This document discusses the importance of communication in business. It provides several reasons why communication is important, such as managers spend 50-90% of their time communicating, miscommunication causes 70-80% of accidents, and flattened hierarchies and increased teamwork require more communication. It also discusses trends that increase the need for communication, such as globalization and new technologies. Effective internal communication within a business and external communication with customers is needed for businesses to succeed. Internal communication includes communication between departments, while external communication promotes the business with customers and stakeholders.