Managing communication, knowledge & information

Individual assignment

Letter of transmittal

12/A/1 Alapalawala Handessa 03/01/2013

Mrs Niluka Samarakoon ICBT Kandy Campus 398, Peradeniya Road Kandy,

Dear Mrs Niluka Samarakoon,

This Essay was written in order to identify Importance of managing knowledge and information for a successful business. Additionally in this portfolio, I have analyzed Importance of managing communication for a successful business. Main goal is to identify and justify that above mentioned topics are true and essential for a business. Not only theoretically but also practically it has proven.

Sincerely Iranga Samarakoon BM 25

Managing communication, knowledge & information

Individual assignment

Abstract
Range of decisions to be taken Information and knowledge needed to effective decision taking Internal and external sources of decision making Recommendation for improvement Stakeholders Networking and developing business relationships Strategies for improvement

Managing communication, knowledge & information

Individual assignment

Acknowledgement
I would like to express my special thanks of gratitude to my teacher Mrs Niluka Samarakoon as well as production manager of S.S.D Lanka Pvt(Ltd) Who gave me the golden opportunity to do this wonderful project on the topic Importance of managing knowledge and information for a successful business, Which also helped me in doing a lot of Research and i came to know about so many new things. I am really thankful to them. Secondly i would also like to thank my parents and friends who helped me a lot in finishing this project within the limited time. I am making this project not only for marks but to also increase my knowledge. THANKS AGAIN TO ALL WHO HELPED ME.

Managing communication, knowledge & information

Individual assignment

ESSAY

Importance of managing knowledge and information for a successful business

Success of a business depends on the information that business going to use and the decisions that going to take using that information. Businesses use information In order to identify the market, customers, SWOT analysis, etc. Organizations use reliable information. Information can improve decision making and be developed in to a viable qualifications for organizations. In order to make proper decisions, it is important to use accurate and reliable information. Not only information but also knowledge also essential to make effective decisions. When it gets to decisions there are three main decision types. Such as operational decisions, tactical decisions, strategic decisions. Decisions are different to organization to organization. Even different teams in a same organization have different needs of information. Usually firms make decision such as, to increase sales, to increase production, to improve quality of product, to improve marketing. Not only decisions like this but also decisions like cost cutting, decrease cost, has to made. When making these kinds of decisions it is very important to have proper knowledge.

Decision like improving sales, in order make this decision, first organization should gather necessary information about it. it is essential that these information is reliable and relevant. Therefore the company should go through their previous records about sales. Company should not take data to make decisions. They should consider processed data, which is information. The Oxford English Dictionary defines information as Knowledge communicated concerning some particular fact, subject or event; of which one is apprised or told; intelligence, news. The information types are depends on the decision type. If its strategic decision, company should consider studies such as demographics, government policies. Knowledge and information need to make decision is different from each decision type.

Managing communication, knowledge & information

Individual assignment

And also the company should seek information from the media, competitors, market. After gathering information from necessary parties, company be able to make the decision. But also when it get to decision, the party (Which is management) who making this decision should have proper knowledge about it. They must have experience about decision-making. And also able to identify and filter the necessary information relevant to their decision. When it gets to information it divides into two parts. As internal information and external information. In order to construct a decision companies use both information. All organizations generate a substantial amount of information about their operation. This internal information is vital to the successful management of the organization. The information available from a number of sources within the organization.

And as examples marketing and sales information on performance, revenues, markets shares, distribution channels. And also Production and operational information on assets, quality, standards. These are the internal information. And when it gets to external information, An external source of information concerned with what is happening beyond the boundaries of the organization. This covers any documentation relating to a subject area produced as a summary or detailed report by an agency external to an organization. Such information may obtainable from government agencies or private information providers. And as examples the Internet, trade journals, computer users' yearbook, telephone directories. Whenever a company makes a

decision they consider both information sources. Or it may depend on the decision type.

Managing communication, knowledge & information

Individual assignment

Grouping doesnt necessarily find a reasonable coming to making decisions.

We need to

translate how people make decisions and what part assemblage and accumulation clever remark in that impact. Organizations require information generally to planning, monitoring and controlling, performance measurement. And when it gets to quality of internal information comparing to external information is higher. And also reliability also higher in internal information than external information. Stakeholders contribute for decision-making process within an organization. Decision making can regarded as the mental processes resulting in the selection of a course of action among several alternatives. Every decision-making process produces a final choice. The output is an action or an opinion of choice. And when it get to stakeholders each and every organization have few stakeholders.

