Cost objective communication refers to the process of
informing the public on the account for which costs are measured depending on the work unit. Some of the information in the company may be considered confidential. In this paper, we will focus on how cost objectives should be communicated and what information might be regarded as proprietary.
Cost objective communication internally should be communicated first through scheduling conference calls when you can not meet in person for sharing information and brainstorming. Externally this communication should be done through seminars or conferences for networking.
Secondly, communication should be done through an email as it is a powerful way to build relationships externally. With segmentation, email campaigns can be categorized into solutions for shareholders, consumers, and stakeholders. Internally a company should create an email distribution list to ensure members are reached out often to ensure they are informed and on board with their efforts of those who are should be made externally through press releases issued in reliable journal improve the credibility and reputation of the business. Communication should be done through interviews and press conference ..
Finally, cost objective communication should be done through social media. For an effective external communication strategy using social media, the business needs to find out the platforms used by their audience when connecting. This way the company will serve the customer better. This communication
In conclusion ,proprietary information, is the information that a business wishes to keep confidential from other businesses . It includes; secretformulas and processes, methods of production, the salary structure, marketing strategies, contracts customer lists and special skills an employee acquired. Proprietary information derives an independent economic value from not being know by the public , this gives the company a competitive edge and an economic advantage.