Business Comm. Notes

Download as pdf or txt
Download as pdf or txt
You are on page 1of 67

In Business, clear communication is very essential.

Improper
communication skills may lead to confusing or incomplete
instructions, data, or other information to pass to the intended
audience.

TYPES OF COMMUNICATIONS ARE:

1. Verbal
This involves the use of language and words to pass on the
intended message. In general terms, Verbal Communication means
communication in the form of spoken words only. But, in the
context of types of communication, verbal communication can be
in spoken or written form.

 Written Communication: This kind of communication


involves any kind of exchange of information in written
form. For example, e-mails, texts, letters, reports, SMS,
posts on social media platforms, documents, handbooks,
posters, flyers, etc.
 Oral Communication: This is the communication that
employs the spoken word, either direct or indirect as a
communication channel. This verbal communication could
be made on a channel that passes information in only one
form i.e. sound.
You could converse either face to face, over the phone, or
via voice notes or chat rooms, etc. It all comes under oral
communication. This form of communication is effective
to form.

Non-Verbal Communication

In this type of communication, messages are relayed without the


transmission of words. The messages here are wordless. This form
of communication mainly aids verbal communication. It

1
supplements it with gestures, body language, symbols, and
expressions.

Through these, one may communicate one’s mood, or opinion or


even show a reaction to the messages that are relaid. One’s non-
verbal actions often set the tone for the dialogue. You can control
and guide communication if you control and guide non-verbal
communication. Some of the modes of non-verbal communication
are:

Physical Non-verbal Communication


This is the total of the physically observable. For instance, hand
gestures, body language, facial expressions, the tone of one’s
voice, posture, stance, touch, gaze, and others. Several
researchers have revealed that physical nonverbal communication
constitutes about 55% of our daily communications. These are
subtle signals that are picked up as part of our biological wiring.

Paralanguage
This is the art of reading between the lines. The main kind of such
communication is done with the tone of one’s voice. This kind of
communication amounts to almost 38% of all the communication
that we do every day. Along with the tone of voice, the style of
speaking, voice quality, stress, emotions, or intonation serves the
purpose of communication. And, these aspects are not verbal.

Aesthetic Communication
Art is an important means of communication. Through paintings or
other forms of art, an artist can convey the strongest messages.
Several times in the history of the world, art has been used as an
effective form of nonverbal communication.

2
Appearance

The first impression sets the tone. People will react to your
appearance and this is a fact of life. Your clothes, the color of the
fabrics, etc. all determine the reaction of your audience.

Visual Communication

This is communication through visual aids like drawings, placards,


presentations, illustrations, etc.

Components
The components involved in the successful implementation of the
basic communication model are as follows −
 Sender − Who sends the message?
 Encodes − Translates messages into symbols like
words, pictures, sounds, etc.
 Channel or medium − It is used to transmit messages.
Some channels are face-to-face communication, over
the telephone, letters, television, newspapers, radio,
etc.
 Decode – The receiver decodes these symbols to
understand what the sender wants to say.
 Receiver − A person who receives the message.
 Feedback − After receiving a message, the receiver
sends feedback to the sender, answers, and what he
understands from the message.

THE 7 C’S OF COMMUNICATION

The seven C’s of communication is a list of principles for written


and spoken communications to ensure that they are effective.

3
The seven C’s are: clear, correct, complete, concrete, concise,
considered, and courteous.

CLEAR

Firstly, it’s important to be clear about the purpose of the


message you’re delivering. The recipient should be made
aware of why they are receiving the message and what
you’re trying to achieve by delivering it. If there are multiple
goals, each should be laid out separately.

Secondly, the content of the communication must be clear.


You should avoid jargon, use simple language, use simple
structures and focus on the core points of your message.

CORRECT

Both the factual information and the language and grammar


you use must be correct.

COMPLETE

When creating a message, it’s important to give the


recipient all of the information they need to follow your line
of reasoning and reach the same conclusions you have. This
level of detail will be different in different situations, and you
should adjust your communications accordingly.

CONCRETE

When shaping your communication you must ensure that


you are specific and that the logic and messages that you’re
using fit together, build on each other, and support each
other. Your arguments should be based on solid facts and
opinions from credible sources and you should share
irrefutable data to support your argument.

4
CONCISE

When communicating messages of this nature it’s important


to stick to the point and keep your messages short and
simple.

CONSIDERED OR COHERENT

If your communications are not coherent they will not be


effective. To help make sure your communications are
considered coherent you should have a logical flow and your
style, tone and language should be consistent throughout.

COURTEOUS

You can increase the effectiveness of your communications


by being polite and showing your audience that you respect
them. Your messages should be friendly, professional,
considerate, respectful, open, and honest.

WHAT ARE CORPORATE COMMUNICATIONS?


Corporate communications refer to how businesses and
organizations communicate with internal and external various
audiences. These audiences commonly include:
 Customers and potential customers
 Employees
 Key stakeholders (such as the C-Suite and investors)
 The media and general public
 Government agencies and other third-party regulators

Required Skills for Corporate Communications


Some of the most important skills include:

5
1. Writing skills
As a member of the communications department, you will likely
spend the majority of your day writing copy in various formats,
from emails and memos, to blog posts and articles, to website
copy, social media posts, printed collateral, and more. To be
effective in the role, you will need to hone your writing skills so
that you can communicate clearly to diverse audiences across
many formats.
2. Presentation and public speaking skills
Presentation skills have become more important in recent years.
In fact, according to one survey of corporate recruiters, it’s in
the top five skills that companies look for when filling positions.
Communications professionals are regularly expected to interface
with the public and members of the media, as well as fellow
employees and internal stakeholders. The ability to clearly and
confidently present your ideas and information, whether in person
or through the aid of technology (such as a video or webinar) is
expected in many roles.
3. Communicating with data
Organizations now collect more data than at any point in history,
all of which are critical in informing important strategic decisions.
As data has proliferated, employees across disciplines are finding
that they must interact with this data in new ways. Modern
communications professionals must be adept at interpreting data
from a variety of sources, communicating with that data,
and using it to tell compelling stories.
4. Research and critical thinking
Depending on your exact role within an organization and the
types of communication that you are expected to create, you may
find yourself spending a lot of time searching for resources that
can inform your content. The ability to conduct research and—
more importantly—evaluate your resources critically, is an
essential part of many communications roles.

6
5. Technical skills
The International Association of Business Communications states
that the five most important technology trends impacting
corporate communications are chatbots, blockchain, virtual
reality, extremely-personalized experiences, and artificial
personal assistants. Many (if not all) of these technologies are
being driven by developments in machine learning and artificial
intelligence, which threaten to automate many roles. Developing
your technical skills can help you remain competitive in this new
reality.

The Functions of a Communications Department


In most organizations, the communications department is
responsible for overseeing a wide range of communications
activities. One of the simplest ways of understanding these
different activities is to group them according to the role that
they play within an organization, as below.

1. Media and Public Relations


This refers to how a company or organization communicates with
the general public, including the media, by:
 Organizing news conferences, product launches, and
interviews, and creating materials (banners, flyers, etc.) for
such events
 Writing and distributing press releases to the media to
garner coverage
 Monitoring the news for mentions of the organization, its
product, and key employees such as stakeholders and
members of management
 Devising a plan to address unfavorable press coverage or
misinformation

7
2. Customer Communications and Marketing
Corporate communication strategy often impacts marketing
strategy, and vice versa, which has increased cooperation and
collaboration between the two functions.
It is not uncommon, therefore, for members of the
communication department to help generate various marketing
materials and general customer communications, including:
 Marketing emails
 Brochures
 Flyers
 Newsletters
 Website copy
 Social media strategy

3. Crisis Communication
Crisis communication refers to the specific messaging that a
company (or individual) portrays in the face of a crisis or
unanticipated event which has the potential to damage its
reputation or existence. In the event of such a crisis, it is the
responsibility of the communications department to create a
strategy to address it which may include:
 Organizing interviews and news briefings for company
representatives to discuss the issue at hand
 Advising company representatives on what to say and how
to say it when speaking with members of the media
 Communicating with attorneys, government regulators,
emergency responders, and politicians as necessary
 Generally protecting the organization’s reputation and ability
to do business

8
4. Internal Communications
In addition to being responsible for communicating the
organization’s message with external audiences, most
communications teams will play at least some role in internal
communications, including:
 Drafting emails and memos announcing company news and
initiatives
 Compiling employee resources (such as information about
employee benefits)
 Creating printed materials, such as employee handbooks or
flyers
 Facilitating group brainstorming sessions and training
sessions among employees
 Managing internal blogs, newsletters, or other publications

LISTENING SKILLS

Active Listener: There are five key active listening techniques you
can use to help you become a more effective listener:

1. Pay Attention

2. Show That You're Listening

3. Provide Feedback

4. Defer Judgment

5. Respond Appropriately

9
WHAT ARE PRESENTATION SKILLS?

Presentation skills include everything you need to effectively


execute every stage of a speech. That includes the research,
organization, delivery, and post-delivery analysis. In the
workplace, you may need to present reports to your coworkers or
manager, lead training sessions, or present project updates to
clients. A great presentation needs to be well-organized,
engaging, and relevant.

