FYBMS

1. UNIT : 1
THEORY OF BUSINESS COMMUNICATION
JYOSTNA JAIN
Business communication

2. The Concept Of Communication
Chapter :1

3. “COMMUNICATION IS A PROCESS OF PASSING INFORMATION AND
UNDERSTANDING FROM ONE PERSON TO ANOTHER”
What is communication?

4.  It is continuous and on-going
 The message depends on the environment and the situation in which it is
delivered
 Human communication requires channel or medium in form of
words,actions,gestures,signs and symbols
 People are completely and wholly involved when they communicate i.e
physically,mentally,emotionally
Characteristics of human communication

5. Communication Process
SENDER RECEIVER
Feedback
receiver sender
Communication is the process of sending and receiving
information among people…
Noise
Use of
channel to
transmit
the
message

6. Communication code scheme

7. Need and importance of feedback
1. Positive / Negative
 Feedback may be positive or negative. Positive feedback means a very good and
satisfactory response.negative feedback means non.satisfactory feedback
 2. Immediate / Delay:Feedback can be immediate or delayed. In inter-personal
communication the receiver recives immediate feedback in form of a smile,frown etc.
When we write letters or broadcast on the radio, the feedback becomes delayed as the
message is conveyed little slow.
 3. Simple / Complex:Feedback can be simple through a nod of the head, conveying a
brief yes or no, or it can be complex as a lengthy written response.
 4. Profits / Losses:Feedback can enhance the profits of an organization. If a business
reacts positively to feedback, it changes its marketing strategy and achieves progress. A
negative feedback may be responsible for weak and uneven business.
.

8. Importance of communication in corporate world
 Rapid globalization
 Larger workforce
 Emphasis on optimum utilization of resources
 Organization structure
 To have better rapport (connection)
 To highlight performance
 To advertise new products and services

9. Communication is a series of
experience of
Hearing
Smell
Seeing
Taste
Touch

10. CHANNELS AND OBJECTIVES OF COMMUNICATION
Chapter 2

11. Formal channels Informal channels
Vertical
communication
Horizontal
communication
Diagonal
communication
Downward
communication
Upward
communication
Grapevine
Channels of communication

12. Vertical communication
The communication that takes place between
different levels of organization is called vertical
communication
Eg: communication between principal and student

13. Horizontal communication
Communication with persons of relatively equal
status in an organization is termed as horizontal
communication
Eg: communication between a student and other
student

14. Diagonal communication
Communication that takes place between people of
similar status but of different organisation
Eg: when a teacher communicates with a parent at a
PTA meeting,it is diagonal communication

15. Downward
communication
Upward communication
Communication from
superior to subordinate
Useful for giving specific
job instructions , rules
and regulations ,
appraising subordinates.
Communication from
subordinate to superior
Useful for giving
response to
orders,instructions and
suggesting ideas
Types of vertical communication

16. Example of downward communication

17. Example of upward communication

18. Informal channel
• Informal communication refers to interchange of information unofficially.
• This communication is based on informal relations like friendship , the same place of
birth , the membership of same club etc
• The exchange of informal messages usually takes place on certain occasions like
parties, business meals,social occasions etc

19. Grapevine
 Grapevine is an informal channel of communication which is unofficial and
unorganized.
 Grapevine is active when a group of people of similar status and interests are together
outside the organization ,eg: in the canteen or in the corridor
 Employees see it as a source of information and the management sees it as a source of
feedback

20. Types of grapevine

21. Chain grapevine
 Chain grapevine is the most common pattern in which information passes through a
series of people linked together in organization

22. Random grapevine
 The random pattern spreads in haphazard manner between people who know and who
do not know the news

23. Wheel grapevine
 In a wheel pattern one person transmits the message to different people or groups of
people.
 He is at the centre of the wheel

24. Uses of grapevine in organizations
 Acts as source of feedback
 Keeps organizations aware of potential problems
 Keeping employees well informed about the changes in procedures ,work methods or
personnel
 Helps to build trust and promote cooperation
 Concentrate on identifying and stopping wrong information from spreading
 Try to identify the influential leaders of grapevine and try to feed them with current ,
factual information

