1. Communication & Its Importance in Modern Business
Question No.1: What is business communication? What is its importance in modern business?
The term communication is derived from the Latin word ‘Communico.’ It means to share. Therefore, communication is the sharing of ideas, thoughts and feelings between two persons or parties. Literally communication means to inform, to tell, to show or to spread information. The whole working of a society is possible only through the process of communication. Different definitions of different thinkers are given below.
According to Oxford Dictionary: “Communication is the action of conveying or exchanging information and ideas.”
According to James B. Stull: “It is the process of sending or receiving a message.”
According to Kaith Davis: “Communication is the process of passing information and understanding from one person to another.”
We can say that communication is the exchange of messages, ideas, proposals, opinions, facts, and emotions between the sender and the receiver. It is a purposeful activity. It involves a systematic and continuous process of telling, listening and understanding of what a person conveys.
What is business communication? It can be defined as the sending and receiving of such information as is essential for the promotion of business. It can take place between two persons, two or three firms or companies. No business can flourish without it. We can say without any hesitation and fear of contradiction that it is the lifeblood of every business.
Importance of Effective Business Communication
Communication is a highly valued skill. This skill to communicate effectively dates back to the origin of humanity. The ancient world had a great treasure of oral communication. Later on, written communication became important. It does not mean that oral communication was over. It continued and had its own place. This combination of oral and written communication has given birth to new principles of written communication.
Effective communication both in writing and speaking is highly advantageous for the smooth running of an organization. Whatever you do in your business, you can’t run your business successfully if you don’t have effective communication. Today, its importance has increased manifold. We can study its significance under the following headings.
· A. Nerve Center: Business communication is as necessary for the progress and running of the business as blood for the body. In this modern and complex age, a businessman has to face so many challenges. These challenges and needs of the modern age can only be faced with the help of effective communication.
· B. Smooth Functioning of Business Organization:
So many activities are performed in an organization. The members of the staff are to act and react. They are to exchange ideas, opinions, suggestions, proposals and information to achieve the basic goals of their organization.
The only thing that can help them in getting their aim is effective business communication. So, we can say that effective business communication helps us in the smooth functioning of business organizations.
· C. Planning and Controlling Business Matters:
Planning is part and parcel of the successful running of a business organization. But how can you plan if there is no effective communication among the members of your staff? So, we can say that effective communication is a must to do planning and to handle business matters effectively.
· D. Achieving Maximum Production At Minimum Cost:
Maximum production with minimum cost is the first and foremost demand of a business organization. But to do so, internal as well as external communication is required. It helps in improving public opinion, links with the suppliers, whole-sellers and customers etc.
· E. Decision Making:
Many decisions have to be made to get the basic goals of a business organization. The suggestions and complaints given by the co-owners help in making sudden and right decisions. But it can only be possible through effective business communication.
· F. Building Good Relations:
Effective business communication not only establishes good relations among the members of the staff but also between the members of the organization and the customers, sellers, whole sellers and the public. The grievances of the people outside the organization can only be removed through effective business communication.
· G. Communication in Global Market:
Effective communication makes a difference to your organization in the international market. Your ability to speak and write effectively helps you to be successful in dealing with international businessmen as well as organizations.
· H. Dispute Settlement: In a business concern, disputes between the workers and management are a common thing. They can be solved with proper communication.
The study of effective business communication under the headings given above clearly shows that effective communication plays the role of backbone in the running of a business organization. We can say without any hesitation and fear of contradiction that failure in effective communication means failure in business.