Managing Communications Knowledge& Information - Classic Badges Company - Case Study Example

MANAGING COMMUNICATIONS KNOWLEDGE& INFORMATION: CASE ANALYSIS by Student’s Name Code + Course Name Professor’s Name University Cite, State Date Task 1 Question 1.1: The major decisions that the organisation should embark on include; first, it would need to find the sources of funds that are needed in starting up operations. There are different sources of funds that the company can seek like bank borrowings, grants or even seek capital ventures. Second, the company should have to make decisions in regards to the perfect location for establishing the organisation as a whole (Jacobs, 2008). A perfect location would determine whether the business would succeed or not given that it helps to attract potential customers. Third, the company should have to make sure that they have access to the most affordable suppliers of materials needed in providing the necessary materials for making badges. Fourth, decisions pertaining to the price ranges for customised badges should be set in regards to the ability and willingness of the potential customers (Jacobs, 2008). Question 1.2: The company is expected to acquire knowledge pertaining to the strengths and weaknesses of the business as well as the needs of the immediate customers. This knowledge is deemed significant in the sense that it would allow for the business to limit its operations to the specific needs of customers hence prevent possible wastage of resources. The ability to discern what the business can and cannot do saves the element of time and resource since resources would be directed towards useful and productive areas of operations (Jacobs, 2008). Expert knowledge is also needed for purposes of preventing possible collapse of the business immediately after starting operations. It is important to note that experts may have necessary knowledge that would help to expound that losses in the beginning of operations do not necessary mean that the business of selling badges is unprofitable rather it might mean that it is in the process of attaining a break-even point (Jacobs, 2008). This therefore requires the experience of such experts as sales personnel as well as finance experts. Consequently, the organisation should be well-versed in information and knowledge pertaining to the current technological advances especially in the manufacturing of badges. This information would assist in preventing unnecessary wastage of such valuable resources as time and money given that modern manufacturing processes are now controlled by applications rather than the conventional human minds. Question 1.3: Internal Sources of Information Classic Badges Company would require internal information for various purposes. Internal information is generated from the company’s internal operations and other activities based within the company. Some of the notable internal sources of information that the company can use in its operations include; first, there is financial information, which is related to the immediate performance and profitability aspect of the organisation at hand. This information is relevant to the company because it would determine amounts to be used for paying for salaries, taxes and supplies (Costas, Leeuwen & Bordons, 2012). This information is deemed important because it would help to determine the approximate period that the business would break-even and start making profits. Second, the organisation would be in need of marketing information. This is information that is used for purposes of identifying the products that the business deems successful within the market (Costas, Leeuwen & Bordons, 2012). For this case, marketing information should be used to determine whether customized or general badges make more profits. Third, the organisation would need purchasing information for purposes of establishing whether the supplies are in good quality and affordable within the market rates for purposes of ensuring that profits are maximized at all times (Costas, Leeuwen & Bordons, 2012). External sources of Information For this business, the following sources of external information should be sought; first, it would be important to seek information from various government agencies. This is needed for ensuring the necessary legal documents are secured for purposes of ensuring that the business is operating within an acceptable level of legal framework (Costas, Leeuwen & Bordons, 2012). Second, the business should seek information from databases and research institutions. This is deemed to be useful since it helps to avail information pertaining to the industry sales statistics as well as possible competition for the business (Costas, Leeuwen & Bordons, 2012). Question 1.4: It is a fundamental aspect that the business uses both internal and external sources of information for purposes of making decisions about future operations. However, for this particular case, Classic Badge Company should go ahead and seek specific information from the field through market surveys to find out the specific needs and taste preferences of the local market before it can go ahead to start operations. Information from commercial sites and databases might be useful but it would be effective if the business goes ahead to conduct own research to suit its own production process since information from the commercial sites and databases is too general (Costas, Leeuwen & Bordons, 2012). Task 2 Question 2.1 The first stakeholders mentioned within the case are customers. They are deemed important because they would determine the nature of marketing strategies, which the business would adopt in order to attract and maintain them (Kennon, Howden &Hartley, 2013). They would affect decisions pertaining to quality, pricing or even discounting of badges. Second, the company would need suppliers of the materials needed for making badges. These suppliers are expected to contribute their experiences in distributing materials at the right time to prevent lapses in demand and supply of badges to the customer. Third, the employees of the firm that are involved in executing the project are also