25. Objectives of communication
 Information: information involves the transferring or receiving of information about a
particular fact or situation.it may be oral or written.
Eg : If large groups have to be informed , a meeting may be called.
 Advice: It means opinion given as to the action to be taken.
Eg : Superiors can give advice to subordinates through their experience and knowledge
 Orders and instructions : order is an authoritative communication.it should be clear
and complete
Eg : Orders shall be given by superiors if a task is to be done urgently.
 Persuasion (changing attitudes) : promoting a person to act mostly in a positive way is
known as persuasion
Eg : sales person convincing the customer to buy the product .
 Suggestion: suggestion means proposing something for acceptance or rejection.
Eg : subordinates giving suggestion for any changes in the working pattern

26. Communication Goals
To get and give
information
To persuade
To ensure understanding
To get action
To change behavior

27. Contd..
• Education: Education involves imparting instruction,character,giving training to
human beings etc.it aims at improving skills.
Eg: seminars and workshops for employees.
• Warning: warning is forceful means of communication.it gives oral or written.
Eg: no smoking , beware of dogs , dangers etc
• Motivation: interest in job in the minds of employees is known as motivation . A
motivated employee does not need much motivation.
Eg : Promotion, Recognition
• Morale boosting: it refers to team spirit and co-operation of people for a common
purpose. If workers are highly motivated , morale is also said to be high,
Eg: open communication channel, listening to grievances

28. METHODS AND MODES OF COMMUNICATION
Chapter. 3

29. Most Common Ways to Communicate
Visual
Image
Speaking
Writing
Body
Language

30. Types of Communication

31. Verbal vs Nonverbal

32. Verbal communication
 When messages or information is exchanged through words is called verbal
communication

33. Types of verbal communication

34. Oral
communication
Meetings
Face to face
conversations
PPT
interviews
Telephonic conversations
Video conferencing

35. Oral communication
Oral communication is the spoken word, either face
to face or through phone ,voice chats, interviews,
public speech etc..
Effectiveness of oral communication depends on:
 Clarity of speech
 Voice modulation
 Pitch
 Volume and speed

36. Advantages of oral communication
 Oral communication is quicker as most of the time it is unplanned.
 It provides immediate feedback to the participants in the communication event.
 Oral communication is time saving
 It is also very economical.
 The modulation of voice conveys the various moods of speaker.

37. Disadvantage of oral communication
 As oral communication is unplanned there are chances of mistakes or deletions in the
messages.
 Some messages may be forgotten because of the length of message.
 In the absence of record,oral messages do not have any legal validity.
 If the receiver has not paid attention to what is being spoken,the sender may not get the
desired response.
 Poor communicators may not be able to convey the message effectively.
 It may not be as confidential as written communication

38. Written
communication
letters

39. Written communication
 Written communication includes traditional pen and papers and documents.
 It includes E.mails, Text chats ,SMS etc..
 This type of communication is indispensable for formal business
communication and issuing legal instructions

40. Advantages of written communication
 As it is documented it is a permanent record.
 It is planned and organized so it tends to have less mistakes and is more
accurate.
 The person who signs the written communication is answerable about its
content.
 Many copies of written matter can be photocopied or reprinted.
 It serves as a legal document

41. Disadvantages of written communication
 It is time consuming.
 Once it leaves the sender , he has no control over its progress.
 No face to face communication.
 Expressions and feelings cannot be conveyed through written communication,
 Written communication will not be accessible to illiterate people.
 Good writing skills are required.

42. Nonverbal Messages
Nonverbal messages are the primary way that we
communicate emotions
Facial Expression
Postures and Gestures

43. Paraverbal Messages
Paraverbal communication refers to the messages that
we transmit through the tone, pitch, and pacing of
our voices.

