Managing Communications Knowledge and Information

Managing Communications Knowledge and Information

MANAGING COMMUNICATIONS, KNOWLEDGE AND INFORMATION ASSIGNMENT

Communication Process
at M Limited and Deutsche Bank

Executive Summary

This report is based on the communication
process at L Limited.

The company is well established real estate Development
Company and is known for its perfect complete solution for home construction.

The report will cover the information and knowledge needs of the organization, different approaches to management and leadership, decision making process, developing communication process and improving systems relating to information and knowledge.

HND Assignments

Introduction

M Limited is a real
estate development company which provides end to end solutions in relation to
designing, financing and construction of homes. The company possesses the right
to use or can lease a part of property for long term depending on the type of
investment being made (Somes, et.al., 2014). It has four departments namely
Admin & HR, Finance, Procurements and Projects and each of them have
specific roles and functions. Admin & HR department looks after the
administration and human resource of the company. Finance department held
responsible for reserving funds and timely payments. Projects and Procurements
look after type of staff they require depending on the nature and number of
developments. The company maintains its revenue and enjoyed steady growth of
profits.

Task
1

1.1 Range of Decisions to be taken within the
Organization

The decision that higher
management of company M have to take to choose one option out of two may range
from setting of goals and objectives for their entire business enterprise
considering long term benefits and growth of their company. M Limited should go
for development of real estate market and explore the option of purchasing land
so that the company can develop luxury condominiums for the purpose of lease or
sale (Schaper, et. al., 2014). For this, company should focus on strategic
decisions, tactical decisions and operational decisions in relation to the
option chosen. The higher management should develop strategy which in turn
results in the speedy development of real estate market. Additionally, the company
should develop some tactics, divisional plans and structuring workflows to
convert the land into luxurious and attractive building complex.  As the company is into real estate business, the
business can easily enhance their relationships with existing stakeholders and
can earn profits by selling or leasing the developed building complex.

In
addition to above, lots of decisions are taken on below areas for its effective
operation,

smooth functioning
and running of the business.

Resource Management: The Company’s makes a lot of decisions on resource management when multiple projects are been carried out. Decisions such as project priority, budget allocation etc. These are tactical decisions, at times it can be semi structured or unstructured as well depending on the project. If a new or if a different kind of a project then some decisions may have to be unstructured.

Eg; allocating resources to renovate an old
building. This can be structured as this is being

done always so most of it would be aware and
well known, but in case of buying a land and the constructing a building can be
different as the resort owners may have different requirements.

Staff Recruitment: this is an operational level decision and depending
on the job requirement it can either be structured or unstructured. When
recruiting decisions are made after the interviews and the most reliable
candidate is selected based on the knowledge, experience, qualification and
skills.

Choosing Suppliers & Vendors: This is done in daily operation suppliers and
vendors will be selected based on the work requirement. This can be structured
or semi structured as it is an operational decision. In order to make a
decision the available vendors and suppliers must be evaluated and then
decided.

1.2 The Information and Knowledge Needed to
Ensure Effective Decision Making

The
knowledge and information which is being needed to ensure successful decision
making is that M Ltd should analyse and observe beforehand that to what extent
it is beneficial for it to purchase the land from Male and Hulhumale. In
addition to this, M Ltd should also identify market conditions prevailing there
with regard to real estate and analyse customer tastes and preferences and then
develop luxury condominiums and complexes so that it would be easy to sell them
or to give them on lease (Hohenthal, et. al., 2014).  

Moreover,
different information and knowledge are required at different levels in order
to ensure effective decision making.  At
strategic level, profitability, sales, market competitors and many more are
required. On the basis of such information, M Ltd’s top management can frame
aims and objectives beneficial for effective decision making. Explicit
information is required to ensure that decision taken is going to be fruitful
in future.  With explicit knowledge and
information every piece of information is required to be expressed in clear
terms without any assumption. Such information is required to be delegated from
top management to lower management in a precise and accurate manner so that
every employee is clear and is having same consensus.  At tactical level, internal information is
useful for M ltd like delivery of goods, work progress, use of resources and
many more which are contributing factor effective decision making. At
operational level, employees working condition, daily wages, daily production
and many more, on the basis of which decision is being taken. In all, both
qualitative and quantitative information are required at different level of
information and knowledge for effective decision making.

