7Cs of Communication In A Business Setting.

7Cs of communication

In every human organization, the art of communication cannot be overemphasized. It is the means by which people interact and work with one another. Without effective communication, nothing can be achieved in an organization. Communication skills are important in every human endeavour, even in business.

The communication process should be able to help the sender and the recipient of the message communicate in such a way that the message is received, understood, and leads to action.

Here are the important features of business communication:

CORRECTNESS: To be correct in communication, the following principles should be borne in mind.

  1. Use the correct level of language.
  2. Include only fact words and figures.
  3. There should be proper grammar, punctuation, spelling and paragraphing.

COMPLETENESS: To bring a desirable result, the message should be complete. It should include everything the reader needs for the reaction desired.

  1. Follow all necessary information.
  2. Answer all questions asked.

CONCRETENESS: The business writing should be specific, definite, unambiguous and vivid, rather than vague and general.

  1. Use specific facts and figures.
  2. Put action in your verb.
  3. Choose vivid image building words.

CONCISENESS: Business executives are very busy people. They have less time to go through unnecessary lengthy messages. Conciseness makes the message more understandable and comprehensible.

  1. You must eliminate wordy expressions.
  2. Include only relevant material.
  3. Avoid unnecessary repetition.

CONSIDERATION: You should try to visualise your readers, their desires, problems, emotions, and possible reaction to your request.

  1. Focus on the reader instead of yourself.
  2. Show readers benefit or interest in reading.

CLARITY: The business message should be concise, complete, correct, concrete and with consideration.

  1. Check accuracy of facts, figures and words.
  2. Use the right level of language.
  3. Proper punctuation makes the writing clear.

COURTESY: This is more important and advantageous in business writing than it is in face-to-face conversation or communication. Courteous message helps to strengthen relations and make new friends. It builds goodwill.

  1. Answer your mail promptly.
  2. Use expressions that show respect.
  3. Be appreciative, thoughtful and sincerely tactful.

Components Of The Marketing Mix: 4Ps of Strategic Marketing.

The marketing mix elements.

There are 4 major components of marketing that provide the tools used to satisfy the market’s needs: These are Product, Price, Place and Promotion. The interplay of these 4 components is known as the Marketing Mix.

Products- These are goods that customers buy to satisfy their demand. How a product is sent to the market influences its package. The Mix for each product must be evaluated carefully. Market Research is essential in determining the appropriate marketing mix.

Price- Price is the amount a company charges customers for a product. The greater part of a company’s marketing effort should be aimed at making some discretion on pricing decision which can increase the perceived value benefits its market offers the buyers.

Place- It focuses on where products are sold, what distribution methods are used, where products are inventoried while waiting to be sold, and how products are transported to the customer.

Promotion- The techniques a company uses to generate customer sales, brand awareness, make up promotion. Promotion has three major goals: informing customers about the products, influencing a customer’s decision and reminding the customer of product features and availability.

The perfect marketing mix does not guarantee success; other elements come into play, enabling the company to devise a complete marketing strategy. Without demand, the product will fail. A company that needs to succeed must understand both the target market and the competitive environment. It must focus efforts to match products with customers.

Enhance Your Entrepreneurial Skill With Nigeria Youth Investment Fund(NYIF).

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nigeria youth investment fund

According to reports, The Federal Government of Nigeria has opened the portal for Nigerians to apply for its N75billion Youth Investment Fund.

Nigeria Youth Investment Fund (NYIF), is a government initiative created to boost the Nigeria economy through leverage and access to financial aid for the youths. The fund will help to unleash the potential of the Nigerian youths and enable them to build businesses which will help to lower the rate of unemployment.

On July 22, The minister of youth and sports development, Mr Sunday Dare made an announcement, stating that the Federal Executive Council(FEC), has approved the establishment of NYIF with the sum of N75billion. “The fund aims to reach 500,000 youth annually between 2020 & 2023 (3years). Each fund approval will range from N250,000 to N50,000,000 with a spread across group applications, individuals application, working capital loans set at 1 year and term loans set at 3 years with a single digit interest rate of 5%.” He said.

This fund will help the Youth to start or grow their businesses with a government-backed loan and have access to free business support.

Requirements:

  • Applicants must be between the ages of 18 and 35 years.
  • Bank Verification Number (BVN)
  • NYSC certificate for graduates.
  • Fundable Business Idea.
  • A Registered Business Entity.
  • Applicants must be Nigerian citizens.

All interested applicants should visit https://nyif.nmfb.com.ng/Applicants/New