Effective communication is a vital skill that facilitates the accurate exchange of thoughts, ideas, and information between individuals or groups. For communication to be truly effective, it must encompass three essential qualities: clarity, conciseness, and courtesy.
Clarity ensures that the message is easily understood and free from ambiguity. It involves using precise language, structured thought, and avoiding jargon that may confuse the receiver. A clear message minimizes the chance of misinterpretation and helps in achieving the intended outcome efficiently.
Conciseness refers to conveying the intended message using the fewest possible words without sacrificing its meaning. It eliminates redundancy and focuses only on essential points. Concise communication saves time, maintains the listener's attention, and improves overall productivity.
Courtesy is a crucial but often overlooked component of communication. Courteous communication involves respecting the recipient’s views, being polite in tone, and demonstrating empathy and sensitivity. It promotes goodwill and ensures that even in disagreements, the conversation remains respectful and constructive.
In practice: Consider a workplace scenario—if a team leader gives feedback that is direct, to the point, and respectfully worded, the team is more likely to receive it positively and act upon it. In contrast, a message that lacks courtesy, even if it is clear, might lead to resentment or conflict. In summary, communication that is clear, concise, and courteous is more likely to be received well, foster mutual respect, and lead to productive outcomes.
Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows:
(i) Trisha's share of profit was entirely taken by Shanu.
(ii) Fixed assets were found to be undervalued by Rs 2,40,000.
(iii) Stock was revalued at Rs 2,00,000.
(iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement.
(v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be.
Prepare Revaluation Account and Partners' Capital Accounts.