44. Business Etiquette
 Business etiquette is common courtesy expected of us as social beings
 It is the way we conduct ourselves while doing business in the professional arena
 Within a place of business , it involves treating workers and employer with respect in a
way that it creates a pleasant work environment for everyone

45. Telephone etiquette
1. Always identify yourself at the beginning of all calls : when in thae office
always answer a telephone by saying ;”hello/Good Morning , Accounting
Department , Sanjana speaking”.
2. Be sensitive to the tone of your voice : Do not sound overly anxious ,
aggressive or pushy It is important your tone conveys authority and confidence
3. Think through exactly what you plan to say and discuss BEFORE you
place a call : Jot down the items you want to discuss and questions you want
answered.
4. Do not allow interruptions to occur during conversations.: If you must interrupt
the conversation , say to the person,” please excuse me for a moment I’ll be right
back”. And when you return say, “thankyou for holding
5. Especially when leaving messages , speak clearly and slowly : Do not use
broken phrases , slang or idioms.
6. answ

46.  Know when to initiate a handshake: The person in a higher position
of authority or age should be the first one to extend a hand.
 Stand and look the other person in the eye before shaking
hands : Stand up before extending your hand. Make eye contact and offer
sincere smile
 Offer a greeting before and during the handshake : Your greeting
should include his or her name and a pleasantry, such as, “it’s so nice to meet
you
 Your handshake should be firm but not crushing: Don’t offer a
limp hand because it gives the impression of weakness.be firm but not
overpowering.
 The handshake should be approximately two to five seconds
in duration
Handshake Etiquette

47. Cubical Etiquette
 Knock before speaking : It’s a simple way to prevent surprising an
individual who may be deep in thought
 Avoid speaker phones : If you love talking handsfree , use a headset.
 Visit in person : standing at your desk and yelling for a co-worker located afew
cubes away will annoy your fellow employees.
 Watch your voice volume : If you know you have a louder voice than
normal voice , pay attention to your volume in the office.
 Be polite enough not to listen to conversations from other
cubicles
 While in the cubicle of a colleague , avoid reading what is on
the computer screen especially when the owner is not present

48. Office Etiquette
• Be punctual
• Dress appropriately
• Stay away from gossip
• Ask before borrowing
• Always say please and thankyou
• Don’t consistently interrupt people
• Refrain from being loud
• Be sensitive to others need for privacy
• Keep your work area tidy

49. Business Meal Etiquette
 Plan and choose the right place.
 If you are the guest, be at the place a little before the given time.
 Wait for all the members to reach.
 Avoid pilling the table with personal belongings.
 Ideally avoid alcohol during a business meal.
 Take the napkin fold it in half and place it on your lap.
 Eat neatly without dropping or spilling food.
 Avoid awkward silence.
 Try to finish food with others
 Be courteous to the waiters
 Check if the bill is accurate and tip appropriately

50. Business Card Etiquette
 Design a smart business card.
 Always carry enough business card.
 Give your card , facing the receiver so that he can read it
without turning around.
 Do not write notes on someone else’s card.
 Give your business card only those who ask for.

51. Modes of communication
The medium or channel through which communicative
intent is expressed are known as the modes of
communication

52. Landline
Cellular phones
Fax
Computers
Emails
Sms communication
Telegram

53. OBSTACLES TO COMMUNICATION IN BUSINESS WORLD
Unit 2

54. OBSTACLES TO COMMUNICATION
Chapter 4

55. Physical/environmental barriers
 Competing stimulus or noise : Our conversations may be interrupted
b,drowned by loud music,aeroplanes,trains or traffic noise.
 Environmental stress : Climate , temperature , humidity , heat,dust,rain
snow and thunder adversely affect communicators.
 Subjective stress : when individuals are subjected to stress or are
fearful,unhappy,unwell,anxious or excited they will find difficult to speak,listen
or interpret correctly.
 Ignorance of the medium: If individuals are not familiar with the medium
or its correct usage then problems are unavoidable.
 Time and distance : When a message travels over long distance or takes long
time the chances of its distortion are very many.

