COMMUNICATION

                          COMMUNICATION

Communication is the activity of conveying meaningful information. Communication requires a sender, a message, and an intended recipient, although the receiver need not be present or aware of the sender's intent to communicate at the time of communication; thus communication can occur across vast distances in time and space. Communication requires that the communicating parties share an area of communicative commonality. The communication process is complete once the receiver has understood the message of the sender.

1. An information source, which produces a message.
2. A transmitter, which encodes the message into signals
3. A channel, to which signals are adapted for transmission
4. A receiver, which 'decodes' (reconstructs) the message from the signal.
5. A destination, where the message arrives.

The history of communication dates back to prehistory. Communication can range from very subtle processes of exchange, to full conversations and mass communication. Human communication was revolutionized with speech perhaps 200,000 years ago ^{citation needed} Symbols were developed about 30,000 years ago ^[1], and writing about 7,000. On a much shorter scale, there have been major developments in the field of telecommunication

Ways We Communicate:

1. Talking
2. Hand Gestures
3. Colour Codes
4. Music
5. Drawings
6. Cards
7. Text Messaging
8. E-Mail
9. Telecommunications
10. Phone Call

Types of Business Communication

There are two types of business communication in an organization:

1. Internal Communication
2. External Communication

1. Internal Communication

Communication within an organization is called "Internal Communication".

It includes all communication within an organization. It may be informal or a formal function or department providing communication in various forms to employees.

Effective internal communication is a vital mean of addressing organizational concerns. Good communication may help to increase job satisfaction, safety, productivity, and profits and decrease grievances and turnover.

Under Internal Business Communication types there come;

a) Upward Communication
b) Downward Communication
c) Horizontal/Literal communication

a) Upward Communication

Upward communication is the flow of information from subordinates to superiors, or from employees to management. Without upward communication, management works in a vacuum, not knowing if messages have been received properly, or if other problems exist in the organization.

By definition, communication is a two-way affair. Yet for effective two-way organizational communication to occur, it must begin from the bottom.

Upward Communication is a mean for staff to:

o Exchange information

o Offer ideas

o Express enthusiasm

o Achieve job satisfaction

o Provide feedback

b) Downward Communication

Information flowing from the top of the organizational management hierarchy and telling people in the organization what is important (mission) and what is valued (policies).

Downward communication generally provides enabling information - which allows a subordinate to do something.

e.g.: Instructions on how to do a task.

Downward communication comes after upward communications have been successfully established. This type of communication is needed in an organization to:

Ø  Transmit vital information

Ø  Give instructions

Ø  Encourage 2-way discussion

Ø  Announce decisions

Ø  Seek cooperation

Ø  Provide motivation

Ø  Boost morale

Ø  Increase efficiency

Ø  Obtain feedback

Both Downward & Upward Communications are collectively called "Vertical Communication"

c) Horizontal/Literal communication

Horizontal communication normally involves coordinating information, and allows people with the same or similar rank in an organization to cooperate or collaborate. Communication among employees at the same level is crucial for the accomplishment of work. Horizontal Communication is essential for:

o Solving problems

o Accomplishing tasks

o Improving teamwork

o Building goodwill

o Boosting efficiency

2. External Communication

Communication with people outside the company is called "external communication". Supervisors communicate with sources outside the organization, such as vendors and customers.
It leads to better;

o Sales volume

o Public credibility

o Operational efficiency

o Company profits

It should improve

o Overall performance

o Public goodwill

o Corporate image

Ultimately, it helps to achieve

o Organizational goals

o Customer satisfaction

In short, there are four main types of communication; these consist of written, verbal,computerised and special methods. (Verbal can be split into two groups; verbal and non-verbal) Non-verbal communication involves things such as body language, crossing your arms, having your hands in your pockets, crossing your legs, eye contact etc.

WARREN BUFFET's STYLE OF INVESTMENT (How He Does It)

Did you know that a $10,000 investment in Berkshire Hathaway in 1965, the year Warren Buffett took control of it, would grow to be worth nearly $30 million by 2005? By comparison, $10,000 in the S&P 500 would have grown to only about $500,000. Whether you like him or not, Buffett's investment strategy is arguably the most successful ever. With a sustained compound return this high for this long, it's no wonder Buffett's legend has swelled to mythical proportions. But how the heck did he do it? In this article, we'll introduce you to some of the most important tenets of Buffett's investment philosophy. (For more on Warren Buffett and his current holdings, check out Coattail Investor.)

