THE ROLE OF EFFECTIVE COMMUNICATION IN MAXIMIZING BUSINESS.

JACKSON ANETH BAPRM 3 42565

 The Role of Effective Communication in Maximizing Business.

 For most companies, effective communication is imperative in maximizing business. Poor communication can lead to major sources of conflict, including professional misunderstandings, loss of trust, reduced cooperation, personal attacks in the professional sphere and client mismanagement.

Additional consequences of inadequate communication also include reduced productivity, lack of respect and, in some cases, resignation by either employees, clients or vendors. In the corporate world, effective communication plays a variety of roles in growing a business.


1.Effective communication can clear up misunderstandings and foster straightforward business negotiations that are free of sarcasm, personal attacks, inaccurate information and assumptions.

This is especially the case if you're looking to maximize your overseas business. According to the University of Wisconsin, effective communication is key if an organization wants to buy and sell overseas, negotiate or consider joint ventures with international firms or adapt products for an international client base.

2. Trust
When properly used, communication can be an effective tool in earning client, customer and vendor trust. Depending on what product or service your company provides, chances are your business needs to ensure reliability to clients and customers.

One way to earn this trust through communication is by demonstrating accessibility.

For example, instituting a 24hour customer service hot line that encourages customers to call at any time with questions, concerns or problems demonstrates your company's accessibility and may garner more trust. According to Certified Business, if your clients can reach you, they can trust you.


3. Retention
Effective communication can support business development by increasing your customer and client retention. Creating a 24hour customer service hot line, for example, can help you retain more customers, along with earning their trust.

Increasing retention may include anticipating what your customers' needs are before they voice them, which is a fundamental aspect to effective communication.

4. Common Barriers
As a small business owner, you may run into communication barriers that can impact how much business you bring in and retain.

These barriers may include language, cultural differences, distrust, inconsistency and unfounded assumptions.

Effective communication not only earns customers' trust and retains business prospects, but it also reduces the noise of distorted perceptions and suppositions made by clients or others who do business with you.