Such as Government, Employees, Customers, Suppliers, Creditors, Community, Trade Unions... Etc. these stakeholders can divided into two parties. As primary and secondary. Party which has direct influence for the business is primary stakeholders. And the party that have indirect influence is the secondary stakeholders. When it gets to decision-making, identifying the

stakeholders is very important. As example decision like increasing production. Before taking decision like this, business should consider about the stakeholders too. If there's any government regulations related to increasing production. And also the employees. Due to the new increase in production will their salary increase, will responsibilities increase. Each and every stakeholder does different roles about the decisions taken by the business. And also making this sort of decision, as stakeholder customers also plays a reasonable role. Even if the business increases the production if there are no consumers, company will get a loss.

Managing communication, knowledge & information

Individual assignment

To avoid these matters business should keep up proper contact with stakeholders. In order to maintain contact business should build two-way communication. There are many ways to do effective communication. And the purpose of the communication is to give information, to persuade, to make sure understanding. There are few ways of communicating. Such as face to face, interactive, static personal, static not personal. These fall in to two main two parts as online and offline. But the richness of the message falls down when moving face to face (real-time) to offline. The methods that use for communicate with stakeholders are different from stakeholder to stakeholder. And as well this communication could be happened in individually or group. For internal stakeholders company use meetings, letters, reports, intranet, posters, notes, intercom. Business should select the proper communication system.

Considering the stakeholder and the method. If it's an employee, they can use notes, poster. But if its manager they must use email or telephone. Basically business be supposed to consider about the facts like, complexity, confidentiality, cost when sending a message. And there are some noises for the communication too. Such as physical noise (passing traffic) ,technical noise, psychological noise(anger, tiredness). To maintain proper relationship with stakeholders, There are formal ways and informal ways to communicate. By maintaining proper relationship with stakeholders, it makes decision-making process easier and accurate. By managing communication with stakeholders, stakeholders are aware that they are valued.

Managing communication, knowledge & information

Individual assignment

Information should always gather for specific purpose, which is to improve the effectiveness in decision taking. In order to improve the quality of the information organization should follow proper methods to collect information. Organizations have unlimited access to information. But all the information is not necessary for organization. And when gathering external information cost could be higher. But in order to obtain accurate information about external stakeholders, company should gather primary data and process it and get information. To communicate with internal stakeholders, by improving personal networking organization decision-making process will be more efficient. Networking is one of the most beneficial ways for people to help each other. Organizations should use formal networking as much as possible. Important relationships such as with suppliers are most essential for the organization.

Organization can maintain a proper relationship with supplier by paying on time, sharing Information, providing adequate lead times. By setting stakeholder network organization can identify the necessaries and able to act according to it. Tasks like, when to send newsletters, to whom to send newsletters, when to call meetings, will be more accurate. For these, communication barriers can appear in any time. Such as technical errors can occur any time. Organization should prepare for those events. Because technology is essential part of business organization. Most of the organizations use Information Technology to store and process data, information. if there is any errors with technology it could directly affect the decision-making process. It is very important to keep IT systems ongoing continuously. And also when organizations calling up meetings, conferences, they should keep relevant parties motivated to get most participants. So the Use of Information in Decision Making in crucial in business organization.

Managing communication, knowledge & information

Individual assignment

List of references

jhigh. USING INFORMATION. Available: http://www.jhigh.co.uk/Intermediate2/Using%20Information/4_sources_of_information.html. Last accessed 201211-29.

audit-commission. (15/02/2008 ). The Use of Information in Decision Making . Available: http://www.auditcommission.gov.uk/SiteCollectionDocuments/AuditCommissionReports/NationalStudies/Cranfield_Information_us e_review.pdf. Last accessed 2012-11-23.

cliffsnotes. The DecisionMaking Process. Available: http://www.cliffsnotes.com/study_guide/TheDecisionMaking-Process.topicArticleId-8944,articleId-8863.html. Last accessed 2012-11-25.

