Analysis of Managing Communications, Knowledge, and Information Report

This report provides a comprehensive analysis of managing communications, knowledge, and information within the context of starting a new business. It explores crucial decision-making areas, including financial planning, market segmentation, and competitor analysis. The report delves into the knowledge required for informed decision-making, encompassing market research, budget allocation, and customer surveys. It examines both internal and external information sources, recommending improvements in data selection and analysis methods such as forecasting, policy reviews, and employee involvement. The report also addresses stakeholder management, identifying key stakeholders like employees, customers, suppliers, and government entities. It outlines strategies for building strong stakeholder relationships through meetings, social interactions, and communication channels. Furthermore, it details the involvement of stakeholders in the decision-making process, particularly regarding pricing and location strategies. Finally, the report suggests strategies for continuous improvement in stakeholder management, focusing on customer feedback and competitive pricing.

Managing Communications,
Knowledge and Information

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Different decisions to be made and an examination of the information...............................1
1.2 Knowledge required to make the decisions in relation to starting up a business..................2
1.3 Internal and external sources of information and understanding..........................................2
1.4 Recommending improvement in methods used in the selection and analysis of information
.....................................................................................................................................................3
2.1 List of stakeholder who action affect the decision making processes..................................3
2.2 Methods to develop business relationship with stakeholders...............................................4
2.3 Involvement of stakeholders in the decision making process...............................................4
2.4 Strategy for future improvements in this process.................................................................5
TASK 2............................................................................................................................................6
3.1 Existing process for communication.....................................................................................6
3.2 Different communication processes that will be appropriate for the business......................6
3.3 Integration of communication system for implementation of improvements.......................8
3.4 Personal development plan for improving communication skills.........................................8
4.1 Existing approaches to the collection, formatting, storage and dissemination of
information and knowledge.........................................................................................................9
4.2 Appropriate changes to improve collection, formatting, storage and dissemination of
information and knowledge.........................................................................................................9
4.3 Strategy to improve access to systems of information and knowledge to strengthen the
business.....................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Managing communication can be determined as a systematic implementation, planning
and 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, Wang
and Taylor, 2012). Main aim of any organization is to gain maximum profit and this is possible
when customers are satisfied. In this context, different set of strategies are implemented so that
they will be able to attract more and more customer's. Present report is about starting up a new
business that will provide customers with high quality foods. This report covers different type of
decision that has to be taken in order to start up new venture. Further, it covers recommendations
that will improve the analysis of information needed for business start-ups. Moreover, it covers
comparison among various communication process that will be helpful for the growth of the
business. Lastly, it also includes appropriate changes to improve collection, formatting, storage
and dissemination of information and knowledge.
TASK 1
1.1 Different decisions to be made and an examination of the information
There are different areas that has to be considered and planned so that business operations
can be performed in an effective manner. There are organization that provide their customers
with similar products and services (Aurum, Jeffery and Handzic, 2013). In this context, it is
essential that firm make use of strategies and below given are major decisions that has to be
considered for starting up of new business:
Financial position: Finance play vital role because there are different aspects that has to
be considered and it requires financial support so that will enable to start up the business. Proper
decision 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 audience
and segmentation has to be done as it becomes easy to develop strategies as per the preference of
audience (Becerra-Fernandez and Sabherwal, 2014). In addition to this, it also enables to develop
type of product and services that has to be delivered to customers.
Competitors: It is essential to analyse strategies that is applied by competitors. This
enables to develop different strategies with the help of which new business will be able to
develop positive perception among customers mind.
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1.2 Knowledge required to make the decisions in relation to starting up a business
Firm needs to make sure different aspects so as to make effective decision. It is the
responsibility of management team to make sure that that proper information and knowledge is
gathered. Below given are the knowledge and information that is required in relation to start up a
business: Research: This is the initial stage that should be considered and it enables to know taste
and preference of customers (Galegher, Kraut and Egido, 2014). This will be helpful in
develop understanding and knowledge in relation with starting up a business. Preference to target market: When target market are decided, then business will be able
to know specific areas in which they should work on. Products can be developed that will
be aimed for attracting customers. Budget: For starting a business, the people involved should know the total budget. This
will enable to set up plans as activities have certain expenses and these all need to
management 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 opportunities
prevail (Alhawari, Karadsheh and Mansour, 2012). This way firm will be able to gain
proper knowledge and information that is required in development of business.
