An Assessment of the Challenges of Internal Communication and Its Relationship to Successful Product Implementation in a Commercial Bank

Abstract

When internal communication is not efficient and effective in an organisation, it can lead to low product uptake, disconnect between knowledge of products and services on offer, bad customer experience and even penalties and sanctions due to lack of proper information flow on product pricing and modifications. It is on this basis that this study aimed at assessing the challenges of internal communication and its relationship to successful product implementation at Stanbic Bank Zambia. A quantitative approach was used in the study and data was collected using a survey questionnaire that was administered to bank staff. The researcher received responses from 41 staff. The data was analysed using Pearson correlation coefficient and P-value analysis with the Statistical Package for the Social Sciences (SPSS version 16.0) and Microsoft Excel. This involved the use of frequencies and percentages on relevant data, as well as the application of Pearson correlation and two tailed significance (0.05 level of significance) tests on necessary variables identified in the hypotheses. The independent variables that were analysed in relation to effective communication included: biological factors that are gender and age, communication skills, social systems (department/branch and time with the bank), technology/channel used and feedback. Whereas the dependent variable was effectiveness of internal communication. Through analysis of data and correlation of variables it was found that biological factors and social systems did not have significant influence on effectiveness of the internal communication, while communication skills of sender or receiver, technology or channel used to communicate and feedback in the communication process all had significant influence on the effectiveness of internal communication.