James Reason (1990). Human Error. Ashgate. ISBN 1-84014-104-2

Managing communication, knowledge & information

Individual assignment

Acknowledgment

I would like to express my special thanks of gratitude to my teacher Mrs Niluka Samarakoon as well as production manager of S.S.D Lanka Pvt(Ltd) Who gave me the golden opportunity to do this wonderful project on the topic Importance of managing knowledge and information for a successful business, Which also helped me in doing a lot of Research and I came to know about so many new things. I am really thankful to them. Secondly i would also like to thank my parents and friends who helped me a lot in finishing this project within the limited time. I am making this project not only for marks but to also increase my knowledge . THANKS AGAIN TO ALL WHO HELPED ME.

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Managing communication, knowledge & information

Individual assignment

Table of contents
ABSTRACT ................................................................................................................................. 13 INTRODUCTION ............................................................................................................................. 14 EXISTING PROCESS OF COMMUNICATION IN S.S.D LANKA (PVT) LTD ............................................ 15 Improvements to ensure greater integration of systems of communication ................................. 16 Personal plan to improve communication skills ........................................................................... 17 Recommendation .......................................................................................................................... 22

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Managing communication, knowledge & information

Individual assignment

List of tables
Table 1 ........................................................................................................................................................ 16 Table 2 ........................................................................................................................................................ 17 Table 3 ........................................................................................................................................................ 19

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Managing communication, knowledge & information

Individual assignment

Abstract
Existing process of communication in S.S.D Lanka (pvt) Ltd Ways to improve appropriateness Improvements to ensure greater integration of systems of communication Personal plan to improve communication skills

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Managing communication, knowledge & information

Individual assignment

Introduction
Communicating is the operation of intercourse the ideas, thoughts, and feelings with else people and having those ideas, thoughts, and feelings appreciated by the group we are talking with When we send we verbalize, rivet, and verify. The complexness of marketplaces and cultures as well as financial, social and ecological difficulties are putting growing requirements on companies to definitely interact with all types of stakeholders. Most company organizations are now aware of the part they have to play in the group, the surroundings and in group in common, and there is improving admiration that the connections works both ways, with categories and people having impacts on company actions themselves.

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Managing communication, knowledge & information

Individual assignment

Existing process of communication in S.S.D Lanka (pvt) Ltd

In this cap manufacturing organization they use formal and informal communication. And twoway and one way communication is established in here. This organization use different communication methods with management to employee and within management. Most of the communication methods in management to employee are informal and one way communication. If management wants to give general message to employees they use microphone system. It's very easy and fast way to communicate with employees generally. And this organization use general notice board to communicate with employees. When it gets to management, they use emails to communicate with each other departments. And also this organization has a telephone network within each department to communicate with each other. Tactical level and strategic level use these formal methods to communicate. When necessary each department use letters to communicate. Communicate to customers this organization use a website. By using this website, customers can get information about products. When it gets to external communication they use email, posters, telephone, and advertisement, to attract customers, partners and suppliers to conduct profitable business transactions.

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Managing communication, knowledge & information

Individual assignment

Improvements to ensure greater integration of systems of communication

When it gets to feasibility of these tasks, are in achievable range. For all these changes listed above, it could least cost. Since this organization is a medium scale business there is a limit of cost that they can do. But most of the modifications/ upgrades, need for this organization are in affordable range. Such as having separate notice boards for each department is not that much expensive. And these notice boards can de use for different purposes. And not only management use these boards but also employees too can use this communication method. For this

communications method there are different uses and users also. When it gets to resource feasibility, resources need for this upgrade is affordable. When it get to schedule feasibility, this modification wont take more time. Organization can install the notice boards and use it in short period. Installing extranet facility to business could be costly. Through extranet they'll get access to their branch. But since they have only one branch, it would not be efficient to have this facility. Because they are medium scale organization. Not only financially but also when it gets to operation this facility could be complicated for employees. And also it takes time to put the system to use. Generally all these changes heading for higher benefits/ profit. Because through successful communication it is going to increase the efficiency.

Jan 2013

Feb 2013 20/1 27/1 3/2 10/2 17/2 24/2

ID

Installing new notice boards Calculating the necessary notice boards and estimating price Placing the order for necessary notice boards Retrieving notice boards and installing Communicating using notice boards Evaluating/ reviewing efficiency of communication process.