The different
information and knowledge needs within the organization

Information and
knowledge required are different at different levels in an organization.

Strategic Level:  Here, information such as forecasts, sales growth,
profitability, market share, revenue growth etc. will be required. These are brief
information prepared only when required which will be used by directors and
senior management to plan out the corporate objectives, business objectives or
to build up strategies of the organization. Qualitative information are
considered in decision making but quantitative information plays a more vital
role in the final decision making, such as investment costs, customer additions
& revenue gains

Tactical Level: Here mostly the information source would be
internal. These reports or information would be required regularly for
instance, weekly, monthly or quarterly. The information required would be how
resources are used, progress of the work, customer satisfaction level etc. This
information is used by middle management to set directions, controlling and
planning. Mostly these are also summarized information but sufficient for
resource allocation and planning

Operational Level: Required for operational decisions. Which are
collected more frequently on a daily basis or weekly basis, which are detailed
and gathered internally, information such as work place incidents, daily cost
for the labors etc. These information are used by front line managers for
effective daily operations can be in the form of quantitative and qualitative
as well.

Managing changes in
information & knowledge needs over time

Information and knowledge needs of an
organization may change over a period of time and may change due to multiple
reasons such as change in the management, change in the organizational
strategies, change in the market behaviour and change in the organizational
policies etc.

To ensure smooth operation it is crucial for
the organization to ensure proper communication is made to all staff, as most
of the time changes are hard to accept and follow. And also due due to certain
changes there can be new requirements which needs to be fulfilled in order to
entertain the change, like man power, new requirement for systems or tools etc.

1.3 Assess the Internal & External Sources of Information and understanding

For
the purpose of making effective decision making, it is imperative to analyse
the reliable internal and external sources of information which plays a
significant role for decision making of M Ltd. The internal sources of
information in relation to M company which deals in real estate sector are the
company’s secrets, strategy formulation, revenue generation, marketing of their
lands and complexes, purchasing and sales of land and buildings, number of
personnel working, new developments, administration, financial stability and
many more (Alvarez, 2016).

The
external sources of the information with regard to M Ltd are existing
stakeholders, market conditions of the real estate, dependency on third
parties, competitors in the markets, company goodwill and reputation in real
estate sector and many more.

As
far as the value and quality of internal and external sources are concerned in
relation to M ltd, internal sources are the 
sources and the information which is available within the organisation
hence the reliability, trust and quality of such information is much better
than external sources.  For M ltd,
collecting internal and external source of information is a costly affair as it
involves time, resources and money but as all the processes are in place so the
piece of information being collected is accurate, useful and reliable.

Value & quality of internal & external
sources:

Internal sources of information are information is available internally within the
organization, internal surveys, expense and revenue, staff attendance. Strategy
formulation etc.

External
information are information available externally and sources can be media,
website,

advertisements,
government and consultants. External information can be formal or informal.

Formal
are company advertisements, website, published documents / reports, press
statements & press releases. Information retrieved from media and other
websites are informal sources.

Internal
sources are more dependable than external sources of information as the
information is provided by the organization itself and are information
available within the organization. Similarly formal external sources are more
reliable than the external informal sources as formal sources are also made
available from the organization. The value and quality of internal &
external formal sources are better compared to external informal sources due to
originality, reliability and trust issues as external information can be
manipulated by these external sources.

Cost of gathering information & processes to
gather information

Since information gathering requires
resources it is costly.

Information gathering requires;

Time: Information collection takes time, whether
it is collected through a system, survey

Research or via any method

Money: There is a money value involved as there is
a cost to get these things done. In order to obtain the required materials to
get the job done.

Resources (human/system etc.): Resources are required
to collect the information either through systems, tools & applications or
via manpower.

1.4 Recommendations for Improvement

There are various recommendations for
improvement being provided to the company should develop and implement
effective strategies in order to achieve its set goals and objective in an
efficient manner. M ltd should have involved a large number of employees or
workforce for speedy and accurate development of real estate and can explore
various options of purchasing land at very reasonable prices (Sharp and
Brumberger, 2013). Also the company should develop and enhance their
relationships with the existing stakeholders which in turn results in increase
in market share and profitability. In addition to this it is also suggested
that M ltd. should have advance technology and updated information systems so
that it is easily accessible to clients and suppliers which in turn result in
getting more clients in less time. Timely meeting with existing stakeholders
should be organised so that the views and opinions can be shared in effective
development of luxurious apartments as well as it also strengthens the
relationship between company and stakeholders as such groups feel important
being the part of such effective decision making.

