Improving Information and Knowledge Management to Promote Business Growth

The assignment discusses strategies to improve the performance of

UNIT 16. MANAGING COMMUNICATION, KNOWLEDGE
AND INFORMATION
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Table of Contents
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Introduction
Information and knowledge are the two most important instruments that any
organisation can use for achieving success in this tremendous competitive world of business
or marketing. An organisation to function properly must have a proper decision- making
process. Improved decision –making process that an organisation undertakes, helps the
organisation to take right decision for the profitable as well as successful development of the
organisation. Accumulation of necessary and beneficial information is essential for the cause
of improved decision- making.
Along with the accumulation of all the essential information, the selection of the
important stakeholders, as well as, retaining those profitable stakeholders is of great necessity
for the development of the organisation. In this assignment, the will be discussed various
forms of communication, as well as, ways to select stakeholders and even retaining them. To
deal with these important elements, that structures the decision- making process of an
organisation. It had currently started a new food company named as “Hunger Heaven” Food
Company.
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Task 1
Lo 1 Understanding the ways to assess information and knowledge needs
AC 1.1, 1.2 Discussing the different decision that are to be made and an examination of
the information and knowledge required to make the decision in relation to starting
up a business.
The functioning of an organisation depends on the decision- making process of that
organisation. In the opinion of Davis (2014, p.3), Decision- making involves planning about
every step the organisation must take to satisfy all the stakeholders of the organisation, as
well as, to promote the organisation to the pinnacle of success. The currently started food
company “Hunger Heaven”, may undertake various strategies, for the purpose, of decision-
making. The strategies that the food company may introduce in their decision- making
process involves:
Organisational and Personal Decision- Making Process
In the view of Roshan et al. (2015, p.382), Organisational and Personal Decision-
Making Process is an important as well as, relevant form of decision- making technique that
the “Hunger Heaven” Food Company may incorporate or undertake to encourage proper
decision- making process for the development of the food company. These types of decision-
making are utilized when all the needs, as well as, the demands of the employees and even
the customers are taken into consideration. The decisions that are made to solve the regular
minor problems that are faced by the organisation are included under Organisational and
Personal Decision- Making Process.
Tactical and Operational Decision- Making Process
In the view of Slabbert (2015, p.36), Tactical and Operational Decision- Making
Process is another important decision- making technique, which the “Hunger Heaven” Food
Company may undertake to reach the pioneer position of success in the world of marketing.
These strategies are useful for the implementation of all the other important strategic
decisions that are taken by the organisation. The tactical decision- making process also
involves activities like dividing the workforce, structuring the flow of work, possessing
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important resources such as employees, money, as well as, materials for the growth of the
Food Company.
Programmed and Non- Programmed Decision- Making Process
In the opinion of Mcdonald (2016, p.96), Programmed and Non- Programmed
Decision- Making Process is a necessary decision- making strategy that the “Hunger Heaven”
Food Company may undertake in order to continuously develop in the sector of business and
marketing. The organisation must remember that for the growth of any organisation, the
employees or the workforce of the organisation must be satisfied. Decisions including the
opening of new branch, satisfying the needs of employees etc. are included in this process.
Required information and knowledge for decision-making
To open a new shop, it is necessary to have a number of information that have a
considerable impact on the business. Some of these are:
Know about competitors: it is a fact that in every business sector, there will be an inevitable
rivalry that can have a major impact on the business. Therefore, in present case, the owner
must have all the information about the competitors in the same sector. Besides this,
information should also be there about rivals company's strategic moves so that said
organisation of Hunger Heaven can also make decisions accordingly.
Know the strengths and opportunities: For making an effective decision, it is necessary to
have a complete knowledge of own strengths and various opportunities in market. For this
purpose, the mentioned entity can make a SWOT analysis of the company. This will give an
overview of the organisation about different areas in which the firm has favourable position
along with different areas in which it lacks. Besides this, to make right decision, it is crucial
to be updated for all the opportunities coming in market.
AC 1.3 Listing of the internal as well as the external sources of information,
understanding and assessing these sources and justify their suitability and
reliability in relation to the business start- up
Information, as well as, essential knowledge is beneficial for the prosperous
development of the “Hunger Heaven” Food Company. In the opinion of Dutot et al. (2014,
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p.679), relevant information, as well as, knowledge can be accumulated from two significant
sources known as the internal and external sources of information and knowledge.