Start

Finish

Duration
6/1 13/1

1 2 3 4 5

1/1/2013 1/3/2013 1/9/2013 1/15/2013 2/21/2013

1/3/2013 1/9/2013 1/15/2013 2/21/2013 2/28/2013

3d 5d 5d 28d 6d

Table 1

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Managing communication, knowledge & information

Individual assignment

Personal plan to improve communication skills

In this business production manager take part in a key role. He is the person who responsible for production. He carries out many tasks. Purchasing production material, capacity planning, product design.. Etc. in order to make these tasks efficient he has to use proper communication with necessary parties.

COMMUNICATION SKILLS Questionnaire Weak: W Good: G Excellent: E Average: A

Position : Production manager

Langue fluency :

Understandability: G Verbal clarity: Presenting: Nonverbal skills: Hand writing: Arguing: G A G E G

Negotiation skill: G Express delivery : G Listening:

Table 2

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Managing communication, knowledge & information

Individual assignment

As a production manager his communication standards are in higher level. Still those skills can improved. Within his communications skills presenting can more improved. He has higher langue fluency. But it doesn't mean that it will make communication process effective. Along with that he should have higher verbal clarity. Because he deals with different type of employees, he must able to deliver the message without complexity. Or should consider the employees standard. Listening also a key part in communication. In order to respond/ communicate listening is essential. This is where two-way communication set up. For effective communication nonverbal communication also applicable. Which means he should use methods such as body langue, facial expressions, gestures, eye contact.

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Managing communication, knowledge & information

Individual assignment

ACTION PLAN OBJECTIVES TO BE SUCCESS ACHIEVED CRITERIA ACTION WHO BY WHE N IMPACT & FURTHER ACTON

Due to the increased amount of projects, there frequent present will be a to ideas

Increased personal confidence in presenting in and presentations meetings

Arrange practice Productio Within He sessions n 4 month s

can

present

more

clearly and professionally and he will receive

Ensure feedback manager after meetings / presentations to ensure continuous improvements

need

feedback to confirm that his ideas and have

persuasively, both in meetings formal and in

recommendations been effectively.

presented

presentations

to ensure that findings are clearly understood by the audience.

Table 3 In above action plan, it has mentioned how hes going to improve his presentation skills.

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Managing communication, knowledge & information

Individual assignment

To identify his Goals and objectives, he can use SWOT analysis.

Building on strengths Professional knowledge about business Work experience Determination Langue fluency Financial stability Reputation in organization Multiple language fluency creativity

Minimizing weaknesses Average presentation skill Time pressure causes stress

Seizing opportunities To develop self confidence Increase the profit To increase benefits Upper management vacancies

Counteracting threats Communication barriers Rivals in management

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Managing communication, knowledge & information

Individual assignment

An effective way to set objectives is to follow the well-known acronym SMART.

Specific, To improve presentation skills to make communication process more efficient in workplace. (To present in meetings, conferences)

Measurable, Beyond current presentation skill, going to improve presentation skills into professional level. After getting that standard, will call meeting and use presentation skills properly.

Achievable, While working he can have lessons, practice lessons about presentation. These goals are in achievable range.

Realistic To ensure that presentation skills will improved can compare current presenting skills and after improving skills. ( can ask audience to evaluate present skills and after improvement.)

Time scaled Within four months, will improve presentation skills.

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Managing communication, knowledge & information

Individual assignment

Recommendation
When it gets to efficiency of general notice board, it is in very low stage. Because each and every department should have separate notice board. When using general notice board some employees are unable to use it. Each department is in different places and every employee unable to see the general notice board. If the organization use different notice boards for specific department, communication process will be more efficient. The microphone system that this organization uses is efficient. But they don't have the option that, if they wants to give a message to employees in specific department they have to announce it generally. But Still it is an efficient and fast way to communicate. If organization upgrades the technology, they can deliver the message to specific department. This organization use intranet facility. But with that they are not able to connect with their nearby branch. Instead of intranet organization should use extranet. It will make communication process more efficient and proper. In this organizations website they have mentioned about their products. But they haven't mentioned about price range. This may reduce the customers attitude to make purchases. And written methods of communication have disadvantages. the main part of inscribed communication is that there is no way of informed whether the message has received and interpreted by the necessary party

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