Excellence In Communication To Aid Service Delivery In Pension And Financial Industries

1727 words - 7 pages

‘Excellence in communication to aid service delivery in pension and financial industries’
Presented by Philip Eche, MBA, fnimn, mimc, mnim, fCIP
(Principal Partner, Focus Business Managers Ltd, Kaduna).

FOCUS

to The Certified Institute of Pensions of Nigeria (CIPN) at Compulsory Continuous Professional Education (CCPE) on April 15th, 2010

Lagos Venue.

Presentation Objective
To stimulate the attention of the participants to have the understanding and become conscious of the importance of excellent communication skills in bridging the gap between service delivery and promises.

Presentation Outline
Definition of Communication Types of communication Communication process ...view middle of the document...

Are transmitted, or sent as message to the receiver

Communication process cont’d
Sender: this is the source of message – that may be verbal, nonverbal or written. Decoder: this where ideas are translated into suitable words, charts or other symbols for transmission. Care must be taken at this stage to avoid misunderstanding. Channels: when a message is finally developed it will be transmitted by the channel chosen. At this stage, care must be taken to avoid barriers and interference otherwise the message will not be received properly. Encoding: this where ideas are interpreted exactly the way it is intended to achieve a meaningful information. Decoding can be affected by the receiver’s past experience, personal assessment and expectations. Receiver: this stage is for the receiver to use the communication effectively . He may ignore it, perform it, store the information provided or acknowledge.
The feedback process from the receiver to the sender in the cycle shows there is an effective two-way communication circuit.

What is excellent communication?
Excellent communication is the adoption of the ‘rule of five’ by the receiver to include;
Receive Understand Accept Use Feedback

Rule of Five

Excellent communication

Here the sender wants the receiver to receive, understand, accept, use the message and provides feedback.

Benefits of excellent communication
It is an essential tool to improve support from the customers and enhance their patronage for the services an organization provides. Employees will always know what their competitors are doing. Management having received inputs from the interface of the employees with customers will stand to give proper directives for better performance.

Barriers
Despite the importance and excellent communication process in an organization, the amount of time and resources spent to communicate, yet effective and productive communication have always been a challenging process to any organization.

Barriers cont’d
The difference between effective and ineffective communication can be traced to how well the communicating parties deal with the followings; Perception differences – background and experience of the parties.

Emotions – defensiveness, fear, embarrassment, love etc.
Inconsistencies between verbal and nonverbal communication e.g. body language, facial expression, eye movement, distance etc.

Prior trust (or distrust) between the parties. How credible is the sender or source of the message?

How can we improve on our communication ability?
Effective and excellent communication can be achieved by; Clarifying ideas right from the source. Considering the environment in which the communication occurs. Considering the emotional overtones as well as the message. Following up on the message. Being an excellent listener. Acknowledging the two-way street in communication by providing feedback.

Financial service, what is it?
Financial service comes under...

Other Papers Like Excellence In Communication To Aid Service Delivery In Pension And Financial Industries

Excellence In Patient Care Depends Upon: The Application Of Sound Ethical Principles, Good Communication And The Understanding, Participation In And Utilisation Of Research Findings

2674 words - 11 pages character of the provider. To provide excellence in patient care depends upon: the application of sound ethical principles, good communication and the understanding of, participation in and utilisation of research findings. These are the main attributes but there are many other factors that go into making a service, which gives the patients the best possible care therefore aiding in a successful treatment and full recovery.Ethical principles are

Making Excellence Inclusive in Education Essay

1175 words - 5 pages Making Excellence Inclusive In Education Student’s Name Institution Abstract This research paper is on cultural diversity and particularly intercultural maturity (Tierney, 2007). The point of discussion zeros into education practices that are being adopted to enhance intercultural maturity and intercultural competence in the current education systems (King & Baxter, 2005). This study also gives an overview of how to make the

Assignment 203 Client Care and Communications in Beauty Related Industries

1063 words - 5 pages Assignment 203 Client care and communication In beauty related industries Contents Task 1: Produce a fact sheet page Bibliography page Task 1: Produce a fact sheet The importance of; * Using effective communication to identify client needs and expectations It is important to listen inventively to

Reporting of Pension Plan in Acquisition of Company Abc

1115 words - 5 pages plans, savings plans, 401(k) plans, profit-sharing plans, and incentive savings plans. Because of its simplicity in reporting, the defined contribution plan periodic pension expense is equal to the amount of the annual contribution. Schroeder, Clark and Cathey (2011) state “when a company adopts a defined contribution pension plan, the employer’s financial statements should disclose the existence of the plan, the employee groups covered, the basis

