Unit 4 Business Communication Sources of information Internal

Unit 4 Business Communication

Sources of information Internal � Financial � Human Resources � Marketing � Purchasing � Sales � Operations � Administration � Customer Service External � Government � Trade Groups � Commercially provided (businesses such as MINTEL or Which? Who carry out market research) � Research

Types of information � Verbal � Written ◦ Onscreen ◦ Multimedia ◦ Web based

Verbal Information � this method of communication can range for people talking to each other to a telephone conversation � Face to Face: this method of information is good as there is less scope for misunderstanding. � Verbal communication is instant and people often find this an easy method of communicating

Written Information � This can be used in a variety of methods ranging from application forms to charts and presentations. Numerical information such as profit and loss accounts come under written information too. � Written information can include; newspapers, books and government publications

Written Information � On Screen information can range from television to graphics, text and animation. � Multi media Information means a range of media integrated with each other. Multi media can include web pages to audio files. Multi media is often used to describe DVDs and CDs � Web Based information is beneficial due to the speed of broadband, it is possible to view web based information almost anywhere in the world. Web based information is convenient as it allows people to view it when it is suitable for them.

Purpose of Information � Updating Knowledge � Informing future developments � Strategic Direction � SWOT analysis � Offering competitive insight � Communicating sales promotion � Inviting support for activities

Updating Knowledge � This can be used internally to update new staff or existing staff about changes to the business in terms of policies, organisational structures. � This can also be used externally to enable the business to understand how the market is developing, what the economy is doing, PESTLE factors.

Informing Future Developments � Workforce Planning- deciding how many new staff the business requires based upon the future developments � Keeping ahead of the competition- a business needs to understand know what developments are likely to be made to enable it to develop new products and to stay ahead of its competitors.

Strategic Direction � Strategic direction allows a business to understand decide on its purpose, objectives and long and short term strategies. � Information can help a business to understand an appropriate direction to head towards and enable a business to plan a timescale and any resources it requires. A business needs information from both internal and external sources to effectively plan.

SWOT analysis � This method of analysis is used to identify strengths, weaknesses, opportunities and threats. A SWOT allows a business to look at both internal and external influences and can inform a business as to what action they should take.

Offering Competitive Insight � Businesses need to know what their competitors are doing to ensure they keep up with competition and try to stay ahead. � Competitors activity can be analysed to inform a business of their marketing mix and to how to sell more effectively

Communicating Sales Promotion � Businesses need to communicate their sales promotion to their customers, they can do this in a variety of ways. Information received can help a business to determine buying patterns and can help a business to promotes their goods or services more effectively

Inviting Support for Activities � Information is needed to support its activities, this could be external, from another company or internally from a variety of functions within the business.

Reliability of Data Sources � It is essential that businesses ensure they understand how reliable, accurate and truthful the data they have received is. � Businesses not biased. should always ensure the data is

Assignment 1 � This assignment looks at different types of information. � You need to choose a business that you know very well or have access to.

D 1 � � Evaluate the appropriateness of at least two pieces of information used to make important strategic decisions. You could investigate the marketing decisions and decide if the decisions were appropriate. Look at the methods of information you have chosen, evaluate why the methods have been used. Include advantages and disadvantages and whether you think the method is appropriate You need to make a conclusion as to whether your chosen business uses appropriate information for important strategic decisions. Your evaluation must be based on at least two sets of information. You must justify your comments by looking at the alternative information and sources that could be used by the business and comparing the advantages and disadvantages of the alternative methods to the methods chosen.