Maharashtra State BoardHSC Commerce 12th Board Exam
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Justify the following statement. Communication is essential for growth of business. - Organisation of Commerce and Management

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Answer in Brief

Justify the following statement.

Communication is essential for the growth of the business.

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Solution

  1.  Exchange of ideas, facts, information, etc. from one person to another is called communication. It is a process of transfer of information from one place to another or from one person to another with the help of some medium. Means of communication comprise magazines, newspapers, post and telegraphs, radio and television, telephone, internet, e-mail, etc. Communication is essential for the growth of a business, which includes industry, commerce, trade, etc.
  2. The difficulty of distance is effectively solved by various means of communication. Communication helps to transmit business information more quickly among the businessmen. Effective communication facilitates carrying required raw materials and other requirements from the place of their origin or market to the place of their production to facilitate large scale production. The communication also helps to carry finished products from the place of production to the places of consumption as well as the market.
  3. Communication helps to make goods and services available wherever they are demanded. It helps to widen the market. Effective communications facilitate the development and growth of the domestic and international markets and bring prosperity to the country.
  4. Effective communication facilitates the reduction in the cost of production and distribution of goods at low prices which increases their demand and widens the market. An increase in demand in turn leads to large-scale production and supply. Thus, communication is essential for the growth of the business.
Concept: Business Services - Communication
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