13. Different types of business communication

Communication - any act by which one person gives to or receives from another person information about that person’s needs, desires, perceptions, knowledge, or affective states. Communication may be intentional or unintentional, it may involve conventional or unconventional signals, may take linguistic or non-linguistic forms, and may occur through spoken or other modes.

Or in simple word communication is the exchange of ideas, opinions and information through written or spoken words, symbols or actions.

Business Communication is any communication used to promote a product, service, or organization – with the objective of making sale.

In business communication, message is conveyed through various channels of communication including internet, print (publications), radio, television, outdoor, and word of mouth.

In business, communication is considered core among business, interpersonal skills and etiquette.

There are two types of business communication in an organization: Internal Communication, External Communication

Communication within an organization is called “Internal Communication”.

It includes all communication within an organization. It may be informal or a formal function or department providing communication in various forms to employees.

Effective internal communication is a vital mean of addressing organizational concerns. Good communication may help to increase job satisfaction, safety, productivity, and profits and decrease grievances and turnover.

Communication with people outside the company is called “external communication”. Supervisors communicate with sources outside the organization, such as vendors and customers.

15. Innovations in business

Innovation is the creation of better or more effective products, processes, services, technologies, or  ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself.

Business innovation can come from virtually anywhere, from an entrepreneur in a garage to the directors of a multinational corporation. This topic will keep you up on the latest in innovation in the business world.

Business model innovation (BMI) refers to the creation or reinvention of a business. Though innovation is more often seen in the form of a new product or service offering, a business model innovation results in an entirely different type of company that competes not only on the value proposition of its offerings, but aligns its profit formula, resources, and processes to enhance that value proposition, capture new market segments, and alienate competitors. This topic covers the latest news on business model innovation. 

Innovations in business creation and management The program’s aim is to form general, cultural and professional competencies in creating and managing business innovations. It is centered on innovative approaches to business creation and management, in particular, to innovations introduction to companies, which apply innovations or act in innovative spheres.

Students will study such disciplines as industrial informatics, which embraces a complex of disciplines like methods and technologies based on computer and telecommunication systems of information saving, processing and transmitting social and economic objects and settling all complicated problems in entrepreneurial activity with the purpose to develop industrial sphere.

Graduates are supposed to get deep knowledge in the sphere of system integration and business processes reengineering which forms high skills in making management’s decisions and effective industrial management and can also continue their activity in the chosen area of scientific research.