PUBLIC RELATIONS AS A TOOL FOR ACHIEVING ORGANIZATIONAL OBJECTIVES:
(A CASE STUDY OF UNITED BANK FOR AFRICA (UBA) PLC., ENUGU)
The needs for a company to strive to improve its profitability are obvious and varied.
This was as a result on how active their public relations towards their clients.
As a matter of fact, Bank needs public relations as a tool for achieving its objectives.
Perhaps, public relations is relationship with the general public through publicizing those functions of an organization, corporation, church, government military, institution etc. Concerned with informing the public and analyzing these information in an attempt to create favourable public opinion.
However, one major point in this review that is quite clear in Nigeria context is that, bank begin to understand the uses of public relations practices and strategies in improving its profitability because both offices and other categories of staff are involved in act of selling bank services at any time.
Finally, to improve the profitability was the adoption of a sound and well articulated public relations strategies which was directed towards understanding and interpreting customers’ needs and wants offering a maximum of services to satisfy these customers, informing the community on how the services are been offered and the recommendation is that the management should be referred to the public relations department which should not only promptly attain t the matter and should advice the branch managers on the complaints and remedial action to be taken.
TABLE OF CONTENTS
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF RESEARCH PROBLEM
1.3 OBJECTIVES OF THE STUDY
1.4 SIGNIFICANCE OF THE STUDY
1.5 RESEARCH QUESTION
1.6 HYPOTHESIS FORMULATION
1.7 CONCEPTION AND OPERATION DEFINITION OF TERMS
1.9 LIMITATION OF STUDY
REVIEW OF RELATED LITERATURE
2.1 SOURCES OF LITERATURE
2.2 PUBLIC RELATIONS IN BUSINESS ORGANIZATION (BANK)
2.3 PUBLIC RELATIONS OF (UBA)
2.4 SUMMARY OF LITERATURE REVIEW
3.1 RESEARCH METHOD
3.2 RESEARCH DESIGN
3.3 RESEARCH SAMPLE
3.4 MEASURING INSTRUMENT
3.5 DATA ANALYSIS
3.6 EXPECTED RESULT
DATA ANALYSIS AND RESULT
4.1 DATA ANALYSIS
SUMMARY AND RECOMMENDATIONS
1.1 BACKGROUND OF THE STUDY
The reason for bank to survive, to improve their profitability are obvious and varied. In this era of competition, there is need for organizations, Banks, Business enterprises, Churches, Clubs and others to evolve procedures to improve their performances to the benefit of their consumers and knowing fully well that things have changes and so also are the dream of customers.
For banks, the need is more pronounced especially when they are faced with what we may call both Institution and Inter-bank competition, which at times lead to the declining profit margin of many banks consequent upon some factors as inflation and tight money supply measures of the government. This competition among banks and other public relations program geared towards building good corporate image for their respective banks.
Nigerian banks have recognized that public relations has become the integrating force which interprets their environment to the bank management, defines objective and building good will through good deeds. In furtherance of these objective, many banks in Nigeria have introduced extra incentive such as credit cards, weekend banking organizations all in attempt to provide exceptional service for their customers and to retain old customers, attract potential dispositions and win public understanding. Those banks adopting to changing trends by creating public relations department as a tool to boost corporate image are currently experiencing increase.
HISTORY AND ROLES OR BANKING IN THE NIGERIAN ECONOMY
Banks is defined as an institution for keeping, lending and exchanging of money. Banking as an industry is impossible in a non-monitored economy. The growth of banks in the former British West African (Nigeria Inclusive) did not start until the introduction of the British colnage and currency-system in late 19th century.
Banking business was fast introduced in Nigeria in 1892. The First bank in Nigeria was Africa Banking Corporation from 1892; banking activities started striving with rife competition between rival banks. This was free banking era. It was characterized by non-existence of banking legislation. Anybody could set up bank provided he registered under the provision of companies’ ordinance. The ordinance prohibited formation of a banking company unless it was registered as a company.
This period, witnessed the establishment of bank of British West Africa (BBWA), Barclay Bank, Dominion Colonial and Oversea Bank of British and French Banks, National Bank of Nigeria and Africa Continental Bank Limited.
