Business Communication| Dictating Procedures

DICTATING PROCEDURES:

Remember these key points in dictating are similar to the steps in making an oral presentation.

1.     Identify the reader

2.     Determine the purpose of the communication.

3.     Organize the idea to the presented , and

4.     Outline the major and minor points to be covered in the dictation process

Of course, before you more forward with any these four points, you should know to use the equipment how to step, erase, pause, and play back. But with that knowledge in mind, you can be the dictation process.

Normally you will initial a letter or report or replying to the piece of correspondence just received .In any ease the reader must be identified .Is the recipient a customer? Dealer? Prospect? Employee? Government official? Next , what is your purpose? To complete a sale? Make an adjustment? Enter a claim? Refuse a request? Knowing the purpose is important for it is the purpose that often determines the organization of communication

Everyone has slightly different way of organizing or outlines the message to be dictated. Some individual prefer to enter the outline in the marginal or at the bottom of the letter being answered. Other find it easier to use a separate sheet of paper and some people are comfortable making up the outline in their heads. Regardless of the method, an outline is vital. When it has complete review it for.

1.     Logical sequence of ideas (obviously it is easier to move ideas around in the outline than it is in the finished letter or report;

2.     Possible omission of ideas; and

3.     Possible duplication or addition of unnecessary topics.

Now just one more point before dictating: Do you have the correct spelling of recipient`s name? The address Model number and specification data?

You will find a little practice will help you to become adopt as a dictator. And you will save a great deal of time in the bargain. The key is the outline if it is logical sufficiently detailed, and carefully edited dictating from it will prove to be very easy indeed.

The dictation should establish a reasonable speed of dictation; if you are dictating in word – processing center, the organization will have established norms for dictating speeds.

Be sure to be very clear in dictating. Pronounce words distinctly and spell any unusual word or names. Also provide the transaction with oral clues as to where you want certain kinds of punctuation.

Remember that he transaction may be very unfamiliar with the situation which you know well; thus it will be up to you to dictate in a manner that will enable the transcribe to produce perfect copy.

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SUGGESTIONS FOR BETTER DICTATION BUSINESS COMMUNICATION

SUGGESTIONS FOR BETTER DICTATION:

Before you dictate prepare! Know your purpose. Visualize your reader and consider also your security that will listen to your oral message and transcribe it. Collect all material and facts you will need for the content of your message. Organization your thoughts. Prepare an outline  - with keep words or phrases. If you are answering a letter, you might jot main point in its margin. Set aside sufficient time so you are not pressured and are free from interruptions – especially if your dictation is directly to a stenographer instead of to a machine.

Here are good oral practices to follow while dictating:

1 Dictate from your using language that follows the C’s principles and good organization.

2 Enunciate clearly. Very few people can speak clearly with candy gum or cigarette in their month. He especially careful with plurals and figures that sound similar such as fifty and sixty (“five o” “six o” are much more definite). Distinguish clearly between similar sounds like p and b, m and n, f and v, f and d. Sometimes you need to say “T as in tape” or the like.

3  Spell unusual words and names when using them for the first time. Also be especially careful with the many English words that are similar in sound but different in meaning and spelling. Here are a few examples

Accept                  Except                                              Ordinance                  Ordnance

Addition               Edition                                              Practical                      Practicable.

Affect                    Effect                                                Principal                      Principle

4 Dictating at the beginning of the message any special instruction such as extra copies figures. Or your desire for a rough draft only. For a complicated message report, letter, memo, speech . etc. you will surely want to edit and revise before it is mailed. Thus be sure to ask for a rough draft, double spaced. Your correct instruction can save time as well as paper and supplies.

If your office has a magnetic card or magnetic tape typewriter, you and your typist can save still more time. You can then makes changes or additions easily with out having an entire  report draft retyped. A variation on the magnetic tape typewriter is the word processor. If you have in your office your own word processor your secretary could return to you the draft copy and the ‘floppy’, latter to be inserted in your machine for additional editing.

5 Always dictate as  much punctuation as your transcribe needs to turn out an accurate, attractive message quickly. At least  dictate “paragraph” to indicate each new paragraph: “quote” “unquoted”, ”parenthesis”, “close parenthesis”.

6 Dictate at a normal rate as you talk. Avoid long pauses followed by rapid dictation.

7 Let your secretary use his or her initiative as to grammar corrections, additional punctuation, and arrangement of your letter, memos and reports.

