COMMUNICATION AS A CORE COMPETENCY FOR ENTREPRENEURS

Group 5
Aishwarya Kirthivasan (PGP28237) Anju Gothwal (PGP28250) Bharti Yadav (PGP28239) Natrajan Besra (PGP28228) Pramesh Chand (PGP28276) Muhammed Rijas (PGP28240) Sruti PujarI (PGP28249)

Communication
Communication is the exchange of thoughts, messages, or information, as by speech, visuals, signals, writing, or behaviour.

Who is an entrepreneur?

An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.

Case In Point

Muhammad Yunus Founder, Grameen Bank

Muhammad Yunus Grameen Bank

Bangladeshi Banker, Economist, Nobel Peace

Prize Recipient Author of Banker to the Poor Grameen Bank Established in 1983, Microfinance organization, community development bank Zero collateral-small loans Village phone program, struggling members program 2565 branches; 24703 employees Grameen Bank-Only business corporation to win a Nobel Prize

FACETS OF ENTREPRENEURIAL COMMUNICATION

Customers and Consumers Employees

Stockholder Communication Crisis Communication

Consistency With Business Strategy

Communicating Value

Customers & Consumers

Consumer Preference Based Communication

Effective Twoway Communication

EMPLOYEES
Synchronizing organization & employee goals Employee engagement

Building trust

Listening to your employees

STOCKHOLDERS
Communicating business strategies Evoke interest & enhance comprehension Communicating goals & accomplishments Incorporating needs & wants

CRISIS COMMUNICATION
Proactive mode of management

Addressing, explaining & mitigating crisis

Fast, responsive & accurate

Retaining stakeholder faith