1.3 Internal and external sources of information and understanding
Both internal and external source are very helpful and important for the business to gather
information. It enables to make decision at global level. Internals sources of organization
includes employees, suggestion boxes, complain boxes, feedback records, etc. (Bloom, Garicano
and Van Reenen, 2014). On the other hand, external sources includes dealers, vendors,
competition, internet, etc. Employees with the organization have direct interaction with
customers and so they know better about the issues that are faced b y service users. They are
helpful to provide valuable information regarding the problems or issues. Accordingly, changes
can 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 one
deliver the materials that are used to make finished goods. They provide proper information and
cost is also decided as per the cost that suppliers demand. Further, internet play vital role in
knowing about the market and different strategies that are implemented by competitors
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(Marchewka, 2014). Management can gather information can develop proper plan through which
the aims and objectives can be attained.
1.4 Recommending improvement in methods used in the selection and analysis of information
In order to make improvement in the methods that is used in analysis and selection of
information new business can follow below given strategies:
Forecasting method: This method will enable the organization to determine their sales
and profit margin (Staab and Studer, 2013). When sales and profit are set, then management will
be able to set out target and make decision effectively.
Review of policies: Proper review of policies should be made. There are cases in which
workers may not feel comfortable in following them. In this context, management should
consider the policies as it will be helpful in making decision as per the preference of employees.
Determining fluctuations: Changes in taste and preference take place frequently and it is
important business understand these changes. This can be done through frequent monitoring of
market and researchers. It will enable to make proper decisions for the business and to attain
their goals.
Involvement of employees: Employees are the one who present the services to customers.
It is important that they have no confusion for their part of job (Davenport, 2013). There should
be strong relationship with workers so that they share the issues that are faced by customers and
accordingly decision can me made by which improvement is possible.
2.1 List of stakeholder who action affect the decision making processes
Stakeholders can be determined as people who make investment in the operations of
organization. There are few stakeholders whose action affects the decision making process. In
this context, below given are few of them:
Employees: Employees have direct interaction with customers. It is important for them to
have certain set of skills so that better services can be provided (David and David, 2016).
Decision making of the organization gets affected if workers do not perform their part of roles
and responsibilities effectively and efficiently.
Customers: They are the one from which management gets to know whether they are
gaining profit or incurring losses. Decision making gets affected if management fails to
understand their customers requirements through the products and services they provide to them.
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Business will not be able to satisfy their customers and the plan made will get affected
negatively.
Suppliers: They are the one who provide material for the organization. It is important that
management have strong relationship with them (Hwang and Ng, 2013). If they do not deliver
the material on time, then it would affect the sales and customers would develop negative
perception for the product.
Government: Decision making gets affected with government make frequent changes in
the policies like monitory and fiscal. When rates of these policies are raised, then the price of
products also increase and this affects the business operations.
2.2 Methods to develop business relationship with stakeholders
When stakeholders are selected, then next step is to select ways through which strong
relation is developed. In this context, below given are few ways through which it is possible to
develop business relationship:
Meetings: So as to develop strong relationship with stakeholders, meeting are conduced.
It enables to convey all the information related with the changes or implementations that has to
be conveyed (Eliasson, 2012). This is helpful to develop strong relationship with stakeholders as
they develop a feeling of trust and confidence. They also understand that they are important for
the management.
Socially: This can be determined as one of effective strategies through which strong bond
can be developed. In this context, it includes informal meetings outside the organization.
Stakeholders feel free and relaxed and this enables them to share their issues or problems. In
addition to this, it helps them to know expectations and needs of these stakeholders.
Calls and mails: Through calls and mails, it develops level of communications. Further,
all the activities that are undertaken within their part of job (Gillespie, Boczkowski and Foot,
2014). This helps to know their interest and willingness towards the works. Further, sharing daily
activities enables to develop strong relationship with stakeholders.
