Unit 04 Business Communication Solution:
Introduction
Business communication means spreading information within the people of the organisation. It is one of the most effective skills of the company that can be used by the people. The way of sharing information in the company can also be included in the business communication. It is a process of exchanging information within two parties. Effective communication helps the company to grow from inner side. The popularity of the company also increases with the effective communication. It has several advantages in the organisation.
In this report different sources of business communication will be explained. Different types of business information and the origin of the different information will be explained in the business. This report will help the company to understand the effect of communication in the business with detail. Different documentation of the organisational communication will be provided in the report of the communication. It can be considered as a guide for understanding business communication and the impact of good communication in the business.
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Task 1
P1. Explain different types of business information, where the information originates from and the purpose of the information and analyse them.
Information in the business comes from different sources and the information for the business are used in different purposes. There are different sources for the business information and the information are used in the company for different purposes. Business information can be considered one of the most important segments of the business (Cornelissenet al.,2015). It helps to connect different people with each other. Scientific and technical segmentation are the other important parts of the business. In this report Google will be chosen as the company for researching.
Different types of business information will be explained below:
News
News is one of the most important sources of the business information and it helps to get a bulk of information within less time. News provides information regarding the current events in the country. It helps to become upgraded and the current information can be used by the company. Source of this information are television, radio and other audio video and print media. It helps the company to get the information about the competitors and the economic condition of the country can also be gathered by this sources of information in the company. Nowadays some of the common topics in the news are war, government and politics.
All the information extracted from news cannot be used in the company but maximum information of news are of use and it helps the company to become more upgraded.
Market research
It is another source of information and it helps the company to get information regarding the thinking of people and the choice of the market. Trend and the choice of the people can be analysed by the market research and it helps the company to upgrade the product lines and the service according to the choice of the people (Gillespie and Schiffman, 2018). The company can become more up to date regarding all the information in the company. It helps the company to become more efficient and it makes the company more popular within the people of the country.
Credit and financial information
This information of the company helps to build trust about the company and the people of the country. The customer can understand the transparency level of the company. It increases the financial governance of the companies and the company becomes more transparent to the customers and it helps the company to become upgraded and it is helpful to increase the effectiveness of the financial performance of the company.
Executive profiles
The executive profiles of the company helps the company to communicate with the customers and the level of the communication with the people are increased in this way in the company. It helps the company to become more up to date and helps in word of mouth marketing (Kurtzet al.,2016). The executive profiles of the company helps to reach up to several new customers and the executive profiles of the companies have a strong impact on the people. They can help the company by promoting the brand if the company within the elite people.
Economic analysis
Economic analysis helps the company to compare the current features of the company to compare to the economic situation of the country and it helps the company to become more upgraded and it is helpful for the companies to gather information about the economy. The economic analysis helps to know the impact of the currency exchange rate and the inflation rate of the country is taken into consideration by the economic analysis of the company. It helps the company to become more advanced and the profitability of the company can be increased in this way in the company.
IT research
This research of the company helps the company to get information about the upgraded technology in the society. It helps the company to become more upgraded related to technology. Technology is one of the most important factors in the country and the companies should be upgraded regarding the technology. The IT research helps the company to become upgraded in the technology. IT research provides different information to the companies regarding the technology. Information technology helps to circulate information within the world and it is highly helpful in the company to update the new technology in the company.
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M1. Analyse different types of business information and their sources.
Different types of business information have already described in the above portion. Now the different types of information will be analysed that will help the companies to upgrade the internal and external processes.
Executive support systems
Executive support systems help the companies to take strategic decisions. Summarisation of different information in the company can be analysed by this system and it helps the company to become more advanced (Lockwood, 2015). The executive support system is more helpful when several data is involved in the company and all the data can be analysed in the system of the company. It increases efficiency of the systems and it helps to increase efficiency of the company and the instrument panel of the company helps the company to use different tools for the decision-making purposes. It is useful for the company to gather all types of information and the information of the companies can be used in the company. All the key business activities can be managed by this system of the company. This information system is handled by a group of efficient executives of the companies.
Management information system
Management information system helps the company to manage the internal information of the company. All the internal information is combined and used in the whole organisational purpose of the company. This system takes the data from the transactions of the company and helps to synchronise the entire data of the internal sources of the company. This system is used as the middle management of the company and effectiveness of the company can be increased in a very fast way.
