ROLES OF PUBLIC RELATION IN BUILDING CUSTOMER TRUST IN THE BANKING SECTOR



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ROLES OF PUBLIC RELATION IN BUILDING CUSTOMER TRUST IN THE BANKING SECTOR



ABSTRACT

 

This thesis, Roles of public relation in building customer trust in the banking sector.. A case study of wetland microfinance bank, ogwashi uku is based on finding out the need of Public Relations at management level in a business organization using Wetland microfinance bank, ogwashi uku.

 

I this research work the researcher has investigated on how the management sees the public relations unit of the bank and how its activities affects the bank and also its benefits from these activities.

 

Questionnaires and oral interviews were used by the researchers to gather data in the analysis.  A total of 126 questionnaires were sent out to respondents comprising of the management staff, the working staff and customers of Wetland microfinance bank, ogwashi uku.  The researcher took note of their responses and this formed the basis of this research.  Above all the researcher read and made use of important and reliable books written by authors on Public Relations.

 

From findings, the researcher was able to observe that the Public Relations unit of F.B.N. is used as a managerial tool and its activities are being used effectively to obtain the bank’s goals and objectives.

 

Another major discovery is that the bank through the Public Relation Unit has been able to make use of suggestions made by customers to make amendments in the course of its operations.

 

In ending this work, the researcher has made some recommendations both for the growth of the bank and also for further studies in this area.

 

TABLE OF CONTENTS

 

CHAPTER ONE                                   

 

 

1.                  INTRODUCTION                                                    

1.1    BACKGROUND OF THE STUDY                     

 

1.                  STATEMENT OF RESEARCH PROBLEMS         

 

1.                  OBJECTIVE OF THE STUDY                                

 

1.                  SIGNIFICANCE OF THE STUDY                         

 

1.                  RESEARCH QUESTIONS                                      

 

1.                  RESEARCH HYPOTHESIS                                    

 

1.                  CONCEPTUAL AND OPERATIONAL DEFINITION OF VARIABLE                                                                         

 

1.                  LIMITATIONS OF THE STUDY                            

REFERENCES                                            

CHAPTER TWO

 

 

1.                  LITERATURE REVIEW                         

 

1.                  THE HISTORICAL ANTECEDENTS

OF PUBLIC RELATIONS                               

 

1.                  PUBLIC RELATIONS DEFINED                          

 

1.                  OPERATIVE PARTS OF THE

       ABOVE DEFINITIONS                                  

 

1.                  PUBLIC RELATIONS PROCESS                          

 

1.                  THE PLACE OF PUBLIC RELATIONS

IN MANAGEMENT                                      

 

1.                  THEORETICAL FRAMEWORK                            

 

1.                  AGENDA SETTING THEORY                               

REFERENCES                                            

CHAPTER THREE

 

 

1.                  METHODOLOGY                                         

3.1    RESEARCH METHOD                                  

 

1.                  STUDY UNIVERSAL/POPULATION                   

 

1.                  SAMPLE SIZE                                                                     

 

1.                  INSTRUMENT OF DATA COLLECTION             

 

1.                  METHOD OF DATA ANALYSIS                            

REFERENCES                                            

CHAPTER FOUR

 

 

1.                  DATA ANALYSIS AND

PRESENTATION OF RESULTS                       

 

1.                  RESULTS                                                                              

 

1.                  TESTING OF HYPOTHESIS                                                                                  

 

1.                  MAJOR FINDINGS                                                 

CHAPTER FIVE

 

1.                  SUMMARY AND CONCLUSION                              

 

1.                  RECOMMENDATIONS                                                                  

BIBLIOGRAPHY                                                  

APPENDIX                                                        

 

CHAPTER ONE

 

 

 

INTRODUCTION

 

 

1.                  BACKGROUND OF THE STUDY

Business organizations do not exist in a vacuum.  Whether dealing on good or specialized in rendering service.  Organizations (both private and public) exist at the expense of people in two factors have added impetus to the concept of people in today’s organizations.  They include firstly, the upsurge in the number and complexity of organizations and secondly are the ever increasing sophistication in the demand of consumers.

Today, the need for improvement in the use of “public Relations” as a means of achieving greater organizational results is increasingly being realized.  Today, organization that really wants to have the leading edge must be plugged or placed into trotline relationship with the customers and other publics.  Today it is being realized, more than ever before, that any organization, which chooses to work at cross – purposes  (misunderstanding) with its various publics especially the customers will not survive for a long time.  the notion of secrecy that characterized the activities of most business organizations is now far past.

 

Ikechukwu Nwosu, (1990) rightly put it “Public Relations is of great importance in human indispensability in creating goodwill, understanding the support needed between an institution (business organization) and its public”.  This seen in his definition of Public Relation, when he said that Public Relations practice is a deliberately planned and sustained effort to establish and maintain mutual understanding between and organization and its public.

