I work with the Standard Chartered bank as a manager and my organization is highly professional in using communication as a means to communicate all plans and decisions to ensure that all functions are performed in the most efficient manner to avoid mistakes and confusion in taking decisions. All communications are sent individually to concerned managers who are in turn expected to use the information and pass on the same to all concerned amongst the work force to execute the instructions. In banks it is very important to take action on given instructions immediately since everything has to be executed within the given time frame. There is a parallel system of the communication taking place through the grapevine in regard to personal matters of executive and assistants and subordinate staff. But overall the communication is very effective in that all concerned understand their responsibilities in acting on the instructions within the given time schedule.
The biggest strength of the organization in regard to communication is the inherent system which is strongly ingrained in having built a high level of confidence that results in punctuality and reliability in the sources of information emanating through the official channels. The source of the information is well respected and is well communicated through the most appropriate channels so that it is understood in the true spirit of a well decoded message. In acting on the communications by the managers and staff, the management receives feedback by way of the completed work thus implying that all the communication is effective in sending the required messages to all concerned. This way the work of the organization goes on effectively and unhindered in most cases. A major weakness observed in the current system is the lack of personal touch since all communication is directed in a way that they appear to be stereotyped. Meaningful communication is often associated with personal exchange of views that often are better understood, but in a bank, information that has to be acted upon has to come from the appropriate channels. Hence most staff members are unaware about the purpose of the communication except that they have to be just acted upon it.
The management of my organization contributes a great deal for effective communication since the communication process is perfect by way of the source of information coming from the designated authority and is well presented in the context of the subjects towards whom it is directed, and all communication channels are very well defined with no scope of confusion. The messages are drafted in a way that the executives and staff are able to easily decode them in understanding the work to be carried out and the results have to be achieved as required otherwise there would be a chain reaction in adversely affecting the banking operations. The quality of the work accomplished is in itself an excellent feedback in regard to the quality of communication used by the management. Having received communication from the management in regard to performing certain functions, the managers and executives have to exercise their authority down the line by using formal and informal ways of communication, and in most cases it is a combination of both because under such circumstances managers can be effective to a great extent by dealing with their subordinates in an informal atmosphere.
Often there are changes in the way marketing agents have to deal with clients in mobilizing deposit and debt instruments which are heavily dependent on the rate of return offered by the bank. The management mostly communicates the change in rate of interests through the official channels by way of mails or through written communications to managers. In turn managers have to communicate directly with the marketing agents and motivate them by conveying the extra advantages for investors if they invest in the instruments with the new offer of interest rates. The agents are able to clarify all doubts and can then confidently canvass for the deposits and other instruments with clients without any hurdles.
References
Davis Foulger, Models of the Communication Process, 2004, Evolutionary Media