Illustrate the factors that a business needs to consider when communicating with its various stakeholders. - Leaving Cert Business - Question 8 - 2021
Question 8
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 8 - 2021
Step 1
Appropriate Language/Clarity
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Answer
When communicating with stakeholders, it's essential to use language that matches their understanding. If the language is too technical or difficult, the message may be misinterpreted. For instance, short clear sentences and visual supports can enhance comprehension, especially in product descriptions, e.g., flat packs.
Step 2
Confidentiality/Safety
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Answer
The medium chosen for communication must align with the message's sensitivity. For example, if the content is of a delicate nature, such as terminating an employee's contract, using a more private method like a formal letter would be advisable over an email.
Step 3
Cost
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Answer
The financial implications of the communication process are significant. A CEO, for example, might opt for a virtual meeting to minimize travel costs associated with in-person meetings.
Step 4
Urgency/Speed/Destination
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Answer
If immediate information needs to be communicated, selecting the right medium is critical. For urgent matters, a phone call or text might be preferred over an email to ensure instant communication.
Step 5
Feedback/Accuracy/Record
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Answer
The business should actively seek feedback from stakeholders to improve communication. Retaining documentation of correspondence and review records can provide valuable insights for future interactions.
Step 6
Communication Skills of the Receiver/Ability to Respond
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Answer
It’s also important to consider the receiver's communication skills and their ability to respond appropriately. Effective communication thrives on understanding between parties, and both sender and receiver should possess the skills to engage constructively.
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