Types of Business Communication

Business Communication is any communication used to promote a product, service, or organization with the objective of making sale. In business communication, message is conveyed through various channels of communication including internet, print (publications), radio, television, outdoor, and word of mouth. In business, communication is considered core among business, interpersonal skills and etiquette. There are two types of business communication in an organization :

1.      Internal Communication

Communication within an organization is called “Internal Communication”. It includes all communication within an organization. It may be informal, formal function, or department providing communication in various forms to employees. Effective internal communication is a vital mean of addressing organizational concerns. Good communication may help to increase job satisfaction, safety, productivity, and profits and decrease grievances and turnover.

Under Internal Business Communication types, there come:

·         Upward Communication

Upward communication is the flow of information from subordinates to superiors, or from employees to management. Without upward communication, management works in a vacuum, not knowing if the messages have been received properly, or if other problems exist in the organization. By definition, communication is a two-way affair. Yet for effective two-way organizational communication to occur, it must begin from the bottom.

Upward Communication is a mean for the staff to:

·         Exchange information

·         Offer ideas

·         Express enthusiasm

·         Achieve job satisfaction

·         Provide feedback

·         Downward Communication

Information flowing from the top of the organizational management hierarchy and telling people in the organization what is important (mission) and what is valued (policies). Downward communication generally provides information which allows a subordinate to do something. For example, instructions on how to complete a task. Downward communication comes after upward communications have been successfully established.

This type of communication is needed in an organization to:

·         Transmit vital information

·         Give instructions

·         Encourage 2-way discussion

·         Announce decisions

·         Seek cooperation

·         Provide motivation

·         Boost morale

·         Increase efficiency

·         Obtain feedback

Both Downward & Upward Communications are collectively called “Vertical Communication”

·         Horizontal/Literal communication

            Horizontal communication normally involves coordinating information, and allows people with the same or similar rank in an organization to cooperate or collaborate. Communication among employees at the same level is crucial for the accomplishment of the assigned work.

Horizontal Communication is essential for:

·         Solving problems

·         Accomplishing tasks

·         Improving teamwork

·         Building goodwill

·         Boosting efficiency

2.      External Communication

            Communication with people outside the company is called “external communication”. Supervisors communicate with sources outside the organization, such as vendors and customers.

It leads to better:

·         Sales volume

·         Public credibility

·         Operational efficiency

·         Company profits

It should improve:

·         Overall performance

·         Public goodwill

·         Corporate image

Ultimately, it helps to achieve:

·         Organizational goals

·         Customer satisfaction

Source :

http://www.notesdesk.com/notes/business-communications/business-communication-and-its-types/

Types of negotiations

Negotiation is a method by which people settle differences. It is a process by which compromise or agreement is reached while avoiding argument and dispute. In any disagreement, individuals understandably aim to achieve the best possible outcome for their position (or perhaps an organisation they represent). However, the principles of fairness, seeking mutual benefit and maintaining a relationship are the keys to a successful outcome. There are 7 types of negotiations. It's important to consider which type you're facing each demands a different strategy :

1.      Win-Lose Negotiations

            In game theory they call a win-lose negotiation a zero-sum game. The vast majority of games are zero-sum. A common analogy for a zero-sum game is dividing a pie. The pie doesn't get smaller or bigger the players play a game to decide who gets the bigger slice. If you're facing a win-lose negotiation focus your strategy on determining the other party's minimum requirements (e.g. bottom price).

2.      Win-Win Negotiations

            Win-win negotiations involve expanding the pie. For example, if two people decide to go into business together: their partnership negotiations are win-win. One partner may win and the other may lose. However, a win-win outcome is possible because they hope to make money on their investment (expand the pie). Salary negotiations and business-to-business sales can usually be considered win-win. Win-win negotiations may be just as focused on building a bigger pie as dividing the pie fairly. Every effort should be made to keep negotiations friendly and constructive.

3.      Lose-Lose

           Lose-Lose negotiations involve a situation in which everyone is going to lose. Lawsuits are often lose-lose. Let's say you leave your jacket at a restaurant coat-check and they lose it. Your negotiations for compensation with the restaurant's manager are lose-lose. Your not likely to get more money than the coat was worth. The restaurant also loses. Lose-lose negotiations can quickly turn bitter and adversarial. Despite the fact that both parties will lose it's important to try to maintain a collaborative approach.

