AN ASSESSMENT OF EFFECTIVE COMMUNICATION IN AN ORGANIZATION
|BANKING AND FINANCE|
No of pages
|MS Word & PDF|
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For quite sometimes, organization have been reaping low profits, the reason for this is not for fetch.
They failed to appreciate the significance of an effective communication in an organization, which is the tool or instrument of efficient and effective operation in an organization.
However, Communication is a crucial element to every organization.
Communication is an organization is a primary binder, it binds every department together i.e. marketing department, purchasing department together etc.
In an organization setting where communication is not effective, it is regarded as wine of the dead”.
Who can communicate efficiently so as to meet their pre-determine goals and objectives.
Communication is an exchange of fact, ideals, opinions, information or emotion by two or more people with the sole intention of creation better understanding in an organization. Communication is a process which involves the transmission of accurate information, for the organization.
More especially, a modern business organization communicate with their customers as well as staffs or employers of their organization in order to bring some gaps and disseminate vital information’s.
It is necessary for an organization to consider carefully, the nature of and forms of communication that is most appreciate to the customers and employees communication begins with a source from a persons group and organization. A source encodes his or her thought or message in symbols, letter or calls to the receiver.
Message is transmitted through telephones, e-mail, notice board etc. receiver is the person who decodes i.e. assign meaning to the symbols which is received.
Response is the reaction on the part of the receiver.
Sources: The communication process (pride ferrell)
1.1 HISTORICAL BACKGROUND
Niger Insurance Plc was incorporated in 1969 as a private liability company, which was fully owned by British companies, then operating in Nigeria.
By the indigenization decree of 1973, the company become an investment of the federal government, derived all her interest in the company under the privatization and commercialization decree.
The company is now fully privatized, composite insurance company quoted on the flow of Nigerian stock exchange.
Currently, Niger Insurance Plc is among the BIG FIVE in terms of total gross premium income.
Furthermore, this company on an authorized shared capital of #3 billion with a very strong financial reserves to meets its claim.
Over the years, the company has developed a formidable work force comprising of highly qualified experienced, and well motivated staff both at the top and middle low management cadre.
This make it possible to handle most difficult insurance portfolio with ease.
In recognition of the fact that a person in financial distress, following a loss required immediate support, so the company gives prior attention to prompt settlement of claims.
This is made possible due to huge presence and strong asset they have.
In realization of the need to be flexible, they are often very competitive rate culminating in reasonable and affordable premium.
Also, there are numerous discount such as No Claims Discount, voluntary excess discount and plurality discount etc. applicable to specific polices which they offer all in bid to maximized people financial overlays.
In summary, Niger Insurance plc is committed to offering qualified insurance services.
Niger Insurance plc writes the following insurance polices, oil and gas, engineering, contractors, all risk aviation, amine, five special peril, wakens compensation, group, personnel accident, goods – in – transit policy, House hold policy and introducing polices to suit the special needs of their clients.
The company excellence performance history is been felt and recognized in all facts of the economy.
To mention just a few, between 1884 – 1996 Niger Insurance plc won the following awards to her credits.
1. August, 1994 award of excellence from Nigeria stock exchange (NSE) from being the best company in the insurance sector
2. December, 1995 Award of excellence from Nigeria stock exchange (NSE) for being the best company in the insurance company institute (WAIT) Banjul Gambia in recognition of the company’s role in developing west African sub – region.
3. April 1996 – Award of excellence from Akwa – Ibom broadcasting cooperation Uyo in recognition of its contribution in social welfare scheme in Nigeria.
1.2 STATEMENT OF THE PROBLEM
The focus of this study is determining the effectiveness of communication in an organization.
In the course of the study, effort has been made to find solution to the following research problems
1. What are the importance of communication in an organization.
2. What is the impact of communication in an organization.
3. What re the problems facing communication in an organization.
1.3 OBJECTIVES OF THE STUDY
This research work mainly focuses on the effectiveness of communication in an organization.
Therefore the aims and objectives of this research work will includes the followings
a. To find out the history of Niger Insurance plc.
b. To find out the nature of communication in Niger Insurance plc.
c. To find out the problems facing Niger Insurance plc in respect of an efficient and effective network system of communication.
d. To recommend ways of solving the problems facing Niger Insurance plc.
1.4 SIGNIFICANCE OF THE STUDY
This research was carried out to correct in adequacies of communication in Nigeria Insurance plc.
The relevance of the study includes the following.
1. The study will improve poor communication system in Niger insurance plc.
2. It makes possible for reliability of records.
3. It finds out reasons for proper recording and reporting of information.
4. It must also find answers to reason why there is no equitable treatment of communication in operation.
5. It will also enable us to discovered the effectiveness of the existing communication channel and to what extend it has helped the organization in realizing their goals.