Important presentation skills for business

1. Research

The first stage of a presentation is gathering all the information


that you will need to include. To begin, brainstorm what kind of
information you will need and where you are most likely to find it.
Once you have all the needed information, gather it in one place.
Then, interpret that information and take note of the important
findings and results.

2. Organization

Once you have all of your data and you have developed a
conclusion, the next stage of the process is organizing everything
into a logical narrative. To do this, you need to think about how
the different points you want to make relate to each other and
which examples or statistics will most effectively illustrate each
point. Then, you need to plan out the order in which you deliver
this information. Create an ordered outline that will make sense
to the audience and include all the main points. You will also need
to prepare the visual materials you are using, such as a
PowerPoint presentation or handouts. As you create these, be
concise and only include the most important pieces of data or
conclusions.

3. Delivery

10
Once your presentation is ready, the next stage is the actual
presentation, which will require strong public speaking skills and
excellent verbal and nonverbal communication skills. Project
confidence with your body language. As you are speaking, make
sure your back is straight and your shoulders are back. Try not to
rush through your presentation. Focus on pronouncing each word.

4. Analysis

Once your presentation is done, consider your successes and


where you could improve. Think about how well you did in each of
the previous stages. Consider how your audience responded to it
and whether or not they seem to have absorbed the main points
you needed to communicate. Identify the skills you need to work
on to do better at your next presentation.

IMPORTANT ASPECT OF EFFECTIVE PRESENTATION

the three most important elements that make an effective


presentation.

Understand the Audience: Knowing the audience is the most


important aspect of a presentation. After identifying the audience,
the context and style of the presentations should align with that.
The presenter must know if they are friends or colleagues or
students or bosses or if the audience is public.

Clarity & Understandable context: Clarity and easiness to


understand the context of each slide decide a successful
presentation. A presentation should be free from Jargon, Complex
words, or buzzword as not all of the audience will be aware of
such words. A beautiful and effective technique is this aspect
used to be used by Steve Jobs for all the presentations that he
used to give is called “Twitter-Friendly Headlines”. This technique
states that when you are preparing for a presentation, the

11
context of each slide and topic should be expressed in 140
characters and it should be understood easily. While preparing a
presentation, select those words and topics that have the most
impact and create the most value.

Delivery and Presentation- To give an effective presentation, it


is an absolute must that the presenter is well-rehearsed and
prepared with what needs to be presented to the audience.
Storytelling and engaging the audience with questions are two of
the most used and very effective techniques for keeping them
focused on your presentation.

WHAT IS ETHICAL COMMUNICATION IN


BUSINESS?
Ethical communication is a type of communication that has its
foundations in certain ethical principles, reports SMB Advisors.
These principles include being open, truthful, and responsible in
your dealings with others so as not to be misleading. It specifies
that there are certain things you don't do, such as lying or
implying to a customer that your product will yield better results
than that of a competitor's product to make more sales.

The Characteristics of Ethical Communication

1. Honesty: Honesty is the act of communicating a message


clearly and truthfully. Any attempt to massage or sugarcoat
the information is not ethical communication.
2. Transparency: It is possible, to tell the truth, but not the
whole truth, and partial communication rarely is ethical
communication.
3. Professionalism: Ethical communication in business is not
just a question of personal moral standards but an
expression of professionalism. The way to communicate
professionally is to think long-term. There may be times

12
when you may feel the urge to mouth off and shout at
someone or put them down, and that might even make you
feel powerful and in control. In reality, losing your
professionalism can destroy your future workplace
relationships.

4. Consistency: Consistency requires that the information


you present to different parties is logical and compatible, so
you cannot confuse people with contradictory messages.
5. Responsibility: Communicating with ethics means that
you don't write an ambiguous message to give yourself
plausible deniability if the recipient takes the message the
wrong way. It also requires you to tailor your message to
overcome any potential roadblocks. Ethical communicators
refrain from manipulation, evasion, and other linguistic
gymnastics. They dare to be as transparent as possible.

LEGAL ASPECT OF BUSINESS COMMUNICATION


Business communication competencies tend to focus on building
relationships and achieving productive results, but the legal
aspect must also be considered. Certain areas of business
communication are strictly regulated by law, while others can
lead to potentially harmful civil litigation. Understanding the
potential legal consequences of communication in business is
essential for entrepreneurs, managers, and front-line employees
alike.

 Product Disclaimers: Product and service disclaimers


protect businesses from potentially harmful litigation in the
event of misuse or misunderstanding by customers.
Disclaimers can be used in court to prove that customers
were warned about dangers and risks before using a
product or service. Disclaimers can be found in a variety of

13
media, including product packaging and commercial
advertisements, or even in sales conversations. Financial
advisers must include disclaimers related to the risks
inherent in following their advice, for example, while
healthcare products are required to list potentially harmful
side effects.
 Legal Disclosures: Legal disclosures are similar to
disclaimers but less specific. Although disclaimers are a
type of disclosure, other types of disclosures can be legally
significant as well. Conflict-of-interest disclosures for stock
analysts and financial advisers are one example, as are
references for research-based claims in marketing.
 Marketing Communications: Advertising and sales
communications must follow legal guidelines for honesty
and accuracy. overview of advertising and marketing law,
advertising claims must be honest, non-deceptive, and
based on factual evidence.

 Financial Reporting: reporting can be considered a form


of business communication since it involves formally
presenting information to investors, regulators, and the
general public. Using deceptive accounting practices to
misrepresent company finances is a weighty legal matter
potentially resulting in lawsuits, fines, or even criminal
charges, not to mention damage to a company's brand
reputation.

UNIT 3
WHAT IS TEAM COMMUNICATION?

A team is a collection of people who must work interdependently


to achieve a common goal or output.
14
How Does Team Communication Work?

Team communication takes many shapes and forms, from verbal


communication to digital forms of written communication, to
things that are left unsaid.

Communication formats and channels

 Verbal team communication: team meetings, one-on-one

interactions, water-cooler conversations, calls


 Written communication: paper documentation, electronic
documentation, emails, team chat, tasks

it is the team manager’s responsibility to choose the appropriate


channels for team communication, ones that help them achieve
their team’s goals.

Communication styles

the team manager has to make sure their communication style


works for the team. Some teams lean more towards a top-down
kind of interaction, while other teams are flatter and encourage
two-way communication. The primary communication styles are

15
Dominant, Influence Conscientious, and Steady.

BUSINESS NEGOTIATIONS
Negotiations can be called a way of resolving disputes. It is
considered as being synonymous with the settlement, agreement,
collaboration, and bargaining. Negotiation involves a minimum of
two parties. The aim of negotiation is understood by both parties.
The parties are willing to arrive at a mutually agreeable outcome.
The outcome is acceptable to both parties.

There are certain do’s and don’ts in case of negotiations:

16
o Do not discuss too many issues, emphasize the prior
issues.
o Be honest and straightforward. Don’t get carried away by
rumors.
o Never give deadlines, it might lead to delays in deals.
o Keep away personal differences. Just focus your
arguments on facts.
o Keep on giving recaps during the negotiation process.
o Avoid being rigid. Listening to the other party’s point is
valid.
o Give testimonials for your argument. Support your
argument with facts.
o Don’t make demands which can’t be accepted at all.
o Don’t let emotions overwhelm you.
o Be optimistic. Don’t fear losing. There are opportunities
in other transactions also.

NEGOTIATION SKILLS

1. Communication

To achieve your ideal outcome at the bargaining table, it’s


essential to communicate what you’re hoping to walk away with
and where your boundaries lie. Effective communication skills
allow you to engage in a civil discussion with other negotiators
and work toward an agreeable solution.

2. Emotional Intelligence

Emotions play a role in negotiation, for better or worse. While it’s


important not to let them get in the way of reaching a mutually
beneficial deal, you can use them to your advantage. A high
degree of emotional intelligence is needed to read other parties’
emotions. This can enable you to more easily pick up on what
they’re implying rather than explicitly stating. In addition to
understanding what you and others are experiencing throughout
17
a negotiation, emotional intelligence can help you advantageously
manage and use emotions.

