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Managing communication, knowledge and information are very important to make effective decisions in an organization. Read this document report to know different strategies and sources of communication required.
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MANAGING COMMUNICATION, KNOWLEDGE AND INFORMATION
INTRODUCTION Information, knowledge and communication go hand-in-hand. It works to acquire organizational goals. The assignment discusses strategies of personal networking for decision making process. • • •
RITZ CARLTON Provide its services across 29 countries and territories. Subsidiary of Marriott International avails elite class services to its guests and visitors. Information and Technology plays crucial role for this hospitality group. • • •
1.1 RANGE OF DECISIONS TO BE TAKEN The hotel group plans and prepare procedures for decision making on various grounds, some of the key decisions to be taken are as follows: •Quality of services, •Process, •Sources of finance, •Inventory and •Manpower.
1.2 SOURCES OF INFORMATION AND KNOWLEDGE REQUIRED TO ENSURE EFFECTIVE DECISION TAKING Primary information, Secondary information, Internal information and External information. • • • •
1.3 INTERNAL AND EXTERNAL SOURCES OF INFORMATION AND UNDERSTANDING A. Internal sources of information • Marketing and sales reports • Production and operational information • Internal documents
CONT. B. External sources of information Government reports and judgements, Professional publications and financial institutions reports, Survey maps and Internet. • • • •
1.4 RECOMMENDATIONS FOR IMPROVEMENT The cited process has following shortcomings: • Absence of present day information, • Cost effective, • Current trends and patterns are unavailable.
METHODS FOR DATA COLLECTION Questionnaires and observations, Market surveys, Documentation reviews and Improving secondary data collection standards. • • • •
2.1 IDENTIFYING STAKEHOLDERS FOR DECISION MAKING PROCESS Stakeholders people indirectly influences the decision making process of the company: are those directly who and who
CONT. Owners Owners Employees Employees Suppliers Suppliers Customers Customers Government Government Investors of the hotel group are interested in profitability, market share and capital of the company. These are internal stakeholders availing services directly to the customers. Inventories and raw materials are provided by this segment to Ritz Carlton. Guests, businessmen and visitors are its clients who receive quality services of hotel group. UK government policies and procedures like taxation system, employment laws are included in it.
2.2 DEVELOP BUSINESS RELATIONS WITH THESE STAKEHOLDERS There are different ways to communicate with stakeholder, such as: Annual meetings, E-mail, Social media, Telephonic conversations and Face-to-face communication. • • • • •
2.3 INVOLVING STAKEHOLDERS IN DECISION MAKING PROCESS Owners Employees Suppliers Customers Government • • • • •
2.4 DESIGN STRATEGIES FOR IMPROVEMENT Make use of both formal and informal methods. Formal method fosters hierarchy management while informal process establishes good relationships. Make use optimum use of IT and internet services. • • •
CONCLUSION Knowledge and information are essential elements for decision making process. Information communicated through communication processes. Optimum and authentic sources and software are used by the company. • • •
REFERENCES Books and Journals • Coombs, W. T., 2014. Ongoing Crisis Communication: Planning, Managing, and Responding: Planning, Managing, and Responding. Sage Publications. • Ajmal, M., Helo, P. and Kekäle, T., 2010. Critical factors for knowledge management in project business. Journal of knowledge management. 14(1). pp.156-168. Online • Nordquist. through:<http://grammar.about.com/od/c/g/Communication-Process.htm>. [Accessed on 8thMarch, 2016]. R., 2015. [Online]. vailable Communication process.