The True Value and Importance of Communication

communicating coworkers

Communication is extremely valuable in all relationships and in almost every setting. If you want to have a successful relationship with your spouse you must be able to communicate effectively with each other. If you want to have a positive relationship with your children, then you have to learn to communicate with them. Communication in the business world is just as important. As a business leader you must be able to communicate with your team and vise versa. It’s also important to have strong communication with your customers. The fact is, no matter what type of relationship it is, effective communication is going to be part of any recipe for success.

Ajay Banga and the Value of Communication

That point was driven home by Ajay Banga, president and chief executive officer of MasterCard, during an interview at an event at Stanford back in 2014. In addition, to being the CEO, Mr. Banga is also a member of the company’s board of directors. Before joining MasterCard, Mr. Banga was CEO of Citigroup Asia Pacific.

Listen and Learn

According to Mr. Banga, the importance of communication in the business world cannot be understated. “If you know how to communicate well, which by the way is the most underrated attribute when you’re young, but the most important attribute as you grow, is your communication,” then the opportunities are endless. Mr. Banga said that another important lesson he has learned is that if you have the drive and the passion to succeed, along with the ability to communicate well, “then there’s a whole new world out there.” Another important aspect of communication is effective listening, which is what takes to be able to learn from others. Mr. Banga said, the best way to be successful when starting a new relationship with a company is to “take the approach that you can learn from everybody. They’ve all got something they can teach you, and then you can bring the value you bring. But you’ve got to learn from everybody.” When you go about starting a new business relationship in this manner, Mr. Banga said, “It changes everything.”

Recipe for Success

This is the true recipe for success when it comes to communication. You have to be willing to listen to, and learn from, others and then share what you know with them. Learning the true value and importance of communication when you’re young can play a huge role in helping you develop and grow in your business career and opportunities, which will lead to real and lasting success.

Posted in

Does Your Company Need a Fairness Opinion?

Does Your Company Need a Fairness Opinion? Although not required by statute or regulation, fairness opinions have become an important component of the board of directors and executives deliberation process as they seek to satisfy their fiduciary duties to shareholders and act with due care in an informed manner. Fairness opinions are prepared for and…

Tax Record Retention Guide

Storing tax records: How long is long enough? Tax Record Retention April 15 has come and gone and another year of tax forms and shoeboxes full of receipts is behind us. But what should be done with those documents after your check or refund request is in the mail? Federal law requires you to maintain…

OWNING A-COMMERCIAL-PROPERTY-MAKE-YOU-MORE-MONEY-IN-REAL-ESTATE-INVESTMENT-groco-cpa-firm

3 Reasons Why Owning a Commercial Property May Make You More Money in Real Estate Investment

Making a Commercial Property Investment If you ever have been a landlord for residential property, I am sure that you get complaints from tenants about leaking roofs in the middle of the night. But what keeps most people back from investing in commercial real estate is the fear of the unknown since not many of…

section 1045 rollover; business

Sec 1045: Small Business Stock Rollover of Gain

The Beauty of Section 1045 Enacted as part of the Taxpayer Relief Act of 1997 (effective for sales after August 5, 1997), a taxpayer other than a corporation may elect to roll over capital gains from the sale of qualified small business stock held for more than six months if another small business stock is…