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MANAGERIAL COMMUNICATION COMMUNICATION: Communication is the activity of conveying meaningful information. Communication can be perceived as a two way process in which there is an exchange and progression of thoughts, feelings or ideas towards a mutually accepted goal or direction. Communication is a process of transferring information from one entity to another. Communication processes are sign mediated interactions between at least two agents which share a repertoire of signs and semiotic rules. Communication is commonly defined as " the imparting or interchange of thoughts, opinions, or information by speech, writing, or signs. Managerial Communication: Managerial Communications involves gathering important information from both inside and outside the organization and distributing appropriate information to others who need it. If you carefully analyze a mangers job it is evident that Managerial Communication is essential for every Management Function known To Business. For example, when managers perform the planning function, they gather information, write letters, memos, and reports, and then meet with other managers to explain the plan. When managers lead, they communicate to share a vision of what the organization can be and motivate employees to help achieve it, when managers organize; they gather information about the state of the organization and communicate a new structure to others. In this light it is safe to conclude that Managerial Communication is a fundamental part of every managerial activity. While Managerial Communication is a wide area of study; I will be focusing on two key areas, namely Organizational Communication and Internal Communication . Organizational Communicationis how people communicate within an organization or the influence of organizational structures in communicating. Interpersonal Communicationdeals with interaction between people. Communication in Business a) Managerial Communication: Strategies for setting and achieving specific organizational objectives. b) Organizational Communication: Communication networks and the communication flow within organizations and an organization communication climate. c) Human relations & Teamwork: To develop good interpersonal communication between and among those who work together. d) Sales communication: To produce sales, from media based advertising to telephone solicitation, to direct mail advertising and direct (face to face) sales. e) Report Writing: Memos to letters reports (basically long letters that include headings and other report writing techniques), to complete analytical reports. The fundamentals of primary and secondary research, technique for data analysis, and

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analytical and presentation graphics. Communication Technology & Electronic Communication : Whether word

f)

processing, page layout and graphic design, electronic mail (email), electronic conferencing, internet based services, audio or video conferencing or multimedia presentations, the technology we use to communicate. (IT) g) International communication (Intercultural Communication): Expectations and behaviour, to establish business and personal relationships. Purpose and functions of communication in Management: In organization i. ii. iii. Collect informations. Convey informations and decisions. Promote interpersonal unity. Internal Information. External Information.

Communication Model/ Communication Components/Communication cycle:

Components Context. Sender Encoder. Message. Medium. Receiver Decoder. Feedback/Response Model Stimuli Input Message Channel Output Feedback/Response Brain Drain or Down

The information/ideas Information Verbal and non-verbal Receiver gets Break Misunderstanding (Any time)

OBJECTIVES OF COMMUNICATION (Function of Basic Communication) a) b) c) d) e) f) g) h) i) j) k) l) m) n) Human Relations To Promoting Mutual Understanding. Information Wars, Danger, Crisis, Famine, Etc., Advice Opinions (Subjective) Counseling. Order (Direction) Education &Instruction (Guidance) Suggestions & Complaints Persuasion Feelings and Beliefs. (Influence To Action) Raising Morale & Motivation Mental Health. Empathy. Entertainment - Films, Television, Radio, Drama, Music, Literature, Comedy, Games, Etc. Discussion Viewpoints and Impart New Ideas to Others. Cultural Promotion - Creative Urges. Integration.

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PRINCIPLES OF COMMUNICATION (Factors of Communications) a. b. c. d. e. f. g. h. i. Clarity of Ideas, Facts, Opinions. Information. Extensiveness. Emphasis on Attention. Consistency. Integration. Informal Organization. (Group, Grapevine) External Communication. (Government, Distributors, Retailers, Customers, Supplier, etc.,) Factors to Promotion.

TYPES OF COMMUNICATION
Communication Generally Classified into different types 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) 14) 15) 16) Verbal/Nonverbal Communication. Oral/written Communication. Formal/Informal. Technological/Non technological. Mediated/Non Mediated. Participatory/Non Participatory. Intra personal/Interpersonal. Focused/Unfocused. Mass Communication/Group Communication. Facilitated Communication. Graphic Communication. Science Communication. Nonviolent Communication. Strategic Communication. Superluminal Communication. Based on Organization. Upward Communication. Downward Communication. Horizontal Communication. Grapevine. Consensus.

VERBAL: Verbal communication refers to spoken messages that we transmit by producing sounds. Oral communication generally involves both verbal and non-verbal symbols.
Advantage Adjustment of message. Immediate clarifications. Time.

Future reference. Speakers preparedness. Lengthy message.

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Persuasion and control. Formality. Cost. Distortion. Retaining the message.

NONVERBAL: Nonverbal communication is usually understood as the process of communication through sending and receiving wordless (mostly visual) messages - i.e., language is not the only source of communication, there are other means also. Messages can be communicated through gestures and touch (Haptic communication), by body language or posture, by facial expression and eye contact FORMAL/INFORMAL: This differentiation of communication is mainly on the basis of situations. In situations like public speaking, mass communication, official communication, etc. formal communication is used. Here, language is used more precisely, and more attention is paid to grammar. Also we pay attention to our dress, posture, etc. formal communication occurs in the context of status differences. Informal communication takes place in case of informal and personal situations. Less attention is paid to structure of language and grammar. Also less attention is paid to nonverbal behavior like clothing, gait, posture, etc.
Formal communication channels relate to the structure of the organization. They include; 1. 2. 3. 4. 5. Reporting relationships and policies. Committee meetings. Bulletin boards. Participation in group events. Internal newsletters. Conversations at break times. Grapevines. Consensus.

Informal communication channels are those that develop through social interaction. They include

INTERPERSONAL COMMUNICATION: Interpersonal communication is usually defined by communication scholars in numerous ways, usually describing participants who are dependent upon one another and have a shared history. Communication channels, the conceptualization of media that carry messages from sender to receiver, take two distinct forms: direct and indirect. INTRAPERSONAL COMMUNICATION: It occurs when an individual sends and receives messages internally. We spend most of our time thinking. And our thought process is nothing but intrapersonal communication where one person is sending messages and the same person receives them. Here we use the central nervous system (CNS) and peripheral nervous system (PNS) for generation, transmission and receiving of messages. We react to both external and internal stimuli this way. In addition to our thought process, many times we also talk aloud with ourselves.

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Intrapersonal communication The process of Reception: stimuli are picked up by the sensory organs (PNS) & then sent to the brain. Selective perception. Cognitive. Emotional. Physiological. Transmission. Self feedback. Interference or noise.

MASS COMMUNICATION: Any mechanical device that multiplies messages and takes it to a large number of people simultaneously is called mass communication. It is usually understood to relate to newspaper and magazine publishing, radio, television and film, as these are used both for disseminating news and for advertising. Mass communication is a special kind of communication in which the nature of the audience and the feedback is different from that of interpersonal communication.
Functions Communication of Mass To inform. To educate To entertain and To persuade.

GROUP COMMUNICATION: is an extension of interpersonal communication where more than two individuals are involved in exchange of ideas, skills and interests. Communication in a group, small or big, serves many goals including collective decision-making, self-expression, increasing ones effect, elevating ones status and relaxation. Group communication is considered effective as it provides an opportunity for direct interaction among the members of the group; it helps in bringing about changes in attitudes and beliefs. Group communication has limitations too, as group interaction is time consuming and often inefficient, especially in an emergency. GRAPHIC COMMUNICATION: Graphic communication as the name suggests is communication through graphics and graphical aids. It is the process of creating, producing, and distributing material incorporating words and images to convey data, concepts, and emotions. SCIENCE COMMUNICATION: Science communication generally refers to media aiming to talk about science with non-scientists. It is sometimes done by professional scientists (then often dubbed 'outreach' or 'popularization') but has evolved into a professional field in its own right. It includes science exhibitions, science journalism, and science policy and science media production, among other things

STRATEGIC COMMUNICATION: Strategic Communication can mean either communicating a concept, a process, or data that satisfies a long term strategic goal of an organization by allowing facilitation of advanced planning, or communicating over long distances usually using international telecommunications or dedicated global network assets to coordinate actions and activities of operationally significant commercial, non-commercial and military business or combat and logistic subunits. It can also mean the related function within an organization, which handles internal and external communication processes. Strategic communication can also be used for political warfare. SUPERLUMINAL COMMUNICATION: Superluminal communication is the term used to describe the hypothetical process by which one might send information at faster-than-light (FTL) speeds. NONVIOLENT COMMUNICATION: Nonviolent Communication (NVC) is a way of speaking that facilitates the flow of communication needed to exchange information and resolve differences peacefully. It helps us identify our shared needs, encourages us to use language that increases goodwill, and avoid language that contributes to resentment or lowers self-esteem. Nonviolent Communication focuses our attention on compassion as our motivation, rather than fear, guilt, blame, or shame. It emphasizes taking personal responsibility for our choices and improving the quality of our relationships as our goal. It is effective even when the other person or group is not familiar with the process. Based on Organization: Upward Communication: It is refers to the flow of information from Operation Level to Top Level within the Organization. (Information, Requests, Reports, Proposals, Feedback, Suggestions and Recommendations) It gives an opportunity to an employee to express his frustrations of the work situation and helps him to relieve the pressures of the pent-up emotions, which are associated with their daily problems.
Methods of Upward Communicati on (Channels) 1) 2) 3) 4) 5) 6) Meetings. Counseling. An Open-Door Policy. Correspondence. Reports. Complaints and Suggestions Boxes. Social Gatherings. Positive Encouragement. (Native Encouragement) No useful information. Concealing Unfavorable facts. Delay, Distortion (Misrepresentation) and Filtering. Bypassing and Suspicion (Doubt). Poor Listening. Communicating Criticism.

Problems of Upward Communicati on

Effective Upward Communication 1. The lines of communication should be kept as short as possible to avoid the distortion by filtering, screening and editing. 2. To find out how the employees feel about their jobs, it is always convenient to conduct the employee attitude surveys. 3. There should be a formal system to handle the suggestion objectively and seriously. 4. Positive efforts must be taken by the superiors to eliminate the fear and awe of the authority from the minds of the workers. 5. Constructive suggestions for the improvement of the organization must be suitably rewarded. If the information transmitted by the employees is ignored, they will quickly abandon this channel. Therefore, the upward communication must be reinforced and rewarded with adequate attention. 6. The management must ensure the workers that they feel genuinely concerned for the problems and grievances of the subordinates. 7. It is essential to build a corporate atmosphere of trust. There must be mutual trust in the relationship between the superiors and the subordinates. If the workers think that they are going to be rewarded with punishment for their feedback, they will never provide it.
Merits Opportunity. Involve of Management Decisions Feedback Job Satisfaction Improve Morale Demerits Privilege. Employees are reluctant to express themselves. Great Possibility of Distortion. Bypassed superiors feel insulted. Message Overload. Employee fear that their criticism may be interpreted as a sign of their personal weakness.

