Wednesday, 13 July 2011

Importance or Significance of Communication in Modern Business

Communication is one of the most important facilitators of modern business. In its broadest sense, the importance of modern business is to effect change, to influence, action toward the welfare of the organization. It is essential in business, govt., military organizations, hospitals, schools, committees’ homes; anywhere people deal with one another. The importance of communication in modern business may be stated follows:

* Basis of effective leadership: Communication transmits the leader’s idea and opinions to the followers. Think  about political leaders who lead and guide the people for the betterment of the society or to fulfill any specific purpose.
* Basis for the movement of ideas and information: It helps to move ideas and information from one person to another person. It can develop a chain of understanding through two-way communication. If there exists no communication media, technique or process then there would be no sharing of any idea or information.
    * Provision for data for decision making: it helps the manager to obtain data for decision making, to assist in searching problem, and to know what action are needed. Therefore, communication acts like a storehouse where data, idea or information are available to deal with.
      * Smooth and efficient functioning: It helps in all managerial function, such as planning, organizing, directing, motivating and controlling. It server as a fuel to managerial operation and function. Therefore, it makes a chain between past, present and future and helps for effective performance.
        * Delegation of authority and responsibility: It helps in decentralization of authority and delegation of responsibility to right person. Through downward communication, superior delegates authority and responsibility to the subordinates. Proper assignment of job and division labor calls for better output.
          * Increase in managerial competence: It helps to improve managerial competence and efficiency. Manager use various techniques or tools to command or control over resources. Continues tracking is possible in terms of communication.

          * Minimization of cost and time: Efficient communication attempts to minimize time and cost in case of exchange of information. If any message is required to be communicated to thousands of people then we have to think about Newspaper, Television, or Radio which are strong media for communicating any message around the globe.

          * Basis information: It acts as a basis of information to each department and helps the employees to perform their respective jobs. So, any action to be taken requires a basisand communication between organization or within organization provides such basis.

          * Fulfillment of Organizational objectives: It fulfills the organizational objectives by co-operation and co-ordination among the managerial and working staffs.

          * Efficient Human Resources Management: Human resources are recruited, trained and motivated through effective communication. Recruitment involves circular by the organization towards general people. Then interested candidates apply and on the basis of their merit, they are recruited by the respective organization and transformation according to their skillness. The whole activities involve verbal or non-verbal communication.

          * Creation of Employee motivation and moral: Managers provide incentives to motivate their subordinates and maintain strong invisible chain. Motivation is based on situation and therefore what should be the way of motivation required judgement by the superior. The perfect motivation towards right person involves effective communication.

          * Establishment of public Relation: The management can create cordial relations with govt. customers, creditors, shareholders, regulatory bodies, trade unions and the society as a whole. It ensures sound relation

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