Decision support systems
This system is specifically used to support the decision-making system of the company and the uncertainty of the company can be reduced and it helps the company to become more upgraded. It helps the company to use resources, more effectively (Ludwigand de Ruyter, 2016). Decision making in the organisation becomes easier. Faster decision making makes the organisations more effective. It also involves several complex decision making and the time management of the companies can be taken care by this information system of the company.
Knowledge management systems
It is used in the business for a special purpose. It helps the business to create and share information. New knowledge and expertise can be used in this information system of the company. Efficient categorisation and the distribution of knowledge can be done in a more efficient way in the company. It helps the company to become more upgraded. This system is used to compressed information and for documentation in the company.
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Task 2
P2. Present complex internal business information using written document, verbal presentation and power point as appropriate in the context.
In this portion the financial report of the chosen company will be given. Google is one of the famous technology companies in the world. The financial analysis of the company will be given below:
|
|
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
2017
|
2018
|
|
Gross Margin %
|
62.61
|
64.47
|
65.21
|
58.88
|
56.78
|
61.07
|
62.44
|
61.08
|
58.88
|
56.48
|
|
Operating Margin %
|
35.1
|
35.4
|
31
|
25.4
|
23.3
|
25
|
25.8
|
26.3
|
26.1
|
22.9
|
|
Net profit margin
|
28%
|
29%
|
26%
|
21%
|
22%
|
22%
|
22%
|
22%
|
11%
|
22%
|
|
Earnings Per Share USD
|
10.21
|
13.17
|
14.89
|
16.16
|
18.79
|
20.57
|
22.84
|
27.85
|
18
|
43.7
|
|
Return on Assets %
|
18%
|
17%
|
15%
|
13%
|
13%
|
12%
|
11%
|
12%
|
7%
|
14%
|
|
Return on Equity %
|
20.3
|
20.68
|
18.66
|
16.54
|
16.25
|
15.06
|
14.08
|
15.02
|
8.69
|
18.62
|
|
Current Ratio
|
10.62
|
4.16
|
5.92
|
4.22
|
4.58
|
4.8
|
4.67
|
6.29
|
5.14
|
3.92
|
|
Quick Ratio
|
10.08
|
4
|
5.7
|
3.95
|
4.28
|
4.52
|
4.5
|
6
|
4.98
|
3.76
|
Profitability ratio
Profitability ratio of the company is used to gather information of the company and it helps to measure the profitability. Profitability means the amount of earning the company can keep with itself for the required expenditure. The above ratio analysis is showing the profitability of the company for 10 years. It can be stated that the gross profit margin of the company has been decreased over these years. This information helps to understand that due to high competition in the market the profitability of this company is getting balanced with the other companies. In this situation the company should implement new strategy in the company and that will help the company to increase the gross profit. The operating profit margin of the company has been decreased but the cost management of the company is highly balanced and from this fact, it be stated that the company is highly capable for managing the cost in the company. It is useful in the company to increase profitability.
It helps the company to gain more benefit. The net profit margin of the company is not much lower than the operating profit margin and it denotes that the company is effective to manage the costing of the company. It helps to increase efficiency of the company.
Liquidity ratio
Liquidity ratio denotes the capability of the company to meet the financial obligations of the company. It helps the company to get more effective in terms of assets and liabilities. Liquidity of the company can denote the capability of the company how the company can be able to invest in the fund (Annualreports.com, 2019). From the above calculation it can be seen that the current ratio of the company has been decreased over the years. In earlier days the amount of current ratio was too high and the company was not used to invest much in the funds and it is one of the most important reasons of the companies for being so high liquidity. It helps the company to increase the capability of meeting the financial obligations in the company.
Efficiency ratio
The efficiency ratio of the company helps to denote that how effectively the company can manage the assets and liabilities and in this calculation, 7it can be seen that the efficiency of the company has been reduced. The return from assets has been reduced over time. From this analysis it can be stated that the company should now be concern about investment and investments of the company should be more worthy and effective.
P3. Produce corporate communications for your chosen organisation.
Google is one of the most famous technology companies in the world. The company deals with different products and services. It is into several electronic products and new technologies. The key products of the company will be explained below:
Google Assistant
Google assistant is one of the most advanced technologies that is brought by Google. Google home is an artificially intelligent device that can understand voice command. This product is now helping people to reduce the loneliness of the people. It comes in two sizes one is mini and another is bigger, the bigger one is able to be connected directed to the wi fi but the mini assistant needs a smartphone to be connected with the wi fi. Both the devices are getting highly popular in the
Search engine
Search engine of the Google is one of the most popular service. It is one of the most popular identities of Google. The search engine of Google is used to search several things in the company and it is highly used by people and it can be considered the most popular search engine.
