communication process of ecg
TRANSCRIPT
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A study on
East coast group&
Its communication process
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Report on
East Coast Group & its Communication
Process
Submitted to:
Mostafa Monzur Hasan
Lecturer
Department of Finance
Faculty of Business Studies
University of Dhaka
Submitted by:
Amir Hossain Nadim
On behalf of the group.
17th Batch
Date of Submission: 28-04-2011
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We are -
3
SerialNo.
Name Roll No.
1. Amir Hossain Nadim 17-0012. Md.Enayet Hossain 17-007
3. Shougata Saha 17-0134. B.M. Rayhanul Islam
Bejoy17-065
5. Jannatul Ferdous Turna 17-073
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Letter of Transmittal
28th April, 2011
Mostafa Monzur Hasan
Lecturer
Department of Finance
University of Dhaka
Subject: Submission of a report
Dear Sir,
Here is our report on Communication Process of East Coast
Group as you assigned us. It is a great pleasure for us to submit
this report.
This report discussed about the communication process of East
Coast Group, in their functional level. This study has greatly
helped to realize the communication system of an organization.
To make this report effective, effort is devoted to a degree, asyou instructed. We hope you will appreciate the sincere effort.
Very sincerely yours,
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Amir Hossain Nadim
Roll No. : 17-001
On behalf of the group.
Acknowledgement
It is a great honor for us to submit this report to our
respected teacher Mostafa Monzur Hasan, Lecturer ofFinance Department. At first we want to convey our thanks
and gratitude to her for assigning us to prepare report
entitled, Communication process in East Coast Group.
We are grateful to MD. Mustafizur Rahman , Head of
Finance for his cordial assistance. He provided us the
required documents we needed. We also thank the IT
department.
All of the efforts ended at a desired point for the co
operation and hard work, sincerity and seriousness of our
group members. So all of them as well as our group
members are worth of pure compliment.
All the group members of group the group.
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8.3. Barriers 178.4. Percentage of expense in
External Communication18
9. Routine Communication 1810. Preference of Media 1911. Strategies followed by ECG for
developing effectivecommunication
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12. Conclusion 20
1. Introduction
East Coast Group emerged as one of the fastest
growing business conglomerates in Bangladesh. The
maiden journey was started having a lone company
as its trading area focusing on oil & gas business
which is still soaring as the flagship business of the
group.
Trading mainly in petroleum, crude oil and basestock followed by their transportation in early
eighties and rest of the companies with diversified
portfolios gained momentum in nineties. The group
became active in different areas of business
starting from trading in bank commodities to
investing in manufacturing real estate, financial
intermediaries, bank and insurance sector. Thegroup farther expanded its areas of operation to
aviation business and development of power
stations.
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Subsequently and investment arm was stretched
having a merchant banking license to handle groups
an house asset management functions including
developing its business as independent financialintermediary. In order to capitalize, trading
activities bank in a totally liberated consumer
market, a distribution company was launched lately
for import and distribution of brand products in the
high end of segment.
2. Objectives
The report is prepared primarily for the fulfillment
of the class requirement of Department of Finance,
University of Dhaka.
The secondary objective of this report are listed
below-
To know the communication processfollowed by East Coast Group.
To identify various aspect for improving the
communication process.
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Suggesting strategies to improve
communication process.
It will also enable us to improve our skills
on report writing. As corporate executive
put great value on report writing as an
important element in organization success,
this part of the course will prepare us to
face the future challenges of corporate
world.
To meet the curiosity in this stated subject.
3. Methodology
Research methodology: To collect information, the
following techniques of researches were used-
Collecting Data : Information was
collected through face to face
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interview as well as from official
website of East Coast Group.
Analyzing Data & presentation of the
Fact: sector wise portfolio was made.Moreover the accumulated findings
have been systematically presented
throughout the report.
4. Scope of the study
The study covers the communication process of East
Coast Group along with some recommendations to
improve the communication process of the group.
5. Limitations
There are some limitations that we have faced
during preparing the report. They are-
Unavailability of genuine information
Lack of available information source
Inexperience of the researcher
Lack of time
This report is mostly text based
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6. Communication process of
East Coast Group (ECG)
Communication plays a vital role for properly
accomplishing business deals. The business has to
communicate constantly for performing his various
business functions such as production, distribution
and other related works. So, for performing their
business functions successfully and to the goals of
organization East Coast Group (ECG) maintain a well
communication system. For smooth functioning of
their business they communicate with the people of
the organization and continue regular transmission
of information with the party concerned staying
outside the business. Actually, their business
communication is done for achieving the internal
and external goals of their organization.
7. Internal communication
The communication which takes place with an
organization is called internal communication. It is
a communication within an organization may be
priors, downwards to subordinates, or horizontal topeers be through formal channels established
among employee. East Coast Group maintains their
internal communication. The internal
communication is occurred in two ways-
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Communication with sub-ordinates
Communication with superiors
7.1. Media of Internal
Communication
East Coast Group use various media for
communicate with the superiors and the sub-
ordinates. For communicate with the sub-ordinates
they use Bulletin Boards, Company periodicals &
employee handbooks, Letters & memos, Telephone
(Intercom), E-mail, Instruction manual, Meeting,
Report etc. Sometimes they also apply training
course.
Bulletin board: East Coast Group Use bulletin boardas their employees typically congregate, and to
keep them up to date.
Company periodicals: This media is very effective. It
is sent to the sub-ordinates by peon or other media
by the authority concerned.
