Strategy Communication Effectiveness in South African Banks
From strategy formulation to execution: Communication using the face-to-face medium
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In the business environment of South African banking industry, informed and committed employees are a source of competitive advantage. More than ever before, organisations' strategies need to be effectively communicated, understood at all levels, and effectively implemented. The factors responsible for the effective communication of strategy between the head office and the network of a South African banking organization, using the face-to-face medium are: 1. Interpersonal Communication; 2. Change and Improvement; 3. Employee Involvement in Strategy Formulation; 4. Stability; and 5. Vertical Co...
In the business environment of South African banking industry, informed and committed employees are a source of competitive advantage. More than ever before, organisations' strategies need to be effectively communicated, understood at all levels, and effectively implemented. The factors responsible for the effective communication of strategy between the head office and the network of a South African banking organization, using the face-to-face medium are: 1. Interpersonal Communication; 2. Change and Improvement; 3. Employee Involvement in Strategy Formulation; 4. Stability; and 5. Vertical Communication. Of these five factors, the first three are deemed significantly important to strategy communication effectiveness and factors one and five are specifically important to effective strategy communication through the use of the face-to-face medium. The research confirmed the importance of the involvement of all levels of managers in strategy formulation and the predominant use of the face-to- face medium for effective strategy communication.
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