perceived as fundamental people. They are expected to avail their skills and experiences in starting up businesses in order to prevent possible lapse of the project as a whole (Kennon, Howden &Hartley, 2013). They are expected to contribute in making decisions pertaining to salary ranges and bonuses. Question 2.2 For customers, the best method of contact would be face-to-face. A face-to-face contact would ensure that an effective relationship is achieved. This means that the business representatives would be tasked with the responsibility of soliciting for potential customers and put efforts towards making sure that a solid personal relationship is attained at all costs. Another way of contacting the customers is through telephone calls. This is a quick, easy and cheaper way of contacting them (Thompson, 2013). However, it is limits the ability to establish a personal relationship with them. For the case of suppliers, the best method of contact would be through telephone and letters. Use of phones is quick and effective in reaching the supplier hence timely decisions are met. Letters are also effective however; they take lots of time before they can reach the supplier. For the case of employees, the use of a face-to-face contact through meetings is deemed important. It helps to evaluate their performances in regards to the project at hand (Thompson, 2013). Question 2.3: Key Message Stakeholder Communication Channel When Responsibility The manner for which each one of you is involved in the decision making process of the project at hand: Starting up the Classic Badges Company Employees A sheet of paper that provides the evidence based research that supports the project at hand Also provide some of the progress reports needed for executing the task at hand Email followed by face to face Email platform End of November Bi-monthly Mary, Joyce and Steve Mary and Joyce Suppliers Presentation to team members of employees demonstrating advanced materials and price ranges in the market Letter and thereafter face to face End of November and then bi-weekly All team members Customers Discussion on the taste and preferences requirements for the new product at hand Face to face with sales team Weekly Sales team Question 2.4 The most effective way of improving on personal networking skills involves the ability to support and assist others (Weis, 2004). This involves availing useful information to other individuals as a way of making new friend and establishing the element of trust. I would also make sure to learn the art of following up with past useful contacts. This involves appreciating their contribution towards the success of the project. It might include even awarding them with monetary benefits as a way of ensuring that they are motivated with my dealings (Weis, 2004). Task 3 Some few years back, I had the privilege of working with National Australia Bank on a six month contract. Business overview; founded in 1893, it is one of the largest banking institutions in Australia in terms of market capitalisation as well as customer base. It operates in more than ten countries across the globe. The bank’s headquarters is in Victoria; Australia. It is traded within the Australia Stock Exchange platform. Thus, it is a public traded company. It is focused on such products as business, consumer and wholesale banking as well as wealth management and insurance services. The bank’s current chief executive officer is Andrew Thorburn. Question 3.1 The bank has numerous ways of conducting communication to various stakeholders. For instance, employees receive communication about significant changes in management, introduction of new products or new ways of conducting business through memos then a face to face meeting at their respective workplaces. Communication to customers was made through news week press releases that are sent in form of emails. In some urgent cases telephones are used to reach a customer that require certain distinctive services or products. Question 3.2 The bank continues to suffer from systemic pitfalls to its current communication platform especially because it still relies heavily on conventional models of communication like letters. Thus, there are ineffective and inappropriate information systems as well as communication platform that the organisation can use to effectively reach different stakeholders. The best way of improving on this traditional model is to embrace newer communication systems and platform like the use of email and company website to relay important information to different stakeholders like shareholders and potential investors (Fagan & Desai, 2003). A specific communication framework should be developed to expound on the roles and responsibilities of different communication users. Subsequently, the bank’s communication processes suffers from attitudinal barriers, which results from such negative employee behaviours like personality conflicts, poor management capacities, resistance to communication change and sometimes lack of motivation. This might be improved by way of establishing a team responsible for ensuring that employees are trained on the necessary ways of conducting effective and efficient communication processes and its contribution to attaining the overall objective of the bank (Jackson, 2000). Question 3.3 There are numerous ways under the bank can adopt to ensure that integration of communication systems is conducted effectively and efficiently for that matter. For instance, it will be fair that the communication system is improved to include new ways of communication like social media and other notable communication platforms like emails (Qurban & Austria, 2009). A team should be set to ensure that different communication platforms are evaluated to aid with performing a complete set up. Other modes like creation of a detailed company website that each and every stakeholder can have access to should be the first priority towards ensuring that integration is achieved altogether (Qurban & Austria, 2009). Question 3.4 i. I plan to access significant level of information and knowledge in relation to communication ways. With this information, I