Internal Communication Strategies And Competitiveness Of Commercial Bank Of Africa In Kenya

Abstract

The banking sector has increasingly experienced a lot of changes in their strategies due to the competitive nature of the industry. The adoption of a robust internal communication strategy in the new era of technology is amongst the key strategies that the industry has embraced. There are also a lot of changes that are taking place in the banking space and it is therefore imperative to have a proper internal communication structure in place to ensure that the other stakeholders do not feel left out. The objective of this research project was to determine the internal communication strategies and the competitiveness of Commercial Bank of Africa in Kenya. The research sought to establish the internal communication strategies adopted by Commercial Bank of Africa and whether these strategies adopted are in any way aiding the bank in remaining competitive within the banking industry in Kenya. The research adopted a case study approach, thus the focus on Commercial Bank of Africa Kenya. The two theories which underpinned this research include Constructive theory of communication and the Resource based view theory. Since the information gathered were qualitative in nature, the study adopted an interview guide as an instrument for data collection. Content analysis was the method used to interpret the raw data collected from the interview. The findings of the study revealed the very critical role of the internal communication strategies adopted by Commercial Bank of Africa to ensure that it remains competitive in the market. The study further revealed that the banking industry has become very dynamic and having a robust strategy in place was needed in order adapt in the ever changing environment. These internal communication strategies include education and training, internal customer image, quality standards and systems of reward. The study results further ascertained that Commercial Bank of Africa has successfully used these strategies to externally position itself as one of the Tier one banks in Kenya. It has further been able to increase its external client base and loyalty because the internal customer has been well catered for. On the basis of the findings, the study has made recommendations to the policy makers, the management and the theorist. To the policy makers the study recommended that the policies should be streamlined to ensure that the internal communications strategies are effectively implemented for enhanced results. To the management the study recommended that internal communication should be treated as a critical strategy and should not be undervalued as a strategy.