Business Communication – How It May Cost You?
Business Communication – Ignoring Business Communication: Might Cost You Time and Earnings
The Communication word comes from the Latin word communism’ which means to participate in sharing.
Communication is nothing else which sharing thoughts, knowledge, opinion, feelings, attitude or even a fact.
So, how could you even imagine your organization running without appropriate business communication?
After all, it consists of the most precious asset- The Human Asset.
Business Communication – The Human Asset?
Even though there are quite a few methods of getting used in the business world to remove this pitfall from their companies known as communication gaps.
• Techniques like Management Information System (MIS),
• Corporate Information System (CIS),
• and Decision Support System (DSS)
are helping the corporate world avoid the results of lousy communication existence in a company.
Business Communication Phase?
- Now, coming to this stage, what if you are ignoring this vital and organic part of your company.
Allow me to tell you one thing!
There’s no pioneer in this Whole planet who awakens with a thought:
“Now is a great day! And I will prevent most of my employees intentionally.”
I mean! Nobody thinks like this and not even wishes to feel this way.
Business Communication Productivity?
It’s all about communication, our low capability to listen, comprehend and speak to others can make us price awfully regarding our business but can also affect our personal life too.
Here we want to show you a mirror if you’re one of them that I got every talent and tools and nothing else is needed and have never thought of doing something about your communication.
“Disengaged employees can cost $450 to $550 billion percent in productivity.”
Inadequate communication can cost your earnings adversely because its impact can be viewed directly at:
Loss of Customers? – Interactive Forms of Communication
One interactive communication is enough to break the ice.
There are three ways through which you can lose your clients due to poor communication.
Loss of Present Customers?
People today come to you either because of your services or reputation or to your merchandise.
A poor communication habit can lead your company toward the loss of interest of consumers.
Loss of Possible Customers?
Poor Communication has the capacity of taking back the people of you who have not even begun buying from you.
When new folks knock on your door and feel ignored and unimportant, you have high chances to lose them before they could reach your pockets.
Loss of Future Clients?
For example, let’s say you purchased a telephone and faced a lot of problems with it.
Although you successfully returned and got your money refunded back, but now, if anyone comes and ask me about buying that telephone.
Bad News – Channel of Delivery?
That is what happens at a business one furious client isn’t merely one customer, but it stops more to reach you.
- Product Development:
Research and Development?
Many people in business make this mistake of thinking that the Research & Development section of the company may help them in creating the very best and unique products/services.
Customers versus Competition?
It can help you in creating the product for you.
Nonetheless, it’s your customers just who can assist you in making it the best and unique than your competitors are providing.
Their feedback, their views, their expectations will be able to help you in your actual product growth, and for this, you want a suitable and interactive communication channel which can help your customers to talk out loud and honestly.
When you are developing a new product or trying to upgrade an existing one, you want to have a proper communication channel between you and your customers.
It helps you in receiving accurate input that can lead to active market research to your company.
Loss of Reputation?
More sales need more purchases by clients, and here the use of standing comes into position.
If we discuss soft drinks the first name comes to your mind is “Coca-Cola”.
If toothpaste than “Colgate” and can you recall that red-colored “Kissin Jam” Bottle?
This is what we call a Reputation.
When your title starts signifying your business, then your company becomes a Brand.
Your brand is your standing and reputation is a magnet for the business that may easily pull customers.
Loss of Workers?
A customer is coming to you using a confusion related to a product, coming to your customer support section.
The client begins by thinking about why they cannot instruct their people correctly.
This happens when an employee is all new.
For once it is alright but supposes every time you are employing new people educating them, and after a few months, they’re flying off.
So, correct communication can help you in building a secure connection between the business and its employees, which ultimately saves the cash of this company which earlier was getting spent in hiring and training new people every month.
This helps in building a robust and interactive customer support department of your company.
Last but not least – Profit.
Your poor communication either it’s with your employees, your customers, your partners or anyone will continuously build a glass wall between you and them which will directly or indirectly affect your profit.
So, anything which is hampering it should be checked carefully.
These were some of those points where you can observe the adverse impact of dismissing communication.
From the employees to your clients, within your business or out of it, the connection is anywhere.
Louis V. Gerstner, Jr. Put it best
“It’s about communication. It’s about honesty. It’s about treating people in the organization as deserving to know the facts.
- You do not attempt to give them half the story.
- You do not try to hide the story.
- You treat them as true equals, and you speak, and you communicate and speak in that manner.
Communication word is derived from the Latin word communism’ so to take part to share.
Communication isn’t anything else which sharing of ideas, knowledge, view, feelings, attitude or a truth.
So, how can you even imagine your company running without proper communication?
After all, it consists of the most valuable asset- The Individual Asset.
Even though quite a few techniques are becoming used in the corporate world to remove this pitfall from their businesses called communication gaps.
Techniques like Management Information System (MIS), Corporate Information System (CIS), and Decision Support System (DSS) are helping the corporate world avoid the outcomes of terrible communication presence in business.