How to effect “Effective Business Communication?” Communication is an entity much talked and debated about in corporate management circles. The question is, have you really understood what the term ‘Communication’ means, how it has evolved over all these years and the impact it creates in an organization? Well, communication is nothing but the transfer or exchange of information from one end to another end, from one user to another user or from sender to receiver to put it straight. Is that it- No! If the process could be as simple as it sounds, there should be no conflicts, no difference of opinions and no mis-understandings in this world. Are we witnessing such a peaceful scenario; In particular, office atmosphere sometimes becomes unbearable thanks to ‘clash of the so called intellectual titans’ fighting over a simple issue which could be solved by discussing it over a cup of good coffee. Now, coming back to the point, the process of communication involves the following steps, Sender- Message- Receiver I’m not quite convinced with this explanation, are you? Let us rewrite it like this, Sender- Message- Medium- Receiver- Interpretation- Feedback This somewhat makes sense because only when the message intended is interpreted rightly so by the receiver or the target, the process of communication gets completed. In olden days when only sign language was the norm of the day, people still communicated precisely through pictograms, cave paintings, ideograms and sign language. This was a form of restricted communication as people had to go to that particular place to see the message. The process of evolution has led us to what we call verbal communication, the highest form of exchanging information. More sophistication has been innovated in the technological sphere and now I’m able to write to you and publish this article from an Apple IPad, of course with references made from the web in a jiffy. Types of communication Three types of communication are present VerbalNon-verbal andWritten. Interpersonal communication is contextual: In other words, communication does not happen in isolation. There is: Psychological, which is your persona and what you bring to the interaction. Your needs, desires, values, personality, etc., all form the psychological context. (“You” here refers to both participants in the interaction.)Relational context, which refers to your reactions to the other person–the “mix.”Situational context deals with the psycho-social “where” you are communicating. An interaction that takes place in a classroom is entirely different from one that takes place in a bar.Environmental context deals with the physical “where” you are communicating. Furniture, location, noise level, temperature, season, time of day, all are examples of factors in the environmental context.Cultural context includes all the learned behaviors and rules that affect the interaction. If you come from a culture (foreign or within your own country) where it is considered rude to make long, direct eye contact, you will out of politeness avoid eye contact. If the other person comes from a culture where long, direct eye contact signals trustworthiness, then we have in the cultural context a basis for misunderstanding. Three Approaches in Communication: Linear approach: Correct communication in this perspective causes the desired effect.Production of exchange and meanings: Communicating through signs and the process of extracting meanings from these messages is called “Signification”. The interpretation can lead to very different but equally valid outcomes.How communication is used to construct our social reality: We constantly share ideas with people around, thereby constructing, re-inforcing or de-constructing our identities. This perspective sees communication as the binding force of any culture, group or society. Source- coursera.com The Semantic Noise: Another important concept in communication is the semantic theory. It is nothing but the noise created in the...

Digital Marketing Quotes 50 You call it Digital marketing, Content Marketing, Social-Media Marketing or Online Marketing; all boils down to “I want more traffic. I want to get noticed, I want more sales, I want more conversions.” Social media marketers and strategists are sure about two things. One is to focus on the emotional component of your target demographic, to understand their wanton and preferences and two to satisfy search engines through quality content and engagement. Can you strike a deal? The following digital marketing quotes have been compiled intending to give a clear picture about the current trends in digital marketing that may help newbies to understand the “What is What” of online marketing. Afterall quotes are sayings with experience and value attached to them. “As you go about creating new customer engagement programs and direct marketing packages for your brand, look for opportunities to give rather than to get. Whoever makes the first kind gesture, as studies show, tends to gain the most.” Jeanette McMurtry “Innovation needs to be part of your culture. Consumers are transforming faster than we are, and if we dont catch up, we’re in trouble.” Ian Schafer “We want to know what consumers are looking for, what their values are, and how can we meet their needs. It’s not just about Big Data; it’s about translating that into the truth.” Gayle Fuguitt “Dont say anything online that you wouldn’t want plastered on a billboard with your face (or logo) on it.” Erin Bury “To accompany the four Ps of classical marketing, marketers would do well to instil the digital four Cs, around conversation, collaboration, culture and compensation.” Zaid Al-Zaidy “Authenticity, honesty, and personal voice underlie much of what’s successful on the Web.” Rick Levine “It’s much easier to double your business by doubling your conversion rate than by doubling your traffic.” Jeff Eisenberg “Meaningful relationships are two-way, and that means constantly looking for ways to improve your customers lives.” Peter Friedman “Too often we tend to think of change in a very singular mindset, technology. But technology is not the real issue, not the root cause. It’s an effect, for sure… [but] the real driver of societal change is society itself, not your smartphone.” John Hayes, CMO at American Express, on how marketers interpret changes in what customers want “The data comes into the room from many sources, and you have to use that data like a modern-day orchestra leader, blending the inputs in real time in a combination that is as much an art as a science.” Louis Paskalis “On a broad scale, I see seo becoming a normalized marketing tactic, the same way TV, radio, and print are traditionally thought of as marketing tactics.” Duane Forrester, Senior Product Manager, Bing “The future of SEO is here: understanding and marketing to specific and defined audiences through search engines.”  Adam Audette, Chief Knowledge Officer, RKG “Social is the way our work gets discovered. Content that is truly exceptional, unique, and useful can earn tremendous awareness through social media, and that social amplification often leads to great links, which leads to great rankings.” Rand Fishkin, CEO/Co-Founder, Moz “We should be thinking about social and search as channels that need a unified approach, because the best content should appeal to both channels and the cross-over benefits/economies of scale are potentially huge.” Will Critchlow, Founder, Distilled, Inc. “Social media is about connecting with customers in a meaningful way – a way the customer determines is meaningful.” Duane Forrester, Senior Product Manager, Bing “Companies are rushing headlong into content today, and rightly so. It’s a battle to get noticed online amidst the noise and crowds.” Adam Audette, Chief Knowledge Officer, RKG “A company that builds a loyal social following has a built-in army...