Internal Sources of Information that the Food Company may undertake
Accumulation of beneficial, as well as, relevant information is of utmost necessity for
planning strategic decisions for the prosperous and fast achievement of the “Hunger Heaven”
Food Company. In the opinion of Ivancevich et al. (2012, p.100), Internal sources of
information are collected from all the necessary sources that exist within the organisation. All
the employees working for the company, the customers attached to the company, even all the
other stakeholders of the organisation are considered as the internal sources from where the
relevant information may be collected. From these internal sources, the “Hunger Heaven”
Food Company accumulates information such as demands of the employees, desires of the
customers etc. Internal information collected by the food company helps the organisation to
improve the decision- making process of the organisation, by inculcating the necessary
changes that are accumulated from the internal sources of information.
External Sources of Information that the Food Company may undertake
The “Hunger Heaven” Food Company depends on various external sources for the
collection of effective, as well as, essential information that influences the decision- making
process of the organisation leading to the prosperous development of the organisation. In the
opinion of Borghoff and Pareschi (2013, p.32), the external sources are comprised in the
acronym PESTLE. This involves the Political factors that put an impact on the growth of the
organisation. Political factors that influence the growth of the organisation involve the
political pressures, as well as, the political environment surrounding the organisation. Other
external sources from where the organisation can gain information for the benefit of the
company include Economical Factors, The Technological Factors, The Social Factors, and
The Ecological Factors. The Environmental Factor refers to the external environment that is
surrounding the organisation. If the environment surrounding the organisation is hygienic and
work friendly, then it will positively influence the productivity of the organisation. The
Economic Factors refer to the economic status of the market, which the organisation
must analyse thoroughly and even regularly, to plan their marketing strategy profitable.
Social Factors from which the external sources of information are accumulated, depends of
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the culture, as well as, the perspective of the society, where the organisation is planning to set
up their business. The organisation by gaining information about the demands, as well as, the
desires of the society will be able to undertake decision- making process including all the
needs of the society, to increase the sales of the “Hunger Heaven” Food Company.
Technological factors are also the most important source of information. By the proper use of
the technology, the food company can easily collect all the necessary information about the
competitors and this technology can also be used for the purpose, of storing essential and
relevant information for the success of the organisation.
AC 1.4 Recommend any improvements in the methods used in the selection and analysis
of information needed for business start-ups.
Collection of effective and relevant information, as well as, knowledge is very
important for the prosperous development of the “Hunger Heaven” Food Company.
However, for the organisation to perform the task of collection of the proper information the
organisation must improve many of its strategies. As recommended by the learner, the food
company in order to improve the collection of the relevant information and knowledge must
incorporate many methods such as the organisation must improve the recruitment process of
the organisation in order employee those professional researchers, having proper knowledge
about the information that can be beneficial for the organisation. The business start- up
company like the “Hunger Heaven” Food Company must also incorporate the use of the
modern, as well as, improved technology for the accumulation of the information. In the
opinion of Botha et al. (2014, p.56), Modern technology is important not only for the
collection of relevant information; rather it is also extremely beneficial for the storage of all
the relevant and effective information that can be used for the future development of the
company. The star- up company can also use the modern technology for evaluating the
position, as well as, the marketing plan of the competitors, in order to plan strategies for
defeating the competitors.
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LO 2 Create strategies in order to increase personal networking to widen involvement
in the decision- making processes
AC 2.1 Identifying a list of stakeholders whose actions may influence your decision-
making processes, in relation to starting up the start- up company
In the view of Dozier et al. (2013, p23), Stakeholders are the most important portion
of an organisation. The growth of the organisation is intermingled with the growth of the
stakeholders and vice versa. The decision- making process of the “Hunger Heaven” Food
Company must include all the suggestions, as well as, feedbacks of the stakeholders to
improve its marketing strategies. The customers linked with the company, the workers of the
company, the suppliers, as well as, the creditors are the important stakeholders of the food
company. Now after analysing the important stakeholders of the “Hunger Heaven” Food
Company, the organisation must divide their stakeholders into categories those are Secondary
Stakeholders, Primary Stakeholders, as well as the Tertiary Stakeholders.
TERTIARY STAKEHOLDERS  Tertiary Stakeholders include
the financial institutes
standing in support of the
“Hunger Heaven” food
Company.
 It also involves the media,
which works toward the
process of advertisement of
the organisation, which
increases the popularity, in
turn the profit scale of the
company.
 Other Tertiary Stakeholders
are corporate agencies, as well
as, the foreign agencies that
stand in support of the
organisation.
