The Industrial And Commercial Bank Of China

The Industrial And Commercial Bank Of China The main aspect which has been taken into account in this report addresses the understanding of various global business strategies and organisation form and structure of the Industrial and Commercial Bank of China (ICBC) locally and globally to earn its competetive advantage. The relevant theories were taken into consideration and the in-depth analysis of global business strategy which were used by ICBC was undertaken. This report contains background informatin of the bank. The Chineses banking enviornment was taken into consideration as well as the internal enviornment of the company was analysed with the help of SWOT, PESTEL and Porter 5 forces frameworks. To illustrate the performance of the ICBC a resource audit, which includes assets, resources and core competencies was presented. This report is focuses on the identification of companys local and global corporate strategy . This report concludes with the strategic implementation of its policies, challenges which are being faced by ICBC and reccomendation to deal with those challenges. Introduction: ICBC offers its customers various financial services. ICBC operates all across the globe. According to Forbes (2011) ICBC is the seventh largest publich company. History of ICBC: ICBC started with registered capital of 20.8 billion Yuan and the capital and assets added up-to 333.3 billion Yuan. In the late eighties ICBC became the formal member of International Saving Banks Institute. In October 1989 ICBC introduced the Peony Quasi Credit Card for the first time. The ICBC network in 91 cities got connected with a nationwide computer network system in October 1990. In the early nineties the bank was according to the Euromoney Journal was ranked number 8 in terms of capital share. ICBC went global in March 1992 and its first overseas subsidiary was set up in Singapore. In November 1995 ICBC expanded out of Asia and their first office in Europe was in London. ICBC went online in December 1997 and their official website was launched. ICBC jointly with Hong Kong Bank of East Asia acquired ICBC-BEA Finance Shareholding Co. Ltd with a 75% of shareholding in February 1998. In September 1999 ICBC launched 95588 its telephone banking services nationwide and in February and August 2000 respectively, ICBC began its Corporate Internet Banking and Personal Internet Banking services. In May of 2002 Peony Card Centre was established and it became the first professional bankcard business organization in China Peony Card became a sought after brand. Furthermore, in 2003 ICBC signed Agreement with Microsoft (China) in Beijing for the co-operation of Personal Internet Bankings security. The same year on December 18, ICBC launched its new personal Internet banking product [emailprotected]. In February 2004 PricewaterhouseCoopers designed ICBCs 8 year plan for corporate governance system and over-all risk management reform system and ICBC put it in practice in April 2005 under the State Councils Approval. Moreover on October 27, 2009, with 236 billion restricted shares released to the market ICBC becomes the No.1 A-share quoted company and the largest bank in the world by market capitalization. In the last quarter of 2009 the ICBC has expanded itself as it h ad received the business licence to operate in ICBC Malaysia Company Limited from Bank Negara Malaysia and ICBC Hanoi Branch, the first license issued to a foreign bank this year. December 16, 2009, The Central Bank of United Arab Emirates (UAE) officially approved and issued a wholesale banking license to ICBC to set up a branch in Abu Dhabi, a new ICBC branch in the Middle East for ICBC to spread its wings in the region. Organisational structure of ICBC: Organisational structure can be considered as a pyramid shaped system that positions the relations between the entities within an organisation vertically. Authority, power and responsibility are focused at the top and the decisions are made here and are implemented by the rest of the organisation. (Daft, Murphy, Willmott, 2010) The structure of ICBC is a hybrid structure, a combination of characteristics of various approaches tailored to specific strategic needs (Daft,2007). Functional and divisional structures combined create the organisational strucutre of ICBC. The organisation structure of ICBC consists of series of supportive departments expert in functional duties, containing Comprehensive Administration Departments, supervisory Supporting Departments and Affiliated Institutions. In the functions economy of scale is encourged due to functional structure. A management model of centralized legal person authorization and controlling one level down and supervising two levels lower is implemented by ICBC. The banking system of ICBC is centeralised in one location. (ICBC, 2009) The strategic business unit refers to the divisional structure. ICBC contains a number of Business Development Departments: Corporate Banking, personal banking, investment banking and e-banking, etc. which can fullfil individual needs and satisfactions of clients. A hybrid structure proposes greater flexibility for organisation (Daft, 2007) that aligns with the current corporate aims and strategy with divisional goals, functional expertise and productivity. Source: ICBC Annual Report 2005 The latest chart of organisation is attached in the appendix. The distribution of power: The distribution of power has been more decentralised and flexible after ICBC turned into a public corporation as compare to early times when it was not listed. Now every hierarchical level has a decent chance to take their decision on their own. Hence, the working attitudes of its employees might increase. Now they will be more motivated as they are part of decision making process and will share the success as well as the losses of the company. The biggest drawback of this managemnt style will be communication network. With decentralising, it will be difficult to communicate with other hierachical levels because of their interest conflicts. (ICBC, 2009) Enviornmental Scanning: To analyse the strategic position of any company there are several frameworks, techniques, and methods such as SWOT analysis, PESTEL and Porters 5 forces available. SWOT-Analysis: SWOT is an abbreviation for Strengths, Weaknesses, Opportunities