Communication in commerce

CONTENT

1. Importance of Communication to Commerce
2. Functions/Services of NIPOST
3. Functions/Services of NITEL
4. Services of Courier firms(companies)

NOTES

Communication is the act of sending and receiving message/information from one person or place to another. Communication could be oral, written or visual.

IMPORTANCE OF COMMUNICATION TO COMMERCE

1. It facilitates contacts between businessmen
2. It creates awareness for goods and services thereby increasing demand for goods/sales
3. It facilitates the settlement of business debts e.g. Mail transfer
4. The use of wireless makes it possible to control ships, aeroplanes, spacecrafts etc.
5. It facilitates mail order business
6. It links the whole world into one economic unit thereby facilitating international trade.
7. It facilitates the distribution of vital business documents as well as goods
8. It reduces the cost and risk in traveling for business transactions

MEANS OF COMMUNICATION

i. Posters  ii. Radio  iii. Television iv. Letters v.Telephone  vi. Telegrams vii. Telex viii. Internet  ix. Satellite  x. Post office.

FUNCTIONS/SERVICES OF NIPOST

1. Issuance of postage stamps
2. Ordinary letter post
3. Parcel post
4. Registered Letters
5. Express Letters
6. Private boxes (P.O Box) and bags (P.M.B)
7. Poste Restante
8. Recorded Delivery
9. Business Reply Services
10. Licensing of franking machine.
11. Free post
12. Air mail services
13. Acting as agent of payment
14. Cash on Delivery (C.O.D) Services
15. Acts as a savings Bank
16. Provision of means of payment e.g. postal orders, money orders etc.

EVALUATION QUESTIONS

1.         List five services provided by NIPOST.

2.         State five importance of communication in commerce.

FUNCTIONS/SERVICES OF NITEL

1. Telephone services
2. GSM services i.e. through MTEL
3. Telex Services – for printed messages sent through machines called teleprinter
4. Satellite services e.g. for live transmissions of games ,events etc
5. Data Transmission Services
6. Provision of Telephone Directories
7. Telegram Services

FUNCTIONS/ADVANTAGES OF COURIER SERVICES

1. Fast and safe delivery of mails and parcels
2. They undertake air cargo and bulky shipments of commodities
3. They render nationwide (and world wide) services. Services are extended even to rural areas.
4. Twenty four hour services are provided
5. Important mails and parcels are insured
6. Their services are more personal and cordial
7. The courier companies provide employment opportunities

Differences between the Courier Services and Post Office Service

EVALUATION

1.         State five functions of a) NIPOST b) NITEL

2.         List five advantages of courier services over public postal services

READING ASSIGNMENT

Essential Commerce for SSS by O.A Longe page 222-231

WEEKEND ASSIGNMENT

1. Mail order firms largely depend on the services of the a) banks b) insurance companies

c) mobile vans d) post office

• Telecommunication services are provided by a) NITEL b) NIPOST c) courier services d) Bureau De Change
• Which of the following involves the delivery of mails to a traveler without fixed address

(a) Speed post  (b) Reply paid   (c) Recorded delivery   (d) Poste Restante

• The fastest and mot accurate means of passing information is    (a) airmail letter   (b) express letter   (c) telegram   (d) telephone
• In which of the following does the number of words used determine the cost of the message

a) Telephone b) Recorded delivery c) Telex d) Express mail.

THEORY

1.         State three functions of courier companies

2.         List three importance of communication to commerce

GENERAL EVALUATION QUESTIONS

1. State seven functions of a chamber of commerce
2. Explain five functions of a trade association
3. State five problems that a co-operative society may likely face
4. Explain five importance of working capital to a business
5. State five factors that can affect the rate of turnover of a company