Photo AI
A Chief Financial Officer (CFO) in a business needs exceptional communication skills and needs to adapt his/her communication style and message to different stakeholders - Leaving Cert Business - Question 4 A - 2019
Question 4 A
A Chief Financial Officer (CFO) in a business needs exceptional communication skills and needs to adapt his/her communication style and message to different stakehol... show full transcript
Worked Solution & Example Answer:A Chief Financial Officer (CFO) in a business needs exceptional communication skills and needs to adapt his/her communication style and message to different stakeholders - Leaving Cert Business - Question 4 A - 2019
Step 1
Discuss the importance for a business of effective communication.
Answer
Effective communication is crucial for a business for several reasons:
-
Productivity Increases: When instructions are clear, employees understand their tasks better, leading to improved productivity. Effective communication ensures that deadlines and expectations are well understood.
-
Improved Interpersonal Relations: Clear communication fosters a respectful environment where individuals feel valued. This openness encourages team collaboration, reducing workplace conflicts.
-
Innovation and Entrepreneurship: By sharing ideas effectively, businesses can motivate employees to contribute creatively, resulting in new initiatives and solutions.
-
Collaboration and Team Approaches: In modern workplaces, effective communication is key to team projects. Employees need to be able to communicate objectives and updates easily to work collectively and effectively.
-
Grievance Processes: A well-established communication process helps to handle grievances. Employees should feel comfortable voicing concerns, leading to quicker resolutions and a healthier work environment.
-
Better Decision Making: Effective communication enables managers to relay necessary information that supports informed decision-making within teams.
Step 2
Illustrate two barriers that a manager has to overcome to communicate effectively with staff, providing a different example in each case.
Answer
-
Language Barriers: Managers often face challenges due to the use of jargon or technical terms that may not be easily understood by all staff members. For instance, if a finance manager discusses complex financial concepts using industry-specific language, employees from non-financial backgrounds might find it difficult to grasp the information. In this case, the manager should simplify the language and use clear, straightforward terms to ensure comprehension.
-
Timing Issues: The timing of communications can significantly affect their effectiveness. For example, if a manager sends out important updates during a busy work period without prior notice, employees may miss crucial information. To overcome this barrier, the manager should schedule communications during less hectic times or ensure messages are sent well in advance, allowing staff to better absorb the information.