4.      Adversarial Negotiations

           Adversarial negotiations are highly competitive in nature. Win-lose and lose-lose negotiations are most likely to be adversarial. Nobody wants to lose, this tends to drive intense competition. In some cases, win-win negotiations are also adversarial. For example, high stakes business-to-business sales negotiations often become adversarial (customer vs seller). In extreme cases, negotiations are adversarial because the parties involved intensely dislike each other. In such cases, negotiators may not be interested in winning. Instead, they may seek to maximize the losses of the other party. Negotiations between political rivals may turn destructive in this way. Adversarial negotiations require battle strategies.

5.      Collaborative Negotiations

           Collaborative negotiations are creative and friendly. For example, business partnership negotiations are often collaborative. Win-win negotiations that are expected to yield big wins tend to be collaborative. Collaborative negotiations rely on persuasive techniques, optimism and creativity.

6.      Multi-Party Negotiations

           Multi-Party negotiations are complex negotiations between two or more parties. They can be extremely challenging and may take years to complete. International treaties between nations are often multi-party. Multi-party negotiations require advanced diplomatic techniques.

7.      Bad Faith Negotiation

           Bad faith negotiation occurs when a party makes commitments that they have no intention of keeping. Bad faith negotiation is often used as a delay or diversionary tactic. For example, a country may sign an environmental treaty with no intention of implementing it just to relieve political pressure from its citizens. If you suspect that the other side is negotiating in bad faith, it's time to start thinking about penalties in your agreement.

Sources :

https://www.skillsyouneed.com/ips/negotiation.html

https://training.simplicable.com/training/new/7-types-of-negotiation-and-1-big-myth

How to Open a Negotiation

Opening a negotiation is a crucial step that sets the tone for the rest of the bargaining process. The purpose of the opening is to create the proper setting for the upcoming negotiation. Oftentimes, the atmosphere you create and the way in which you present your argument can mean more to the transaction than any technical matters or financial terms. These steps will enable you to get the negotiation process off to a successful start :

1.      Become acquainted with the other party. The personal chemistry has to work in order to receive a successful result. It is rarely a good idea to leap right into things in a negotiation. Build trust and get your counterpart to relax and feel at ease. Discuss news headlines or the weather, share a meal, or have a drink and enjoy each other’s company. People tend to do business with people they know and like. This skill is especially helpful in international negotiations where socializing between parties is far more common than in North America.

2.      Define the interpersonal dynamic. At the opening of a negotiation, your tone of voice, your choice of words, and your appearance will influence and govern the interpersonal dynamic. When the personal chemistry clicks, bargainers often start making decisions based on their feelings rather than making rational decisions.

3.      Summarize the background. When you are ready to move forward after getting acquainted, open by summarizing the history of the transaction. Confirm that you and the other party are in agreement about the reason for meeting and about the issues that have been resolved previously. Then fall silent, forcing the other party to start talking. By doing this, you will obtain more, often valuable information while arriving at a discussion in which cooperation is the dominant theme.

4.      Prepare an agenda. This can be an effective tool where your ideas are stated in an orderly arrangement and matters can be discussed in a structured manner. Examine what it is the other party intends to get from the negotiation, which questions may come up for discussion, and who will participate. Your agenda will govern the expectations and preparations of the other party and the composition of their negotiation delegation. If your opponent prepares the agenda, insist on a copy in advance so you can prepare your delegation and avoid surprises.

5.      Lay the groundwork for bargaining. Your job is to get the other party to specify all of their requirements. If you meet their demands too soon by making a new and better offer, you will diminish your power position. A more hesitant and cautious approach will enable you to inch your way forward and get a read on the other party and their intentions before setting your course.

The goal of negotiation is to find a cooperative solution where both parties feel satisfied. A prerequisite for cooperation is a positive opening. By implementing these tips into your opening, you will create the proper setting for your negotiation where you and your party trust one another and you have positioned yourself favorably as you commence the bargaining process.

Source :

https://www.google.com/amp/s/keldjensen.wordpress.com/2010/11/02/how-to-open-a-negotiation/amp/

10 Ways to Get New Customers

Getting new customers for your business is hard work, but it's necessary if you want to be successful. Here are 10 ways you can get the attention of new prospects and turn them into loyal customers :

1.      Make Use of Social Media

The first step to acquiring new prospects is to use social media to your advantage. Creating Facebook, Twitter, Instagram and LinkedIn accounts for your business is free and can exponentially increase the exposure of your company. More importantly, since these platforms have become ubiquitous, prospective clients may be turned off if your business doesn’t have a social media presence.

