Explain Different Types of Business Information, Their Sources and Purposes

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Explain different types of business information, their sources and purposes

Business information is one of the three main segments of the information industry.

The primary forms of business information include:
· News
· Market research
· Credit and financial information
· Company and executive profiles
· Industry, country and economic analysis
· IT research
· Television

Types of business information include

Verbal information

Verbal communication can either be done face-to-face or over the telephone. The best way to communicate is face-to-face because there is less space for misunderstanding and it allows for verbal and non-verbal messages. The advantage of using verbal information is it's easier to communicate verbally than any other way because you get to understand every detail that is being spoken by the other person and speech enables complex ideas to be expressed and discussed. Some people find talking is the most comfortable method of expression. For example, Drayton Manor communicates with their staff verbally at a staff meeting about the new plans for the business and the changes that is happening and this is an advantage because the staff get to ask questions about the changes and they can get there opinions across about the plans. Also the employee will feel appreciated by the employer if they are being listened about their opinions which can lead the employee to stay in the business but the disadvantage is if Drayton Manor makes decisions about the improvement of the theme park without the employee's knowledge then this can lead for the employee to resign the job. The disadvantage of using verbal information is that it's not always possible for Drayton Manor to meet in person because with the constraints of time and budgets in business.

Written information

Writing is the use of physical symbols to represent words. Words are the sounds that make up speech. This definition can be broadened to include other forms of

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