3. Planning

Planning with a clear idea of what you hope to achieve and where
your boundaries lie is an essential step in any negotiation.
Without adequate preparation, it’s possible to overlook important
terms of your deal. it’s beneficial to understand your best
alternative to a negotiated agreement (BATNA). If your discussion
lands in a negative bargaining zone, your BATNA is the course of
action you plan to take if the negotiation is unsuccessful. Knowing
your BATNA ahead of time can help ensure you have a backup
plan in case an agreement can’t be reached and avoid leaving the
table empty-handed.

4. Value Creation

Creating value in a negotiation is one of the most powerful skills


you can add to your toolkit. To break free of this traditional idea
of negotiation, experts suggest shifting your goals from growing
your slice to growing the whole pie. The benefits are twofold:
First, each party can realize greater value; second, a sense of
rapport and trust is established, which can benefit future
discussions.

5. Strategy

In addition to thorough preparation and the ability to create


value, you need a clear understanding of effective negotiation
tactics. Knowing what works and what doesn’t can allow you to
create a tailored strategy for every negotiation you participate in.
To develop a strong negotiation strategy, consider the following
steps:

 Define your role


 Understand your value

18
 Understand your counterpart’s vantage point
 Check in with yourself
Following this process ahead of each negotiation can enable you
to formulate a clear plan of action for the bargaining table.

6. Reflection

Finally, to round out your negotiation skills and develop your


proficiency, you need to reflect on past negotiations and identify
areas for improvement. After each negotiation—successful or
not—reflect on what went well and what could have gone better.
Doing so can allow you to evaluate the tactics that worked in your
favor and those that fell short. After evaluating your strengths
and weaknesses, identify areas you want to work on and create a
plan of action.

Managing Conflict in an Organization Through


Communication
In busy work environments, good communication can feel like a
luxury no one has time for. This can become problematic in many
ways, including setting poor expectations, creating
misunderstandings about who was responsible for what, and, of
course, creating conflict between employees and/or managers.
Managing conflict in an organization through communication
that’s respectful, inclusive, and clear can change all that.

Respect Personal Differences: Establishing a company


culture that normalizes inclusion, diversity, and effective
communication can help reduce the need for communication and
conflict resolution in the workplace. No same person has the
same personality traits.

Learn how to Listen: Communication requires both giving and


receiving information and sometimes we can be hearing someone
speak without really listening to what they’re saying. It’s common
to find yourself preparing a response while someone else speaks,
being distracted by other thoughts or nearby devices, or jumping

19
to conclusions without taking the time to understand what’s being
said. Building listening skills can up the ante at work and home
and demonstrate some serious leadership skills.

Ask When You Don’t Understand: Not asking for clarity when
you need it can increase stress and a higher chance that you’re
missing the mark on your end of the deal. Always ask when
you’re not sure so that you can learn and communicate more
effectively while avoiding potential conflict in the workplace.

Managing conflict in an organization through communication can


be difficult if everyone on the team is starting from somewhere
different. But communication is a necessary skill to grow to limit
negative experiences at work.

Social Media Effects on Communication

Around 3 billion people use social media today, which means that
40% of the world uses social media for communication. It’s no
surprise that this widespread use has social media effects on
communication.

11% of adults reported preferring staying home on Facebook


than going out on the weekend. Communication is affected in
ways such as personal expression, our expectations of others,
and the way companies communicate with customers.

Exposure to Messaging

Information Overload

Many people tend to binge on social media, spending hours and


hours scrolling through sites. Ultimately, this may lead to a
constant craving for more internet and more social media
consumption. The more people get, the more they want — and
it’s hard to stop the cycle.

20
Young People Read News

Social media has made reading the news cool again. According to
Wibbitz, 23% of young users get news from social media, and a
whopping 61% get political news from Facebook. On social
media, people share interesting news they read, and they can
follow various news sources’ pages.

Getting the Full Picture

Stories — a part of Instagram, Snapchat, and Facebook — mean


that people get the full picture of an event, activity, or occurrence
in someone’s life. We no longer just get a snapshot of a home-
cooked meal, we might see the entire process from start to finish.

This has changed the way people think about what to post —
there is much less thought put into a post when it is a story that
will be erased after 24 hours.

Self Expression

Sense of Urgency

No one has to wait for longer than a few hours for a response,
and people have come to expect that timeline for conversations.
There is so much of a sense of urgency that people are often
anxious if they haven’t heard back from a family member, friend,
or partner in several hours.

Need to Share

Social media has created a feeling among users that they must
share whatever they are doing — from restaurant orders to
concerts, to the books they are reading. This can be a social
media positive effect because people are getting more exposure
to things they might not otherwise, such as new reads. But it can
also be a negative effect as it can urge people to become
21
dependent on posting anything occurring in their own lives and
paint those occurrences as rosier than they truly are.

How We Value Ourselves

When people see others having a wonderful life, as represented


on social media, they tend to have a negative self-image, and
start to devalue their ways of life. In addition, there is a feeling of
needing to paint an inaccurately positive and ‘fun’ version of
one’s own life which leads to feelings of negativity about one’s
‘real’ life.

Inside Perspective of Afar

One of the positive effects of social media is the ability to get an


intimate view of other cultures and places. With social media,
especially Instagram, users can see what others are doing around
the world. People are exposed to travel ideas, new cultures, and
ways of life unlike before.

Communication Style

1. Summarized Writing

Starting with the limited-character text messaging of the 2000s,


and nowadays with the 140-character tweet, messages have
been getting shorter. Other areas of communication have adapted
for summarized writing as well, such as shortened work memos,
shortened academic communication between students and
professors, and shortened messages in advertising.

Abbreviations

The abbreviated style of communicating that became popular


when text messaging started in the 00s has continued into online
conversations. It has also made its way into traditionally non-

22
abbreviated forms of communication such as spoken language,
email communication, and even academic forms of writing.

Unfiltered Interactions

Social media and internet interactions offer a veil between the


person sending and the person receiving the message. These
interactions are no longer face-to-face, and this can lead to some
unfiltered conversations as people feel they can say anything with
no repercussions.

Viral Messages

That quick and easy “share” button on so many social media


platforms has led to the phenomenon of “going viral.” Messages,
videos, and other content can be easily shared between platforms
with millions of people in a matter of days.

In Business

1. Building a Community

By utilizing social media, brands can create an entire community


based on their products or services. The use of a particular brand
can be integral to being a part of a certain lifestyle, and social
media perpetuates that idea.

Brands Are Speaking Directly to Audiences

Companies no longer need to go through media such as TV


stations, magazines, or newspapers to reach consumers. Brands
now have direct access to customers by way of social media —
they can now find out exactly the needs of the customer much
faster and respond accordingly.

23
Social Media is Changing Traditional Media

Traditional media was such that a brand would just post an article
and it would reach audiences. Social media and the way,
information reaches consumers today make so that it important
who is posting or writing about a product. Influencers, bloggers,
and Youtube celebrities can all have a much bigger impact on
getting a product successful in the market.

There’s an opportunity to Coordinate with PR Efforts

Brands can create some important PR campaigns through social


media. Through social media, companies have an easier time
finding influencers to work with, other brands to collaborate with,
and news sources to feed stories to.

Brands Can Have a More Personal Connection with the Media

With social media, brands have a more personal and long-term


connection with journalists. Instead of a one-time phone call or
email for a story or new product information, brands can create
relationships with journalists and get them interested in sharing
their stories.

What is digital communication?

The process of transmitting information digitally by devices is


Digital communication. It gives the facility of video conferencing
that saves a lot of effort, time, and money. It is easier, cheaper,
and faster as it can be done over large distances via the internet
and other things. As compared to analog, the implementation of
hardware in digital circuits is more flexible.

Advantages of Digital Communication

The benefits of digital communication over analog are listed as


follows -

24
1. In digital signals, the impact of noise interference, and
distortion is less.
2. It facilitates video conferencing which saves time, money,
and effort. We can perform video conferencing with
someone or a group of people without any traveling. In
video conferencing, we can see facial expressions, which
help read the reaction of people.
3. It is easy to implement, and less expensive.
4. It is used in military applications.
5. The correction and detection of errors are easy in digital
communication, as there is a use of channel coding.
6. As compared to analog signals, it is easy to save and
retrieve digital signals.
7. In digital signals, the configuring process is easy as
compared to analog signals.
8. There is a common encoding technique in most digital
circuits, so for several processes, similar devices can be
used.
9. The probability of cross-talk is very less in digital
communication.
10. The implementation of hardware is more flexible in
digital communication.

Disadvantages of Digital Communication

The limitations of digital communication are listed as follows -

1. There is high power consumption in digital communication.


2. There is a requirement for synchronization in the case of
synchronous modulation.
3. There is a sampling error.

25
4. The most common limitation of digital communication is that
it requires more transmission bandwidth. It is due to the
higher data rate because of analog to digital conversion.
5. Digital communication requires analog to digital conversion
at a high rate.
6. There can be a possibility of miscommunication if a user
doesn't understand something.

