1) Good business communication is essential to avoid delays, dissatisfied customers, and angry stakeholders. The role of communication depends on business goals and audience.
2) Effective business communication ensures the intended message is received without distortion, which is challenging with "one-to-many" communication common in business.
3) For new product development, communication plays a key role in innovation success by allowing small teams to share information openly and honestly. Documentation of plans and meetings is also important.