8 When dictating a reply to a letter received, you can save both your time and your stenographer’s time if you dictate only the name of the addressee. Your stenograph can later copy the full address form the letter you return after you have dictate your reply.

9 Especially when dictating by telephone or on a machine (not face to face to a secretary), be sure to omit any side comments that are neither for the operator’s instructions nor for your addressee. For statements like “That guy is really nuts” or “I don’t believe what drain customer wrote” within the transcribe letter. Naturally it had to be revised.

10 If you have many important figures to be tabulated write them on paper from which the stenographer can copy them.

11 Keep the mail you are answering in an orderly pile by turns each letter (or memo) upside down when you have finished answering it. After all your dictation is completed, your entire pile of answering incoming correspondence will be in order for your stenographer to obtain needed information. Attach files copies, and so forth.

12 Set aside definite dictation periods (for instance a set time for each morning and / or afternoon) with no interruptions by telephone or callers: this can save you and your company tie and money.

13 Standardize basic instruction and put them in writing for your transcribers – to eliminate needless “Send a copy with enclosure to our Portland office.”
14 Dictate less and delegate more – if you have an experienced secretary. For repetitive situations develop effective interchangeable form paragraphs she or he can use easily. Dictate only the basic idea, and let your secretary compose the routine letters.

                               

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Dictating Procedure Business Communication

DICTATING PROCEDURES:

Remember these key points in dictating are similar to the steps in making an oral presentation.

1 Identify the reader.

2 Determine the purpose of the communication.

3 Organize the idea to the presented, and

4 Outline the major and minor points to be covered in the dictation process.

Of course, before you more forward with any of these four points, you should know to use the equipment how to step, erase, pause, and play back. But with that knowledge in mind, you can be the dictation process.

Normally you will initial a letter report or replying to the piece of correspondence just received. In any case the reader must be identified. Is the recipient a customer? Dealer? Prospect ? Employee? Government official? Next, what is your purpose that often determines the organization of the communication.

Everyone has slightly different way of organization or outlines the message to  be dictated. Some individual prefer to enter the outlines in the marginal or at the bottom of the letter being answered. Others find it easier to use a separate sheet of paper and some people are comfortable making up the outline in their heads. Regardless of the method, an outline is vital. When it has complete review it for.

1 Logical sequence of ideas (obviously it is easier to moves ideas around in the outline than it is in the finished letter or report :

2 Possible omission of ideas: and

3 Possible duplication or addition of unnecessary topics.

Now just one more point before dictating: Do you have the correct spelling of the recipient’s name? The address? Model number and  specification data?

You will find a little practice will help you to become adopt as a dictator. And you will save a great deal of time in the bargain. The key is the outline if it is logical sufficiently detailed, and carefully edited dictating from it will prove to  be very easy indeed.

The dictation should establish a reasonable speed of dictation; if you are dictating in a word processing center, the organization will have established norms for dictating speeds.

Be sure to be very clear in dictating. Pronounce words distinctly and spell any usually words or names. Also provide the transaction with oral clues as to where you want certain kinds of punctuation.

Remember that be transaction may be very unfamiliar with the situation which you know well; thus it well be up to dictate in a manner that will enable the transcribe to product perfect copy.

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Business Communication | Dictation

DICTATION:

Managers may requires preparing letters, memos, circular or reports in performance of their managerial duties. These may be dictated to his secretary or stenographer. Dictation is an important job and every care is to be taken to ensure that dictation work has been done is an effective manner.

The following suggestion that will help in effective dictation:

1 Try to speak very clearly. While dictating do not put candy chewing or cigarette in mouth.

2 Spell unusual words and names when using them for the first time

.

3 If you have any special instruction then dictate if before beginning the message such as, put extra carbon for certain persons or make a rough draft only etc.

4 Always dictate as much punctuations as your transcriber need to turn out and accurate, attractive message quickly. Particularly dictate “new paragraph” for each new paragraph.

5 Dictate at a normal speed just you talk. It is thoughtful to slow down a little while reading an inside address or any phone number.

6 Let your secretary use his initiative as to grammar correction additional punctuation and arrangement of your letters, memos and report.

7 When dictating a reply to a received, try to dictate only the name of the addressee. Your stenographer can later copy the full address from the letter which you return after dictating your reply.

8 Keep the mail in an orderly by turning each letter upside down when you have finished answering it.

9 Fix the definite time for your dictation. For instance a set time for each morning and or after noon with no interruptions by telephone or callers.

