The Impact of Modern Business Communication Samples for Students

Question: What is Social Contract in Accounting ? Answer: Introducation The necessity to disclose all the information, whether it is financial or nonfinancial or managerial, needs to disclosed in the financial statements of the company. This financial statement tells about the financial performance of the company for the reporting period and the financial position of the company as on date. If the financial or nonfinancial information is not presented in the true and manner then the users of the financial or nonfinancial information will end up with making incorrect decision which may lead to the inappropriate functioning of the company. Through this literature review two factors have been discussed one is the guiding factor and other one is the motivating factor. The guiding factor is referred to as the social contracts ad motivating factor is referred to as the legitimacy theory. The structure of the literature review has been started with the origin of the social contracts and what circumstances has happened which have led to the introduction of social contracts in every field ranging from the earlier period of Monarchism to this current period of marriage or any other contract. The social contract has been very well explained and laid down by the two great philosophers of that time namely Thomas Hobbes and Jean Jacques Rousseau. Both have explained in different manner but the conclusion of both the theories is the same. Then in the second part the legitimacy theory has been explained in detail. It includes its meaning and majorly its application in the environmental and social factors. Then its relation in the accounting field has been laid down and discussed. In the third section of the review the relevancy and the importance that the social contracts have towards the legitimacy theory in accounting have been detailed and discussed. This is the main aim an d also the purpose of the conducting the review. After that, the conclusion has been given detailing the overall findings and the conclusions there from. The study has then ended up with the synopsis of the overall literature review. Synopsis The topic of the review is significance and use of legitimacy theory in accordance with the social contracts. It signifies that the more importance has been given to the social contracts than the legitimacy theory of accounting. It is because of the fact that the social contract has been prevailing since the beginning of the humanity and it has been extended during the period of world war and development of historical moments and it has been more emphasized during the period of enlightenment. During this period the philosophers have started thinking of every development and started researching on that development as why it has happened and what are the outcomes of that development. The main aim of the literature review is to understand the term and relevance of social contracts and legitimacy theory in accounting. The second major aim is to lay down the factors as to why the social contracts have relevance in the legitimacy theory of accounting. The purpose of the review is to equip the readers with the importance of both the concepts in the todays world and how both have become the guiding and motivating factor for the managers working in the company. With this aim the review has been bifurcated into different sections and parts. References Burlea S, (2013), Legitimacy Theory available on https://www.researchgate.net/publication/303928907_Legitimacy_Theory accessed on 18/05/2017. Baker E, (2014), Social Contract, Essays by Locke, Hume and Rousseau Read Books Ltd., p 40 -42 Cruess R L, (2010), Expectations and obligations: professionalism and medicine's social contract with society. Perspectives in Biology and Medicine, 51, 581-592. Deegan, C. (2012). Introduction: The legitimising effect of social and environmental disclosuresa theoretical foundation.Accounting, Auditing Accountability Journal,15(3), 284-309. Donaldson T, Preston, L. E, (2015), The stakeholder theory of the corporation: Concepts, evidence, and implications Academy of management Review 20(1), 67-89. Dunfee T W, (2009), Integrative social contracts theory Economics and philosophy11(01), 88 -110. Elahi M, (2010), What is Social Contract Theory available at https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=15cad=rjauact=8sqi=2ved=0ahUKEwipipyCoO3TAhXIqI8KHXhSBrIQFghzMA4url=http%3A%2F%2Fwww.sophia-project.org%2Fuploads%2F1%2F3%2F9%2F5%2F13955288%2Felahi_socialcontract.pdfusg=AFQjCNEcYcluj-6Uu9cqabXu74HtJmE2pQsig2=Fbncb8iwPyPfPXma3NihEA accessed on 18/05/2017 Frazer, M. L. (2017). Ryan Muldoon, Social Contract Theory for a Diverse World: Beyond Tolerance, Routledge, 2016, 131pp, $140.00 (hbk), ISBN 9781138681361 Notre Dame Philosophical Reviews. Friend C, (2016), Social Contract Theory, available at https://www.iep.utm.edu/soc-cont/ accessed on 18/05/2017 Freeman, R. E (2010). Stakeholder theory: The state of the art. Cambridge University Press.,p7 Jos, P. H. (2009). Social contract theory: implications for professional ethics. The American Review of Public Administration, 36(2), 141-154. Laplume O, (2008) Stakeholder theory: Reviewing a theory that moves us Journal of management 34(6), 1178-1188. Leeson, P. T. (2009). The calculus of piratical consent: the myth of the myth of social contract. Public