The dos and don’ts of digital communication in the


workplace
 DO use different digital channels.
 DON’T overload your employees with notifications.
 DO tailor your message.
 DON’T forgo training.
 DO encourage social sharing.
 DON’T underestimate the power of a company-wide policy.

UNIT 4

Cross-Cultural Communication
Cross-cultural communication has become strategically important
to companies due to the growth of the global business,
technology, and the Internet. Understanding cross-cultural
communication is important for any company that has a diverse
workforce or plans on conducting global business. This type of
communication involves understanding how people from different
cultures speak, communicate, and perceive the world around
them.
Cross-cultural communication in an organization deals with
understanding different business customs, beliefs, and
communication strategies. Language differences, high-context vs.
low-context cultures, nonverbal differences, and power distance
are major factors that can affect cross-cultural communication.

26
High- vs. Low-Context Culture
The concept of high- and low-context culture relates to how
an employee's thoughts, opinions, feelings, and upbringing affect
how they act within a given culture. North America and Western
Europe are generally considered to have low-context cultures.
This means that businesses in these places have direct,
individualistic employees who tend to base decisions on facts.
This type of businessperson wants specifics noted in contracts
and may have issues with trust.
High-context cultures are the opposite in that trust is the most
important part of business dealings. Some areas in the Middle
East, Asia, and Africa can be considered high context.
Organizations that have high-context cultures are collectivist and
focus on interpersonal relationships. Individuals from high-
context cultures might be interested in getting to know the
person they are conducting business with to get a gut feeling on
decision-making. They may also be more concerned about
business teams and group success rather than individual
achievement.

The L.E.A.R.N. Model of Cross-Cultural


Communication
Listen: Assess each patient’s understanding of their health
condition, its causes, and potential treatments. Elicit expectations
for the encounter, and bring an attitude of curiosity and humility
to promote trust and understanding.

Explain: Convey your perceptions of the health condition,


keeping in mind that patients may understand health or illness
differently, based on culture or ethnic background.

Acknowledge: Be respectful when discussing the differences


between their views and your own. Point out areas of agreement
as well as difference, and try to determine whether disparate
belief systems may lead to a therapeutic dilemma.

27
Recommend: Develop and propose a treatment plan for the
patient and their family.

Negotiate: Reach an agreement on the treatment plan in


partnership with the patient and family, incorporating culturally
relevant approaches that fit with the patient’s perceptions of
health and healing.

The R.E.S.P.E.C.T Model of Cross-Cultural Communication

 Rapport
o Connect on a social level
o Seek the patient's point of view
o Consciously attempt to suspend judgment
o Recognize and avoid making assumptions
 Empathy
o Remember that the patient has come to you
for help
o Seek out and understand the patient's
rationale for his or her behaviors or illness
o Verbally acknowledge and legitimize the
patient's feelings
 Support
o Ask about and try to understand barriers to
care and compliance
o Help the patient overcome barriers
o Involve family members if appropriate
o Reassure the patient you are and will be
available to help
 Partnership
o Be flexible about issues of control
o Negotiate roles when necessary
o Stress that you will be working together to
address medical problems
 Explanations

28
o Check often for understanding
o Use verbal clarification techniques
 Cultural Competence
o Respect the patient and his or her culture
and beliefs
o Understand that the patient's view of you
may be identified by ethnic or cultural
stereotypes
o Be aware of your own biases and
preconceptions
o Know your limitations in addressing medical
issues across cultures
o Understand your style and recognize when it
may not be working with a given patient
 Trust
o Self–disclosure may be an issue for some
patients who are not accustomed to Western
medical approaches
o Take the necessary time and consciously
work to establish trust

3 Basic Elements of Cross-Cultural Communication

1. Language: Verbal communication is how people most


explicitly convey information from one person to another,
so knowing how to speak different languages greatly
empowers people to connect across cultural divides. Once
you overcome language barriers, you remove the greatest
obstacle to free-flowing communication. A conversational
level of fluency might be all that is necessary.
2. Nonverbal communication: Sometimes body language—
such as eye contact or facial expressions—might be all it
takes to communicate certain information across cultures.
Still, nonverbal communication often takes on different
meanings among different cultural groups. For instance, an

29
inoffensive hand gesture in one culture might be offensive
in another.
3. Social norms: Different cultural norms lead to different
communication styles. For example, in high-context
cultures (such as in Japan and China), people talk about a
subject gingerly rather than take a more blunt approach. By
contrast, low-context cultures (such as in the United States
and Germany) generally prefer more direct forms of
communication.

Business Etiquette Is Different In Different Cultures

 Time management: Should you be early or late?


Good timekeeping is a core element in business etiquette but in
global culture, people appreciate time differently. In Germany,
China, and Australia, punctuality is valued highly, and if you're
late for your appointment, you might be considered rude or
arrogant.

But time is not that big a deal everywhere. If you travel to the
United Arab Emirates (UAE), Spain, Russia, or even France,
punctuality isn't that important. When you realize that you're the
only one that arrived early for a meeting, don't feel offended.
Instead, be patient.

 Body language: How should you behave?


In Spain, Greece, or Arab countries, strong eye contact is
common practice, but in Japan or Finland, this would be
considered intrusive. Another aspect is the use of gestures,
especially during presentations. In Italy and the United
States, arm gestures are expected.

But in Japan, this might be interpreted as over-


dramatization or insincerity. When you travel abroad,
double-check what body language is appropriate.

30
 Communication: Business or small talk?
Most cultures have topics that are okay to talk about in the
boardroom but this also depends on the cultures involved. In
Spain and Ecuador, people want to know you before doing
business and in the United Kingdom (UK), light humor at work is
okay. However, in France, formality is a priority and many avoid
talking about personal matters in the office. So, wherever you go,
be aware of the norms and adapt to what locals are doing.

 Giving or Receiving Gifts: Accept or reject?

Everyone loves being given a gift. But in business settings,


handouts can be a controversial topic. In some cultures, gifts are
frowned upon and even considered bribes. In others, they're
appreciated and even encouraged. Before a business meeting
between partners in Japan, Indonesia, or the Philippines, the
gracious presentation of gifts is part of etiquette and local
tradition. On the flip side, if you accept a gift with your left hand
in the Middle East or Asia, you will offend the one giving it to you.

 Dress Code: Formal or relaxed?


In the United Kingdom, France, and New Zealand, offices are
governed by conservative dress codes. Here, suits are generally
considered appropriate. In the United Arab Emirates, foreigners
are expected to show modesty in their clothing, but no one
requires you to wear their traditional clothes.

Before you fumble your first meeting with an investor, make it a


point to learn about their culture. And to be even more culturally
aware, observe what locals are doing by searching for clues on
what's considered appropriate business etiquette.

31
UNIT 2
Five Steps for Effective Communications Planning

1. Understand Your Objectives: Be clear about your


overall communication objectives. What do you want
to achieve, when, and why? Record your overall
objectives in your plan.

2. Understand Your Audiences: Now identify and list


your different audiences. This can initially seem
quite difficult. So, for all but the simplest
communications plan, it's good to use Stakeholder
Analysis to identify whom to communicate with and
why.

3. Choose the Right Channels: Once you have clarified


your objectives and got a full understanding of the
different audiences that you need to communicate
with, it's time to choose the most appropriate
channels for delivering your message. Jot down all
the possible communication channels you could use.
Think broadly and creatively! You probably already
use lots of great community channels in your
company, but some new ones may help you to get
your message across. Here's a list to get you
started:

 Email.
 Instant Messaging.
 Virtual meetings.

32
 Notice boards.
 CEO briefing.
 Posters.
 Lunchtime meeting.
 Intranet article.
 Launch event.

4. Planning Your Message: Now you've decided which


channels to use, drill down into your communication
objectives and clarify specific objectives for each
audience. Start by thinking about the broadest audience
groups first.

5. Monitor Effectiveness: It's good to get feedback on the


communications that you have planned and implemented.
Ask people from different audiences how you are doing.
Check that they understand the messages you need them
to hear.
By getting timely feedback, you can tune any future
communications that you have planned to better meet
people's needs or fill any gaps that you've missed.

BUSINESS REPORT
Business reports are written documents that organize information
and communicate facts that serve some business purpose.
Although not typically the most entertaining reading, a good
business report is an in-depth yet simple radiation examination of
a specific issue or topic and can be useful in making sound
decisions.

33
Many businesses use these reports to reflect on past information,
in planning for the future, understand a situation, or offer
solutions to a problem. Regardless, a business report presents
data and brings clarity to what might otherwise be a complex
idea or issue.