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Business Communication | Leadership

LEADERSHIP:

Simply stated, leadership is the process  of influencing the behavior of others towards the attainment of desired goal or purpose in given circumstances. Leadership is a tools to get the desired work done through employees or subordinates. Leadership is majorly explained on the basis of influence of relation ships and motivational considerations. One methods of solving the problems of motivation is the effort to provides inspiring and effective leadership to the employee .The success of a manager is largely decided by the fact as to how much effective he is as a leader. Leadership is the ability to make people act the way the manager or leader wants. It is the process of influencing others to become what they are capable of becoming in the view of the leader. Leadership in essence, is carrying the people with the leader by their consent.

DIFFERENT SCHOLARS HAVE DEFINED LEADERSHIP IN THE FOLLOWING WAYS:

Theo Haimann. “Leadership can be defined as the process by which an executive imaginatively directs, guides and influences the work of others on choosing and attaining specified goals by medicating between the individual and the organization in such a manner that both will obtain maximum satisfaction.”

Weihrich and Koontz. “Leadership is defined as influence, that is the art  or process of influencing people so that they will strive willingly and enthusiastically in ward the achievement of group goals.”

Peter Drucker. “Leadership is lifting of a man’s vision to higher sights, the raising of a man’s performance to a higher standard, and the building of a man’s personality beyond its normal limitations.

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Business Communication | Meeting

MEETING:

Face to face Oral communication among groups of people is essential to certain phases of business. Message represent an important of segment of business communication, become meeting can often achieve results that would be difficult to generate by phone or letter.

Purposive between two more people is a common definition of a meeting.

A meeting can defined as gathering of three or more people sharing common objectives where communication (verbal and/ or written) is the primary means of achieving those objectives.

A meeting is effective when it achieves in objective in minimum amount of time to be satisfactory of the participants. Meeting can range from formal to very informal.

FORMAL MEETING:

In large organization formal meeting are usually held at regular held at regular intervals and are considered by the groups elected officers. The major officer are:

1 President.

2 Vice President

3 Recording Security (Responsible for minute)

4 Corresponding Security

5 Treasurer

Formal meeting follow strict parliamentary procedure, which is a set rules for conducting meetings.

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Business Communication | Procedure Of Taking An Interview

PROCEDURE OF TAKING AN INTERVIEW:

Following are the procedure to taken an interview.

1 WARM-UP PERIOD:

The interviewer at the beginning of the interviewer should invite the candidates in a manner that is taking to his friend with a warm smile at his face with friendly tones of voice and he should welcome the applicant.

2 OUT LINE AND CONTENT OF THE INTERVIEW:

After welcoming the applicant, the interviewer should start the interviewer taking on the subjects, he want about his starting with the back ground of applicant, job, activities, technical qualification, willingness, social effective and emotional balance and experience of the same job.

3 PREPARE CHECK LIST OF INTERVIEW:

After getting information from the applicant, the interviewer should see his requirements, whether the applicants is fulfilling the requirements or not.

4 FINALISATION:

After selecting the top applicants who are fulfilling his requirements, he should go on to priorities for selecting the final candidates.

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Business Communication | Preparation For The Interviewer

PREPARATION FOR THE INTERVIEWER:

The interviewer must bear in his mind the following points before interviewing.

1 HAVE A CLEAR PICTURE OF ORGANIZATION:

The interviewer should know well his organization and have all the information for which is interviewing.

2 FAMILIAIRTIES WITH WORKING ENVIRONMENTS:

The interviewer should also know the working conditions of organization in which the candidates have to under go.

3 REQUIREMENTS OF THE JOB:

The interviewer should also know about the requirements of the job that is character, personality of the candidate.

4 MAKE NECESSARY ARRANGEMENTS:

The interviewer should also necessary arrangements to take interviewer and tries to gives benefits to all applicants i.e. provides waiting room with chairs, fans etc.

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Business Communication | Kinds Of Capitalism

KINDS OF CAPITALISM

Capitalism , keeping , it past history in view , can be classified as under:

1.     Laissez faire capitalism

2.     Modified capitalism

LAISSEZ FAIRE CAPITALISM

Laissez faire is a French term meaning absence of governmental control over industry and business . This system of capitalism started off in Europe and the U.S amidst industrial revolution and came to an end in between the first and second world wars. During the period the system was quite free of any type of government interference and, consequently , the manufacture and seller went rampant in plundering customer and produced innumerable other evils . the producers created business combination to keep prices high and quality low and curb  competition . The ultimate result was the Great Depression tearing down the industrial development , creating unemployment , and bringing bankruptcies.

