Business Problems ( Essentials of Starting Business)

What Do You Mean By Business Problems? What Do You Know About The Business Under Private and Public Ownership?

Economic Systems

What Do You Know About Capitalism? What do you know about socialism?.

Business Environment And Social Responsibilities

How A Business Can Meet Its Social Responsibilities? What Do you Mean By Social Responsibilities?.

Sole Proprietorship

Define Sole Proprietorship? Under What Circumstances The Sole Proprietorship Business Is Converted Into Partnership?.

Wholeselling And Retailing

What Are The Characteristics Of Wholesaler? Write Down The Characteristics Of Retail Trade.

Monday, April 6, 2020

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.

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 .


 


Friday, April 3, 2020

Business Communication | Barriers of Communication


BARRIERS OF COMMUNICATION

An activity as complex as communication is bound to suffer from setbacks if conditions contrary to the smooth functioning of the process emerge . They are referred to as barriers because they create impediments in the progress  of the interaction . Identification of these barriers is extremely important . According to the role observed by the two participants, let us categorize the barrier as:
.  Sender – oriented
. Receiver -oriented

SENDER-ORIENTED BARRIERS

Sender-oriented barriers could be voluntary or involuntary . At any cost ,effort should be made on the part of the sender to identify or remove them . As  the sender is the originator of communication , he should be extremely careful not to erect barriers .If his interaction gives rise to or indicates that there are barriers , the communication comes to a grinding halt . Some of the barriers that are sender –oriented are as follows :

1.     BADLY EXPRESSED MESSAGE . – CONCRETE IDEAS & WELL – STRUCTURED MESSAGE

Not being well versed in the topic under discussion can create problem of this nature. The sender may not be able to structure his ideas accurately and efficiently .What he wishes to say and what he finally imparts may not be the same. The discrepancy emerges as soon as the words are uttered. If fact, one of the important criteria at the time of initializing a piece of communication is that ideas should be concrete and the message should be well structured . The receiver should not feel that the interaction is a waste of time. The moment this feeling crop up , the listener totally communication.

2.     LOSS IN TRANSMISSION . – CORRECT CHOICE OF MEDIUM\CHANNEL

This is a very minor issue but one that gains in magnitude when it leads to inability in transmitting the actual message . Once again , if the choice of the channel or medium is not right , the impact of the message is lost .This is mostly a physical noise . However , the responsibility lies with the sender , as he should ensure that all channels are free of noise before commencing communication.

3.     SEMANTIC PROBLEM . – IMPEL WORDS AND ACCURATE UNDERSTANDING OF INTENTION

  High and big sounding words definitely look and sound impressive . But if the receiver is not able to compared the impact of these words ,or if they sound “Greek “ or “ Latin” to him the entire exercise proves futile . This problem could arise in the interpretation of the word or overall meaning of the message . It is also related to the understanding of the intention behind a particular statement . For the receiver , e.g . , the sanctity associated with the word “while “ might be violated when the receiver uses it in a careless fashion . The idiosyncrasies of the receiver should be well understood by the sender if he does not wish these barriers to crop up at the time of communication . The look on the face of the listener should be sufficient to warn the sender that he has overstepped his limits or he has been misunderstood.
4.     OVER/UNDER-COMMUNICATION . – QUANTUM OF INFORMATION SHOULD BE RIGHT

The quantum of communication should be just right , neither should   there be excess information not should it be too scanty . Excess information would make him grope for the actual intent of the message . The sender should , as far as possible , try to get the profile of the receiver so that at the time of communication he knows how much material is needed and how much can be done away with . Suppose he starts with some information that the receiver already possesses , the later might lose  interest as it a mere repetition of what he already knows . So by the time he  arrives at the core of the matter , he has already lost the attention of the receiver.

5.     ‘I’ ATTITUDE .- AVOID “I” ATTITUDE

Starting any piece of communication with a bias or know – it – all attitude can prove to be quite detrimental to the growth of communication process . Through it is easier said than done , still , when communication commences , all sorts of prejudices should be done away with, and the mind should be free of bias . This would enable the sender to formulate his message , keeping only the receiver and his needs in minds . Thoughts like “Last time he said this…. “ or “ Last time he did this…” or “He belongs to this group …” can  totally warp the formulation of the message . This barrier can also be extended to the  receiver . If  the respondent starts with prejudices in mind , he too would be unable to listen to the intent of the message . His understanding of the message is going to be warped . The message are going to be understood in relation to the prejudices  that a receiver harbors against the sender.