M1 Strategies to find appropriate solutions

There
are strategies which can be identified and applied for finding appropriate
solutions. Motivation of the employees is one of the best strategies due to
which company M can keep on doing continuous and quicker development of real
estate. Advertisement and marketing of the luxurious condominiums in a timely
manner and providing attractive deals and offers to customers, stakeholders and
suppliers result in the expansion of business in an efficient manner (Posse et.
al., 2015). Advanced technologies and amenities to the clients and delivering
new information through online portal and website to the clients, customers and
stakeholders. Building the trust by fulfilling the commitments resulted in
increase in business which in turn resulted in enhancing the sales or lease of
the property. In addition to this, an efficient IT workforce for handling the
queries of the clients and address them in a timely manner.

There are strategies
which can be identified and applied for finding appropriate solutions.

Motivation
of the employees
:  is one of the best strategies due to which
company M can keep on doing continuous and quicker development of real estate.

Advertisement
and marketing
:
of the luxurious condominiums in a timely manner and providing attractive deals
and offers to customers, stakeholders and suppliers result in the expansion of
business in an efficient manner (Posse et. al., 2015).

Advanced
technologies and amenities:
to the clients and delivering new information through online portal and
website to the clients, customers and stakeholders.

Building
the trust:
by
fulfilling the commitments resulted in increase in business which in turn
resulted in enhancing the sales or lease of the property. In addition to this,
an efficient IT workforce for handling the queries of the clients and address
them in a timely manner.

Task
2

2.1 Identify stakeholders for decision making
process.

As
company M decided to invest in guest house market which is considered as the
new venture apart from their existing business, it is imperative for company to
develop a five step decision making process as well as to identify the
stakeholders for the execution of the decision. With regard to five step
decision making process,

 Company has to first establish their aims and
objective, and then they have to define the problem and have to identify the
alternative course of action (Possee, et. al., 2015). After analysing the
alternative course of action, they have to evaluate the best course of action
and finally company has to implement and monitor its decision.

The
internal stakeholders who can be identified with regard to the guest house
business of M company are employees that will be working within the guest house
are top management, operational staff, line managers, functional head and many
more. The external stakeholders are new investors, government, new customers,
property brokers, land owners, housing finance institutions, regulators and
many more (Mitchell, et.al., 2016).

Both
internal and external stakeholders of M ltd play an important role in the
effective decision making of company. Top management, line managers,
operational staff and functional head will set strategic goals and make decisions
which would be flowing such decisions to lower management which will carry out
those decisions. External stakeholders like regulators, government and
customers will give their general views and will approve such decision in
relation to laws, rules and regulations.

Stakeholders
are important to an organization as they play a key role in decision making
process.

Top Management Key people of the organization who sets direction and strategic goals.
They are final decision takers of the organization
Line Managers Important in decision making because they are the next layer who would
pass the decisions to the lower staff for execution, hence their cooperation
and buy in is very important to sell the ideas to the lower level staff and
for execution
Function Heads They drives the team, important in
decision making because they are the next layer who would pass the decisions
to the lower staff for execution, hence their cooperation and buy in is very
important to sell the ideas to the lower level staff and for execution
Operational Staff They
are important, as they will be executing and carrying out these tasks in
order to achieve the desired results. Hence they have direct feedback from
the customers/suppliers etc. and these feedback (qualitative information)
will
be very important during
decision making.
Regulators Regulators are the
regulatory body of the industry who sets rules and regulations hence when
making a decision we will always have to consider their feedback and their
say.
Government
 
Is
also important as laws are passed by the government and certain
policies and procedures may require to change due to government enforced laws
and regulations
General Public
 
Must always consider the views
of general public, as taking a step against the public may impact the
business negatively ruining the image, business growth etc.
Customers
 
The most important part
of the business, without them the business is not successful. Hence always
must ensure customer satisfaction in all decisions that are made
Suppliers
 
