Organizational Communication

Memo
TO:
FROM: Khaleel Alshareet
DATE: December 3, 2016
SUBJECT: Report on Effective Communication in Financial Institution
Communication has been a fundamental tool in cooperating efficiency in organizations and ensuring proper decision making in the organization. The basis of discussion is to resolve better ideologies in an entity and to facilitate appropriate mechanisms in building a good reputation and customer satisfactions. Thus, the research at this moment tries to promote better service delivery through information analysis and standards formulations in communications.
The report, in this case, is to give a framework in the financial institution in ensuring better customer service and communication translation. The study basis is in the United Arab Emirates states with a different information conflict in the service industry. Several customers have posed a significant need to transform communication resolutions to enhance customer satisfaction. The study has further gone to the implementation plan in ensuring that the recommendations are set as stipulated in the strategies.
The study uses several scholars’ report in the industry, and through this research, communication factors have been the main idea in transforming better organizational performance. The report further gives a series of recommendations that are important in the financial sector and individual reforms that are critical to achieving high-performance standards in an organization.
Resolving Effective Communication in a Financial Institution
Khaleel Alshareet
Institution Affiliation
Table of Contents
TOC o “1-3” h z u HYPERLINK l “_Toc468492629” Executive Summary PAGEREF _Toc468492629 h 4
HYPERLINK l “_Toc468492630” 1.

0 Introduction PAGEREF _Toc468492630 h 5
HYPERLINK l “_Toc468492631” 1.1 Background of the Study PAGEREF _Toc468492631 h 5
HYPERLINK l “_Toc468492632” 1.3 Problem Statement PAGEREF _Toc468492632 h 6
HYPERLINK l “_Toc468492633” 2.0 Literature Review PAGEREF _Toc468492633 h 6
HYPERLINK l “_Toc468492634” 2.1 Introduction PAGEREF _Toc468492634 h 6
HYPERLINK l “_Toc468492635” 3. 0Methodology PAGEREF _Toc468492635 h 7
HYPERLINK l “_Toc468492636” 3.1 Introduction PAGEREF _Toc468492636 h 7
HYPERLINK l “_Toc468492637” 3.2 Analytical Findings and Evaluation PAGEREF _Toc468492637 h 8
HYPERLINK l “_Toc468492638” 3.3 Economic Findings PAGEREF _Toc468492638 h 8
HYPERLINK l “_Toc468492639” 4.0 Recommendations PAGEREF _Toc468492639 h 9
HYPERLINK l “_Toc468492640” 4.1 Conclusion PAGEREF _Toc468492640 h 10
HYPERLINK l “_Toc468492641” 4.2 Closing Remarks PAGEREF _Toc468492641 h 10

List of Figures
Figure 1.1 Economic Contributors in the Country’s Index…………………………………… 9
Figure 1.2 Factors Contributing to Effective Communication………………………………… 10
Executive SummaryCommunication has been a fundamental tool in cooperating efficiency in organizations and ensuring proper decision making in the organization. The basis of discussion is to resolve better ideologies in an entity and to facilitate appropriate mechanisms in building a good reputation and customer satisfactions. Thus, the research at this moment tries to promote better service delivery through information analysis and standards formulations in communications.
The report, in this case, is to give a framework in the financial institution in ensuring better customer service and communication translation. The study basis is in the United Arab Emirates states with a different information conflict in the service industry. Several customers have posed a significant need to transform communication resolutions to enhance customer satisfaction. The study has further gone to the implementation plan in ensuring that the recommendations are set as stipulated in the strategies.
The study uses several scholars’ report in the industry, and through this research, communication factors have been the main idea in transforming better organizational performance. The report further gives a series of recommendations that are important in the financial sector and certain reforms that are critical to achieving high-performance standards in an organization.
Resolving Effective Communication in a Financial Institution:
A recommendation Report
1.0 Introduction1.1 Background of the StudyCommunication is a paramount instrument in facilitating the efficient flow of operations among the stakeholders of an organization. Moreover, the basis of the disclosure in an organization determines the decisions of an organization and the integration of activities between a financial year to the next. Therefore, the management usually plays a significant role in ensuring that the employees report effectively through using communication and delegating responsibilities. In several cases, communication may be altered affecting the general outlook of an organization (Hope, 2015). For instance, financial institutions have a range of activities in service provision to customer relation. All this information require proper channel of communication to prevent conflict in ideology transformation and delegation of responsibilities. Poor communication and integration of information could be a direct cause of confused duty allocation and low productivity in a firm. Thus, the appropriate mechanism in such adverse situation is to resolve communication standards to improve on the goals of an organization.
Moreover, to acquire effective communication in an organization, practical training on professional communication process is essential in facilitating overall management and decisions an organization. Furthermore, financial institutions provide financial advice to esteem customers, to investors, to other clients among other recognized services. It becomes necessary for an entity to translate all economic challenges and provide a possible mechanism that will assist its esteem customers depending on the level of clients’ needs. Besides, several persons usually go to their account to collect their money or deposit for future speculation. Nevertheless, other customers go to a financial institution for loans to facilitate their personal needs which will be returned in depository installments (Hope, 2015). However, most of the customers lack proper information concerning the procedures and the possible way to undertake these services. The customer services are the essential persons to channel the relevant information to the external individuals in an organization. The client service personnel, however, need a proper job description and access to all relevant information of the entity.
1.3 Problem StatementThis report intends to survey financial institutions in the Middle East Banks with the intention of finding the communication challenges in these organizations. Tellers have numerous time management problems on resolving queries to customers alongside providing a guideline to customers. Moreover, bank tellers have failed in communicating full information to the customers. It has led to the low productivity to financial institutions in the United Emirates States. Thus, this report will set appropriate mechanism to critically analyze this context with competent skills of facilitating the smooth communication within the organization and outside.
2.0 Literature Review
2.1 IntroductionCommunication process has several factors that will ensure active trend in financial services in the broad spectrum which are stipulated as follows;
First, it is important to engage in the managerial regulatory channel on information whereby the management should identify a channel of information to reach the esteem customers. Therefore, the customer service should take up most of the inquiries and settle them efficiently and create satisfaction to the customers. Nonetheless, through such, the client can communicate new services and offer to the customers through face-to-face engagement. Secondly, the organization should engage in social media information transmission as a flexible mechanism to reach the people at their comfort zone (Kurniali & Titan, 2015). It reduces the customer congestion in a bank hall searching for information from the employees. Thirdly, the management needs to generate external information outsourcing strategy to allow access to external information concerning the services provision (Alemu, 2012; Kurniali & Titan, 2015). The feedback of esteem customers is vital in tailoring the possible communication downfall.
Therefore, the implementation of this resolving process in communication challenge will facilitate professional services, and the organization will take up better decisions from information transformation. The financial institution will further focus on embracing technological efficiency in data transmission and collecting feedback alongside setting solution at a faster rate. The insight of this trend will establish an evolutionary process on the success of an organization and increase the productivity. Through these customer gains enough confidence in the financial institution for their advisory service among other inquiry. The communication further translates a real economy whereby the flow of money in the economy becomes easily seen and transforms the people and the living standards.
3. 0Methodology3.1 IntroductionThe report intention is to survey the overall view on communication process and its efficiency in financial institutions in the Middle East. The study involves secondary data analysis from several scholars in the study.
3.2 Analytical Findings and EvaluationAccording to the study by Cherif & Dreger, 44% of manufacturing industry contributes to the economy, 39% from the financial institutions and 17% from other sources (2016).
Figure 1.1 Economic Contributors in the Country’s Index