Buffett's Philosophy
Warren Buffett descends from the Benjamin Graham school of value investing. Value investors look for securities with prices that are unjustifiably low based on their intrinsic worth. When discussing stocks, determining intrinsic value can be a bit tricky as there is no universally accepted way to obtain this figure. Most often intrinsic worth is estimated by analyzing a company's fundamentals. Like bargain hunters, value investors seek products that are beneficial and of high quality but underpriced. In other words, the value investor searches for stocks that he or she believes are undervalued by the market. Like the bargain hunter, the value investor tries to find those items that are valuable but not recognized as such by the majority of other buyers.

Warren Buffett takes this value investing approach to another level. Many value investors aren't supporters of the efficient market hypothesis, but they do trust that the market will eventually start to favor those quality stocks that were, for a time, undervalued. Buffett, however, doesn't think in these terms. He isn't concerned with the supply and demand intricacies of the stock market. In fact, he's not really concerned with the activities of the stock market at all. This is the implication this paraphrase of his famous quote : "In the short term the market is a popularity contest; in the long term it is a weighing machine."(see What Is Warren Buffett's Investing Style?)

He chooses stocks solely on the basis of their overall potential as a company - he looks at each as a whole. Holding these stocks as a long-term play, Buffett seeks not capital gain but ownership in quality companies extremely capable of generating earnings. When Buffett invests in a company, he isn't concerned with whether the market will eventually recognize its worth; he is concerned with how well that company can make money as a business.

Buffett's Methodology

Here we look at how Buffett finds low-priced value by asking himself some questions when he evaluates the relationship between a stock's level of excellence and its price. Keep in mind that these are not the only things he analyzes but rather a brief summary of what Buffett looks for:

1. Has the company consistently performed well?
Sometimes return on equity (ROE) is referred to as "stockholder's return on investment". It reveals the rate at which shareholders are earning income on their shares. Buffett always looks at ROE to see whether or not a company has consistently performed well in comparison to other companies in the same industry. ROE is calculated as follows:
= Net Income / Shareholder's Equity


Looking at the ROE in just the last year isn't enough. The investor should view the ROE from the past five to 10 years to get a good idea of historical performance.

2. Has the company avoided excess debt?
The debt/equity ratio is another key characteristic Buffett considers carefully. Buffett prefers to see a small amount of debt so that earnings growth is being generated from shareholders' equity as opposed to borrowed money. The debt/equity ratio is calculated as follows:
= Total Liabilities / Shareholders' Equity


This ratio shows the proportion of equity and debt the company is using to finance its assets, and the higher the ratio, the more debt - rather than equity - is financing the company. A high level of debt compared to equity can result in volatile earnings and large interest expenses. For a more stringent test, investors sometimes use only long-term debt instead of total liabilities in the calculation above.

3. Are profit margins high? Are they increasing?
The profitability of a company depends not only on having a good profit margin but also on consistently increasing this profit margin. This margin is calculated by dividing net income by net sales. To get a good indication of historical profit margins, investors should look back at least five years. A high profit margin indicates the company is executing its business well, but increasing margins means management has been extremely efficient and successful at controlling expenses.


4. How long has the company been public?
Buffett typically considers only companies that have been around for at least 10 years. As a result, most of the technology companies that have had their initial public offerings (IPOs) in the past decade wouldn't get on Buffett's radar (not to mention the fact that Buffett will invest only in a business that he fully understands, and he admittedly does not understand what a lot of today's technology companies actually do). It makes sense that one of Buffet's criteria is longevity: value investing means looking at companies that have stood the test of time but are currently undervalued.

Never underestimate the value of historical performance, which demonstrates the company's ability (or inability) to increase shareholder value. Do keep in mind, however, that the past performance of a stock does not guarantee future performance - the job of the value investor is to determine how well the company can perform as well as it did in the past. Determining this is inherently tricky, but evidently Buffett is very good at it.

5. Do the company's products rely on a commodity?
Initially you might think of this question as a radical approach to narrowing down a company. Buffett, however, sees this question as an important one. He tends to shy away (but not always) from companies whose products are indistinguishable from those of competitors, and those that rely solely on a commodity such as oil and gas. If the company does not offer anything different than another firm within the same industry, Buffett sees little that sets the company apart. Any characteristic that is hard to replicate is what Buffett calls a company's economic moat, or competitive advantage. The wider the moat, the tougher it is for a competitor to gain market share.

