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Sunday, July 22, 2018

COMMERCE: FORM THREE: Topic 2 - COMMUNICATION

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TOPIC 2: COMMUNICATION

Meaning of the Term Communication
Define the term communication
Communication is the transmission of information from one point or person to another point or person. Involves two-way process of reaching mutual understanding, in which participants not only exchange (encode-decode) information, news, ideas and feelings but also create and share meaning. In general, communication is a means of connecting people or places. In business, it is a key function of management--an organization cannot operate without communication between levels, departments and employees. See also communications.
Communication is a function that is indispensable for commerce. All types of trade transactions, receiving of trade inquiries, sending of information about dispatch of goods, receiving of payment, etc.” Communication is a function that is indispensable for commerce. All types of trade transactions, receiving of trade inquiries, sending of information about dispatch of goods, receiving of payment, etc. are possible with the help of Communication
Trade business cannot function efficiently if the buyers and sellers do not make proper use of communication channels. It is through communication that all formalities of transaction are completed. An efficient communication system brings businessman close to each other not only in one country but in the whole world.
Management and supervision also remain incomplete and shabby in the absence of proper communication. Communication means sharing of ideas in common. When we communicate, we are trying to establish a rationale with someone. We are trying to share information, ideas or attitudes. Communication is basically the fine-tuning of the receiver and the sender, aimed at affecting a particular message.
The Nature of Communication
Explain the nature of communication
Seven major elements of communication process are: (1) sender (2) ideas (3) encoding (4) communication channel (5) receiver (6) decoding and (7) feedback.
Communication may be defined as a process concerning exchange of facts or ideas between persons holding different positions in an organisation to achieve mutual harmony. The communication process is dynamic in nature rather than a static phenomenon.
Communication process as such must be considered a continuous and dynamic inter-action, both affecting and being affected by many variables.
  1. Sender: The person who intends to convey the message with the intention of passing information and ideas to others is known as sender or communicator.
  2. Ideas: This is the subject matter of the communication. This may be an opinion, attitude, feelings, views, orders, or suggestions.
  3. Encoding: Since the subject matter of communication is theoretical and intangible, its further passing requires use of certain symbols such as words, actions or pictures etc. Conversion of subject matter into these symbols is the process of encoding.
  4. Communication Channel: The person who is interested in communicating has to choose the channel for sending the required information, ideas etc. This information is transmitted to the receiver through certain channels which may be either formal or informal.
  5. Receiver: Receiver is the person who receives the message or for whom the message is meant for. It is the receiver who tries to understand the message in the best possible manner in achieving the desired objectives.
  6. Decoding: The person who receives the message or symbol from the communicator tries to convert the same in such a way so that he may extract its meaning to his complete understanding.
  7. Feedback: Feedback is the process of ensuring that the receiver has received the message and understood in the same sense as sender meant it.
Importance of Communication to Business
Show the importance of communication to business
The Importance of Communication in Business
Imagine trying to run a business where no one of your staff communicates with each other. Departments would be out of sync, no one would be quite certain what was going on, and it would be impossible to work together on group projects. In other words, a lack of communication would cause serious efficiency problems, and at the end of the day that’s money out of the company’s pockets. Taking the time to keep everyone in the loop fixes all these issues, and for that reason it’s absolutely essential for every company to stress communication.
Unity
A company that works to develop strong communication with each other is a united company. Each team member shares the same goals in this case, and everyone knows what their co-workers have on their plate. By simply keeping in touch on a regular basis, everyone remains united and working together. This instils a cooperative atmosphere rather than encouraging the idea of having a bunch of individual people only looking out for themselves. All companies have a vision for their success, and through communication, that vision spreads to everyone. The result is a happier, healthier workplace where things get done more efficiently and a bigger likelihood of retaining the top talent.
Feedback
When communication is stressed, it creates an open environment where everyone feels comfortable talking with each other. When that level of comfort is present in a business, employees feel confident that they can express their ideas about the work process to each other and even to management. Feedback is a vital component of communication, and it works both ways. Management give feedback to the employees in regards to how well they’re faring at their duties, and employees feel safe giving feedback on how well the company’s policies and procedures are working. Communication is not communication if it only comes from one direction.
Improves Customer Relationships
No business would succeed without customers, and every company exists to serve them. Communicating with customers is every bit as important as communication within the workplace. Thankfully, this is easier today that it’s ever been, as there are a wide variety of ways to keep in touch with your customer base. Consider this course on connecting with your customer base through blogging for one method, but no matter what method you use to reach out to your customers, keeping constant communication going will bring your company much closer with the ones that spend the money on your products or services.
Furthermore, this type of communication also ensures your customers remain happy with you, since they can share their needs with you and make suggestions on what you can do to better serve them. When customers feel they are listened to and that their suggestions are implemented accordingly, the reputation of your business will grow and you will find yourself generating additional profit, not to mention that you will have more and more customers to communicate with.