As their purpose is to present facts and clarity, business reports


have a structure with clearly defined sections with labels and
headings. This uniformity makes it easier for readers to find the
information they’re looking for.

Business reports are always formal, objective, and heavily


researched. Every fact must be clear and verifiable, regardless
of whether the report focuses on a single situation or examines
the overall performance of an entire company.

Because objectivity is crucial in a business report, avoid


subjective descriptions that tell the reader how to feel.

Here are a few of the most common types of formal


business reports, designated by a purpose:

Justification/recommendation report

You can use this report to propose an idea to management. The


body would include sections like risks, costs, and benefits

Investigative report

This report can present the potential risks of a specific


opportunity. This report is helpful for business owners to
anticipate any issues involved in making an investment or
purchase.

Compliance report

34
Use this report when the organization wants to show
accountability and create a compliance report. It is a report that
allows an organization to prove that it is following regulations and
that it is spending money properly.

Feasibility report

When you need to analyze the outcomes of a proposed idea, you


can use this report. The report could cover potential problems,
associated costs, and the benefits of the idea. With this report,
you can determine if the proposal will be profitable if the deadline
is feasible and if there's a chance it could exceed the budget.

Research studies report

This report helps you analyze a problem. The report would


include recommendations to resolve the problems.

Periodic report

This report helps an organization improve its products, services,


processes, or policies. The report can include things like profit
and loss information or it may examine efficiency.

Yardstick report

You can use this report to present several solutions as options for
a particular situation.

STRUCTURE OF REPORT

Title Page

35
Every business report has a title page to tell the reader what
they’re about to read, whom it was written by, and when it was
written.

Executive Summary
The executive summary is the CliffNotes version of the entire
report and includes the topic, an overview of the data obtained,
and any recommendations based on the study. This shortened
version of the report is helpful for busy managers or executives
who may not have time to read the entire document, but want
the gist of the information.

Table of Contents
This section is vital for lengthier reports as it lists the sections
and any subheads and the page location of those sections and
subheads. Directing the reader to page numbers is very helpful
when looking for specific pieces of information.

Introduction
The introduction highlights the topics that the report will dig into.
It will state what data was collected and why, and the overall
purpose of the report.

Body
In the body of the report is the meaty part. The body text is
where the details go when it comes to the purpose of the report
and any data supplied. A report with a great deal of information
and multiple data sets will have subheads. Pictures should have
captions. Supporting data can be displayed in tables, charts, or
graphs which will all have titles, but they will all appear here in
the body section.

36
Conclusion
Very simply, the conclusion will summarize the body section of
the report.

Recommendations
If the findings of the report justify an argument, answer a
question, or require action, the recommendation section is the
place to disclose what to do next.

References
If using third-party sources or resources in the writing of the
report, they are to be listed here in the references. This section
tells the reader where they can find additional information if it is
needed.

Appendices
If there is additional documentation to be included with a report—
financial data, a glossary, or interview transcripts—it would be
relegated to the end of the document in the appendix.

Some companies may also require an executive summary after


the front matter section, which is a complete summary that
includes the report’s background, key findings, and
recommendations. This section lets people learn the highlights
quickly without having to read the entire document. The size of
an executive summary can range from a paragraph to multiple
pages, depending on the length of the report.

An effective report can be written by going through


the following steps-
1. Determine the objective of the report, i.e., identify the
problem.
2. Collect the required material (facts) for the report.

37
3. Study and examine the facts gathered.
4. Plan the facts for the report.
5. Prepare an outline for the report, i.e., draft the report.
6. Edit the drafted report.
7. Distribute the draft report to the advisory team and ask
for feedback and recommendations.
The essentials of good/effective report writing are
as follows-

1. Know your objective, i.e., be focused.


2. Analyze the niche audience, i.e., make an analysis of the
target audience, the purpose for which the audience
requires the report, the kind of data the audience is
looking for in the report, the implications of report
reading, etc.
3. Decide the length of the report.
4. Disclose correct and true information in a report.
5. Discuss all sides of the problem reasonably and
impartially. Include all relevant facts in a report.
6. Concentrate on the report structure and matter. Pre-
decide the report writing style. Use the vivid structure of
sentences.
7. The report should be neatly presented and should be
carefully documented.
8. Highlight and recap the main message in a report.
9. Encourage feedback on the report from the critics. The
feedback, if negative, might be useful if properly
supported with reasons by the critics. The report can be
modified based on such feedback.
10. Use graphs, pie charts, etc to show the numerical data
records over years.
11. Decide on the margins of a report. Ideally, the top and
the side margins should be the same (minimum 1 inch
broad), but the lower/bottom margins can be one and a
half times as broad as others.

38
12. Attempt to generate the reader’s interest by making
appropriate paragraphs, giving bold headings for each
paragraph, using bullets wherever required,

PROPOSAL WRITING

Proposal writing is a document that outlines a plan of action,


request for funding, or proposal of an idea. Proposal writing can
be used in various settings, including business, academia, and
government. In each case, the goal is to present a clear and
concise plan to convince the reader to approve the proposal.

It offers comprehensive information about the project an


organization wants to implement. It outlines the process and
resources required to complete the project successfully. It also
includes the objectives and goals of the project.

Types of Proposal Writing


 Business Proposal

A business proposal is also referred to as a sales proposal.


Companies offer this type of proposal to their potential clients
when they want to win a project or contract. It outlines the
company’s capabilities, experience, and resources. It also
includes information about the proposed project, including the
scope, timeline, and cost.

39
 Solicited Proposals
These proposals are written in response to an RFP (request for
proposal) or a verbal request. A customer asks for proposals
from various vendors with specific requirements. The vendor
then responds to the RFP with a proposal outlining how it will
meet the organization’s needs.

 Unsolicited Proposals
An unsolicited proposal is a proposal that the customer does not request.
It is a marketing tool used to generate new business opportunities. The
proposal outlines how the vendor’s product or service can solve the
problem.

 Grant Proposals

Nonprofit organizations write a grant proposal to secure a grant. A grant is


a sum of money given by an organization to another organization for a
specific purpose. Grant proposals must be well-written and convincingly
demonstrate how the nonprofit will use the grant money to achieve its
objectives.

 Investment Proposal

An investment proposal is a business document to convince potential


investors to invest in your company or project. It includes information
about its products, services, and business goals. It also outlines the
company’s financial needs and how the investment will be used.

40
 Internal Project Proposal

Proposals are not only written by organizations to win business from


external customers but also internally within the organization. Internal
project proposals are written within businesses when one department
wants to start a new project or initiative.

 Research Proposal

A research proposal is a document written by researchers to request


sponsorship for a research project. It includes information about the
research project, the researcher’s objectives and methodology, and the
expected outcomes. It also outlines the budget and timeline for the
project.

Steps to Write a Proposal?


 Identify Your Readers

Before you start writing, you need to know your target audience. It will
help you determine what information to include in the proposal and how to
present it. It is also necessary to tailor the proposal to the reader’s specific
needs.

 State Executive Summary

As you start writing a proposal, you need to introduce your company or


yourself. The executive summary is a brief introduction to your company.
The introduction should be to the point. It should also include the products
or services you offer or the research you conduct. It should also describe
how your organization will offer the client’s needs.

41
 Mention The Purpose of the Proposal

After the brief introduction, you need to state the purpose of your
proposal. It allows the reader to understand the objective of your proposal
and what you hope to achieve. The purpose can be to win a contract, get
funding for a project, or simply offer your services.

 Explain The Solution

After you have stated the problem, you need to offer a solution. The
solution must be feasible, and it should address the reader’s needs. It
should also be cost-effective and efficient. Include the details of your
proposed solution in this section.

 Introduce The Authority

Introducing your company’s authority is vital as it enables the clients to


learn about the decision-makers. You can add the introduction and brief
biographies of the team members in this section. Include a brief
description of the experience of the key members of your organization.

 Discuss The Budget

After you have explained the solution, you need to discuss the budget. The
budget should be realistic and cover all the expenses associated with the
project. Include why you need the funds and how you will use them. Also,
explain the return on investment for the client.

 Add a Request for Proposal Approval

You don’t need to add a separate section for it. You can add a few lines at
the end of your proposal requesting approval of the proposal. It shows

42
your humbleness and respect for the client. It will also help the reader to
understand that you are serious about the project and ready to start work.

 Include an Appendix

This section comprises supporting information about the project. You can
add information related to the material and resources used in the project.
It helps the reader to understand the proposal in a better way

Best Practices to Write a Proposal


 Pay Attention to The Recommended Format

Most organizations and clients offer to include the required format in the
RFP. Make sure you follow the recommended format while writing a
proposal. Go through the RFP and look for the required documents. You
need to include all the required documents in your proposal. Not including
all the required documents can lead to the rejection of your proposal.