Downward Communication: It usually dealt with job instructions, rationale, information and feedback. The effective downward communication is crucial to the success of the organization. It is a very suitable channel to the organization in which the chain of command is arranged in the ranks that are distinctly one below the other.
Objectives of Communication Downward 1. 2. 3. 4. To give directives about some job. To explain policies and procedures. To convey assessment of performance. To explain the rationale of the job. Oral. (oral instructions, Orders and Meetings) Written. (Letters, Circulars, Memos, Company Journals, Notes, Posters) Video & Audio.

Media of Communication

Downward

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1. 2. 3. Telephone calls.

Effective Communication

Downward

Face-to-face conversations. Speeches to the employees. It should be adequately informed. It should be clear about how much to communicate. Some authority should be delegated to operation levels to shorten the line of communication. 4. Information should be passing down the correct person.

Merits Effective communication. Prevention of errors. Correction of employees errors. Generate job satisfaction. Improve morale It consolidates the organization.

Demerits Delay. Loss of Information. Distortion. Insufficient management. Unclear message. Message overload.

Horizontal Communication: its flow between people at the same level. It is important for promotion understanding and coordination among various people or departments.

Method of communication

horizontal

1. Face to face discussion. 2. Telephonic communication. 3. Periodical meetings. Demerits Physical barriers. Riva try occurring. Lock of motivation.

Merits Increase cooperation. Understanding to achiever the mission.

Grapevine: To hear something through the grapevine is to learn of something informally and unofficially by means of gossip and rumor. The usual implication is that the information was passed person to person by word of mouth, perhaps in a confidential manner among friends or colleagues.
Importance 1. 2. 3. 4. 5. A safety value. Organizational solidarity and cohesion. Supplement to other channel. Quick transmission. Feedback.

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Limitations of Grapevine The grapevine may carry some degree of error in it. The baseless, imaginary and non-factual messages may prove harmful to the organization. Often the employees feed the grapevine with self-serving information. They add to the facts rather than simply report. The grapevine often carries incomplete information, which leads to misunderstanding of the receiver. The communicator does not take the responsibility of the message. Sometimes the grapevine spreads the message so swiftly that it causes damage to the organization.
Merits Speedy transformation. Feedback. Support to other channel. Physical satisfaction. Demerits Distortion of information. May transmit incomplete information. Travels with destructive swiftness. The grapevine often clistors.

Types

of

Grapevine

Effective Grapevine

1. 2. 3. 4.

Single stand: flow like a chain. Gossip: one person tells everybody else. Probability (Random): Information may move from anybody to anybody. Cluster. Keep an eye on rumour Managers. Use it primarily for feedback. Contradict rumours promptly. Involve the workers in the decision making process.

Consensus: is the process of arriving at agreement through consultation. Consensus is not unanimity, but dissent is not expressed in the larger interest. Significance of Consensus 1. The consensus communication projects a good image of the management. 2. The essential image of the management presented through consensus strengthens the confidence of the employees in their superiors. 3. There can be little or no chance for conflict among the employees because the instructions issued by the directors never conflicts with each other. 4. The consensus is always based on the attitude of mutual respect, which enables the members to accept and support the views of each other. 5. The members promptly accept the decisions of consensus because they are derived after mutual consultations.

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6. The process of consensus ultimately leads to an unquestioning acceptance of the authority of the chief. 7. The trust of the members in their chief helps to avoid the splits and conflicts between the majority and the oppositions.
Merits Decision easy to accept. Promotes harmony, checks conflict and splits. Demerits Dissent is often in the name of consensus. May degenerate into a process of mutual accommodations. May project a false image of Management.

MEDIA OF COMMUNICATION 1. 2. 3. 4. 5. Written Communication. Oral Communication. Visual Communication. Audio Visual Communication. Computer based Communication.

Written Communication: Written Communication means communication by means of written symbols (either printed or handwritten).There are several types of written communication in business like e-mail message, memos, proposals, reports, letters, bulletins, minutes, orders, quotations, contracts, forms, enquires etc.

Merits
Ready Reference. Legal defense Promotes uniformity. Mass Access Suitable for Distance Communication. Image Building Accurate and Unambiguous. Permanent in Nature. Facilitates in order responsibility. to assign

Demerits
Limited to Literate world. Time Consuming. Lot of Paper Work. Needs Expertise in Expression. Lack of Immediate Feedback. Costly than Oral Communication. More man hours needed. No immediate clarification.

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Permits Substitutions & Revisions.

Effective Written Communication

Draft an outline at the beginning by proper planning. Focus on the audience, purpose, topic and desired outcome. Simply writing or talking, without regard to the recipients response, is conducive to creating a gross misunderstanding George Terry. Structure the Introduction, Body and Conclusion in a systematic and logical order. Focus on each paragraph. Understand the readers perception. Avoid grammatical mistakes. Use proper vocabulary, punctuations, commas, colons and semi-colons. Avoid using slang language. Avoid using you while making any criticism. Always start with a positive phrase. Always write the name of the company and the person correctly. Keep sentences short, clear and concise. Avoid repetition and too many irrelevant details. Elaborate on the technical language and jargons used. Effectively use the charts, graphs, diagrams and pictures. Never express your anger, frustration, irritation and aggression in written communication. Proof read the document before sending. Use proper communication channel. Get a proper feedback. Continuously update yourself to improve written skills.

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Writing Process
Start Gather Organi ze Focus Draft Finish Edit Files, Articles, Financial Statement, Telephone Interviews, Personal Interviews, WWW, CD-ROMs, Internet Database, Brainstorm, Personal Notes, Etc., Batching, Concluding, Heading, Strategic Ordering Skim only Technique, Nutshell Technique, Teach your Ideas, Elevator Technique, Price per word Technique, etc., Organize and Focus first, Compose in any order, Avoid Editing, Get a typed copy, Leave a time gap before editing. Edit for strategy, Edit for Macro issues, Edit for Micro issues, Edit for Correctness

Oral Communication: communication by word of mouth; "his speech was garbled"; "he uttered harsh language"; "he recorded the spoken language of the streets". It includes face to face to conversation, over the telephone, radio broadcasts, interviews, presentations, meetings, group discussions, conferences, seminars, announcements over the address, speeches, etc.,
Merits Time saving. Money saving. More effective with groups. Immediate feedback. Clarification possible. Can be informal. Speech is a more powerful means of persuasion and control. Demerits Not possible for distant people in the absence of mechanical devices. Unsuitable for lengthy messages. Messages cannot be retained long time. No legal validity. Greater changes of misunderstanding. Not easy to fix responsibility in cast of misunderstanding.

Effective Oral Communication

o o o o o o o o o

Clean Pronunciation. Brevity. Precision. Conviction. Legal Sequence. Appropriate word choice. Avoiding Hackneyed Phrases & Clichs. Natural Voice. Finding the Right Register.

Visual Communication: Visual communication as the name suggests is communication through visual aid and is described as the conveyance of ideas and information in forms that

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can be read or looked upon. Visual communication solely relies on vision, and is primarily presented or expressed with two dimensional images, it includes: signs, typography, drawing, graphic design, illustration, colour and electronic resources. It also explores the idea that a visual message accompanying text has a greater power to inform, educate, or persuade a person or audience.
Merits Its clear to everybody. Easy to convey Message. Pictures, posture etc., are economized. Motivates the viewers. Demerits Only elementary and single data. Drawing picture, cartoons are difficult. Spot correction is not possible. Expert

Audiovisual Communication: Audiovisual communication as the name suggests is communication through audiovisual aid and is described as the conveyance of ideas and information in forms that can be read and hear the information. It encompasses television and cinema films that combine the visual impact with narration. It is most suitable for mass communication. Merits
It is clear to everyone. Easy to convey message. Motivates viewers. Time management.

Demerits
Costlier. Time period. Misunderstand.

Computer based Communication (CC): Computer communication is defined as any communicative transaction that occurs through the use of two or more computers. While the term has traditionally referred to those communications that occur via computer-mediated formats (e.g., instant messages, e-mails, chat rooms), it has also been applied to other forms of text-based interaction such as text messaging. Research on CC focuses largely on the social effects of different computer-supported communication technologies. Many recent studies involve Internet-based social networking supported by social software.
Merits The quickest means of communication. The barrier of space conquered. Video conferencing can replaced meetings. Storage and retrieval of permanent record has become easier. WWW (World Wide Web) better consumer service, better dissemination of information. Demerits Uncertain legal validity. Fear of undesirable leakage. Virus malady.

BARRIERS OF COMMUNICATION: Planning, preparation and practice of communication will be incomplete and unsuccessful unless one identifies and understands the barriers of

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communication. These barriers are physical, sociological and psychological obstacles that interfere with the planning, organization, transmission and understanding of the message.
1) Language Barrier a. b. c. d. e. 1) 2) 3) 4) 5) 6) 7) a. b. c. d. e. Lack of common language. Semantic Barrier. Poor vocabulary. Poor Grammar and Punctuation. Roundabout Verbiage Noise. Time. Distance. Age. Sex. Environmental disturbances. Health issues. Lack of common experience. LNGUISTIC different language and vocabulary Lack of knowledge of any language. Overuse of abstraction. From receiver side. i. Interrupting the speaker. ii. Asking too many questions, for the sake of probing. From sender side. i. Unclear message. ii. Incomplete sentences. iii. No clarifications. Poor pronunciation. Confused thinking. Communication overload. Unnecessary repetitions. Attitude creates social evils. Ethnic (national), religious, and social differences. Traditions barring people of different cultures from mingling together. Barriers to membership of age up.

2) Physical Barriers

3) Perceptual barriers

f.

4) Emotional barriers

a) b) c) d) e) i. ii. iii.

5) Cultural barriers

6) Interpersonal barriers

a) Withdrawal is an absence of interpersonal contact. It is both refusals to be in touch and time alone. b) Rituals are meaningless, repetitive routines devoid of real contact. c) Pastimes fill up time with others in social but superficial activities.

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d) Working activities are those tasks which follow the rules and procedures of contact but no more. e) Games are subtle, manipulative interactions which are about winning and losing. They include rackets and Stamps. f) Closeness is the aim of interpersonal contact where there is a high level of honesty and acceptance of yourself and others. 7) Social-psychological Barriers a. b. c. d. e. f. g. h. i. j. Status barrier. Attitudes and values. Different perception of reality, Inference. Abstracting. Closed-Mindedness. Distortion, filtering and editing. Bad listening. Emotions. Resistance to change.

8) Gender barriers

A. Man. Prefer conversation for rapport buildings. Want empathy, nor solutions. Are more likely to compliment.

Emphasize politeness. More conciliatory. B. Woman. Talks as a means to preserve independence and status by displaying knowledge and skill. Workout problems on an individualized basis. Are more directives in conversations. 9) Mechanical barriers Call attention to their accomplishments. Tend to dominate discussions during meetings.