and Threats. SWOT analysis is used to identify the internal and external factors which can be used to achieve a certain goal or improve the performance of any business. Strengths and Weaknesses are the internal factors of an organisation and Opportunities and Threats are the external factors to that organisation. The internal factors relate to any company and the external factors relate to the external environment of the organisation. (What is SWOT Analysis, 2011) Strengths: With a market value of $239,5 billion, ICBC is worlds leading bank in the world by market capitalization and it is also one of the Big Four in the domestic Chinese banking industry and has a leading marketing share in China. Due to a strong distribution of network which consist of 18,000 domestic institutions, 203 overseas institutions and over 1,440 correspondent banks worldwide, as well as 7,085 self-service banking centres and 28,656 automated teller machines ICBC has been providing its financial services to (3.10 million corporate banking, 190 million personal banking ) customers. ICBC also developed further the cash management as it got the Best RMB Cash Management Services (China) Award by the magazines The Asset and FinanceAsia. in 2008 with the score of 96.23 ICBC topped the list of 50 Most Honoured Listed Companies of China as well as was awarded the best custodian bank by The Asset, Global Custodian, Global Finance and Securities Times. Source: own presentation With 240 million issued bank cards in 2008 ICBC was the largest credit card issuing bank in China, an increase of 28.20 million over the end of 2007. Therefore, Visa and MasterCard had awarded ICBC with Award for Leading Technology of Credit Card and Best Product Innovation of the Year respectively. ICBC is into investment banking, wealth management, insurance and asset management which lead it to the universal banking model alongside the traditional banking which helped them to diversify their revenue flow. In FY2008 and FY2009, the bank generated around 52% of total revenues from corporate banking, personal banking generates 32% of revenues, treasury and other operations contribute 16% of the total revenues. Diverse sources of revenue such as settlement, clearing and cash management, investment banking, corporate wealth management, asset fiduciary, guarantee and commitment were the main causes for non-interest income. Weaknesses: ICBCs allowance in financial year (FY) 2008 and FY2009 amounted to 130.15% and 164.41% of total non-performing loans which was higher than the impairment losses on loans in absolute terms of last two years. This increase in allowances was on account of both external and internal factors. Hence, the profitability of the bank was affected by the increased allowances for impairments. Opportunities: At the end of 2010, ICBC had 203 branches in 18 overseas countries and regions and established correspondent bank relationships with 1,358 overseas banks in 122 countries and regions all across the globe. According to Swiss Re, Total takaful premiums written in 2007 was about US$1.7 billion, and it is expected to propagate to US$7 billion by 2015. ICBC can secure the benefits of being the first Chinese player venturing into Islamic banking. Several products and new services has been introduced by the ICBC after the financial crisis as well as facilitating the foreign trade companies to conduct export and import business. Chinas insurance market is growing rapidly. . In 2013, the Chinese insurance market is forecast to have a gross premium income of $353.4 billion, an increase of over 100% since 2008. Threats: After enjoying the double digit growth for last several years, and the banking industry was benefited most of it but late Chinese economy is having a slight decline. In second quarter of 2010, Chinas economy grew by 10.3%, down from 11.9% in the first quarter of 2010 and it might remain the same for the last 2 quarters as well. With emerging China several foreign banks are interested in or already started to undertake a number of businesses, including custodian services investors, insurance agency business etc. Foreign banks in China are allowed to offer over 100 types of products and services under 12 broad categories of business activity. According to the China Banking Regulatory Commission (CBRC), within the five years since Chinas WTO accession in early 2002, operational entities opened by foreign banks increased from 190 to 312. Since foreign institutional investors were first allowed to invest in Chinese banks starting in 1996, 35 overseas banks have acquired stakes in 23 Chinese banks by 2008. As competition was continued to intensify in 2009. Hence, this could affect the revenues and profits of the bank. PESTEL Analysis: PESTEL is not just the internal environment but also the macro-economic factors affecting the external environment of a company affect the way it conducts business. These factors need to be kept in mind while formulating strategies and making decisions for the future. Demand and supply may fluctuate due to a number of vital variables that may not be in the control of the management. PEST-EL analysis is a framework used for categorizing Political, Economic, Social, Technological, Environmental and Legal issues influencing the operating environment of the organization (Johnson and Scholes 2008). Political: In 1976 China made a huge breakthrough when it abandoned its old autocratic socialist system and turned into to modern Socialism which was more focused on Market-oriented economy. China has intensified its involvement to international organization since 1990s. After becoming the member of World Trade Organisation (WTO) China has opened the doors for the foreign banks to enter the Chinese banking industry. Economic: China besides India is one of the emerging giants and it has already occupied the second place as worlds biggest economy after USA. Therefore, China is a very attractive destination for all the foreign companies especially in the manufacturing sector. There is a slight decline in the Chinese Economy due to the financial crisis but the forecast for the coming years is much brighter. In comparison to planned economy before 1976, China is reforming its economy now for a more open market and free trade with other countries. Social: China ranks at the top in terms of population which is 