Management communication & strategy
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The document discusses the communication strategy implemented by a company called Kitoone Incorporation after hiring a new CEO. It describes how the previous communication approach led to losses, and the new CEO developed a more open strategy including direct employee access, email, notice boards, feedback boxes, meetings and social media. This led to increased sales, customers and profits within six months and a year. It then provides background on management communication, the opportunity for improved communication, its purpose and conceptual framework. It outlines audiences, structure, channels, flows, formal/informal communication, objectives, and the importance of feedback.
Management communication & strategy
- 1. MASTERS OF SCIENCE IN BANKING AND INVESTMENT MANAGEMENT MAKERERE UNIVERSITY 2015 COURSE COMMUNICATION AND NEGOTIATION SKILLS TOPIC MANAGEMENT COMMUNICATION AND STRATEGY
- 2. GROUP MEMBERS • KAVIRA KATSURANA 2015/HD10/2261U • SEBATTA ROGERS 2015/HD10/2266U • KALEGA COLLINE OMARION 2015/HD10/2260U • TAMALE HENRY 2015/HD10/2268U • MUSANYA ISAAC 2015/HD10/2264U
- 3. GENERAL OVERVIEW • Story • Back ground of the study • Statement of the opportunity • Purpose of the study • Conceptual framework • Explanation of variables and relationship • Communication Strategy
- 4. Story KITOONE INCORPORATION COMPANY Securities Brokerage, Financial Advisory, Magazine Sales and distribution
- 5. Story Cont.... KITOONE INC. started operations in 1995 with four permanent employees, and one CEO Mr. Tamale Henry. As one of the strategies to develop its clientele, the company would have two meetings every month on the 15th and 30th days to discuss targets, gap analysis, challenges and map a way forward. The first meeting held at Mr. Tamale’s restaurant would focus on the set targets and what had been achieved, and 30th day meeting held over at City Star Bar focused on the effectiveness of the road map drawn in the first meeting. However, much as the strategy was implemented, it did not yield much result. This prompted Mr. Tamale to get a new job in a finance firm in Jinja and delegated most of his obligations to Ms. Grace who was the company finance and administration officer. This posed a fresh new challenge of communication ,delayed delivery and execution of work.
- 6. Story Cont..... Grace would wait for the documents to accumulate and then travel to Jinja on the 1st of every month to have them signed off by the CEO and discuss company matters. She would communicate some of the key issues, decisions made and required actions to staff on the 2nd. It was there after that implementation of signed off decisions would be made. After 6 months of the company making losses, a special meeting was called and the team decided to relieve Mr. Tamale of his duties and hire a full time qualified and experienced independent person to take over the CEO duties. After taking the advert in the national news papers as the company wanted to have a wider pool of resources from which to interview, a new CEO Mr. Ssebata Collins was hired. Mr. Ssebata was a mature, experienced, result oriented and talented individual with a proven record of management skills.
- 7. Story Cont.... The new CEO held various consultative meetings with his team and new communication strategy was developed which included:- Direct access to the CEO by each and every employee, a company email, notice board pinned in an open area, a feedback box for employees and clients’ complaints , Social media platform, two weekly meetings to be held on every Monday Friday, a board room for holding meetings. Six months later, the company's clientele increased by 40% and its profitability as well, company achievements were communicated to all staff. An atmosphere of no boundaries or titles but only one unifying factor ‘KITOONE INC goals’ was created. By year end, the company sales had increased to 80%, customer base doubled and profits increased. As motivation, all employees were given a Christmas bonus of 25% of their salaries.
- 8. BACKGROUND OF THE STUDY Communication is a critical function in organizations, from the very small to the very large. Even one-to- one communications can be fraught with challenges and misunderstandings. By communicating purposefully and focusing on results and relationships, businesses can leverage effective communication strategies to generate solid results with multiple audiences. This, in force made Mr. Sebatta Collins (new Company CEO) lay down new strategies to comfort the company situation such as; An open communication environment, an inclusive communication strategy, Two-way communication or conversations between members of the organization When all parts of the organization communicate smoothly, it can improve workflow and overall productivity which finally builds a stronger company that will have staying power in the market
- 9. STATEMENT OF THE OPPORTUNITY Managing communication is one of the key aspects organizations consider to achieve the preset goals and objectives. If employees are unaware of what the organization expects of them, this could cause employees to become suspicious of motives and changes in the company. This could negatively affect productivity in the workplace. If productivity decreases, eventually this will harm the organization as a whole. In order for an organization to run well, management should be able to effectively communicate to employees what is expected of them, make sure they are fully aware of company policies and inform them of any upcoming changes or business strategies. This should help to optimize employee productivity and ensure that the organization runs smoothly. Management should also effectively communicate to clients to increase sales for the Organisation.
