logo

Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13

15 Pages5891 Words116 Views
   

Added on  2019-12-28

About This Document

Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13 1.1 & 1.2 Range of decisions to be taken and the information and knowledge needed to make effective decisions 3 1.3 Internal and external sources of information and understanding 4 1.4 Recommendations for improvement in the selection and analysis of information needed for business start ups 5 2.1 Identification of list of stakeholders which influences the decision making processes 5 2.2 Methods use in the developing business relationship with these stakeholders 5 2.3 A plan to involved the identified people in decision making process 6

Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13

   Added on 2019-12-28

ShareRelated Documents
Managing Communications,Knowledge and Information1
Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13_1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 & 1.2 Range of decisions to be taken and the information and knowledge needed to make effective decisions............................................................................................................................31.3 Internal and external sources of information and understanding...............................................41.4 Recommendations for improvement in the selection and analysis of information needed for business start ups.............................................................................................................................52.1 Identification of list of stakeholders which influences the decision making processes.............52.2 Methods use in the developing business relationship with these stakeholders..........................52.3 A plan to involved the identified people in decision making process........................................62.4 A strategy for future improvements...........................................................................................6TASK 2.................................................................................................................................................73.1 & 3.2 The communication process to grow the businesses......................................................73.3 Need, development and implications on the communication process to grow effectively.......73.4 Personal Development plan on communications skills.............................................................84.1 Existing approaches to the collection, formatting, storage and dissemination of information..84.2 Changes to improve collection, formatting and storage............................................................94.3 Implementing strategy for Reliance fresh................................................................................10CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................122
Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13_2
INTRODUCTIONManagement communication is the process in which planning, monitoring, implementing andrevision of all channels are involved. Well managed information sharing enables the staff to stayconnected and work in the company effectively (Managing communications. 2016). Information andknowledge are the key aspects of the organisation because if the company has effective knowledge andbetter information, then they will run it efficiently. For conducting the current research, Reliance Freshis chosen as organisation which sells high quality of food products. It is the convenience store formatwhich is in the retail format of Reliance industries (Reliance Fresh Direct, 2016). This reportcomprises of two tasks in which first is about different decisions to make for knowledge andinformation and external and internal sources for the business start-ups. It also includes identificationof different stakeholders and methods of developing formal relationship. Moreover, the second task isabout processes of communication, differentiation in business during start-ups phase, personaldevelopment plan with different approaches for information & knowledge and its implications on thebusiness for its future growth. TASK 1 1.1 & 1.2 Range of decisions to be taken and the information and knowledge needed to make effectivedecisionsRange of decisions to be taken for Reliance Fresh:There are various decisions which are to be taken by the company to start a new businessbecause; decisions making is a very crucial part of the organisation and they are as follows:Capital: To start any business, the owner needs money to maintain a positive cash flow. Capitalis an important part of the organisation as it helps in overall set up of the business. Throughthis, Reliance Fresh can start their business and grow the market share (Naves and et.al., 2012). Locality: This is also one of the important factors should be considered while starting up thebusinesses. The owner of the Reliance Fresh has to see the locality which should be accessibleto the customers (Reliance Fresh Direct, 2016). In Brick and mortar retail operation, location isthe critical step so location should be approachable to consumers.Pricing decisions: The decisions which are taken for the pricing is essential because there aremany other huge stores who are giving their products at much cheaper price. Moreover, theproducts of Reliance Fresh should also have good quality and additional features to attract largenumber of customers (Pettigrew, 2014).The information and knowledge needed to make effective decision making for start-upbusinesses are:3
Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13_3
There are different things which organisation requires making decisions. Firstly, companyshould have appropriate knowledge about the products which they are providing to the customers.They should know about the various changes which may happen in the business and should beaccountable to those changes (Rouse, 2016). Secondly, the company should have sufficient informationand knowledge about the competitors in order to assess their weaknesses. Due to this, company cangain competitive advantages over their businesses. If the company will know about their competitors,then the company have better knowledge about the competitors and they will better fare among theircompetitors. Thirdly, pricing power plays a vital role in the new business. Through this, company canincrease their profits or can decrease their revenues so the company should be competitive regardingthe same. Lastly, the business enterprise should know about its consumer and target market where theyneed to buy their products and services (Reliance Fresh Direct, 2016). They should offer their goodsaccording to consumer’s tastes, preferences and lifestyles. If company satisfy their customers throughfulfilling their needs and requirements, then the consumers will become loyal to them. 1.3 Internal and external sources of information and understandingThere are various internal sources of information and understanding which are having theirreliability and suitability in relation to the business. The different types of internal information arefinancial, personnel, marketing, administration etc. The financial information is related to theperformance and profitability of the company. This is suitable in gathering data about item payments,staff salary, taxes and other costs (Seidel and et.al., 2013). Personnel information is about theemployee’s data. It can be used to monitor existence of the employees and their work in the companythat also their eligibility at job and to the increment of salary which is based on company’s policies.Marketing information is used by the team to identify the products or services offered by the business.This information is reliable because it helps to improvise the business and keep customers happy.Administration information is about communicating with the external sources and it is suitable forstoring information of customers to build better relationships with them. There are different external sources of information and understanding which contains reliabilityand suitability in their business. The external sources include government, commercially provided andresearch etc. Government information is approaching from the reliable sources as it is the governingbody in which business operates. Company should follow all legal information provided bygovernment to run the business successfully (West and Bogers, 2014). Companies can usecommercially provided information to assist them in making the right business decisions. These arebased on information which is available to them from other companies. Research will helped them toincrease the sales and to raise the interest level. The key aspect to researching the information is to help4
Managing Communications, Knowledge and Information INTRODUCTION 3 TASK 13_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Report On Business Decisions
|15
|4885
|46

Managing Communications, Knowledge and Information Assignment (Doc)
|12
|3514
|237

Managing Communications, Knowledge and Information Solved Assignment
|15
|5330
|218

Managing Communications, Knowledge and Information : Report
|20
|7035
|39

Managing communication, knowledge and information
|18
|5505
|44

Managing Communication Knowledge and Information Assignment
|14
|4227
|39