In 1894, the BBWA was established in Lagos. It took over the service of Africa Banking Corporation. It remained the only bank in the country until it was joined by Barclay in 1912. Another expatriate bank of this free banking period was British and French Banks Limited established in 1949 and presently called United Bank for Africa (UBA). The National Bank of Nigeria established by government of Western Nigeria on 11th February, 1993 has distinction of the first successful indigenous bank were the Nigeria pioneer and commercial bank limited. Three other indigenous banks were African Continental bank Limited, Agbonmagbe Bank Limited and the Merchant Bank Limited.
There were seven banks, which survived the free banking era. However, the banks that failed were Industrial and Commercial Banks, Nigeria Mercantile Bank and the Nigeria Perry Banks. By 1988, all mushroom banks had collapsed except Agbomagbe bank, Merchant Banks, National Bank of Nigeria and three expatriate’s banks. They survived the banking booms of the late 1940s and early 1990s. These banks were established primarily to make profit. This explains the dissemination in lending in the early periods of their development. The main purpose of banks in the economy is to help businessmen increase their output by providing the essential service of liquidating flow and expert advice investment.
According to the preposition of financial system review committee of 1976, sets of five objectives are expected for the banks. The bank should actively facilitate the transformation of the normal environment by promoting the rapid expansion of banking facilitate the transformation of the normal environment by promoting the rapid expansion of banking facilities, services and banking habits in minimal communities most importantly, they will serve as vehicles for the creation of credit in the rural areas, in the form of equity and loans for small-scale farmers and entrepreneurs.
Secondly, banks should extend consistent with banking prudence, increasingly undertaking more medium and long-term investment planning for the application of the procedures.
Thirdly, they should conform to National objective and identify fall with Nigeria Inspirations by taking more active part in the financing of the economy programme of National priority.
Consequently, their sensitive positions in the financial system necessities that they brought under Nigerian control with the ownership and management.
Fourthly, decision-making in the main commercial banking sector must be localized. This would have the possibility of our major economy.
Fifthly, the bank should use a significant part of their profit to improve the quality of service being offered to the above national objective expected of the banks.
BRIEF HISTORY OF PUBLIC RELATIONS IN NIGERIA.
Public relations activities in Nigeria can be grouped into two periods, pre-colonial and independence periods.
In pre-colonial era, public relations outlets were inscriptions on wall of places and graves. These engraved information converged and lots of ideologies on mind of people who come to grace ceremonial occasions. During this period oral media such as Town Criers, Messengers and Palace Diners were used to the advantage of the Chiefs, Obas and Emirs.
The instutitionalization of the public relations as the concept of management characterized the colonial phase of public relations can be attested to buy the establishment of ministry of information, which was solely charged with the propagation of the white man’s cause in Lagos.
Public relations as a modern practice started with civil service at Lagos, Enugu, Kaduna and Ibadan. These offices served as persuasion out points. The Lagos office of the ministry of information (public relation) was at 20 Campbell Street Lagos. In 1932, radio was used to propagate information by colonial government, but as at 1944, the name of the office was changed to Public Relations Office, which was reverted to Ministry of Information in later years. Commercial public relations started by UAC, Leventis, UTC and other multi-National which helped a lot in the development of modern public relations in Nigeria. Publications and circulation of newspaper, magazine and printing of photographs were the initial activities of public relations events.
UAC, published the “Devine” in two Nigerian languages (Igbo and Yoruba) as well as in English. A publication called “the Nigerian Children’s Own” was published and circulated by ministry of information.
The modern public relations came up with the emergency of Nigerian Institution of Public Relations. The affiliations of this union to Institution of Public Relations Association (IPRA) and Federation of Advertising and Public Relations Association (FAPRA) make Nigeria public relations practitioners members of such international bodies.
Apparently, public relations in Nigeria was still developing when United Bank for Africa (UBA) was established in 1974. the incorporation of Public Relations activities in the bank took off proper in 1993.