2.3 Involvement of stakeholders in the decision making process
In order to make involvement of stakeholders towards the decision making process,
organization needs to followed below given plan that will be helpful:
Pricing strategy: Price is an important factor that affects the buying behaviours of
customers. In this context, it is important that firm develop strategies related with price that will
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help to grab attention of customers. In order to make decision for price and to involve
stakeholders below given steps should be followed:
 Meeting should be conducted with all stakeholders. Time of meeting and topic should be
conveyed (Prytherch, 2016).
 Objectives should be shared and the price for which product and services that is to be
sold should be conveyed.
 Suggestion should be taken from stakeholder with regard to pricing strategy. A proper report should be made that includes the factors that affect the success and
failure of product with regard to pricing.
Location strategy: Place of the business also matters. When organization is established at
a place were the population is high, then more people will make use of the services. Below given
are ways to make decision:
 Information should be provided to stakeholder through emails, phone calls, etc.
 All the best locations that has been decided should be shared with them (Aurum, Jeffery
and Handzic, 2013).
 Suggestions should be taken from all stakeholder and issues or benefits that firm will get
from that places should be noted down.
 Report should be made and the most preferable location needs to be selected that
provides them with high profitability.
2.4 Strategy for future improvements in this process
In order to manage the stakeholder of the new business. Below given strategies can be
implemented:
 The price of the products and services should be kept low as it will be helpful in
developing strong customer base.
 Feedback should be collected from customers (Abdelhak, Grostick and Hanken, 2014).
As they are the one who make use of the services so they know better about the issues
that products and services have,
 Workers should be given proper training so that they get to know the issues that they can
clarify all their doubts that they have in relation with the job they perform.
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 Employees should be given with the opportunity to share their views as they can provide
proper strategies to make improvement. This way firm will be able to achieve their
organizational goals and objectives.
TASK 2
3.1 Existing process for communication
Communication can be determined as a process in which information is conveyed by a
person to another (Communication process, 2013). Currently, there are seven components that
are used in communication process and these are helpful to make present the idea to other
effectively. In this context, below given are seven components:
Sender: The person who come ups with an idea is the sender. The process of
communication begins immediately when idea is developed.
Message: This can be determined as the idea or the information that has to be conveyed
to others.
Encoding: It is the source that is used by sender with the help of which information is
provided to others (Stadtler, 2015). Information is converted into language or symbols.
Media: This is the mode that is used by sender to present the information. In this context,
it includes mode like letter, message, internet, etc.
Decoding: It is a process in which the message given by sender is encoded in to language
and this is process is called decoding.
Receiver: It is the person or the audience for whom message was made.
Feedback: After listening to the information the response that receiver made towards the
message is the feedback.
3.2 Different communication processes that will be appropriate for the business
There are many way through which communication is possible in the business. In this
context, below given are the few of communication process:
Wheel pattern: This is a type of communicate process in which all the employees or
managers will report to a signal person who will be the head (Communication network, 2014).
All the information will be provided by the person at the centre and others have to follow them.
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Circular pattern: As per this communication process, the information will flow in an
circular form. One of the negative impact is that when the information reaches the last person,
then actual details gets missing or gets changed.
Free flow: In this type of process, all the employees are free to communicate with any
person at any level freely and directly (Von Solms and Van Niekerk, 2013). It is quick and issues
and changes are immediately considered and are implemented.
Among all these communications process, the new business should make use of free flow
as it will enable to convey information effectively and efficiently. Workers will not have any
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type of confusions in relation with their work or changes. Each and every employee will get
required information and all will act accordingly.
3.3 Integration of communication system for implementation of improvements
So as to reduce integration system of communication, it is important for management to
identify the employees who are the required for each of the activities. It will enable the
organization to know requirement for each of the vacant post. Employees can be hired as per
needs and wants (Von Krogh, 2012). Further, it is also essential that firm identifies the
employees who do not perform their tasks effectively or employees who are of not much
importance should be removed. The newly hired employees should be provided with proper
description about the roles and responsibilities that has to be played by them. As per the case,
there is another business that has to be bought and for the same, management needs to hire new
candidates who will be able to support the firm in achieving the organizational goals and
objectives. As per the communication process selected that is free flow allows employees to have
direct interaction with others. Further, it provides the opportunity to share the views with anyone
in the organization (Liebowitz and Frank, 2016). There are cases in which when there is effective
interaction, then they get to know the issues as workers have direct interaction with customers so
that they will be able to convey the issues.
