization's ongoing projects or goals. If a corporation is looking to penetrate a new market, it may rely on primary or secondary research. Either form of reference material can play a substantial role in a company's expansion efforts.