BRIEF HISTORY OF UNITED BANK FOR AFRICA
United Bank for Africa Plc. Of Nigeria was incorporated as public liability company with an authorized share capital was subsequently increased to N120 million. The 20,000,000 ordinary shares of N1.00 each have been issued and fully paid. The bank was issued a license to carry on banking business on June 12, 1978. It commenced business on June 27, 1982, United Bank for Africa Plc (UBA) is jointly owned by the state government and private Nigerian investors. The share holding structures are as follows: Enugu State and Anambra State government 35%, Nigerian Private Investors 65%. United bank heal office is located in Enugu, the state capital and other various states.
Accordingly, the bank is committed to the expansion of its branch network with a view of making its services available through the country, for now, the bank has branches in Enugu, Onitsha, Lagos, Kano, Jos, Kaduna, Imo and most other states. The bank has also embarked on a computerization programmes in order to enhance the calvary of its services.
1.2 STATEMENT OF RESEARCH PROBLEMS
Research is done to identity and solve a problem hence the identification of these problems gives direction to the research work in this case the problems are:
1. To find out how public relations unit function in the banking sector of the economy.
2. To find out how public relations department have helped to improve bank profitability with special emphasis on United Bank for Africa (UBA), Enugu.
3. To determine the reason for high interest rate on the customers and how customers’ feelings are relayed to the management.
1.3 OBJECTIVE OF THE STUDY
1. The study is to properly ascertain how public relations, which is an innovation in the banking sector improves bank profitability
2. To find out how public relations in banks can be used in improving contact with this associate Institution of Bankers, Trade Unions, Business Community, Government Policies and Employees.
3. To find out how United Bank for Africa (UBA) public relations department functions.
4. To make recommendations on public relations activities in commercial banks based on research findings in United Bank for Africa (UBA) and Public Relations Department.
1.4 SIGNIFICANCE OF THE STUDY
This research work is aimed at offering an insight into the impact of public relations in commercial banking so as to reveal its pitfalls and success, such insight can be used to make useful inference on the performance of public relations programme in commercial bank, merchant bank and public bank (CBN).
Investigating the operation problem of public relations in banks will sensitize policy made to workout remedies for improving the efficiency of the bank’s image making department.
1.5 RESEARCH QUESTIONS
1. Is the public relations department of UBA able to improve in its profitability?
2. Is the public relations department of UBA by portraying good corporate image of the bank?
3. Has public relations department of UBA been able to promote their services to the development of the nations economy?
4. Are you satisfied with the services of the public relations department of UBA?
1.6 RESEARCH HYPOTHESES
H1: The public relations units of UBA have a very high profitability output.
H0: The public relations units of UBA have a very poor profitability output.
H2: The public relations department of UBA portrays good corporate image of the bank.
H0: The public relations department of UBA does not portray good corporate image of the bank.
H3: The public relations department of UBA has contributed to the development of the nations economy.
H0: The public relations department of UBA does not contribute to the development of the nations economy.
H4: The public relations department of UBA renders high quality customers services.
H0: The public relations department of UBA does not posses high quality customer services.
1.7 CONCEPTUAL AND OPERATIONAL DEFINITION OF TERMS
Conceptual: Public Relations: This is public conduct of the affairs of an organization with regards to its reputation and standing in public opinion.
Operational: Public Relations: The activities and techniques reputation among its public.
Conceptual: Activities: Any form of techniques employed by UBA in influencing customers and promoting goodwill and favourable reputations among its public.
Conceptual: Profitability: An extra incentive or motivation strategy employed by UBA in order to make more gain.
Conceptual: TWO – WAYS COMMUNICATION: Act of communicating between two persons and groups etc in which with participating equally.
Operational: Two-ways communication: A strategy used by UBA to pass information between the management, staff and its customers (vise-versa).
Conceptual: Information flow: message or knowledge passed freely between people.
Operational: Information flow: The free movement of message passed between the staff, customers and management of UBA.
Conceptual: Satisfaction: An act of satisfying ones need of want or an act of fulfillment.
Operational: Satisfaction: This is the gratification or contact customer derive from banking with UBA.
It is assumed that the respondents to the questionnaire are informed enough to understand the questionnaire since attempts were made to frame questions to be as simple as possible.
It was also assumed in this study that single of the population will be a representative one since the organization under study is a commercial bank. The result got from the sample will be used to generalize the entire commercial in the nation.
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