MODIFIED CAPITALISM

It is far better economic system than the laissez faire capitalism . It was first introduced in the U.S . After studying the cause of the Great Depression the government curbing the evils of the free capitalism , enacted stern laws , and banned all forms of business combination . Now in most countries across the world prevails modified  capitalism marking strict laws , defending interests of all parties involved in any type of business including consumers , producers, capitalists , laborers and the government itself . Best example of countries adopting modified capitalism are U.S. in America , Japan in Asia , Germany in Europe , and Australia where all means of production , utility services are in the private sector . Ordnance  factories , railways , airliners , small and heavy industries banks, insurances companies , and post officers are all in the private sector in these countries.   

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Business Communication | Interview

INTERVIEW:

Interviews are face-to-face communication. It is a form of interpersonal Communication. Interviews are not just for job procurement.

An interview is a conversation with a purpose . It includes all form of conversation i.e. speaking, listening and writing.

The purpose for which interviews are carried may be as follows:

1 JOB INTERVIEWS:

The job candidate wants to learn about the position and organization. The employers wants to learn about the applications abilities and experiences. Both hope to make good impression and to reach an agreement.

2 INFORMATION INTERVIEWS:

The interviewer seeks that bear on a decisions or contributes to basic understanding. One person asks a list of questions and the other supplies answer to them.

3 PRESUASIVE INTERVEIWS:

One person tells another about a new ides, productive, or service and explains why the other should act on the recommendation. Persuasive interviews are usually associated with selling.

4 EXIT INTERVIEWS:

The interviews tries to understand why the interviews is leaving the organization or transferring to another organization or development.

5 EVALUATION INTERVIEWS:

A supervisor periodically gives an employee feedback, on the or her performance. The supervisor and the employee discuss progress towards progress predetermined goals and evaluation areas that requires improvement.

6 COUNSELING:

Counselling take by a supervisor, officer, or counselor who may ask questions relating to work or problem from the employee. In other cases interviews may be conducted by a doctor/psychiatrist of patient or person facing psychological problem.

7 CONFLICT-RESOLUTION INTERVIEWS:

Two competing people or groups of people explore their new problems and attitudes. The goal is to bring the two parties closer together and create a more productive climate

8 DISCIPLINARY INTERVIEWS:

A supervisor tries to correct the behavior of an employee who has ignored the organization ‘s rules and regulations. The interviews tries to get the employee to see the need for compliance.

9 TERMINATION INTERVIEWS:

A supervisor informs an employee of the reason for termination. The interviews tries to avoid legal action and tries to maintain relationship with the interviews.

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Business Communication | Purpose Of Listening

PURPOSE OF LISTENING:

Listening serves a number of important purpose. It enables the listener to check on the accuracy of understanding what the speaker said. Beside the listener expresses acceptance of speakers feelings. Most important of all listening provides a chance to the speaker to explore his or her feeling and thoughts further.

So it can be said that in listening we again new information and idea about different subject. As in a class room or listening makes us aware of floods of information about different subjects.

By listening we enhance our knowledge about new facts. Listening also motives us. By listening to a speaker, we not only learn something new also develop an urge to learn new things and ideas.

Listening also improves our own communication, when we listen to people who inspire us, they become our role models. So we follow them and develop effective communication skills in us.

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Business Communication| Essentials for Good Listening

ESSENTIALS FOR GOOD LISTENING:

Listening is a skill that need to be mastered. Everyone cannot be a good listener. Once of the primary essentials for developing good listening skills is cultivation of a positive attitude. It is difficult to listen objectively to what the order person is saying if listening begins on a negative note. A positive inclination enables the receiver to be open to the suggestions and statement made by the sender. A closed mind and unwillingness to listen to reason or ideas the suggest a deviation form the norm, lead to an unreceptive attitude.

