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"How you communicate is as important as what you communicate." (A) Illustrate the factors that a business needs to consider when communicating with its various stakeholders - Leaving Cert Business - Question Question 1 - 2012
Question Question 1
"How you communicate is as important as what you communicate." (A) Illustrate the factors that a business needs to consider when communicating with its various stak... show full transcript
Worked Solution & Example Answer:"How you communicate is as important as what you communicate." (A) Illustrate the factors that a business needs to consider when communicating with its various stakeholders - Leaving Cert Business - Question Question 1 - 2012
Step 1
Illustrate the factors that a business needs to consider when communicating with its various stakeholders.
Answer
When communicating with stakeholders, a business must consider several factors:
Appropriate Language and Clarity
The business must use language that is clear and appropriate for the audience. If technical language or jargon is used inappropriately, the message may be misinterpreted. Short, straightforward sentences are often more effective for general communication, such as email updates.
Confidentiality and Safety
For sensitive communications, such as employee terminations, the medium must be carefully chosen. A face-to-face meeting might be more suitable than an email to ensure respect for the individual involved.
Cost
Financial considerations play a critical role in communication strategies. A company may opt for virtual meetings to reduce travel costs, especially if the interaction involves stakeholders across different regions.
Urgency, Speed, and Destination
The necessity for timely communication is paramount. Stakeholders need to receive information promptly to react and adjust their actions accordingly. Depending on the urgency, different communication methods may be appropriate, such as phone calls for immediate feedback.
Feedback and Accuracy
Obtaining feedback is vital for effective communication. Businesses should ensure that communication is accurate to avoid misunderstandings and encourage open channels for feedback, such as regular updates and responses to queries from stakeholders.
Other Relevant Factors
Additionally, businesses must consider legal requirements and the availability of technology in their communications.
Step 2
Distinguish between the duties of a chairperson and a secretary in the organising and running of an Annual General Meeting.
Answer
The Chairperson
- Meeting Management: The chairperson is responsible for guiding the meeting, starting with drawing up the notice and agenda. They ensure that all points are addressed and that the meeting runs smoothly.
- Order and Attendance: They initiate the meeting by confirming the presence of the required attendees and maintaining order throughout the proceedings.
- Discussion Facilitation: The chairperson facilitates the discussion, helping to manage contributions from members and ensuring that the agenda is followed.
- Voting: They oversee any voting processes during the meeting and have the authority to adjourn when necessary.
The Secretary
- Preparation and Notification: The secretary prepares the necessary documentation and notifies all shareholders of the meeting details, ensuring they have ample time to prepare.
- Administrative Support: They arrange logistics, including seating and resources, and ensure that refreshments and equipment are available.
- Minute-Taking: The secretary records the minutes of the meeting, which includes important discussions and decisions made. This documentation serves as a record for future reference.
- Advisory Role: They assist the chairperson by providing information on agenda points and other procedural matters that arise during the meeting.