Quality and effective communication within the organization ensures success and further progress in the future of business. Therefore, it is important to follow changes and adapt to modern ways of communication. Nowadays, it is communicated using technology, where electronic devices and the Internet are of great importance. Marketing is greatly progressing through social networks and that is why an increasing number of companies are active on them. The theoretical part of this paper describes the structure and ways of business communication inside and outside the organization. Modern approaches that make social networks an important channel of business communication are specially defined. In the practical part of the paper, the impact of social networks on business is determined using a survey. Respondents were employed people of a younger age, and they answered various questions related to the methods of business communication they use and their experiences with business communication through social networks. The purpose is to discover the advantages and disadvantages of the modern way of communicating, which ways people prefer and whether social networks can improve the future of companies and in what way.