Chapter One: Introduction
1.1 Background of the Study
In the banking sector, effective communication with stakeholders—such as customers, employees, shareholders, regulators, and the general public—is crucial to the success and sustainability of financial institutions. Lokoja Local Government Area, Kogi State, is home to several banking branches that serve both urban and rural populations. The role of corporate communication in fostering stakeholder engagement in these institutions is vital for ensuring customer satisfaction, employee morale, and regulatory compliance. This study aims to investigate how banks in Lokoja utilize corporate communication strategies to engage their stakeholders, improve service delivery, and maintain a positive corporate image.
1.2 Statement of the Problem
Despite the importance of effective corporate communication in the banking sector, many institutions in Lokoja face challenges in engaging their diverse stakeholders due to communication gaps, lack of personalized engagement strategies, and inadequate response systems. This study seeks to explore how these banks address these challenges and evaluate the effectiveness of their corporate communication strategies in building strong relationships with stakeholders.
1.3 Objectives of the Study
1.4 Research Questions
1.5 Research Hypothesis
1.6 Significance of the Study
This study will contribute to the body of knowledge on corporate communication in the banking sector, specifically in Lokoja. The findings will help banking institutions understand the importance of stakeholder engagement and how to improve their communication strategies to enhance their reputation, customer loyalty, and overall performance.
1.7 Scope and Limitations of the Study
The study will focus on banks operating within Lokoja Local Government Area, Kogi State. It will not extend to other sectors or geographic regions and will specifically concentrate on stakeholder engagement in the context of banking operations.
1.8 Operational Definition of Terms
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Chapter One: Introduction
1.1 Background of the Study
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