3.4 Personal development plan for improving communication skills
Communication plays vital role in develop effective relationship with others. In this
context, below given are the plan or strategies with the help of which communication skills can
be improved:
Engaged listening: In order to have proper communication, one should have effective
listening skills. It enables to get engage on the topic of discussion and helps to know the mental
state of the other person (Barnaghi, Wang and Taylor, 2012). In addition to this, it also allows to
respond towards the topic that was discussed.
Non-verbal signals: It is important for one to have non verbal signals. In this context, it
includes voice tone, body gestures, eye contact, body language, etc. It enables to involve the
other person and make them understand the issues or any other type of information.
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Stress in check: When information is conveyed, then it is essential that one control their
mental and emotional state. The emotion should be as per the type of interaction or details one
conveys to other person.
Avoid conversation fillers: One should avoid use of Um's and ah's (Becerra-Fernandez
and Sabherwal, 2014). For effective communication, use of these type of words should be
avoided.
I will consider these things and make sure that I follow them and this way I will be able
to make improve in my communication skills.
4.1 Existing approaches to the collection, formatting, storage and dissemination of information
and knowledge
In accordance with the given case, cited firm has made use of below given approaches
with the help of which they have attained the knowledge and information:
Collection: The traditional way is adopted for collecting information. All the departments
were evaluated and the data was sent to shareholders (Galegher, Kraut and Egido, 2014). This
enabled to know the over all performance level of cafe.
Formatting: All the information collected from the cafe of departments were converted
into annual reports, balance sheets, etc. This helped the organization to understand the
performance level and drawbacks which each area has.
Storage: Information that the organization has collected from cafe will be stored in the
computer system. This will enable to make proper evaluation and to come up with appropriate
solution. It helps the firm to develop strategies and to make sure that the information will be safe
no other person can access it.
Disseminating: In order to convey the information to other shareholder, management will
conduct meetings (Alhawari, Karadsheh and Mansour, 2012). In this meeting, stakeholders will
provide their suggestions and this way it will be decided whether the cafe has to be bought or
not.
4.2 Appropriate changes to improve collection, formatting, storage and dissemination of
information and knowledge
To make improvement in collection, formatting, storage and disseminating, management
can followed below given strategies:
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Collection: All the research should be provided with proper training so that they collect
reliable data (Bloom, Garicano and Van Reenen, 2014). There are cases which information
provided may not be proper or reliable. However, when researchers are professionals, then this
type of issues may not affect the data collected.
Formatting: It is essential that researcher know how to present the collected information
in an effective manner. When researchers will be trained, then they will be able to pre sent the
information systematically and other will be able to understand it.
Storage: So as to collect the data, research will make use of annual report of the cafe.
This will provide proper information regarding the performance of all the other departments.
However, it is important that employees have skills to know analyse the report and make proper
steps to understand it.
Disseminating: In order to present the information to other, management will make use of
Cloud data (Marchewka, 2014). It will enable to save and any stakeholder who is authorised to
access the information will be able to get and it and they will be able to provide effective
decision for the cafe.
4.3 Strategy to improve access to systems of information and knowledge to strengthen the
business
In order to make improvement in the information and knowledge so as to strengthen the
business, management should followed below given strategies:
 Reliability and sustainability should be emphasized by the organization in relation with
knowledge and information that is collected from internal and external sources (Staab and
Studer, 2013).
 SWOT analysis should be conducted as it enable the firm to know the areas in which
improvement is required and the opportunities that prevail for the business.
 Different systems like MIS, SAP, etc. should be implemented as it will enable to tract out
the data that will help in knowing the performance level.
 Meeting should be conducted frequently with stakeholder as this will be helpful in
develop strong relationship and in knowing the issues that are faced by them.
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