Autum Martin 08-26-22 OST-184-I1 1. The three reasons that businesses need records are because records serve as the memory for a company or the individual that is over the records for the company. Records help companies with their day-to-day operations and may help with finances. Records really keep a business running because without them there would be no data and information to go by. 2. From a personal standpoint, Records are important and necessary for things like jobs, things that are health related. Records may be used in times of crisis or even just as a form of identification. 3. A record as defined by ARMA as stored information, no matter the media, made by an organization, provides evidence, has value requiring its retention for a specific period. 4. The following are the four record types and the information they hold. -internal document- They contain information for the operation of an organization -external document- contains information to use on the outside of an organization - transaction document- used in an organization's day-to-day operations -Reference- Contains information needed for long-term operations 5.The four categories used to classify the values of a record are: Vital Records- Titles of property, legal papers, reports to shareholders Important Records- personnel records, sales records, contracts Useful Records- General e-mails, letters, memos Nonessential Documents- Announcements, bulletins to employees, routine telephone calls 6. I would eliminate the disposition phase because after a long time I would no longer need some records that are not as important 7. Physical records are available in paper format 8. Four electronic record formats that companies use is:-E-mail: companies could use E-mails to reach out to people that could help them with promotions, and they could also use e-mails to reach out to employees. -Podcast- companies could use a podcast to reach out to people who listen to information on their computers or other electronic devices. -Tweet- A tweet can be used to post short messages from a computer or any other device. Companies can post links to their websites, post important news, and advertise their products. -blog- Companies can use blogs to write stories about their business, products, or the kind of work they provide. They may also upload graphics and videos for the more visual readers and viewers. 9. Physical records remain popular because if something happened to the electronic records, as if they vanished and could not be recovered, then physical records will be on paper, and copies can be made in case of an