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The relationship between corporate communication efforts, client communication satisfaction and –relationship satisfaction, and client economic contribution within a financial services organisation / K. le RouxLe Roux, Karle January 2011 (has links)
After facing the economic recession, the South–African and global business sectors started
revaluating their human capital and the positions they represent within an organisation. Each
individual now had to prove that they contributed towards the organisation’s bottom line, as each
and every cent had to be counted and accounted for. Some functions within organisations could
easily prove their contribution towards the bottom line by providing production or sales outputs.
The public relations practitioners and the corporate communication efforts they offered, however,
faced a bleak future, as their contribution towards the tangible assets was very rarely recognised
(Kim, 2000:276).
The financial services sector however, in which an advisor’s contribution towards the
organisational bottom line is easily quantified, started to acknowledge the need for this sector to
improve upon its ‘softer’ intangible assets such as client communication and client relationships.
The sector believes that communication establishes relationships, and sound client relationships
is the only way to sell financial products and services, as people seldom entrust their life earnings
or financial dreams to strangers (Christiansen & DeVaney, 1998:7).
Public relations practitioners know how to use communication optimally in the quest for building
client relationships, and financial services need those skills in order to sell their products and
contribute towards the bottom line. These two functions could thus work together towards the
achievement of their goals - public relations to prove their bottom line contribution, and the
financial services sector towards improving client relationships.
These statements led to the general Research Question of this study: “What is the nature of the
relationship between (i) corporate communication efforts, (ii) client communication
satisfaction and (iii) client relationship satisfaction, and these concepts’ relationship to
(iv) client economic contribution, within a financial services organisation?”
This Research Question is answered from the systems theory as meta–theory with the support of
the strategic communication, excellence and relationship management theories, and Futurum
Financial Group (FFG) services as the financial services organisation for this study.
A qualitative and quantitative research approach was followed to establish the constructs, and the
relationships between the constructs.
The Financial Advisors and public relations practitioner in FFG have a good understanding of the
need for strategic communication efforts, and a relationship between their efforts and the client communication satisfaction and client relationship satisfaction could therefore be indicated. A
further relationship between the client communication satisfaction and client relationship
satisfaction and the client economic contribution was also established.
Recommendations to improve the situation within FFG included a better focus on database
administration, corporate communication consistency, Financial Advisor diligence, and providing
clients with more frequent updates regarding their financial situation. The greatest strengths were
client–advisor trust and corporate communication professionalism.
This study thus contributes to the argument that communication efforts add tangibly, by means of
client economic contribution, to the organisation’s bottom line, within the financial services
industry. The study furthermore provides some recommendations for the financial services
industry to improve their communication skills in order to build client relationships. / Thesis (M.A. (Communication Studies))--North-West University, Potchefstroom Campus, 2011.
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The relationship between corporate communication efforts, client communication satisfaction and –relationship satisfaction, and client economic contribution within a financial services organisation / K. le RouxLe Roux, Karle January 2011 (has links)
After facing the economic recession, the South–African and global business sectors started
revaluating their human capital and the positions they represent within an organisation. Each
individual now had to prove that they contributed towards the organisation’s bottom line, as each
and every cent had to be counted and accounted for. Some functions within organisations could
easily prove their contribution towards the bottom line by providing production or sales outputs.
The public relations practitioners and the corporate communication efforts they offered, however,
faced a bleak future, as their contribution towards the tangible assets was very rarely recognised
(Kim, 2000:276).
The financial services sector however, in which an advisor’s contribution towards the
organisational bottom line is easily quantified, started to acknowledge the need for this sector to
improve upon its ‘softer’ intangible assets such as client communication and client relationships.
The sector believes that communication establishes relationships, and sound client relationships
is the only way to sell financial products and services, as people seldom entrust their life earnings
or financial dreams to strangers (Christiansen & DeVaney, 1998:7).
Public relations practitioners know how to use communication optimally in the quest for building
client relationships, and financial services need those skills in order to sell their products and
contribute towards the bottom line. These two functions could thus work together towards the
achievement of their goals - public relations to prove their bottom line contribution, and the
financial services sector towards improving client relationships.
These statements led to the general Research Question of this study: “What is the nature of the
relationship between (i) corporate communication efforts, (ii) client communication
satisfaction and (iii) client relationship satisfaction, and these concepts’ relationship to
(iv) client economic contribution, within a financial services organisation?”
This Research Question is answered from the systems theory as meta–theory with the support of
the strategic communication, excellence and relationship management theories, and Futurum
Financial Group (FFG) services as the financial services organisation for this study.
A qualitative and quantitative research approach was followed to establish the constructs, and the
relationships between the constructs.
The Financial Advisors and public relations practitioner in FFG have a good understanding of the
need for strategic communication efforts, and a relationship between their efforts and the client communication satisfaction and client relationship satisfaction could therefore be indicated. A
further relationship between the client communication satisfaction and client relationship
satisfaction and the client economic contribution was also established.
Recommendations to improve the situation within FFG included a better focus on database
administration, corporate communication consistency, Financial Advisor diligence, and providing
clients with more frequent updates regarding their financial situation. The greatest strengths were
client–advisor trust and corporate communication professionalism.
This study thus contributes to the argument that communication efforts add tangibly, by means of
client economic contribution, to the organisation’s bottom line, within the financial services
industry. The study furthermore provides some recommendations for the financial services
industry to improve their communication skills in order to build client relationships. / Thesis (M.A. (Communication Studies))--North-West University, Potchefstroom Campus, 2011.
