IMPACT ASSESSMENT OF ECOBANK PUBLIC RELATIONS PRACTICE ON ITS CORPORATE PERFORMANCE IN UYO METROPOLIS
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
The purpose of this study was to understand how public relations practices help in establishing two-way communication seeking common ground or areas of mutual interest and to establish understanding based on truth, knowledge and full information in a corporate organisation. It is necessary to trace the historical background of the bank under study which is Eco Bank Plc, Uyo metropolis as well as the background of public relations practices. According to Cutlip and Broom Public Relations is a planned effort to influence opinion through socially responsible performance based on two-way communication.
The public relations authority encompasses the performance and communication used to build profitable relations with the public. Cutlip and Broom (2001) maintain that the public relations are management. Function employed to win and retain understanding, sympathy and support of those with whom they are or may be concerned.
According to Cornelissen, J. (2004) corporate organizations defined public relations as the deliberate planned and sustained effort to establish and maintain mutual understanding between an organization and it public. Public relations news defined public relations as the management function which evaluates public attitudes identifies the policies and procedures of an organization or an individual with the public interest and execute programme of action to earn public acceptance and understanding.
Bryer (2002) assert that public opinion is congeners, beliefs, finances, prejudice and aspiration it is confused amorphous and varying but in the midst of the diversity and confusion every question as it arise into important is the subjected to a process of consolidation. Public relations practice in Nigeria was introduce from Britain through the vehicle a colonialism, the introduction of public relations practices in Nigeria was done through the initiative of the colonial government and its obedient servants. Being an abject of journalism public relations became an important element in public communication in the colonial days.
According to Black (2000) remarked that the focus on relationship broadens the perspectives used to formulate public relations strategies and tactics but also by definition requires greater involvement from organizations. This is not as simple as it sounds involvement means genuine dialogue which the public relations practitioner carry out with the internal and the external publics for mutual understanding within the corporate organization. The pioneers were non-native many of the existing newspaper were already enjoying patronage of the people and those in the government. The governments tell the need for another branch of communication which would convey subtly its feelings to the people without really going through the rigors of mental communication acts. The government got involve in public relations during World War 1 when President Woodrew Wilson set up the creel committee (named for its chair journals George creel) creel enlisted the top figure in the public relations field to amount the campaign that persuaded newspaper and magazines to donate space for advertisement that urge the Americans to save food and to buy war bonds, creel advise Wilson on communication strategies and was instrumental in publicizing Wilson’s war goal to make the world safe from democracy.
The work of the creel committee was significant because it demonstrated the power of a well planned and well execute public relations campaign. In addition, it helps legitimize the public relations following World War 1 more public relations pioneers, Bernays appeal on the scene. Bernays credited with writing the first book on public relations, crystallizing public opinion published in 1923. In 1930, Byoir organize a public relations firm that became one of the world’s highest industry which public relations practice are perform on a daily basis of life.
During the second war (1939-45) the government urge for more channel of communication which became more pronounced, especially the need to present and analyze information about the war. This eventually led the government to establish an office of information where correct information about the war effort was sent out to people through the wireless and electromagnetic spectrum. This was in January 1, 1944 late in 1944, this information office was changed to public relations office to really make its functions strictly tailored towards image making and creating favourable impression about the war itself.
The public relations office began to play a significant role in Nigeria press and their customers tremendously. It placed its information facilities at their disposal and provided them with photograph on the prosecution of the war. Two Nigeria newspapers, the West African pilot and daily service wrote edition on this development calling for the setting up of a permanent public relations office as early as the early forties. It was the public relations outfit set up by the colonial government that metamorphosed into federal information service in 1950. In 1963, the Nigerian Institute of Public Relations (NIPR) was established as a regulatory body for public relations practice in Nigeria.
1.1.1 Background of Ecobank Plc, Uyo Metropolis
Ecobank Plc, Uyo commonly referred to as Eco bank Nigeria is a commercial bank in Nigeria; it is one of the commercial bank licenses by the Central Bank of Nigeria. The Eco bank Plc began operations in 1986, it operate as a universal bank providing wholesale, retail, corporate investment and transaction banking service to its customer in Nigerian market. The bank divides its operations retail banking, wholesale banking and treasure and financial institutions.
The bank also offers capital market and investment banking service. During the fourth quarter of 2011 Ecobank Plc, Uyo acquire 100% of the shareholding in oceanic Bank, creating the expanded Eco bank Plc, as of December 2011. The expanded Eco bank Nigeria Plc, controlled totally asset value at approximately N558.1 billion (NGN: 1.32 trillion) making it one of the five largest bank in Nigeria.
Ecobank Transactional Incorporate (ETI) a public limited liability company was established as a bank holding company in 1985 under a private sector initiative spearheaded by the federation of West African chambers of commerce and industry with the support of ECOWAS.
The dual objective of (ETI) is to build a world class Pan African bank and to contribute to the economic and financial integration and development of the African continent. Today with over 610 free standing branches of Ecobank Nigeria is the second largest bank in the country by branch networks.
Public relations practitioner emphasis a lot on the performance and size of the evaluation of the employee performance by measuring and reporting the employee’s behavioural pattern with the employer and the customer who patronize corporate organization. The public relations practice seek on how they can improve more job performance on the employee’s which will help the banking sector to improve in the economy development in which is and aim of establishment.
In facts the responsibility of the public relations is to protect the image of the organization to the general public. The public relations practice where meant to protect the image of Ecobank, plan and execute all approved public relations programme for the bank such programme include;
- To ensuring effective flow of information and promote the organization objectives.
- To enhancing goodwill between Ecobank Nigeria Plc in Uyo and it publics through distribution of corporate gift.
- Organizing workshop, seminars and facility visit of the employee.
1.2 Statement of the Problem
The corporate bodies have been embarking on public relations to create awareness and maintain mutual understanding with their publics. Ecobank Nigeria Plc in Uyo Metropolis, like other organizations have been involved PR activities so the question sough to address in this study was: How does the Uyo Public assess the Public Relations Activities of Ecobank Nigeria Plc?
1.3 Objectives of the Study
The objective of the study is to:
- know how public relations helps in creating and maintain mutual understanding between corporate organization and public.
- find out whether public relations is expensive or not.
- know whether corporate organization should continue in public relations.
- determine whether public relations can attract new customers to the bank.
1.4 Research Questions
- Has the public relations of Ecobank Nigeria Plc in Uyo Metropolis have been able to create and secure understanding on the part of the public in order to patronize the bank?
