Meaning of business communication: 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.
In fact, communication is the lifeblood of business and management process. No business can operate even a day without communication. Business communication can take place with the internal and external parties on 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 messages with the external parties like customers, suppliers, investors, government agencies, regulatory authorities, competitors, bankers etc.
Many authors defined business communication in various ways. Some quotations are mentioned below:
According to Brennan, “Business communication is the expression, channeling, receiving and interchanging of ideas in commerce and industry.”
William Scott defined, “Organizational communication is a process which involves the transmission and accurate replication of ideas ensured by feedback for the purpose of electing actions which will accomplish organizational goals.”
In the opinion of W. H. Meaning, “The exchange of ideas, news and views in connection with the business among the related parties is called business communication”.
From the above stated discussion and definitions we can draw the conclusion the business communication is a process where business related information, message, news, etc. Are exchanged among buyers, sellers, producers, suppliers, competitors, government agencies etc. Business communication is essential to perform management functions and to ensure organizational success.
Elements of business communication: Business communication starts with the transmission of information related to business and ends with the feedback from the receiver. The sender transmits messages with a view to exchange understanding with the receiver. This understanding depends on positive response from the receiver. In business, two-ways communication is always desirable as it ensures feedback from the receiver. However, the success of business communication depends on some aspects or elements. The elements are discussed in short below:
Two or more parties: Business communication must involve at least two parties. One party acts as the sender of message and another is the receiver of that message.
Meaningful message: The second important elements of communication are message or information that the sender wants to communicate. Messages may take the form of feelings, wishes, attitudes, ideas, facts, information or any other perceivable matter. The messages that a sender wants to send, should be meaningful to the receiver.
Business related information: Information that the sender transmits should be related to business. Similarly the feedback from the receiver should also be business based.
Media or channel: Channel of medium is a pre-requisite of communication. It is the means of transmitting messages from sender to receiver. Communication media can be verbal and nonverbal. The verbal media may be of oral and written. Verbal media of communication include telephonic conversation, fax, newspaper, books, journals etc. On the other hand, gestures, and body language, facial expression etc. Are the media of non-verbal communication. The sender must select appropriate media for successful communication.
Feedback: The final element of communication is feedback. It is the response or reaction of the receiver regarding the sender’s message. Feedback describes how the message is being interpreted by the receiver. It is regarded as the instrument for evaluating the success of communication process.
From the above discussion, we can say that business communication is a specialized part of communication that deals with the exchange of message relating to the business activities. Success of business and economic activities depends on effective communication and success of business communication depends on the above stated elements.