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Old April 16th, 2013, 06:31 PM
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Join Date: Dec 2011
Default Re: Virtual University MBA Notes

The Master of Business Administration (MBA) programs offer by Virtual University.

Courses of study:

Advanced Financial Accounting
Production & Operation Management
Corporate Finance
Project Management
Crises Management
Strategic Management
Leadership & Team Management
Strategic Marketing
Special Topic
Area of Specialization (4 Courses)

Areas of Specialization::-

Banking
Finance
Human resource management
Management
Information technology
Marketing

Why study business communication?
You may say that communication is important and that you’ll be spending a lot of time doing it. But you’re
pretty good at communicating. After all you talk to people, write notes, read books, get along with
other people, and make myself understood already. Why should you study communication?”
The apparent simplicity of communication is deceptive. Just because we all communicate every day

does not make us good communicators. Just because some aspects of effective communication are
based on common sense does not mean common sense alone is enough. Skilled communicators
draw on an extensive and complex body of knowledge, including semantics (the study of word
choice), linguistics (the study of language), rhetoric (the study of writing and speaking effectively),
psychology, sociology, graphic design, and even computer science. You will explore and apply the
scholarship and research from all of these fields in your study of communication.
“Why then,” you may well ask finally, “study business communication specifically? Communication
is communication: I’ve taken plenty of English courses and communicated in every one of my

other courses.”
Good communication does, in fact, cross disciplines: correct grammar and audible speaking, for
example, are as necessary in a geography class as they are in a business communication class. There are,
however, at least five ways in which what you will learn in this class differs from what you have
learned, or will learn, in your other classes. First, the subject matter is different: here you will get a
chance to practice communicating with concepts and techniques form areas such as accounting,
finance, and marketing. Secondly the forms are also different: you will, for example, practice writing
memos, letters and business reports – not just term papers, exams and essays. Third, in this class you
will have a chance to practice your oral presentation skills, which – according to various studies –
you will probably be using extensively in the business world. Fourth, you may learn a slightly
different style: in general, business communication is more objective, systematic, and concise than
creative or personal communication. Finally, perhaps the most important difference is that . You will
learn to persuade people to accomplish your desired results.

What is communication?
I have been discussing how important communication will be for your success in business. What you might
ask, does the term communication mean? It is certainly hard to define because it has come to mean
practically anything.

Definition of Communication
The word communication means the act or process of giving or exchanging of information, signals, or
messages as by talk, gestures, or writing. Technically speaking, in the act of communication, we make
opinions, feelings, information, etc known or understood by others through speech, writing or bodily
movement.

Why do we communicate?
The purpose of any given communication may be:
a) to initiate some action;
b) to impart information, ideals attitudes, beliefs or feelings; and /or
c) to establish, acknowledge or maintain links or relations with other people.
Initiating Action
Initiating action may be achieved by two basic categories of communication.

1.3 Expressing needs and requirements. This can range from a baby’s cry – or even the bleep of an alarm clock –
to an adult’s more precious expression of needs and wants. In a business organization, it would include
briefings, instructions and procedures manuals. This will only be effective where the other person is willing

to satisfy the needs.
1.4 Persuading and motivating others to carry out the desired course of action” in other words, giving them a
reason (other than one’s own want or need) to perform that action. Persuasion of this kind is likely to be a

major element in marketing and sales: a sales up cannot simply ask a customer to buy the product because

she, the sale rep, needs a success. She must show that there are benefits to the consumer, which will make
the purchase worthwhile.
Imparting Information

1.5 Imparting information, ideas, attitudes, beliefs and feelings may have any number of specific
purposes.
a) Creating awareness
b) Creating understanding
c) Persuading others
d) Influencing others

1.6 Information gathering is a constant activity of human beings. We receive a great deal of data and
information in our daily lives, only some of which we seek or consciously absorb. Think about it: news
bulletins, books, bank statements, business information, gossip, thing people tell you, things you ask them.
This list is endless.

