Assignment On

Topic: Business Communication for Corporate World

Course Title: Business Communication

Course Code: MBA 507

Section: 01

Semester: Spring – 2023

SUBMITTED TO
Faculty Name: Nigar Sultana

Designation: Adjunct Faculty

SUBMITTED BY
Name: Shaikh Anika Labin Farin
Id:2320957
Corporations are usually managed by a board of directors who are elected by the shareholders.
The shareholders are the owners of the corporation, and they can buy and sell shares in the
company to raise capital or to transfer ownership.
One of the key benefits of incorporating is that it limits the personal liability of the owners or
shareholders. This means that their personal assets are generally protected from the debts and
legal obligations of the corporation. Additionally, corporations often have access to more capital
than other types of business structures, such as partnerships or sole proprietorships, making it
easier for them to raise funds to expand their operations.

Business communication:
Business communication refers to the exchange of information within an organization or
between organizations, with the goal of facilitating business activities and achieving
organizational objectives. It includes various types of communication such as oral, written,
electronic, and visual.
Effective business communication is essential for the success of any organization. It helps to
build relationships with customers, suppliers, employees, and other stakeholders, and enables the
sharing of ideas, information, and feedback. Business communication can take many forms,
including emails, memos, reports, presentations, meetings, and social media posts.

Types of business communication:

Business communication can be broadly categorized into three types:
Internal Communication: This type of communication takes place between people within the
same organization. It can be formal or informal and can take place through various mediums like
emails, memos, reports, meetings, presentations, or instant messaging. Internal communication is
essential for sharing information, making decisions, and coordinating actions within an
organization.
External Communication: This type of communication takes place between an organization
and people or entities outside of it. It can be formal or informal and can take place through
various mediums like emails, letters, reports, presentations, or social media. External
communication is essential for building relationships, promoting products or services, and
attracting customers or investors. It can also include communication with government agencies,
regulatory bodies, or industry associations.
Personal Communication: Communication that occurs on exchange for personal information,
ideas and feelings rather than business related information are termed as personal
communication. Personal communication is a crucial part in business communication. It
influences the attitude of the employees regarding those operations plan.
Here are some specific types of business communication within each of these
broad categories:

Internal Communication:
Upward Communication: This type of communication takes place from lower-level employees
to higher-level management. It can be used to provide feedback, suggestions, or reports on work
progress.
Downward Communication: This type of communication takes place from higher-level
management to lower-level employees. It can be used to communicate goals, strategies, or
expectations.
Lateral Communication: This type of communication takes place between people at the same
level within an organization. It can be used to coordinate activities, share information, or resolve
conflicts.

External Communication:
Customer Communication: This type of communication takes place between an organization
and its customers. It can be used to provide information about products or services, resolve
customer complaints, or gather feedback.
Public Relations Communication: This type of communication takes place between an
organization and the public. It can be used to build relationships, promote brand image, or
manage crisis situations.
Marketing Communication: This type of communication takes place between an organization
and its target market. It can be used to promote products or services, build brand awareness, or
generate leads.
Investor Communication: This type of communication takes place between an organization and
its investors or shareholders. It can be used to provide financial information, share company
news, or attract investments.

Forms of Business Communication:

Business communication refers to the exchange of information between people within or
between organizations for the purpose of achieving business objectives. Here are some common
forms of business communication:
Emails: Emails are one of the most common forms of business communication. They are quick,
easy, and can be sent to multiple people at once.
Memos: Memos are typically used for internal communication within an organization. They are
short, concise, and can be used to communicate updates, reminders, or directives.
Reports: Reports are used to provide detailed information about a specific topic. They can be
used to inform, analyze, or pers.
Presentations: Presentations are used to communicate information in a visual and engaging way.
They can be used to inform, persuade, or inspire and are often used for internal or external
communication.
Meetings: Meetings are used to discuss ideas, make decisions, or solve problems. They can be
conducted in person or virtually and can involve people from within or outside an organization.
Social media: Social media platforms such as LinkedIn, Twitter, and Facebook can be used for
business communication. They can be used to share information, connect with customers, and
promote products or services.
Phone calls: Phone calls are a traditional form of business communication. They can be used for
quick updates, to ask questions, or to resolve issues.
Text messages: Text messages can be used for quick communication with colleagues or clients.
They are often used for informal communication or to send reminders.
Video conferencing: Video conferencing platforms such as Zoom, Skype, or Teams can be used
for virtual meetings, interviews, or presentations.
Business letters: Business letters are formal written communication used for external
communication. They can be used to request information, make inquiries, or send official
communications.