Are important they help us to
achieve our goals by providing the required products & services which are
required to run the business, like construction materials, heavy vehicles
etc.
Financial Institutes
 
banks, finance
leasing companies are
Important as they
would be the ones to obtain financial assistance when required. Eg; long
term loans, credit
policies

2.2 Making Contact & Developing Business
Relationships

After identifying
and analysing stakeholders, it is imperative for the M company to make contact
and develop business relationships with stakeholders. For making contact or
communicating effectively with stakeholders, company M can arrange monthly and
quarterly meetings, can do conference calls by keeping in loop each and every stakeholder.
Moreover, newsletters can be provided and emails, monthly magazines and annual
reports can be sent, which include the developments and progress made by the
company (Coffing, et. al., 2017). Company can develop business relationships
with their stakeholders by sharing the vision, mission goals and objectives of
company.

For
the purpose of creating two way relationships with one internal stakeholder
i.e. employees, company M needs to provide every new update to its employees so
that employee can work effectively by including those updates in day to day
activity which is beneficial for employee and company’s performance. Additionally,
they should develop some employee centric policies like rewards and
recognition, flexibility which will keep them encouraged and motivated which in
turn fruitful for company’s growth.

 For creating two way relationships with one external
stakeholder i.e. government, for every new decision being taken government or
regulators should be informed in timely manner which in turn develop a level of
transparency being maintained with external stakeholders and easy approval of
such decisions.

2.3 Involved those identified in the decision
making as appropriate

After
analysing internal and external stakeholders, it is necessary to involve
internal and external stakeholders who are considered as appropriate for
decision making process in relation to the launch and development of guest
house market. As far as internal stakeholders are concerned, employees are
involved in the decision-making process. In order to involve them effectively,
M ltd should make them aware about company’s vision, mission, goals and
objectives. Company should arrange the meetings with employees from time to
time to involve them in decision making process and design some strategies and
policies to involve maximum employees and make them feel the importance of
their involvement in decision making process. With regard to external
stakeholders, investors are involved in the decision making as such
participants can invest their money in company’s guest house business and can
result in business expansion. Taking financial aid from Government and various
housing financial institutions for guest house venture will involve such
external stakeholders in decision making process. Additionally, property
brokers or land owners can participate in decision making process as they help
in providing discounts or attractive offers for the land required by the company
to construct guest house.

2.4 Strategies for improvement

Being
an employee of Company M, I have implemented various strategies for improving
my networking skills and to build relationship with stakeholders. For the
purpose of improving my networking skills I started reaching out people through
the way of video conferencing, teleconferencing, emails and other online
mediums so that I can give and take advice and can gain plentiful business
opportunities. These personal networking tools are very helpful for improving
stakeholder relationships by dealing with them politely and with due respect.

In
addition to improving networking skills, I started developing relationships
with stakeholders by incorporating strategies through the way of arranging
well-structured plans to engage and communicate with them (Chang, 2016). I
conducted regular or weekly meetings with stakeholders for seeking their
advice; guidance and assistance strengthen the relationship between
stakeholders and company.

Strategies for personal Improvement 

There are various
tools and strategies for improving personal networking skills and building and
maintaining stakeholder relationships. For improving my own personal networking
skills, I tried reaching people by the way of email which shows my mutual
respect and interest towards approaching them. Moreover, I use positive
language while enhancing my networking with people either meeting face to face
or communicating through call. I keep on doing follow up as it is crucial to my
networking effort (Posse, et. al., 2015). In all, networking results in building
and maintaining relationships which are honest, sincere and valuable to both
the parties. These personal networking tools are very helpful for improving
stakeholder relationships by dealing with them politely and with due respect.
Arranging weekly meeting and teleconferencing for giving and seeking advice and
suggestions. Moreover, preparing well structured plans to engage and
communicate with them gives a sense of greater likelihood which results in
bringing great opportunities for business.

D2 Responsibility for managing and organising
activities

Accountability and
responsibility of setting up and launching guest house market and managing and
organising activities with regard to it have been effectively taken. At the
very first, stakeholders are being identified and contacts are being made with
them with the aim of enhancing personal networking skills and building
relationship in a systematic, organised and effective manner. The importance
and interdependency of stakeholder and organisational relationship is being
recognised and is considered as very significant for companies and stakeholders
success. The Company can develop trust and keep their stakeholders satisfied so
that they can retain them and remain competitive in their respective market.
Giving and taking services results in increasing the likelihood that such
exchange relationship continues in future.

