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Illustrate the factors that a business needs to consider when communicating with its various stakeholders. - Leaving Cert Business - Question B - 2021
Question B
Illustrate the factors that a business needs to consider when communicating with its various stakeholders.
Worked Solution & Example Answer:Illustrate the factors that a business needs to consider when communicating with its various stakeholders. - Leaving Cert Business - Question B - 2021
Step 1
Appropriate Language/Clarity
Answer
The language used must be suitable for the audience; if it is too technical or complex, the message can be misinterpreted. Businesses should tailor the language and format of the message according to the audience's level of understanding. For example, when communicating with customers, it's beneficial to use simpler sentences and visual aids if necessary, such as diagrams or flat packs.
Step 2
Confidentiality/Safety
Answer
The medium of communication should be chosen carefully based on the sensitivity of the information shared. For sensitive messages, such as terminating an employee, a face-to-face meeting may be more appropriate than an impersonal email. Ensuring confidentiality and safety in message delivery is paramount.
Step 3
Cost
Answer
The expenses associated with communication can be significant. Businesses must consider the cost involved in different methods of communication. For instance, a CEO might choose to hold a virtual meeting instead of traveling, which would help in cutting down travel and accommodation expenses.
Step 4
Step 5
Feedback/Accuracy/Record
Answer
It is important for businesses to establish a feedback mechanism to ensure that the message has been received and understood correctly. The use of emails may allow for a record of communication, which is essential for tracking and accountability. Feedback helps identify areas that may need further clarification and addresses any concerns raised by stakeholders.
Step 6
Communication Skills of the Receiver/Ability to Respond
Answer
Finally, businesses must also consider the communication skills and responsiveness of their audience. Tailoring the message to ensure that it aligns with the receiver's ability to understand and respond effectively will enhance communication efficacy.