Types of Business Information, Sources and Purposes

BUSINESS
COMMUNICATION

Table of Contents
INTRODUCTION...........................................................................................................................................3
P1) Explain different types of business information, their sources and purposes..................................3
P2) Present complex internal business information using three different methods appropriate to the
user’s needs............................................................................................................................................4
P3) corporate communications for your organization............................................................................4
P4) External corporate communications of an existing product or service............................................4
P5) Explain the legal and ethical issues in relation to the use of business information.........................5
P6) Explain the operational issues in relation to the use of business information.................................5
P7) outline electronic and non-electronic methods for communicating business information, using
examples for different types of audience...............................................................................................7
CONCLUSION...............................................................................................................................................7
REFERENCES................................................................................................................................................8

INTRODUCTION
Business communication is the sharing of information between people within and outside
the organization that is performed for the commercial benefit of the organization. It can also be
defined as relaying of information within a business by its people. The present report is based on
understanding business communication aspects for transferring information and managing
operations efficiently. In this regard, different types of business information, their sources and
purposes and complex internal business information using three different methods appropriate to
the user’s needs are to be described (Holsapple, 2013). However, corporate communications and
legal as well ethical issues in relation to the use of business information is to be presented
through this assignment. Apart from this, electronic and non-electronic methods for
communicating business information, using examples for different types of audience can be
explained to understand significance of business communication.
P1) Explain different types of business information, their sources and purposes
Types of business information:-
 Transaction processing systems (TPS): These are basic business systems that serve the
operational level of the organization by recording the daily routine transactions required
to conduct business, such as payroll and sales receipts.
 Management information systems (MIS): These serve middle managers' interests by
providing current and historical performance information to aid in planning, controlling,
and decision making at the management level. MIS typically compress TPS data to
present regular reports on the company's basic operations.
 Decision support systems (DSS):- Business intelligence systems, help managers with
non-routine decisions that are unique, rapidly changing, and not easily specified in
advance. DSS are more analytical than MIS, using a variety of models to analyze internal
and external data or condense large amounts of data for analysis.
Sources and purposes of business information:-
Verbal Information- The best way to communicate but not always the most efficient. It is
immediate and can solve most problems.
Written Information- Can be words, diagrams, graphs and charts. Can come from a
wide range of sources - newspapers, books, trade journals and government publications.
On-Screen Information- Information may be produced on-screen. This can be seen in