Business Communication - The Importance of Information Technology in Business

Information technology drives innovation and innovation is the path to business success. Innovation in business has the same impact that steam had on the industrial revolution.Technology has important effects on business operations. No matter the size of your enterprise, technology has both tangible and intangible benefits that will help you make money and produce the results your customers demand. Technological infrastructure affects the culture, efficiency and relationships of a business. It also affects the security of confidential information and trade advantages.

There are several kinds of technology that can be used to support business, such as:

1. E-mail
E-mail is widely used as a form of business communication and overall it is a highly effective communication tool. Email is inexpensive, only requiring an Internet connection that is generally already present in the business. Although a printout of emails is possible, emails often stay as soft copies because archiving and retrieving email communications is easy to do. From the CEO to the janitorial staff and even temporary employees of the business can send and receive email communications.

2. Internet
It is very difficult to imagine how any business could operate during this time without the use of the internet. The development of the internet has significantly altered the day to day operations of a business; including how they communicate with each other and their audience. Information can be easily transmitted to any destination in a matter of seconds.

The internet has become an essential tool for marketing and advertising. A business can present itself to customers with the use of a website or online advertisements. Many businesses now use the internet as a means of making customers aware of their current promotions. This can be very beneficial to businesses that are targeting a younger audience.

3. Voicemail
Voicemail, like other communications technologies, can be a boon to productivity or a center of inefficiency for a business. There is almost no doubt that you will wish to use voice mail in some ways -- unless your business eschews telephones entirely -- but the proper application of voicemail will determine its usefulness.

4. Teleconference
Teleconferencing among multiple participants in two or more locations is a strategic communication tool deployed by many companies with multiple locations and dispersed employees. Business cyclical shifts and economic downturns tend to see a rise in the use of teleconferencing facilities. Used judiciously and strategically, teleconferencing can enhance organizational productivity, engage employees at all levels and reduce travel budgets.

Business Report
Business reports are a type of assignment in which you analyze a situation (either a real situation or a case study) and apply business theories to produce a range of suggestions for improvement.
Business reports are typically assigned to enable you to:
• Examine available and potential solutions to a problem, situation, or issue.
• Apply business and management theory to a practical situation.
• Demonstrate your analytical, reasoning, and evaluation skills in identifying and weighing-up possible solutions and outcomes.
• Reach conclusions about a problem or issue.
• Provide recommendations for future action.
• Show concise and clear communication skills.

Types of Business Report

Reports may be classified based on several criteria, including their use (progress reports and financial reports), purpose (informational, analytical and persuasive reports), frequency of preparation (annual, monthly, weekly and hourly reports), length (short and long reports) and whether they are internal to the business, or are used outside the business.

The most common types of business reports may be divided into the following categories –

1. Periodic reports – These are reports that are prepared on a regular basis, for both internal and external audiences. Their purpose is solely to inform. Examples of this type of report are –

a) Routine management reports – These are reports such as equipment reports and sales updates and are prepared for internal audiences.

b) Compliance reports – These are submitted to external stakeholders, such as the government, stating compliance with regulations such as environmental norms.

c) Progress reports – These reports may be prepared for both internal audiences such as top management and shareholders, as well as for external audiences such as customers. A project report stating progress on a long-term project is an example of this type of report.

2. Proposals – Unlike periodic reports, the purpose of a proposal is to persuade. Proposals may be prepared for both internal and external audiences. Examples of proposals include research proposals and marketing strategy proposals to top management, proposals to the government to grant funds for building a research facility and proposals to consumers to buy a company’s products.

3. Policies and Procedures – The purpose of these reports is solely to inform. They are also prepared only for internal audiences. Examples include reports on company policies and procedures, written by top management and sent to all employees. This is part of downward communication.

4. Situational reports – These are one-time, exceptional reports that are prepared when a unique event occurs. For example, if sales of the company has shown a significant decline, a study may be carried out to determine the reasons for declining sales and a report prepared on the findings. Similarly, a market feasibility study may be carried out before launch of a new product and a report prepared, based on the study. The purpose of such reports is usually to inform, analyze and persuade.

Source:

http://www.business2community.com
https://www.oksbdc.org
http://smallbusiness.chron.com
http://www.cns-it.co.uk
http://owll.massey.ac.nz

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