Letters & memos: East Coast Group most frequently
used letters & memos. Especially among
departments they use memos, which provide a
format of concise message.
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Telephone: For quickly transferring the message
they use telephone (Intercom) inside the office
building.
Meeting & report: Sometimes they call for meeting& present report about their company to inform the
sub-ordinates.
The above Medias are mostly used by East Coast
Group.
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Figure 1: Meeting among the
superiors
For communicate with the superiors the sub-
ordinates of the company use Reports, Complain &
suggestion box, Informers, Direct communication
etc.
Reports: Sometimes the sub-ordinates of East Coast
Group prepares report for the superiors to inform
messages and submit the report.
Complain & suggestion box: Boxes for depositing
complaints and suggestions are available in East
Coast Group. There is a schedule and procedure for
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collecting and reviewing the suggestions and
complaints established.
Informers: Sometimes the sub-ordinates of East
Coast group supply information to manager, eithervoluntarily or by request. Coworkers resent this
method of upward communication.
Direct Communication: Sometimes the lower level
employees of the company establish direct
communication with their superiors on important
and urgent issues at their initiatives.
7.2. Feedback
East Coast Group gets sufficient positive feedback
from the employees as the company expected. For
their effective communication process they can
achieve successfully their organizational goals.
Beside this, they are trying to make job satisfaction
for the employees.
Both the superiors and the sub-ordinates of East
Coast Group trying to co-operate each other which
is a good example of feedback.
7.3. Barriers
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In the way of the communication East Coast Group
faces some problems. They are-
Sometimes the negligence of the authority
concerned that has the responsibility toinform the command of the superiors to the
sub-ordinates, make delay in the
communication process.
Occurrence of technological problem.
Excessive expense for using the media.
7.4. Adaptation
To make understand the organizational purpose,
functions, deals and other systems the superiors
of the company try to adapt with the sub-ordinates.
They give importance to adaptation as they believe
that it is important to realize the organizational
goal all the employees and staff member of the
company. So they try to adapt with the sub-
ordinates along with all the members of the
company.
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7.5.Percentage of expense in
Internal Communication
Figure 2
8. External Communication
Communication network not only formed within the
organization but also outside an organization. When
a network is formed with the members of severalother organizations it is called external network.
East Coast Group dependent on outside
communication to generate the business that
enables them to survive, grow and profit. Because
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internal communication is important in terms of
efficient management and operation of the
business, but external communication is clearly
essential, East Coast Group Maintain externalcommunication with importance.
8.1. Media for External
Communication
External Communication has a strong role in
fulfilling the demands of a concern as well as in
reaching targets. East Coast Group follows some
medium for communicate externally that are-
Telephone, Website, Internet, Exchanging letters
and by participating in social works.
Telephone: One of the modern devices ofestablishing communication with outsiders is
telephone. East Coast Group uses telephone to
communicate with the externals.
Website: East Coast Group uses website facilities
which are less costly, sophisticated and effective
media of exchanging for external communication.
By opening website, information is kept readily
available for the inside and outside users.
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Internet: East Coast Groupcommunicates with theoutsiders staying at any place in the world by the
means of computer connected with internet.
Exchanging Letters: It is another popular andprevalent method of communication to East Coast
Group to communicate with the outsiders.
8.2. Feedback
For an organization the externals are the customersand clients of the company, suppliers and other
professionals. Their Feedback is very important for
an organization. Because their feedback will
increase the companies goodwill and profit. For this
reason East Coast Group try to use the media for
external communication effectively. And the
feedback of the external is as follow theirexpectations. Thats why East Coast Group is a
renowned company in Bangladesh.
8.3. Barriers
In the way of external communication East CoastGroup faces some problems. They are-
Excessive expense for using the media
Occurrence of technological problem.
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Lack of proper adaptation.
8.4.Percentage of expense in
External Communication
Figure 3
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9. Routine Communication
Routine communication takes place for performingroutine or day-to-day works of an organization.
Daily functions of East Coast Group such as file
working, giving instruction to the sub-ordinates,
telephone call, writing letters etc. For their routine
communication they use bulletin boards, letters &
memos, telephone, informers etc.
An effective routine communication is very
necessary for an organization. East Coast Group
tries their level best to make effective their routine
communication.
10. Preference of Media
In the communication process of East Coast Groupthey use different types of media. But there are
some media that are used mostly. For internal
communication they like to use-
Telephone
E-mail
Letters &memos
Instruction manual
Complain & suggestion box
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Informers
For external communication East Coast Group
preferred to use-
Telephone
Website
Internet
Exchanging letters
Though some of those media are expensive andsometimes they face technological problem but
those media are effective and fast communication
media.
11. Strategies followed by ECG
for developing effective
communication
Besides company periodicals East Coast
Group try to publish employee handbook
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ECG tries to established information racks
in their office.
They are trying to establishing loud speaker
facilities.
ECG tries to developing reliable information
source.
To avoid the technological problem they
take help of the experts.
To keep up to date with modern businesscompetition ECG updated their website
regularly and connected to the internet.
12. Conclusion
While we were preparing the report, we have seenthat East Coast Groups communication strength is
very high & this is the secret of their recent
marvelous organizational performance. We think it
was possible only for their efficient communication
process and the proper use of communication in
functional ways. This organization is much more
effective than others to identify the weakness it
carries as well as to solve them very effectively. The
performance of East Coast Group is quite
satisfactory. Obviously it strives for the best
excellence in the modern business.
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