POSITIVE ATTITUDE

Developing a positive stance alone will not suffice. It needs to be coupled with the ability to concentrate. The mind possess tremendous capacity to swing in more than one direction. Control needs to be exercised to prevent mental moves in warranted directions. The entire process can be compared to meditation. The same degree of rigor and concentration needs to be applied. There is a scientific reason behind errors that crop up at he time of communication. The speaking capacity of an individual is approximately 180 to 250 words per minute. The capacity of the individual to process words is approximately 400 to 600 words per minute. If there is a small deviation or digression either on the part of the sender to the listener, the mind takes leap. By the time it resumes its original position, the sender has already transmitted a major chunk of his message. Hence arise errors in communication leading to what is commonly referred to as “miscommunication”. If by extreme discipline the receiver can train himself to listen attentively, these errors would be minimized.

ENTER INTO QUESTION-ANSWER SESSIONS

However, these could be instances when the mind gets exhausted and stops paying attention. In such instances  prudent move would be to indulge in question-answer  sequences. When a recipient directly asks  a question, the normal tendency of the sender it is very difficult for the mind to stray. Eyes revel as well as conceal a lot. If the eyes are subject to the scrutiny of the sender, it is very difficult for the listener to doze off or stay. This strategy is a very useful one as it stalls error in the listening process.

CONDUCTIVE BODY POSTURE

The body language at the time of listening should also be conductive to the communication process. Leaning back or sitting slumped in the chair is gestures through which the listener is distancing himself from the sender. If an upright position or a slight lean in the chair could be sported automatically receiver would be lessening the distance between himself and the encoder. Chances are high that there would be improvement in his listening.

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Business Communication| Listening

LISTENING:

Listening can be defined as the accurate perception of what is being communicated. Accuracy, it may be stated, is never 100%. Because of the differing perceptions of individuals, there are bound to be differences in understand the intent of the message. The process of listening is two-fold:

1       Decoding .

2       Giving an internal response to perceived message.

DECODING.

The process of decoding takes place as soon as the message reaches the receiver. At the time of communication his mind is literally open for the reception of the reception of the entire message. How much of the information he decided to use or consider as relevant is contingent upon his perception of the message. Words and statements are best understood when there is an understanding of the context. If the sender has been careful, the usage of terms would be easily comprehensible to the receiver. However, if he has missed out certain links, in the hope that the receiver would  be familiar with them, the decoding process would suffer a major setback. The decoder would view the utterances from his own perspective and give a  response. Without either party realizing it, the seeds for the first stage of miscommunication have already been sown.

Moving on the presumption that the decoding has been accurate or exactly as was desired by the sender, communication progresses to the second stage, that is giving an internal response to perceived message. This would entail the stage where the receiver would probably try to weigh the utterance with respect to his own needs and expectations. If there is harmony between the two, his response is going to be well formulated and conductive to the growth of communication. Listening there is a three-tier process:

Leveling

Sharpening

Assimilation

Information or message are  poured in the mind of the receiver and collect like a garbage heap. The mind automatically sifts through the material and picks up areas or ideas on which it would prefers to focus. These would pertain to the level of interest and expectations of the receiver. Finally, it assimilates only those issues that it thinks are of direct relevance to it.

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Business Communication| Parts of a Speech

PARTS OF A SPEECH:

Well-organized speech will usually fall into three distinctive divisions the introduction, main body of the speech and the conclusion. Each of these parts of the speech is important and servers a particular purpose that cannot easily be ignored.

THE INTRODUCTION:

As in written communication you start with salutation, being your speech with ladies and gentlemen or any other form depending on the audience. Speaker must keep his eyes on the audience.

The speech introduction has two main purpose on is to create interest in the subject and the second is to suggest the direction in which the subject will be developed.

The first few minutes a speech are usually the most difficult. During the period the speaker is attempting to adjust himself to the speech situation and the audience is becoming adjust to the speaker and his purpose. Most speakers gauge their audience to be only passively interested at the outset. It is necessary the to break into their attention during these few minutes. The speaker may say something that will arouse their interest  - something that will make them listen for example.

(1)By telling a story that is relevant to your subject.

(2)By asking questions to create sense of participant among the listeners.

(3)By telling some funny story or joke to enliven your audience and lift their mood.

By all means a beginner speaker should avoid apologies for not being an experienced public speaker. This merely prepares the audience to expect the worst and perhaps even look for poorer part for the speech.

Because first impression are the strongest and a speaker is in need of creating a good first impression, the introduction must be planned very carefully. Something must be selected for the opening.

After the audience has focused on the speaker and his speech, he must indicate something of the general plan of his speech. The audience must have a few hints about the thing to come later in the speech. This will better prepare the audience so that they may follow easily the trend of thought.

