Business communication is a special branch of general communication. When communication takes place between two or more parties concerning business affairs, it is known as business communication. So the main objective of business communication is to exchange information, wishes, attitudes etc. relating to business activities. Through business communication, parties like owners, managers, employees, customers, investors, suppliers, bankers and general public exchange information relating to business activities. Business communication involves the constant flow of information. Feedback is an integral part of business communication.
In fact, communication is the life-blood at business and management process. No business can operate even a day without communication. Business communication can take place with the internal and external parties of the organization. When information is exchanged among the various internal parties, like owners, managers and workers, it is called internal business communication. On the other hand, external business communication occurs when an organization exchanges message with the external parties like customers, suppliers, investors, government agencies, regulatory authorities, competitors, bankers etc.
Business Communication can be of two types:
- Oral Communication – An oral communication can be formal or informal. An example of Informal business communication would be – Grapevine.
- Written Communication – Written means of business communication includes – agenda, reports, manuals etc.