1) We use different instruments and machines for communicating our messages. Very often, the selected medium itself becomes a barrier. 2) Absence of means of communication. 3) Faculty instruments. 4) Interruptions on radio and television. Types of Mechanical barriers Non availability of proper machines. Presence of defective machines. Interruption. Power failures.

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10) Organizational Barriers

1. 2. 3. 4. 5. 6. 7. 8.

Rules and regulations. Status and position. Complex organization. Facilities. Lack of chain of command. Bureaucratic delay. Political manipulations. Class confects.

11) Organizational climate barriers

a. Fear. i. Fear of being misinterpreted. ii. Fear of distortion by gossip. iii. Fear of exposing oneself to criticism. iv. Fear of getting fired. b. Poor or ego centered supervision. c. Insincerity and lack of confidence.

2. Barriers of communication cycle.

Encoding Lack of sensitivity to Receiver. Lack of communication skills. Insufficient knowledge of the subject. Information overload. Emotional interference. Transmitting Physical distractions. Conflicting messages. Long communication chain. Channel barriers. Decoding Lack of interest. Lack of knowledge. Lack of communication skills. Emotional distractions. Physical distractions. Responding No provision for feedback.

Overcome Barriers

1. 2. 3. 4. 5.

Learn to use feedback well. Be sensitive to receivers point of view. Listen to understand. Use direct, simple language/at least use language appropriate to the receiver. Learn to use supportive communications, not defensive communications.

Effective Communication: is a two-way process - sending the right message, that is also being correctly received and understood by the other persons. (Same sense).
Appropriate communication style. Audience centered approach.

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Understanding of intercultural communication. Commitment of ethical communication. Proficiency in communication technology. Control over the flow of communication. Reducing the number of messages. of Effective 1. 2. 3. 4. 5. 6. a) b) c) d) e) f) g) Maintain eye contact. Be aware of body position and language. Use language the customer understands. Use the customers proper name. Be honest. Listen. Clarity. Completeness. Coherence. Conciseness. Credibility. Correctness. Continuity.

Principles Communication

7 Cs of Effective Communication

Towards effective communication in Organizational:

1. 2. 3. 4. 5. 6. 7. Enterprises, into must flow faster. Short stoppage on fast moving production line costly lost output. Production problems communicated quickly for corrective action. Into increased frequently causing into overload. Need more relevant information. Necessary to determine what kind of into massager need to have for effective decision making. Getting information from managers superiors and subordinated from depts. and people elsewhere organization.

COMMANDMENTS OF GOOD COMMUNICATION

Seek to clarify your ideas before communicating. Examine the true purpose of each communication. Consider the total physical and human setting whenever you communicate. Consult with others in planning communication channels. Be mindful, while you communicate, of the overtones as well as the basic content your message. Take the opportunity when it arises to convey something of value or help to the receiver. Follow up your communication. Communicate for tomorrow as well as today. Be sure your actions support your communication.

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Seek not only to be understood but to understand as well. Learn to listen with the inner car to known the inner man.

COMMERCIAL TERMS & ABBREVIATIONS

Abandonment Acceptance : :
The act of relinquishing claim or right to property. A draft calling for payment at a future date which the drawee has agreed to pay by signing "Accepted" on the draft. An unconditional assent to an offer; or an assent to an offer conditioned on only minor changes that do not affect any material terms of the offer; An agreement to purchase goods on specified terms. Receipt of a shipment by a consignee thus terminating the liability of the carrier for delivery. Same as Applicant, the party at whose request a bank issues a letter of credit. From the Beginning. According to value. A letter of credit whose terms and conditions have been notified to the beneficiary by an advising bank on behalf of the issuing bank. The advising bank does not thereby commit itself to pay or guarantee the payment of the letter of credit. An 'advising bank' is a correspondent of a bank which issues a letter of credit, and, on behalf of the issuing bank, the advising bank notifies the beneficiary of the terms of the credit, without engagement on its part to pay or guarantee the credit. A piece of paper attached to a bill of exchange for further endorsement. Same as "about" and "circa"; terms which when used in a letter of credit are construed to allow a difference not to exceed 10% more or 10% less than the monetary amount, or the quantity, or the unit price. The valuation, or determination as to value, of property. The act of apportioning amounts to be paid. An amount assessed or charged, for example: taxes or dues. A sum of money payable annually. At face value. The return of a carrier to the original point or area from which its journey began. If a carrier can obtain cargo to carry on the back haul route that cargo may often obtain a favorable freight rate because otherwise the carrier would have to return empty. A statement summarizing all the economic and financial transactions between companies, banks, private households and public authorities of one nation with those of the other nations of the world over a specific time period. It includes merchandise trade payments, payments and receipts on account of shipping services, tourist services, financial services, government expenditures, short and long term capital movements, interest and dividends, gold movements, etc. The difference in value between a country's total imports and exports over a specific time period. A promissory note having the appearance of currency, issued by a bank or banker authorized to do so, payable to bearer on demand, and intended to circulate as money.

Account Party Ad initio Ad valorem Advised Credit

: : : :

Advising Bank

Allonge Approx. (Approximately) Assessment

: :

a) : b) c)

Annuity At par Back Haul

: : :

Balance Payments

Of

Balance of Trade Bank Note

: :

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Banker's Bank Barter Bill : : a. :
b. A bank that is established by mutual consent by independent and unaffiliated banks to provide a clearinghouse for financial transactions. Trade of goods or services without the use of money. A "Bill of Exchange" or "Draft" (same thing). A written statement of contract terms. The word "Bill" has many other international trade connotations - "Invoice" etc. A written authority from one person to another, empowering the recipient of the document to receive money from the correspondents of the issuer abroad. (The usual issuer is a bank) Draft or Bill.

Bill of Credit

Bill of Exchange Bona Fide Bond

: : In or with good faith, honesty, and sincerity. 1) : A written undertaking to perform or refrain from performing specified acts,
2) usually guaranteed by a third party. A security evidencing debt, specifying the date payment is due and usually specifying a rate of interest and its dates of periodic payment. Goods are a bonded warehouse. An approved private warehouse used for the storage of goods until duties or taxes are paid and the goods are properly released by Customs. Bonds must be posted by the warehouse proprietor and by the importer to indemnify the government if the goods are released improperly. (USA) The making of arrangements for a shipment with the representatives of a vessel or airline. Term referring to a trailer, semi-trailer, or container used in transportation. A type of package of wood, cardboard, metal, plastic or other material. A demand for early repayment of an obligation, or for the performance of a specific act under a contract. A demand for the payment of money. The act of redeeming a bond earlier than the full term. Short for "Call Option," a contract giving the holder the right to receive from the issuer a specified amount of a security at a specified price on or before a certain date. Short for "Margin Call" - a call by a future or an options exchange, or by a broker to its clients, for additional collateral to that previously posted when the futures, options, or securities were purchased without posting their full value. Merchandise hauled by transportation lines. A legal entity that is in the business of transporting passengers or goods for hire. Official proof of authenticity. The formal assertion of some fact in writing. The completion of governmental requirements so that a carrier may arrive in a port and unlade cargo and passengers, or may lade cargo and passengers and depart for a foreign destination. The accomplishment of the customs formalities necessary to allow goods to be imported or to be exported. An invoice covering a shipment of goods, usually required to be certified by the counsel of the country for which the merchandise is destined. It may be required to be on a special form and be subject to the payment of special fees. An authors exclusive right to publish his work. A draft which matures a specified number of days after the date it is issued.

Bonded Goods Bonded Warehouse

: :

Booking Box Call

:
1) : 2) 1) : 2) 3) 4)

5)

Cargo Carrier Certification Clearance

: : :
1) :

2)

Consular Invoice

Copyright Date Draft

: :

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Dock Drawback Duty Easement Earnest Money Embargo Flag Free Port Freight
1. : 2. A loading or unloading platform at an industrial location or carrier terminal. A ship's berth or wharf. The right to refund of import duty paid when the goods are re exported. A tax levied by a government on the import or export of goods. A right to use another person's property. Money to be deposited along with a tender. A government prohibition of exports or imports with respect to specific products or specific foreign countries. A reference to the country of registry of a vessel.

: : : : :

: : An area where imported goods may be brought without payment of duties. 1) : All merchandise, goods, products, or commodities shipped by rail, air, road, or
2)

General Agreement On Tariffs And Trade (GATT)

Tare Weight

Visa

water, other than baggage, express mail, or regular mail. The compensation paid for the transport of goods. Both a multilateral trade agreement aimed at expanding international trade and the organization which oversees the agreement. The main goals of GATT are to liberalize world trade and place it on a secure basis thereby contributing to economic growth and development and the welfare of the world's people. The organization, GATT, has been succeeded by the World Trade Organization (WTO). The weight of a container and/or packing materials, but without the goods being shipped. The gross weight of a shipment less the net weight of the goods being shipped. (In other words, the weight of the packing.) A stamp, seal or endorsement on a document validating it for a particular use such as on a passport admitting the holder to a country, or on a license issued by the government of an exporting country for the export to a specific importing country of a certain quantity of a quota controlled commodity subject to a voluntary export restriction or a voluntary restraint agreement.

ABBREVIATIONS
@ a.a.r a/c. a/c., acct. A/d. A/s A/S Ad.Lib. Advt. Amt. ASAP Attn. B/E B/L C. and D. C/N c/o Carr. pd : : : : : : : : : : : : : : : : : : At the rate of. Against all risks. Account Current, Account. After date. At sight. Account Sales. Ad Libitum, at pleasure. Advertisement. Amount. as soon as possible. (for the) Attention (of) Bill of Exchange. Bill of Lading. Collection and Delivery. Credit Note. Care of. Carriage Paid. cc cf. cfr. cif cip co. cod Comn. Corp. cpt. cr cwo. D/A D/D D/P DBA ddp ddu : : : : : : : : : : : : : : : : : : Carbon Copy. Compare. Cost and freight. Cost, Insurance, Freight. Carriage and Insurance Paid to. Company Cash on Delivery. Commission. Corporation. Carriage Paid to. Credit. Cash with Order. Documents Against Acceptance. Demand Draft. Document against payment. Doing business as. Delivery Duty Paid. Delivery Duty unpaid.