56. Psychological barriers
 Self image and preconceived notion : individuals interpret messages and
see reality according to their per conceived notions accepting only those
messages that boosts their image and rejecting others.
 Abstracting : communication selectivity means that we are selective about
sending,receiving and remembering messages.
 Filtering : only some information as the sender may want to give.
 Closed mind : such person has a narrow vision.such a person rejects any
other point of view.
 Unjust assumptions : Our bias,prejudice and opinions prompt us to make
unjust or unfair assumptions about others.
 Polarisation : People and events are viewed in absolute terms .People are
seen in either negative or positive terms.
 Halo effect : Judging a person on a single characteristics.

57. Mechanical barriers
 Mechanical communication barriers are technical sources of interference in
communication process
 examples : if our telephones or computers do not work properly or are out of
order.

58. Organisation barriers
 Size of organization : large organizations will have long communication
lines which will have to travel through several layers of supervision.
 Emphasis on specialization : When more people focus on micro
management their knowledge base,exposure and experience becomes
limited.This also comes in the way of meaningful interaction.
 Hierarchy and status : obsession with status and power also leads to vested
interests and groupism.
 Channels used for communication : Too much of emphasis on either
vertical or horizontal communication may affect communication.

59. Semantic /language barriers
 Mismatch between meaning and expression : We don’t often express
what we mean and sometimes don’t mean what we say.
 Use of unfamiliar language and idiom : Use of different language will
create confusions.idiomatic expression differs from person to person and the
response shall not be uniform or as expected.
 Speaking at wrong moment : Interruptions and interjections impede the
smooth flow of thought as well as speech.
 Interpretation and connotations(secondary meaning) : words possess
different associations and meanings for different people.words like terrorist
and freedom fighter will have different connotations depending on the politics
and ideology of users.
 Error in Judgement : There is often a significant gap between what has been
actually said and what people believe because we often hear only what we wish
to hear.

60. Overcoming barriers to communication
 Plan your communication
 Use simple,direct and jargon free language.
 Depend on first – hand information.
 Insist on feedback
 Use different channels and methods of communication
 Try to minimize noice and other disturbances
 Have open mind.listen to different points of view
 Don’t pre-judge
 Don’t be selective in your communication.
 Develop empathy.

61. LISTENING SKILLS AND THE USE OF SILENCE IN
COMMUNICATION
Chapter 5

62. Deepti Singh

63. Content listening :
Gathering information from
the speaker.Content is
important
Critical listening : You try
to comprehend the message
and evaluate its
meaning.need to analyse
the information
Empathic listening :
Without being judgemental
or not trying to advise will
encourage the speaker to
pour out his feelings

64. Barriers to listening
 Prejudice : Preconceived notion about the speaker makes you an indifferent
speaker.
 External factors : Environment,venue,time,distractions may hamper
listening.
 Thinking speed : we think faster than we speak.while the speaker conveys the
message our thinking process is almost done.
 Selective listening : we tend to listen things only of our interests

65. Nonverbal
 Giving full physical attention to the speaker;
 Being aware of the speaker's nonverbal messages;
Verbal
 Paying attention to the words and feelings that are
being expressed
Key Listening Skills

68. INTRODUCTION TO BUSINESS ETHICS
Chapter 6

74. Intellectual property rights and piracy
 Copyright is a legal right created by the law of a country that grants the creator
of an original work exclusive rights for its use and distribution.
 Piracy is understood to be the ‘ unauthorized use’, copying,modification or
distribution of content for self aggrandizement .
 Example: Bollywood films

75. Corporate social responsibility

76. BUSINESS CORRESPONDENCE
Unit 3

77. THEORY OF BUSINESS LETTER WRITING
Chapter 7

78. Obligatory Optional
 Letter head/sender’s address.
 Date
 Inside address/receiver’s address.
 Salutation
 Body of the letter
 Complimentary close.
 Signature block.
 Reference no.
 The confidential notation
 Attention line
 Subject line or caption line
 Enclosure
 Post script
 Identification initials
 Carbon copy notation
Parts of letter