Task
3

3.1 Existing Processes of Communication

I have been hired
by Deutsche Bank and having the task and responsibilities of reviewing the existing
process of communication. The process of communication is consists of three
elements namely sender, message and receiver. Communicator prepares message
neatly and start the communication process. Such message is the idea came into
the mind of sender and is being transmitted to the receiver through various
methods of communication (Fall, et. al., 2013).

The process of
communication chosen in my organisation is face to face communication, oral
communication, written communication, formal communication, memo, leaflet and
many more. Moreover, one to one meetings, structured or unstructured meetings are
organised to enhance effective communication. 
Through such modes of communication, information is being perceived by
top management and being disseminated to lower management in an effective
manner by using any of the above mentioned process of communication.

Additionally, various
electronic and IT systems like email, intranet, and messenger, office communicator,
VoIP and many more are being used to a small extent.

3.2 Ways to Improve Appropriateness of
Communication

While
identifying appropriateness of information, the effectiveness of existing methods
of communication and whether it is reaching to appropriate audience, it has
been observed that the technology being opted and the softwares which are in
current use are not appropriate and need improvement as the communication or
message beings sent through emails are delayed and thus leads to delayed
decision making.

The
communication process can be improved by introducing various electronic methods
of communication like emails, weekly updates to employees through company’s
website and many more which needs to be implemented and for that innovative
technology and updated softwares are required to be put in place.

3.3 Integration of Systems of Communication

The
implementation process for suggestion for improvement mentioned in above
section 3.2 should be designed in the following manner:

  1. Innovative and advanced technology should replace the obsolete and old
    technologies for developing effective integration of systems of communication.
  2. Software in relation to email, website should be updated and reinstalled
    from time to time with the aim of improving the accuracy through effective
    electronic mode of communication.
  3. Training should be given to the employees with regard to innovative technology
    and updated software.

By implementing the above suggestions, the different
systems and processes of the communication can be integrated in the company in
an efficient manner.

The problems which might arise during
implementation and integration of systems of communication are the lack of
proper coordination, lack of knowledge, timing issues and inadequate trainings
by the trainers.

4.1 Approaches to the collection, formatting,
storage and dissemination of information and knowledge

The different IT
systems in the existing communication process for the purpose of collecting, storing
and disseminating the knowledge or information from one person to other which
is being used by the company are email, website updates and social media. Such
different types of existing IT systems in company are considered as reliable,
valid and confidential to transmit the information from one place to another
place in an efficient manner.

Email is considered
as one of the well known electric communication which gives a channel for replacing
message in the same manner traditional method does (Somes, et. al., 2014). Through
the facility of email, one employee generates a message and conveys it to
recipient or other employee and then it is being received by the person at the
other end. It is a smooth and less time-consuming process.

Another form of
electronic communication or IT systems which company using is website which has
several forms and serves as a variety of electronic communication channels.
Websites provides information to readers or people who uses and read information
on it. Through social media, employees of the company are able to communicate
messages and can get the follow up messages of the post from their friends,
family and colleagues. Such existing IT systems in company are considered as
helpful for transferring messages from one person to another person in an
efficient manner

4.2 Appropriate changes to improve the
collection, formatting storage and dissemination of information and knowledge

With the aim of
developing the changes in the existing IT systems and improving the way of
collecting, formatting, storage and disseminating of the knowledge and
information, company started using various new and improved different IT
systems which are reliable, valid and confidential. With them, one can easily
transmit information from one person to another person without any risk and
issues and they are as follows:

Through mobile
phones, employees easily convey their message either formal or informal
efficiently and effectively at the time of urgency. It is considered as the
instant messaging service which is reliable and less time consuming (Bcah, et.
al., 2013).

Moreover, employees
started involving themselves in audio conferencing and considered it as the
effective and reliable method for discussing their daily issues, tasks and
general updates. In addition to this, company started using video conferencing
facility so that sound is being transmitted to other place along with pictures
easily and meeting can be arranged irrespective of employees located at any
location. These all new and improved communications are being implied by the
company in addition to existing ones in order to maintain confidentiality and
reliability.