Women today are disrupting industries, creating innovative products and ultimately, transforming the world. By laying their own rules when it comes to starting up and pursuing the entrepreneurship route, these new generation women entrepreneurs across the world are increasingly proving themselves in almost every walks of life.  Here are some quotes from womenpreneurs to inspire the upcoming young generation to succeed as business owners. You better be your own boss and discover the thrills and challenges that come along… “The only thing stopping you from achieving what you want is you. Women have the capacity to do whatever they  want, and they should fight for it. – Roshini Sharma, bike rider extraordinaire … “I don’t know how to give up. That is an integral part of who I am. – #Arpita Ganesh, ButterCups … “Rule number one of being stylish – be an inventor of your own style. – Masoom Minawala, Style Fiesta … “I attribute my business acumen to my gut feel. – Anita Dongre, ADIL … “Getting out of your comfort zone will take you through the best of learning experiences. – Pramad Jandhyala, Latentview … “We hear a lot about ‘aam aadmi‘ (common man). Why not ‘aam ladki‘ or ‘aam aurat’? – Karnika Kahen, Gesture Graphics … “The gender equation in the workplace flips when you see women come up to the fore confidently. – Tina Garg, Pink Lemonade … “Fitness is far more than just how you look. It includes strength, flexibility, stamina, endurance, high energy levels and much more. – Namrata Purohit, Pilates coach … “Entrepreneurship can be very, very demanding and challenging. Unless you are totally, madly and completely in love with challenges please don’t get into it. – Srijata Bhatnagar, EthnicShack … “You never lose in business, either you win or you learn.” — Melinda Emerson, the “SmallBizLady”… “I am not satisfied in making money for myself. I endeavor to provide employment for hundreds of the women of my race.” — Madam C.J. Walker… “My husband always tell me that I’m the most unrelenting person he’s ever met, and it’s true. If I make a commitment to something I will stick to it no matter what.” — Jenny Craig… “It is within everyone’s grasp to be a CEO.” — #Martha Stewart… “It was a risk. I had my husband and I was pregnant with my oldest son. But I don’t look at risk the way other people do. When you’re an entrepreneur, you have to go in feeling like you’re going to be successful.” — Lillian Vernon… “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard.” — Estée Lauder… “I don’t believe in failure. It’s not failure if you enjoyed the process.” — Oprah Winfrey… “If you push through that feeling of being scared, that feeling of taking risk, really amazing things can happen.” — Marissa Mayer… “Define success in your own terms, achieve it by your own rules, and build a life you’re proud to live.” — Anne Sweeney… “We need to accept that we won’t always make the right decisions, that we’ll screw up royally sometimes—understanding that failure is not the opposite of success, it’s part of success.” — #Arianna Huffington… “The question isn’t who is going to let me; it’s who is going to stop me?” — Ayn Rand… “I learned to always take on things I’d never done before. Growth and comfort do not coexist.” — Virginia Rometty… “What I learn from talking to so many women around the world: If you can empower them with the right things, the right tools, they can lift up their...

