Develop Business Relationship with Stakeholders
Added on 2020-01-07
13 Pages4047 Words148 Views
Managing Communication
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Different decision to be made to start up a business.............................................................11.2 Knowledge required to make the decision to start up a business..........................................21.3 External and internal sources of understanding and information..........................................21.4 Recommendations to improve analysing and selection of information................................32.1 Impact of stakeholders in influencing decision making........................................................32.2 Ways to develop relationship with stakeholders...................................................................42.3 Plan to involve decision making for location and pricing strategy.......................................42.4 Strategy for future improvement process..............................................................................5TASK 2............................................................................................................................................63.1 Existing process of communication......................................................................................63.2 Difference communication process.......................................................................................63.3 Integration of communication system for implementation of improvements.......................73.4 Personal development plan for improving communication skills.........................................74.1 Existing approaches to the collection, formatting, storage and dissemination ofinformation and knowledge.........................................................................................................84.2 Appropriate changes to improve collection, formatting, storage and dissemination ofinformation and knowledge.........................................................................................................84.3 Strategy to improve access to systems of information and knowledge to strengthen thebusiness.......................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONWithin the organization there are many business activities involved and for conductingeach of the activities effectively it requires proper communication so that there is coordination.In this context, managing communication can be determined as a process of systematicmonitoring and planning among different channels in order to develop strong relationship amongemployee and employer (Nachtergaele and Dauwe, 2014). There are different type of strategiesthat are implemented in order to make effective interaction among employees. Present report isregarding developing new venture and it will be focused on providing quality food. This reportcovers internal and external sources of information and that are used within the organization.Further, it covers different methods in order to develop business relationship with stakeholders.Lastly, it also includes integration of communication system for implementation ofimprovements. TASK 11.1 Different decision to be made to start up a businessSo as to perform business activities in an effective manner there are different set of areasthat has to be considered. In order to develop or to think over to start new business, there areareas are important. Below given are the elements that contribute in decision making:Targeting and segmenting: It is a type of process in which management identifiespeople to whom products and services needs to be focused. As per the type of targeting done,decision are made in order to attract them. Competitors: There are many firms that provide their customers with similar productand services. These organizations make use of diverse set of strategies to attract customers(Axelsen, Calloe and Nielsen, 2013). With this respect, to start up business this element isimportant to consider in order to make proper decision. Financial position: There are different business operation that has to be done and inorder to make them operate it is essential to have financial support. This helps in makingdecision over totally how much needs to be spend over each operations. 1
1.2 Knowledge required to make the decision to start up a businessTo make decision, it is essential to list out have proper knowledge for each of the areas inwhich decision has to be made. In this context, following are the information and knowledge thatone should have in order to make proper decision for the business:Budget: As stated above, there are different activities and operations that has to beconsidered (Ulmer, Sellnow and Seeger, 2013). One should have proper knowledge related withthe approximate budget that will be required for business operations. Research: This is a type of way that provide effective information about the market andthe customers. This develops knowledge about the needs and requirement of service users.Further, it provides different options that the business has through which huge profit can begained. Survey: Survey is conducted by developing questionnaire and they are made filled bytarget audience or employees. It enables to know perception of people towards the products andservices. This helps to make proper decision about business or the changes that should be madein the operations. Target market: To start new business, target market should be studied as frequentchanges that place in their taste and preference. Further, it is important to understand them andmake them implemented so that goals and objectives can be achieved. 1.3 External and internal sources of understanding and informationInternal sources are the customers and employees. Workers are very helpful inunderstanding the issues that are faced by customers (Song, Northouse and Mood, 2012). Theyare the one who have direct interaction with services and they present the services and productsthat are delivered by the firm. Further, customers are the one who make use of the service so theyknow the problems or issues that are faced by them. Both these internal sources are helpful tomake the organization develop their strategies towards achieving the goals and objectives.On the other hand, external sources includes government, suppliers, etc. They help toknow the over all strength of the market. There are situations in which changes needs to be madein the business operation. For example, if government increase fiscal policies then firm has tomake changes in the price. In this context, it can be stated that external factors provide adequate2
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