Communication Process of ECG

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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 -

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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


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


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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Documents

Communication Process of ECG