THE ROLE OF COMMUNICATION IN THE MANAGEMENT OF AN ENTERPRISE
The study was based on the role of communication in the management of an enterprise. The objectives of the study were to determine the most preferred communication means used at equity bank, to determine the importance of communication at equity bank, to find out factors affecting communication channels at equity bank and to determine challenges faced by equity bank in facilitating efficient communication mode. The study was limited to Equity Bank Eldoret branch only. The study adopted a case study as a research design. The researcher used questionnaires to collect data from a sample size of 40 respondents out of targeted population of 80 respondents. The researcher used a stratified sampling technique then followed by a simple random sampling to come up with the sample size. Data was then analyzed and presented using descriptive statistics including frequency tables, and percentages. From the findings the study established that communication has a greater importance in enhancing organizational growth it lead to better understanding in the bank, it improves efficiency, it also leads to effective coordination and avoid loses. However, the company’s greater challenges such as financial resources being insufficient, competition from other companies and poor management. To overcome all these challenges the company has to train its employees on communication skills and training of personnel should be put in place as part of the recommendation of the study. Finally the study suggested that further research should be conducted on the effects of multi directional communication on organizational development. Also study should be carried on the best communication type an organization can adopt to gain competitive advantage.
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