 Leverage Visual Content

Visual content is more attractive and engaging than plain text. It helps the
reader to understand the proposal quickly and easily. Visuals make your
content engaging and enable the readers to understand complex concepts
easily. You can use charts, graphs, and infographics to present data in a
visually appealing way. Also, use pictures and videos to add more context
to your proposal.

 Keep It Simple

Use simple and meaningful sentences. Also, keep the sentences and
paragraphs short and clear to make the content easy to read. The reader

43
should be able to grasp your proposal’s main ideas without difficulty. Don’t
use jargon or technical terms in your proposal. Jargon can make the
proposal difficult to understand. Also, use an active voice to make your
sentences clear and concise.

 Avoid Exaggeration

Exaggeration can make your proposal look unrealistic. It can also damage
your credibility as a proposal writer. Stick to the facts and figures while
writing a proposal. Also, don’t add ambiguous sentences. It will only create
confusion and make your proposal difficult to understand.

 Edit and Proofread

Make sure you edit and proofread your proposal before sending it to the
client. Editing helps you to remove any errors from the content.
Proofreading enables you to identify any grammar or spelling mistakes in
the text.

 Include Quantitative Data and Statistics

Quantitative data and statistics help the reader to understand your


proposal easily. It also strengthens your argument by providing concrete
evidence. Make sure you use reliable and up-to-date data in your proposal.
Also, cite the sources of the data to add more credibility to your argument.

 Digitize Your Proposal

Digitizing your proposal can make your proposal more accessible to share.
Also, you can track when and how often your proposal is viewed and
downloaded. You can use online services to create digital proposals. There

44
are many tools available that allow you to create interactive and visually
appealing proposals. You can also add a password to secure your proposal.

 Add a Call-to-Action (CTA)

A call to action is an essential element of a proposal. It helps the reader to


understand what you want from them. You can add a call to action at the
end of your proposal or in a separate section. Adding a compelling CTA will
encourage the reader to take the desired action. You can use phrases like
“Contact Us,” “Call us,” or “Visit our Website” to encourage the reader to
take action.

Why is Proposal Writing Important?


Proposal writing is significant because it can help companies in numerous
ways. Let’s take a look at some of the reasons why proposal writing is
important:

Creation of Realistic Plans

Proposal writing can help companies to develop realistic plans. The process
of writing a proposal requires proper research and analysis. It can help
organizations understand market trends and develop strategies
accordingly.

Proves The Credibility of an Organization

A well-written proposal can help organizations to prove their credibility. It


shows that the company can handle the project and has the required
expertise. It can help organizations to win more clients and projects.

45
Securing Funding

Proposal writing is also vital for securing funding. Organizations need to


write proposals to get funding from investors. An effective investment
proposal can convince investors to invest in a company. It can also show
investors that the company has a sound plan and can generate good
returns.

Identification of Strengths and Weaknesses

Proposal writing can help companies to identify their strengths and


weaknesses. Organizations need to conduct detailed research to write a
proposal. It enables them to think objectively about their business and find
areas that need improvement.

Offers Direction to Business

Proposal writing can help companies to define their objectives.


Organizations need to be clear about their goals before writing a proposal.
It helps them monitor their performance and track their progress. It also
enables them to make adjustments to their plans if required.

What Is a Business Plan?


A business plan is a document that defines in detail a company's
objectives and how it plans to achieve its goals. A business plan
lays out a written road map for the firm from marketing, financial,
and operational standpoints. Both startups and established
companies use business plans.

A business plan is an important document aimed at a company's


external and internal audiences. For instance, a business plan is
used to attract investment before a company has established a
proven track record. It can also help to secure lending from
financial institutions.
46
Furthermore, a business plan can serve to keep a company's
executive team on the same page about strategic action items and
on target for meeting established goals.

Elements of a Business Plan


The length of a business plan varies greatly from business to
business. Consider fitting the basic information into a 15- to the 25-
page document.

 Executive summary: This section outlines the company and


includes the mission statement along with any information
about the company's leadership, employees, operations, and
location.
 Products and services: Here, the company can outline the
products and services it will offer, and may also include
pricing, product lifespan, and benefits to the consumer. Other
factors that may go into this section include production and
manufacturing processes, any patents the company may have,
as well as proprietary technology. Information about research
and development (R&D) can also be included here.
 Market analysis: A firm needs a good handle on its industry
as well as its target market. This section of the plan will detail
a company's competition and how the company fits in the
industry, along with its relative strengths and weaknesses. It
will also describe the expected consumer demand for a
company's products or services and how easy or difficult it
may be to grab market share from incumbents.
 Marketing strategy: This section describes how the
company will attract and keep its customer base and how it
intends to reach the consumer. A clear distribution channel
must be outlined. The section also spells out advertising and
marketing campaign plans and the types of media those
campaigns will use.
 Financial planning: This section should include a
company's financial planning and projections. Financial
statements, balance sheets, and other financial information
may be included for established businesses. New businesses

47
will include targets and estimates for the first few years plus a
description of potential investors.
 Budget: Every company needs to have a budget in place.
This section should include costs related to staffing,
development, manufacturing, marketing, and any other
expenses related to the business.

How to Write a Business Plan

1. Write an executive summary


This is the first page of your business plan. Think of it as your
elevator pitch. It should include a mission statement, a brief
description of the products or services offered, and a broad
summary of your financial growth plans.
Though the executive summary is the first thing your investors will
read, it can be easier to write it last. That way, you can highlight
the information you’ve identified while writing other sections that go
into more detail.

2. Describe your company


Next up is your company description, which should contain
information like:
 Your business’s registered name.
 Address of your business location.
 Names of key people in the business. Make sure to highlight
unique skills or technical expertise among members of your
team.
Your company description should also define your business structure
— such as a sole proprietorship, partnership, or corporation — and
include the percent ownership that each owner has and the extent
of each owner’s involvement in the company.
Lastly, it should cover the history of your company and the nature
of your business now. This prepares the reader to learn about your
goals in the next section.

48
3. State your business goals
The third part of a business plan is an objective statement. This
section spells out exactly what you’d like to accomplish, both in the
near term and over the long term.
If you’re looking for a business loan or outside investment, you can
use this section to explain why you have a clear need for the funds,
how the financing will help your business grow, and how you plan to
achieve your growth targets. The key is to provide a clear
explanation of the opportunity presented and how the loan or
investment will grow your company.
For example, if your business is launching a second product line,
you might explain how the loan will help your company launch the
new product and how much you think sales will increase over the
next three years as a result.

4. Describe your products and services


In this section, go into detail about the products or services you
offer or plan to offer.
You should include the following:
 An explanation of how your product or service works.
 The pricing model for your product or service.
 The typical customers you serve.
 Your supply chain and order fulfillment strategy.
 Your sales strategy.
 Your distribution strategy.

5. Do your market research


Lenders and investors will want to know what sets your product
apart from your competition. In your market analysis section,
explain who your competitors are. Discuss what they do well, and
point out what you can do better. If you’re serving a different or
underserved market, explain that.

6. Outline your marketing and sales plan


Here, you can address how you plan to persuade customers to buy
your products or services, or how you will develop customer loyalty
that will lead to repeat business.

49
7. Perform a business financial analysis
If you’re a startup, you may not have much information on your
business financials yet. However, if you’re an existing business,
you’ll want to include income or profit-and-loss statements, a
balance sheet that lists your assets and debts, and a cash flow
statement that shows how cash comes into and goes out of the
company.
You may also include metrics such as:
 Net profit margin: the percentage of revenue you keep as
net income.
 Current ratio: the measurement of your liquidity and ability
to repay debts.
 Accounts receivable turnover ratio: a measurement of how
frequently you collect on receivables per year.

8. Make financial projections


This is a critical part of your business plan if you’re seeking
financing or investors. It outlines how your business will generate
enough profit to repay the loan or how you will earn a decent return
for investors.
Here, you’ll provide your business’s monthly or quarterly sales,
expenses, and profit estimates over at least three years — with the
future numbers assuming you’ve obtained a new loan.

9. Add additional information to an appendix


List any supporting information or additional materials that you
couldn’t fit in elsewhere, such as resumes of key employees,
licenses, equipment leases, permits, patents, receipts, bank
statements, contracts, and personal and business credit history. If
the appendix is long, you may want to consider adding a table of
contents at the beginning of this section.