PRIMARY STAKEHOLDERS  The customers linked with the
company.
 The other potential customers are
included this category.
SECOUNDARY STAKEHOLDERS  All the local authorities those who are
linked with the organisation are
included in this category.
 Along with it, the traditional
authorities are also included in this
sector.
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Table 1: Types of Stakeholders
(Source: Willcocks, 2013, p.35)
AC 2.2 Selection of professionals and other stakeholders you should make contact with
and the ways to make contact with these individuals. Which methods you would use
to develop a business relationship with these selected individuals
In the road of business development both the stakeholders, as well as, the organisation
move hand in hand in order to gain success. Therefore, for the profitable and continuous
growth of the “Hunger Heaven” Food Company, the organisation must select their
stakeholders consciously. In the opinion of Willcocks (2013, p.36), Proper selection of the
profitable stakeholders acts as the roots of strong business. For the selection of professional,
as well as correct stakeholders, the organisation must follow some methods, among the
methods two most important methods that are followed by the organisation are as follows:
Expert Judgement in the process of selection
Expert judgement can be used as a very important, as well as, beneficial tool for the
selection of the most beneficial, as well as, the profitable stakeholders for the “Hunger
Heaven” Food Company. In the view of Drury (2013, p.32), proper selection of the involve
collecting all the necessary information from the customers via their feedbacks. Then
utilising this information for the purpose, of selecting other stakeholders, helps the company
to grow.
Analysis of the Potential Stakeholders
The “Hunger Heaven” Food Company must at first collect all the necessary
information about the interested stakeholders. Analyse their enthusiasm, interests, skills, as
well as, the capacities of the potential stakeholders, those who want to connect with the
company, and together work towards its development. Enthusiastic and interested
stakeholders will prove to be the backbone of the organisation.
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AC 2.3 Create a plan in order to involve the identification of people in the decision-
making process for example price strategy and location strategy applicable for this
business start- up
After the identification of all the profitable stakeholders, they are involved in the
decision- making process of the “Hunger Heaven” Food Company. Strategies that demands
the involvement of the stakeholders are
Location Strategy
In the opinion of Turnbull and Vala (2013, p.325), the location of the organisation
will be decided based on the comfort, as well as, the desires of the stakeholders such as the
customers. The customers will prefer to travel short distances to reach the organisation, as
well as, the environment surrounding the organisation must also be customer friendly.
Pricing Strategy
The price of the products of the “Hunger Heaven” Food Company is decided after
considering with the stakeholders. Products quality as judged by the stakeholders will decide
the price of the products. Even the product prices of the competitors also influence the
product price of the food company.
AC 2.4 Create a plan including strategy for future improvement in this process
The learner, in this section of the assignment suggests the “Hunger Heaven” Food
Company may include some strategies like product pricing strategy, location strategy,
stakeholder segregation strategies etc, for the cause of future improvement of the
organisation. The stakeholders’ segregation must be done properly, so that the company can
evaluate their needs separately and work towards it.
For making a good networking and relation with various stakeholders like customers,
various local and corporate agencies who are linked with the organisation, investors and
shareholders. For making contacts with the investors and shareholders who can aid in making
a good investment on the firm, the owner can show their sound financial position to them.
This will aid in attracting them for making investments on the company. Besides this, for
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having a relation with primary stakeholders like customers and local authorities, the
enterprise must deliver quality products and services so as to make new customers and also
satisfy them. Besides this, by complying with all legal formalities required, the mentioned
entity can satisfy them. Thus, this will create a positive image of the firm in society that will
result into development of positive relations with various stakeholders. All these strategies
will improve connection and networking of stated business with different stakeholders.
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Task 2
Lo3: Able to develop communication process
(AC 3.1)(AC 3.2) Report on existing process of communication in “Hunger Heaven”
Food Company and design ways by explaining different communication process
As an upcoming food supplier sector, “Hunger Heaven” Food Company acquires an
effective communication process to promote its services. “Hunger Heaven” Food Company
will be able to ensure its success by appropriate following different types of communication
procedure. Communication process means the relationship between the authority and its
staffs. Upward, formal and informal communication process are introduced by any
organisation
Upward communication process
When the management receives essential information regarding the working progress
of the lower level employees continuously through communication process, is known as
upward communication system. The authority receives this information by arranging
employees meeting and collecting suggestion from them. In the words of Bartol and Martin,
through upward communication the flow of vertical communication in the organisation
between the executive level and lower level employees are introduced.
