Importance of effective communication strategy in bank

Added on - 21 Feb 2021

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CASE STUDY
Table of ContentsINTRODUCTION...........................................................................................................................3Importance of effective communication strategy in bank............................................................3Model of communication for Staples Bank.................................................................................4Methods for overcome communication barriers..........................................................................5Modern technologies for improving communication process.....................................................6Ethical issues face by bank and ways to minimize impact of ethical issues................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTIONCommunication is process of communicating with two or more peoples at the same time.By the effective communication process an individual can share their thoughts, feelings,emptions, messages and information. With the help of communication, an organization orindividual can understand each other thoughts.Staples bank is the leading bank of United Kingdom, with 100000 staff in more than 50countries. It is the important part of multinational bank with 5500 rental outlets in 9 countriesincluding Canada, US, Germany, Ireland, Spain, India and South Africa (Ali and Kamran, 2017).In this will conclude about the effectiveness of communication in Staples bank. In this report willdiscuss the importance of effective communication strategy that will Staples bank use foreffectively communicating. This report will also include the suitable model of communication todescribes they key stages in communication process adopted by Staples bank. In this will alsodescribes about the method that Staples bank sue for overcome potential hindrances to itscommunication strategy (Austin and Pinkleton,2015). This report will also show the five moderntechnologies that Staples bank can use to improve its communication process. In this report willrepresent the key ethical issues that Staples bank was accused of and suggest ways to usecommunication strategies to minimize the impact.Importance of effective communication strategy in bankCommunication is very important in an organization for performing all types of task andduties. With the help of effective communication process a company can effectively performtheir all task. For Stapless bank it is very important for adopting effective communicationstrategy in their bank.Standardized communication:With the help of standardized communication Staples bankemployees can more effectively communicate with their managers, colleagues and otherimportant person of bank. For standardized communication process bank can use all the shareinformation record by the data record or data collection (Davis and et.al., 2017). This type ofmethod also reduce the problem of misconduct in bank. It has been already happen in Staplesbank, if bank earlier use this type of criteria of information than misconduct will not happen inthe bank and no one will be able tos share false information about the bank.Company Image:Effective communication styles also important to build a strong and goodimage of company in market. If Staples bank use effective communication strategy than it will
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