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Managing Communications, Knowledge and Information Assignment (Doc)

   

Added on  2020-10-23

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Professional Development
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Managing Communications,Knowledge and Information
Managing Communications, Knowledge and Information Assignment (Doc)_1

Table of ContentsLO1 Understand how to assess information and knowledge needs.............................................................31.1 range of decisions to be taken............................................................................................................31.2 information and knowledge needed for effective decision taking in starting up a business...............31.3 List internal and external sources of information and justify their suitability and reliability.............41.4 Recommend improvements in the selection methods and justify the information needed for startups..................................................................................................................................................................4LO 2 Be able to create strategies to increase personal networking to widen involvement in the decision-making process............................................................................................................................................52.1 Identify stakeholders whose actions may influence decision making processes, in startup business.52.2 Which methods you would use to develop a business relationship with the stakeholders..................52.3 A plan to involve the identified people in the decision making process.............................................52.4 Design strategies for future improvements in this process.................................................................6LO. 3: Be able to develop communication processes..................................................................................63.1 existing processes of communication in case study...........................................................................63.2 different communication processes which may be appropriate for growing the business..................63.3 appropriate communication processes to support future growth........................................................73.4 personal development plan for leader in business to improve your own communication skills.........7LO4 Be able to improve systems relating to information and knowledge...................................................84.1 existing approaches to the collection, formatting, storage and dissemination of information and knowledge...............................................................................................................................................84.2 changes to improve collection, formatting, storage and dissemination of information......................84.3 A strategy to improve access to systems of information to strengthen business and help it to continue its future growth........................................................................................................................9
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Introduction It is very essential for the firms in present times to develop and manage the skill set related toknowledge, information as well as communication. This is as the business environment carrieswith it widespread information and only the required one is to be communicated. This techniqueonly promotes the growth of firm but also assist it to be in tune with the rapid changes intechnology (Rowley and Hartley, 2017). The present report has thus focused on assessing theinformation needed by business so that strategies can be formulated accordingly. Part 1 dealswith the startup business involved in selling high quality foods and the information needed bythe company to carry out decision making. On the other hand part 2 deals with expansion plan ofthe same firmthrough buying of awell-established café whose owner is about to retire. Emphaseswill this be on the communication processes used by the company and how can they be improvedin the future. Focus will also be made on proper collection, formatting, storage and disseminationof information. LO1 Understand how to assess information and knowledge needs1.1 Range of decisions to be takenVariedrange of decisions is required to be taken while setting up a new business. The very firstdecision to be done is with regard to deciding over the aims and objective of the business so as tofulfill the mission of providing quality foods to the consumers. These include the need to decideover what quality foods and services are to be offered to the client and what should be the pricingstrategy so as to gain sales and maintain profitability (Galliers and Leidner, 2014). The need isalso to promote the business hencedecision is required to be taken about means of promotionwhich can be either through word of mouth publicity, use of flyers and advertisement on socialmedia. A decision is also required as to who will be the major suppliers of the company that willoffer quality foods. There is further a need to carry out recruitment or selection activities of newemployees followed by making relationships with business partners as well as implementing themarketing strategies. 1.2 Information and knowledge needed for effective decision taking in starting up a businessSetting up of a new start up business often involves the need to make decisions hence variousinformation and knowledge is needed for the same.
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About competitors – information is required about what product and service offerings arebeing sold by the competitors, who are there suppliers and what pricing strategies hasbeen adopted by them. If this knowledge is available with the company officials thenfood products can be offered accordingly (Park and Lee, 2014).About market – information is needed about the overall market scenario with respect todemand and supply conditions. This is in terms of what kind of quality foods are indemand and who the major suppliers in the industry are. This will help the firm toformulate strategies accordingly. About governmental policies –The policies such as taxation, quality standards, employeerights, loan rates etc. are most likely to put a huge influence on the overall operations ofthe company. Hence the managers must have a compete knowledge a d understandingabout the same so as to avoid any legal issues (Brezina and Smith, 2017). Internal knowledge –This refers to information about varied departments that arefunctioning in the company and what objectives and targets have been set for them. Thereis also a need to have awareness about future plans of the company so that it can beimplemented in the best manner and profits can be gained in long run. 1.3 List internal and external sources of information andjustify their suitability and reliabilityInternal sources of information for the startup company are the supervisors and employees whoare dealing with the consumers. They can provide usefulinformation about consumer trends andhow they are reacting towards the quality foods offered by the company. Next are the internalreports of business that can provide an overview about thesales and profit so that strategies canbe taken accordingly (Pauleen and Gorman, 2016). These are quite suitable as they can providethe maximum amount of as well as accurate data about company and consumer trends. Then is the external source of information is in form of carrying out consumer surveys to knowabout their taste and preferences as well as theirreactions towards the product sold by startup upcompany. This will be followed by making a study about industry reports in food retail sector inorder to assess the ongoing trends. The newspaper article written about the competitors can alsoact as a huge source of information. These are quite suitable means in terms of easy availabilityand they can provide trustworthy information (Obeidat, Al-Dmourand Tarhini, 2015).
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