Formal communication process
The organisation follows formal communication process by utilizing some specific
rules, regulations and policies which are established by the government. The organisation
follows formal communication procedure in both the purpose of eternal and external issues.
Formal communication process is followed by any organisation to create a disciplined
atmosphere maintained an official secrecy in the organisation. In formal communication
process the employees are bound to finish its jobs by following a perfect rules and regulation,
so the authority will be able to satisfy its profit level easily.
On the other hand, the management also provides sufficient cooperation with its
staffs. In the opinion of Bartol and Martin, both the communication methods of vertical and
horizontal are followed by the organisation through formal communication process. The
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management of “Hunger Heaven” Food Company will exchange all information with its
employees by utilizing all official rules and regulations. Thus, the management will be able to
involve all its employees towards its goals. The employees will be able to have a clear
concept regarding their roles responsibilities. Through formal communication process, the
management of “Hunger Heaven” Food Company will be able to establish and develop co-
ordination process between the authority and the staffs.
Informal communication process
To develop the “Hunger Heaven” Food Company, the owner of the industry must
follow informal communication process. Informal communication process the management
deals with its employees by crossing all boundaries of the workflow. Through informal
communication process, the organisation will be able to cultivate a strong communication
network and interpersonal relationship in the organisation. As a started company, “Hunger
Heaven” should follow informal communication process to promote its business beneficially.
On the other hand, the informal communication process helps the management to play an
essential supportive role for the employees during any problematic situations.
The authority of the organisation will be able to come much attached with its staffs
and motivate them perfectly towards its tasks. The authority of the organisation will be able
to exchange all types of informal with its employees very spontaneously through informal
communication process. There is an opportunity to flow all information freely in informal
communication process, the management must be used this opportunity in its industry
appropriately.
To make improvements in the level of communication, the owner must clearly define
all the employees and managers about the process through which the communication cam be
established. Besides this, it must be focussed by the firm that levels of communication are
less and the organisational structure is also short so that the communication can be more
direct and based on less levels. It is apparent that, if the levels of communication are more,
then the message or content to be communicated can reach to the intended receiver in
distorted form. Apart from this, to make improvements, the manger must ensure that each
person is clear about his roles and responsibilities along with knowledge of their
accountabilities towards particular manger. Further, there should be a provision to break the
chain of command and long communication levels at the time of emergency situations.
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3.3 Implement improvements to ensure greater integration of systems of appropriate
communication process to support future growth
“Hunger Heaven” Food Company will be able to ensure its success by appropriate
following different types of communication procedure. The organisation will be to achieve
success in its new business by utilizing the advantages of formal, informal, upward and
downward communication process. By following formal communication system, “Hunger
Heaven” Food Company will determine its success because the entire process follows a
specific government rules and regulations. For that, reason all employees of the organisation
will aware of the medium and the applying fields of any specific message. The organisation
will be able to avoid all possibilities of failure by utilizing formal communication process. By
using formal communication process, the organisation will be able to maximize the efficiency
and discipline in the organisation. “Hunger Heaven” Food Company will reduce errors and
failure and ensure success. Other side, by using informal communication process, the
management will be able to know the problems of an individual employee try to solve it as
soon as possible.
A strong relationship ensures the possibility of succession of “Hunger Heaven” Food
Company, so the informal method of communication is the best way to develop the relation
between the workers and the management. Often the employees cannot be able to do its best
performances for its personal emotional issues, the management will be able to attached and
provide relieved from those issues to its employees through informal communication process.
The management will be able to collect perfect feedback from its employees, which help
them for financial and organisational development. The management of “Hunger Heaven”
Food Company will be able to exercise the feelings of respect and importance between its
staffs by collecting reviews from them. Finally, downward communication refers the
communication where the orders are received only from the top management and it flow
down to the workers.
3.4 The role of the learner as the leader of business, create a personal development plan
to improve communication skills
As a leader, the learner will play an effective and essential role to motivate its staffs.
The management will be very aware of identify and recruit the perfect person as a leader. To
improve the communication skills and profit in business the leader should cultivate its role
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with great efficiency. Being a leader, the learner should be a good listener, have a clear vision
regarding the tasks and the goal of “Hunger heaven” Food Company.
1. Vision: As a leader, the learner should evaluate the roles and responsibilities of its
employees. Provides a clear vision of their goals, the learner should advice their employees
regarding the perfect path of success.