will be able to share and establish new and effective ways of communicating. ii. I also intend to practice the art of listening to people more often for purposes of ensuring that enough information is gathered in regards to their respective worries and concerns. iii. I plan to improve on my gestures whenever communicating is concerned. Face to face meetings are deemed important and effective when facial expressions and use of hands conforms to what is being said or done. It helps to cement the level of communication. iv. Another thing I plan to do in order to engage in effective communication is by way of ensuring that I make as much interactions with other people as possible. This helps to learn and share information that is not fairly accessible in other channels (Stephens, 2013). Task 4 Question 4.1 National Australia Bank uses several platforms to collect information that include; first, commercial sites related to the banking institution. This information is used to define the organisation marketing niche as well as the level of competition. Information is also collected by use of marketing surveys and questionnaires where customers are allowed to provide feedback relating to reliability of some products offered (Brooks, 2001). Formatting of the information is performed by personnel within the information technology department where modern formatting applications are used. Dissemination of important information is performed through memos and email to respective departments and individual employees (Brooks, 2001). Question 4.2 The process of improving information collection, formatting and dissemination in National Australia Bank might take different forms. The current collection of information is based on surveys and access through commercial websites. This can be improved by way of including observation as a model of collecting information (Cohen, 2005). This might involve paying a visit to the businesses for purposes of assessing their complaints firsthand. This would likely prevent the element of relying mostly on secondary sources of information. The bank would learn of new ways of providing their services to customers without being biased in any way. A non-indexed model of disseminating data can also be adopted by the bank for purposes of meeting needs attributed to the numerous problems faced (Cohen, 2005). The information can also be stored in databanks for purposes of ensuring that it is used for future training of current bankers. Question 4.3 The perfect way of enabling or rather improving access to information systems in National Australia Bank is through the adoption of information technology strategy. In case it is put into good use, information technology will make access to company information and other relevant information easier and also, it will allow the freedom of information regulations be met in timely manner (Eisenberg, Johnson & Berkowitz, 2010). Fairly documented and accessible information and knowledge that is integrated with an increased utilization of digital technological advancements also avails the possibility of a fairly informed and interactive environment for working (Eisenberg, Johnson & Berkowitz, 2010). It is important to realise that the technological assistance to information access is not the fundamental driver. This is because there are possibilities that some of the bankers would not benefit directly in using new technologies. This does not mean that the aforementioned strategy does not act to assist them in any way rather with perfect management of information, through embracing of a sharing organisation culture within the bank other modes of communication like face-to-face and telephones interactions are also met (Egan & Katz, 2007). Information technology strategy help to break the barrier associated with the “joined up” working by allowing the bankers to work and learn from most of information sources within the company. References List Brooks, S 2001, 'Integration of Information Resources and Collection Development Strategy', Journal of Academic Librarianship, vol. 27, no. 4, p. 316 Cohen, D. S., 2005. The Heart of Change Field Guide, Harvard Business School Press, Boston, MA Cotter, G, Carroll, B, Hodge, G, & Japzon, A 2005, 'Electronic collection management and electronic information services', Information Services & Use, vol. 25, no. 1, pp. 23-34. Costas, R, Leeuwen, TN, & Bordons, M 2012, 'Referencing patterns of individual researchers: Do top scientists rely on more extensive information sources?', Journal of the American Society for Information Science & Technology, vol. 63, no. 12, pp. 2433-2450. Eisenberg, M, Johnson, D, & Berkowitz, B 2010, 'Information, Communications, and Technology (ICT) Skills Curriculum Based on the Big6 Skills Approach to Information Problem-Solving', Library Media Connection, vol. 28, no. 6, pp. 24-27. Egan, T, & Katz, IR 2007, 'Thinking Beyond Technology', Knowledge Quest, vol. 35, no. 5, pp. 36-42. Fagan, JC, & Desai, CM 2003, 'Communication Strategies for Instant Messaging and Chat Reference Services', Reference Librarian, vol. 38, no. 79/80, pp. 121-155 Jackson, ME 2000, 'Research Collections and Digital Information: Will There Be a Role for Interlibrary Loan.’ Journal of Library Administration, vol. 31, no. 2, p. 15 Jacobs, B 2008, 'Moving out of the Box: Tools for Team Decision Making', Booklist, vol. 104, no. 12, p. 19. Kennon, N., Howden, P., &Hartley, M., 2013 Who really matters? A stakeholder analysis tool, Retrieved 12 December 2014 from http://www.csu.edu.au/__data/assets/pdf_file/0018/109602/EFS_Journal_vol_5_no_2_02_Kennon_et_al.pdf Qurban, MH, & Austria, RD 2009, 'Improving the Communication Skills of IS Developers during Requirements Elicitation using Experiential Learning', Journal of Information Systems Education, vol. 20, no. 3, pp. 301-311. Stephens, M 2013, 'Essential Soft Skills', Library Journal, vol. 138, no. 3, p. 39. Thompson, R 2013. Stakeholder Analysis: Winning Support for Your Projects, Retrieved 12 December 2014 from http://www.mindtools.com/pages/article/newPPM_07.htm Weis, JP 2004, 'Contemporary Literacy Skills', Knowledge Quest, vol. 32, no. 4, pp. 12-15 Read More