Business communication in corporations:

In corporations, business communication is a vital aspect of their operations. Clear and effective
communication among various departments, employees, stakeholders, and shareholders is critical
to achieving the organization’s goals and objectives.
Internal business communication in corporations may involve the exchange of information
between different departments or teams, such as marketing, finance, human resources, and
operations. This communication can take many forms, including emails, memos, meetings,
presentations, and reports. Effective communication between different departments helps ensure
that everyone is on the same page and working towards common goals.
External business communication in corporations involves communication with clients,
suppliers, investors, and other stakeholders. This communication can take many forms, such as
emails, phone calls, meetings, presentations, and social media. Effective external communication
helps to build strong relationships with stakeholders and ensures that the organization’s values
and objectives are understood and respected.
In addition to effective communication between departments and with external stakeholders,
corporations must also prioritize communication with their shareholders. This includes providing
regular updates on the company's financial performance, plans for growth and expansion, and
any other significant developments. Clear and timely communication with shareholders helps to
build trust and confidence in the organization’s management and can contribute to a stable and
successful business environment.
Corporate communication encompasses various means to drive a successful communication
strategy, with corporate design and corporate language being key pillars of corporate identity.
Corporate design includes common graphic elements, such as a binding font and company logo,
that are used consistently across all communication channels, including letters, emails, and
presentations. Corporate language, on the other hand, is the tone and form of expression used by
a company, which must follow general rules while also having an individual and uniform
character. Finding the right balance between outstanding features and everyday conventions is
important in corporate language, as is reflecting the values and norms of the company's culture.
A guide can be created to help employees internalize the language and communication strategy,
including lists of expressions that should or should not be used.

The importance of business communication for the corporate world:

Business communication is a critical aspect of the corporate world as it enables organizations to

exchange information, ideas, and feedback effectively among employees, stakeholders,
customers, and partners. Effective communication is essential for the success of any business, as
it helps to establish trust, build relationships, and foster collaboration.
Here are some key reasons why business communication is important for the corporate world:
1. Promotes collaboration and teamwork: Effective communication is essential for building
a collaborative work environment. When employees communicate clearly and effectively,
they can work together towards common goals, share ideas, and resolve conflicts.
2. Enhances productivity: Clear communication helps to eliminate misunderstandings,
reduces errors, and ensures that everyone is on the same page. This leads to increased
efficiency, faster decision-making, and improved productivity.
3. Builds relationships: Business communication is crucial for building relationships with
customers, partners, and other stakeholders. Effective communication helps to establish
trust, understand customer needs, and build brand loyalty.
4. Facilitates innovation: Open communication channels encourage employees to share
ideas, thoughts, and feedback. This can lead to the development of new products,
services, and processes, promoting innovation and growth.
 5. Improves customer service: Clear and timely communication with customers is essential
for providing excellent customer service. Effective communication can help to resolve
customer complaints, answer queries, and build lasting relationships.
So, business communication is crucial for the success of any organization. It enables companies
to build relationships, enhance productivity, promote collaboration, and facilitate innovation. By
investing in effective communication strategies, organizations can stay competitive and achieve
their goals.

Conclusion:
Business communication in the corporate world is essential for the success of any company.
Effective communication helps to establish relationships with customers, clients, and other
businesses. It also enables companies to share information, ideas, and strategies among
employees, departments, and other stakeholders.
Business communication can take various forms, including written, verbal, and visual
communication. Written communication includes emails, memos, reports, and other documents.
Verbal communication includes meetings, presentations, and phone calls, while visual
communication includes charts, graphs, and other visual aids.
To be effective in business communication, individuals must possess certain skills such as active
listening, clarity, conciseness, and the ability to adapt their communication style to different
situations and audiences. It is also important to use appropriate language, tone, and nonverbal
cues in communication.
In the corporate world, business communication is used for various purposes such as sales and
marketing, customer service, employee engagement, and stakeholder relations. Effective
communication can help to build trust, establish credibility, and enhance the overall reputation of
a company.
Finally, the use of technology has transformed business communication, making it faster, more
efficient, and more accessible. Companies now rely on various digital tools and platforms to
communicate with their stakeholders, including email, instant messaging, video conferencing,
and social media. However, it is important to maintain a balance between technology and
traditional forms of communication to ensure that important messages are not lost in the noise.