In the modern corporate world today, effective communication is vital in any type of businesses, because it builds a close interaction among each of the members from all the departments in an organization. It also can determine whether a business success or a business failure of the organization will be. Moreover, it does help the relationships to develop along good lines, and ensure that arguments and disagreements are kept to a minimum. For example, good communication skill is very important in partnership, so that the partners can avoid the problems of misunderstanding and petty quarrels. We can measure the importance of communication skills in business sector when we take a look at the job advertisement. Candidates with good communication skills seemed to be the single most repeated phrase in the job qualification requirement. And, the ability of good communication is also the most basic of job skills. There is almost Continue reading
Communication in Business
Business Letter – Meaning, Purpose and Components
A letter is price of conversation by post. It is the most important means of written communication. Every organization has to maintain contacts with its customers, suppliers, Government Department and so on. The organization has also to exchange information with various parties. Placing orders, soliciting enquires, executing orders etc. require communication. For such type of communication the media used by the organization is a letter. This letter is known as business letter. In the words of H. A. Murphy and others, “The medium used most often for written messages to persons outside your organization is the business letter.” W. J. Weston said, “Business letter is the process of accomplishing business transaction in written form.” The Purposes of a Business Letter Business people have to communicate with the suppliers, debtors, creditors, customers and with other concerned parties to exchange information. Business letters are basically used to communicate with the above parties. According to Ricks and Continue reading
Case Study: Cadbury Crisis Management (Worm Controversy)
In India chocolate consumption was very low in the early 90’s but as the decade advanced the consumption drastically increased. The late 90’s witnessed a good chocolate market condition. The chocolate market in India is dominated by two multinational companies — Cadbury and Nestle. The national companies – Amul and Campco are other candidates in this race. Cadbury holds more than 70% of the total share of the market. Nestle has emerged by holding almost 20% of the total share. Apart from chocolate segment, there is also a big confectionery segment which is flooded by companies like Parry’s, Ravalgaon, Candico and Nutrine. All these are leading national players. The multinational companies like the Cadbury, Nestle and Perfetti are the new entrants in the sugar confectionery market. (Management paradise) There are several others which have a minor share in these two segments. According to statistics, the chocolate consumption in India is Continue reading
Multiparty Negotiation
Multiparty negotiation is a negotiation process in where more than two parties are working together to reach a collective objective. In the multiparty negotiation process, each party has his own preferences and priorities. Therefore, a meeting is required to make a discussion about the best options for everybody and make a collective decision. This is a multiparty negotiation that involves unique dynamics in a collective decision-making process. However, the process is not that easy to manage. There are factors that make multiparty negotiations more difficult to manage than one-on-one negotiation. First of all, number of parties makes the negotiation become bigger and create challenges for managing several different perspectives. It is difficult to ensure that each party has enough time to speak his own preference and be heard. Secondly, informational and computational complexity brings in more issues, more perspectives on issues, and more total information. Increasing the number of parties Continue reading
The Importance of Non-Verbal Communication
Non-verbal communication refers to all those messages excluding spoken words. Those messages are body language such as gesture, facial expressions, eye contact and body posture. For instance, smile on our friends face on seeing us, before they utter even a greeting word, when we go to meet them after long time indicates that he or she is happy to see us. Touch is another cue of non-verbal communications. It helps in indicating a person’s feelings or expressions, closeness, and illustrates characteristics of that person. A firm and stiff handshake or warm and lovely hug signify obviously different than a loose one. Never the less, the sound, pitch, tone and volume of our voice while we are communicating can also be referred as forms of non-verbal communication. Voice use intonation, tone and vocally produced sounds. We use the pitch of voice to differentiate whether the sentence is a command, or advice Continue reading
Sales Letters – Meaning and Importance
Although the primary aim of sales letters or offers is publicity yet it is the most important written form of business communication. It reaches out to a large number of people interested in a particular product or service and turn them into buyers. Even if people are not interested in the product, them the aim of this letter is to make them interested in it. Starting with the assumption that the receiver may resist the offer, the sales letter has to be persuasive or powerful enough to make recipient act. They are unsolicited letters, mostly written by professional writers. The effectiveness of such letters depends on the writer’s ability to use language suited to his purpose that is above all to influence the recipient – his thinking, taste and behavior. This is the aim of persuasion. Sales letters are, therefore, persuasive or indirect approach letters. Sales letters are the best Continue reading