1.7 Remember that other people may be seeking information in the messages you ‘send’ (and in the tone of
your voice and other indications of what is ‘between the lines’). This information may or may not be
something you wish to communicate: you will need to be aware of it before your listener/reader is.
Establishing relations

1.8 Establishing, acknowledging and maintaining relations with other people is a vital function of
communication.

Importance
Communicating effectively in speaking and writing is useful in all areas of business, such as
management, technical, clerical, and social positions.
The ability to communicate well has always given advantages to those who possess it.
Communication has a rich history. The ancient world, both the East and the West, depended on oral
communication. In ancient Greece and Rome, it was necessary to communicate when dealing with matters
in assemblies and the courts. During the Medieval and Renaissance Periods, the oral tradition progressed.

As writing became more important as a permanent record of communication, authors and books on written

communication principles appeared.
So we can say that some of today’s principles of writing are a mixture of ancient oral and written
traditions.

Advantages of Communication in your Career
Your success in your career is based on your ability to do well in written and oral communication.
This ability to communicate effectively is a valuable asset for you.
If your career requires mainly mental rather than manual labour, your progress will depend on how
effectively you communicate your ideas to others who need or should receive them.
Strong communication skills are found in every job description listed by companies’ advertising
positions. Communication is a primary responsibility in many careers, such as customer relations, labour
relations, marketing personnel, public relations, sales, and teaching.
It is also required in government and non profit organizations. There skills play a major role at
every level.


Even if your work is mainly with figures, as in the accounting profession, the ability to
communicate to those who read your financial reports is necessary.

A quality for Promotion
An executive must have the ability to communicate if he wants promotion. Those who cannot
communicate effectively in either oral or written communication remain in the same positions.
Many surveys have born out the idea that effective communication is essential for success and
promotion in every field.

Communication & Global Market
The way you communicate both within and outside your own country affect everything you do.
Moreover your ability to speak and write effectively will also make a difference to your organization.
These qualities will help you to be successful in dealing with international business people.
Always remember that “To the customer, you are the company”. Your dealing with customers,
clients and the public reflects the company you represent. Important communications can make difference
to your company because each message communicates the essential quality and culture of your company
and can either build goodwill or destroy it.
Messages written to international customers and other business contacts are sensitive to the
readers. Your goodwill as well as your organization’s is at stake. So be very careful while communicating

with international people.
The ability to communicate effectively with others is repeatedly named as a top quality of a successful
businessman you as a businessman may be a very intelligent person; but if you can’t get your
message across to the other, you will be thought of as less intelligent than you are because ideas are
common, but the ability to clearly communicate ideas to others is rare.
If you are a better communicator, customers and business associates form better impression of you and
your organization. This impression is based solely upon your ability to communicate both oral and
written. Effective business message builds or retains goodwill which is a priceless commodity. Because
the exchange of written communication is vital to a businessman for promoting goodwill, the art of
producing effective correspondence will help ensure your success in business.
So, your ability to communicate is, in fact, your trademark. The memos, letters and reports you
write, demonstrate your ability, or lack of ability to communicate. Presenting yourself through your
communication will project a favourable image as well as promote successful business operators both
internally and externally.
Besides, as a businessman you are required to run the working of your organization smoothly
because you are to clearly transfer your objectives, policies, method of working etc. to the people working
with you at different levels, so this ability to communicate is very crucial for you as a businessman for basic

managerial functions.
As a businessman you will regularly plan design and control affairs to maximize your production
and minimize your cost. Your ability to communicate effectively is going to help you from the
brainstorming step to implementing the objectives that you chalk out for the promotion of your business.
Another factor that is important for a businessman to achieve the desired objectives is decision
making. Here again ability to communicate both orally and in writing helps you make the most of yourself
and your organization.

Above all else, your ability to communicate helps you in understanding human relationships. Being an
effective communicator you can interact effectively and positively with others. This situation results in an
open climate of communication within organization as well as outside it. So communication is of
paramount importance for a businessman to be successful in his business.


