Managing Business Communications, Knowledge and Information

Running Head: BUSINESS MANAGEMENT

Managing Communications, Knowledge and Information

 [Name of the writer]

[Name of the institution]

Table of Contents

Executive Summary        

Introduction        

Answer-1.1        

Decision Making        

Major Decisions to be taken        

Decisions as Finance Manager        

Answer-1.2        

Gathering Information and Knowledge        

Assessing Information for Global Growth        

As a Finance Manager        

Answer-1.3        

Internal and External Sources        

Formal and Informal Sources        

Answer-2.1        

Stakeholders        

Stakeholders for Sterling Corporation        

Answer-2.2        

Stakeholders for Funding        

Developing Business Relations        

Answer-2.3        

Involving Others in Decision Making        

Answer-3.1        

Existing Communication Processes        

Medium of Communication        

Answer-3.2        

Answer-3.3        

Step-1 Problem Identification and its Causes        

Step-2 Finding and Implementing Solutions        

Answer-3.4        

Evaluating Personal Communication        

Personal Plan        

Answer-4.1        

Answer-4.2        

Answer-4.3        

Conclusion        

References        

Executive Summary

The report analyses four main sections related with managing communications, knowledge and information in an organisation. The first section of the report covers the understanding of assessing knowledge and information needs. It discusses range of decisions that I’ve taken as a Finance Manager of Sterling Construction in order to expand the business globally. It further looks into the assessment of information required for the growth purpose. For these purpose internal, external, formal and informal techniques of assessing information have been analyzed. The second part of this report is in regards with creating strategies for effective networking to assist decision making process. In this section, both internal and external stakeholders have been identified that are critical for the decision-making process. Similarly, it also discusses about developing business relations via different techniques in order to acquire much-needed investment needed for the company. Third section draws attention towards developing communication processes within an organisation. This section defines the existing communication processes used by an organisation as well as designing and implementation techniques for better integration of the communication process. A personal plan has also been made to improve my own communication skills. The final section is related with the existing systems and approaches to collect, format, store and disseminate information and knowledge. It also provides IT related strategies to improve access to systems of information and knowledge.

Managing Communications, Knowledge and Information

Introduction

Communication is a way to share the thoughts, feelings, information and ideas with others. Also to have those thoughts, feelings, information and ideas understood by them. Organisational communication is essential for any business. It lays the foundation for nurturing and grooming the atmosphere of an organisation.  The effective communication leads to clarity, collaboration and effective relationships within an organisation which leads to fulfilment of organisational goals. Therefore, effective communication is always linked to the success of the organisation. An organisation’s survival as well as its reputation depends on its ability to communicate with its employees and other stakeholders. Similarly information and knowledge is vital for any organisation as it provides with the basic ingredients for any rational decision-making (Shulman, 1984, p. 206).

Answer-1.1

Decision Making

A business always looks to generate value for it owners, costumers as well as other stakeholders. Therefore it is vital to decide on how to integrate and combine valuable resources that are building, material, equipments, people and most importantly knowledge. For fulfilling business goals, it has to make decisions at all levels (Anonymous, 2000, p.34). Sterling Construction is right now operating successfully domestically with their products ranging from construction of highways, bridges, roads, and light railways while diversifying into construction of waterways and water infrastructure is also being considered. They are now the national market leader in USA and all of their achievements have been made possible through successful business strategy (SCC, 2013, p. n.d). This successful business strategy comes from effective decision making from the management of the company.