2.      Keep Content Fresh

Consistently updating your website and social media accounts with new content is a great way to stay relevant and show prospects that you’re actively engaged with your industry. Find articles, infographics or studies that are related to your business and post links on your social media accounts. Additionally, it can be helpful to maintain a weekly blog to showcase your own opinions and personality.

3.      Use Testimonials

One of the best ways to attract new prospects is to show off your existing ones. If you know that you’ve provided a customer with a particularly positive experience, ask them for a testimonial. These testimonials don’t have to be elaborate or embellished. Simply providing proof that you can deliver on your promises will help to give faith to prospective customers.

4.      Network

Making use of the Internet can go a long way towards attracting new prospects, but personal connects are the lifeblood of business. Whenever possible, engage with prospects and clients face-to-face in order to give them a personalized experience. By making an effort to get to know everyone you work with individually, you can create a stronger bond, increasing the likelihood that they decide to do business with you.

5.      Expect Resistance

It’s human nature to follow a set routine. As you prospect for new clients, don’t be surprised if you encounter resistance from people who feel set in their ways. If you sense that a prospective client is hesitant about doing business with you, listen to his or her concerns and do your best to address each of them accordingly.

6.      Get Referrals from Existing Customers

One of the easiest techniques for finding new prospects is to make use of your existing customer pool. Talk to your clients and see if they know of anyone who could also benefit from your services or expertise. Remember that word of mouth can be incredibly powerful, and by having an existing client refer you to a prospect, you can greatly increase the likelihood that you land the new customer.

7.      Return to Former Customers

Sometimes customers leave you for one of your competitors. While that’s an unavoidable part of doing business, there is no reason to assume that the change is permanent. Rather than trying to win over new clients, consider returning to some of your former customers and see if they’re interested in coming back. Oftentimes, clients aren’t nearly as happy with a change as they thought they might be and are more than willing to return to your business.

8.      Keep Track of the Competition

In order to succeed in business, you need to know your competition. This knowledge can be especially useful in acquiring new prospects. If, for example, you know that a competitor has introduced an initiative that is unpopular or that they’re experiencing a staff shakeup, it may be time to swoop in and see if any of their clients are up for grabs. By keeping your ear to the ground and looking after your competition, you should be in a prime position to capitalize on any opportunities.

9.      Don’t Get Complacent

After experiencing a sustained level of success, some businesspeople get complacent and they stop searching for new prospects. While there is certainly nothing wrong with success, you should never lose the initiative to do more. Remember that, eventually, your existing customers may move on or go out of business, and you’ll need to replace them somehow. If you allow yourself to become too satisfied with what you’ve already done, you may not be able to replace a customer that leaves, or you may miss out on a promising new prospect altogether.

10.  Listen to Your Customers

Listening to your existing customers can give you invaluable insight into what you’re doing correctly in your business. They can tell you what your strengths are, allowing you to highlight these strengths to new prospects. Additionally, by maintaining a constant dialogue with your clients, you can correct issues before they grow into larger problems that could result in losing a valued customer.

Source :

https://www.businessknowhow.com/marketing/get-new-customers.htm

6 Strategies to Resolve Conflict at Work

Workplace conflict can occur in a variety of ways: between two employees, among entire teams or between supervisors and the team members they manage. As difficult as the issue might seem in the moment, resolving team conflict is possible. There are six strategies to resolve conflict at work :

1. Embrace conflict.

When conflict arises, don’t avoid it or pretend nothing has happened. As time goes on, tension will build and the conflict only will get worse. Deal with these uncomfortable issues as soon as possible, before problems and bad feelings become embedded in everyday work. If you notice a conflict between employees, encourage them to find a way to work it out. If conflict develops between two teams, it's a good time to improve interdepartmental communication. If you have a conflict with one of your employee, address it head on and in private. 

2. Talk together.

Set up a time and place so you can talk for an extended span without outside interruptions. When you do meet, each person should have adequate time to say what he or she believes the other party needs to hear. Don't let any individual monopolize the conversation or control the topic. Each person should talk about the disagreements and how he or she feels about the situation. Remember, this is not the time to attack or assign blame. Focus on the problem, not your opinion of the other person’s character.