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Dept. des dis. DN E E.&O.E e.g ea Encl. [enc(s)] Esq. EXW fcp. fo. fob For FY FYI Gen. Gov. Govt. H.P Hon. i.e i.e. Ibid. Inc Inc. L/C. Lt. Ltd M.A M.D M.S mdse Mfg Mgr. Mss. N o.k. p&p p.p p.p P.S. P/A Ph.D pto Pvt. qtr R.N : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : Department. Delivery ex ship. District. Debit Note. East Errors and Omissions Excepted. For example. each. Enclosure (s) Esquire. Ex works. Foolscap. Folio. Free on board. Free on rail. Fiscal year. For your information. General. Governor. Government. Horse power Honorable. That is. Id eit (that is) Ibidem (in the same place) Incorporated Incorporated. Letter of Credit. Lieutenant. Limited. Master of Arts. Doctor of Medicine. Master of Science Merchandise. Manufacturing. Manager. Manuscripts. North. All correct. Postage and Packing. on behalf of Pages. Postscript. Power of Attorney. Doctor of Philosophy. Please turn over. Private Quarter. Registered Nurse re Rev. RRP S SAE sec. Sgt. Sr. St. Ste. Treas. V.P V.P.P VAT viz. W. Y.A.R ZIP : : : : : : : : : : : : : : : : With reference to, regarding. Reverend Recommended retail price South Stamped Addresses envelope Secretary Sergeant Senior Saint Saint (feminine) Treasuer Vice President Value Payable by Post. Value Added Tax. Videlicet nam ly. West York Ant west Rules of Insurance. Zone of Improved Delivery.

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CORRESPONDENCE: Correspondence may refer to: In general usage, non-concurrent, remote communication between people, including letters, email, newsgroups, Internet forums, blogs.,
Importance of Business Correspondence a) b) c) d) e) Help in maintaining proper relationship. Inexpensive and convenient mode. Create and maintain goodwill. Serves as evidence. Help in expansion of business.

Letter: A message that attempts to influence its recipient to take some action or attitude desired by the sender Rober L. Shurter.
Purpose of letter Major use of letter 1) 2) 3) 4) 5) It enables business arrangement to be made without the need for the parties to meet. It enables both parties to have a permanent record of these arrangements. It conveys information /asks questions. To handle routine matters, To sell products and services. To establish credit and collect debts. To adjust complaints, claims and misunderstanding. To win and hold goodwill.

12 for better letter writings: (style and word choice the writing will clear and persuasive) a) b) c) d) e) f) g) h) i) j) k) l) Present your best self. (never write a letter your angry) Write in a clear, conversational style. Be concise. (point out) Be consistent. (uniformity) Use jargon sparingly (Language carefully). Avoid big words. Prefer the specific to the general. Break up your writing into short sections. Use visuals. Use the active voice. Organization. Length.
Parts of the 1) Heading Letterhead & Date 2) Inside Address. Courtesy title. Name. Executive or Professional Title.

Standard Letters

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3) 4) 5) 6) 7) Salutation. Body. Complimentary Close. Signature area. Reference section.

Sample formats: There are several different formats you can choose from, depending on your needs. Block Format: A formal letter with all elements flush left, it includes a heading, inside address, salutation, body, close, and signature. Spacing between the elements is shown in here.
XYZ Company, Trichy.

Jan 9 2010. To Mr. Rajan, PQR Company, Thanjavur.

Dear/Mr./Ms. Rajan, Re: Cancellation of rush order. Shortly after I transmitted the rush orders for three sets of Doe downhill skis and four sets of bindings, I received and accepted the necessary items. Please do not duplicate this shipment. Please cancel purchase order #1234-5. The original order follows, so that you may cancel it more easily. Purchase order 1234-5 (promotional) Doe Wedges downhill skis, two pairs, 185 cm Doe Wedges downhill skis, one pair, 175 cm Doe Foot Binders downhill ski bindings, four sets Again, please do not ship these items, as the necessary equipment has already arrived. No charge need be made to our account. I apologize for the confusion. Thank you. Yours sincerely, H. Jones, Manager Ref:

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Semi Block or Modified Block format: similar to block format, but with more indenting to make the copy easier to read. Paragraphs are indented five spaces at the beginning instead of flush left. The close and salutation are to the right of page instead of the left.

From XYZ Company, Trichy. Jan 9 2010.

To Mr. Rajan, PQR Company, Thanjavur.

Dear/Mr./Ms. Rajan, I am filing a claim on my auto insurance to cover the cost of repairing the damage that the recent storm caused to my sports car. The car was parked under a carport, where it was safe from the hail, but the wind brought the carport roof down, causing extensive damage to the top and hood of the car. I am enclosing three repair estimates. They range from a low of Rs. 2,746.00 to Rs.3,468.00. My policy, #55555, has a Rs. 400.00 deductible. Thank you for your assistance. I am eager to have repairs completed as soon as possible. Yours truly, H. Jones, Manager

BUSINESS ENQUIRES AND REPLIES: enquire about the product, other information. (Credit information) Acknowledging application for credit and requesting the customer to give credit references. Letters to the trade references suggested, asking for credit rating of the customers. Letters from the references giving the credit information. Letters to customers (giving or refusing credit)

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Example: 1 Mr. John Doe recently applied for credit with our firm and listed you as a credit reference. We would appreciate your completing the enclosed form so that we may evaluate your experience with him. Your responses will remain confidential. Thank you for your prompt reply. Example: 2 I appreciated the opportunity to get acquainted with you at the spring linguistics conference in Springfield. Thank you for sending me a copy of your recent paper. Recent financial problems in our state are resulting in the board of regents' elimination of programs they consider to be too costly. It appears that our department will be severely affected, so I am looking for another position in linguistic theory. I have a good publication record in phonology and can teach both graduate and undergraduate classes in phonology and general linguistics. During the past five years I have chaired seven doctoral and ten master's committees. I believe I can make a valuable contribution to any linguistics program. I am enclosing a copy of my resume for your information. If you become aware of any positions for which I may apply, I would sincerely appreciate a note, call, or e-mail message. REPLY LETTERS: A reply letter is usually a response to the communication that you have received from a person or business. When replying to a letter or inquiry from clients, associates, customers or colleagues, it is important that it is in a formal format. Written communication may very well be the first and possibly only correspondence between you and the original sender and this makes a good impression crucial. A reply letter should begin by making reference to the original letter received. It should utilize an opening line, such as "In reference to your letter of (date)" or "Thank you for your letter/email of (date)." It should then mention key points discussed in letter received. This helps to remind the recipient you understood his or her message and understand his or her position. Never use first names unless you are friends or colleagues and your first name was used in the original letter. Then address the question, inquiry or complaint that was in the received letter. If you are unable to answer the question, then direct the person to someone who does have the answers. Offer your assistance to get the situation resolved as quickly as possible. Acknowledging receipt of an enquiry/request - Thank you for your letter of regarding / concerning / in connection with - I refer to your enquiry about / relating to - I have received your letter of requesting information about

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Explaining action taken as a consequence of the enquiry I have (reviewed our available stock) We held a meeting on 21 January to discuss possible solutions. I have checked/looked into/investigated (the possible approaches)

OFFER LETTERS: Giving the customer a discount on a new or upgraded model in exchange for trade-in of the old model works not only for auto dealerships, but also for a wide variety of businesses. Its appeal is threefold. First, there is a cost savings. Second, the chance to get value out of old, obsolete equipment is appealing. Third, the idea of a trade-in communicates the message that the new product is so much better than the old, theres no sense hanging on to your old model. Structure: (1) Open by announcing the trade-in offer, (2) Introduce the product or service you are selling to the customer, stressing its benefits to the customer, (3) Identify the competing or outdated products that the offer replaces, (4) Instruct the customer on how to proceed with the order, (5) Explicitly state the conditions of the offer (e.g., credit amount, qualifying products, offer expiration date, shipping instructions, etc.), (6) If appropriate, offer added incentives for the customer (e.g., free shipping). Example: Dear Tracy Anders, Fuller is offering a 30% discount off the retail price of LinNet to all customers who wish to trade in their licenses of competing FullNET connectivity software products. This trade-in discount cannot exceed the original price of the product being traded in (as shown on the invoice). Products covered by this policy include: NetPrint 3.0, SoftNet, and ProNetNT. Other systems may be covered; ask your Fuller sales representative if you have another package that you think should qualify. To grant this discount, we must receive a copy of the original invoice for the product that youre trading in, along with your order for LinNet. Within 30 days after your Fuller purchase, we must receive: The complete trade-in product (with all media, manuals, and documentation) Any and all licensing information and material

Please send your trade-in package to: Address: ORDER: after the receipts of quotations in response to enquiries orders will be placed.
Order forms guarantee adequate information 1) Description items ordered.

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2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) The quantity desired. Stock or catalogue numbers. Price per unit. Total price. Method of payment. Delivery date and method of transport. F.O.B (Free on Board) destination. F.O.R (Free on rails) F.A.S (Free Alongside Ship) C.I.F (Cost, insurance, freight) Franco.

It may also contain additional information

Essential details

Full details and catalogue numbers. Forwarding information. Confirming terms of payment.

Example: 1 Thank you for your May 15 telephone order for 475 TV/VCR coaxial cables. Delivery of our catalog items generally takes less than a week. Larger orders such as yours may take two to three weeks. We are pleased to notify you, however, that your large order qualifies you for our new 20% bulk discount, applied to all orders over $200. (As you will see on the accompanying invoice, we have already deducted your discount from the total price of your order.) Beginning in July and August, Doe's will open thirty-seven new regional outlets or showrooms nationwide. We look forward to becoming your neighbor and invite you to visit the outlet or showroom opening soon in your area. After nineteen years in the business, our unmatched reputation for service seems to speak for itself. However, while many customers have heard about our excellent warranty, fewer know about our lifetime service contract on large electronic appliances. We invite you to glance at the enclosed flier for more details. Again, thank you for turning to Doe's for your electronic supplies. Example: 2 After a long day at the office, no one feels like spending a lot of time cooking, but you can't neglect your family's nutrition! Don't despair! We have a recipe collection featuring delicious low-fat dinners that includes techniques for cooking poultry, fish, beef, breads, vegetables and desserts in less than thirty minutes. This fantastic collection is now available to you. Enclosed you will find our "fast and light" cooking brochure and five free recipes. You will notice that each recipe card includes a beautiful color photo of the prepared dish. Each recipe is given in an easy step-by-step format to help you achieve flawless results every time. You will be

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amazed at how quickly and easily you can prepare a nutritious meal that your family will love. Just look through our brochure and decide which series of recipes suits your family's taste best. Then call our toll-free number to place your order. It's that simple. EXECUTION AND CANCELLATION: Letters of cancellation are generally classified as business correspondence. As such, we want to be very specific as to what we say in them. There should be no room for misunderstanding, and it is important to state our case concisely and clearly. Letters of cancellation are written for a variety of things, such as canceling a cable service, a magazine subscription, or an insurance policy. The case should be stated in as few words as possible, including the actions we expect to be taken because of the letter. Ask the recipient to confirm receipt of the letter at their earliest convenience. Example: 1 Im afraid I will not be able to make it to our meeting on Wednesday at 3:00 PM as I have previously arranged to meet with our customer, Mr. Smith, at that time. Since I would very much like to attend our meeting, please let me know whether rescheduling it is possible. I am available on Thursday and Friday, anytime after 1:00 PM. Im sorry for any inconvenience this may have caused. Example: 2 It has come to my attention that your company representatives have an appointment to meet with our engineers on Saturday, July 1. There must have been a misunderstanding as we have already contracted with another company to take care of safety issues. Our current contract runs for two more years, after which time we will be pleased to reopen discussions with your firm. I apologize for any inconvenience this may have caused you. Example: 3 Please cancel my order for a set of encyclopedias. Enclosed is a copy of the order dated March 13. The cost is too much for my family at this time, so I am exercising my right of cancellation within the three-day period as stated on the order form. I have stopped payment on my check for $300, which I gave to your salesman, John Doe. I am sorry for any inconvenience this cancellation may cause. Example: 4 Please cancel my order for blanket seat covers. I wanted to give them to my husband for a birthday present, but he has already purchased a set himself. My order number is 12345. Since I ordered the seat covers on approval, I understand that I will not be billed for them. Thank you for your patience. CLAIMS, COMPLAINTS AND ADJUSTMENTS Claims: is based on a right or support right.

