What is Business Communication?
What is Business Communication?
Business communication is best described as the process of sharing information for the benefit of a business. It's generally categorized as being either internal or external. Internal communication, as the name suggests, occurs when a business shares information within its organization. Consequently, external information occurs when a business shares information outside of its organization, either to clients, customers or vendors.
Why Business Communication Is Important
So, why is business communication is important? According to Forbes, businesses lose $62 billion each year because of poor customer support. When a customer has a problem with his or her purchase, they may attempt to contact the business for a solution. If the business fails to respond or doesn't proactively resolve the customer's problem, that customer may stop buying its products or services.
Business communication also allows organizations to streamline their operations and increasing productivity. Research shows that most workers are only productive for about three hours a day. In a typical eight-hour day, that means five hours are wasted. With the right communications, however, businesses can encourage higher productivity levels by motivating workers, delegating tasks, fixing workflow "bottlenecks" and more.
The Different Types of Business Communication
Of course, there are different types of business communication. While all forms of business communication can be categorized as either internal or external, depending on parties communicating, the method of communication used by a business may vary.
Oral communication refers to the process of sharing information by voice. A business may a hold a meeting, for example, in which executives discuss new products with their company's workforce. There's also written communication, which involves sharing information on written or digital media like a calendar of events, PowerPoint presentation or company training manual.
Business Communications Jobs: What You Should Know
Not only is business communication one of the many important workplace skills, there are also many jobs available for individuals interested in this specialty. Statistics show that communications managers in the United States earn a median annual salary of $119,390, making this a lucrative and rewarding career choice. Another related job is a public relations specialist, which has a median annual salary of $65,830. Both of these business communication jobs are poised for strong growth in the coming years, especially in the hospitality field.
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