Developing the right attitude
“To the customer, you are the company.” Your attitude when dealing with customers, clients, and the
public reflect on the company you represent. Our attitude will reflect your country and your culture.
Each message communicates the essential quality and culture of your company and can either build
goodwill of destroy it.
Doing an honest job enthusiastically and competently helps both the doer and the receiver. Answering even
routine inquiries should and can be a inter easting challenge.
Message written to international clients, customers suppliers.

Preparing Adequately
Most people can learn to communicate effectively for business if they are willing to devote whatever effort
is necessary to prepare themselves adequately. In addition to the proper goodwill-building attitude, the
following qualities are desirable:

• Careful, sound judgment when choosing ideas and facts for each message.
• Patience and understanding, even with unjustly insulting persons.
• Integrity, backed up by a valid code of ethics.
• Reasonable facility with the English language.
• Applied knowledge of the communication process and principles and of successful methods for
sending and receiving message.
• Knowledge of the cultural conventions of your audience.

Cultural Diversity at work
Today’s workplace is increasingly divers in age, gender, and national origin. Diversity has brought problems
to organizations, but it has also brought strengths. Changing demographics have contributed to change in
management styles, making effective communication central to success in carrying out the organization’s
business.
Components of communication
Communication is a process of transmitting and receiving verbal and nonverbal message. Communication is
considered effective when it achieves the desired reaction or response from the receiver. Simply stated,
communication is a two-way process of exchanging ideas or information.
Factors interact in the communication processes, affected by various contextual conditions and decisions.
Every country, every culture, and every company or organization has its own conventions for procession
and communicating information. This aspect of context is the playing field on which you must plan.
Your own view of the world affects, attitudes, opinions, emotions, past experiences, likes and dislikes,
education, job status, and confidence in your communication skills all influence the way ability to analyze
your receiver’s culture, viewpoint, needs, skills, status, mental ability, experience, and expectation. You must
consider all these aspects of context in order to communicate a message effectively.

Components of communication
Communication is a process of transmitting and receiving verbal and nonverbal message. Communication is
considered effective when it achieves the desired reaction or response from the receiver. Simply stated,
communication is a two-way process of exchanging ideas or information.
Factors interact in the communication processes, affected by various contextual conditions and decisions.
Every country, every culture, and every company or organization has its own conventions for procession
and communicating information. This aspect of context is the playing field on which you must plan.
Your own view of the world affects, attitudes, opinions, emotions, past experiences, likes and dislikes,
education, job status, and confidence in your communication skills all influence the way ability to analyze
your receiver’s culture, viewpoint, needs, skills, status, mental ability, experience, and expectation. You must
consider all these aspects of context in order to communicate a message effectively.

Advance in Technology
The internet, e-mail, voice mail, faxes, pagers, and other wireless devices have revolutionized the way people
communicate. Suck technological advances only being new and better tools to the workplace but also
increase the speed, frequency, and reach of communication. People from opposite ends of the world can
work together seamlessly, 24 hours a day. Moreover, advances in technology make it possible fro more and
more people to work away from the office-in cars, airports, hotels and at home.

Lesson 2
FLOW OF COMMUNICATION
• An organization is a group of people associated for business, political, professional, religious, social,
or other purposes. Its activities require human beings to interact and react, that is, to communicate.
They exchange information, ideas, plans, order needed supplies and make decisions, rules,
proposals, contracts, and agreements. All these activities require one skill, that is communication.
So we can say that communication is the “Lifeline” of every organization
• An exchange of information within an organization is called internal communication. It takes place
at different levels -- downwards, upwards and horizontal
• To exchange information within and outside the organization we use a variety of formal and
informal forms of communication that carry the flow of information.
Attached Files Available for Download
File Type: zip Virtual University MBA Notes 2 nd sem.zip (1.24 MB, 67 views)
File Type: zip Virtual University MBA Notes.zip (951.9 KB, 42 views)
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Answered By StudyChaCha Member

Last edited by Sashwat; February 13th, 2014 at 12:12 PM.
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