Podcast
Questions and Answers
What does business communication encompass?
What does business communication encompass?
- Creating, sharing, listening, and understanding messages between different groups of people through written and verbal formats (correct)
- External communication between employees and people outside the company
- Only verbal communication methods within the company
- Communication barriers preventing the receiver from understanding the sender
Where does business communication occur?
Where does business communication occur?
- Internally and externally (correct)
- Only internally
- Only between employees
- Only externally
What is the significance of communication in a business?
What is the significance of communication in a business?
- It is only important for external communication
- It is only important for written communication
- It has no impact on the success of the company
- It is vital to the success of the company (correct)
What can prevent the receiver from understanding the information sent by the sender in business communication?
What can prevent the receiver from understanding the information sent by the sender in business communication?
What is the origin of the word 'communication'?
What is the origin of the word 'communication'?
What is the system known as that most countries have institutionalized for banks?
What is the system known as that most countries have institutionalized for banks?
In addition to other regulations, what are banks generally subject to based on an international set of standards?
In addition to other regulations, what are banks generally subject to based on an international set of standards?
Where did banking in its modern sense evolve?
Where did banking in its modern sense evolve?
What is the primary function of a bank?
What is the primary function of a bank?
What role do banks play in the economy of a country?
What role do banks play in the economy of a country?
Flashcards
Business communication definition
Business communication definition
Creating, sharing, listening, and understanding messages between groups, using written and verbal formats.
Business communication locations
Business communication locations
Occurs both internally and externally within a company.
Importance of communication in business
Importance of communication in business
Essential for company success.
Communication barriers in business
Communication barriers in business
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Origin of 'communication'
Origin of 'communication'
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Fractional-reserve banking
Fractional-reserve banking
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Bank capital requirements
Bank capital requirements
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Modern banking origins
Modern banking origins
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Primary bank function
Primary bank function
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Bank's economic role
Bank's economic role
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Study Notes
Business Communication
- Encompasses all forms of communication within an organization, including verbal, nonverbal, and written communication
- Occurs internally and externally, including communication among employees, management, customers, suppliers, and other stakeholders
Importance of Communication
- Crucial for effective information exchange, collaboration, and decision-making in business
- Facilitates planning, organizing, leading, and controlling within an organization
Barriers to Effective Communication
- Noise, distractions, and language barriers can prevent the receiver from understanding the information sent by the sender
Origin of Communication
- The word 'communication' originates from the Latin word 'communicare', meaning 'to share'
Banking System
- Most countries have institutionalized the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system for banks
- Banks are subject to regulations based on the Basel Accords, an international set of standards
- Modern banking evolved in Italy in the 15th century
Role of Banks
- Primary function: to provide financial services, including accepting deposits and making loans
- Play a crucial role in the economy of a country by facilitating financial transactions, providing credit, and supporting economic growth
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