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Complaints: a statement of dissatisfaction that may not be justified. Written claims and complaints should be clear, concise and reasonable. The writer should describe the difficulty or trouble and state the adjustment he is seeking. The statement should be exact and should not be sarcastic. Adjustments: The purpose of the favourable adjustment letter is to leave the reader with a positive attitude toward the firm and to build customer goodwill.

Examples: o Complaint re non delivery. o Complaint of delivery of wrong goods. o Complaint concerning the quality of the goods supplied. o Complaint about the damaged condition of the goods supplied. o Complaint regarding failure of machine supplied. o Complaint about the negligent execution of an order. Claims Example: 1 Last Saturday I visited your showroom in Springfield and ordered an oak desk and two matching three-drawer filing cabinets for my study. When I arrived home this evening, I found the furniture had been delivered in my absence, but the filing cabinets were the four-drawer style. Unfortunately, I can use only the three-drawer style because I lack room for anything higher. I will appreciate having these cabinets picked up and exchanged for the ones I ordered as soon as possible. Please call to arrange a time when I will be home. I trust this matter can be resolved very quickly, so I can get my files organized soon. Claims Example: 2 I have just received your letter informing me that my insurance policy will not cover my daughter's surgery because you consider the surgery to be "elective" and we did not obtain authorization in advance. It never entered my mind that anyone would consider surgery that would prevent her paralysis and eventual death by suffocation to be "elective." Surely someone made a mistake in writing us this letter, or in defining what is "elective." I trust you have copies of her medical records in your possession. If not, I will have the neurosurgeon send them to you. I request that you review her case to see that her condition clearly was "life-threatening" and therefore not "elective."

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She now has a chance to lead a relatively normal life, for which we are grateful. To say we have no claim to insurance coverage for her surgery is to add severe insult to injury. I am confident that you will agree once you have seen the documentation. I will await your response before taking other action. Complaint example: 1 Last Saturday I visited your showroom in Springfield and ordered an oak desk and two matching three-drawer filing cabinets for my study. When I arrived home this evening, I found the furniture had been delivered in my absence, but the filing cabinets were the four-drawer style. Unfortunately, I can use only the three-drawer style because I lack room for anything higher. I will appreciate having these cabinets picked up and exchanged for the ones I ordered as soon as possible. Please call to arrange a time when I will be home. I trust this matter can be resolved very quickly, so I can get my files organized soon. Complaint Example: 2 I have just received your letter informing me that my insurance policy will not cover my daughter's surgery because you consider the surgery to be "elective" and we did not obtain authorization in advance. It never entered my mind that anyone would consider surgery that would prevent her paralysis and eventual death by suffocation to be "elective." Surely someone made a mistake in writing us this letter, or in defining what is "elective." I trust you have copies of her medical records in your possession. If not, I will have the neurosurgeon send them to you. I request that you review her case to see that her condition clearly was "life-threatening" and therefore not "elective." She now has a chance to lead a relatively normal life, for which we are grateful. To say we have no claim to insurance coverage for her surgery is to add severe insult to injury. I am confident that you will agree once you have seen the documentation. I will await your response before taking other action. Adjustments example: We are very sorry that your toaster does not function as you expected. Before we ship any toaster, we double-check every function, so your problem may be one you can solve quite easily. When the bread does not go down, you can usually correct the problem by rotating the screw on the bottom of the toaster a turn or two to the right. If that adjustment does not solve the problem, simply return the toaster to our nearest outlet to receive a replacement or a refund. Your Doe toaster should give you many years of trouble-free service. COLLECTION LETTERS: Collection letter is to motivate the customer to pay and also keep

his goodwill toward the company. Most of the time main purpose is collection the money, keeping goodwill become secondary.

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Collection appeals: Collection letters should persuade the customer to pay by using either positive or negative appeals. The positive appeals of cooperation, fair play and pride must be used until it, appears that the customer does not recognize their value.
Collection Stages First Reminder. Follow up. Change of Tactics. The last resort.

Example: 1 We acknowledge receiving your check #123 for $100,000 as the final payment on account #1234. Thank you for remitting this overdue balance. Please take careful note of our continuing policy to charge a 15% penalty on overdue accounts. If you have any questions regarding your account, our conditions of credit, or any of the services we offer, please call us toll-free at the 800 number shown above. We look forward to serving you again in the future. Example: 2 We are disappointed you have not taken care of your account with our company. You now have two options: Forward your payment to our office by July 15, or become a party in a legal action. A court judgment may add court costs to your obligation. A judgment against you will also damage your credit record. SALES LETTER: It is creates goodwill of the company. Sell the image of the writer. It can be classified in to direct sales letter and indirect sales letter. AIDA Formula is Main on Sales letter. (Attention, Interest, Desire, Action)

The sales letters should gain attention, arouse and hold interest awaken a desire to own to lead to the action suggestion in the letter. 1) Direct Sales letter: have the specific objective of selling goods or services by mail. It should be persuasion. To seek to persuasion reader in terms of his own interests, stimulate his desire and induce him to buy the goods offered. The opening must be leading the reader to the next paragraph and not him dump the letter in the WPB. (Waste Paper Basket) Letter should be o o Complete facts. (product/services) Anticipating.

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o Answering. o Guarantees/ discounts/ bonuses. o Warning about limited stocks. It support by the brochures, pictures postage paid orders forms. The elements of a good sales Arouse and hold interest. letter Create a desire for the product/service. Guidelines Convince the reader about the products capacity to satisfy him. Induce him to buy or at least make an enquiry about the product/service. Differentiation. (Competitors) Themes. (point of view) Opening paragraph induce to write. Conclude with request for immediate action.

Example: 1 Eliminate the hassle of saving credit card receipts with a corporate card from Doe. With a Doe Credit Card, you receive monthly statements of all your purchases, plus a year-end summary. Convenience. Tax savings. Easy records. Doe Credit Card has it all--plus a super low introductory interest rate. If saving your business receipts drives you crazy, Doe Credit Card is for you. Try the card and see why thousands of customers have thrown away their paper receipts in favor of this tracking service. Shouldn't you, too? Just fill out the enclosed application or call us at: 555-5555. Example: 2 Have you checked out college costs for your children lately? We have an Executive Desk Set we'd like to give you FREE, just for finding out how Doe Life Insurance can help pay for your children's higher education. Indicators confirm that college costs will continue to rise much faster than inflation. Imagine how expensive college will be when your children are ready to go. Many people, even families with two incomes, find it difficult to meet the costs without planning. It is possible to give your children the college education you want for them without spending a fortune or scrimping. You can help your son or daughter realize their dreams with a life insurance policy that builds up tax-deferred cash values that you can access as loans to help:

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* Furnish funds for a child's education * Provide you with greater peace of mind So stop wondering! And stop worrying! Doe Life Insurance has a variety of competitive life insurance products. Call us or return the coupon below. Find out how you can put financial strength of Doe Life Insurance to work for you...to protect the dreams you have for your children. P.S. If you have any questions, please feel free to contact us at 555-5555. 2) Indirect Sales Letter: aim to building goodwill. (Follow ups) it strengthens friendships and business relationships. Example: 1 Come and celebrate with us on the 25th anniversary of our opening! Doe Stationers have served the Springfield community since June, 1972, when John Doe first sold pens and envelopes out of the kiosk on Main Street. Since that time we have moved to a beautiful retail space in the Springfield Plaza building, and our business has become the most exclusive stationer's in the state. The month of June will be a month of celebration at Doe's. We are celebrating with sales on all fine pens and papers, and there will be a drawing for a special edition gold Doe Signature fountain pen valued at $685.00. We couldn't have made it 25 years without our loyal clientele, and we hope to serve you even better during the next 25! CIRCULAR LETTERS The information is being conveyed to a large number of persons. It is usual to send uniform letters, printed or cyclostyled to each one of them. A change in the name of the organization, introduction of a new product, conversion of partnership into a limited company, etc., opening of a new branch are all occasions which give rise to announcement to be made in the form of circular letters. Types examples: o o o Letter conveying the admission of a partner. Letter conveying conversation of partnership into a company. Letter announcing retirement of a partner.

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o o o o o o o A letter announcing obtaining of an agency. Opening of new departments, premises or branches. Letter announcing expansion of existing premises. Letter announcing moving to larger premises. Letter announcing the opening of a new branch. Letter opening a new retail grocery store. Letter announcing the publications of new journal.

Example: You are invited to help us celebrate 20 years of automotive service to the residents of Monroe County. We are happy to be the number one dealer in both sales and service for the State of Kansas. It's something we have worked hard to accomplish. Please drop in at 1600 Main Street during the month of June to enjoy summer refreshments and see the latest models. While you are there, remember to register for our big July giveaway. AGENCY CORRESPONDENCE: Agency may refer to: Agency (country subdivision) Agency (law), refers to a person who acts on behalf of another person. Agency (sociology), the ability of social actors to make independent choices. Advertising agency, a service business dedicated to creating, planning and handling advertising for its clients. Employment agency, a business that serves as a representative, acting on behalf of another. Government agency, a department of a local or national government responsible for the oversight and administration of a specific function. International agency, an inter-governmental body. News agency. Moral agency, capacity for making moral judgments. Structure and agency, ability of an actor to organize future situations and resource distribution.

The person appointing the agent is called the principal. The contract of agency must specify: 1. 2. 3. 4. 5. The powers of the agent. The area of his operations as agent. The duration of the agency. The remuneration to the agents for his services usually in the form of commission. Any special term of the appointment of the agent.