Google pixel
Google has come with a range of android that has become highly popular in the company. Google Pixel has come in different ranges and the range of android has become highly popular for the company (White, 2015). It is one of the most desirable phones within the young generation.
Fitness wears
Google has come with a new fitness wearable ranges. It has not become much popular within the people as compared to the other products of the company.
P4. Evaluate the external corporate communications of an existing product or service.
In this portion of the report the recent launched product of Google will be evaluated in terms of the external communication. Google assistant is the product that has been recently launched by the company (Kwokand Yu, 2016). The external communication of this product will be given in this portion of the report.
Google is one of the most popular technologically advanced company. Recently it has launched Google assistant for home by targeting specially the corporate people. The product can understand voice command of the people and it can be connected several smart devices in the home. The product of the company has gained huge popularity within the corporate and the young people.
Social media Advertisement
Google has done a social media advertisement for the product. It has provided advertisement in Facebook, You Tube, LinkedIn and Instagram. The social media advertisement is becoming popular as it can reach up to more people within less time. From the social media communication, it has gained most of the popularity.
Advertisement
Google home has been promoted through the print media and digital media advertisement. These advertisements of the product have made it more popular to the customers. It has achieved huge popularity from the different media. Google has always used clever techniques of advertisement and the advertisements of Google has made it more popular for the customers.
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Task 3
P5. Explain the legal and ethical issues in relation to the use of business information.
Google has always been ethically correct. Several legal and ethical considerations are strictly followed in the organisation for suing the business information. The major legal ethical consideration of the company will be explained below:
Data protection Act 1998
According to this Act Google has always protected the privacy of the customers. The company has always been one of the most effective companies to protect the data act. All the data of the customers have been protected with full of privacy in Google (Legislation.gov.uk, 2019). This act has given the right to Google to control all the information of the customers but if any data is leaked from the company, the company will be liable for the fact.
Employment law
Employment law has been always concerned about maintaining employee relationship of the company. It maintains the internal conflicts which helps the company to get a better environment in the organisation (Hg.org, 2019). The information of the employees are controlled under this act and the data of the employees are supposed to be protected by the company by the statement of this law. This law helps the company to manage the relationship among the employees and the data and information of the employees can be controlled by the company.
Contract law
Contract law gives the authority to all the people in the organisation to maintain the contract and in case of breaches any contract the person should file a case under section of contract law against the party who has breached contract (Hg.org, 2019).
P6. Explain the operational issues in relation to the use of business information.
Overhead managing
Google has faced problems regarding managing overhead. The cost management and the earning management in the company should be done more effectively. The cost of the company should be managed more effectively as the bigger companies face more problem related to the costing and managing the overhead.
Performance monitoring
Google does not have much strong financial governance. The financial governance of the companies should be managed more effectively as it helps the company to become more progressive and the performance of the employees should be maintained more effectively (Lockwood, 2015). Google has a performance appraisal technique but the performance controlling facility is not strong in the company.
M2. Analyse the legal, ethical and operational issues in relation to the use of business information, using appropriate examples.
Refer to P5 and P6
Task 4
P7. Outline electronic and non-electronic methods for communicating business information using examples for different types of audience.
Electronic communication
E-mail
Electronic mail has become the replacement of the letters. It has become highly popular for especially corporate communication. It helps to communicate very easily and in a faster way. This way of communication is highly popular as the fast communication helps to reach up to more recipient in less time.
Social media
Social media communication is an easier way to communicate with the people. It has become huge popular. Different social media websites are there to connect people through video calls, voice call and chats. It has helped the company to communicate with the people in a faster way.
Non-electronic communication
Letters
Letters are the oldest form of communication. It has now becoming obsolete. Still it is being used in some cases due to check the authentication of the address of the recipient and for other reasons.
Fact to face communication
It is the actual type of communication. In this type of communication the authenticity is more and the chances of conflict is less. It is always the best way to communicate but now it is not always possible and thus the replacements have been invented.
Conclusion
Communication is one of the most important things in the business. Communication helps the business to grow and there are different sources of communication. In this report all types of communication has been described. The report can help to understand the detailed communication of the businesses and the chosen organisation Google has been analysed in several ways.
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