How to improve your writing skills


Writing is a technical skill that allows you to communicate effectively
through the written word. Though these may vary depending on

50
what you’re writing, there are several that transcend categories.
Writing skills can more specifically include:
 Grammar
 Vocabulary
 Spelling
 Sentence construction
 Structure
 Research and accuracy
 Clarity
 Persuasiveness

1. Review grammar and spelling basics:


Grammar and spelling form the foundation of good
writing. Writing with proper grammar and spelling
communicates your professionality and attention to detail
to your reader. It also makes your writing easier to
understand. Plus, knowing when and how to use less-
common punctuation, like colons, semicolons, and em-
dashes can unlock new ways to structure sentences and
elevate your writing.
2.Read what you want to write: Knowing what a
finished piece of writing can look like can guide your own.
If you’re trying to write a humorous short story, read
humorous short stories. Writing a book review? Find a few
and take note of how they’re structured. Pay attention to
what makes them good and what you want to emulate
(without plagiarizing, of course). If you’re working on a
school assignment, you can ask your instructor for
examples of successful pieces from past students. Make
reading a part of your everyday life to improve your
writing. Try reading the news in the morning or picking up
a book before you head to bed.
3.Proofread: While it’s tempting to submit work as soon
as you’re done with it, build in some time to revisit what
you’ve written to catch errors big and small. Here are a
few proofreading tips to keep in mind:
51
Set your work aside before you edit

Start with easy fixes, then progress to bigger changes

If you could say something in fewer words, do so

Read out loud

4.Get feedback: Whether you’re writing emails or


essays, asking for feedback is a great way to see how
somebody besides yourself will interpret your text. Have
an idea of what you’d like your proofreader to focus on—
the structure, conclusion, persuasiveness of an argument,
or otherwise. Approach a trusted friend, family member,
coworker, or instructor. If you’re a student, your school
might also have a writing resource center you can reach
out to.
5.Think about structure: Grammar and spelling keep
your writing consistent and legible, but structure ensures
the big ideas get across to the reader. In many cases,
forming an outline will help solidify the structure. An
outline can clarify what you’re hoping to convey in each
section, enable you to visualize the flow of your piece, and
surface parts that require more research or thought.
6.Write: Like many skills, one of the best ways to improve
your writing is to practice. Here are a few ways you can
get started:

Start a journal or a blog.

Join a class or writing workshop.

Practice free writing.

Write letters to friends or family.

7.Know some common fixes: Even if a text is


grammatically correct, you may be able to make it more

52
dynamic and interesting with some polish. Here are some
common ways you can sharpen your writing:

 Choose strong verbs (for example, “sprinted,” “dashed,” or


“bolted” instead of “ran”).
 Avoid passive voice.
 Vary sentence length.
 Cut unnecessary words.
 Replace cliches with original phrasing.

What Is a Resume?
A resume is a formal document that a job applicant creates to
itemize their qualifications for a position. A resume is usually
accompanied by a customized cover letter in which the applicant
expresses an interest in a specific job or company and draws
attention to the most relevant specifics on the resume.

Importance of a resume

Your resume is the most important document you’ll submit in your job
search. It’s your frontline fighter, so to speak, as it’s your first opportunity to
present yourself to a potential employer. Hiring managers and recruiters
look at resumes for an average of only six to seven seconds each, so it’s
important that you make every second count. A strong resume can help you
stand out from the crowd, but a weak resume can remove you from the
running.

resume writing tips

Keep your resume short and direct.

The No. 1 rule of writing a resume is to keep it short and to the point. The
general rule is no more than one page unless you have a very good reason
for it to be longer, like an extensive career or a lot of highly applicable work
experience. An easy way to keep your resume concise is to include only
recent, relevant experience. While that yearlong first job might have taught
you a lot about the field, it’s not always necessary to include every detail
from your entire career history.

53
Create an original resume template.

Format your resume so that it is easy to identify your qualifications. For


instance, Bissot recommended, if you advanced in a company quickly, draw
attention to that growth. If you excessively job-hopped, bullet those jobs
without providing specifics and detail more applicable positions. This will play
to your assets. When structuring your resume, make sure the information is
presented in a logical order.

Highlight relevant skills and experiences.

Using the same resume for every job you apply for is not a good approach.
Instead, your resume should target the specific job you are applying for. Be
sure to prioritize the skills, qualifications, and experiences that are directly
applicable to the job you are trying to land. Choose three or four former
positions or experiences that best highlight the skills required for the
position for which you apply. Employers value brevity; this is not the time to
list every position you have ever held.

Demonstrate results with numbers and metrics.

When you write about your previous work experience, it is always a good
idea to quantify your successes with numbers. Using metrics can highlight
your achievements and give the hiring manager or recruiter a clear sense of
how you impacted your previous place of employment.

Craft a career snapshot.

More recently, career experts have urged job seekers to do away with the
old “objective” statement and instead consider including a summary, called a
“career snapshot,” at the top of their resume. With the career snapshot, you
present a branding statement that briefly explains your unique value as well
as your skills and qualifications.

Optimize your text.

If a company uses an applicant tracking system (ATS) to collect and scan


resumes, a human hiring manager may never even glance at any application
that doesn’t fit the job criteria they’ve entered. Adapting your resume to the
position to increase your likelihood of passing the first level.

54
Think beyond your job duties.

Hiring managers don’t want to read a list of your job duties. They want
concrete examples of your accomplishments in previous positions that show
how you can make a difference in this new position. When deciding what
information to keep or cut out of your resume, focus on striking abstract
traits and qualifications in favor of concrete, quantifiable results.

Use the right language to stand out.

Trite, lackluster descriptions of your job duties and accomplishments won’t


do you any favors. Make sure you’re using strong action words, such as
“achieved,” “designed,” “improved” and “established,” to describe your roles
and projects. This will make you sound confident while imparting vital
information. But be cautious about depending on action verbs – make sure
to include details about how you improved a process or achieved a goal.

Check for errors.

Triple-check your work, and then have someone else look over your resume
to ensure it’s 100% clean. There is no room for sloppiness on your resume.

 Spelling, grammar, and punctuation


 Formatting
 Headings

What Is a Cover Letter?


A cover letter is a written document commonly submitted with a job
application outlining the applicant's credentials and interest in the
open position. Since a cover letter is often one of only two
documents sent to a potential employer, a well- or poorly-written
letter can impact whether the applicant is called for an interview.

Types of Cover Letters


1. An application cover letter is the most familiar type of cover
letter. This is generally written in response to a vacancy that
is posted on a company's website or a job board.
2. A referral cover letter is similar to an application letter, but it
includes the name of a colleague or employee who
recommended the applicant for the open position.

55
3. A prospecting cover letter,
also known as a letter of interest, is
written by a job seeker and addressed to a company where
they would like to work. However, it is not aimed at a specific
role or vacancy. Instead, this type of letter inquires about
open positions in general and may highlight any special skills
that make the writer suitable for the company.

Tips for Writing a Cover Letter


Writing a cover letter doesn't have to be tedious—even though it
may seem like it's a chore. Here are a few simple tips you may
want to consider when composing your cover letter:

 Never use a generic cover


Personalize your letter for each role.
letter. This means you have to write a new one for each
position. Be sure to include your strengths and skills, and
explain why you’re the perfect candidate.
 Include contact information. If the posting doesn't include the
hiring manager's name, call the company, or check its
website. Including this person's name gives your letter a
proper greeting and also shows you have initiative. And don't
forget to add your contact information, too. This is important
if your resume gets separated from your cover letter.
 Simplify your letter. Communicate clearly and concisely. Using
complex words and sentences would most certainly fail to
convey your intentions with the company and the person
reading the letter probably won't bother with the rest of your
application.
 Be specific when needed. Don't rehash your resume, so be sure
to quantify your accomplishments. For instance, expand on
your marketing experience in your cover letter by saying you
brought in 200 additional clients each month and increased
revenue to $10,000. This can set you apart from candidates
with vague personal details.
 Proofread. After you’ve written the letter, go over it a few
times to ensure there are no errors. Then ask someone else to
do a once-over and recommend any changes you may need to
make.
 Names matter. This includes the name of the hiring manager,
the company, and yes, even yours. Make sure you have the
56
right names and the correct spelling. And don't forget to
change the names if you're using the same cover letter for
multiple jobs.
 Restating your resume. Since the cover letter is used to identify
your skills and explain how your previous experience applies
to the desired position, don't restate the stuff on your resume.
Remember, the cover letter should complement your resume,
not just summarize it.
 Keep your letter tight. Recruiters often go through hundreds of
applications and don't have time to read through a three-page
missive. The absolute maximum length for a cover letter
should be one page, with a few concise paragraphs.
 Omit unnecessary details. Stay on topic. There's no need to
mention your graphic design skills if you're applying for an
accounting position. It's a good idea to leave out personal
things like your IQ, recreational accomplishments, interests,
and hobbies. That is unless they relate to the job or company.
 Avoid sounding arrogant. Ensure your cover letter does not
make you appear arrogant. While the cover letter is about you
and your accomplishments, find a way of saying "I'm the best"
without actually saying it. Avoid overusing words like "I,"
"me," or "my."
 Remember that spelling counts. Typos and grammatical errors
can show you didn't bother to proofread your letter. And make
sure to be consistent—don't convey a dash with "--" in one
place and "—" in another.
 Design matters: with the proliferation of publishing, design
trends, and software, candidates have become creative in
making their cover letter stand out from a design perspective.
Make sure your cover letter projects your personality in terms
of design while remaining professional. That is personal
signature and branding.