1,331,460,000 till 2009. China lacks the high potential individuals and has the insufficient leadership which can follow the rapid economic growth. To control the population the policy of one child is not seen everywhere with the correct frame of mind. The biggest hurdle for all the foreign companies is the language. Chinese people are tied strongly with their culture therefore local language is the only way to conduct the business. Technological: Since the introduction and popularity of Internet online shopping is more into practice now in China According to CNNIC the number of online purchasers is 420 million. Internet Banking and Telebanking is becoming more common now. In 2006 China had approximately 400 million mobile phone users and 6.1 million of them are connected online. Environmental: The natural resources such as land water and air and the environment of China has been damaged seriously by its rapid economic progression. A large amount of usage of polluted energy such as Coal and oil. China is the third largest coal and oil consumer in the world. Human right Issue (500,000 individuals are in custody without any charge and trial and 1 million cannot access to Legal system. (Amnesty International) Legal: A set of policies has been established by the Bank of China to fight against white colour crimes. More than 200 administrative rules and regularity documents has been implemented by China Banking Regularity Commission to control the financial crimes. China offers a open market to the foreign banks. Porters 5 Forces Framework: According to Porter there are 5 main forces which can shape every market and industry. These five main forces assist to figure out the intensity of competition to the profitability and attractiveness of an industry. Porters 5 forces framework on banking industry in China will provide us a sutiable tool to depict ICBCs position in the chinese banking sector. Being a leader in the banking industry ICBC has to deal with all these forces to sustain its top ranked position. These five forces are: risk of new entrants, rivalry, bargaining powes of buyers, bargaining power of suppliers and threat of subtitute prodcut. Porters 5 forces framework for ICBC as follows: Risk of new entrants: The enty barrier for foreign banks has disappeared when China Joined the WTO in 2002. Many foreign banks consider China a profitable destination for banking industry. Several finanacial and non financial companies can easily come to China and start operating their business. Rivalry: Besides the Big Four banks in China several other foreign banks have started their operation in China which has intensified the rivalry which has been there forever. Now ICBC has to compete not only with the Big Four sondern with big foreign banks such as HSBC. Bargaining power of buyers: Banking industry is a high buyer concentration industry. China is the largest country in terms of its population. A significant number of people use bank service, such as deposit money, mortgage, loan, investment, insurance and currency exchange these days. Internet is changing everyones life customers can easily obtain the information via internet. In the banking industry interest rate and service charge are senestive indicators for customers. In recent years various subtitute products and services are available for example currency exchange, insurances and loans and they are provided normally by the other financial institutions. Bargaining power of supplier: Credit Card industry is a high concentration ratio industry and ICBC has been awarded with awards from the leading companies such as VISA and MasterCard Worldwide. Although few Aother companies also provide credit card system, such as JCB and American Express but theie market share in the world is much less than VISA and MAstercard. So switiching cost might be high for ICBC. Substitute products: Internet made a huge difference to many organisations when it comes to deal with money. Now they do not need to transfer huge ammouts through banks. They can do the same with other low charge service and it is also more convinient. The services such as Real-time money transfer (i.e. Western Union), real-time payment (i.e. Paypal), currency exchange (i.e. Xe.com) and insurance (i.e. InsWeb.com) through Internet provide a high quality but low service charge service. Resource audit: Opportunities can be created and exploit in the external environment in which a business usually operates. Besides these opportunities threats are also present which can impair any business. However, to deal with these threats and exploit the opportunities, a business requires the right resources and capabilities. The current holding resources of any company can be recognized by the resource audit. These resources can be either owned (e.g. plant, machinery) or acquired from other resources such as partnerships and joint ventures. Financial resources: Existing Finance: According to the first quarterly report (2011) of ICBC, the bank has continued to push forward to their growth and obtained a sustainable profit as compare to last year. The total assets have an increase of 6.92% from the last year and its value is now 14,389,996 (RMB in million). Besides the assets the liabilities have also increased simultaneously and its value is now 13,517,771(RMB in million) which are 6.97% more than last quarter. The equity attributable to equity holders has an increment of double digit (10.54%). Net profit for this period is 53,836 (RMB in million) which is 29.03% more than the first quarter of 2010. The result shows the successful implementation of their strategy local and globally. Human resources: ICBC is enjoying the services of 387,000 employees till December 2010 at its global and local centres. Physical resources: ICBC has till now around 18,000 outlets and 23,000 ATMs all over China. Intangible resources: As being the leading institute in the banking industry ICBC is enjoying their good brand image. ICBC has also obtained the partnerships with several banks all across the world especially in Africa. ICBC has also won the reputation for their Internet banking services. ICBC has one of the secure internet banking system in China. Current Strategy: In June 2009 ICBC had introduced its three year new Development Strategy Plan and Implementation Scheme of that plan to all its offices. In the last