3. Listen carefully.

It's essential to give your complete attention to the person who is talking. Do not interrupt the other person. Make sure you're getting the message he or she intends to send. Rephrase and repeat back what you've heard to confirm understanding. Ask clarifying questions if needed. You can request that the other person repeat a central idea or reword his or her frustrations in a way that makes sense to you. Listening always should be about gaining understanding. Don’t let yourself become reactionary to the other person's words.

4. Find agreement.

Your conversation primarily will focus on the disagreements, but resolution is possible only when you find points of agreement. You should emerge from the experience with some positives instead of all negatives. Shed light on commonalities. Share examples or instances in which you agree with the other person or can see another point of view. For example, if you disagree on new sales tactics, you might share what you liked about the other person’s idea or the motivation to work harder for the team. Looking for agreement demonstrates your willingness to seek out common ground and build a relationship around those trust elements.

5. Provide guidance.

If you're in a leadership position, there are times you may need to mediate work conflict. Don’t take sides, ever. Realize you are there simply to help your employees work out their problems. You might need to guide the conversation. And if hurt feelings run high, it's likely you'll need to redirect the topic so your employees return to the real problem. If you're in a position to give advice on next steps, highlight the positive aspects of the process and suggest related topics or actions they can work through after the meeting.

6. Be quick to forgive.

Every conflict needs a clear resolution that acknowledges hurt feelings and finds a solution that begins to mend them. Apologize, tell the other person you're truly sorry for any ill words or actions and mean it. You'll also need to forgive the other person. Agreeing solely for the sake of appearances can lead to grudges that deepen over time, undoing any progress you've made together.

Source :

https://www.google.com/amp/s/www.entrepreneur.com/amphtml/303617

Establishing The Purposes of Business Meeting

Meeting is one of the major media of oral communication. In general sense a meeting is a gathering of two or more persons with the view of making decisions through discussion. It is an assembly of people does decide on some preset issues. So, a meeting is a gathering where two or more people assemble together with a view to taking some decisions on some preset issues though mutual discussion. Every organization, large or small, arranges good number of meetings on certain time interval to discuss and decide on different issues.

Purposes of Business Meeting

Meeting is one of the major media of oral communication. It is essentially important for every organization. The basic objective of meeting is to take decisions on some predetermined issues. It has also some other purposes. The objectives or purposes or importance of meeting are discussed below :

1.      Making Decisions: The foremost objective of any meeting is to take important decisions on some predetermined issue. Decisions are taken here on consensus and it is very crucial to take decisions on routine and non-routine business affairs.

2.      Exchanging Information: Meeting is arranged also to provide information to the audience about various matters of the organization. Audience also exchange information in meetings.

3.      Conveying Organizational Vision, Mission and Operational Plans: Meetings are also called to convey organizational mission, vision and operational plans to the newly appointed employees. Managers or heads of various departments call these types of meetings for the fresher so that they can be better acquainted with organizational culture, mission, vision, plans etc.

4.      Announcing Changes: Another purpose of arranging meeting is to announce the upcoming changes brought in organizational policies, mission, vision, logo etc. before the audience. The causes, benefits and ground of such changes are explained in the meeting so that people understand and accept the probable changes without much resistance.

5.      Negotiation: Meeting is also called for making negotiations between the conflicting parties through fruitful discussion. Sometimes employers and employees or trade union leaders sit in meeting together to reach on some agreement so that organizational activities can be run smoothly.

6.      Resolving Conflict: In large organizations conflict among people is most common. Healthy conflict helps to increase productivity but unhealthy or undesirable conflict must be resolved immediately after found. Meeting helps the conflicting parties to reach on common understanding and thus resolving or minimizing conflict.

7.      Solving Problems: An important purpose of meeting is to provide solution to organizational problems. Problems that are critical and require opinions of most of the members of a board or council must be solved by calling meeting. In meeting diverse thoughts are found that help to face problem suitably.

8.      Reviewing and Informing Progress: Meeting is also called for reviewing and informing the progress of any project, plan and activity and so on. Form it the attendants of the meeting are able to know the present status of the projects and can provide their opinions to improve if there is any loophole.

