Business communication of Tesco plc uk

Added on - 06 Jan 2020

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BUSINESSCOMMUNICATION
TABLE OF CONTENTINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Explain different types of business information, where the information originates fromand the purpose of the information and analyse them.................................................................3Internal........................................................................................................................................3Competitive Information.............................................................................................................4M1. Analyse different types of business information and their sources.....................................4D1. Evaluate the appropriateness of business information used to make strategic decisions.....4TASK 2............................................................................................................................................5P2. Present complex internal business information using written document, verbalpresentation and power point as appropriate in the context........................................................5P3. Produce corporate communications for your chosen organisation.......................................5P4. Evaluate the external corporate communications of an existing product or service.............6D2. Evaluate the effectiveness of business information and its communication as keycontributors to the success of an organisation, using examples to illustrate your points............6TASK 3............................................................................................................................................6P5. Explain the legal and ethical issues in relation to the use of business information..............6P6. Explain the operational issues in relation to the use of business information......................7M2. Analyse the legal, ethical and operational issues in relation to the use of businessinformation, using appropriate examples....................................................................................8TASK 4............................................................................................................................................8P7. Outline electronic and non-electronic methods for communicating business information,using examples for different types of audience...........................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONA business needs accurate and relevant information from internal and external sources inorder to operate profitably. Proper collection of data creates an environment where informeddecisions can be taken for the benefit of the business. In order to manage information effectively,there must be good communication systems within the organisation. Staff must possess goodverbal and written skills in order to communicate and share information. Business informationcan be used to obtain competitive advantage and promote efficiency. Organisations generateinformation internally, recording details of products manufactured, purchased and sold, and theirassociated costs (Arnold and Boggs, 2015). Businesses use information to manage not only whatis currently happening in the organisation but also to plan for the future and ensure their survival.Information is collected, stored, manipulated, analysed and reported to those who need to use it.People need to become skilled manipulators and users of information to ensure organisationsbecome more efficient and succeed in achieving their stated purposes. Since the development ofthe personal computer and more recently the internet, communication methods have changedsignificantly. Gathering relevant information from a range of sources is a skill that needs to bedeveloped using electronic and non-electronic sources. The below report is based on the businesscommunication measures ofTESCO PLCUK that is operating in the retail industrial sector ofUK.TASK 1P1. Explain different types of business information, where the information originates from andthe purpose of the information and analyse themEvery business needs information to help it succeeds. A combination of internal andexternal business information resources can provide the background necessary to evaluatecurrent performance and plan future progress (Beebe, Beebe and Redmond, 2011). Knowing thetypes of information resources that are most critical to business can help companies plan forcapturing, analysing and using that information most effectively.InternalThe first source of information that businesses should turn to is the information theyalready have. Every business will have the ability to gather information about employees, aboutsales and about customers (Crowley and Heyer, 2015). Setting up systems and processes for
gathering the right information can help business owners track, trend, analyse and act uponbusiness that gives them clues into such issues as what drives employee satisfaction, the productsmost demanded by customers, areas of employee and customers satisfaction and dissatisfaction.Competitive InformationNo business is without competition and gathering information about competitors iscritical. Fortunately, this is easier than ever to do with the advent of the Internet (Griffin, 2013).Through search and through participation in social media--sites including Twitter, Facebook andLinkedIn--businesses can gain competitive intelligence about what others are doing.M1. Analyse different types of business information and their sourcesCompany informationthis can be obtained from the company websites.Market informationthis can be obtained fromstatistics, data and surveys onthe UKmarket.Product/industrial informationthis can be obtained from the various industrialmagazines.Financialinformation-This is obtained from the annual reports of organizations.D1. Evaluate the appropriateness of business information used to make strategic decisionsIt is appropriate is because it was based on the sales, benefits and loses information thefinancial department obtained from their on-screen data. Marketing What types of informationthe marketing department requires? The marketing department at TESCO will need informationregarding the marketing activities that TESCO performs in order to attract new customer, topromote new products and services and to communicate offers and deals to customers (Hargie,Boohan and Murphy, 2010). This department within TESCO needs all sorts of informationincluding on-screen information, written information, verbal information etc... The marketingdepartment of TESCO mostly requires types of information such as how effective the business?smarketing activities are on their target customers and the general public. This department useson-screen communication which allows them to allow them to gather the opinion of customers
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