RULES FOR OVERCOMING SENDER – ORIENTED BARRIERS:

These barrier are not insurmountable . Care and constant practice on the part of the sender can remove these barriers . some of the rules for overcoming sender-oriented barriers are as follows :

1.     PLANS AND CLARIFIES IDEAS . – TEST THINKING , DISCUSS, COLLATE AND PRE-PLAN

Ideas should be carefully formulated/through out before beginning any kind of communication ; this can be done by following a few steps . Primary among them is to test thinking by communicating with peers and colleagues . It is said that two mind are always better than one . Ideas, when discussed aloud with another person , necessarily take on a shape and form . Errors of logic, if any get sorted out . In this process the concept of others can also be collated and incorpated to make the communication richer and more fruitful . As these steps require preplaning and extra time, the sender should be  highly motivated . Unless he is sufficiently motivated , he will not spend extra hours in planning the message and clarifying it by facilitating discussion with other members in the organization.

2.     CREATE A CLIMATE OF TRUST AND CONFIDENCE . – EMPATHIZE

In order to win the trust and confidence of the receiver , the sender ahs to put in extra effort through which he is able to win the trust and the confidence of the recipient . This is what we normally refer to as establishing sender credibility .If the receiver is convinced that the sender has his best interest at heart , he would be willing to pay attention to all that is being said and try to grasp the import of the message ion the  manner in which it is intented.

3.     TIME YOUR MESSAGE CAREFULLY . – KEEP THE WHERE AND WHEN IN MIND

 Different occasion and different hours necessitate a change in the encoding of the message . The sender has to be careful of the time when and the place where he makes his statement . As all communication is situation bound, a statement made at an incorrect moment , or a wrong place can stimulate and undesired response . The most prudent step is to measure the import of the message in relation to the situation and then impart it.

4.     REINFORCE WORD WITH ACTION . – HARMONIZE WORDS AND ACTIONS

Whatever statement are made should be reinforced by action on the part of the sender . The receiver should not feel that there are two codes at play, one for transmittal and the other for mentally at peace , for this grasp is more accurate and through.

5.     COMMUNICATE EFFICIENTLY. – SOLCIT FEEDBACK

The sender can only ascertain whether communication has been effective when he confirms with feedback.  The receiver on his part is also wary, as he knows that he would be requested for feedback. Soliciting and receive feedback is the simplest and the surest way of removing any barriers that might crop up in the course of communication as a result of either over communication or a semantic problem.
Once all barriers to communication have been overcome , communication , it said , has been meaningful purposeful.

RECEIVER – ORIENTED BARRIERS

The receiver too can be guilty of erecting barriers  in the course of the interaction . Although   his role in the initial phase is passive , he becomes active when he starts assimilating and absorbing the information . He is equally  to blame if the situation goes awry and communication comes to a stop ,or there is miscommunication . Some of the barriers emanating form the side of the receiver is as follows:

1.     POOR RETENTION . – JOT DOWN POINTS

Retention is extremely important during interaction . If the receiver has poor retention capability, he would probably get lost in the course of the proceedings . There would be no connection between . what was said initially and what is being said now . He might counter statement instead of seeking clarification that might lead to clamping on the part of the sender . If the decoder feels that his retention capacities are not good , a judicious strategy for him would be to jot down points . It does not portray him in a poor light . On the contrary , it shows how conscientious he is to get the message right .

2.     INATTENTIVE LISTENING . – IMPROVES CONCENTRATION

The mind has its own way of functioning . It is very difficult to exercise control over the changes of ones mind . Listening is more an exercise in controlling the mind and exercising it to assimilate messages . The errors in listening arise primarily because the receiver is either not interested in what is being said, or has other things to concentrate on . The art of listening is an exercise in concentration .If this skill can be honed , barriers to communication would not be erected.

3.     TENDENCY TO EVALUATE .- DELAY EVALUATION

Being judgment and evaluative are both the starting points for miscommunication . Remember, the mind cannot perform two activities at the same time . If it is evaluating , listening cannot take place . Evaluation should always be a sequel to the listening process . It cannot be done simultaneously with listening . The minute the sender opens his mouth ,if the listener starts mentally pronouncing judgment concerning his style or content , he has actually missed out on a major part of what has been said . His responses naturally are then going to be incorrect or expose his misunderstanding.

