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Why is Effective Communication so Important in Business?

It’s all about the bottom line.

Have you ever heard that expression?

It’s at the heart of every business. The “bottom line” is a company’s net income after all expenses have been paid out of its earnings. The bottom line determines whether or not you stay in business. And without effective communication, you won’t. Whether you’re running your own business, or just starting out on your business career, you’ll need to be a great communicator!

According to a recent study, companies with good communication practices are three and a half times more likely to outperform their competitors.1A business’s ability to compete may be the number one reason to promote effective communication, but it’s not the only one.

Good communication builds good teams. When team leaders are effective communicators, they inspire workers to reach for a common goal. They make sure everyone knows their responsibilities and how to perform them. With an open dialogue, employees pitch in when others in the organization need their help, and know when to ask for help, in return.

You can prevent misunderstandings with good communication. Rumors and bad will can derail an organization. Someone says something, and someone else takes offense. But when there’s open and honest communication, everyone’s on the same page. Sure, there may be disagreements, but they’re less likely to turn into problems when differences of opinion are given the outlet and respect they deserve.

Customer service relies on good communication. If you don’t know what your customers want, how can you give it to them? Whether you sell products or services, you need to listen to the needs of your customers, answer their questions, and provide answers that make sense to them. And when customers turn to social media to communicate, you need to be quick, attentive, and polite.

Good communication skills will help you achieve. Become an effective communicator and you’ll not only help your company; you’ll help yourself. Being able to communicate well—in writing and in speech—will set you apart from your peers. It will help you excel at work and be recognized for your accomplishments, and give you a competitive edge in the job market.

At Charter College, we provide real world business skills that go beyond just classroom instruction. We also teach you the art of effective business communication. Check out all our business programs to find out more now. If you’re ready for a new career in 2017, we’re ready to help you get started.