- 10. PURPOSE OF THE STUDY To establish the importance of audience analysis, structure selection and channel selection which can lead to effective management communication.
- 11. CONCEPTUAL FRAMEWORK Audience analysis (clients and Staff) Structure and style (center expertise model) Channel selection (upward, downward & horizontal) management communicati on & strategy
- 12. FLOW OF COMMUNICATION Flow of information in an organization can be classified into internal and external communication • Internal Communication A business needs to communicate internally with its managers, employees, executives and shareholders to make sure that everyone is on the same page with regards to the firm's strategy. • External Communication External communication takes place through multiple channels. You need to communicate strategically through these channels to convey your message to different audiences. For example, to communicate to the community at large you may issue press releases about local projects you are supporting
- 13. Classification of Communication Communication in an organization can be classified as formal or informal communication
- 14. Formal communication • It is designed to follow a scalar chain of command. Formal communication can be oral or written. Formal communication can be further classified into the following:- • Downward communication: It is designed in a way that employees communicate to supervisors, supervisors to managers, managers to executives, and regional manager to general manager and so on. • Upward communication: It is designed to flow from lower level managers to top level managers. • Horizontal or Lateral communication: this generally takes place in an organization and is neither upward nor downward. It proceeds in a horizontal manner and takes place among equals and at peer level.
- 15. Informal Communication Here communication takes place between individuals and groups. It has no official recognized channel. It is a result of social interaction among the various members of the organization.
- 16. COMMUNICATION STRATEGY Strategic communication allows a business to convey a message internally and externally and to be receptive to outside feedback. For instance in a bakery there are multiple channels for communicating. You need to be able to communicate with your production staff -- your bakers -- as well as the customers buying your products and the community at large. Effectively managing your strategic communications will allow you to convey the message you want to express, while receiving valuable feedback.
- 17. REVIEW THE EXISTING The effectiveness of the communication strategy should be reviewed to ensure that key messages are received and understood by audiences. This can be done by seeking feedback from internal and external audiences about their understanding of the policy and its practical application. It should be possible to build opportunities for feedback into certain communication tools and other relevant materials. The communication strategy is not static. It should be reviewed regularly to ensure compliance with the organization’s objectives and goals.
- 18. OBJECTIVES The key communication objectives for the organization are: • Encourage use of organization’s management best practices • Give accurate and timely information about what is taking place with in the organization • Ensure a consistent information flow • Provide a link between business objectives and communications planning and delivery • Create continuity in communications activity over an extended period through reporting
- 19. Audience Analysis The introduction of new policies and products will need to be communicated at varying degrees, through a range of media, to different audiences. It is recommended that all audiences be defined and dissected into two groups – internal and external audiences. • Internal audiences; staff, managers at all levels, Volunteers, contract staff • External audiences; the public, contractors, clients, service providers, suppliers, government
- 20. Structure and style • Center of Expertise Model – Here Central department provides a full range of both strategic and technical services to the whole organization; by communication technique, by management process and by audience • Overarching Committee Model –In this model, a cross-organizational committee is formed to coordinate planning, the corporate “look” and corporate messaging.
- 21. Resources These include devices that are used during communication; phones, computers, notice boards, funds, human resources, website, suggestion boxes and social network pages.
- 22. Message • It is important to note that the information passed on should be understandable, clear and of significance to the users.
- 23. Timing • Timing of Communication Activities: States when formal communication activities are to be undertaken (for example, at the end of a stage) including performance audits for the communication methods.
- 24. Feedback • Communication is a two-way process; this means you need to not only communicate your message, you need to listen to feedback. For example, you can use social media not only to convey information, but to seek feedback about your products. You may also use more traditional methods, such as giving customers comment cards to fill out asking about the taste and overall quality of your products. You may also ask customers directly by calling them to see if your product met their expectations.