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Business Communication | Speech

SPEECH:

Talks or speeches may range from few minute to an hour in length depending on the occasion. Some talks introduce new managers to employees or introduce distinguished guests. Some talks may be on the presentation of awards to people who have earned-recognition. You may be asked to welcome the visitors attending the organization.

Long speeches may be delivered at regional or international conference. The subject matter of such speeches varies widely.

Careful planning is needed for all types of speeches. It is as a result of careful planning that you will feel confident on the stage. Preparing of speeches requires the following steps.

1.WHAT IS THE PURPOSE OF THE SPEECH:

The general purpose of business talks is one of the following to inform or instruct, to persuade or to entertain. The speaker must know why he is talking and he must choose a topic on which he can talk with confidence. A person ma y be required to deliver a speech to introduce a speaker or to welcome visitors. In all the above cases general purpose is quite obvious. In some cases speaker may be required to persuade the listeners to accept your point of view.

2.WHAT TYPE OF AUIDENCE IS BEING ADDRESSED?

Speaker must keep in mind the like and dislike of the audience. He must have an idea their knowledge trade and profession. He must also keep in mind the size of the group.

3.SELECT THE IDEA OF YOUR MESSAGE YOU WANT TO CONVEY:

Nature and purpose of your speech will be factor in including the ideas. You must polish your ideas in such a way that the audience can accept them.

4.TOPIC SHOULD BE THROUGHLY RESEARCHED:

Speech is also be prepared like a written report. The speaker is to collect classify, interpret and organize matter for the speech. The speech must be so organized that the audience can easily follow the speech and take interest in the same.

5.DRAFT SPEECH SHOULD BE WELL ORGANIZED:

When all information has been gathered the speaker should prepare a draft. Like a written report the speech is also organized step by step- introduced, body and conclusion.

6.YOUR SPEECH SHOULD BE SUPPLEMENTED WITH VISUAL AND WHEN NECESSARY:

Success of oral communication is enhancing by visual aids as they provide the audience the opportunity to picture your ideas.

The most commonly used device chalk, board flip sheet (large separate sheet containing variety of matter and fastened at the top and attached to a stand) card or posters projector.

7.BEFORE DELIVERY THE SPEECH IT SHOULD BE WILL REHEARESED:

Now after considering the above six points the person is ready to apply them by rehearsing the talk. Rehearsal eliminates errors and produces confidence in the speaker. When rehearsing delivers your speak loudly may be in front of a mirror. When rehearsing the talks one should make sure that he does not have stage fear & must speak in a voice audible to the last man.

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Business Communication | Types of Distribution Channel

b. TYPES OF DISTRIBUTION CHANNEL

At the time of formation a business it is decided as to what channel of distribution is to be selected . That is, the proprietor will decide to act as wholesaler, retailer, broker , importer , exporter , sole agent , intender , or distributor .The channel selection depends on his experience , the amount of capital, and the type of products to be dealt in , and many other criteria.

c. INTERNAL ORGANIZATION AND MANAGEMENT

To run a business systematically and efficiently it is necessary to draw up a proper  internal organization which requires to work out an organization chart . According to it, the firm is divided into several department , powers are delegated , responsibilities are fixed . Job description and job analysis are prepared to fix duties . In case of company a board of directors is formed .

NATURE OF BUSINESS

In starting a new business the businessman has to decide on the type and nature of business . The fields open to him are industrial , commercial , or service areas . He may choose manufacturing , wholesaling , retailing , brokerage , import or export . The selection decision will be based on the availability of capital , scope of business , his expertise and experience , nature of demand.

INFRA – STRUCTURE

Infrastructure provides a sound basis for all types of businesses. It includes basic installation and facilities , as road , power plant , transportation , and communication systems . Whether it is a manufacturing concern or service organization , wholesaling or retailing import or export , small or large business, all need infrastructure .

FUTURE OF BUSINESS

This factor should be considered separately and precisely . The factor of technology is of especial consideration because it is fast changing and renders almost daily existing products outdated and obsolete . Today ‘s products get outdated tomorrow . As past experience tells us that black and white TV , fountain pen , and radios have been replaced by color TV , ball pen or ceramic pen, and CD players respectively to quote only a few examples. New inventions , innovation are continuously coming up. Today ‘s technology reject ,yesterday’s . Consumer taste is also on the change . World affairs , local government policies have also became fairly risky. The business will have to go for tomorrow ‘s technology , not yesterday’s . And what ‘s future technology? The answer lies in research , eyeing on competition , and careful analysis of business condition , both local and abroad .

