The Importance of Effective Communication for a Business to Achieve its Objectives
Effective communication within a business is the ability for that
business to communicate clearly and efficiently with any one of its
associated stakeholders. Inefficient communication can be a result of
the use of a wrong communication channel for the purpose, noise
interfering with the message, or inability's with the company
personnel making the communication. Effective communication can
motivate, improve relations and ultimately return greater dividends in
the long run.
Customers are a very important stakeholder to communicate with. In a
market let, or asset let company, direct customers, and the customers
which make up a market needed to be communicated with effectively in
order for market trends to be discovered. Knowing what's popular, or
what might soon be within a market could give a company ...view middle of the document...
"Employees are a companies greatest asset" and keeping these assets
means making sure that they are motivated and satisfied in their job.
Monitoring this and making sure that it is the case depends on
effective communication between employees and their managers.
Employee's need to feel as though they can speak to their managers
with any problems they may have, and so a correct channel of
communication needs to be selected and implemented for this. Face to
face would often be the best method. Removing any hygiene factors from
an employee's job through effective communication will help ensure
that they are motivate, which will lead to greater motivation, and
greater productivity. The grapevine effect between employee's which
are motivated is also likely to be a much more positive one than with
de-motivated employees conveying negative messages about their job
More and more companies are taking a "stakeholder" approach to
business now, instead of a "shareholder" approach. This means trying
to keep not only shareholders happy, but everyone who is effected by,
or effects the business. The local community around a business is a
very important stakeholder group to keep happy. Not only do they often
supply labour for a company, they may also generate a lot of their
sales, and if unhappy, could create a lot of trouble for the company.
Many different channels of communication may be required for this,
from meetings with locals councils, to press coverage in newspapers.
Continually monitoring what the local community think of a business
will allow them to try and adjust anything that the community are very
against. Informing them of any big changes or developments the company
may be making will also help reduce any shock or angst a community may
have. Good relations with the local community will help improve the
chance of people wanting to work their, reducing recruitment expenses.
In companies selling to the local community, sales are likely to
increase by keeping them happy through effective communication of
their needs. All of these will inevitably lead to increased profits
for the company.