Discuss about the Business Communication for Fundamentals of Oral Communication.
To live is to communicate. Every phase of existence requires communication. Business is one of the phases of human existence, so it needs communication. During the course of participation it becomes important to receive as well as to give. This participation process can take a form of interacting, writing or talking, etc. all of this can be termed as communication. Today’s business world has become global, that makes communication even more complex. In order to communicate across the cultures & borders, it needs communication sills which would help individuals from different places across the world to interact with each other, so that they can work on attaining the common goal. Once we move one step ahead from the bottom our effectiveness depends on our ability to reach others via written or spoken words (Krizan, Merrier, Logan & Willliams, 2007).
Communication is an English word, which has been derived from the Latin noun ‘communis’ & Latin verb ‘communicare’ meaning ‘to make common’. This word communication is a much-hyped in the contemporary world. Term communication includes a multitude of events, actions & experiences, as well as complete range of technologies, meanings & happenings too. Conference, meetings or even a procession hence could be a communication event. Television, videos, radio & newspaper are all “communication media” & camera crew, public relation persons, advertisers, newspapers & journalists are all “communication personals”. Communication is the mechanisms by human relations are developed & have existence. According to some researchers the definition of communication limits to “a process whereby one individual tells another something through spoken or written words (Locker, 2007).
In today’s world, communication has become so significant for the business organizations; the companies require & want the people who have excellent communication skills. Many surveys have been conducted which clearly indicate that communication is vital to business. Regrettably the requirement for employees having excellent communication skills is often not satisfied in the business world. According to a recent research, there is a correlation between income & communication. Good speaking & writing skills, (along with proper listening skills & etiquettes) defines the career success. In simple words, having excellent skills of communication will lead to advancement of career. The usage of technology in communication forms the skills to communicate more obvious. Over the span of years, many researchers have realized the communication importance in an organization. According to Chester Branard, communication can be defined as the way by which individuals are links together in an organization to attain a common objective. Managers considered activities which involves direct communication with other to be more valuable & interesting than other activities. Developing communication skills will result in the development of reading, speaking, writing & visual skills (Ober, 2004).
The success of the organization primarily depends on the level of commitment with numerous stakeholders of the company, the message content that needs to be communication, way in which it has to be conducted & tools opted to communicate. As per the surveys conducted by BBC and researchers, a manager spends approx. 80% of their time in having direct communication with stakeholders that could either be clients, customers, suppliers & employees. The direct communication in an organization takes place with the assistance of emails, video conferencing, individual conversation, teleconferencing, etc. The 80% of the time in a day means approx. 6 hours and 30 minutes out of the shift of 8 hours a day. Moreover, organization’s managers, rely on huge array of communication technology & organizational communication majorly consists of telephones, newspapers, magazines & televisions.
Technology has changes business in numerous ways in past 20 years; however, its impact on communication is debatably the most important. Indeed as per Walden University College of Technology & Management, communication via instant messaging, text messages, E-mails & even budding tools such as social networking have remained amongst the utmost reflective effects of technology on all business areas. However, technology do make the business communication easier & faster, it has also sometimes made the communication quite distracting & unclear.
Technology has reshaped the way business is being conducted & the way communication takes place with the stakeholders. Few improvements that have been brought by communication to the organisations are listed below:
Now, we’ll describe social networks & how these social networks affect the way businesses are operating today. Also, we’ll explain how the implementation of social media in ANZ Bank will benefit the organization. At last we’ll discuss the challenges that are being faced due to social media in the workplace.
ANZ is the world’s leading bank with the presence in around 34 primary markets in NewZeland, Australia, throughout the Pacific, Asia & Middle East America & Europe. ANZ provided a wide variety of financial & banking products & services to more than six million retail customers & employs more than 40,000 employees worldwide.
With today’s scientific developments, all forms of businesses require to adapt the latest technologies available in the world. Presently, social media is the latest technology that is available and which is transforming the corporate world. Hence all companies should understand how social media can impact the way business are promoting their services & products, sharing information & communicating.
Since last two fifty years, people have been dependent on messengers, the telephones, telegrams & postal services to communicate with each other. However, within last 20 years, there have been momentous advancements in technology which has transformed communication practices (Emanuel, 2005).
Social media states to the activities, behaviours & practices between communities of people who together meet online to share information, opinions and knowledge using conversational media. Taking into consideration that social networks are affecting billions of individuals to come together in one (even though virtual) location, business can use that location to their benefit. Social media is an effective & quick way for individuals to share or communicate information by sending instant messages, recording their lives in little ‘tech bytes’, & sharing their sentiments by posting comments on the internet.
Sharing Information: Individuals went from living in “a world where the news & information was detained by a few & spread to billions, to a world where the information is detailed by billions & dispersed to a few”. More prominently, consumers can now access this information free & even associate the information which is more specific. Rather than taking the subscription of an expensive magazine or newspaper, consumers can get free content from their colleagues, friends & relatives. Individuals are now finding time to deliver information to others. Taking into consideration the fact, organizations may want to react by building their own blog or even their social networks personality. By sharing the information, People desire to share (instead of depending on the information others opt to share), organizations safeguard their survival. They might even grow their sales & attain greater margins of profit.
Promoting services & products: Advertising is moving “to digital channels for 3 main reasons, the audience has moved there, it is easier to track & it is cost effective. Marketers call this action plan as social media strategy. Presently, most of the organizations fail to use social media to their completest potential. The key to embrace social media is to share only the most fascinating of information, keeping content concise & small & promoting merely offers which are “helpful & actionable”. Allowing customers to contribute to the information is never a poor idea. Usage of social networks also permits for “almost prompt feedback that gives organizations the opportunity to increase customer satisfaction & implement damage control.” Manifestly, social media can aid the organizations to promote their services & products which should assist in development of brand loyalty amongst consumers.
Technology has distorted the way organizations do business. Social media have opened the door to a completely new way of communicating. Consumers have the capacity to access a wide diversity of online data. Rather than trusting radio & television advertisements, they are going directly to their peers. Organizations can use this to their benefits by getting involved in the social media world. But before the first get started using the social media strategy, they should analyse the pros & corns of social media (Bovee, Thrill, 2004).
ANZ bank uses certain information communication technologies to compete with their competitors available in the industry, in order to attain competitive advantage. Few of these strategies adopted by ANZ bank are listed below:
Hence, to drawn a conclusion, it can be said that there has been a tremendous advancement in the communication technology & IT field in past 20 years. These changes have completely changed the way the organization operates & functions their business in today’s world. With the help of technology better ways & modes of commination have been developed. The future of business relies in the use of Social Media, as organizations are able to improve their relations with consumers, generate innovative ideas by following this modern tool.
References
Bovee, C.L. & Thill, J.V. (2004). Business Communication Today (8th ed.). New York: McGraw-Hill.
Emanuel, R. (2005). The Case for Fundamentals of Oral Communication. Community College Journal of Research and Practice. 29 (2), 153-162.
Guffey, M. E., Rhodes, K., & Patricia, R. (2011). Business Communication: Process and Product (6th ed.). Nelson.
Krizan, A.C., Merrier, P., Logan, J., & Williams, K. (2007). Business Communication Instructor’s Edition. Mason, OH: Thomson/South-Western.
Locker, K, O. (2007). Business Communication Building Critical Skills. New York: McGraw-Hill Companies, Inc.
Ober, S. (2004). Fundamentals of Contemporary Business Communication. U.S.A: Houghton Mifflin Company.
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