Choice, 139(3), 443-459. Leonard, D. K., Samantar, M. S. (2011). What Does the Somali Experience Teach Us about the Social Contract and the State?. Development and Change, 42(2), 559-584. Mkel, H., Nsi, S. (2010). Social responsibilities of MNCs in downsizing operations: A Finnish forest sector case analysed from the stakeholder, social contract and legitimacy theory point of view Accounting, Auditing Accountability Journal, 23(2), 154-144. Makarkin A,(2011), The Russian social contract and regime legitimacy International Affairs 87(6), 1470-1473. Mccarthy, D J, Puffer, S. M. (2008) Interpreting the ethicality of corporate governance decisions in Russia: Utilizing integrative social contracts theory to evaluate the relevance of agency theory norms. Academy of Management Review, 33(1), 23-29. Patten M (2012) Intra-industry environmental disclosures in response to the Alaskan oil spill: a note on legitimacy theory. Accounting, organizations and Society, 17(5), 472-474. Rosenfeld, M (2014). Contract and Justice: The Relation between Classical Contract Law and Social Contract Theory. Iowa L. Rev., 70, 769. Smith C, (2009) Social contracts and marketing ethics The Journal of Marketing, 18-29 Skyrms, B. (2014) Evolution of the social contract. Cambridge University Press, p 4-5 The Impact of Modern Business Communication Samples for Students Question: What is the Impact of technological Changes On Business ? Answer: Introduction Technology has transformed our lives to the point where we barely appear to notice it any more. We are surrounded by technology; it is everywhere around us in all the things that we do, from electricity powering in our houses to the wireless broadband that we use on our desktops, laptops, mobile phones tablets. The modern development in technology hassled to our devices becoming faster, smaller more mobile. It is possible to call anyone sitting in any part of the globe talk to them through video link on the screen of a tablet or a mobile phone. However, as considerable as technology has altered the way we personally communicate, it has truly transformed the business communications; this essay will discuss the various ways this has happened what the implications for business are (Innis, 2010). Impact of Technological Changes on Business Environment Changes in technology have impacted nearly every part of our lives. The credit goes to the advancement in computer science communication, almost everything that a person imagines is only a few clicks away from him/her. For example, making a video call to the parents living abroad or watching a television series on the mobile devise even when a person is travelling is possible with the help of technology that is there in our lives today. Beyond these changes in our personal lives, technology has also changed the pace the dace of how the business is conducted. Business processes have been altered companies are now working with much more efficiencies than they ever used to do in past. At the same time, technology has opened a new way of communication, letting businesses to collaborate communicate across borders (Schramm, 2014). It is quite sure that technology has transformed companies in a surprizing way. Mobile devices such as tablets smart phones merging with power of internet have reformed the way in which work is conducted. All the written memos, faxes phone calls have been replaced by E-mails. Tablets smartphones can help an individual in connecting to their business network while they are out of their offices, letting them to reply swiftly. For example storing crucial files on a cloud based computing systems instead of in the PCs has made the information effortlessly accessible at anywhere at any point of time. Moreover with the assistance of technology, virtual companies are now a reality. The internet has permitted organizations to build geographically apart teams to work like a unified, single company. All instant messaging tools, cloud computing systems video conference calling have simplified the processes of business. The outcome is the better productivity competences in many scenarios (Berlo, 2009). While discussing about technology its constituents which assist the organizations to change how they develop, it is essential to focus a few words about cloud computing as well. As most of the people are aware that using cloud based computing system could have several benefits advantages for the company which assist to have competitive advantage over their competitors. Dropping costs, becoming more approachable to the consumers, growing the flexibility scalability are the ones which could be easily thought. So with the assistance of the cloud almost anything, even the organization itself can considerably change. Possibly one of the most significant technological change has permitted businesses is to connect with their consumers in a new style commonly using social media platforms such as Instagram, Twitter, Facebook LinkedIn. For example, via LinkedIn, companies are able to connect to different business networks attempt generating new revenue streams. With the help of Twitter Instagram organizations can stay pertinent in mind of the customer assist to solve their issues in their business interactions with the company. Information Technology or Information Communication Technology Commonly ICT is often used as a comprehensive synonym for Information Technology; however