6. Is the stock selling at a 25% discount to its real value?
This is the kicker. Finding companies that meet the other five criteria is one thing, but determining whether they are undervalued is the most difficult part of value investing, and Buffett's most important skill. To check this, an investor must determine the intrinsic value of a company by analyzing a number of business fundamentals, including earnings, revenues and assets. And a company's intrinsic value is usually higher (and more complicated) than its liquidation value - what a company would be worth if it were broken up and sold today. The liquidation value doesn't include intangibles such as the value of a brand name, which is not directly stated on the financial statements.

Once Buffett determines the intrinsic value of the company as a whole, he compares it to its current market capitalization - the current total worth (price). If his measurement of intrinsic value is at least 25% higher than the company's market capitalization, Buffett sees the company as one that has value. Sounds easy, doesn't it? Well, Buffett's success, however, depends on his unmatched skill in accurately determining this intrinsic value. While we can outline some of his criteria, we have no way of knowing exactly how he gained such precise mastery of calculating value. (To learn more about the value investing strategy of selecting stocks, check out our Guide To Stock-Picking Strategies.)

Conclusion

As you have probably noticed, Buffett's investing style, like the shopping style of a bargain hunter, reflects a practical, down-to-earth attitude. Buffett maintains this attitude in other areas of his life: he doesn't live in a huge house, he doesn't collect cars and he doesn't take a limousine to work. The value-investing style is not without its critics, but whether you support Buffett or not, the proof is in the pudding. As of 2004, he holds the title of the second-richest man in the world, with a net worth of more $40 billion (Forbes 2004). Do note that the most difficult thing for any value investor, including Buffett, is in accurately determining a company's intrinsic value.

Drop your comments and suggestions and let's get talking......Thank You

RECOGNITION AND PROMOTION

Ever wonder why some people get promotions and recognition and some don't? Or, have you considered how you might increase your chances for promotion and recognition as an excellent performer? Of course, there's no simple answer to these questions. People are promoted for a number of reasons, some fair and reasonable, and some not - that's life. Still, if you want to enhance your opportunities in your organization and want to move up the ladder and have increased responsibilities, there's one important strategy I can share with you. It's simple on the surface, but not quite as simple in practice. Here's the strategy:

Start Doing Your Boss's Job

Here's how it works. The person most helpful or harmful in terms of getting a promotion is your immediate supervisor. He or she is the person who can help or hinder. What determines which it will be? Well, certainly your performance is important. But it's all about perceptions. You can create positive and powerful perceptions on the part of your boss by making his or her life easier. It's that simple. If you can:
reduce your boss's workload
eliminate hassles the boss is concerned about
prevent problems the boss is normally responsible for

you become more useful to the boss. That's a good thing and tends to get noticed.

Of course it isn't quite so simple. While you want to be useful to the boss, you don't want to usurp the boss's responsibilities. A great way to dead-end yourself is to take on some of the boss's job when your boss doesn't want that to happen. So, you have to know your particular boss well enough to know what you can do and what your boss doesn't want you to do. We call that knowing the limits to your authority and your action.

Here as some tips to help you out:

Get to know your boss well enough to understand what drives him or her nuts about the "boss job". A good way of thinking about it is to ask yourself: "What kinds of problems nag at the boss?
Examine whether you can do anything from your position in the organization to help address the boss's "drive me crazy" problem (often there will be).
Decide whether you should do something to help or not. If you know the boss well enough, you will probably also know what the limits on your authority and actions might be. Still, it's always good to check it out, and offer the solution to the boss beforehand, and if necessary, request permission to get it done. That makes it less likely the boss will feel you are encroaching on his or her territory.
Don't do any of this so that it appears you are trying to "score points", or manipulate the boss. Do it because you want to contribute to the best of your ability and with the attitude that if nobody notices, that's fine, provided it makes people's jobs easier. (This is a mindset to prevent your being seen as a selfish, manipulative employee.

There's never any guarantees in life, so I can't provide a guarantee here. But I will say that almost ALL of the people I have seen fast-tracked in organizations exhibit the ability to make their boss look good and make the boss's life easier.

And the great thing about this? Everybody wins. The organization becomes more effective. You do a good job. And your boss's life is just a wee bit easier.