 

The prevailing notion that the customer is “all powerful and therefore needs to be consulted in the various stages of production of foods and service so that the product comes out exactly the way he wants it has made public relation more and more relevant in today’s business organization.  So business organizations in general must not isolate themselves from the public, but should maintain a cordial continuing relationship with them.

 

Banks have gone a long way in the country or society as a whole.  They are recognized as business organizations selling services to the public.  The public’s readiness to buys the services depends largely on how much they know about the services and the confidence does not come however through “quietness” but through their effort in publicizing their activities on confidence overtime.  Looking at the failed banks situation in the country, where most customers of such banks lost their money to the illegal activities of such banks.  So there is the need for publicizing bank activities for proper knowledge or information to the customers and public.  By the time all the necessary information are made known to the public, dubious banks would be well differentiated by the public.

 

Banks cannot afford and should not afford to loose their customers, particularly on a continuous basis.  They have to strive to win customers but should not stop at that.  They should also retain the customers, and this has to do with public relations.

 

As a management function, public relations encompass the following:-

 

 

1.                  Anticipating, analyzing and interpreting public opinion, attitude and issues which might impact, for good or ill, the operations and plans for the organization.

 

1.                  Counseling management at all levels in the organization with regard to policy decision, courses of action and communication, taking into account their public ramifications and the organization’s social or citizenship responsibilities.

 

1.                  Researching, conducting and evaluating on a continuous basis, programme of action and communication to achieve informed public understanding necessary to the success of an organization’s aims.  This may include marketing, financial, fund raising, employee, community of government relations and other programmes.

 

1.                  Planning and implementing the organization’s effort to influence or change public policy.

 

1.                  Setting objectives, planning, budgeting, recruiting and training staff, developing facilities; in short managing the resources needed to perform all the above (Salu 1994).

Banks exist, therefore to serve the financial needs and wants of people as individuals, businesses, institutions, government, etc.

Conversely, a public relation is primarily concerned with creating goodwill, promoting and selling bank services, that, marketing in order to enhance bank’s profitability.

 

However, of recent, many factors have contributed to the decline of bank’s profitability in the Nigeria banks such factors include inflation, central banks regulatory guidelines, poor management of institution, fraud and malpractices, bad asset composition, political instability among others.  Such factors have sent hoe some banks to their distress levels today.  Public relation through its specialized communication skills owes it a duty to package effective communication message necessary to put the management and staff of the banks including their external public in apposition to see the bank a positive perspective or point of view, making the to shun such vices like fraud, malpractice, etc. that run counter to the wealthy development of the sector.   The public relations department owes its as duty to carry out trend analysis or environment scanning by engaging on a periodic assessment and monitoring of banking environment.

 

The department in doing this uses the formular known as SWOT analytical approach i.e. you assess the banking system’s Strength, Weakness, Opportunity and Threats and provide adequate information to the management (Nwosu, 1996).

 

It is indeed painful to note that after many years of the integration of the department in the banking system, banks have not changed much for the better.  Worthy to mention in this discourse is also the fact that some banks give a lean attention to the department while other, out of deliberate misinterpretation and misconception or through ignorance thought of the department to be negligible or have not effect at all.

 

It was against this backdrop or finding lasting solution to this sector that rekindled the interest of the research in assessing the use of public relations as managerial tool in business organization (Wetland microfinance bank, ogwashi uku, Enugu branch).

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All Project Materials Inc. (2020). ROLES OF PUBLIC RELATION IN BUILDING CUSTOMER TRUST IN THE BANKING SECTOR. Available at: https://researchcub.info/department/paper-8490.html. [Accessed: ].

ROLES OF PUBLIC RELATION IN BUILDING CUSTOMER TRUST IN THE BANKING SECTOR


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This thesis, Roles of public relation in building customer trust in the banking sector.. A case study of wetland microfinance bank, ogwashi uku is based on finding out the need of Public Relations at management level in a business organization using Wetland microfinance bank, ogwashi uku. I this research work the researcher has investigated on how the management sees the public relations unit of the bank and how its activities affects the bank and also its benefits from these activities. Questionnaires and oral interviews were used by the researchers to gather data in the analysis. A total of 126 questionnaires were sent out to respondents comprising of the management staff, the working staff and customers of Wetland microfinance bank, ogwashi uku. The researcher took note of their responses and this formed the basis of this research. Above all the researcher read and made use of important and reliable books written by authors on Public Relations. From findings, the researcher was able to observe that the Public Relations unit of F.B.N. is used as a managerial tool and its activities are being used effectively to obtain the bank’s goals and objectives. Another major discovery is that the bank through the Public Relation Unit has been able to make use of suggestions made by customers to make amendments in the course of its operations. In ending this work, the researcher has made some recommendations both for the growth of the bank and also for further st.. Click here for more

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