9.      Celebrating Success: Meetings are often called to celebrate the success of the organization, completion of any project, achievement of any award etc. it increases the organizational harmony and motivates employees to work united to achieve more.

10.  Interaction with External Stakeholders: Every organization is to work with different parties of the society and it must build a long term harmonious relationship with them. Meetings are called to exchange information and to share experience with different stakeholders of an organization so that their interaction with the firm is increased.

Form the above discussion we find that meeting has great importance in business. Without it, business activities cannot be performed smoothly. In fact it serves important purposes for an organization.

Source :

http://bizcommunicationcoach.com/what-is-business-meeting-purposes-of-business-meeting/

What Makes a Great Meetings?

Generally, meeting means an occasion when people come together to discuss or decide something. Meeting member to get together and discuss a problem or issue or a special matter. It is also defined as a situation in which two or more people meet together in order to take a decision. It is an effective and important tool in the communication process. Meeting enables face to face contact with a number of people at the same time. Many meetings take place in a business organization. Some definitions of people at the same time. Many meetings take place in a business organization. Whether large or small, person-to-person, in a conference room or via web-based chat rooms, meetings can be efficient communication tools when thoughtfully conceived and well-managed. But successful meetings don't happen all by themselves. Here are 5 steps to great meetings:

1.      Consider your desired outcome.

Before you reserve a room and send out invitations, take a few moments to consider why you want to call your meeting in the first place. Who should be present? What outcomes do you expect as a result of the meeting? What impact do you hope to have? As with any tool, meetings yield desirable results only when their limitations are taken into consideration. A timely email, picking up the phone, or a quick visit to someone in the lab might get you what you want much more quickly and efficiently than organizing a meeting. When mismanaged or poorly run, meetings can be counterproductive, distracting, and a waste of time and money.

2.      Create an agenda.

Once you clearly understand the reasons for your meeting and your intended outcomes, create an agenda. Clear agendas drive successful meetings. The agenda not only tells people what to expect, it outlines topics of discussion, sets the context and scope, lists key issues, and states desired objectives. When sent out before the meeting, an agenda permits you and others to prepare. Avoid wasting valuable meeting time distribute information beforehand. If appropriate, ask for input and have your most current agenda visible during the meeting. It helps keep the meeting focused and references the most current information.

3.      Identify and invite key participants.

Identify key people you need in the meeting. Include anyone you believe will help you get the information and results you need-;no more and no less. This list is easier to compose once you have an agenda completed. Avoid excluding knowledgeable people based on politics. Include any people, groups, or departments that you're certain will be affected by your meeting. Have a plan for distributing your results to those who were present and also to anyone invited but unable to attend.

4.      Present the issues and stay focused on the goal.

Begin and end your meeting on time. Make sure you have any tools, data, and reports you need readily available before your meeting starts and put it in the meeting space in advance. Don't waste meeting time hooking up equipment, checking connections, or looking for files on your laptop if these tasks can be completed earlier. People will appreciate your efforts to conduct an efficient meeting that ends on time or earlier than scheduled. Once you start, set a good example by speaking clearly, respectfully, and constructively. Encourage all meeting participants to contribute to the meeting if someone isn't actively participating, the meeting is probably a waste of time for them. Move your meeting along by sticking to your agenda. If discussion goes off topic, or becomes personal and unconstructive, refocus. Identify topics for escalation and possible off-line discussions for a later time. Animated or heated discussion during meetings can be constructive and quite productive as long as it does not become personal and off topic.

5.      Wrap-up the meeting.

Once the agenda has been covered, or your allotted time is up, wrap up the meeting. Avoid the urge to continue by addressing any new issues that may come up. The wrap up officially closes the meeting. It confirms, clarifies, and recaps what was discussed and everyone's understanding of the situation or goals. Confirm whether or not your meeting has fulfilled your objectives. If it turns out that your meeting has left you with additional questions, identify any new topics, suggest further action, escalate your concerns, or reschedule follow-up meetings as needed. After the meeting, distribute notes and minutes to those on your distribution lists in a timely fashion. As a final thought, solicit feedback from others.

Source :

https://www.google.com/amp/s/thebusinesscommunication.com/what-is-meetingadvantages-and-disadvantages/amp/

https://www.inc.com/peter-economy/5-steps-to-great-meetings.html