FINANCE/RASING CAPITAL

Finance is the core part  of business .Business finance includes capital ( owners’ equity), loan and retained earnings . Different types or business ownerships bring in capital differently . In sole proprietorship, it is the partners who invest capital . The company receives capital by selling its shares to founders and general public.

Finance is used in purchasing equipment , land , machinery , plant, merchandise , and raw materials . It is required to pay long-term liabilities , as mortgage or bond payable . A business enterprise has to meet other day  to day expenses, as salaries , prepaid insurance , interest , rent, and the like . Receivables and payables are also to be financed   

   

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Business Communication | Oral Communication

ORAL COMMUINCATION

Communication is a composite of speaking and listening. Honing skills is both these areas is absolutely essential if the communicator wishes to impress the receiver. The initial impact is made by the speaking abilities of the sender. Equally important is the ability to listen carefully. If the overall effectiveness of these two components is considered, it would be seen that the ability to listen rather than to speak fluently impresses more.

The two activities, viz., speaking and listening, cannot be segregated. Both are closely intertwined and an overall impact is created if both these skills are used effectively. Let us use the word “IMPRESS” as an acronym to understand, would definitely help us to impress the other interactant.

I---- IDEA:

The first step in the process of communication is to decide on the idea, which needs to be communicated. There may be a host of  ideas passing through the mid of the sender. Depending on the situation and the receiver, the idea best suited to the occasion.

M---MESSAGE.

Once the idea has been selected, its needs to be clothed in a language that is comprehensible to the receiver. The encoding of the message has to be done keeping a number of factors in mind. What is the language that is going to be understood  by the receiver? Does the idea necessarily pertain to the interests of the interests of the receiver? What is that the receiver actually needs to know? Framing of the message, if done (keeping answer to these questions in the mind), would definitely make an impact on the receiver.

P---PAUSE/PARAGRAPHS.

The significance of pauses cannot be understand. Pause should juxtaposed at just the right  minute so that the receiver can assimilate the impact of the message. The use of pauses would be best understand in the context of a presentation. The presenter should, at the time of making a presentation, use this device suitably. Excessive usage of this can lead the presentation into being one that is pretty boring and monotonous. The right use of pauses actually simulates the audience. The impact is often so great and forceful that the receivers actually lean forward ion their chairs when the presenter pauses, as if urging him to resume the presentation. The device, in the course of the interaction, lasts for barely a few second. However, the impact is long and meaningful. In written communication pauses get translated into paragraphs. If the decision to use a certain number of paragraphs is right and the division of points in these paragraphs is also correct, then written communication becomes meaningful and creates a positive impression.

R---RECEIVER.

The receiver is the most important person in the process of communication who could, if he so desires, also prove to be the most difficult,. He is the one who is generally led into the interaction. In order to draw his attention , it is imperative that there be an extra plus that would retain him interest make him attentive to the ensuring communication. To satisfy this criterion the sender should address himself to the needs and expectations of the receiver. Formulating the statements according to a mutually accepted goal is a good way of proceeding and drawing his attention.

E---EMPATHY.

In communication empathy should be used to help us understand the other individual, the strategies that he adopts and the responses that he gives at a particular moment. It would be worth while to note that all communication is situation might use the same words but his attention might be totally different. Gauging the exact meaning of an utterance can only be done when we literally put ourselves in the shoes of the other person and try to understand the situation from the perspective of the sender.

Each individual, as a sender has, what we refer to as, a‘logic bubble’ that enables him to formulae his message in a particular fashion. The same holds true for the receiver or the listener. The greater the empathy between them, the higher the level of understanding and more the receptivity to message and ideas. Empathy needs to be distinguished from another word, namely “sympathy”. Which is different in connotation. Sympathy is placing the sender on a higher pedestal and viewing the order in a sympathetic light.

S---SENDER.

The communication process hinges on the sender. He initiates the interaction and comes up with ideas and concepts that he wishes to share with the receiver. His role is the most crucial. The success or failure of interaction depends on him and on the strategies he adopts to get his message across by securing the attention of the receiver. A cautious sender would understand that there is a difference between the mental frames of the interact ant  . Such a difference could be a result discrepancy in interpretations of words, perception of reality, and attitudes, opinions and emotions. Message, If formulated with awareness  along with these areas, is sure to brings success to the sender.