79. Structure and forms of layout
 Full block form : a modern layout with no parts on the right hand side.the
paragraphs begin at the margins.A new paragraph is begun after a two line
spacing below the previous paragraph.
 Modified block form : almost similar to full block form,except with the date
and the complimentary close on the right hand side,paragraphs flushed with
the left hand margin with 2 line spacing between them.
 Semi block form : it is different from the modified block in that the
paragraphs begin away from the margin.the modified block form and the semi
block form are the most commonly used layouts for business letters

83. Principals of effective letter writting

84. Writing Effective Emails
The average office worker receives around 80 emails each day. With that
volume of mail, individual messages can easily get overlooked.
Follow these simple rules to get your emails noticed and acted upon.
1.Don't overcommunicate by email.
2.Make good use of subject lines.
3.Keep messages clear and brief.
4.Be polite.
5.Check your tone.
6.Proofread.

86. Solicited application letter

88. Unsolicited application letter

94. Letter of termination

96. LANGUAGE AND WRITING SKILLS
Unit 4

97. COMMERCIAL TERMS USED IN BUSINESS
COMMUNICATION
Chapter 9

98. Commonly used commercial terms
 Adjustment : Settlement of claim by businessmen of a dissatisfied customer.
 Agenda : a list of items of business to be considered at a meeting.
 Accounting principles : Accounting principles are the rules and guidelines
that companies must follow when reporting financial data.
 Account payee cheque : Words added to the crossing on a check to ensure
that check is paid only into the account of the entity to whom the check is made
out
 Accured charges : An accrued expense is an accounting expense recognized
in the books before it is paid for. It is a liability, and is usually current.
These expenses are typically periodic and documented on a company's balance
sheet due to the high probability that they will be collected.
 Acquisitions :An acquisition is a corporate action in which a
company buys most, if not all, of the target company's ownership stakes to
assume control of the target firm
 Added value ; Value-added describes the enhancement a company gives its
product or service before offering the product to customers.

99.  Affidavit : a written report which is signed by a person who promises that the
information is true
 Appreciation : Increase in the value of an asset which is in excess of the
asset's depreciable cost, and is due to economic and other factors (such as
scarcity or inflation) and not due to additions or improvements made to it.
 Arbitrator : an independent person or body officially appointed to settle a
dispute
 Assets and liabilities : Accounting standards define an asset as something
your company owns that can provide future economic
benefits. .. Liabilities are your company's obligations -- either money that
must be paid or services that must be performed.
 Bank correspondence : This refers to any form of communication received
from the bank. For ex: A letter intimating change in minimum balance to be
maintained can be considered a bank correspondence

100.  Bank reference : Inquiry from a bank regarding the financial
standing of a bank customer made by a creditor through his own
bank.
 Bargain letter : A letter from a customer to a supplier asking for
better terms or prices if he is not satisfied with the ones quoted by
the supplier.
 Bank note :A financial document by which a bank promises to pay
the bearer of the document,on demand,a specified sum of money
 Blue chip company :
A blue chip is a nationally recognized, well-established and financially
sound company. Blue chips generally sell high-quality, widely
accepted products and services. Blue chip companies are known to
weather downturns and operate profitably in the face of
adverse economic conditions, which helps to contribute to their long record
of stable and reliable growth.
.

101.  Boom :A boom refers to a period of increased commercial activity
within either a business, market, industry or economy as a whole.
 Branded goods :goods that are sold normally under the brands of
their suppliers/manufacturers
 Bulletin boards :a board on the wall of a classroom, office, etc.,
where things (such as written notices or pictures) are put so that
they can be seen by many people
 Buyer : Professional purchaser specializing in a specific group of
materials, goods, or services, and experienced in market analysis,
purchase negotiations, bulk buying, and delivery coordination.
 Buyer beware :It is a principle of contract law in many jurisdictions
that places the onus on the buyer to perform due diligence before
making a purchase. The term is commonly used in real
property transactions, but applies to other goods, as well as some
services.
.

