Explain Different Types of Business Information, Their Sources and Purposes

Verbal communication uses words to present ideas, thoughts and feelings. Good verbal communication is the ability to both explain and present your ideas clearly through the spoken word, and to listen carefully to other people.

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

Verbal communication is talking to someone and giving them information and also retaining information. Furthermore verbal communication is very important in a health and social care setting because it allows care workers and service users interact with each other face to face. This would then help the service user understand what the care worker is trying to say/explain to them because it would be clear and precise. The service users may feel that the care workers are showing an interest in their needs and well-being if they are communicating with them verbally (Face to face).

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

Market research indicates decisions made by a business, in this case Tesco, by helping the decision makers understand undercurrents of its market. This process involves research done on customers, competitors and the overall marketing environment.

Verbal communication is one by asking questions you can asked closed or open questions or just talking to the individual we can show empathy and understanding. Non verbal communication so this could be by writing or by picture cards or easy read documentation.

Face-to-face verbal communication is the best way to communicate. There is less chance for misunderstanding and it allows for verbal and nonverbal messages. However with the restrictions of time and budgets in business it is not always possible to meet in person. Telephone conversations are also useful ways to communicate but it is important always to use a combination of methods. For example ‘Subway ‘can use verbal communication through telephones in order to update each other knowledge about finance

Verbal communication is a two way process and should involve active listening. I will need to adapt my style and method of communication based on whom I am communicating with. For example, if I am communicating with a professional such as a GP the communication will be formal as opposed to how I would communicate with a service user where communication is more informal. There are some basic do's and don'ts which can aid verbal communication. These are:

Market research is utilized by companies to make the right decisions when it comes to

Communicating information verbally by speaking face to face can be the best way of communicating as there is less chance of misunderstanding and non verbal actions such as body language or tone of voice can be interpreted. Sometimes it isn’t always practical to meet in person so telephone conversations would be a useful way to communicate. The range of

Verbal communication is used in a health care to really communicate and build strong relationships with staff and patients. Verbal communication can be formal and informal depending on your relationship with the patient, such as when speaking to a patient you will have a formal way of communicating with them. If you were speaking to an old friend you would speak in an informal manner. If you were going for a job interview you would be very formal in the way you speak. Verbal communication can have many positive and negative effects. Having verbal communication with patients can help them understand and connect with their doctor or nurse. It can also give the patient a chance to ask any questions or queries they may have. These conversations can be done in private and is one of the quickest ways of giving information immediately. When having verbal conversation there is no proof of the conversation so all information should be written down. If a patient misunderstands what is communicated to them it can lead to many issues, such as the patient not taking medications as directed or patients saying things

Verbal Communication referred to as word based communication. Verbal communication can be oral as well as written for example e-mails, letters. The health care practitioner always should use appropriate language when they are working with service users and their families, colleagues. Communication is being clear, friendly and pace is suit to listener is the key to effective communication and will help to form and maintain effective care relationship ( Rasheed, 2010).

Data collection can be obtained from observations, surveys, interviews, or social media. Before beginning to collect digital data, participants must be advised on how the company plans to

Primary data- this data does not exist, it requires the researcher to communicating with people or making observation about people and situation in order to generate the data. Although it is much harder and time consuming compare to secondary data, it is the most valuable resource for the company since it targets the specific problem that the company has.

Primary and secondary sources are ways in which data can be retrieved. As Serakan (2006) stated, “Primary data refer to information obtained by the researcher on the variables of interest for the specific purpose of the study”. Various evidence suggesting to what methods of primary research can be conducted and which are most effective for the previously mentioned problem description are stated in this chapter.