Report on Importance of Managing Communication
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Added on 2019-12-03
Report on Importance of Managing Communication
Added on 2019-12-03
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Table of ContentsIntroduction................................................................................................................................3Task 1 ........................................................................................................................................31.1 Range of decisions needs to be taken for operating a new business................................31.2 Examination of the knowledge and information needed to take decisions......................31.3 Internal and external sources of information and knowledge ..........................................42.1 Identifying the stakeholders for decision making process................................................42.2 Development of business relationship with stakeholders.................................................52.3 Involvement of stakeholders in the decision making process..........................................51.4 & 2.4 Strategies to involve stakeholders in decision making process and suggestions forfurther improvement...............................................................................................................5Task 2.........................................................................................................................................63.1 Existing process of communication used by the management of HMRC........................63.2 Ways to improve appropriateness ....................................................................................63.3 Implementing the improvements for enhancing the effectiveness of communicationsystems....................................................................................................................................7Task 3.........................................................................................................................................73.4 Creating a personal communication and development plan.............................................7Task 4.........................................................................................................................................84.1 Existing approaches of collecting, formatting, storing and disseminating of knowledgeand information.......................................................................................................................84.2 Changes for improving the existing approaches of data collection and maintenance......84.3 Appropriate strategy for improving the access of information systems...........................8Conclusion..................................................................................................................................8References .................................................................................................................................92
INTRODUCTIONIn today’s competitive world, it is the most essential for commercial entity to developbetter relationship with stakeholders for performing its business practices in an appropriatemanner. Due to this, it is required for the management of company to maintain effectivecommunication with all stakeholders (Biltz and Ruegg, 2005). Availability of propercommunication leads to enhance the level of satisfaction and trust of all stakeholders towardsthe business entity. Along with this, it is helpful for organization to fulfil its goals and objectives veryquickly. By considering this, present report is focused on describing the importance ofcommunication in new establish business along with including the description of decisionsneeds to be taken by management at the time of opening new business. TASK 1 1.1 Range of decisions needs to be taken for operating a new businessIn order to start a Coffee Shop, first decision needs to be taken by David and hisfriend is related to the financial resources. Without finance, it is not possible for them tooperate a new business (Evans, Carlon and Massey, 2005). Due to this aspect, it is requiredfor them to consult with investors and financial advisors for the availability of capital. Alongwith this, decision regarding to select the location of coffee shop is one of crucial action onwhich the success of this business depends mostly. For entering into new market in an effective manner, it is necessary for the owner ofbusiness to evaluate the strategy of major competitors along with identifying the factors suchas political, legal, economical, technological, environmental and social (Agarwal and et. al.,2006). Clear understanding of competitor’s strategy and those factors assist both of them tomake appropriate strategy for their business launch and gaining competitive advantage.Moreover, David and his friend should take proper actions for identifying the requirements ofcustomers in order to provide better products and services to them.1.2 Examination of the knowledge and information needed to take decisionsThere are following types of information and knowledge which are necessary to beconsidered by David at the time of making their business decisions. These are as follows:Customer requirementSuccess of business mostly depends upon the satisfaction and loyalty of customers(Keil and et. al., 2008). Due to this aspect, it is necessary for the owner of business to identifythe needs and demands of customers for providing them better quality of services inaccordance to their requirements. Competitor strategyIdentification of competitor strategy is most essential for the management of CoffeeShop for gaining competitive advantage in this competitive world. Clear understanding ofcompetitor’s strategy helps management to take further actions regarding to modify andimprove its services and practices (Evans, Carlon and Massey, 2005).Government policyIt is required for the business’s owner to follow the rules and regulations ofgovernment in order to perform its practices in a legal manner (Moody and et. al., 2009).Considering laws of government at the time of making its policies is very beneficial forCoffee Shop by enhancing its brand image among general public and stakeholders. HR policies3
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