Updated June 18, 2021. 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, customers and vise versa. The fact is, no matter what type of relationship it is, clearly understanding each other is a key 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 leadership attribute when you’re young, but the most important attribute as you grow,” 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, “then there’s a whole new world out there.” Another important aspect is effective listening, is learning 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 job or 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 this when you’re young can play a huge role in helping you develop and grow in your career, opportunities and lasting success.
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