"To what extent is effective communication essential for a business to achieve its objectives?"
“To what extent is effective communication essential for a business to achieve its objectives?”
Simon Puncher
Effective communication within a business is the ability for that business to communicate clearly and efficiently with any one of its associated stakeholders. Inefficient communication can be a result of the use of a wrong communication channel for the purpose, noise interfering with the message, or inability’s with the company personnel making the communication. Effective communication can motivate, improve relations and ultimately return greater dividends in the long run.
Customers are a very important stakeholder to communicate with. In a market let, or asset let company, direct customers, and the customers which make up a market needed to be communicated with effectively in order for market trends to be discovered. Knowing what’s popular, or what might soon be within a market could give a company a vital lead over its competitors. Market research in the form of surveys may be used to achieve this. After sales communication with existing customers is also very important. In a market where people are loyal to brands, or infrequently change companies, such as with bank accounts, keeping customers happy will help ensure that a company keeps that customer. The price of communicating is likely to be far less than the loss of customers. Many different channels may be used to achieve this, including letters, telephone calls and advertisements.