Group Discussion

GD is a type of discussion that involves people sharing ideas or activities.


People in the group discussion are connected with one basic idea. Based on
that idea, everyone in the group represents his/her perspective.

57
GD is a discussion that tests the candidate's skills, such as leadership
skills, communication skills, social skills and behavior, politeness,
teamwork, listening ability, General awareness, confidence,
problem-solving skills, etc.

GD Process
Participants
The participants can range from 7 to 12 in a group. The number of
candidates in a Group Discussion depends on the available strength. If the
strength is low, the number of participants can range from 5 to 7.

Duration of a GD
The average duration of a Group Discussion is 15 minutes. But, it may vary
depending on the number of candidates in a group. Sometimes, the panelist
or judges can extend the discussion for more than 15 minutes. They can also
end the discussion in between. The participants should not consider any
assumption that the GD will be conducted only for 15 minutes.

Process

1. The process of a Group Discussion starts with the announcement of


the topic. The given topic could be technical, factual, or case study.
2. Before beginning with the discussion, a preparation time of 3
minutes is given. The time can also extend in case of a long case
statement.
3. Any participant in the group can initiate the discussion. After the
lead participant, anyone in the group can continue the discussion.
Similarly, everyone gets the chance to speak. One after another,
participants in the group express their views on the given topic.
4. It ends when the panelist stops the discussion or may ask one or more
than one participants to summarize the GD. Whenever you are asked
for a summary, remember to cover the discussed points. The summary
cannot include words that were not part of the discussion. The
participants that were quiet during the discussion are generally asked
to summarize it, which is a good opportunity to present their views.

58
But, it does not mean that everyone should be quiet. The summary
should include the essential discussed points and the conclusion of the
discussion.
5. The final scores are calculated. Based on the performance of each
participant, the panelist gives the scores. The panelists are usually
four to five to judge the performance of candidates in the Group
Discussion.

Types of Group Discussion


There are two types of Group Discussion, which are listed below:

o Topic-Based Group Discussion


o Case Study Based Group Discussion

Topic-Based Group Discussion

1. Controversial Topics
2. Knowledge-Based topics
3. Abstract Topics
4. Conceptual topics

Rules of Group Discussion


o Prepare well for the topic.
The quick trick is to note all the important points during the
preparation time. Do not write brief paragraphs. Try to write short
points and explain them briefly in the discussion.
o Be confident about your content
It would help if you always were confident about your content. If you
are not confident, you may hesitate while speaking, which will create a
negative impression.
o Participants Introduction
Most participants only focus on their content. You should be aware
during the introduction of all the participants in your group. To get

59
attention, you can call out the person's name when the discussion gets
diverted.
o Body Language
Always take care of your body language. Do not focus only on the
content.
o Leadership
Try to take the lead in the group if you are confident about the topic
and the knowledge.
o Avoid false starts or commitments
Do not initiate the discussion if you are not sure about your content.
Do not present any wrong information.
o Follow your Domain
Every company has its own culture. Prepare your content according to
the company’s requirements. For example, industrial companies will
focus more on technical talks, while marketing companies seek a
combination of creative and oriented content.
o Do not fight
In the Group Discussion, some candidates often get aggressive. Do not
fight during the discussion. Most companies require sensitive and
polite candidates rather than aggressive ones.

Interview

The interview is an important selection technique where


there is a two-way exchange of information either on a one-
to-one basis or by an interview panel. The interview gets
important information from the candidates and can also
judge whether or not they can fit into the organization’s
culture.

The interview is a two-way conversation. It is a personal


form of communication between two people. It is a beneficial
process for both the interviewer and the interviewee. The
60
interviewer tells the applicant about the job preview and
helps the interviewee make up his mind about whether or not
he wants to take that job. Though conducting interviews is
not based on fixed rules, certain guidelines for the
interviewer and interviewee can make the interview an
effective process.

Interviews can be of the following types:


1. Exit Interview: An exit interview is one of the most
widely used methods of getting employee feedback. An exit
interview is a meeting between at least one representative
from the company’s human resources (HR) department and
the departing employee. An exit interview is a survey
conducted with an employee when he leaves the company.
The information from each survey is used to provide
feedback on why employees are leaving, what they liked
about their employment, and what areas of the company
need improvement. Exit interviews are effective when the
data is compiled and tracked over time.

2. Stress Interview: The stress interview creates and


promotes discomfort intentionally. The interviewer may adopt
a harsh attitude. He may stare, be silent, and spend time
taking notes. He puts the interviewee in a position where he
can observe how he acts and speaks under pressure. He
looks especially at his reaction to stressful situations.

3. Appraisal Interview: Once a year, all employees of the


company have to undergo an appraisal interview with their
line manager. This interview evaluates the interviewee’s
performance over the past year, and captured and reviews
the tasks and objectives for the next year. The appraisal
interview is used as a tool by the managers of the personnel
department for planning training programs.

61
4. Promotion Interview: This interview is faced by a
person when he is due for promotion. This interview is
conducted to test his aptitude for assuming a job of higher
importance, even if a person is the only candidate to appear
for the interview. If there is more than one candidate for the
promotion interview, management can select the best
candidate based on the selected criteria. A promotion
interview is linked to the growth of the person and the
organization he is working for.

Forms of Interview:
There are generally three forms of interview:

 Structured interview:

The interviewer prepares a set of purely job-related


questions asked in the same sequence. The structured
interview does not give flexibility to the interviewer to ask
questions about the candidate’s personality.

Some of these questions are:


(1) Where were you working last?

(2) Why do you want to change your job?

(3) What are your expectations from this job?

 Semi-structured interview:
In a semi-structured interview, the interviewer asks
structured, pre-determined questions along with questions
about the candidate’s personality, strengths, and
weaknesses, his experience at other jobs, etc. This interview
is more conversational and interesting and gets a better
response about the candidate’s personality than a structured
interview.

62
 Unstructured interview:
An unstructured interview is not planned or based on a
systematic, predetermined list of questions. It is a
spontaneous interaction between the interviewer and
interviewee. The information that the interviewer collects
about the candidate may not be relevant or truly job-related
which can assess the candidate’s suitability for the particular
job. It may contain an element of bias or subjectivity on the
part of the interviewer to select a candidate.

The following suggestions ensure success in an


interview:
1. The interviewee should research as much as he can about
the company’s products, services, markets, competitors,
trends, current activities, and priorities.

2. He should prepare answers for the type of questions he


will be asked. He should be able to say why he wants the job,
what are his strengths, how would he do the job, what are
his best achievements, etc.

3. He should ask for a copy of the company’s employment


terms and conditions or employee handbook before the
interview, to save time covering routine matters during the
interview.

4. He should collect evidence of his achievements in the past.

5. He should update his resume.

6. He should gather important material related to the


company to be prepared for the interview, like the sales
brochures and literature, a trade magazine covering the
company’s market sector, and a newspaper for the few days
before the interview to remain informed about the world and
national news.

63
7. He should review his personal goals and speak openly and
honestly about them and how he plans to achieve them.

8. He should have two or three good reputable and relevant


references who would be happy to be contacted.

9. He should adopt an enthusiastic, alert and positive


mindset in the interview.

10. He should positively deal with negative aspects of his


profile and tell the truth rather than evading or distorting
facts.

What is an exit interview?


An exit interview is a survey of employees who are leaving a company.
Employers conduct these interviews to learn about why an employee is
leaving and what their thoughts are on the organization. Exit surveys can be
in-person, over the phone, on paper, or online, and they are often the task
of a company's human resources department. They are great opportunities
for employers to gain employee feedback on areas like:

 Job duties
 Training methods
 Management styles
 Workflow
 Work culture
 Team-building activities
 Company policies
 Company mission

Why do companies conduct exit interviews?

Companies conduct exit interviews primarily to determine the reasons


behind employee turnover, and the rate at which employees leave a
company. If an employee is leaving because of issues they have with the
company, it is helpful for an employer to know this so they can make
improvements. They can track trends in employee satisfaction over time.

64
Because it takes time, effort, and money to hire, train and pay employees, a
high employee retention rate is important for employers. The longer an
employee stays at a company, the better return on investment a company
can get. For this reason, it is in the best interest of employers to make their
company a place where employees want to work and continue working in the
future.

65
66
67

You might also like