ten years of ICBCs strategic transformation this plan is the second three year plan and it was based on the implementation experience of the development strategy plan of years between 2006 and 2008. This plan was produced after a comprehensive analysis of the latest development of ICBC and the economic and financial trends at domestic level and global level. Implementation experience of old Plan (2006-2008): The base of this strategic plan was laid on the experience of achievements and failures which had been achieved by ICBC in last 20 years as well as on the direction of Chinas financial reforms. The aim was set to achieve this strategic transformation within next 10 years. The strategies such as adjustment of management structure, development by areas, innovation, service differentiation, cross-border management, comprehensive risk control, and emphasis on technology and human capital were executed successfully and ICBC got better results than it originally expected. Therefore, at the end of 2008 ICBC became the number one ranked bank in market value as well as it became the most profitable bank in the world. ICBC was mainly successful because it enhanced the capability of comprehensive profit-making, paid a close attention to risk control and decided to achieve transformation in self-development. ICBCc new three year Plan (2009-2011): The successful implementation of previous strategic plan gave ICBC the assurance to carry out transformation strategy further to sustain the progress in development. The new plan offers the guiding idea that Guided by scientific outlook on development, striving to enhance core competitiveness, continuing to promote management structural transformation, developing more innovations, and achieving fast, stable and sustainable development of ICBC to seize opportunities to strengthen and to brace its market position. To apply this strategy ICBC has decided to start from the reality and carry out the scientific outlook on development into every step of transition. The New Plan proposes ten strategic projects which attach emphasis to structure adjustment, finance innovation, service upgrading and etc., and a set of precise objectives and measures for various regions and for diverse services according to the general objective and task design of the ten strategic projects. For the successful execution of the strategies ICBC also introduced an implementation scheme to make thorough and specific arrangements of the tasks and responsibilities for different departments and branch offices. ICBC establishes coordination mechanisms to coordinate the New Plan to ensure the flexibility and adaptability. Furthermore, at the start of each year, required adjustments will be made to the evaluate indicators according to the actual changes in the business environment and the implementation effect of the new plan in the preceding year. The existing problems, implementation progress and the implementation situation would be strictly monitored through regular inspections and reported to the Board of directors. To accommodate their corporate social responsibilities ICBC has developed poverty alleviation project in Nanjiang County and Tongjiang County in Sichuan Province and Chengkou County in the city of Chongqing. Over 300 (RMB in millions) has ICBC invested already in this project. This amount includes loans as well as the donations which have been distributed by the bank to eight hope projects which includes schools and medical treatment centres. There are several other projects which ICBC is directly responsible or helping them to improve the social life of the people of China. According to the Annual Report Announcement 2010 ICBC has earned more profit in 2010 as compare to 2009. ICBC is getting those results because of their clear and good implementation of that strategy. Besides the increased profit overseas asset size had also increased in the last year as shown in the following diagram. That explains very clearly that ICBC is on the right path regarding their domestic and global strategy. The exceptional outcome of ICBC in 2010 especially at a time when it was concerned with a complex and changing operating environment was mainly a result of the Banks successful implementation of its strategy at home as well as overseas. 12 new branches had been established in 2010 and a global network encompassing 203 overseas subsidiaries placed in 28 countries, spreading over five continents worldwide. Every business company faces threats and challenges although the numbers depict the different picture. These challenges could be overcome by the company by bringing some minor changes in their business strategy. As many other companies ICBC also faces some challenges which needed to be addressed. Firstly, ICBC is growing very rapidly which can cause some problem as it may affect their quality of service. Secondly the bigger challenge which is coming in the way of ICBC is the competition with foreign banks. After several foreign banks entering China makes hard for the ICBC. Now ICBC has more competition and even small mistakes can lead to huge financial and customer losses. Reccomendations for improvement: ICBC is facing a few challenges during their successful stint. These challenges has been mentioned above. These are not huge challenges and does not need any drastic changes in their strategy doemstically and globally. First challenge which was mentioned is their rapid growth. To grow fast is not a challenge unless you start compromising on the quality of your services. To keep in check this problem they need more check and balance in their organsiational structuer. As I mentioned above in the organisational structure that the main problem of their structure is communication problem. When IC BC can sort out that problem then there will be no compromise in the quality. Secondly, the callenge which can cause ICBC more problem is the competition in the chinese banking sector with the foreign banks as well as with the chinese banks. These foreign banks are entering China with much more oncoming force. Now ICBC can not afford any mishandling with their customer. A small mistake can lead ICBC to huge financial and customer loses. ICBC needs to transform their strategy in a way that they deal with their competetors in a way that they do not lose any customers locally as well as globally.