4.3 Strategy to Improve Access to Systems of
Information & Knowledge

For improving the entry to systems of
knowledge and information, it is imperative for the Deutsche Company to implement
the strategy in the organisations. The strategy implementation in the corporate
houses or organisations is done in such a manner that the reliable, valid and
accurate information is being transmitted to the other person effectively
within a short span of time. Company should implement change management
strategy in order to inculcate the changes in the context of information and
knowledge within the organisation in an effective and smooth manner.(Hansen,
et. al., 2009). Through different IT systems like email, websites, social
media, internet, blogs, online articles, video conferencing, audio
conferencing, webcams, mobile phones and many more are considered as
significant electronic communication tools through which access to information
and knowledge within the organisations and with its external stakeholders is
being enhanced to a significant extent. Moreover, such different IT systems will
be beneficial within Deutsche and with its external stakeholders as the flow of
information can become clear, transparent, accurate, reliable and confidential.

M3 Present and communicate appropriate
findings

With the help of
below findings in relation to improve the existing information and knowledge
systems by making use of different and advanced IT system, it is being analysed
that various advanced electronic transmission protocols it is become very
easier and convenient for organisations to convey confidential messages, formal
messages or informal messages within fraction of time with accuracy,
reliability and validity.

Task 4

3.4 Personal plan to improve your own
communication skills

 For the purpose of creating a personal plan to
develop my communication ability I have listed down step by step plan to make
my skills effective. For the purpose of improving the communication skills, the
first and foremost step is to listen to other what they are saying and to have
one conversation at one time. Before communicating, I always check to whom I am
speaking with, based on that I decide whether to speak formally or informally
(Mitchell, et. al., 2016). With regard to face to face meetings and video
conferencing it is imperative that one should have open body language and good
eye contact. The communication either written or oral should be specific and
brief and it should be done in such a manner that it should be effective and
reflect a smile as well as positive attitude. In addition to this, I always
take a pause, rethink and then speak. In this way, I tried improving my
communication skills and keeps on improving.

SWOT Analysis for
Self-Evaluation

STRENGTHS   Technical understanding Good written & verbal communication skills Coaching & Mentoring Communicating supportively Persuasive skills Managing conflict WEAKNESS
 
Avoiding confrontation Communicating assertively

OPPORTUNITIES Higher studies Chances to improve on communication skills and other skills required Broad opportunity to work in other companies due to experience and skills THREATS
New employees with higher educational qualification
 

Plan for personal improvement

Objective Methods Time Scale Monitoring review
1- To improve on
assertive communication
by the end of Dec 2017
Read articles from
internet on assertive communications
15-Oct
2017
Follow-up and
check
Apply on similar situations 20-Nov-17 Weekly follow up
self-evaluation
after applying
20-Dec-17 Compare with
previous situations
2-To improve on
confrontation by the end of Dec 2017
Read articles from internet on confrontation Weekly Follow-up and
check
Apply on similar
situations
30-Nov-17 Weekly follow up
self-evaluation after applying 15-Dec-17 Compare with
previous situations

Bender
Results

As per Bender my personality type is “expressive” and
as per the strengths I’m a good

Communicator

Below steps will be
followed to implement the plan

STEP 1 Go through the action plan that
I have put in place
STEP 2 Check if the methods mentioned
can be applied
STEP 3 Set a date to start the works as mentioned
STEP 4 Set a completion date
STEP 5 Carry on the activities as scheduled
STEP 6 Check if the methods &
activities mentioned are carried out as per the decided deadlines
STEP 7 Review the actions & results to see if I have
achieved the goals
STEP 8 Based on the findings revise
the goals if required

Conclusion

On the basis of
above discussion, it has been concluded that it is imperative to take wise and
effective decision for the success and long-term survival of the organisation. For
such effective decision to be made, both the companies have to analyse the
external as well as internal sources fruitful for such important decisions and
at the same time have to identify stakeholders and have to build strong relationship
with them. Moreover, companies and stakeholders are interdependent on each
other to a significant extent for their mutual success and long-term growth. Various
improvements are required to be done from time to time in relation to existing
process of communication, collection and dissemination of information and
knowledge. For such improvements, appropriate strategies are being implemented
and executed from time to time which in turn results in proper functioning of
the company.

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