Solutions to Assignments
MBA and MBA (Banking & Finance)
MMPC-007 - Business communication
MMPC-007/TMA/JULY/2022
Question No. 4
Elaborate on the need and importance of a business correspondence at workplace.
Any communication in the form of the letter is correspondence. Any person related to a business expresses oneself though business correspondence. One can also ask any doubt or uncertainty through business correspondence.
A businessman writes and receives letters in his day to day life. A correspondence between two organizations or within an organization comes under this category. A letter to a supplier, complaint letters, letter of inquiry, job application letters are some of its examples.
Importance of Business Correspondence
A business correspondence has numbers of importance. Its most important feature is the ease of reaching and communicating with different parties. It is not always possible to meet persons face to face.
A business correspondence helps to meet some organizational goals. One can achieve the objectives through it. Let us study some of them in details.
1. Maintaining a Proper Relationship
It is not always possible for any business or organization to reach to any person in particular. This will cost any business. Here, the business correspondence will be a rescue for any business.
It helps in maintaining the proper relationships between the parties. Business correspondence strengthens the business. It also helps in the internal communication. It makes communication within the organization more clear and precise.
2. Serves as Evidence
Any written form of communication serves as evidence. A business correspondence helps the person in a business to keep a record of all the facts. These written records will serve as evidence.
3. Create and Maintain Goodwill
It helps in creating and maintaining goodwill between a business and a customer. Any letter to enquire, complaint, suggestion or feedbacks helps a company to grow and maintain goodwill.
4. Inexpensive and Convenient
It is a cheap and convenient form of business communication.
5. Formal Communication
A business communication serves as a formal communication between two persons. It may be a seller and a buyer. It can be between an employee and the employer. The language used is formal and logical.
It helps in removing the ambiguity and the doubts of the person involved in the business. The formal communication in business is followed and acceptable.
6. Helps in the Expansion of Business
A business correspondence helps a business to achieve the set goal. It also ensures the expansion of a business. With no waste of time and proper utilization of manpower and resources, a business can expand.
Any information regarding some resources or any product or market can be easily done. Even the news of the expansion of business can be spread by it.
Correspondence is simply written communication from one person to another for various reasons: to report information, convey feelings, or ask questions. It can be verbal or written. The communication may include memos and emails. It can range from formal to informal. In all cases, it is a two-way exchange of information.
The goal of business correspondence is to communicate accurately and effectively. Therefore, it is important to select the most appropriate format for the message and its recipients. Business correspondents can include people or businesses. They may include individuals who are in a position to give or receive business information, such as a president, a vice president, a chief operating officer, and/or a business manager. Businesses are entities, such as a company, a subsidiary, or a joint venture. Businesses may include other groups of people who are in a position to receive or give business information. Such groups may include the human resources department, the finance department, the legal department, and/or the communications department. Finally, they may include businesses. They may include government organizations, non-profit organizations, political campaigns, advocacy groups, and/or social organizations.
Business correspondence can include memos and emails. Memos are typically short (two-page or less) documents that explain information or contain instructions. E-mails are short text documents that can be sent to one or more recipients. Both types of business correspondence contain similar information, such as the purpose, date, author, and recipient.
The format of business correspondence is one of the most important factors in determining its success. The right format will help get your message across and make it appear clear to the intended reader. You can use the information below to help you select the correct format for your message and its intended recipients.
If you are writing to a business person, there are many different ways to send a memo, the most common being to email the document.
In addition, you may use email to send messages to groups, including all the people in your organization. For example, you may email your organization’s president to introduce yourself.
There is also the e-mail address of the chief executive officer or CEO of a business. This may be different from the company’s mailing address and you will need to double-check. Many companies also have their Web sites and frequently post their chief executives' email addresses on their homepage or other areas of the site.
Business Correspondence (or Business Letters) is a form of written communication usually used in the workplace and sent and received as part of the job of a business professional. The form is mainly employed when there is an urgency for a reply to a particular letter or message. It is different from regular communication because it's done via a business-like medium. Business letters are usually written in the style of a formal document; however, they often need to be brief and well-organized. They are usually used in business, especially when communicating with or giving information to clients, vendors, contractors, other businesses, and/or other business people. Business letters are commonly used in the business world, in addition to the more common personal letters.
The letter and the business are often separated by the word 'Correspondence'. 'Business Correspondence' may mean anything from a sales letter or letter sent from one business person to another, to an employee's letter sent from a workplace back to a company, or a personal letter sent to a business.
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