This sample will let you know about:
- What are the differtent types of Business Communication?
- Discuss the importance of Business Communication.
Effective management is the process of controlling and directing individual according to rule and regulations implemented in an organization. It helps to communicate with individual or group of individual to increase their efficiency of understanding objectives of business organization. Effective management also helps to motivate employees to work effectively and decrease cost of operations to increase profitability and market share. This report has a detailed study about management theories which helps to understand driver of change in de-globalisation organization. In addition, this report discuss internal and external communication channel strategies which helps to facilitate success or failure of de-globalised business organization of UK.
Concept of Internal and External Business Communication
Internal Business Communication
Internal communication is exchange of information within business organization which helps to increase efficiency of decision-making of activities of business (Bovée, Thill and Raina, 2016). It is the structural framework which helps employees to understand each other to achieve objectives of organization effectively. Internal communication also helps to develop skills and knowledge to generate innovative and creative thoughts to increase productivity of business firm. For example,
This communication is used in hierarchical structure of business and it is formal communication which flows from top-level management to lower level.
This is informal communication and it is used within the same level of management. Communication between inter-departments are horizontal communication in nature.
External Business Communication
External communication is exchange of information between business and any external source which helps to increase productivity of firm. This helps to formulate effective strategies and let business to stay connected with market to analyse competition. For example
Communication is done with public with help of media to provide transparency about business activities to support business growth and achieve core competency.
Business need to share information with customers and suppliers with help of official website to increase the efficiency of business.
Importance of Internal and External Communication Strategies in Management
Effective internal communication helps business organization to increase shared values of employees to make them loyal and increase their efficiency to achieve their objectives. With help of internal communication training of employees if done effectively which also decreases disputes and develops healthy working environment (Zhao, Fan and Yan, 2016) . Internal communication provides better customer services with help of effective management strategies. This also increases knowledge of managers to make effective policies for business. Get Assignment Examples.Talk to our Experts!
Effective External Communication helps to engage in better change management to increase performance of company to compete with competitors in market. External communication strategies also helps to develop relations with customers to understand their behavioural pattern which provide support to formulate effective marketing plan to increase customer satisfaction. External communication also helps to satisfy all external stakeholders by improving quality of services and products to grow business.
Examples of Effective Communication in Organisations
Buffer- This is a social media management company which promotes communications to increase trust and transparency in their business activities which make this business successful.
Credit Karma- Company uses open door policy which helps to increase communication of employees and also helps them tom improve their moral as being the part of team.
Examples of Ineffective Communication in Organisations
Yahoo- Due to ineffective communication company have lost many employees. Management of Yahoo announced an unclear message which increased turnover and hence declined efficiency of company.
Indicators of De-globalization in Current Global Environment
De-globalization is the process of reducing the dependencies and connections between different countries. Which discourages investments, decline of international trades, increase in import and export tariffs by government. Due to Brexit it increased de-globalization in country and decreasing its economic stability gradually (What are the indicators of deglobalization?, 2020) De-globalisation emerged due to increased inflations and higher interest rates which decreased ability of business organization to compete in global environment and leads to failure. This has impacted several economies and discouraged to be globalized.
Decline in global demand due to increase in import and export barriers in many nations which have discouraged international trades (Quinlan and et.al., 2019) . The global Gross Domes tic Product rose from 30 percent to 60 percent which accounted in globalization and helped to grow nation effectively. Although due to recession growth rated declined to 55 percent which shows the presence of de-globalisation and impacted the global growth index adversely. Order assignment help from our experts!
Flow of Capital
Banks are the major factor to increase flow of capital in every nation but due to decrease in global demand it resulted in financial crisis globally (Van Grembergen and De Haes, 2018). New regulations and financial laws has also impacted the flow of capital to support business growth to support economy of nation. This resulted in downfall of GDP from 16 percent to below 2 percent.
Flow of People
The flow of people is very essential to increase the manpower of nation to move towards growth and productivity. As the trends shows people from poor countries travel to rich counties to improve their financial condition this also contributes in economic growth of rich nations. This provides skilled labour and talents in country to increase efficiency to achieve growth of business. The rate of migration from poor to rich countries declined from 12 million to 4 million people in past five years.
Winner and Looser Businesses Due to De-globalization
De-globalization have also impacted many businesses positively and negatively and have discouraged them to work internationally (What is deglobalisation?.2020). Due to de-globalization major manufacturing units increased their growth within the nation as slight impact monopolistic market. It also helped increase job opportunities for UK population to improve their standard of living. De-globalisation also helps company to decrease cost of international trades and increases profitability to grow faster within the country. This also helped businesses to retain employees from going across country for job opportunities.
De-globalisation impacted the businesses which are operated in developing or poor countries. It also adversely impacted the jobs of people which are working in import and export business in UK and this also decreases the strength of businesses directly linked to international trades. Businesses which need low rate capitals were the losers as migrations from poor countries are deceased.
- Toyota was impacted negatively due to de-globalisation as company lost all their suppliers and low cost labour which is required in manufacturing due to Brexit.
- Royal Bank of Scotland suffered a lot due to disinvestments from UK.
- Easy jets also became looser as company have to calculate the cost and routes after de-globalisation from UK.
Comparison Between Leadership Styles of Banks and Online Businesses
Leadership and management styles are very essential in the banking sectors as it helps to manage their employees and motivate them to achieve their objectives effectively. Banking sectors adopt transformational leadership and management style which helps to implement change in the organization (Werhane, Freeman and Dmytriyev, eds., 2017). This helps banking sectors to set high objectives and formulating strict polices to achieve those objectives to increase growth of banks. This also helps employees to push their capabilities and increase set of skills and knowledge to reach their team goals. Banks also uses Transactional management style which helps to motivate all employees by providing financial rewards according to the deadlines.
Online business uses Autonomous leadership styles due to high competition in market and rapid increase of technology also need effective teams. Online company treats every employee as their leader and also provide authority to take their decisions which increases ability to innovate and retain employees in company. Employees in online companies are distributed in teams which have autonomous leaders and every employee of different departments which helps to decrease the communication gaps and make effective decisions to increase the ability of company. The focus of online companies is to provide better skills and knowledge to their employees which motivate them to acquire leadership qualities and increase productivity of online companies. Struggling with your dissertation, get our dissertation editing services at best prices.
Leadership Styles and Examples
In my opinion the most suitable leadership styles for modern global organization is autonomous leadership style as it helps to provide better opportunities to employees and help to encourage them to develop their own cultures into small teams to attain common objectives of company effectively. This style also help to increase the quality of employees skills and knowledge and providing them with effective responsibilities to increase decision-making. This leadership style is cost effective and also removes middle level managers from the management structures giving better transparency of work.
Spotify is one of the major online music streaming company which has employed more than 2000 employees. Company has successfully implemented autonomous leadership style with help of dividing employees into squads which are managed by the team squad members itself (Erasmus, Strydom and Rudansky-Kloppers, eds., 2016). This helps to improve communication within organization and helps to provide transparency of decisions to formulate effective strategies for company. Each squad have all the types of skills and knowledge which are required to run a company.
This report concludes that internal and external business communication is very essential in growth and expanding business organization in market. Communication also helped to improve management activities and increasing efficiency of employees to achieve its objectives effectively. Report also discussed impact of de-globalisation on different businesses which helped to contribute in economy of nation earlier. This reported helped to understand the importance of autonomous leadership style to increase growth of business and motivate employees be loyal to company.
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