Role of communication in today's corporate

Role of communication in today's corporate

EXECUTIVE SUMMARY

It is necessary to have basic information of communication before doing any work because of today's competitive world. That is why I have made report on role of communication in today's business world. Communication is an important part of today's business world. The success or failure of business depends upon the techniques of communication.

Introduction to communication:

The word 'communication' comes from the Latin word 'communicare'. In Latin language it means to impart, to express to participate, to share or to make common. Communication is an exchange of facts, ideas, opinions or emotions by two or more persons. In other words it is a transmission of messages.

Communication plays an important role in ensuring that people belonging to a particular country or religion or culture. Communication adds meaning to mankind life.

Definition of Communication:

"Communication is an exchange of facts, ideas, opinions or emotions by two or more persons"

The communication process :

Source:

First you need to clear about why you are communicating and what you want to communicate.

Message:

A message is information that you want to communicate with others.

Encoding:

The process of transferring the information that you want to communicate in a proper form.

Channel:

Messages are conveyed through proper channels, with verbal channels including face-to-face meetings, telephone and presentation; and written channels including letters, memos, e-mails, and reports.

Decoding:

Decoding means receiving of message. It is necessary to interpret the message in the same way intended by the sender.

Receiver:

The one who receives the message.

Context:

The situation in which you communicate with others. This may include the surrounding environment, corporate culture, international cultures, and so on.

Role of business communication :

In business, communication is used for all messages that we send and receive for specific purpose like running a business, managing an organization and so on. Communication in business is marked by formality as against social and personal communication. The success of any business depends upon effective communication.

Business communication wheel:

Superiors:

The higher ups in an organization to whom you report.

Peers:

The co-workers or people at the same level within an organization.

Subordinates:

The people in an organization who work under you.

Employees / Unions:

Employees unions can be quite powerful, so communication with them is important.

Shareholders:

Shareholders are very important internal stakeholders, since they are the owners of the company.

Customers:

Organization needs to communicate with customers to provide information about their products and services.

Intermediaries:

This refers to the trade - distributors, wholesalers, retailers, franchisees, etc.

Suppliers-

Outsourcing or relying on outside sources for raw materials and components.

Government:

Communicating with the government is particularly important in the Indian context and is a part of public relations.

Society:

Mass media advertising in the form of "public service advertising" could also be used to spread these social service messages.

Bankers:

Like shareholders, organizations need to communicate with bankers, both in good times and bad times. The reasons for communicating either bankers are the same as those for shareholders.

Media:

If the company projects a favorable image to the media, the media in turn will carry a positive story about the company for free. This is known as " publicity" and is part of public relations.

Means of communication in business

There are various sources or means of communication are used in a business world. It may be verbal and non-verbal or combination of it. Communication may be conduct internally or externally with in an organization which might have national or international exposure. Therefore there is a real need to develop a good channel of communication so that effective communication is conducted amongst employees. There is also need to develop a good mean of communication amongst the organization.

  1. letter, reports, memos, proposal, notice board, e-mail
  2. Internet, intranet, extranet
  3. Teleconfercing, videoconfercing, teletext.
  4. Fax, Telegraphy
  5. Tele-Computing
  6. Radio, television, magazine
  7. National and international legislative promulgations

Communication as a key Component:

  • Corporate identity is a crucial aspect to bear in mind for investors. Corporate Communication is a process that allows companies to share their information with the stakeholders. Not every company is aware of the significance of communicating its corporate identity to investors.
  • It represents a basis for the company, since their support is needed to achieve the organization's objectives. Furthermore, communication of corporate identity to investors represents an opportunity for a company to achieve its goals. The importance and relation of corporate identity and communication to investors is becoming a relevant issue not only for them but also for stakeholders.

    In the Modern Business World

    Whatever industry you work in, talk of communication or more importantly a lack of communication is never far away from the mouths of management and workers. Communication takes many forms from face to face to more advanced methods like:

    The key to successful communication within an organization is having a good mix of communication methods including team briefings and meetings, emails, teleconferencing.

    Scope of business communication:

    Business Communication is an extensive sphere. In an organization, there is consistent movement of information. Business Communication having a wide scope covering everything within branding, marketing, advertising, customer relations, research, reputation management and even employee engagement.

    1. Self-esteem.
    2. If you like yourself, you aren't busy wondering if: you are coming across like a nerd whether or not your attire is appropriate, whether you have offended this person in the past, if you have your facts straight, or If a whole host of other things are wrong with you, which probably aren't.

    3. Self-confidence.
    4. Another one is self -Confidence which comes from a string of successes, which have accumulated, enabling you feel in control and together.

    5. Positivistic:
    6. Communication is also about positive and personal energy. When you are energetic you appear more confident and in control. People admire energy and the communication that comes with it. They want to talk to you when you have a positive attitude because it brings energy to the conversation, and they feel better about themselves while conversing with you.

    Importance Of Communication :

    Communication is much important to human society as well as to an organization. But as compare to human society it is much important in business organization. In the words of Horald Janis, "The world of business is a word of action" It is an essential part of today's business trend. The poor and inaccurate communication leads to conflict and negativity. It also leads to cancellation of deal and loss of customer Goodwill.

    conclusion:

    Communication plays an important part of in business world. In Globalized environment you have to communicate with different countries with different cultural backgrounds. It is not just an activity in organization it is main root of success or failure of business.

    Bibliography:

    To prepare this report I got the data from the following:

    www.google com

    Reference book :

    Business communication (SMU) Edition -2008

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