Report writing is an essential skill for professionals in almost every field. Each kind of report has its characteristics. An enquiry report or a survey report is essentially a fact-finding report and should bring out the facts clearly. A Directors’ Report, on the other hand, is the detailing of the developments or the progress relating to the business organization during a particular period. A committee report may not only bring out facts and figures, but also cover the alternative viewpoints expressed by the members and final recommendations. Notwithstanding these features specific to the reports, there are certain essential features of good business report writing: Issue in perspective: The first essential for any good report is to bring out the issue in its proper perspective emphasizing the pros and cons. Be it a progress report; a survey report, an analytical report or an enquiry report, the subject should be presented in Continue reading
Communication in Business
Effective Communications in Investor Relations
Corporations worldwide work daily to increase the value of their stock for the investing public. In order to exploit this value, businesses must constantly make every effort to extensively communicate to their investors and potential investors. In view of this, investor relations are a vital part of business strategy, principally in the area of communication. Corporate departments involved with investor directions must make a necessary connection between efficient communication and company goals. Since communication is starting to play such an important role in investor relations, corporate communication programs are being created not only to participate in financial areas, but also to take part in media relations and other public communication. Ultimately, the best way for corporations to understand communications for investor relations is to look at an overview of the investor relations function, know how to organize investor relations, learn about investor relations programs and be informed on investor relations Continue reading
Written Communication in Business
Need for Written Media of Communication The old style of communication did not have public relation, advertising, technology and many aspects of modern day communication. They would converse almost daily and instruction was given verbally to people who worked together in an organization. Also the number of people working together in any organization was less and so they could easily inspect, direct and judge the work of the employees. But today, organizations have a team of qualified person to carry out assignments. These specialists and experts have to communicate their ideas to one another and also to the management. This flow of information is necessary to be maintained through written medial because of the complexity of all these activities. The written media is like the human sensory organs and memory power, which receives analyses and records the information for the purpose of decision making in the future. Written media helps Continue reading
Consensus and Its Significance in Business
What is Consensus? The concept of consensus has become quite familiar and desirable means of informal business communication not only in the political fields but also in the commercial spheres as well. It is a common agreement of opinion on a given problem among the majority of people in a group or community. The board meeting of commercial organizations takes certain decisions through consensus. Sometimes, merely a copy of resolution is circulated among the members of a particular group to get their approval. When the decisions are taken unanimously, the unity of the group is recognized. It projects a good image of the business house and the status of the organization is raised. It also suggests high morale of the management to the employees, customers, shareholders, and other people. Consensus does not mean that there exist no opposite views among the members of the group. Of course, perfect unanimity should Continue reading
Upward Communication in Business
Communication is a process where a message sender intentionally stimulates a desired message in the mind of a receiver. Sometime the speaker’s purpose is to inform, to entertain, and to persuade or is a combination of all three. Understanding from the outset that the intent is to persuade, the communicator will entertain and inform while influencing the receiver to select a specific course of action. Traditional administrators always understood the importance of communication skills. To be successful, they sent messages that clearly outlined what they wanted and how it should be done. They practiced their communication skills daily by sending messages upward, downward and horizontally in the organization. Administrators generally transmitted information upward in the organization relating to job assignment, performance, problems, organization practices or policies and the methodology for accomplishing tasks. They understood that positive upward communication was more likely to be used by those above them than negative Continue reading
Verbal Communication in Business
Meaning and Importance of Verbal Communication Our spoken words have greater impact than that of the sword taken out of the scabbard. The speeches of famous leaders and revolutionaries have had the greatest impact on people resulting in movements and revolutions. The words can encourage the people to take over and complete the tasks beyond their ability. On the other hand, the worlds can dis-spirit and discourage the people from doing even their routine jobs. Oral communication is vital to human relationships in every business organization as well as social gatherings. We talk to people for many purposes. We may talk in order to escape boredom, to get acquainted with a newcomer, to warn the person about his or her misbehavior, to suggest novel ideas to other people who work with us, to instruct others, and for a number of other purposes. Much of the professional and business communication through Continue reading