Evaluation of communication strategies at the Nairobi Stock Exchange
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Date
2007Author
Oluoch, Patricia A
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
The study was a census of all the 18 active stock broking firms which are
members of the Nairobi Stock Exchange. Out of the 18 respondents
considered, only 12 firms responded contributing to a response rate of
67%. The objectives of the study were to determine whether the broking
firms have specific communication strategies and to establish the
effectiveness of these strategies in educating investors. Mail system of
questionnaire administration was used and descriptive statistics such as
mean scores and percentages were used to analyze data.
The study found that the staff of broking firms are aware about mission
statement of their broking firms to a small extent (1.67), implying that
they are incapable of communicating the firm's business to customers. It
was revealed that broking firms do not have strategic plans and there are
no documented communication strategies. 67% of the respondents
operate using only short term plans implying that they rely on ad hoc
communication plans. It was also found that communication influences to
a large extent adaptability and flexibility (3.7), control initiatives by
managers (3.7), and diverts attention from operational issues (3.7).
Factors that determine success in stock broking trade include integrity,
speed of order execution, and professionalism. The study recommends that brokerage firm's staff be educated about the
firm's mission statement and they should be involved in formulating and
implementing communication strategies. It is further recommended that
firms engage communication experts to assist them in developing long
term communication strategies.
Sponsorhip
University of NairobiPublisher
School of Journalism, University of Nairobi