It isn’t just sales that customer communication helps, however. Communication is perhaps even more essential when it comes to providing excellent customer service, something that any successful company must do. For any number of reasons, customers are not always happy with your company even if you did everything you could, but as long as you are able to communicate your concern for their satisfaction, you can turn any situation into a positive experience. Customers that are displeased with a company do not hesitate to share their bad experience with others. By communicating clearly with them, you and ensuring your business always delivers the finest customer service possible, and that’s another critical component of building customer relationships.
Improves Employee Relationships
No friendship is ever formed without a good level of communication. The more a company’s employees communicate with each other, the closer they will become naturally over time. Bear in mind that much of communication takes place without the need for words, so it’s important to master both verbal and non-verbal communication, both in the written form as well as body language.
Enforcing Rules
Every business must have a code of policies and procedures that must be followed in order for everyone to succeed. Maybe there is a specific process for a task, for example, or maybe there are certain consequences for underperforming. Either way, you want to make all this very clear to your employees, or it isn’t possible to do this without strong communication skills.
This kind of communication requires more than simply writing out a company manual and issuing it to each of the new hires on their first day. Any company knows that rules always need to be altered as things change and evolve over time, and it’s important to revisit how all of these changes affect your employees regularly. Even if the general company guidelines never shift, continually communicating expectations and policies is a good practice that will never fail. The outline for your business must be followed at all times, and without communicating about that outline, a company can’t expect the employees to stay within the lines on their own.
Enhanced Innovation
No matter how skilled and talented the people at the top of your company are, you can never have too many ideas. By encouraging everyone at your business, whether big or small, to openly share their thoughts without fear of being shut down, you will quickly notice the employees that have the most to add. Your best employees have ideas on how you can make your business run even better, and it’s wise to give them a chance to speak. A business can become more innovative overnight just by working together to be good communicators, and that’s bad news for your competition and good news for your revenue.
Clearly, the benefits of communication in a business are plentiful, and in fact it’s hard to imagine any kind of success at all without it. No matter what kind of business you have, and whether it’s big or small, one of the single most important determinants of success is communication. If you feel your business does not have the quality of communication it should, don’t wait another day to address that issue. There is no need for your company to suffer from something that can be so easily fixed with a little effort.
Various Types (Divisions or Classifications) of Communication
Identify the various types (divisions or classifications) of communication
Types of communication
Oral communication is the process of verbally transmitting information and ideas from one individual or group to another. Oral communication can be either Formal or Informal. Examples of informal oral communication include:
  • Face-to-face conversations
  • Telephone conversations
  • Discussions that take place at business meetings
Written communication involves any type of message that makes use of the written word. Written communication is the most important and the most effective of any mode of business communication.
Examples of written communications generally used with clients or other businesses include:
  • Email
  • Internet websites
  • Letters
  • Proposals
  • Telegrams,
  • Faxes
  • Postcards
  • Contracts
  • Advertisements
  • Brochures and
  • News releases.
Visual communication is the transmission of information and ideas using symbols and imagery. It is one of three main types of communication, along with verbal communication (speaking) and non-verbal communication (tone, body language, etc.). Visual communication is believed to be the type that people rely on most, and it includes signs, graphic designs, films, typography, and countless other examples.
Factors that Influence Choice of Communication Media
Point out the factors that influence choice of communication media
FACTORS WHICH SHOULD BE CONSIDERED IN CHOOSING A MEDIUM OF COMMUNICATION.
  1. Quickness/Speed There are many types of transactions conducted during the business hours. One must speed up the transmission of message on the basis of importance and urgency of transaction. If the party is available in the transacted place, oral communication is enough. If the party is residing in the same city, telephonic message is good: if outside the city, message through Subscribers' Trunk Dialing (STD). If much distance is there, then telegram can also be sent. If the matter is not urgent, a mere letter will be sufficient.
  2. Accuracy If the accuracy of the message is the prime motive, a letter will serve the purpose Telephonic conversation might be misheard by the other party. Even telegrams, sometimes lead to wrong conclusion. Therefore, success can be reaped by a letter, provided the letter is properly written. Therefore, the communication medium which is selected should ensure accuracy in the transmission of messages.
  3. Safety There is always risk when valuables are sent by post. Therefore, for safety purposes, important documents may be sent by registered post; for further safety by registered and insured post.
  4. Secrecy In business field, certain transactions have to be kept confidential. When one aims at secrecy, letter will achieve the aim. In other communication systems, secrecy may leak out to unwanted persons.
  5. Record Record of the message is essential and is possible only if it is in writing. For this purpose, duplicate copies of the letters can be preserved and they are good proof against disputes, relating to the transaction, in future. There is no record for oral communication.
  6. Cost The cost of communication is also important. Before adopting any system, the expenses in different means may also be considered. The material cost (stationery) and labour cost in preparing the letter will also be considered.
  7. Distance Distance between the persons who are parties to communication is an important factor. If distance is too short, face to face communication is suitable. If there is distance, message can be transmitted through phone or telegram or letter.
Barriers of Communication
  • Lack of skilled personnel in communication
  • Lack of modern communication equipment
  • increased in costs in communication
  • bad weather condition affects communication adversely.
  • remoteness of some areas makes them not easily accessible.






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