4.    INTEREST AND ATTITUDES . – DEVELOPS INTEREST

“I am not interested in what you are saying’’  or “My interest lies in other areas . ‘’ Starting any piece of communication with this kind of indifferent can thwart any attempts at communication . Fixed notions of this kind should be dispensed with. It is not possible to be interest in all  that is being said. But to start any communication with this notion is hazardous.

5.     CONFLICTING INFORMATION .- CONFIRM WITH FEED BACK, CLARITY

Dichotomy in the information that the receiver possess and that which is being transmitted can create confusion  and result in miscommunication  . Conflict between the existing information and fresh on result in elimination of the later unless and until the receiver is cautions and verifies with the sender the reliability and validity of the message . The sender should convince the receiver that whatever is now being said is correct and relevant to further proceedings.

6.        DIFERRENT STATUS AND POSITION .- ENCOURAGE Juniors To Come Up With Ideas And Listen

Position in the organization hierarchy is no criterion to determine the strength of ideas and issues. Rejecting the proposal of a subordinate or harboring a misconception that a junior cannot come up with a “eureka’’ concept is not right . In fact, many companies have started encouraging youngster to come up with ideas/ solution to a particular problem . These ideas are then discussed among the senior managers and their validity is ascertained keeping the working and the constraints of the company in mind . The basic purpose of this upward traversing pf ideas is that fresh and the innovative in a particular company for some years , it is natural that his mind gets conditioned in a particular manner. Challenging newcomers to innovate as a part of company policy takes care of ego problems that may arise if this is not the accepted norm.

7.     RESISTANCE TO CHANGE .- FLEXIBLE

Fixed ideas , coupled with an unwillingness to change or discuss , hamper listening and result in miscommunication . Novae concepts that require discussion before they can really materialize . If rebuked , fall flat. The onus lies directly on the receiver who is unreceptive and unwilling to change . People  with dogmatic opinions and views prove to be very poor communicators and erect maximum number of barriers .

8.     REFUTATION AND ARGUMENT . – ENTER INTO HEALTHY DISCUSSIONS

Refutation and argument are negative . Trying to communicate with the sender on the premise that refutation and argument can yield truthful results would prove to be futile. Communication is a process is which the sender and the receiver are the same level. The minute refutation or argument begin; there is shift in balance between the two participants, after which the receiver moves to a conceived that need to be resolved discussion is the right way to approach . Listening to the views of the order , trying to understand or at least  showing thatb there has been understanding , appreciating and finally, positing own views should be the sequence to be followed . The strategy adopted should not make the sender feel small or slighted.





Wednesday, April 1, 2020

Business Communication | Defamation Defined


Defamation is defined as the un-consented and  un-privileged publication of a false idea , which tends to injure reputation.

It is in three forms
1.     Slander
2.     Libel
3.     Publication

SLANDER:
It is oral defamation . It can be committed by gestures , spoken words . Looks , reigns etc . Slander is also known as calumny.

  LIBEL:
It is written defamation . It is malignant publication or statement .

PUBLICATION:
It is the un-consented intentional or negligent communication of defamatory matter to a third part.
Libelous and slanderous statement are subject to legal action and the affected party may sue for the compensation of the damages to its good will and image .

PRIVILEGE:
Privilege is a legal right to communication a defamatory material or information in certain cases.
1.     Absolute privilege
2.     Conditional privilege

ABSOLUTE PRIVILEGE:
It is a right ,which is, enjoy by a person on his rank , position or nature . it has three states
1.     Judicial proceedings
2.     Legislative proceedings
3.     The act of government officials

CONDITIONAL PRIVILEGE:
Conveying  a defamatory statement in goods faith is not subject to legal action . An ordinary citizen can use it in a routine business actively . It can be qualifiedly used . The user of such privilege must avoid malafide  intension and will have to prove his good faith if needed . The following words and phrases should be avoided in the ordinary course of business .

FRAUD:
Fraud is the intentional misrepresentation by one party to a contract of  a material fact which is relied upon a by other party to his injury .

ELEMENTS:
A fraud is committed  when the element of fraud exist in a transaction
1.     False representation of facts .
2.     Intent that decided person act upon
3.     Knowledge that acts would earn.
4.     The deceived person acts to his injury

WARRANTIES:
Warranties or guarantees are common areas where fraud takes place frequently .By warranty the seller undertakes certain obligations about the quality and function of a product.
1.     Fake warranties are frauds.
2.     Other areas of frauds
3.     Fake business of frauds
4.     Fake investment companies
5.     Fake charity institution
6.     Bogus business universities
7.     Spurious public contests
8.     False prize scheme
9.     Gimmickry in medical cures
1.       Quarks and nostrums       



    


  

   






Business Communication | Legal Aspects


LEGAL ASPECTS OF BUISNESS COMMUNICATION
It is necessary to understand the basic legal risks involved in writing .These risks are as follows .