3.3 Economic FindingsIt is a clear indication that the banking service has a greater influence on the economy in the Middle East. However, many other elements need to be considered in improving the sector. Consequently, the study requires keeping establishment of better communication channeling to enable the growth of the industry. Communication, therefore, entails the full transformation of information in the sector through innovation and technological advancement. Further study indicates that the 61% of the esteemed customer believes in technology as the appropriate mechanism to transform communication and create satisfaction while 39% believe that employees transmit information efficiently. The study by Cherif & Dreger, firm has significantly recommended the technology to facilitate customer service online to customers at their comfort and prevent time inconvenience in the bank (2016). It shows that employees have little concern of information transmission to the esteemed clients. In this context, the organization needs to provide relevant training on the importance of communication to employees in establishing the relationship with the stakeholders.
Figure 1.2 Factors Contributing to Effective Communication

4.0 RecommendationsIn this aspect, people tend to rely on technology in accessing information rather than accessing information from employees. This indication would be as a result of inefficiency in prevailing relevant information to the people. It introduces the following recommendations of communications;
Better communication standards and channeling of information within and outside the Institution.
Improve the customer relationship satisfaction through face-to-face communication
Address possible innovation in technology to address other communication of information outside the bank hall
Facilitating integration of information within the organization from the employees to the top management
Ensuring fast feedback delivery to customers on inquiries
4.1 ConclusionIn conclusion, communication process has been an essential factor in transforming organization behavior and modeling. In the same context communication profoundly influence the relationship between employees and the customers (Alemu, 2012). Consequently, this alters the performance index of an organization which is attributed to the professional service delivery. On the adverse effect, the poor communication translates the company’s vision into the unachievable goal. The aspect of setting the mission and vision of an organization require the transformation of information into goals of an organization (Kirton, Larionova & Savona, 2011).
4.2 Closing RemarksThe financial institutions, therefore, has a significant spectrum in the economy which translates the country’s economic index and portrays relevant factors to achieve (Kirton, Larionova & Savona, 2011). The communication process moreover, applies to other sectors in achieving an integrated system of information from one organization to another. Therefore, regulatory standards by the government will enhance efficiency in supporting high performance across an entity.

References
Alemu, A. (2012). Factors Influencing Consumers’ Financial Transactions in Islamic Banks Compared with Conventional Banks: Empirical Evidence from Selected Middle-East Countries with a Dual Banking System. African And Asian Studies, 11(4), 444-465. http://dx.doi.org/10.1163/15692108-12341241
Cherif, M. & Dreger, C. (2016). Institutional Determinants of Financial Development in MENA countries. Review Of Development Economics, 20(3), 670-680. http://dx.doi.org/10.1111/rode.12192
Hope, J. (2015). Grow enrollment with excellent communication, customer service. Enrollment Management Report, 19(10), 12-12. http://dx.doi.org/10.1002/emt.30140
Kirton, J., Larionova, M., & Savona, P. (2011). Making global economic governance effective (1st ed.). Farnham, Surrey: Ashgate.
Kurniali, S. & Titan,. (2015). Customer Service Information System for a Call Center. Procedia Computer Science, 59, 298-304. http://dx.doi.org/10.1016/j.procs.2015.07.569