ICT is normally a more broad term which strains the role of integration communications the incorporation of middleware, computers, telecommunications (wireless signals phone lines) as well as essential audio visual systems, storage software which allows users to manipulate, transmit, store, access create information. In simple words, Information Communication Technology comprises of Information Technology as well as Telecommunication, broad cast media, all categories of audit visual processing broadcasting network based monitoring control functions. Aspects of Technological Communication Electronic Mail Services: When the Interned was first recognized (as ARPHANET) in late 1960s, the scholars that were working in it momentarily understood the requirement for a means to coordinate their determination of using the network. It was out of this requirement in 1972 that one of the scholars working on the project of ARPANET (i.e. Ray Tomlinson) build the first email application. The first email program that was designed was able to selectively read messages from the list, file, respond forward messages. Communication through internet has made a massive development since then, with the whole lot of things from chat rooms, all the way to video conferencing which in replacing over the earlier technologies over internet. Internet: By the end of this century, information, containing internet access, will be the foundation for political, economics personal advancements. The widely held name for Internet is the information super highway. Whether you are looking for the updated financial news, joining an active political debate, exchanging information with co-workers or browsing through library catalogues, the internet is the toll which will take you beyond isolated computers, faxes telephones to a growing networked information frontier. Voice Mail: It is also called as voice bank or voice message, its a computer grounded system which permits subscribers users to exchange personal voice messages; to process transactions; to select deliver voice information involving individuals, services, products organizations, using a regular telephone. Voice mail is moreover used more generally to signify any system of transmitting a stored telecommunications voice messages, comprising an answering machine. Maximum of the mobile phone service providers offer voice mail as an elementary feature, many organization consists of versatile internal voice messaging servicers *99 vertical service code subscription is accessible to maximum people small firms land line subscribers. Mobile services: The influence of mobile collaboration technology is important in its potential to change the way individuals work. Live visual communication eliminates traditional limitations of time distance. Business processes are enhanced by augmented issue resolution, drops in travel downtimes, progress in customer service better productivity (Steven, 2013). Aon- Company Overview Aon Plc is a foremost global provider of reinsurance, insurance risk management brokerage human resource solutions outsourcing services. The company employee more than 78000 employees throughout the world, Aon unites to empower results for its clients in more than 124 countries through effective innovative people risk solutions by industry leading technical global expertise. The organization has been named continuously as the worlds best: insurance intermediary, broker, captives manager, employee benefits reinsurance intermediary consulting firm by the numerous industry resources. Business Communication Tools used by Wipro Yammer: It is social internet software which has been adopted by Aon to engage create interests amongst the employees. It is just similar to social networking sites like Twitter Facebook. These numerous features of social internet software develop more effective internal communication in the organization. Everybody is able to contribute share ideas while feeling like a part of community. Instant Messaging services: Aon uses IM services provide by Microsoft, which accommodates a variety of media types comprising video video conferencing. These services have also been incorporated into existing services helping employees teams to quickly bring each other to communicate when required. Social intranet software Yammer is also incorporated with chat functions. Video Conferencing: The traditional use of video conferencing in the boardroom has been replaced with video enable tablets mobiles which permit employees management of Aon to call wherever whenever required. These web based video conferencing tool has made it easier for the teams at Aon to meet in a virtual rooms which has tremendously improved the collaboration efforts (Baluska Volkmann, 2016). Opportunities Created for Modern Business Technology continuously remains in the state of advancement, growth evolution. Technological forward movements in the area of one filed impacts the other fields as well. During the last 20 years technology has progressed intensively at a very fast pace in numerous areas. These developments have impacted the concerned field as other fields as well. In todays time organizational communication is dependent completely on technology similarly by the expansion in other fields. The greatest impacted scopes of business communication are as follows: Speed: Development in technology is accelerating not merely the business