Communication, the exchange or sharing of information, is arguably the most important element of well-functioning communities and organizational success. There is a cost to both great communication and lack thereof. For example, the super-productive exchange of ideas and the creation of plans to bring them to fruition is very resource intensive. The time spent by several individuals brainstorming and hashing out strategies, all of whom are being paid to contribute, can be a sizable investment. Conversely, failure to collaborate can result in incalculable consequences, such as abysmal performance, poor execution, misguided assumptions, and organizational conflict. It is a prevalent mistake for managers and leaders to overlook these costs or take them for granted. The best organizations consider the cost and deliberately choose how to communicate in different situations with the objective of achieving the best return on their investments in their information exchanges.
In a typical business environment, people communicate both synchronously and asynchronously. Similarly, BMI and its clients utilize a variety of collaboration methods and communications channels through which information is exchanged, including:
BMI refers to the variety of ways through which we interact with stakeholders as Natural Business Communications (NBC). That is, we endeavor to recreate the communications environment to which people are accustomed, employing a variety of the common (or "natural") mechanisms that are best suited to various situations.
These channels differ in terms of their effectiveness and efficiency. There is an inverse correlation between communication effectiveness and efficiency; as effectiveness increases, efficiency decreases, and vice versa.
Effectiveness is a measure of the clarity of shared messages, as well as the congruence between intention and perception. The more ambiguous or subject to interpretation a communication method is, the less effective it is.
Efficiency is a measure of the expenditure of resources necessary. The more time, energy, money, specialized knowledge, space, and equipment/tools spent in the communication process, the less efficient it is.BMI encourages its stakeholders to consider the importance of specific communication, along with the relative probability of misunderstandings when choosing a channel or method through which we share information. Novel concepts, those with precise details and highly nuanced matters are better shared with an emphasis on effectiveness, as opposed to efficiency (direct, video, granular documents, etc.). Whereas, basic or simple information should be shared in the most efficient ways (e.g. forms, text, etc.).
Examples of Information Necessitating Effective Communication Channels:
Examples of Information Better Shared Through Efficient Communication Channels:
Collaborators are wise to weigh the costs of communication options, give due consideration to which communications channels are best suited to specific use-cases, and employ these methods accordingly to achieve the best ROI.