S---SECURITY CHECK.

Effective communication necessities  that the receiver listens carefully to the utterances of the sender so that the end results are positive. The primary rule is: never be in a rush to commence communication. Sufficient time and effort should be put in formulating the message. Suppose the sender wishes to communicate five points. The sequencing and necessary substantiation of points with facts and figures should be done prior to the actual beginning of the communication process. This would build confidence in the message and eliminate possibility of errors in the statements.

To sum up, the sender, in order to impress the receiver should, at he start, have an idea encoded in the form a message. At the time of encoding, the sender does a thorough security check to ascertain that all points have been dealt with in a desired order. The message is then transmitted to the receiver with the required voice articulations and pauses so as to heighten the impact. Finally, the response of the receiver should be viewed empathetically. Once all these factors have been understood, its proves easy to prevail upon the receiver.

There could , however be moments when in spite of efforts being made to make the interaction informative and meaningful, all communications links fall apart and he process ends in a meaningless rumble of words and sounds. This disturbing or distracting factor is what we refer to as noise. This may be on te part of the sender or the receiver: it can be voluntary or involuntary.

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Business Communication | Noise

NOISE:

Noise can be defined as a physical sound or a mental disturbance that disrupts the flow of communication as the sender or it perforce distracts the receiver . According to this definition . Noise can be classified into :

1.     Physical

2.     Psychological

PHYSICAL NOISE

Physical noise is that sound which emanates from the surroundings and hampers the listening process , e.g, while speaking on the telephone , disturbances might hinder the smooth , transmission of message or just at the time when the sender wishes to transmit an important point, there might be a queer squeaking sound . Physical noise is not all that difficult to manage .It can be done away with at the time of communication by ensuring that all channel are in proper functioning order. For example, Often, companies have soundproof room for discussion

 PSYCHOLOGICAL NOISE

While care may be taken to eliminate possibilities of physical noise, problems arise at the time when psychological noise plagues either the sender or the receiver. Whenever there is psychological noise, it result in (un) welcome ideas or thoughts crowding the mind, which are of move relevance than the ensuring communication to either of the participants. Listening, as a result is hampered and response are not well formulated. Some of the common forms of noise are metal turbulence, preoccupation ego hang-ups, anxiety, tiredness, pre-convered ideas and notions. These are mostly involuntary and no cause can be assigned to them.

What is important is awareness about these factors; the sender at a particular moment might be disturbed by psychological noise. If he is aware of the mental turmoil and knows that it would disturb his listening process he should, at the time of communicating, carry apiece or paper and a pen or pencil to hot down points or comments of the receiver, on the other hands, the receiver might also be distracted by psychological noise. Outward manifestations of this disturbance would be in the form of restless tapping on the table, looking in other directions, shifting restlessly, changing positions, etc. these are just some of the means through which the sender can gauge the presence of psychological noise in the mind of the receiver. To make more meaningful and successful communication, the sender should try trough certain strategies to draw the attention of the receiver. He can do this by entering into a question/answer session or asking for advice. Both these devise would, to a great extend, remove the element of psychological noise.

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Business Communication | Introduction to Business

INTRODUCTION TO BUSINESS

TYPES OF BUSINESS

1.   SOLE  PROPRIETORSHIP:  It is the form of business organization  that has only one owner who invests capitals in business and is fully responsible for his business  operations . He enjoys all profit and is responsible for the losses .

2.   PARTNERSHIP: It is the kind of business ownership with at least two co-owner and maximum twenty . Profit or Loss is divided prorate among partners . Partners enjoy certain rights , perform duties that must be honored.  Partnership is based on agreement among partner to carry on a business for profit.

3.   JOINT STOCK COMPANY : It is also referred to as corporation . It is an artificial being, intangible, invisible, and existing in accordance with the law. It has its own existence separate from its owner (shareholders) and hence can sue , be sued , and enter into agreement in its own name. Unlike sole proprietorship and partnership the owner of the company are not responsible for the acts of the company . Hence , the liability of shareholder is limited to their investment in the capital of the company. Memorandum of association , articles association , and prospects are fundamental document required in the formation of a company which must be registered with the registrar of the company

3.     COOPERATIVE SOCIETIES: It is an association of consumers to establish a business based on mutual cooperation and operated on no profit , no loss basis. Cooperative banks and cooperative housing societies are quite .

 

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