1.                 DEFAMATION:
The matter , which is printed without the free consent of the writer  or the false presentation or any statement . For example hitting one ‘s income and expenditures . So the un – consented and unprivileged “PUBLICATION’’ of a false idea which tends to injure reputation , and for which no legal privilege exists , is a defamation . Oral defamation is SLANDER &  the written defamation is LIBEL.

a.                 PUBLICATION:   Any means of communication , un-consented intentional or negligent , by which some third party ( anyone other than the person intended) actually receives the defamatory idea can effect a publication

b.                 PRIVILEGE:  A legal right to communicate defamatory information in certain situation is privilege , which could be absolute or conditional


2.                 INVASION OF PRIVACY:

If any one interrupts in one’s  privacy life with out his consent or violates his privacy through any other acts , which is harmful to his reputation is the invasion of privacy . For example the use of a person ‘s identity or using  any other person’s name or photograph or his personal possessions.

3.                 FRAUD:

Any misrepresentation made by the party knowing the actual facts in a fraud . The following are the element of fraud .

a)       False representation of facts . ( Made intentionally)
b)      Intent that deceived person act their own.
c)        Knowledge that such  statement would naturally deceived.
d)       That the deceived person acted to his injury.

4.                 OTHER AREAS OF CAUTIONS:
The are some cares to be taken while writing the business letters .

a)       That letter must have the sender ‘s name and address on the back side of the envelope , so that incase the letter is received by the person other then addressed , it can be easily sent to the sender

b)     If the letter is written for some specific purpose  i.e. an article to be published in a newspaper within specific data, the  data  of  receiving  to the receiver should also be written on the front of the envelope , so that the validity of the letter remains existing.

Some other cautions may be remember such as:

a)      Be honest and fair in business correspondence .
b)      Avoid all the statement and acts which invades the privacy of a person.
c)       If any complicated situation arises which involves legal risks , consult an attorney.



Tuesday, March 31, 2020

business Communication | 4 S's


4 S’s
An understanding of the 4 S’s  is equally important

1.     SHORTNESS.-ECONOMICS:

“Brevity  is the soul of wit , “ it said . The same can be said about communication .If the message can be made brief and verbosity done away with ,then transmission and  comprehension  of message is going to be faster and more effective . Flooding messages with high-sounding words does not create an impact . Many people harbor a misconception that they can actually impress the receiver , if they carry on their   expeditious travails . Little do they realize how much they have lost as the receiver has spent a major chunk of his time in trying to decipher the actual meaning of the message.

2.     SIMPLICITY.- IMPRESSES:

Simplicity both in the usage of words and ideas reveals clarity in the thinking process . It is normally a tendency that when an individual is himself confused  that  he  tries to use equally confusing strategies to lead the receiver4r in a maze. Reveal clarity in the thinking process by using simple terminology and equally simple concepts.


3.     STRENGHT.- CONVICES:

The strength of the message emanates from the credibility of the sender . If the sender himself believes in a message that he is about to transmit , there is bound to be strength and conviction in whatever he tries to state . Half-hearted statement or utterances that the sender himself does not believe in add a touch of falsehood to the entire communication process.

4.     SINCERITY.- APPEALS:
A sincere approach to an issue is clearly evident to the receiver . If the sender is genuine ,it will be reflected in the manner in which he communicates . Suppose there is a small element of decent involved in the interaction or on the part of the sender . If the receiver is keen and observant he would be able to sense the make-believe situation and business transactions , even if going full swing , s would  not materialize.



Business Communication | Seven C's



To compose effective written or oral messages, you must apply certain communication principles . These principles provide guidelines  for choice of content and style of presentation adapted to the purpose and receiver of your message . Called the “Seven  C’ S” they are completeness , conciseness , considering , concreteness , clarity ,courtesy an correctness

1.     COMPLETENESS

Your business message is complete when it contains all fact the reader or listener needs for the reaction you desire . Remember that communication senders and receivers  -  differ  in their  mental filter: they are influenced by their backgrounds , viewpoints, needs ,experiences, attitudes, status and emotion. Because of these difference communication senders needs to assess their messages through the eyes of receivers to be sure they have included all relevant information

Completeness offers  numerous benefits. First complete message are more likely to being the desired results without the expense of additional message . Second they can do a better job of building goodwill . Message that contain in formation  the receiver needs show concern for others . Third complete message can help avert  costly lawsuits that may result if important information is missing . Last communication that seem inconsequential can be-surprisingly important if  the information they contain is complete and effective .

