Managing Communication Knowledge and Information

Added on - 03 Dec 2019

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ManagingCommunicationKnowledge andInformation1
TABLE OF CONTENTSINTRODUCTION.....................................................................................................................................3TASK 1......................................................................................................................................................31.1 Major decisions which needs to be taken for global growth.......................................................31.2 Need of information and knowledge for effective decision making...........................................31.3 Internal and external sources of information...............................................................................41.4 Recommendations for improvement in decision making for the global growth.........................42.1 Stakeholders for a decision making process................................................................................42.2 Development of contact and business relationship with stakeholders........................................52.3 Involvement of stakeholders in decision making........................................................................52.4 Strategies for improving a relationship.......................................................................................5TASK 2......................................................................................................................................................63.1 Process of communication...........................................................................................................63.2 Difference between horizontal and vertical form of communication and the ways toimprove appropriateness....................................................................................................................63.3 Improvements which ensure greater integration of system of communication...........................73.4 Plan to improve communication skills when work as a supervisor of Omega............................7CONCLUSION..........................................................................................................................................8REFERENCES...........................................................................................................................................92
INTRODUCTIONCommunication can be defined as a way or process through which one can exchange hisideas and thoughts by the means of oral, written and other mediums (What is Communication,2015). Process of communication is completed only when receiver gets and understands themessage in the same way in which sender of the message transmitted it. Communicationknowledge and information plays an important role in the success of firm. It is the tool whichenables company to transfer knowledge and other insights related to the work aspects which helpit in the achievement of organizational goals and objectives. This project report is based on thegiven case study of Omega airlines and it depicts the needs of knowledge and information foreffective decision making. Besides this, it also depicts the assessment of internal and externalsources of information which helps company in the collection of valuable information whichhelps it in achieving the success.TASK 11.1 Major decisions which needs to be taken for global growthEvery company that wants to get expand in the global market needs to take severalimportant decisions which would affect its growth and profitability in the global market.Company needs to make effective decisions regarding several aspects such as financialdecisions, target market decision, marketing of product and services decisions etc. Properutilization of finance plays an important role in the success of company so it needs to makeeffective financial plan and policies which ensures global growth of the organization. Besidesthis, enterprise that wants to enter in the global market for growth and development needs toconsider political and legal conditions of that market (Tong, Tak and Wong, 2015). It is becauseof the reason that it highly affects global expansion decisions of company and to achieve successin the global market, relationship between business and the government is essential fordevelopment.1.2 Need of information and knowledge for effective decision makingBefore entering into the global market, company needs to collect the informationregarding competitors and government. Along with that, it needs to have complete knowledgeabout the competitors and government to become successful in the global market. Competitor’sproduct, plan and policies also provide more help to company in making effective decisions3
which prove to be beneficial for the firm. Besides this, organization also has informationregarding government policies, rules and regulations related to the products or services whichcompany plans to deal in the global market (Pearson, Smeltzer and Thomas, 2015). It alsoprovides help to the business in making more effective and efficient decisions because thesefactors highly affect the growth and profitability of company.1.3 Internal and external sources of informationInternal and external sources of information plays a vital role in effective decisionmaking related to the global market. One of the main internal sources which provide morevaluable information is the annual report of company. It provides information regarding financialhealth and condition of the business which helps the firm in making effective global expansiondecision (Ribeiro and et.al., 2015). To assess the suitability and reliability of source, companyuses latest data of the report which gives better insight to the firm. On the other hand,organization also collects information from external sources such as government that providesinformation about tax liabilities and other regulatory policies of the firm related to businessdealings. To assess the suitability and reliability of data, company requires using only that sitewhich is registered and has copyright for the information.1.4 Recommendations for improvement in decision making for the global growthTo make improvement in the decision making process for global growth anddevelopment, company needs to focus on effective data collection methods. Primary method ofdata collection proves to be more beneficial for the organization because it provides valuable andreliable information to company (McCallister and et.al., 2015). Questionnaire provides morehelp to the firm in the collection of accurate data from respondents. Company frames questionsof questionnaire according to its need which helps business in the collection of valuable insightabout global market customers, market condition and other important aspects.2.1 Stakeholders for a decision making processThere are many stakeholders such as employees, customers and shareholders that play animportant role when company makes decision regarding global market. Employees of companyare one of the main elements who provide creative and effective solution to the managementabout various global issues. Besides this, shareholders of company are also one of the mainsources which help the firm in making effective decisions to attain the specific goals and4
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