Top 10 Emerging Consumer Behavior Trends in Recession

Recession†¦a word that everyone these days has had at least once on their minds. Changes in our personal lifestyles and even professional directions could not help but happen. There is not so much freedom of realizing our plans and dreams. There is not so much passion any more in things that fueled us before. At the same time, the show must go on and if you are an observant marketer or a simple consumer, you must have started witnessing the following consumer trends driven by these challenging times. 1. Sellsuming† – the increased need for cash prompted most consumers become â€Å"sellsumers† as the folks behind April’s 2009 trendswatching report named them. Consumers become very creative in selling â€Å"extra† space, services or products. Great examples include: renting space (residential and even parking), reselling unwanted clothes, furniture, jewelry, providing expert advice or extra help in gardening and on. What have you done recently? 2. Fishing for low-cost entertainment – spending more time than money on entertainment, or getting entertained at home becomes another common pastime for recession-councious consumers. Some turn to online gaming, which is free and easily accessible, some arrange for more movie/favorite show nights using hulu. com or renting a bunch of DVDs on Netflix or elsewhere. According to emarketers’ analyst Paul Verna, â€Å"comScore’s measurements (up 27% more unique visits and 42% more total playing time in December 2008 than in December 2007) highlight the ongoing shift from high-cost, console-based gaming toward free, browser-based alternatives. † 3.  If affluent, buying more online with discretion – people with extra money now flock on web to keep their shopping lifestyle in a more discrete way. According to emarketers’ article, affluent shoppers comprise of one fourth of all US internet audience, mostly focusing on buying PCs and mobile devices. Online merchants – this is your audience to court these days! 4. Increased online services and social media usage – increased unemployment and job â€Å"insecurity† causes many people spend more time online while looking through the classified ads for jobs, services and then â€Å"some†. According to the Pew Research Center, the use of online classified advertising Websites doubled from 2005 to 2009. Emarketer also points out that â€Å"Twenty-two percent of US Internet users went on the sites in 2005, and in 2009, the proportion climbed to 49%. Daily use went from 4% to 9% in the same timeframe†. The â€Å"some† represents becoming more engaged in social networking sites to collectively share ideas, connections and any other information that simultaneously adds flavor to the trends # 6, 9 and 10. 5.  Smart shopping – looking for bargains offline and online becomes more usual pastime in efforts to economize on price and value, while trading in more time. Internet shopping again becomes a more preferable channel to accommodate this buying behavior. Do you use any of the shared secrets to get your best deals? 6. Increased propensity to social harmony – our natural inclination to re-prioritize our values in â€Å"cold and severe† economic climate drives us to spend more time with our families, friends and loved ones. We tend to turn to our families to get through the tough slides on the way. Companies that cater to these emerging â€Å"quality time† experiences can bolster loyalty and engagement of their existing customers and gain a number of new ones! 7. Increased value of health – focusing on health as the â€Å"real wealth† motivates increased popularity of engaging into various sports activities to maintain this â€Å"somewhat† controllable asset we all have. Finding happiness in health of bodies versus stock market is much more feasible and tangible. While gyms owners might ponder on this trend, consumers can still choose from a variety of free alternatives, including jogging, walking and biking. 8. Skills enhancement and training – laid off or not, people tend to become more genuinely interested in continuing their education to add value to their employability, or to cope with the reduced resources to maintain their career or a small business or to get distracted from the â€Å"depressed job market†. . More love and dating – who knew that recession induces romance? According to NYTimes, â€Å"Online and offline matchmakers are reporting that dating interest is up, way up. Match. com, for instance, had its strongest fourth quarter in the last seven years, and brick-and-mortar outfits like Amy Laurent International, a matchmaking service with outposts in New York, Los Angeles and Miami, say business is up 40 percent among women over the last four months. The reasons vary from more time on hands due to being unemployed or underemployed, more affordable way to meet singles online to seeking comfort in relationships during the difficult times (closer to trend # 6)! 10. Cooking from scratch to save and have fun – less money as discretional income translates into less often dining out and more cooking at home choices. Simultaniously, the propensity to cherish relationships and social affiliations drives consumers to arrange for more cookout get-togethers. Sharing a meal made from scratch both provides quality dining experience and befriends all engaged participants!

