There have been changes and advancements in the field of information and communication and a firm must keep abreast with other firms to a degree of competitive advantage. These changes in the organizations today point to the need for organizations to continually evaluate the effectiveness of communication channels so that they are value adding. The aim of this study is to investigate whether effective business communication is an essential tool for organizational survival or not with First Bank Nigeria Plc as a case study. Consequently, the chi-square technique was used to analyze the data gathered from the respondents and to test the hypotheses effective communication has no significant effect on the survival of a business organization (null hypothesis) and effective communication has significant effect on the survival of a business organization (alternative hypothesis). It was found out that business communication when done effectively, will improve the performance of the organization.