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A report, generally made annually on the activities of a company. and signed by the chairman. It is normally given at the annual general meeting and included in the annual report, often accompanied by a photograph of the chairman radiating benevolence. It may contain tributes to staff, and generally discusses the results of the year and the prospects for the future. The tendency is to draw attention to success and away from failure, thus painting a picture of an organization emanating from El Dorado. It is not one of the documents that have, by law, to be issued by the company each year.
Reference: The Penguin Business Dictionary, 3rd edt.
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