Week 9 and 10 – SS2 Third Term Commerce Notes

 WEEK NINE AND TEN                            Date:……………………….
TOPIC: COMMUNICATION
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
   

5. It facilitates contacts between businessmen
6. It creates awareness for goods and services thereby increasing demand for goods/sales
7. It facilitates the settlement of business debts e.g. Mail transfer
8. The use of wireless makes it possible to control ships, aeroplanes, spacecrafts etc.
9. It facilitates mail order business
10. It links the whole world into one economic unit thereby facilitating international trade.
11. It facilitates the distribution of vital business documents as well as goods
12. 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
    

13. Issuance of postage stamps
14. Ordinary letter post
15. Parcel post
16. Registered Letters
17. Express Letters
18. Private boxes (P.O Box) and bags (P.M.B)
19. Poste Restante
20. Recorded Delivery
21. Business Reply Services
22. Licensing of franking machine.
23. Free post
24. Air mail services
25. Acting as agent of payment
26. Cash on Delivery (C.O.D) Services
27. Acts as a savings Bank
28. 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
    

29. Telephone services
30. GSM services i.e. through MTEL
31. Telex Services – for printed messages sent through machines called teleprinter
32. Satellite services e.g. for live transmissions of games ,events etc
33. Data Transmission Services
34. Provision of Telephone Directories
35. Telegram Services

     FUNCTIONS/ADVANTAGES OF COURIER SERVICES
    

36. Fast and safe delivery of mails and parcels
37. They undertake air cargo and bulky shipments of commodities
38. They render nationwide (and world wide) services. Services are extended even to rural areas.
39. Twenty four hour services are provided
40. Important mails and parcels are insured
41. Their services are more personal and cordial
42. The courier companies provide employment opportunities

     Differences between the Courier Services and Post Office Service

    	Courier services	Postal services
    1	Materials are usually insured	Materials are not usually insured
    2	Loss of goods are low	Loss of goods are high
    3	Very expensive	Relatively cheaper
    4	Very quick, efficient and reliable service	Very slow and inefficient service
    5	Longer hours of services are rendered	Less hours of services are rendered
    6	Nationwide and worldwide coverage	Less coverage of activities
    7	Personal and cordial relationship with customers	Less personal attention is given to customers
    8	Provide door- to-door service	Do not usually door-to-door 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

    1. Telecommunication services are provided by a) NITEL b) NIPOST c) courier services d) Bureau De Change
    2. 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

    3. The fastest and mot accurate means of passing information is (a) airmail letter (b) express letter (c) telegram (d) telephone
    4. 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
    

43. State seven functions of a chamber of commerce
44. Explain five functions of a trade association
45. State five problems that a co-operative society may likely face
46. Explain five importance of working capital to a business
47. State five factors that can affect the rate of turnover of a company