CREDIT; work911.com

BIBLICAL SUCCESS......The Ultimate Success

Hi pals let's take a look at this blog about suceeding GOD's way.These biblical prosperity principles will not work without two major ingredients – Faith and Trust. Faith and trust cannot be forsaken for the quest of wealth. What good would it do a man to gain the whole world and to loose his soul in the process? It is not wrong to seek success and wealth. It is wrong to have those as your primary intention.

Christ told us to seek first the Kingdom of Heaven (Matthew 6:33) and then all of these other things will be added to us. Understand and take to heart that Christ comes first. Seek Him, seek His wisdom and his guidance. When Christ comes first, success is added to you.
When Solomon had the opportunity to ask God for anything that he wanted, he chose wisdom. Take his example. Seek wisdom and riches will follow. Proverbs 4:7 says “Wisdom is supreme. Seek understand at all cost.




One example that has been used to degrade biblical prosperity principles and those who teach them is in 1 Corinthians 8:9

“For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sakes he became poor, so that you through his poverty might become rich.”

How this is a rebuttal can only be understood by misinterpretation. They emphasize that rich, as applied to us (believers), means rich in faith. I totally agree. If these harbingers of doom and gloom would only study before jumping to conclusions, they might be able to prosper as well.

Christ chose to appear poor. He could never “be” poor. He owns everything! He chose to appear poor for the sake of those who have been taught that success, wisdom and wealth are beyond their reach. If He had come as a wealthy person, the poor would have rejected Him. He came as a humble man with no visible means to reach the masses.

How then do these biblical prosperity principle work? In this verse it states that “yet for your sakes he became poor, so that you through his poverty might become rich.” Rich in FAITH? Absolutely!
What is faith? The most accepted definition is in Hebrews 11:1
“Now faith is the substance of things hoped for,
the evidence of things not seen.”

This is the same faith in which we are to be rich. This is the same faith that caused Jesus to choose to appear poor so that we could become rich. Let’s look closely at this.

“Now” – this doesn’t mean later, tomorrow, a year from now or yesterday. It mean right now at this moment in time.
“faith” – in which we are to become rich and by which we can become rich.
“is” – not was, not might be, not could be. A present action of being.
“the substance” – a substance is a physically measurable thing. It has a physical presence.
“of things hoped for” – What are those physical things that we hope for?
“and the evidence” – According to Webster’s dictionary evidence is that which tends to prove or disprove something; ground for belief; proof, something that makes plain or clear; an indication or sign.
“of things not seen” – Things that exist but we have not seen.
Let’s recap this. Jesus came appearing poor to reach the masses of people who are poor (not to keep them poor) so that they could become rich in faith. So that they could become rich in the “substance of those things hoped for and the evidence of those things that they have not seen or experienced.”

It is not money that is evil. It is the pursuit of money for money’s sake that leads men away from Christ. Man’s desire for money makes him focus all of his attention on gaining wealth.

To acquire the wealth that God has already provided for us, we must have all of our faith in Christ. He must be the primary objective. We must seek a close and deep relationship with Him. When we seek wealth for our own greed, we open ourselves to the lust of the eye, the lust of the heart, the lusts of this world and the pride of life.
We must first have faith only in Christ and trust Him to provide everything else. Faith and Trust.

Integrity and Honesty

Integrity is the ability to tell yourself the truth about a situation, and honesty is the ability to tell another person the truth about a situation. As humans, we are to have both. Do you have all? Then work on it.

Elikem's Notes'

Reputational Equity

Hi pals, today's blog is on personal branding with more emphasis on reputational equity.
This 21st century is characterised by the establishment of more companies and firms to meet this changing world. As a result of that, there is the need for each of these firms to brand themselves to meet those changes.
Corporate reputations are under greater scrutiny than ever before and recent turmoil in international markets has seen some of the world's most well-known brands decimated.

Now stakeholders are turning their attention to the boardrooms, for reassurance that the principles of sound corporate governance are applied to the protection and nurturing of brands, widely regarded as organisations' most important assets. Legislation and regulatory moves has further forced the valuation and management of reputational equity onto the agenda, with research (1) confirming the loss of corporate reputation now rated the greatest risk facing businesses.