communications however also the business itself. These days, there is no necessity to wait for money in the form of cheques other time taking methods. Just some clicks over the PC or mobile phones is able to transfer the money from one to another account at any time of the day, i.e. 24*7. Purchase orders for raw materials, services products can be places processed online avoiding time saving for employees for some other work. Accessibility: Technology has significantly improved business communication accessibility, because of the things such as instant messaging, text messaging, emails smart phones; it is possible to send information instantly anywhere to anyone. Though this is capable of accelerating business communication, it can also lead work to be all incorporating, potentially having an adverse effect on individual lives. Global Partnership: Technology has brought the world closer, particularly in the framework of business. Individuals from diverse culture interact on a recurrent basis. These have developed quite more viable as things such as video conferencing has enabled meetings which cost much less to conduct instead of flying halfway around the globe. This has also enforced the business communication to develop livelier, as people from diverse cultures practice to accommodate for a communicative cultural differences in their organizational relationships (Shannon, 2009) . Challenges Created for Modern Businesses Communication is one of the significant components of success of an organization. Communication is deliberated as the nervous system of the body which gives the feelings of life to the company despite having communication; no organization would be able to function. Or operate. In past few years business communication has transformed progressed as an outcome of the advancement development in technology that has transformed the complete communication concept. In contrast to past, today there are numerous means ways of communicating that there had been 20 years back. Usage of newest communication devices is becoming essential nearly universal in all kinds of business, which might be large, medium or small one. Today organizations use a diversity of communication modes to share receive the data information to keep the processes function smoothly keep individuals informed. Individuals involved in business recognize the importance of effectiveness, time worthiness, accuracy clarit y while communicating with customers, employees, other stakeholders public. Below are few current challenges that organization faces: Assortment of social groups technology: Each person has a unique frame of references which allow them to determine how the world is seen by them, particularly in the technological development era. Diversification in religion, ethnicity, gender, age other elements build diverse style of perception for a received message via dissimilar technologies. These variations assist employees to get more solutions to the table. However, such variations can lead receiver to understand messages contrarily than the sender proposed or create with dissimilar prospects. Remote field employees: Organizational communication channels must stay open to the individuals that are far from their offices, like remote marketing/sales person that working away in the field. The challenge rises amongst the organizations which are involved in global or multi-national corporate. Cross cultural communication enhances diverse time zones, distance, business standards languages to harden the already difficult equation (Montana, 2008). Always changing advance technology: All the latest means of communication like mobile devises, web interactions, social media emails assist individuals to communicate with individuals across the world at high speed. However, technology could similarly make special encounters. Information which is not delivered face to face lacks non-verbal communication signs which an individual receives from body language facial expressions. Online supplied information could be reflected out of context the sender might not be capable of clarifying the message swiftly. Technology assists clusters to communicate via teleconferences web conferences, however, telephone static, time zones supplementary technical glitches can develop difficulties for effective communication (Paul, 2015). Conclusion Hence, we can conclude that technology has transformed the face of business communication by making it more integrates, much efficient faster than ever before. References Baluska, F.; Marcuso, S.; Volkmann, D. (2016). Communication in plants:neuronal aspects of plant life. Taylor Francis US. p. 19. ISBN 3-540-28475-3. Berlo, D. K. (2009). The process of communication. New York, New York: Holt, Rinehart, Winston. Innis, H. A. (2010). The bias of communication. Toronto: University of Toronto Press. Montana, P. J. Charon, B. H. (2008). Management. 4th ed. New York. Barron's Eucational Series. Paul Martin Lester, Visual Communication with Infotrac: Images with Messages, Thomson Wadsworth, 2015, ISBN 0-534-63720-5. Schramm, W. (2014). How communication works. In W. Schramm (Ed.),The process and effects of communication, Urbana, Illinois: University of Illinois Press. Shannon, C. E., Weaver, W. (2009). The mathematical theory of communication. Urbana, Illinois: University of Illinois Press Steven L. (20013). InfoCulture. New York: Houston Miflin Company.