Communication in the Workplace

Communication is a vital process in organizations and companies in today’s world. It has been defined as an activity that entails transmitting information through interexchange of views or messages by behavior, signals, writing, visuals, and speech. The process of communication requires a sender, the message to be sent, and a receiver. However, it is mandatory for the receiver to be aware of the sender’s intention to communicate. This means that a sender can be able to communicate with a receiver across vast distances (Wilson 2010). Normally, the communication the process is complete after it is clear that the receiver understood the message as intended by the sender. Communicative commonality is integral to effective communication between communicating parties. Effective communication is not only needed inside an organization but also when dealing with external stakeholders. It enables organization to achieve competitive edge considering the fact that it through it that an organization remains responsive to consumer needs (Jones & George 2007). On the contrary, poor communication disrupts almost everything in an organization. There are a number of barriers to effective communication (Huczynski & Buchanan 2010). This paper intends to highlight the barriers and how three organizations (Professional Sports, Bernard Mathews, and NHS trust Hospital) have been able to handle the barriers to ensure effective communication. Barriers to Effective Communication Barriers to communication are factors that might hinder effective communication between parties in the workplace. According to Antony and MacVicar (2011), this includes language barriers, cultural barriers, organizational barriers, personal barriers, and interpersonal barriers. Other barriers to effective communication include information technology and power. Professional sports organizations in Greece, Bernard Mathews, and NHS trust hospital have had to deal with at least of the barriers. The three have employed different strategies to deal with them hence their continued success (Mullins 2005). NHS Trust Hospital Poor communication has hindered hospitals to serve customers in the desired manner. There are a number of factors that have contributed to the problem. According to Smith and Preston (1996), the nature of jobs executed by doctors and nurses has contributed to poor communication. Nurses and doctors jobs are in most cases stressful leading to their informal communication among them. It is also common to find practitioners being less polite when addressing one another. Lack of understanding of one another’s role and knowledge has also contributed to the poor communication in NHS hospital (Smith & Preston 1996). Gender differences have also been a barrier to effective communication with stereotypes being the main cause. Men practitioners seem to have less respect for female practitioners hence conflicts in communication. Research has shown that professionalism and status is also a major cause of poor communication in NHS hospital. More experienced nurses and doctors seemed to have fewer problems in building relationships and communicating effectively. This is as compared to less experienced doctors and nurses who experience a lot of problems communicating. Members of the same group in the hospital also find it easy to communicate. Smith and Preston (1996) argues that this ostensibly because of similar language, sense of belonging, and similar training. NHS has tried to deal with the barriers through the application of a number of strategies. For instance, it has tried to create good relationships among practitioners. This has been done to ensure they are able to communicate with one another with ease. It has also employed training and teaching communication programs to enhance to encourage good communication among practitioners. It is clear that nurses and doctors in the organization have found it hard to get along with one another as a result of different training (Smith & Preston 1996). It has also been suggested that the organization should implement good communication systems to aid practitioners in communication. The world has been experiencing technological advancements on a daily basis. The hospital needs to capitalize on this to be able to improve communications (Smith & Preston 1996). Bernard Mathews Farms Bernard Mathews Farms is also one of the organizations that have suffered as a result of poor or ineffective communication. Noise has been one of the major barriers to the organization’s effective communication. Specifically, the organization was affected by the noise created by the media. To be more precise, press articles published negative information about the Bernard Mathews that led to the public have a negative attitude towards it. On the other hand, the organization failed to communicate to its stakeholders or respond to the allegation in a timely to be able to set the record straight. In the essence, this left the public confused on the matter leading to the organization losing its credibility. This also led to the company losing a competitive edge on the market. Employees were also demotivated seeing their company’s name being tarnished in the media. As a result, it necessitated the need for the management to come up with strong strategies on how to enhance communication with its stakeholders (Bernard Matthews 2011). The company was committed to improving its communication not only with internal stakeholders but also external ones. Internal stakeholders include directors, managers, and employees. The company has been able to communicate effectively with its internal stakeholders through the production of multilingual weekly newsletter to all employees. This has been done to ensure employees are well aware of what is happening in the organization. The same information is made available on its intranet site. Employees can also log in to be able to access new information. Similarly, the company also provides conducts face to face meeting aimed at informing managers on the progress of the company as well as new initiatives (Bernard Matthews 2011). The company has also employed different strategies to be able to communicate with external stakeholders. This includes customers, regulatory bodies, suppliers, the community, and the government. Essentially, the company was committed to winning back the trust of its stakeholders to survive the market. One way through which this was achieved is advertising. The company has been able to use the television to advertise its products to ensure they