 Whether your requirement is 24/7 board-level rapid-response incident support and counsel or a wider risk mitigation and strategy review, The Communications Business’ team of senior advisers has a long-standing track-record in building and protecting reputations of UK and international market leaders.Here are a few ways to gain reputational equity and make yourself stand out in relation to corporate reputations and brand

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• As the saying goes ''a good name is better than riches'', it is incumbent on every one to live a life worthy of emulation and not to be a social misfit. Your reputation has to be enviable, with this, you would have increased fame and higher value, positive references and opportunities,goodwill and above all recognition and promotion. Ways to build this enviable reputation is by commiting to excellence in anywork you do, keeping the right company, and being consistent.
• ''You must modify your dreams or magnify your skills'' this was said by Jim Rohn, an A merican motivational speaker. You must identify the critical skills required in what you want to do, coduct a self-assessment for that,team up and synergise with others and get a mentor.
• Never become so much of an expert that you stop gaining expertise, view life as a continuous learning experience.Keep on seeking for information and learning.
• Maya Angelou said, One isn't necessarily born with courage, but one is born with potential.Without courage, we cannot practice any other virtue with consistency.We cannot be kind, true, merciful, generous, or honest.This attest to the fact that we need to gain courage and conviction in everything we do.
• There is the need to know how to communicate anytime and anywhere as a person.You need to become aquainted with presentation skills and public speaking.
• Fairness, Honesty, Respect, Diligence, Trust,Faithfulness, Conviction, Persistence, Humility and Thankfulness must be your hallmark

THESE TRAITS WHEN ADHERED TO, WOULD MAKE ONE STAND OUT IN EVERYTHING HE OR SHE DOES...

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THOUGHTS AND CHARACTERS

Thought and Character

The aphorism, "As a man thinketh in his heart so is he," not only embraces the whole of a man's being, but is so comprehensive as to reach out to every condition and circumstance of his life. A man is literally what he thinks, his character being the complete sum of all his thoughts.
As the plant springs from, and could not be without, the seed, so every act of a man springs from the hidden seeds of thought, and could not have appeared without them. This applies equally to those acts called "spontaneous" and "unpremeditated" as to those which are deliberately executed.
Act is the blossom of thought, and joy and suffering are its fruits; thus does a man garner in the sweet and bitter fruitage of his own husbandry.
Thought in the mind hath made us. What we are
By thought we wrought and built. If a man's mind
Hath evil thoughts, pain comes on him as comes
The wheel the ox behind . . . If one endure in purity
of thought joy follows him as his own shadow - sure.
Man is a growth by law, and not a creation by artifice, and cause and effect is as absolute and undeviating in the hidden realm of thought as in the world of visible and material things. A noble and Godlike character is not a thing of favor or chance, but is the natural result of continued effort in right thinking, the effect of long-cherished association with Godlike thoughts. An ignoble and bestial character, by the same process, is the result of the continued harboring of groveling thoughts.
Man is made or unmade by himself; in the armory of thought he forges the weapons by which he destroys himself. He also fashions the tools with which he builds for himself heavenly mansions of joy and strength and peace. By the right choice and true application of thought, man ascends to the Divine Perfection; by the abuse and wrong application of thought, he descends below the level of the beast. Between these two extremes are all the grades of character, and man is their maker and master.
Of all the beautiful truths pertaining to the soul which have been restored and brought to light in this age, none is more gladdening or fruitful of divine promise and confidence than this - that man is the master of thought, the molder of character, and maker and shaper of condition, environment, and destiny.
As a being of Power, Intelligence, and Love, and the lord of his own thoughts, man holds the key to every situation, and contains within himself that transforming and regenerative agency by which he may make himself what he wills.
Man is always the master, even in his weakest and most abandoned state; but in his weakness and degradation he is the foolish master who misgoverns his "household." When he begins to reflect upon his condition, and to search diligently for the Law upon which his being is established, he then becomes the wise master, directing his energies with intelligence, and fashioning his thoughts to fruitful issues. Such is the conscious master, and man can only thus become by discovering within himself the laws of thought; which discovery is totally a matter of application, self-analysis, and experience.

Only by much searching and mining are gold an diamonds obtained, and man can find every truth connected with his being if he will dig deep into the mine of his soul. And that he is the maker of his character, the molder of his life, and the builder of his destiny, he may unerringly prove: if he will watch, control, and alter his thoughts, tracing their effects upon himself, upon others, and upon his life and circumstances; if he will link cause and effect by patient practice and investigation, utilizing his every experience, even to the most trivial, as a means of obtaining that knowledge of himself. In this direction, as in no other, is the law absolute that "He that seeketh findeth; and to him that knocketh it shall be opened"; for only by patience, practice, and ceaseless importunity can a man enter the Door of the Temple of Knowledge.

Credit: James Allen