Analyzing Managerial Decisions: Setting Tuition And Financial Aid

898 words - 4 pages percentage change in the demand for a good or service, given a percentage change in income (Brickley, Smith, & Zimmerman, 2009); therefore, if the school offers need and merit based incentives such as financial aid, students are more likely to consider enrolling in the college. Remember, demand responds to change in other variables (Brickley, Smith, & Zimmerman, 2009). Ursinus College raised its tuition and fees 17.6 percent to increase revenue

Communication and Personality in Negotiation

1215 words - 5 pages Communication and Personality in Negotiation Long Vang University of Phoenix MGT/445 Successfully to negotiate with a purchase In 2006, I did careful research regarding the value of the vehicle and did an online search for used cars that would be fit into my budget. Before arriving at the dealership, I prepared a list of what features of the vehicles I was looking for. So this was my second time of purchase a car, I did not sure what

How Did Airmail Delivery Help Formulate and Develop Commercial Aviation in the U.S

2087 words - 9 pages after the war. Having surplus in planes led to a decline in its market and industry as well. Production industries for aircraft were shut down, and the evolution of aircraft to better and bigger was no more. Airmail In the year 1917 there was the was the birth of a new transport line of mail by plane. The government saw the opportunity, as planes were better developed than ever. The first airmail service was introduced in 1917 between

In What Ways May Disagreement Aid the Pursuit of Knowledge in the Natural and Human Sciences?

1616 words - 7 pages response and cultural background to be a perfect indicator of development. The second perspective believes that disagreement does not aid the pursuit of knowledge. The issues within this perspective specifically deal with evidence or the lack thereof. Denial of evidence is a form of disagreement, just that this form lacks any substance. Denying evidence may show one’s personal beliefs, but it does not allow knowledge to be further uncovered. In the

Service in Area

1035 words - 5 pages running head: SERVICE IN YOUR AREA Service in your area Justin Armstrong Dr. Biswajit Panja CIS 505 February 26, 2012 Objectives Research DSL and cable modem services available closest to your community. You may use neighboring communities or regions if your community does not have access to DSL or cable modem services. Researched material must be focused on the technical aspects of DSL and cable modem services. Marketed documents

Fostering Service in Kent

2939 words - 12 pages types of abuse, an American study found that poverty and financial problems can lead to child neglect, regardless of the quality of parenting, for example financial strain in a relationship can lead to arguments or violence.(Shook Slack et al., 2004 cited in An Introduction to Early Childhood Studies). Poor people will normally live in areas where the crime rate is high. Foster placement will offer stability and nurturing, and such family

The Effects of War and Peace on Foreign Aid in Somalia

1280 words - 6 pages acted to save resources and time. It was used in searching for a missing person and doing a survey of a scene. Biometrics technologies This is the technology which used the physical features or behavior of a person to identify it. The methods used included identification of fingerprints, face, voice, iris, signature and handwritings to detect the criminals. Body Armor This was used to protect a criminal investigation officer or police

Related Essays

Activity Based Costing In Service Industries

1708 words - 7 pages Activity-Based Costing in Service Industries ACC 560 Strayer University April 21, 2016 Amanda Bryan Activity-based costing is the method of accounting which analyzes and identifies all of the activities performed on a product during production. It then assigns an indirect cost to the product with avoidance of direct cost to the activity. This accounting method helps allocate the cost of the product to the less arbitrarily in values as

Application Of 7ps In Western Union Money Transfer & Service Creation And Delivery

2408 words - 10 pages . Slogan: The fastest way to send and received money worldwide. Industry: Financial services Founded: 1851 Founder: Ezra Cornell Headquarter: Englewood, Colorado Application of 7ps in Western Union Money Transfer & Service Creation and Delivery 01. Product Product is deep core heart of an organization. Success of an organization depends on the quality of a product. In case of service product is invisible. Service product lies at the

Computer Aid Communication In Small Business In China

3017 words - 13 pages , efficiency of the company and reduce the production cost. The computer-aided communication can certainly help to improve the efficiency of communication within and with other companies. The using of QQ as main computer-aided communication tool in the small-middle manufacture business is due to size and financial situation of these companies. Because QQ is a cost-free software with a wide range of users, the companies can save a lot from buying the

Voluntary Pension Schemes In Pakistan Essay

2274 words - 10 pages dependent on the length of service or any other condition of employment. In addition, VPS is portable. In other words, the individual’s account will stay with the investor even if he or she changes jobs. Contribution can be resumed at any time either through the new employer or based on personal contribution. The investor can also transfer the account to and from another Pension Fund Manager without bearing any cost. An important feature of VPS is