[Commerce Class Notes] on Meaning And Importance Of Business Correspondence Pdf for Exam

Whenever the topic of business correspondence surfaces, the most important question is what is business correspondence. The meaning of correspondence is a letter. Anyone associated with any business expresses themselves in terms of business correspondence. The importance of business correspondence is immense in any business. They can express their ideas, question or raise concerns about any aspect of the company through business correspondences. Business correspondences do not only refer to individual letters but also the letters exchanged between the companies or organizations. It can be a letter of complaint, an inquiry letter, a letter to any supplier, an application letter for jobs, etc.

 

Business Correspondence Letter

 

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Whenever we need to contact any person, we send them letters or texts. A similar approach is followed in businesses as well. Such a kind of communication in business is called business correspondence. Business correspondence can be defined as the means of expressing in terms of business. 

 

The letters written during such business transactions are called business correspondence letters. Such written documentation is required since no one can remember all the details of the business for the entire length of the business. Therefore, they prefer to write down the details, which is known as business correspondence. 

 

Why do we need a Business Correspondence Letter?

For the smooth running of any business, business correspondence is necessary. The utmost importance of business correspondence is that it eases reaching out and communication between different parties. For any business deal, meeting delegates in person might be a hectic task. Therefore, it is better to exchange correspondences in this regard.  Business correspondence meaning lies in helping and achieving the goal of the company. Some of the company goals achieved through business correspondences are:

Running a business is a tedious task. There are so many aspects of any business that the business owners hardly find any extra time to interact with the clients and the associated parties on a personal basis. In general, as a business grows, it is impossible to reach out to all the parties in person. Under such circumstances, it is necessary to communicate through business correspondence.  Such a means of communication in terms of business correspondences helps to strengthen the business relationship. Modern business correspondences like PDF can also be shared amongst the parties. Such activities improve internal communication and make them precise and clear. Maintaining a good relationship with all associated parties is considered the prime importance of business correspondence. 

Documentation of all important communications is necessary for keeping track of the growth of relations between different parties. It is important to maintain all these documents as proof of such communication so that the business owners can revert to them whenever needed as references. Moreover, such documents can be used to file lawsuits against those parties who will not act as per the terms and conditions allowed in the correspondences.

For any business to thrive, it is imperative to generate goodwill amongst the parties. Having every conversation in the record creates a professional impression that is appreciated by all parties. The company must accept all letters related to inquiries, complaints, suggestions and feedback related to the services of the company.  Such approaches by the company help to generate and maintain the goodwill of the company.

Business correspondences are considered to be the most convenient and cheapest form of business communication. It only requires an exchange of letters amongst the parties.

Any kind of business communication is considered between two parties. It can be between two business partners, the employer and the employee and the sellers and the buyers. The language used in these business correspondences, like the advanced business correspondence PDF, is logical, concise and formal. Such an approach helps to do away with any kind of ambiguity and is considered to be acceptable and followable by all parties. The precise nature of the letters outlines the importance of business correspondence.

Having formal correspondences related to the business ensures that the business can reach all its targets. Therefore, it allows the business to expand and set newer goals for them. Through such business correspondences, novel information about the market for any specific product can be obtained. Business correspondences can also be used to spread the news of business expansion.

 

Different Types of Business Correspondence

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There are different types of business correspondence letters. The types and functions of business correspondence include:

• Internal Correspondence- The exchange of information in the form of correspondence between different individuals, departments, sectors or branches of the same company.

• External Correspondence- It exists between two individuals but not from the same company. It can be between the producer and the suppliers, collaborators, etc.

• Routine Correspondence- Business correspondences made routinely are called routine correspondences. These include order, inquiries, replies, acknowledgements, etc.

• Sales Correspondence- It is related to the sales of the company. These include sale reports, sale letters, confirmation of orders, invoices, etc.

• Personalized Correspondence- Such letters contain emotional inputs. Letter of recommendation, request, or congratulatory letters are examples of personalized correspondence.

• Circular Correspondence- business correspondences that are issued in common for a large number of people are called circulars. These include notices, tenders, news, announcements, etc.

The first three types of business correspondence are major. More information on the business correspondence can be obtained through business correspondence and report writing PDF free download.