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Kinds of agents: Commission agents: an agent appointed to buy or sell on behalf of a principal for a commission proportionate to the value of goods. Del credere agent: an agent who guarantees the sale proceeds to the principal, when the sales include credit sales. Is calling a de credere agent. This commission agent or consignee assumes the risk of bad debts for which he is paid an extra commission called del credere commission. Factor: here is a merecantile agent who assumes title to the goods. He need not disclose the name of the principal to third parties. He can sell and buy in his own name. He has a right of lion upon the goods for the commission due to him. Broker: A broker is a mercantile agent who brings about a contract between the prospective buyer and the prospective seller. Once the contract is entered into between the seller and buyer, the brokers services come to an end. Auctioneer: An agent who sells goods of another for commission by calling for bids in auctions is a auctioneer. Clearing and /or forwarding agents: a clearing agent under takes to clear the goods imported into a country form the port for the importer. He takes care of all the formalities to be completed at the port. The importer will hand over the import documents such bill of leading etc, to the clearing agent. The clearing agent will pay the import duty, take delivery of the imported goods and will transport them to the importers destination. For all these services, he will charge a commission. A forwarding agent, on the other hand, completes the export formalities for an exporter. Underwriters: an underwriter is special agents who guarantee subscription for a public issue of shares or debentures by companies. They will sell prospectuses of companies, and obtain subscriptions from the public for the company. If the entire issue is not taken up by the public they will themselves subscribe for the unsubscribed portion of the public issue. Warehouse keepers: the owner of a warehouse may act a s an agent of ane who wants to keep his goods in a warehouse.

Example: Application for Agency: We came across your advertisement in The Hindu dated 25 th June 2011 wanting agents in the district of Thanjavur. We are an established concern in Thanjavur, supplying hardware products for house construction, mills industries and agriculture. We have been dealing in these lines for more than 10 years. We are interested in taking up agency for your motors of various H.P.S meant for various purposes. Our financial position is very sound which can be verified by contacting our bankers: a) Indian Over-Seas bank. Old bus stand. And.

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b) United Commercial Bank old bus stand. We have an excellent mechanic who is well experienced in taking care of motors and pump sets. We are prepared to send him to your factory for the two weeks training which your require. We are prepared to send you the initial deposit your require, on hearing from you a meeting can be arranged to decide and sign the necessary papers. BANK CORRESPONDENCE: Definition: Banking has been under the Banking Regulation Act 1949 as:- Accepting for the purpose of banking or investment of deposits of money from the public and withdraw able by cheque, draft or otherwise. Meaning: Bank is a financial institution which is run by the Government as well as private sector to assist the public in general to lend money to persons for doing business in order to better their living standards or for development purposes. It provides interest on funds deposited with it by the depositors and charges interest from the persons who borrow money from the Bank. Apart from lending and depositing money, bank renders a number of other services, which are known as subsidiary or ancillary services, such as working as remittance of funds from one place to another, providing safe deposit lockers, working as an agent for the customer etc. Functions of a Bank: There are some important functions of a Bank which they perform are: 1. To accept deposit of money from the public. 2. To grant loans and advances to traders, industrialists, professionals and other sections of society. 3. Remittance of funds from one place to another. 4. To collect and discount bills of exchange and other negotiable instruments. 5. Acting as an agent on behalf of customers by honoring their standing instructions etc. 6. To provide safe deposit lockers to customers for safety of their valuables. 7. To supply credit, financial or status information of customers. 8. To issue letter of credit, guarantee, travelers cheque, and gift vouchers etc. 9. To act as an advisor and guide to customers. Types of Banking Correspondence: There can be classifications of all banking letters into four groups and they are as follows: 1. There are banking correspondence that relates to opening, closing and transfer of accounts of customers.

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2. There are banking correspondence that relates to operations in accounts of customers deposit, collection and payment of cheques, drafts, bills etc. 3. There are banking correspondence that relates to Loans and Advances including overdrafts, cash-credits, demand and term loans, discounting of bills, letters of credit, guarantees etc. 4. There are banking correspondence that relates to subsidiary or ancillary services like remittances, safe deposit lockers, agency services, supplying credit or status information and travelers cheques etc. They can be discussed in detail as under: Customers Account: The relationship between customer and banker develops when a customer opens his account with the bank. All other services offered by banks are based on it. The customer has to fill in the Account Opening Form for opening an account in the bank by supplying specimen signatures and giving introduction. The bank account may be introduced by anyone who is either already a customer of the bank or well known to the bank. Types of Bank Account: - The customers accounts can be current accounts, saving bank accounts, fixed/term deposit accounts or other deposit accounts. There are different set of rules for different type of accounts in individual bank. Current account works best for traders and other business people so that they can freely operate upon the accounts by numerous transactions in a single day. In current account, no interest is paid on a current account of a customer but some charges are levied by bank in proportion to the pages of ledger filed in. Saving Bank Account works best for service class peoples as the number of transactions are few and irregular. The bank offers some interest to the saving bank account holders on the credit balances maintained with the bank between the close of 12th day and the last day of each calendar month. The other deposit accounts are those where the transactions are less and more interest is allowed by the bank. There is also facility of transfer of accounts from one branch to branch or place in the bank. The bank account can also be closed anytime depending upon the rules of the concerned bank.

GENERAL TRADERS 15, Kamla Market Delhi-110006

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Ref.No. GTL/Bank/98/2314 10th May 1998 The Manager Bank of India Chandni Chowk Delhi Dear Sir, We wish to open a current account in our companys name with your esteemed branch. We request you to; please let us know as to what formalities are to be fulfilled for this purpose. We would like to bring it to your kind notice that our company is a sole proprietor concern. Presently we are not dealing with any other nationalized bank anywhere in Delhi. Please give us necessary account opening forms and also let us know the other formalities to be fulfilled for opening an account with you. We anticipate an early compliance in this matter. Yours Faithfully, For GENERAL TRADERS Sole Proprietor Specimen of Banks Reply BANK OF INDIA Chandni Chowk Branch, Delhi B.O. Chandni Chowk Delhi-110006 Ref. No. BOI/H/Gen/8965 15th May 1998 Dear Sir, This letter is in reference to your letter No. Ref. No. GTL/Bank/98/2314 dated 10th May 1998. We are enclosing herewith the required Account Opening Form (A.O.F) for opening a current account for sole proprietor firms or companies. It will be advisable that you visit us during business hours along with A.O.F with the rubber stamp of your firm to be affixed on it. You are requested to sign in the form in our presence and the account has to be introduced by a person having an account with us.

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Yours Faithfully,

Branch Manager Enc: as above Specimen of Letter for Customers request for Pass Book or Statement of Account KHANNA BROTHERS 25, Kirti Nagar, New Delhi -110015 Ref.No. KBR/Accts/99/5612 20th April 1999 The Manager, Krishna International Bank, South Extension Part-2 New Delhi Dear Sir, Re: Our current A/c No. 16723 with you. We want to bring it to your kind notice that we havent received the statement of account for the above mentioned current account. We have opened current account with your bank for more than three months and have a heavy turnover in the accounts. It would be difficult for us to tally our bank accounts in the absence of up to date bank entries so we request you to please send us the statement of our account with your bank with latest up to date entries. We would also like to request to you for sending us statement of our accounts regularly every month in the future. Yours Faithfully, For KHANNA BROTHERS Proprietor Banks Reply KRISHNA INTERNATIONAL BANK South Extension Part-2, New Delhi

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B.O South Extension Part-2 New Delhi No. CA/Misc/99/8123 25th April 1999 M/s Khanna Brothers 25, Kirti Nagar New Delhi -110015 Dear Sirs, Ref. No. KBR/Accts/99/5612 dated 20th April 1999 Reg. Current A/c No. 16723 With reference to the above mentioned details, we are enclosing herewith upto date statement of your current account. We have also taken notice of your request of sending statement regularly month-wise in the future. Please acknowledge receipt. Yours Faithfully, Authorized Official Enc: as above Operations on Customers Accounts: - After the opening of bank account, the customer operates it by way of depositing cash, cheques, bills etc in the account and withdrawing amount by issuing and drawing cheques or otherwise. There are many types of correspondence that take place during this course of operation on accounts between the bank and customer. Specimen of letter for customer notifying delay in collection of cheques, drafts, bills etc deposited in account MAX INDIA LIMITED 12 floor Devika Towers Nehru Place New Delhi Ref.: MIL/Accts/Bank/1002 24th March 2007 Dear Sir,

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Our Current Account No. 456 with you This is to inform you that we deposited two cheques for Rs. 5000/- and Rs. 7000/ respectively on 10th March 2007, for credit to our above said account. After checking our Account Statement of 24th March 2007, we find that these amounts have not be credited to our account. We would like to know the reason for delay as they were local cheques and the normal course of realization is three to five days for local cheques. It is now past 14 days that the cheques have not been realized so far. We, therefore, request you to kindly arrange for the early realization without any further delayo as we need the abovesaid amount for the clearance of our pending bills of the company. We hope you will do the needful as early as possible. Yours faithfully, For MAX INDIA LTD. Accounts Manager Stop Payment Instructions The instructions given by the customer to the bank regarding the stop payment of a particular cheque giving full details of the cheque and to exercise proper precaution in the matter. While writing the letter to the bank regarding the stop payment of the cheque the following points should be kept in mind they are: 1) Explain the reason for the stop payment, whether lost or misplaced or the payment to be withheld. 2) The exact particulars of the cheque must be given such as cheque number, date, amount and name of payee, etc. 3) Give a firm request to stop its payment and for the proper precautions be taken to deal with this matter. 4) Mention the date and time of writing the letter to the bank on the letter. 5) Request the bank to acknowledge the receipt of your letter for future reference. Customers request for Stop Payment of a Cheque XYZ LTD. 5, Ansari Road Delhi

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Ref.:XYZ/bank/245 20th March 2007 The Manager, Bank of India, Tilak Nagar Branch, New Delhi. Dear Sir, Stop Payment-Cheque No. 450623 dated 21st March 2007 of Rs. 5000/We request you to kindly stop the payment of our cheque no. 450623 dated 21st March 2007 for Rs. 5000/- favouring M/s ABC Consulting Services issued in our current account No. 456 with you. Please acknowledge receipt. Yours faithfully, For XYZ Ltd. Accounts Assistant STANDING INSTRUCTIONS: When any customer requests his bank in writing for making certain payments on regular basis for insurance premium, rent or for any other purpose then they are called STANDING INSTRUCTIONS. In banks there are generally printed forms for carrying out standing instructions. There are some important pre-requisites for standing instructions and they are as follows: 1) The customer should have account in the bank current account or saving account in giving standard instructions. 2) There has to be sufficient credit balance so as to enable Bank to debit the amount and remit. 3) The customer should specify the amount to be paid by the bank so that it could be easily remitted every month. It is not possible for the bank to remit the different amounts every month. 4) The bank should be given an authority to debit the customers account. 5) The payment to be remitted or effected by the bank should be at regular intervals weekly, fortnightly, monthly or quarterly.

