By Akuanyionwu, Kate Chizoba
Communication is vital to all human endeavors especially service oriented business
such as banking. Communication is very essential, it could make or mare the business
depending on how effective it is used. Communication has been identified as one of
the major causes of banking distress especially merchant banking, wqich is wholesale
banking dealing with people who are highly knowledgeable about the business. Many
organizations encounter various problems in communication within and outside their
organizations. Due to this fact, the researcher deemed it necessary to research into
the various aspects of communication techniques, methods, channels and directions
of communication adopted in the achievement of the aims and objectives of the
organizations.
The aim of the researcher is to determine the impact of effective communication in
Merchant Banking operations, especially as it concerns intra and inter personal
communication. In addition to finding out possible barriers, which hinder effective
communication with a view to providing solutions
carrying out this research, a review of related literature was carried out, in the areas
of importance of ccrnmunication process, channellmethods, barriers and most
importantly principles of effective communication.
Data for this research was collected through questionnaire, personal interview and
observation.
From the questionnaire, presentation, analysis and interpretation of date were drawn
.It was observed after the analysis that communication is very vital for the achievement
of the aims and objectives of an organization since it is the link for the co-ordination of
all activities in the organisation.
Certain barriers such as noise, distortion, delays, wrong use of words etc. were also
found to militate against effective communication.
Some recommendation based on findings were given by the researcher, such as
encouraging feedback, writing clearly, gave some recommendations based on findings
good listening habit, clarification when in doubt etc. can improve organization's
effective communication system.
Without communication civilization as we know it today will be impossible .We live in a
very complex, sophisticated and dynamic world, every organization depends on
communication which has grown over the years and which has projted indispensable
in the achievement of the organizational goal and objectives especially Merchant Banking operations.