One of the biggest challenges in a geographically dispersed company is to facilitate effective communication. Companies use a plethora of communication tools - emails, instant messenger applications, telephones, and video conferencing. Although each communication tool has its own merits, using videos and videoconferencing allows individuals to foster a level of personal connection, unmatched by any other communication medium except in-person meetings.
There is no doubt that conducting in-person meetings is the best form of communication, however, it is monetarily not feasible to allow professionals to fly across continents for each meeting. Large companies can save millions spent on business travel allowances, if they mandate the use of video conferencing in lieu of foreign business trips. Also, there is a time delay associated with each business trip made to attend a meeting. On the other hand, using a video camera or an advanced video conferencing platform, colleagues can communicate with each other instantaneously.
On a different note, companies should also video as a means to communicate their value preposition to potential clients. By creating intelligent videos about the company's unique products/services, and cost/quality superiority over other competitors; a company can greatly enhance the stickiness of their sales presentations. These videos can be made in-house by the Marketing/Communications team or outsourced to third-party vendors who create such sales presentation videos.
Publicly-listed companies can also use video to broadcast and archive the investor presentations made by the executive management at investor summits and annual/quarterly shareholder meetings. Companies that use videos for investor presentations stand to benefit from increased shareholder confidence. Ultimately, increased shareholder confidence translates to better stock valuations for the publicly-listed companies.
Top executives of companies that have thousands of employees can ill-afford frequent in-person meetings with front-line managers and employees because executives are time strapped to fully cover even the executive management agenda. However, executives can use videos to communicate their thoughts on the vision, plans, and performance of the company. Such videos can be archived on the intranet, and accessed by employees across all hierarchical levels per their convenience.
Finally, companies can use videos to increase the effectiveness of their strategic planning process. By allowing geographically dispersed management cadre to participate in strategic planning meetings through video conferencing, companies stand to benefit from the unique insights of country-managers and frontline staff. These insights better inform the formulation of company strategy by reducing information gaps across geographies and hierarchies. They also increase the probability of successful execution of selected strategies.
There is no doubt that conducting in-person meetings is the best form of communication, however, it is monetarily not feasible to allow professionals to fly across continents for each meeting. Large companies can save millions spent on business travel allowances, if they mandate the use of video conferencing in lieu of foreign business trips. Also, there is a time delay associated with each business trip made to attend a meeting. On the other hand, using a video camera or an advanced video conferencing platform, colleagues can communicate with each other instantaneously.
On a different note, companies should also video as a means to communicate their value preposition to potential clients. By creating intelligent videos about the company's unique products/services, and cost/quality superiority over other competitors; a company can greatly enhance the stickiness of their sales presentations. These videos can be made in-house by the Marketing/Communications team or outsourced to third-party vendors who create such sales presentation videos.
Publicly-listed companies can also use video to broadcast and archive the investor presentations made by the executive management at investor summits and annual/quarterly shareholder meetings. Companies that use videos for investor presentations stand to benefit from increased shareholder confidence. Ultimately, increased shareholder confidence translates to better stock valuations for the publicly-listed companies.
Top executives of companies that have thousands of employees can ill-afford frequent in-person meetings with front-line managers and employees because executives are time strapped to fully cover even the executive management agenda. However, executives can use videos to communicate their thoughts on the vision, plans, and performance of the company. Such videos can be archived on the intranet, and accessed by employees across all hierarchical levels per their convenience.
Finally, companies can use videos to increase the effectiveness of their strategic planning process. By allowing geographically dispersed management cadre to participate in strategic planning meetings through video conferencing, companies stand to benefit from the unique insights of country-managers and frontline staff. These insights better inform the formulation of company strategy by reducing information gaps across geographies and hierarchies. They also increase the probability of successful execution of selected strategies.