102.  Case study :Documented study of a specific real-life situation or imagined
scenario, used as a training tool in business schools and firms
 Carat : a measure of the purity of gold, pure gold being 24 carats.
 "23-carat gold"

103.  Cartel :an association of manufacturers or suppliers with the purpose of
maintaining prices at a high level and restricting competition.
 Cash discount :A cash discount is a deduction allowed by the seller of
goods or by the provider of services in order to motivate the customer to pay
within a specified time
 Circular letter : A circular letter is a document or letter that is sent to a
closed group of people with the intention of being widely circulated. In
business, circular letters are used to inform their recipients of new policies
or other important matters.
 Claim: Legal demand or assertion by a claimant for compensation, payment,
or reimbursement for a loss under a contract, or an injury due to negligence.
2. Amount claimed by a claimant.
 Copyright :the exclusive and assignable legal right, given to the originator for
a fixed number of years, to print, publish, perform, film, or record literary,
artistic, or musical material.

104.  Collection letter :Written notification of the pending amounts, meant to
prod past-due customers to make a payment.
 Committee :
A group of people officially delegated to perform a function, such as investigati
ng, considering, reporting, or actingon a matter.
 Communication log : A record that documents the communications that
you have had concerning an action item, assessment item, lease, project, or
compliance item. For example, you may use a communication log to record a
conversation, a meeting summary, communication attempts, and so on.

105.  Compensation something, typically money, awarded to someone in
recognition of loss, suffering, or injury :
 Consensus : a general agreement.
 Covering letter : a letter sent with, and explaining the contents of, another
document or a parcel of goods.
 "you will need to write a covering letter to send with your CV"
 Credit : the ability of a customer to obtain goods or services before payment,
based on the trust that payment will be made in the future.
 Credit squeeze : A credit crunch (also known as a credit
squeeze orcredit crisis) is a sudden reduction in the general availability of
loans (or credit) or a sudden tightening of the conditions required to obtain a
loan from the banks.
 Dead freight the amount paid by or recoverable from a charterer of a ship for
such part of the ship's capacity as the charterer has contracted for but fails to
occupy; also : the unoccupied space in such a ship.:

106.  Demonetize : deprive (a coin or precious metal) of its status as money.
 Depreciation : a reduction in the value of an asset with the passage of time,
due in particular to wear and tear.
 Devaluation : the reduction or underestimation of the worth or importance of
something
 “Fair claim,fair adjustment” : a policy by means of which the claim of a
customer is granted if the complaint is found to be genuine after investigation
 Follow up letter : an action or thing that serves to increase the effectiveness
of a previous on, as a second or subsequent letter, phone call, or visit.
 Four C’s of credit : character,capacity,capital,conditions.
 Hierarchy : A hierarchy is an organizational structure in which items are
ranked according to levels of importance.

107.  House organs :A house organ (also variously known as an in-
house magazine, in-house publication, house journal, shop paper, plant
paper, or employee magazine) is a magazine or periodical published by a
company for its customers or its employees.
 Inspection report : A confidential report prepared for a life or health
insurance company on a risk, setting out the moral and physical hazards that
may or may not be present.
 Jargon :special words or expressions used by a profession or group that are
difficult for others to understand.
 Memo :a usually brief written message from one person or department in an
organization, company, etc., to another.
 Minutes : a : a brief note (as of summary or recommendation) b :
memorandum, the official record of the proceedings of a meeting.
 Morale : the confidence, enthusiasm, and discipline of a person or group at a
particular time.

108.  Post-script :an additional remark at the end of a letter, after the signature and
introduced by ‘PS’
 Prospect : a person regarded as likely to succeed or as a potential customer,
client, etc
 Report : give a spoken or written account of something that one has observed,
heard, done, or investigated.
 Sales letter series :A sales letter is a piece of direct mail which is designed
to persuade the reader to purchase a particular product or service in the
absence of a salesman. It has been defined as "A form of direct mail in which an
advertiser sends a letter to a potential customer."
 Survey : a general view, examination, or description of someone or something.
 Testimonials : a formal statement testifying to someone's character and
qualifications