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'n Waarderingsperspektief op ouer persone se belewing van verhoudings in 'n ekonomies minderbevoorregte residensiële sorgfasiliteitDu Toit, Francois Jacobus January 2012 (has links)
Older people often experience loneliness and depression, especially those dependent on institutional care. The loneliness can be attributed to multiple losses such as the loss of physical and cognitive abilities, the loss of relationships with familiar environments, the loss of significant others, as well as changing contact with family members and friends. The strategy commonly used by older people to deal with such feelings of loss, is to reminisce on such losses as well as on the lost or altered relationships. This strategy might result in a situation where the focus older people have on the past prevents them from recognizing the potential of relationships in their immediate environment.
In order to make older people more aware of meaningful relationships in their immediate environment, the method of appreciative inquiry was used. Appreciative inquiry uses questioning as an intervention. Questions were formulated in such a way that the positive aspects of possible relationships in interpersonal environments were emphasised. The aim of the appreciative inquiry was to determine what relationship qualities older people experience as meaningful or effective.
A qualitative and investigative research method was used in an attempt to investigate older people's subjective experiences of the relationships they have in the residential care facility. Participants to the study were volunteers who permanently reside in a residential care facility for older people in Gauteng, South Africa.
Textual- and visual data was collected through the use of the World Café method, where the participants were divided into three separate groups of approximately six members each. Group discussions were facilitated as group leaders alternated with various activities between the groups. Sheets of A2 paper served as tablecloths allowing participants to conveniently jot down notes from the group discussion, and also to draw symbolic representations of their subjective experiences of the relationships they enjoy in their immediate environment. Data gathered in the various groups was then visually displayed so that a focus group discussion could occur.
Crystallization confirmed the trustworthiness of the findings. Crystallization is an approach where data is combined using two or more genres of representation of socially constructed meanings as well as different methods of data analysis. In this study, several different data collection methods were used, including the use of symbols, group discussions and a focus group. The data analysis comprised of a combination of several methods of analysis, being thematic analysis, interactive pattern analysis and the visual analysis of posters. Approval pertaining to the ethical aspects of the research project was obtained from the North-West University.
From the findings it became apparent that essential relationship qualities such as confirmation, empathy, unconditional acceptance and clarity of self-presentation between the residents spontaneously developed out of the safe and enabling interpersonal environment created by the management. This safe and enabling interpersonal environment is characterized by predictability, interpersonal flexibility, confirmation, congruence and empathy.
According to this research, it can be argued that residents in this specific care facility were still able to identify and describe relationships that could effectively satisfy their needs – despite having experienced multiple losses associated with the aging process and/or losses in their particular lives.
This study hence holds important implications for the creation of an interpersonal context by management in order to promote wellbeing among older people that reside in residential care facilities. / Thesis (MA (Clinical Psychology))--North-West University, Potchefstroom Campus, 2013.
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'n Waarderingsperspektief op ouer persone se belewing van verhoudings in 'n ekonomies minderbevoorregte residensiële sorgfasiliteitDu Toit, Francois Jacobus January 2012 (has links)
Older people often experience loneliness and depression, especially those dependent on institutional care. The loneliness can be attributed to multiple losses such as the loss of physical and cognitive abilities, the loss of relationships with familiar environments, the loss of significant others, as well as changing contact with family members and friends. The strategy commonly used by older people to deal with such feelings of loss, is to reminisce on such losses as well as on the lost or altered relationships. This strategy might result in a situation where the focus older people have on the past prevents them from recognizing the potential of relationships in their immediate environment.
In order to make older people more aware of meaningful relationships in their immediate environment, the method of appreciative inquiry was used. Appreciative inquiry uses questioning as an intervention. Questions were formulated in such a way that the positive aspects of possible relationships in interpersonal environments were emphasised. The aim of the appreciative inquiry was to determine what relationship qualities older people experience as meaningful or effective.
A qualitative and investigative research method was used in an attempt to investigate older people's subjective experiences of the relationships they have in the residential care facility. Participants to the study were volunteers who permanently reside in a residential care facility for older people in Gauteng, South Africa.
Textual- and visual data was collected through the use of the World Café method, where the participants were divided into three separate groups of approximately six members each. Group discussions were facilitated as group leaders alternated with various activities between the groups. Sheets of A2 paper served as tablecloths allowing participants to conveniently jot down notes from the group discussion, and also to draw symbolic representations of their subjective experiences of the relationships they enjoy in their immediate environment. Data gathered in the various groups was then visually displayed so that a focus group discussion could occur.
Crystallization confirmed the trustworthiness of the findings. Crystallization is an approach where data is combined using two or more genres of representation of socially constructed meanings as well as different methods of data analysis. In this study, several different data collection methods were used, including the use of symbols, group discussions and a focus group. The data analysis comprised of a combination of several methods of analysis, being thematic analysis, interactive pattern analysis and the visual analysis of posters. Approval pertaining to the ethical aspects of the research project was obtained from the North-West University.
From the findings it became apparent that essential relationship qualities such as confirmation, empathy, unconditional acceptance and clarity of self-presentation between the residents spontaneously developed out of the safe and enabling interpersonal environment created by the management. This safe and enabling interpersonal environment is characterized by predictability, interpersonal flexibility, confirmation, congruence and empathy.
According to this research, it can be argued that residents in this specific care facility were still able to identify and describe relationships that could effectively satisfy their needs – despite having experienced multiple losses associated with the aging process and/or losses in their particular lives.
This study hence holds important implications for the creation of an interpersonal context by management in order to promote wellbeing among older people that reside in residential care facilities. / Thesis (MA (Clinical Psychology))--North-West University, Potchefstroom Campus, 2013.
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