A conversation is communication by two or more people, or by one's self. Conversations are the ideal form of communication in some respects, since they allow people with different views of a topic to learn from each other. A speech, on the other hand, is an oral presentation by one person directed at a group.
Those engaging in conversation naturally relate the other speaker's statements to themselves, and insert themselves (or some degree of relation to themselves, ranging from the replier's opinions or points to actual stories about themselves) into their replies. For a successful conversation, the partners must achieve a workable balance of contributions. A successful conversation includes mutually interesting connections between the speakers or things that the speakers know. For this to happen, those engaging in conversation must find a topic on which they both can relate to in some sense.
"Banter" or "O-shaberi" (O-Shabs) in Japanese, or "Plagerij" in Dutch, is non-serious conversation usually between friends, which may rely on humour at the expense of those taking part or in-jokes. Banter is particularly difficult for those on the autism spectrum, or those with semantic pragmatic disorder. An example of banter is the use of "Mum jokes" or "your Mother jokes" between friends. This typifies the essence of banter; on the face of it, offensive, but because of the existing friendship bond between participants, it is in fact humorous, almost because of the irony of the situation.
On-screen couples can be said to have good banter if their innate understanding of each other's personality leads to a mutual respect for each other's barbs. Modern day examples are Woody Harrelson and Wesley Snipes in "White Men Can't Jump", Richard Pryor and Gene Wilder, and Ben Stiller and Owen Wilson.
Television programs described as "talk shows," such as William F. Buckley's Firing Line or the Dick Cavett Show, can be considered as exercises in conversation. In entertainment talk shows, however, the conversation is often pre-scripted.
Broadly speaking, conversation, which is not difficult for most individuals, can be divided into four categories according to its major content: conversations about ideas, conversations about concrete objects and facts, conversations about other people (usually absent) and conversations about "me". Each of these types of conversation has its own cluster of purposes and expectations attached, and each serves a different social purpose. Conversation about ideas serves to extend understanding and awareness, conversation about concrete objects and facts primarily serves to consolidate a group world view, conversation about others not present (gossip) serves to boost self esteem, and conversation about "me" is a means of attracting attention from others. In the real world no conversation falls exclusively into one category. Nevertheless the proportional distribution of any given conversation between the categories can offer useful psychological insights into the mind set of the participants.