stick in the minds of its customers. It has also made a follow to ascertain the impact of the advertisements. It is through this strategy that the company is able to explain to its customers the benefits of consuming its products. Ultimately, this also gives it the opportunity to address the negative publicity as it is able to inform stakeholders on what is really happening (Bernard Matthews 2011). Social media and the internet has also been used by the company to be able to reach out to its stakeholders. For example, the company has four websites that serve different audiences. This includes a corporate website, consumer sites, Foodservice site, and a campaigning site. It has been able to use the same to market its products as well as make its new initiatives known to stakeholders. The company has also used the media and public relations to communicate circuitously with its consumers (Bernard Matthews 2011). Professional Sport. Professional sport organizations have also faced many barriers that impede effective communication. Specifically, coaches have found it problematic to communicate effectively with their players during games. This can be attributed to them having limited time. Coaches find it hard to communicate with players as a result of the limited time they might have to transmit instructions. They have tried their best to handle the same. However, limited time remains a great obstacle (Athanasios 2005). Language has also created a barrier to effective communication in the company. Professional sports teams are normally composed of players from different countries. As such, coaches might find it problematic to communicate with them. Ability of perception and attitude also hinder effective communication. It is common knowledge that players might decode messages differently hence some may not be able to get the right information. The negative attitude among players has also created a great barrier to communication considering the fact this affects communication not only to their superiors but also other players (Athanasios 2005). There are also external factors that have hindered communication in professional sports in Canada. External factors are those that are not directly related to the players or their coach but still affect communication. For example, spectators, sports officials, and opponents also act as barriers to effective communications. This can be attributed to the noise they make during sports events (Athanasios 2005). Coaches try to ensure effective communication by asking their players to be calm and remain focused. They also try to minimize the negative influence created by outside factors. Coaches have also dealt with the problem of languages through naturalization of players. Equally, they have also ensured that their messages are short and clear to ensure every individual perceives or understands them in the desired manner. Team cohesion, fatigue, and team environment affect their attitude towards one another. Coaches have tried to deal with this through ensuring team members have enough rest and spend more time with one another (Athanasios 2005). Conclusion Communication is very essential for organizations. It is imperative for the management in different organizations to ensure effective communication for better performances. There are a number of barriers that hinder effective communication including personal barriers, language barriers, physical barriers, and gender barriers. Professional Sports, Bernard Mathews, and NHS trust Hospital have faced some of these barriers and have tried their level best to handle them to ensure their success. Communication in the Workplace Communication and its many assets are very important. In order to be successful in anything we need to have effective communication. Although effective communication is very important in today’s world we will have issues with ineffective communication, also known as barriers. To communicate you need to have a sender, receiver and a message. It is important to relay any message with accuracy, with errors we then begin to have barriers causing ineffective communication. Technology is another factor that can be helpful but needs to be used properly. In my organization we use autocratic, democratic, paternalistic and laissez-faire. We are all about rights as well as delegating things to the appropriate parties. In my opinion having a combination of all management styles is important and makes it easier when you need to adjust to the different situations. Every situation and work day (involving who you work with) can be different. You make need to be more of a laissez-faire or paternalistic manager when you work with someone who needs direction at work. In my work facility we share knowledge and anything we need, thoroughly through emails, verbally and our communication book; which in our communication book you can find a lot of different information with dates, times, descriptions, etc. The more through we are the more likely we have communicated effectively even though the receiver or receivers may not be there. To communicate effectively there are five main techniques that can help you to improve. First off there is brainstorming; when you brain storm you are just throwing ideas out there in order to get any ideas together. There are also workplace tours which can also be known as a form of training. By doing tours you can allow others to see how another spectrum does things and learn how to improve or find new ways of doing things. Stakeholder surveys and stakeholder meetings are ways of getting groups together to generate more ideas. Put simply there is the expression â€Å"two heads is better than one†. Lastly there is formal suggestion system which in turns means you are workings together to figure out what these ideas mean and if they will have any value to what you need currently. Even though we have effective communication you are still going to have ineffective communication. This can be a variety of things. The first one which can cause a vast variety of issues is our main demographics like; age, cultural background, race, gender and language. There is also noise barriers which can cause you to miss-understand or interpret your sender (person giving message) wrong. You could also be ignoring parts of the message you will be receiving and only hearing the parts you would like to hear. Communication through technology has many of these same factors. Technology can be both effective and ineffective with all of its aspects. First we have speed which with online communication and cell phones you