Communication Style using the communication style survey
A person's communication style is a product of emotional intelligence (Stein, 2017). According to (Kaplan 2019: Topic 3), individuals must be true to their personal values, in order to become authentic communicators. A communication styles inventory (CSI) is used, to assist people discover their communication strengths. The CSI also, increases the awareness of communication styles and behaviors, where the range of communication behavior is presented in Table 3:
(Source: Kaplan, 2019: Topic 3)
Based on the CSI filled survey/questionnaire filled, the score obtained for each communication style are:
Expressiveness: 2.75
Preciseness: 2.5
Verbal aggressiveness: 1.625
Emotional: 1.75
Impression management: 2.25
Now, these scores will be analyzed, using the communication style profile, shown in Figure below:
(Source: Kaplan, 2019: Topic 3)
Based on the above score, it can be said that as the score for expressiveness, the score calculated is 2.75, which is near to 3. This shows that I am neither extrovert, nor reserved, and act according to the situation. Similarly, the score for preciseness is 2.5, it can be said that I am a human, i.e., sometimes, my communication style is very professional, appropriate and effective, while sometime it is less effective. Or people perceive it to be ineffective or less authentic. My verbal aggressiveness score is 1.6, which is near to agree, i.e., my communication style has been perceived to be sarcastic, humiliating and threatening, by my co-workers. My emotional score is calculated to be 1.75, i.e., 2, which is agree on the scale. Therefore, it can be said that I remain stresses, angry, or in bad tempered. Or people perceive this to be my communication style or personality trait. Lastly, Impression management score is calculated to be 2.25. Impression management is a process of influencing others or managing social interactions. This means that other people think, that I try to control other’s perceptions and impose my decisions.
Implications of communication style and other’s perception
Based on the above results, it can be said that I Have two strengths, that are Preciseness and Expressiveness, therefore, I need to improve these, as it will have a positive impression on others and on my personality. While, aggressive behavior, emotional and impression management are found to be my weaknesses, based on the CSI scores, which has negative implications. As, people (bosses and sub-ordinates) perceive that I have a temperament issue, and I try to influence others and become abusive aa a manger, which can ultimately impact the career path and success ladder. These scores will help me, to improve my weakness and polish my positive side.
Assessment of Clients and colleagues, based on Bias Identification Quiz and BIT Orientation Quiz
The importance of heuristics and biases is linked to the human information processing model. Now, the key aim is to develop a tool, that will assist financial advisers, in identifying biases between their decisions and clients' judgments/decisions. Therefore, this section will record and analyze results/responses received, by clients and colleagues, for both the questionnaires.
Bias Identification Quiz
Responses and Practical Explanation
A bias identification quiz will be used, a diagnostic tool, which assesses 20 common investor decision-making biases, filled by me and my two colleagues. This will help me to asses and identify a range of biases, among a broader group of individuals (Source: Kaplan, 2019: Topic 4). According to the responses received, it can be said that every client responds differently. In this case, all three respondents, relied on financial advisor, rather than their own biases or understanding, based on the detailed evaluation presented question wise, in the appendix part.
Based on the responses received, it can be said that the human information processing model, is an effective tool, used to check consumers rehearsed decisions, which are directly related to the influences of heuristics and biases and other behavioral patterns. Therefore, financial advisors must use this tool, to understand the biases and other psychological patterns of their investors. It will provide a realistic picture to the financial adviser, where he can diagnose biases present in his/her decisions and gaps between their and their clients’ decisions, in order to design reasonable solutions.
BIT Orientation Quiz
Responses and Practical Explanation
This is the tool used to identify different types of customer segments. The BIT orientation questionnaire helps to create a high-level profile of the individual consumers who represent a particular sector. Where, Investors are divided into groups, based on whether they are passive or active investors, as well as based on their risk tolerance levels (Kaplan, 2019: Topic 4). 10 questions identify the behavioral orientation of an individual investor. Where, the four types of investors are: preserver, follower, independent and accumulator. Based on the key, provided in Kaplan: Topic 4, the responses reveal that investors behave directly, in different circumstances, and there is no specific characterization. The analysis will be based on 10 questions, presented in the appendix part.
This tool will help to divide customers/investors in each of behavior segments. Therefore, this orientation quiz is a practically useful for the financial advisors, in order to understand their investor’s risk appetite, behavior, attitude and other capacity. When a person completes the quiz, the responses describe their investment behavior, which can be used by the financial advisor, in order to develop their right portfolios and guidance plan.