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Advantages of Standing Instructions They are very useful in those cases where regular payments of the same amount are to be made through the bank. It saves customers time and botheration of visiting bank and giving letters every time. They ensures timely regular payment of amount and avoids any delay because the bank effects the payment on due date every time automatically. Disadvantages of Standing Instructions They are of no use where sufficient or adequate credit balance cannot be arranged or maintained by the customer because in such case the standing instructions cannot be implied by the bank. There are times when payments are delayed due to rush of work with the bank or due to their staffs negligence. It may results in undesired complications and problems to the customer.

Essentials for drafting Standard Instructions: i. The customer should request the bank for making payments on his behalf. ii. The customer should give complete details about the payments like policy number, period date of payment, specific amount, name of payee etc. iii. The customer should assure the bank that he will maintain sufficient credit balance in his saving or current account on or before the due date. iv. The customer should give his account number and put his signatures as on banks record so that the bank is authorized to debit account and effect remittance. Customer giving Standing Instructions for Payment of Shop Rent and School Fees Dated The Branch Manager, Union Bank of India, Nehru Place, New Delhi Dear Sir, Re: Standing Instructions Kindly arrange to pay the following amounts to debit of my saving bank account No. 23123 with your branch: Name of Payee Amount Date On A/c of 1. Mr. Ravi Kumar Rs.5000/- On or before 10th of Rent for shop every month. 3, Karol Bagh, N.Delhi

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2. Principal S.D School Rs. 1200/- On or before 15th of School Fees of Master Ram Nagar, N.Delhi every month. Vijay of Class IV

I assure you to maintain sufficient credit balance in my above mentioned account on or before the dates of payment. Please make the payments regularly through my account. If there are any extra bank charges then they can also be debited from account. Please acknowledge receipt. Yours Faithfully, (M.L.MUNSHI) IMPORT & EXPORT CORRESPONDENCE: The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import whereas the overseas based seller is referred to as an "exporter". Thus an import is any good (e.g. a commodity) or service brought in from one country to another country in a legitimate fashion, typically for use in trade. It is a good that is brought in from another country for sale.[2] Import goods or services are provided to domestic consumers by foreign producers. An import in the receiving country is an export to the sending country The term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer". In International Trade, "exports" refers to selling goods and services produced in home country to other markets. Any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. Export goods or services are provided to foreign consumers by domestic producers. Procedure of Export: a) b) c) d) e) f) g) h) i) Receipt of Enquiries. Receipt o indent or order. Enquiry about credit. Packing and forwarding. Obtaining shipping order. Compliance with foreign exchange regulations. Customs Formalities. Preparation of invoice. Docks and mates receipts.

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j) k) l) m) Import Procedure Bill of lading and freight note. Effective marine insurance. Obtaining certificate of origin. Securing payment for the goods. 1) Placing the Indent or Order. 2) Obtaining the letter of credit. 3) Obtaining the required foreign exchange. 4) Advice note and documentary bill. 5) Customs and clearing formalities.

Example:1 The purpose of this letter is to solicit quotes, technical specifications, and other relevant information from your company with respect to the following products: 1) Lawn mowers, 2) Hedge trimmers, 3) Rakes, 4) Leaf blowers, 5) Snow blowers, 6) Shovels, and 7) Christmas lights. If there are any special offers or opportunities to obtain the above items at reduced prices, please be sure to include this information with your response. Please mail/fax/e-mail [choose one] your information as soon as possible [or by a certain date]. Should you have any questions or concerns with this letter, please contact me at +91-04312652604 Thank you for your assistance.

Yours truly, Application Letter: An application for a job is, in every sense a sales letter perhaps the most important to be mailed by the writer. The applicant is trying to sell his own skill and service to prospective employer. Gain Attention. Create a desire for the product. (The application) Ask for some kind of action for the buyer. (the prospective employer)

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Should be o Briefly consistent with adequate factual information. o Clarity of thought and expression. o Frankness and politeness. o Correct grammatical construction, correct spelling and punctuation and legible hand writing. Example: I am very interested in the administrative position that is presently available in your company. After learning about the duties associated with this position, I am confident that I can meet your needs. My skills in this area are strong, as are my educational background and experience. Allow me to discuss this with you, and you will discover a dedicated and competent professional who will work hard to benefit your company. Please review the enclose resume, as it outlines my qualifications in further detail. By examining it you will find that my educational achievements and past employment accomplishments are more than adequate. You will also see that I can bring an impressive range of skills to this position. I would appreciate the opportunity to provide you with additional information or answer any questions you may have. Perhaps we can set a time to meet in person to discuss the possibilities of allowing me to fill this position. Thank you in advance; I look forward to hearing from you soon. MEMO: A memorandum or memo is a document or other communication that helps the memory by recording events or observations on a topic, such as may be used in a business office. The plural form is either memoranda or memorandums. A memorandum may have any format, or it may have a format specific to an office or institution. In law specifically, a memorandum is a record of the terms of a transaction or contract, such as a policy memo, memorandum of understanding, memorandum of agreement, or memorandum of association. Alternative formats include memos, briefing notes, reports, letters or binders. They could be one page long or many. If the user is a cabinet minister or a senior executive, the format might be rigidly defined and limited to one or two pages. If the user is a colleague, the format is usually much more flexible. At its most basic level, a memorandum can be a handwritten note to one's supervisor. Sample Memo Format: Should not be o All forms of flattery. o All expressions of servility. o Glowing references which have no particulars bearing on the application. o Stereotyped personal histories which are not clearly related to the advertised job specification.

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TO: FROM: DATE: SUBJECT: First Sentence: Reason for the memo Second Sentence - Main Body: Any Instructions or information Closing Sentence What is required of the reader e.g. Confirmation, answers or feedback

Sample Memo - Format Hints and Tips on How to write a Memo Writing a memo is a relatively simple and informal task. Some things to and tips to consider when writing and considering the format of a Memo: How much information do you need to convey? Who do you need to communicate with? The content of a memo includes information such as: o Times, dates and places to meet o Reminders. o New basic information. o Requests for confirmation, information or feedback. Dont use a memorandum format for lots of information. Use this format to communicate with your colleagues or co-workers. You have now learnt how to write a business memorandum.

REPORT WRITING: (Means Carry back) A report is a statement which describes what has happened or a state of affairs. A document in which a given problem is to examined for the purpose of conveying information, reporting findings, putting forward ideas and sometimes, making recommendations. The british association for commercial and Industrial education. A formal statement of the results of an investigation, or of any matter on which definite information is required, made by some person or body instructed or required to do so.

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Classification in several ways

On the basis of functions

a) b) c) 1. 2. 3. 4.

Major types of reports

Formal and informal. Internal and external. Narrative and problem solving. Etc., Employee reports. Operational reports. Management reports. Customer and public reports. a) Routine report or progress report. b) Laboratory report. c) Inspection report. d) Inventory report. e) Research report. f) Short business report. g) Long business report. h) Periodic report. i) Accident report. j) Annual report. k) Technical report. l) Feasibility report. And etc.,

Good report: It should be one, which effectively conveys what the outcome of the project is or what the writer wants to say. Report present findings and make recommendations rather than a critique of a subject, there is three types of report extended formal report, short formal report and informal report. Essential of good report STRUCTURE OF REPORT In business, the information provided in reports needs to be easy to find, and written in such a way that the client can understand it. This is one reason why reports are divided into sections Clear. Cogent. Reader oriented. Accurate. Supported by figures and document. Report should be prepared by expert in the field.

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clearly labelled with headings and sub-headings. Technical information which would clutter the body of the report is placed in the appendix. The structure of a report and the purpose and contents of each section is shown below. Title Page Report title. Your name. Submission date. Overview of subject matter. Methods of analysis. Findings. Recommendations. List of numbered sections in report and their page numbers. Terms of reference. Outline of reports structure. Headings and sub-headings which reflect the contents of each section. Includes information on method of data collection (if applicable), the findings of the report and discussion of findings in light of theory. States the major inferences that can be drawn from the discussion makes recommendations. List of reference material consulted during research for report. Information that supports your analysis but is not essential to its explanation.

Executive Summary

Table Of Contents Introduction Body

Conclusion Reference List Appendix

PRESS REPORT A press release, news release, media release, press statement or video release is a written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy. Typically, they are mailed, faxed, or e-mailed to assignment editors at newspapers, magazines, radio stations, television stations, and/or television networks. Commercial press release distribution services are also used. The use of press releases is common in the field of public relations (PR). Typically, the aim is to attract favorable media attention to the PR professional's client and/or provide publicity for products or events marketed by those clients. A press release provides reporters with an information subsidy containing the basics needed to develop a news story. Press releases can announce a range of news items, such as scheduled events, personal promotions, awards, new products and services, sales and other financial data, accomplishments, etc. They are often used in generating a feature story or are sent for the purpose of announcing news conferences, upcoming events or a change in corporation.

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Some of these common structural elements include: Headline used to grab the attention of journalists and briefly summarize the news. Dateline contains the release date and usually the originating city of the press release. If the date listed is after the date that the information was actually sent to the media, then the sender is requesting a news embargo, which journalists are under no obligation to honor. Introduction first paragraph in a press release, that generally gives basic answers to the questions of who, what, when, where and why. Body further explanation, statistics, background, or other details relevant to the news. Boilerplate generally a short "about" section, providing independent background on the issuing company, organization, or individual. Close in North America, traditionally the symbol "-30-" appears after the boilerplate or body and before the media contact information, indicating to media that the release has ended. A more modern equivalent has been the "###" symbol. In other countries, other means of indicating the end of the release may be used, such as the text "ends". Media contact information name, phone number, email address, mailing address, or other contact information for the PR or other media relations contact person. FOR IMMEDIATE RELEASE: Competition is Healthy Says Lemonade Stand Queen Hamilton, New Zealand - November 12, 2004 - Increased competition in the local lemonade stand market should be welcomed, according to the operator of popular lemonade stand "Shelly's Pure Lemonade". 12-year-old Shelly Smith has been selling her home-made brand of lemonade from the footpath in front of her parents' North Street home for 18 months and has seen the highs and lows of the trade. "Stands come and go," says Ms Smith, "but when there are more stands around the vendors are more serious. They try harder and make a better product. That gives our customers confidence and sales go up." In recent months the number of lemonade stands in North Street has risen from three to five. Experts believe this trend will continue, with the possibility of two or even three new stands before the end of summer. Ms Smith feels that a stable supply of lemonade will also benefit the streets' economy. "People know that if they are thirsty, North Street is the place to come. With plenty of lemonade stands on this street it doesn't matter if some of the vendors take a day off. The customer is never disappointed so they always come back." Shelly Smith is a sole trader of lemonade and occasional cookies. Her stand at 223 North Street

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is usually open weekdays after school and weekends, except when she is playing with her friends or watching a movie. Contact: Shelly Smith my@email.co.nz 233 North Street, Hamilton, New Zealand Ph: +64-877-9233 MARKET REPORT Market report are the reports of prices, changes and trends in prices of securities traded in securities market or of commodities traded in a commodities market. They include reports of traded in international currencies known as foreign exchange. Thus reports of following markets will include in this category: Stock market reports. Commodities market reports. Foreign exchange market report.

