Sunday, April 17, 2016

Synthesis Post: The importance of communication in business field


Main point: Skills being learned in Public Relations course helps Financial Analysts to succeed


Public Relations
Financial Analysts
·         Four Essential Steps for PR Professions:
“RACE”
1.      Research: Know about your customers, e.g. social background, personalities, which helps PR people to adjust themselves when they communicate with customers
2.      Action: Make a plan. Testing your plan before actually start doing it
3.      Communication: Talk about your plan with your customers. Customers have the right to follow the plan or not, but PR people should tell customers about the consequences of every decision they make.
4.      Evaluation: How did we do? Evaluation helps PR people make improvements. Also it helps PR people to act better next time.
·         Writing skills: “Bad writings shut credibility, instead, qualified writings stand out (Open Post #6).” Knowing how to write is not just enough, more importantly, who you are writing to? Who is your audiences? Should always put yourself in audiences’ shoes to target your audiences.
·         Engagement
·         Communication skillsà Knowing your customers goals and needs
·         Analyze/Research: Analyzing customers’ financial systems is the second important thing that financial analysts should do
·         Engagement:
1.      In PR field, selling products is important, but getting engaged is way more important than just being able to sell companies’ goods (Open Post #9).
2.      Engaging with customers would help financial analysts knowing more about their customers. Getting familiar with customers’ personalities helps analysts to make accurate analysis which would reduce risks for both customers and companies.
3.      Writing skills: For financial analysts, it is normal to attend meetings and write reports. Qualified writings is essential for analysts. Reports should be clearly pointed out the financial issues that customers have and give customers professional ideas about what they should do next step. 


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