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Impact of ICT on Firm Organization

   

Added on  2020-01-15

15 Pages4755 Words418 Views
Business DevelopmentLeadership ManagementProfessional Development
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Managing Communications,Knowledge and Information
Impact of ICT on Firm Organization_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Different decisions to be made and an examination of the information...............................11.2 Knowledge required to make the decisions in relation to starting up a business..................21.3 Internal and external sources of information and understanding..........................................21.4 Recommending improvement in methods used in the selection and analysis of information.....................................................................................................................................................32.1 List of stakeholder who action affect the decision making processes..................................32.2 Methods to develop business relationship with stakeholders...............................................42.3 Involvement of stakeholders in the decision making process...............................................42.4 Strategy for future improvements in this process.................................................................5TASK 2............................................................................................................................................63.1 Existing process for communication.....................................................................................63.2 Different communication processes that will be appropriate for the business......................63.3 Integration of communication system for implementation of improvements.......................83.4 Personal development plan for improving communication skills.........................................84.1 Existing approaches to the collection, formatting, storage and dissemination ofinformation and knowledge.........................................................................................................94.2 Appropriate changes to improve collection, formatting, storage and dissemination ofinformation and knowledge.........................................................................................................94.3 Strategy to improve access to systems of information and knowledge to strengthen thebusiness.....................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONManaging communication can be determined as a systematic implementation, planningand monitoring of different channels in relation with communication in the organization.Communication can be internal and external and at all aspect it is important (Barnaghi, Wangand Taylor, 2012). Main aim of any organization is to gain maximum profit and this is possiblewhen customers are satisfied. In this context, different set of strategies are implemented so thatthey will be able to attract more and more customer's. Present report is about starting up a newbusiness that will provide customers with high quality foods. This report covers different type ofdecision that has to be taken in order to start up new venture. Further, it covers recommendationsthat will improve the analysis of information needed for business start-ups. Moreover, it coverscomparison among various communication process that will be helpful for the growth of thebusiness. Lastly, it also includes appropriate changes to improve collection, formatting, storageand dissemination of information and knowledge. TASK 11.1 Different decisions to be made and an examination of the informationThere are different areas that has to be considered and planned so that business operationscan be performed in an effective manner. There are organization that provide their customerswith similar products and services (Aurum, Jeffery and Handzic, 2013). In this context, it isessential that firm make use of strategies and below given are major decisions that has to beconsidered for starting up of new business:Financial position: Finance play vital role because there are different aspects that has tobe considered and it requires financial support so that will enable to start up the business. Properdecision related with tools, equipments, salary that has to be given to employees, etc.Targeting and segmenting groups: Decision needs to be make in which target audienceand segmentation has to be done as it becomes easy to develop strategies as per the preference ofaudience (Becerra-Fernandez and Sabherwal, 2014). In addition to this, it also enables to developtype of product and services that has to be delivered to customers.Competitors: It is essential to analyse strategies that is applied by competitors. Thisenables to develop different strategies with the help of which new business will be able todevelop positive perception among customers mind. 1
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1.2 Knowledge required to make the decisions in relation to starting up a businessFirm needs to make sure different aspects so as to make effective decision. It is theresponsibility of management team to make sure that that proper information and knowledge isgathered. Below given are the knowledge and information that is required in relation to start up abusiness:Research: This is the initial stage that should be considered and it enables to know tasteand preference of customers (Galegher, Kraut and Egido, 2014). This will be helpful indevelop understanding and knowledge in relation with starting up a business.Preference to target market: When target market are decided, then business will be ableto know specific areas in which they should work on. Products can be developed that willbe aimed for attracting customers.Budget: For starting a business, the people involved should know the total budget. Thiswill enable to set up plans as activities have certain expenses and these all need tomanagement when business know their budget.Survey: Business can develop questionnaire and this will be filled up by target audience.It will help to know what are preference and what are the areas in which opportunitiesprevail (Alhawari, Karadsheh and Mansour, 2012). This way firm will be able to gainproper knowledge and information that is required in development of business.1.3 Internal and external sources of information and understandingBoth internal and external source are very helpful and important for the business to gatherinformation. It enables to make decision at global level. Internals sources of organizationincludes employees, suggestion boxes, complain boxes, feedback records, etc. (Bloom, Garicanoand Van Reenen, 2014). On the other hand, external sources includes dealers, vendors,competition, internet, etc. Employees with the organization have direct interaction withcustomers and so they know better about the issues that are faced b y service users. They arehelpful to provide valuable information regarding the problems or issues. Accordingly, changescan be made in the services or products with the help of which firm can satisfy their customers.External sources are helpful to get information about the suppliers as they are the onedeliver the materials that are used to make finished goods. They provide proper information andcost is also decided as per the cost that suppliers demand. Further, internet play vital role inknowing about the market and different strategies that are implemented by competitors2
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