Format of Market Report Title Page: The title page should include the title of the report along with the name(s) of the client or organization for whom the report is written. Also included on the title page should be the name(s) of the author(s) of the report along with all pertinent information about them. Table of Contents: The table of contents lists the information contained in the report in the order in which it will be found. All major topics of interest should be listed. Executive Summary: The executive summary should be a one to two page overview of the information contained in the research report. It should give the reader an easy reference, in very brief form, to the important information contained in the report and explained in more detail in the body of the report. People attending a presentation of research or reading the report will use this section as a reference during presentations and as a synopsis of the research done. Introduction: The introduction should contain a brief overview of the problem being addressed and the background information needed for the reader to understand the work being done and the reasoning behind it. After reading the introduction, the reader should know exactly what the report is about, why the research was conducted, and how this research adds to the knowledge that the reader may have about the topic. Secondary Research: This section will contain all of the information that was collected through review of existing information. The importance of the secondary information as it pertains to the problem being researched must be made clear to the reader. Conclusions should

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be drawn in a logical fashion and insight into how these conclusions will be used throughout the rest of the research agenda should be provided. Qualitative Research (if used): This section should contain all information regarding any interviews or focus groups that were conducted as part of the research project. This section should begin with an explanation of why this research is needed or beneficial. Other information provided should include: An overview of the issues that were included in this research Why these issues were salient How the discussion guide was developed A description (not identification) of the participants Discussion of the information collected (using quotes to highlight important points) Conclusions based on the collected information Clear explanation of how the conclusions are based on the research done How these conclusions will contribute to the rest of the research project Experimentation (if used): There are many things that must be considered on order for an experiment to be a useful part of any research agenda. Once again, the discussion should begin with why this research is deemed to be important to the overall research agenda being followed. The following topics must be included if an experiment was used: Identification and description of the variables included in the experiment Clear statement of the hypothesized relationships between or among the variables Explanation of how the variables were measured Discussion of reliability and validity of the measurements Clear explanation of the treatment being used Conditions under which the experiment was conducted Description (not identification) of the subjects Description of data collection Analysis of data, including details of procedures used and statistical significance Conclusions clearly based on data analysis How these conclusions will contribute to the rest of the research project

Observation (if used): If observation was a part of the research project, you will need to explain several things to the reader or attendee at your presentation starting with why this method is appropriate for your research goals. In addition, the following topics should all be part of the final report: Explanation of why observation was appropriate Location and conditions under which observation was conducted Description of the population observed The recording methods used Methods used to interpret observed behaviors Conclusions drawn from observation Explanation of bases for those conclusions How these conclusions will contribute to the rest of the research project

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Survey Research: This is the section that should be pulling together all of the other issues that were identified in the research steps that were conducted previously. The connections to the issues and constructs identified earlier should be made again here so that they reader can easily see the foundations that are being used. Many issues will have to be addressed in this section regarding how the survey was developed and how it was administered. Topics discussed in this section should include: Identification of all issues included on the survey Explanation of the importance of the selected issues to project Development of the survey questions and wording Sources of survey questions (existing scales or newly created) Description of population of interest Explanation of target population appropriateness Determination of sample size needed Sampling procedures (random or convenience) Determination of the sample population Method of survey distribution

Data Analysis: In this section, the reader should find a brief overview of the methods that were utilized in the research, the reasons that those methods were appropriate for the research problem, an explanation of how the outcomes for those methods can be understood and interpreted. It is important to remember that the people reading your report or listening to your presentation may not be familiar with the analysis methods being used. You must present the methods in such a way that anyone interested in your research will be able to understand what was done and why it was done. This section should include the following: Overview of analysis methods used Justification for methods chosen Outcomes of analysis

Significance of results (statistical and otherwise) Findings: The findings are the actual results of your research. Your findings should consist of a detailed presentation of your interpretation of the statistics found relating to the study itself and analysis of the resulting data collection. The judicious use of figures, tables and graphs is encouraged when it is helpful to allow the reader to more easily understand the work being presented. The findings section should include the following: Findings based only on results of the research not speculation In-depth explanation of all major findings Clear presentation of support for the findings

Limitations: Recognize that even the best marketing research work is not perfect and open to questioning. In this section, briefly discuss the factors that may have influenced your findings but were outside of your control. Some of the limitations may be time constraints, budget constraints, market changes, certain procedural errors, and other events. Admit that your research is not perfect but discuss the degree of accuracy with which your results can be

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accepted. In this section, suggestions can be offered to correct these limitations in future research. Conclusions and Recommendations: Conclusions are broad generalizations that focus on addressing the research questions for which the project was conducted. Recommendations are your choices for strategies or tactics based on the conclusions that you have drawn. Quite often authors are tempted to speculate on outcomes that cannot be supported by the research findings. Do not draw any conclusions or make any recommendations that your research cannot clearly support. References: This section should be a listing of all existing information sources used in the research project. It is important to allow the reader to see all of the sources used and enable the reader to further explore those sources to verify the information presented. Appendices: This section should include all supporting information from the research project that was not included in the body of the report. You should include surveys, complex statistical calculations, certain detailed tables and other such information in an appendix. The information presented in this section is important to support the work presented in the body of the report but would make it more difficult to read and understand if presented within the body of the report. BUSINESS REPORT The purpose of a business report is to communicate information to assist in the business decision making process. Some reports might propose solutions for business problems or might present relevant information to assist in the problem solving process. A business plan is a kind of report which serves to communicate the business model, business management model and the commercial objectives of a business. In general when writing a business report the following steps have to be followed a. b. c. d. e. Preparing to write the business report. Determining the scope of the report. Understanding the target audience. Research to collect supporting information. Formatting and organizing the report.

Importance of Business Report Format A business report is not an example of creative writing which a reader should go through word by word. Business reports are mainly about statistics and specific information. Moreover, people who read such reports are busy personnel of high rank. They do not have time to go through each and every word. They look for particular information and if an organization follows a specific business report format, such personnel know exactly which part of the report to look, for

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specific information. This saves them a lot of time. Secondly, following a standard business format also allows one to organize his report effectively and logically. This is specially useful in case, the report has a lot of data. Also, one won't forget to cover information on particular area, if one refers to a sample business report. Hence, knowing how to write a business report is very important in the business world. INTERNET The Internet is a global system of interconnected computer networks that use the standard Internet Protocol Suite (TCP/IP) to serve billions of users worldwide. It is a network of networks that consists of millions of private, public, academic, business, and government networks, of local to global scope, that are linked by a broad array of electronic, wireless and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents of the World Wide Web (WWW) and the infrastructure to support electronic mail. Most traditional communications media including telephone, music, film, and television are reshaped or redefined by the Internet, giving birth to new services such as Voice over Internet Protocol (VoIP) and IPTV. Newspaper, book and other print publishing are adapting to Web site technology, or are reshaped into blogging and web feeds. The Internet has enabled or accelerated new forms of human interactions through instant messaging, Internet forums, and social networking. Online shopping has boomed both for major retail outlets and small artisans and traders. Business-to-business and financial services on the Internet affect supply chains across entire industries. The origins of the Internet reach back to research of the 1960s, commissioned by the United States government in collaboration with private commercial interests to build robust, faulttolerant, and distributed computer networks. The funding of a new U.S. backbone by the National Science Foundation in the 1980s, as well as private funding for other commercial backbones, led to worldwide participation in the development of new networking technologies, and the merger of many networks. The commercialization of what was by the 1990s an international network resulted in its popularization and incorporation into virtually every aspect of modern human life. As of 2009, an estimated quarter of Earth's population used the services of the Internet. The Internet has no centralized governance in either technological implementation or policies for access and usage; each constituent network sets its own standards. Only the overreaching definitions of the two principal name spaces in the Internet, the Internet Protocol address space and the Domain Name System, are directed by a maintainer organization, the Internet Corporation for Assigned Names and Numbers (ICANN). The technical underpinning and standardization of the core protocols (IPv4 and IPv6) is an activity of the Internet Engineering Task Force (IETF), a non-profit organization of loosely affiliated international participants that anyone may associate with by contributing technical expertise.

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EMAIL Electronic mail, commonly called email or e-mail, is a method of exchanging digital messages from an author to one or more recipients. Modern email operates across the Internet or other computer networks. Some early email systems required that the author and the recipient both be online at the same time, in common with instant messaging. Today's email systems are based on a store-and-forward model. Email servers accept, forward, deliver and store messages. Neither the users nor their computers are required to be online simultaneously; they need connect only briefly, typically to an email server, for as long as it takes to send or receive messages. An email message consists of three components, the message envelope, the message header, and the message body. The message header contains control information, including, minimally, an originator's email address and one or more recipient addresses. Usually descriptive information is also added, such as a subject header field and a message submission date/time stamp. VIDEO CONFERENCING: A videoconference or video conference (also known as a video teleconference) is a set of interactive telecommunication technologies which allow two or more locations to interact via two-way video and audio transmissions simultaneously. It has also been called 'visual collaboration' and is a type of groupware. Videoconferencing differs from videophone calls in that it's designed to serve a conference rather than individuals. It is an intermediate form of video telephony, first deployed commercially by AT&T during the early 1970s using their Picture phone technology. Problems Eye Contact Appearance Consciousness Signal latency: CREATING WEB PAGE: A web page or webpage is a document or information resource that is suitable for the World Wide Web and can be accessed through a web browser and displayed on a monitor or mobile device. This information is usually in HTML or XHTML format, and may provide navigation to other web pages via hypertext links. Web pages frequently subsume other resources such as style sheets, scripts and images into their final presentation.

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Web pages may be retrieved from a local computer or from a remote web server. The web server may restrict access only to a private network, e.g. a corporate intranet, or it may publish pages on the World Wide Web. Web pages are requested and served from web servers using Hypertext Transfer Protocol (HTTP). Web pages may consist of files of static text and other content stored within the web server's file system (static web pages), or may be constructed by server-side software when they are requested (dynamic web pages). Client-side scripting can make web pages more responsive to user input once on the client browser FAX: A fax (short for facsimile) is a document sent over a telephone line. Although businesses usually maintain some kind of fax capability, the technology has faced increasing competition from Internet-based alternatives. However, fax machines still retain some advantages, particularly in the transmission of sensitive material which, if sent over the Internet unencrypted, may be vulnerable to interception. In some countries, because electronic signatures on contracts are not recognized by law while faxed contracts with copies of signatures are, fax machines enjoy continuing support in business.