Unit 4 Flashcards
Describe the steps in developing an effective network
Do an analysis - determine the objectives of enterprise
Identify a suitable network - identify the suitable network that will help your enterprise reach its objectives
Be ready to pay back - brainstorm and list ideas of what you can offer that network
Choose the best network - from all the networks identified, choose the most suitable network that will help the enterprise reach its goals
Build and maintain the chosen network
reasons to prepare a business plan
to secure funding
to attract investors
to make business planning more manageable
Data analysis
is the process of extracting useful information that will be important in making decisions
Communication
is the exchange of information
Oral communication
when communication takes place verbally
Advantages of oral communication
It is quick and effective
The response to the message is given immediately
Disadvantages of oral communication
It is not documented or recorded therefore there is no evidence communication took place
In a meeting there is no way of telling if everybody understood the information or was even listening
Written communication
when communication takes place by the means of writing
Advantages of written communication
Evidence to communication is available
Information can be sent to several people
electronic communication is instant and cost effective
Disadvantages of written communication
it is time consuming
you will have to wait for a reply
Non-verbal communication
communication takes place by means of sign language, eye contact, signs and facial expressions
Advantages of non -verbal communication
it can help tell the person about the current emotional state of the other person
sign boards are easy to understand
Disadvantages of non - verbal communication
it can be sometimes hard to interpret
it can be misleading sometimes
Internal communication
is the process of exchanging information within an organization eg. manager talking workers
External communication
is the exchanging of information between an organization and other organizations, groups or individuals outside of it’s formal structure
Negotiation
refers to the reaching of an agreement through discussion or joint decision making involving bargaining between two or more parties
Essential elements to the negotiations process
Preparation- study the other parties demands
Establishing the negotiating environment - choose an area neutral for both parties
Exploring needs - get to know the other party and what they want
Testing understanding and summarizing - find out if both parties know what the negotiation is all about
Negotiating your position - let the other party know where you stand in the negotiation
Reaching an agreement - both parties reach an agreement with is written down and signed
Three elements to negotiation
Attitude
Knowledge
Interpersonal skills - communicating clearly and effectively
Listen without interrupting
Be open to feedback
List and apply negotiation skills
Effective verbal communication - able to communicate clearly so the other party understands you
Problem solving skills - having the ability to solve problems
Listening skills - having good listening skills to avoid interrupting before responding
Decision making skills - having the ability to make effective decision making
Evaluate the effectiveness of negotiations
If both parties reached an agreement
if the negotiation was fair for both parties
If it was a win-win situation for both parties
Meeting
is the coming together of people who share common aims and objectives
Why is it important to plan for meeting
It will help the people attending to prepare for the meetings
It will help with time allocation
it will help the attending know what will be discussed
it helps the attending know what to bring along to the meeting
Elements of a meeting
notice of meeting - is a notice sent to the attendees
agenda - a document sent out on the points that will discussed
Minutes - a written document on what happened during the meeting and if important decisions were highlighted
Evaluate the effectiveness of a meeting
If aims and objectives were met
If important issues were discussed and decisions made
If all parties were involved in the meeting
if everyone is satisfied with the conclusion of the meeting
