Importance of Business communication-Free-Samples for Students

Question: Discuss about the Importance of Business Communication. Answer: Introduction: The aim of the assignment is to throw light on three projects; the first being a literature review, the second being a report on small business in the form of an interview and the third is a group report. The opening section deals with preparation of report, which outlines the difficulty in preparing the project. The next section tells about the utility of the projects to the users and the experience gained while preparing them. The last section deals with the importance of business communication in the future. Preparation of the project: I have prepared the project with great effort by consulting several literary sources and by interviewing the Indian storeowner in Australia. The preparers while preparing the report on sustainability have discussed various topics like sustainable living and sustainable use of energy. The collection of the vast amount of data and its assimilation must have been very tedious but enjoyable. The literature reviews draws its strength from several journals and articles, which shows that the reviewers have put in great effort and time. The interview of one of the partners of Patel Brothers, Mr. Sanjay Patel was short but informative. It contains a wide range of information on the advantages of partnership business, the methods which the firm follows while conducting business and their future business plans. The interview must have been enjoyable and enriching because the interviewers gained a lot of knowledge on conducting business but they must have faced certain difficulties. Firstly, they must have faced problem in convincing Mr. Patel to take the interview and reveal such confidential data. The group effort must have been very enjoyable since the group members could collaborate in preparing a report, which was very enjoyable. The difficulty in preparing the group report was collating the efforts of so many members. It can also be pointed out that it must have been difficult for the members to find time to work together. The unavailability of certain members or absence of their responses to phone calls was also an issue. Ethics and cross-cultural communication are vast areas and preparation of report on them requires hard labor. Conducting extensive research and choosing the appropriate materials from the vast quantity of information available must have been challenging. Utility of the projects: The first project was a literature review dealing with sustainability and it was very helpful. The work has rich matter of knowledge derived from various secondary sources. The matters in the review can prove to be helpful in making future projects based on sustainability. The second project was a report on small business in form of an interview. The interview was helpful because it served a primary source of knowledge about real life small business. It helped to know a lot about how small business organizations run their business. The interview also sheds light on how the small businesses segment their markets and expand into new markets. The interviewee Mr. Patel also gave an idea about how the micro business firms market their products and plan their product line. Mr. Patel also revealed how while working at Coles discovered the growing demand for Indian grocery product among the Indian Diasporas in Australia. He recognized this new demand and perceived the vision of an entrepreneurial venture to start a Indian grocery business. He threw light on how he developed his entrepreneurial skills to start and sustain his business. His interview has very important information about how he balances between his business and personal life. The information in t he small business interview can be helpful to people, aspiring them to start entrepreneurial ventures of their own. Moreover, the matter in the interview can be used in future projects related to a wide range of topics like entrepreneurship and small-scale business operation. The group report on business ethics and cross-cultural communication contains valuable information on these subjects. The preparation of group report was very helpful because it teaches teamwork and collaboration. Group report preparation inculcates the capability of working in a team among the members. It is helpful because it sharpens the communication skills and understanding power of the team members. The rich subject matter on business ethics and cross-cultural communication can be used in making future projects. Importance of business communication in the future: General experience of study of business communication: My general experience of studying business communication was interesting and challenging at the same time. Business communication encompasses several topics like formal communication, diversity and so on. It must have been very tedious covering such a vast body of knowledge but it must have been very interesting and enriching. Benefits of studying business communication: Studying of business provided certain benefits to me as a student because it taught me the communication skills. The knowledge of communication, communication methods and diversity management shall help me to communicate better with my colleagues. It shall sharpen my leadership skills, which shall aid me in leading teams and departments in the future. Strong communication skills and leadership qualities bring about promotions and career growth. Future importance of business communication: Building customer relationship: Business communication helps companies to create strong relationship with the customers and cater to their needs better. The companies use communication methods like promotions to create demand in the market for their products. This demand helps these companies to sell their products to large number of consumers and generate huge revenue. The huge base of buyers and generation of vast amount of revenue are very important for the future growth of the companies. Hence, communication helps companies to promote their products, which creates future demand and revenue generation. Business expansion in future: The companies communicate strategic information like their profits, share prices and product lines. This communication strategy helps in attracting business partners like distributors, which helps them to penetrate new markets. Thus, business communication helps the companies to attract organizations, which can collaborate to bring about future business expansion. Motivate team: The team leaders and departmental managers communicate the important business decisions and communicate with their subordinates to gain their participation. This establishes a communication channel, which enforces cooperation and collaboration among the team members. This motivates the team members to perform higher which ultimately helps the organizations in achieving both short and long-term target. Thus, communication can help the organizations to motivate their teams and achieve their future business target. Expansion of customer base: The companies communicate their future product strategies and upcoming products using various types of marketing strategies. This creates future demand for the products of the companies, which facilitates sales in the future. Thus, business communication actually helps the companies to pave way for future cash inflows. It can also be pointed out that business communication helps the companies to sustain the competitive market. Conclusion: It can be summed up that the projects help the preparers in multiple ways. The preparers gain new knowledge and can use it in their future assignments. The group activities and interviews sharpen communication skills. All projects have their own share of hardships and advantages. Business communication as a subject is challenging as well as interesting. It has great future significance to both the companies and their employees. It helps in ensuring future business partnerships, expand customer base and increase future inflow of cash.