The new development concerning management communication Essay

The new development concerning management communication - Essay Example "The meaning of my communication is the response I get." (Communication Skills - Solutions 4 Training) this quote illustrates the success of a properly managed communication process. The response generated as a result of a statement shows how good an individual in getting his point across; required diligently in the fields of marketing, advertising & successful running any type of industry. Developing sound communication skills is not a difficult task. Practice, knowledge & confidence are the key factors in this aspect. Globalization has transformed & diversified the industries around the globe making it compulsory to interact with multicultural citizens. Every company is performing multiple roles of communicator & the promoter at the same time, raising questions about * what *how & *whom to say. Organizations talk about their need for better communication skills but are unsure of how to solve the issue. Organizing interactive workshops & seminars to highlight & practice the art of c ommunication is required extensively nowadays. Whether understanding & dealing with the employees of a company, targeting an audience, projecting a concept through media; all these acts are acquired via communication. The modern times require interaction with people around the world, without the barriers of time & space. The advance technology has made it possible to communicate with individuals thousands of miles away. All this technology & modernism has changed the way of interaction. According to Philip Kotler in his book Marketing Management (564), currently there are a number of communication platforms: ADVERTISING: it is a paid promotion of ideas, goods or services, for example print & broadcast advertising, motion pictures, brochures, billboards, posters, display signs etc. SALES PROMOTION: a selection of short term enticement to endorse product sales. For example exhibitions, coupons, tradeshows, contests, complimentary gifts etc. PUBLIC RELATIONS: a variety of programs intended to promote a product or company's image. For example speeches, seminars, charity donations, sponsored events, company magazines etc. PERSONAL SELLING: confronted interaction through presentations & question answer sessions with one or more potential clients. For example sales meetings, samples, fairs, tradeshows etc. DIRECT MARKETING: communicate directly with customers through a dialog. For example mails, TV shopping, catalogs, telemarketing etc. In normal life & principally in business & industries a special communication process is followed to ensure the effective transfer of messages. The communication process is takes place between a sender & a receiver through two communication implements, message & media. In between them, are the communication tools encoding, decoding of the message sent; feedback & response from the sender after interpreting the idea. A factor present in between is noise; it is the misrepresentation of the message being sent when it's not conveyed effectively. (Philip Kotler- Marketing Management- eleventh edition, chapter 19:565) A successful management depends on how well the organizations comprehend this process & expends it in the organization & business perspectives. Dorothy Carnegie described this phenomenon in a very effective manner by saying, "Business, social, & personal

Economic Growth Essay Example | Topics and Well Written Essays - 2750 words

Economic Growth - Essay Example However, the United States still displays the highest growth rate in this period as shown in the left panel of Figure 2. The rest of the world also displayed increasing growth rate, but at a much slower pace than the seven biggest economies which resulted to a wider gap between the real GDP per person among these countries as shown in the right panel of Figure 2. The rest of Asia, on the other hand, as represented by Hong Kong, Singapore, Taiwan South Korea, and China also showed tremendous gains in their economies as shown by their real GDP per person growth depicted in Figure 3. China, the world's newest economic superpower, showed an exponential growth in its real GDP. A question, prompted by the above, is what are the underlying causes of economic growth' Furthermore, why is it that some countries grow faster than others' Is trade a major engine of economic growth' Or is it foreign direct investments' A major goal of this paper is to debate the effectiveness foreign direct investments and trade in fostering economic growth, and in the end answer the question on whether 'developing countries are right to increasingly shift resources towards attracting foreign direct investment rather than promoting trade in their objective to achieve economic growth'' Admittedly, these questions must be answered amidst ... The shift in economic policies is often on the reallocation of economic resources to finance activities geared toward attracting foreign direct investments rather than the other needs of those nations. Figure 3 Economic Growth in Asia Source: See Figure 2 Economic theories postulate that, for economic growth to be persistent economies must pursue three activities - these activities generate ongoing economic growth: saving and investment in new capital, investment in human capital, and discovery of new technologies. From these three activities emerged different economic growth theories, however, these theories are not the topic of this reading, but rather foreign direct investments and trade. International trade promotes the development of comparative advantage in the global economy, allows for the trade of similar goods - for example, United States imports automobiles and at the same time exports other types of automobiles, the diversity of taste of people is given an outlet, and economies of scale is enhanced. Trade has a very important role in promoting and sustaining long term economic growth that foreign direct investment doesn't (Kurgman and Obsfeld; Marrewijk, Ottens and Schueller). Nonetheless, the role of foreign direct investment in the development process can not be underscored either. Hence, developing countries had shifted a considerable amount of their resources into attracting foreign direct investments or FDIs. For example, in the Sub-Saharan Africa, governments have shifted policies to attract FDIs. Fiscal holidays and tax holidays are awarded generously to investors. Moreover, investors often require that the country improve its property rights in favor of the FDI and improve