109.  Trade journal : a periodical containing news and items of interest concerning
a particular time
 Window envelopes : an envelope having an opening through which the
address on the enclosure is visible.
 Embargo :impose an official ban on (trade or a country or commodity).
 Fiscal year : North American term for financial year
 Forgery : the action of forging a copy or imitation of a document, signature,
banknote, or work of art

110.  Franchise : an authorization granted by a government or company to an
individual or group enabling them to carry out specified commercial activities,
for example acting as an agent for a company's products.
 Go slow :a form of industrial action in which work or progress is deliberately
delayed or slowed down.
 Guarantee : a formal assurance (typically in writing) that certain conditions
will be fulfilled, especially that a product will be repaired or replaced if not of a
specified quality
 Incentive : something that incites or tends to incite to action or greater effort,
as a reward offered for increased productivity
Journal : business diary in which all financial data (taken usually from a
journal voucher) pertaining to the day to day business transactions of a firm is
recorded using double-entry bookkeeping system

111.  Lay off : Suspension or termination of employment (with or without notice) by
the employer or management. Layoffs are not caused by any fault of the
employees but by reasons such as lack of work, cash, or material. Permanent
layoff is called redundancy.
 Lien : A right given to another by the owner of property to secure a debt, or
one created by law in favor of certain creditors
 Listed company : Company whose shares are traded on an official stock
exchange.
 Merger : A merger is a deal to unite two existing companies into one new
company.
 Mortgage : a legal agreement by which a bank, building society, etc. lends
money at interest in exchange for taking title of the debtor's property, with the
condition that the conveyance of title becomes void upon the payment of the
debt.
 OligopolyOligopoly is a market structure in which a small number of firms has
the large majority of market share. An oligopoly is similar to a monopoly,
except that rather than one firm, two or more firms dominate the market.

112.  Parent company : A parent company is a company that controls other,
smaller businesses by owning an influential amount of voting stock or control.
 Pay off : Complete repayment of a loan (principal plus interest), full discharge
of an obligation, or the return from a deal, decision or investment.
 Pie chart : A type of graph in which a circle is divided into sectors that each
represent a proportion of the whole
 Prospectus : A prospectus is a formal legal document that is required by and
filed with the Securities and Exchange Commission that provides details about
an investment offering for sale to the public.
 Quorum : The minimum number of members of an assembly or society that
must be present at any of its meetings to make the proceedings of that meeting
valid.
 Recession: Recession is a significant decline in activity across the economy,
lasting longer than a few months. It is visible in industrial production,
employment, real income and wholesale-retail trade.
 Red tapism :Red tape is the colour of binding tape of the Government files in
which the papers are kept tied up. The word is used for delay in moving the
papers in Government Departments.

113. • Royalty : A royalty is a payment to an owner for the use of property,
especially patents, copyrighted works, franchises or natural resources.
 Slump : a sudden severe or prolonged fall in the price, value, or amount of
something.
 Strategy : a plan of action designed to achieve a long-term or overall aim.
 Tariff : a tax or duty to be paid on a particular class of imports or exports.
 Underwriter : Entity who (1) is in the business of evaluating and taking over
other people's risk for a fee variously called a commission, interest, premium,
or underwriting spread, or (2) sponsors an event or program by paying all or
part of the associated expenses in return for publicity or its name, message,
and/or product.
 WritA written order issued by a court, commanding the party to whom it is add
ressed to perform or ceaseperforming a specified act.
 Xerography : A dry copying process in which black or coloured powder
adheres to parts of a surface remaining electrically charged after being exposed
to light from an image of the document to be copied.

114. PARAGRAPH WRITING AND COMMUNICATION SKILLS
Chapter 10

130. What makes a good communicator?
Clarity
Integrity Timing
Adequacy

131. Tips to good communication skills
Maintain eye contact with the audience
Body awareness
Gestures and expressions
Convey one's thoughts
Practice effective communication skills
At Last

132. Effective Communication . . .
It is two way.
It involves active listening.
It reflects the accountability of speaker and listener.
It utilizes feedback.
It is free of stress.
It is clear.