The Importance Of Communication In Business

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Communication Communication within a business environment generally refers to the transmission of information to and from internal and external stakeholders. Various channels of communication include written mail, memos, emails, telephone calls, meetings and printed and digital media (Vitez, 2016). Great communication tactics can be beneficial to companies to get their messages to the right people effectively, the first time around. Such tactics are crucial in order to communicate undertakings such as corporate responsibility efforts and to encourage feedback, participation and goodwill from stakeholders in return. Corporate Responsibility Corporate responsibility, also referred to as corporate social responsibility (CSR), can be described…show more content…
If a company promises things that they cannot follow through with in regards to their product or service, they have falsely advertised their product or service. This false representation can have drastic effects on their reputation, and in turn, their profitability. The company can even be liable to compensate anyone who has purchased their misrepresented product or service. How a company handles their disgruntled customers must also be done very carefully and precisely. Customer service is a key aspect of company-customer communication. This channel opens the door to feedback, as well as the ability to ensure all their customers are satisfied, in the end, with their product or service. If this channel were not available, perhaps the customer would resort to having to vent their frustration to other people, damaging the reputation of the company in turn. Communication in Corporate Social Responsibility Due to concerns of transparency and ethical behavior, building trust among stakeholders is a key management function of CSR efforts. This is achieved through effective and efficient communication strategies. Successful strategies can yield positive results, which can then be dissected to identify the individual roles communication played that contributed to the overall success. The various roles of communication in the execution of CSR include: (1) stakeholder support and engagement (2) economic gain and (3) transparency. 1. Stakeholder Support and
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