receive the date almost instantly. Accessibility in today’s world with the internet and our vast variety of resources we can find just about anything we would like. In health care accessibility can become an issue if information is accessed by an unauthorized individual which is a violation of HIPPA. When a breach becomes known you are required by law to notify the correct officials and take the necessary steps to correct the problem. Efficiency has a lot to do with speed. You can send something as simple as an email or text to get your message to the receiver. Written communication means there is a â€Å"hard copy† of the given information you can access. As for the news it can be accessed online or via the T. V. giving you more information. In health care we need to be able to keep up with the change and communication is vital. One simple mistake can make a world of difference especially in a hospital setting. You want to take the appropriate steps to improving and ways to alter or avoid having issues with ineffective communication. As you can see communication and management are vital in today’s success. You want to communicate effectively and work on improving and getting rid of any ineffective communication issues you may have. Make sure you are using the appropriate management style for the given situations and communicate your message thoroughly to your receiver. ReferencesMcManus, K. (1998). A project management system for innovation. Journal for Quality and participation, 21(5), 60. Management Study Guide. Roles of Communication barriers in ineffective communication. Retrieved from: www.managementstudyguide.com/role-of-communication-barriers-in-ineffective-communication.htm Nelson, L. (2012). Ehow Learning. How Technology Impact Communication in the Workplace Communication and its many assets are very important. In order to be successful in anything we need to have effective communication. Although effective communication is very important in today’s world we will have issues with ineffective communication, also known as barriers. To communicate you need to have a sender, receiver and a message. It is important to relay any message with accuracy, with errors we then begin to have barriers causing ineffective communication. Technology is another factor that can be helpful but needs to be used properly. In my organization we use autocratic, democratic, paternalistic and laissez-faire. We are all about rights as well as delegating things to the appropriate parties. In my opinion having a combination of all management styles is important and makes it easier when you need to adjust to the different situations. Every situation and work day (involving who you work with) can be different. You make need to be more of a laissez-faire or paternalistic manager when you work with someone who needs direction at work. In my work facility we share knowledge and anything we need, thoroughly through emails, verbally and our communication book; which in our communication book you can find a lot of different information with dates, times, descriptions, etc. The more through we are the more likely we have communicated effectively even though the receiver or receivers may not be there. To communicate effectively there are five main techniques that can help you to improve. First off there is brainstorming; when you brain storm you are just throwing ideas out there in order to get any ideas together. There are also workplace tours which can also be known as a form of training. By doing tours you can allow others to see how another spectrum does things and learn how to improve or find new ways of doing things. Stakeholder surveys and stakeholder meetings are ways of getting groups together to generate more ideas. Put simply there is the expression â€Å"two heads is better than one†. Lastly there is formal suggestion system which in turns means you are workings together to figure out what these ideas mean and if they will have any value to what you need currently. Even though we have effective communication you are still going to have ineffective communication. This can be a variety of things. The first one which can cause a vast variety of issues is our main demographics like; age, cultural background, race, gender and language. There is also noise barriers which can cause you to miss-understand or interpret your sender (person giving message) wrong. You could also be ignoring parts of the message you will be receiving and only hearing the parts you would like to hear. Communication through technology has many of these same factors. Technology can be both effective and ineffective with all of its aspects. First we have speed which with online communication and cell phones you receive the date almost instantly. Accessibility in today’s world with the internet and our vast variety of resources we can find just about anything we would like. In health care accessibility can become an issue if information is accessed by an unauthorized individual which is a violation of HIPPA. When a breach becomes known you are required by law to notify the correct officials and take the necessary steps to correct the problem. Efficiency has a lot to do with speed. You can send something as simple as an email or text to get your message to the receiver. Written communication means there is a â€Å"hard copy† of the given information you can access. As for the news it can be accessed online or via the T. V. giving you more information. In health care we need to be able to keep up with the change and communication is vital. One simple mistake can make a world of difference especially in a hospital setting. You want to take the appropriate steps to improving and ways to alter or avoid having issues with ineffective communication. As you can see communication and management are vital in today’s success. You want to communicate effectively and work on improving and getting rid of any ineffective communication issues you may have. Make sure you are using the appropriate management style for the given situations and communicate your message thoroughly to your receiver. ReferencesMcManus, K. (1998). A project management system for innovation. Journal for Quality and participation, 21(5), 60. Management Study Guide. Roles of Communication barriers in ineffective communication. Retrieved from: www.managementstudyguide.com/role-of-communication-barriers-in-ineffective-communication.htm Nelson, L. (2012). Ehow Learning. How Technology Impact

Anthropology Essay Practicing Anthropology - 1715 Words

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