Business Communication Fundamentals of Oral Communication

Question: Discuss about theBusiness Communicationfor Fundamentals of Oral Communication. Answer: 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. Todays 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). Importance of Business Communication In todays 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 organizatio n 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, organizations 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: Cost effectiveness: There is no big cost associated to send an email, it is nearer to free. Earlier the only modes of communication included postal stamps, telegrams, postal services, etc. However in this 20th century emails are one of the cheapest means of communication when compared to older communication means. The communication technology has also aided businesses to automate their processes that have restructured made remarkably cost effective. This in return has assisted the business organizations to surge their productivity leading to more profits. Communication speed time: In todays contemporary world, an organization is able to save huge sum of money because it has turned out to be very quick simple to move information from one place to another. The ICT has made it possible for the companies to become more quick effective to contact either a business or a family member. Individuals companies are now able to communicate, correspond and contact anyone, anywhere at any corner of the world by simply sending a text message via mobile, or sending an email from internet, for a quick response. All these innovations in technology has made technology quite cheaper than it used to be in past. Online communication has aided the organizations having workplaces in different locations to come together across distances (Guffey, Rhodes, Patricia, 2011). Now, well describe social networks how these social networks affect the way businesses are operating today. Also, well explain how the implementation of social media in ANZ Bank will benefit the organization. At last well discuss the challenges that are being faced due to social media in the workplace. ANZ is the worlds 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 todays 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: Networking: It permits ANZ Bank to communicate via traditional voice video systems that are petty secure. Networking also permits collaboration on programming, reporting other document production, taking communication from conventional interactions to a new mode of virtual partnership. Business Management Applications: With the Customer Relationship Management platform, Salesforce promoted the idea of multi-tenant cloud-based business applications. Because the launch in late 90s of the Salesofrce, numerous other business management groups have followed suit, comprising ERP, human resource management, professional services automation, marketing automation, etc. These business management applications are being used by ANZ bank to handle their huge customer database. Office Email Applications: For numerous organizations including ANZ Bank, G Suite from Microsoft office Google have eradicated the requirement for desktop email client even in-house email server. Although, desktop presentation slide, documents spreadsheets applications are still have more features than their cloud equivalents, the latter are improving continuously. Integration Application: Because of the absence of corporate firewalls robust APIs, integration between the cloud based applications could be just a few clicks away with the applications such as Zapier. Suppliers like Jitterbit, MuleSoft, Scribe Informatica are sighting extensive adoption in enterprises including ANZ Bank. (Bovee, Thrill, 2004). Customer Self Service: The transition to Comprehensive self-service from live human customer service has been a jerky road. For a long time, online self-service left a lot to be anticipated. However, social consumer service offerings like Lithium devoted support application like Zendesk, consumers can get almost all their concerns questions addressed swiftly online and this technology is also being used by ANZ Bank. Consumer Feedback: Applications like GetSatisfaction UserVoice are being adopted by ANZ bank that allow software developers to improve the end user experience grounded not only on what they consider the requirement of the customer is but also on what consumers sat they desire for. Over the period of time these applications have also assisted in adding the functionality of customer self-service. 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 todays 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 Instructors 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.