2. Fix a definite goal: The learner should fix a perfect goal with appropriate time
lines, which ensures the success of “Hunger Heaven” Food Company. Beside this, the leader
will be able to achieve success when the learner does not ignore any failure. The learner will
explain the weak points and the previous failures of the organisation briefly then creates a
perfect map to execute its plan properly.
3. Develop the communication skills: To be a great leader, the learner must be a
great communicator and provides clear concept of intentions and expectations to its
employees. The leader should strive to develop non-verbal and listening skills. The leader
should listen and solve the problems of its employees properly by improving excellent
communication skills with them.
4. Encourage the employees: The learner should inspire its followers to motivate
them towards its goal without any frustration of previous failure. The leader will reduce the
feelings of guilt among the employees of previous failure.
LO4: Able to improve system relating to information and knowledge
4.1 Reporting on existing approaches to the collecting, formatting, storage and
dissemination of information and knowledge
In the words of Louise Hamilton et al. (2014, p. 59), being a newly launched food
supplier, the succession of any organisation is mostly depended on the proper collection of
data and information regarding its employees working profiles, skills, and all possibilities of
profits and failure of the project also.
Factors Example Comment
1. Effective Survey The organisation should
organise this type of survey
one time.
“Hunger Heaven” Food
Company will organise its
survey in market area
because the organisation will
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be able to collect huge
numbers of consumers in the
market area. On the other
hand, the organisation will be
can to collect reviews
through opinion polls and
effective census.
2.Intelligent observation The major method of
collection of proper data and
information is an intelligence
observation. By the help of
an observation among the
viewers, the management of
“Hunger Heaven” Food
Company will be able to
know the actual demands and
the response of its start-up
company.
The management should
choose some efficient staffs
to collect and assess the
actual demands of its
consumers.
3.Outside purchasing
factors
“Hunger Heaven” Food
Company should identify
some easily available factors
which is also low in price, to
promote its business. Like
providing low transportation
services to supply the foods
to its service-users.
The organisation will collect
information through data
base information and
research market studies.
Table 2: The various approach of collecting data
(Source: Louise Hamilton et al. 2014)
4.2 Caring out appropriate changes to improve collection, formatting, storage, and
dissemination of information and knowledge
The perfect changes to develop collection, formatting, storage information and
knowledge, “Hunger Heaven” Food Company should be carried out all types of political and
social activities. The supervisor will be very aware of the transformation procedure. The
start- up Food Company, “Hunger Heaven” Food Company must have an excellence
transportation services. On the other hand, in the perspective of communication process the
organisation must have an effective electrical communication process. According to Beranek,
2006 an advanced communication technology helps the organisation to save huge times. The
management of the organisation and employees also will be able to spend those costly times
in its production. To save the time, the management should be ready and aware of the
collecting of available resources. Thus, the organisation will be able to increase its profits
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very soon and easily. The succession of the organisation mostly depended on the co-
ordination between the supervisor and the employees. Therefore, an appropriate co-ordination
process helps the management of the organisation to continue its business. The
communication process of the organisation should have the wonderful power of management,
which is needed by the company.
4.3 Implementation a strategy to improve access system of information and knowledge
to provide strength to its business and help it to continue its future growth
The “hunger heaven” Food Company will be able to improve its standard by
providing the flow of effective information and knowledge. The main responsibility of the
management of “Hunger Heaven” Food Company is to identify the perfect person as a
supervisor. In the words of Johnston et al. (2013, p.40) the supervisor becomes the pillar of
the organisation. In the words of Grant (2016, p.42), the supervisor reduces the servicing time
by using modern technology of communication. Therefore, the management should choose
the supervisor very consciously. In the words of Davenport, (2013, p.412), the organisation
can hire a consultant to manage its entire process of service. Then a third party will interfere
in their service process, it may be beneficial to “Hunger Heaven” Food Company. Beside
this, the management should indicate the roles and the limitation of power of this outside
consultant for the organisation.
Conclusion
In this assignment, the learner has been satisfied its job properly. The learner has
elaborated the entire information and knowledge, which ensure to take any effective
decisions. The learner has discussed the internal and external sources of understanding and
information. The learner has evaluated all major recommendations and strategies for
improvement. Then the learner has explained a personal plan, which executes to improve its
communication skills. The learner has described all appropriate changes, which are taken to
improve the formatting and storage of information and knowledge. Then, the learner has
explained the entire improvements, which ensure greater integration of systems of
communication in “Hunger Heaven” Food Company. The learner has evaluated the strategy
to improve access to systems of information and knowledge. Last of all, it was a mind-
blowing experience for the learner in this assignment.
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