Striving for completeness keep the following  guidelines:
. Provide all necessary information
. Answer all question asked
. Give something extra , when desirable


2.     CONCISENESS

. Focus on “You” instead of “I”   or  “We”
. show Audience benefit or interest in the receiver
. Emphasize Politicize  , pleasant Facts

Conciseness is saying what you have to say in fewest possible words without sacrificing the other C qualities . A concise message without being wordy;

Conciseness is a prerequisite top effective business communication . A concise message saves time and expense for both sender and receiver .Conciseness contributes to emphasis; by eliminating unnecessary word, you let important ideas stand out . When  combined with a “You-view”, concise message are inherently more interesting to recipients. Include only relevant material . Finally eliminate wordy expressions.

3.     CONSIDERATION

One correspondence expert says, “When  writing a letter put yourself in your  correspondent`s   shoes sense his feeling and anticipate his reaction “. The reader should know that the writer is aware of and is doing something for the reader `s needs and problem . A successful letter will naturally concentrate on the reader `s interest and take into account his problem , and convenience . Considering comes  from  coutesy.

CONCRETENESS

Concrete and specific expressions are to be preferred in favor of vague and abstract expressions. In continuation of the point on correctness , the fact and figure presented should be specific . Abstraction pr abstract statement can cloud the mind of the sender . Instead of starting : ‘’ There has being a tremendous escalation in the sales figure  by almost 50%  as compared to last year . “The receiver is more apt to listen and comprehend the factual details
        
5.     CLARITY

Absolute clarity of ideas adds much to the meaning of the message. The  first stage is clarity in the mind of the sender . The next stage is the transmission of the message in a manner , which makes it simple for the receiver to comprehend . As  far  as possible  , simple language and easy sentence constructions ,which are not difficult for the receiver to grasp ,should be used

6.     COURTESY

Once the  credibility of the sender has been established , attempt should be made at being courteous in expression . In the business world, almost everything starts with ends in courtesy . Much can be accomplished if tact ,diplomacy and appreciation of people are woven in the message

EXAMPLE
. Ahmed “You can never do things right . Try working on this project . If you are lucky you may not have to redo it”
. Ahmed ”This  is an interesting project, do you think you would be able to do it , know  that  last time something went wrong with project  , but everyone  makes be able to do  wonders”

The  two statement convey totally different impressions . While the first  statement in more accusative, the second is more tactful and appreciative of the effort put in by the receiver at an earlier state . The crux of the message in both the statement is the same : You want an individual within an organization to undertake a project . The manner in which it is stated brings about a difference in approach .Further , expression that might hurt or cause mental pain to the receiver should, as far as possible ,be ignored . For this it become essential that the “I’ –attitude . Development of interest in the “You” will perforce make the other individual also see the point of view of the other . At the time of emphasizing the “You-attitude”, only the positive and pleasant “you-issues” should be considered . if it is being used as a corrective measure , then the result are not going to be very positive or encouraging.

7.     CORRECTNESS

At the time of encoding , the sender should that his knowledge of the receiver is comprehensive . The level of knowledge , educational background  and status of the decoder help the encoder in formulating his message .In case there is any discrepancy between the usage and comprehension of terms , miscommunication can arise . if the  sender decides to back up his communication with facts and figures , there should be accuracy in stating the same . A situation in which the listener is forced to check the presented facts and figure should not arise .Finally the usage of terms should be nondiscriminatory , e.g. the general concept is that women should be addressed for their physical appearance whereas men for their mental abilities . This , however , is a stereotype and at the time of addressing or praising members of both the sexes , the attributes assigned should be the same , similarly  for occupational reference . In the business world almost all profession  are treated with respect . Addressing one individual for competence in his profession but neglecting the other on his score because of so-called “inferior”  profession alientes the listener from the sender .

In short the term correctness , as applied to a business letter or report , mean the writer should;

. Use the correct level of language
. Include only accurate facts ,words and figure
. Maintain acceptable writing mechanics
.  Apply correctly all other pertinent C ‘ s  quality.