Category: Business

Business communication is distinct from personal communication as it has a different set of objectives. In order to understand the essentials of effective business communication, one has to have a fair idea of the world of business itself. In the following paragraphs, we shall be discussing various characteristics and features of business so that the needs of business communication become clear.Any business has certain distinct characteristics. These set it apart from other activities such as personal affairs, religion and charity. Characteristics 1. Profit Motive: Any business is known by its commercial character, i.e., the profit motive. At the end of the day, every business looks at its net earning. It looks for a healthy bottom line, i.e., reasonable profits and generally not exorbitant profits. Image Source: carta.fiu ADVERTISEMENTS: There may…

Businesses are of numerous types. They may be big or small, old or new, local or national, public or private, proprietary or partnership, monopolistic or competitive and manufacturing or service units. Image Source: hwritenwrite.comNevertheless, by and large, all these businesses have certain common concerns and approaches within any given business environment. They deal with people internally as well as externally. They have their stakeholders in owners, employees, customers and the community. ADVERTISEMENTS: Businesses are also organized into various functional areas such as personnel, marketing, sales, purchase, accounts, and administration and secretarial. Business letters are of a wide variety and emanate from all these sources.Similarly, people who deal with these businesses also correspond with all these departments at some stage or other. To be able to correspond effectively with all these…

Objectives of Business Communication are as follows: Image Source: carta.fiu.edu 1. Inform: The first and foremost objective of any communication is to inform. In today’s world, information is power. Communication brings power through information. The dissemination of information covers a wide range of areas, both internal and external. ADVERTISEMENTS: People within the organization have to be kept informed about the organizational goals, objectives, procedures, processes, systems, plans, priorities and strategies. Equally important is the objective of ensuring effective external communication—with customers, prospects, competitors, suppliers and the public, about products, services, plans, happenings, events and achievements.The information needs within the organization take on different nomenclatures—market-related information, product-related information, client-related information, employee information, executive information and management information. 2. Educate: Another objective of communication in an organization is to educate, i.e., to…

Every business and organization has its stakeholders. These stakeholders are individuals or groups of persons who have some interest or stake in the business and generally work for the success of the organization or business. Image Source: thepeakbcdotcom.files.wordpress.com1. Owners: The owners of any business are the first set of stakeholders. They contribute capital or equity and have a say in the running of the business. They may be a few as in the case of a partnership, or very large in number, as in the case of a joint stock company. ADVERTISEMENTS: Persons having a share in the equity of a company are known as shareholders. Owners expect the business to run smoothly and efficiently and yield good return on equity. Such shareholders would be different from the company, which…

Obviously, given the wide cultural differences, no business communicator can have prior intimate knowledge of people with different cultural backgrounds. Nevertheless, the positive aspect of this is that today with globalization, mobility of people, presence of MNCs across countries and more specifically, the vast coverage of print, electronic and internet media, any required information of any cultural group or country can be easily accessed. Image Source: oht-webcontent.s3.amazonaws.comThe literature brought out by the trade and export federations, embassies and channels like Discovery and Travel & Living regularly feature programs that provide valuable insights into the physical and cultural aspects of various countries across the globe. ADVERTISEMENTS: These apart, there are people who have already visited those countries or interacted with those people and are familiar with their cultural aspects and can…