What is Long Term Financing? It is a form of financing that is provided for a period of more than a year to those business entities that face a shortage of capital. Before delving into the advantages of long term financing I would like to present you few fascinating facts on the economy that will blow your mind. Dell “has spent more money on share repurchases than it earned throughout its life as a public company,” writes Floyd Norris of The New York Times.According to Forbes, if a Google employee passes away, “their surviving spouse or domestic partner will receive a check for 50% of their salary every year for the next decade.”Start with a dollar. Double it every day. In 48 days you’ll own every financial asset that exists on the planet — about $200 trillion. Wow…According to Bloomberg, “Americans have missed out on almost $200 billion of stock gains as they drained money from the market in the past four years, haunted by the financial crisis.The “stock market” began in May 17th, 1792 when 24 stock brokers and merchants signed the Buttonwood Agreement.The Securities Exchange Act of 1934 creates the Securities and Exchange Commission, charged with the responsibility of preventing fraud and to require companies provide full disclosure to investors.Wall Street was laid out behind a 12-foot-high wood stockade across lower Manhattan in 1685. The stockade was built to protect the Dutch settlers from British and Native American attacks. Sources of Long Term Finance Long-term loans (External)Issue of shares or equitySale and leaseback (Internal)Retained profit Examples of long-term financing include – a 30 year mortgage or a 10-year Treasury note. Financial Markets and Securities Purpose of Long Term Finance To finance fixed assets.To finance the permanent part of working capital.Expansion of companies.Increasing facilities.Construction projects on a big scale.Provide capital for funding the operations. Factors determining Long-term Financial Requirements Nature of BusinessNature of Goods producedTechnology used Long term finance for businesses A Clear Perspective on Break Even Analysis Let us look at some of the Advantages of going for a Debt Financing Option Debt is the cheapest source of long-term financing. It is the least costly because interest on debt is tax-deductible, bondholders or creditors consider debt as a relatively less risky investment and require lower return.Debt financing provides sufficient flexibility in the financial/capital structure of the company. In case of over capitalization, the company can redeem the debt to balance its capitalization.Bondholders are creditors and have no interference in business operations because they are not entitled to vote.The company can enjoy tax saving on interest on debt. Disadvantages of Long Term Debt Financing Interest on debt is permanent burden to the company:  Company has to pay the interest to bondholders or creditors at fixed rate whether it earns profit or not. It is legally liable to pay interest on debt.Debt usually has a fixed maturity date. Therefore, the financial officer must make provision for repayment of debt.Debt is the most risky source of long-term financing. Company must pay interest and principal at specified time. Non-payment of interest and principal on time take the company into bankruptcy.Debenture indentures may contain restrictive covenants which may limit the company’s operating flexibility in future.Only large scale, creditworthy firm, whose assets are good for collateral can raise capital from long-term debt. Financing through Debt Vs Equity There are a number of ways to finance a business using debt or equity. Though the first choice of  many small-business owners would be equity, they may also prefer to utilize some type of debt to fund the business rather than take on additional investors. When done the right way, long-term debt financing provides a number of advantages to the business and its owner. Term Loans from Banks Most banks provide term loans,...

Top Ten Tips for First Time Managers Everybody wants to become a leader. You may vie for it, I might die for it; but in reality not everybody can make a good leader. Leadership does seek persons who are unique in their own way. One unique element which I’ve noticed in managers or leaders is that when they enter the work place, they bring along with them a kind of aura that has the power to make others submissive and polite. Not to say they are over-powering but definitely the sub-ordinates would love to greet their heads with such vigor so as to be in their good books combined with a sense of loyalty laced with respect. This session talks about “First Time Managers” who have reached the position by chance or choice and the etiquettes needed to be bestowed upon that position. 1. Learning is Eternal: “கற்றது கைமண் அளவு, கல்லாதது உலகளவு –This quote by the famous Tamil lady poet Avvaiyar who lived in 13th century reminds you “What you have learned is a mere handful; what you haven’t learned is the size of the world” and exhibited at NASA. It can also be written as “Known is a drop, unknown is an Ocean.” See how appropriate she is in indicating the finer points in our lives- just because you are a team leader or a manager does not mean that you are near perfect. You may be lacking the self-confidence to lead a team or you might be falling short in communicating clearly with the team down the line. It is always better to play along with the team, understand their psychology and at the same time exercise your rights at the right spots. You will stand to gain so much by being flexible and empathetic. 2. Communication is the Key: Here I want to take the help of the ManagementGuru Peter Drucker who prescribed the medicine for better management which is “Management by Objectives.” Keep your team fully informed of project goals, priorities, and all-important deadlines and also involve them to set short term goals. A periodical review of the goals and results would put them in place and make your work easy. Effective communication makes you trust worthy in the eyes of your team, also provides clear direction and a sense of belongingness. 3. Inspire your Team: Passion is one element that is infectious and the other being smile. If you are passionate and sincere in your work, the enthusiasm flows like honey on ice-cream all over the workplace. A good manager creates that “Feel-Good-Factor’ whenever he is around. It is his confidence, emotional stability, communication and determination that gets carried on facilitating effective accomplishment of the enterprise goals. An infographic from AN ETHICAL ISLAND– A great guide for leaders and managers…   4. Be a Friend: Efficient managers understand the pulse of work-force just from their body language and communicating styles. It becomes difficult sometimes to read between the lines when employees are hard nuts to crack and would not explicitly convey or talk about important issues that are bothering them. This may be due to fear, anxiety or peer pressure.  These are the times when a manager has to behave like a friend in listening to them patiently to understand the crux of the problem so as to find a suitable solution. 5. Spontaneous appreciation and Mild Criticism: Think about the happiness you derive when somebody appreciates you for a good effort or achievement. The same applies to your team also, right! Appreciation for the sake of appreciating will fetch you only negative results, it has to be spontaneous. Even a mild nod of approval, a...