Communication Structure of Standard Chartered Bank

A idea knuckle underted to the Department of English in part-fulfillment of the requirements of the Final Examinations in affair Communications, Fall 2008 Prep bed and submitted by SUNSHINE Section c Tazrin Mst. Nazia Zohora Fatema tuz Islam Md. Atikul Miah Abu Kausar curriculum teacher Professor Faizur Rashed Gullu Date of submission 4 declination 2008 atomic number 7 Global University of capital of Bangladesh rogue 1 of 25 4 December 2008 Prof.Faizur Rashed Gullu Course Instructor Business Communication North Global University of Dhaka Subject Submission of our report Dear sir, We realize the pleasure to submit our report titled Communication social organisation of well-worn undertake lingo. This was a good luck for us to understand and deal with the problem. The subject was aimed at enjoying the talk grammatical construction of quantity contract cashbox. If whatsoever lacking(p) is found, the organisation give be subject to improve performance. The makeic go away find a chance to bed the transcription of the organization and its communion system which depart increase our experience and experience.They have actually in effect(p) dis caterpillar track system. By removing the chat barriers in the midst of higher direct managers and lower take aim managers they can do it better. We once again thank you for giving us the chance to do the report. Yours sincerely, Zohora Fatema tuz 08-10489-1 Tazrin Mst. Nazia 07-08937-2 Islam Md. Atikul 07-09137-2 Miah Abu Kausar 07-08446-2 scallywag 2 of 25 Pre exhibit This report is made based on the chat structure of Standard Chartered commit. Based on expression report card of close to put onees of Standard Chartered Bank, the report was made.This report contains the converse structure of Standard Chartered Bank. It also has some suggestions for the Standard Chartered Bank to farm their conversation handle to a greater extent effective and to make their organizations performanc e better. This report has some concept of communicating, the border of communication, communication channel, flock communication, communication barriers, altogether, the concept of organizational communication. And the implications of them in The Standard Chartered Bank that if they argon ingestion them rightly and what should be d bingle if they argon non using them properly summon 3 of 25 Ac friendshipment At first, we take the opport totaly to thank The Almighty. Then we express our thanks to our department and authorities for granting us such opport unity in this aim. We ar really pleased to turn over the assigned task apt(p) by our revered course instructor Prof. Faizur Rashed Gullu sir. While completing this report we locutiond different problems such as shortage of time, nurture, convincing the employees of the depone etc. But we have been up to(p) to overcome the problems with direct and indirect assistance from our course instructor. We argon rattling tha nkful to him.Above all, we have to thank the people at the bank who provided us with valuable breeding, gave us their valuable time and servicinged us in each way realistic. Finally, we ar pleased to complete the report on the given subject properly and authentically. Page 4 of 25 TABLE OF circumscribe Forwarding garner Preface Ac write outledgement Table of contents advert of illustrations Abstract 1. 0 Introduction 1. 1 1. 2 1. 3 1. 4 1. 5 1. 6 1. 7 1. 8 What is communication The process of communication Necessity of communication Barriers of communication Introduction of the organization Objectives Scope interrogation methodology 1. . 1 Sample 1. 8. 2 case ask 1. 9 Limitations Page no. i ii iii iv v vi 01 01 02 08 08 09 10 11 11 12 13 13 14 14 14 15 16 17 18 19 vii 2. 0 Organization of the report 2. 1 mooring studies Case prove 1 Case study 2 Case study 3 Findings 2. 2 3. 0 Conclusion 4. 0 good word Bibliography Page 5 of 25 List of illustrations manakin 1. 1 The raw material communication process Figure 1. 2 Flow of communication theory Page-4 Page-6 Page 6 of 25 Abstract The transport and misgiving of significance is communication. No radicals can last with pop communication the transference of meaning among its parts.It is completely with transmitting meaning from one person to some other that study that information and ideas can be conveyed. The key separate of the communication process be (1) the sender (2) encoding (3) the channel (4) decipherment (5) the receiver (6) feedback. There are three types of communication upward, downward, lateral. The study was aimed to hump the communication structure of Standard Chartered Bank. If whatsoever lacking is found, the organization will be able to improve performance. The study will find a chance to know the system of the organization and its communication system which will increase our knowledge and experience.The study has been through with the method case study. The study was done with the support of random sampling. The sample size of the study was 3. Their communication tendency is rattling rich. They have really effective communication system. By removing the communication barriers between higher take managers and lower train managers they can do it better. They should enrich their formal communication system. We think that after doing these things they will be improved. Page 7 of 25 1. 0 Chapter 1 Introduction 1. 1 What is communication? The transference and understanding of meaning is communication. Communication is more(prenominal) than merely give meaning.It must also be still. In a group in which one fragment speaks just German and another one do not know German, the individual speaking German will not be fully understood. Therefore must include twain the transference and understanding of meaning. research indicates that poor communication is probably the most a great deal cited source of interpersonal conflict. Because individuals spend aroundly 70 percent of their go hours communicating- indite, reading, speaking, listening-it seems reasonable to conclude that one of the most inhibiting forces to triple-crown group performance is a lack of effective communication.No groups can exist withtaboo communication the transference of meaning among its members. It is only through transmitting meaning from one person to another that information that information and ideas can be conveyed. Communication, however, is more than merely imparting meaning. It must also be understood. In a group in which one member speaks only German and the others do not know German, the individual speaking German will not be fully understood. Therefore, communication must include both the transference and the understanding of meaning.An idea, no matter how great, is useless until it is transmitted and understood by others. Perfect communication, if thither were such a thing, would exist when a thought or an idea was transmitted so that the mental ikon perceived by the receiver was exactly the aforementioned(prenominal) as that picture by the sender. Page 8 of 25 Communication serves four major(ip) functions within a group or organization control, motivation, emotional expression, and information. 1. catch member behavior. 2. Foster motivation for what is to be done. 3. Provide a pink slip for emotional expression. 4. Provide information needed to make decisions. . 2 The process of communication Before making too many generalizations concerning communication and problems in communicating effectively, it is needed to know the direct of communication and communication process 1. 2. 1 Levels of Communication Intrapersonal exit level counselling mainly takes inwrought decision, so internal decision depends on them on many sectors social Middle level managers are sometimes allowed to make some effective organizational decision Extra personal Communication between merciful & nonhuman being Organizational I n organization higher level employees take decision.In this bank most of the decisions are taken by top level management Formal Language Those languages which are used in spite of appearance office. In this bank they usually use to talk one another they simply use brother or sister. Cross-cultural In a cross-culture there are devil divisions high and low context Page 9 of 25 Mass Print Media Electronics Media Organizational Website Before communication can take place, a purpose, expressed as a gist to be conveyed, is needed. It passes between a sender and a receiver. The pass is encoded and passed by a way of some long suit to the receiver, who decodes the message initiated by the sender.The publication is transference of meaning from one person to another person. The key parts of the communication process are (1) the sender (2) encoding (3) the channel (4) decoding (5) the receiver (6) feedback. The sender initiates a message by encoding a thought. The message is the actua l physical product from the senders encoding. When we speak, the speech is the message. When we write, the writing is the message. When we inter snuff it the movement of our arms and the expression of our face are the message. The channel is the medium through which the message travels.It is selected by the sender, who must determine whether to use a formal or easy channel. Formal channel are conventional by the organization and transmit message that are related to the brag activities of members. Other forms of message, such as personal or social, follow the informal channel in the organization. These informal channels are spontaneous and publish as a response to individual choices. The receiver is the object to whom the message is directed. But before the message is received, the symbol in it must be translated into a form that can be understood by the receiver.The bar is the decoding of the message. Noises represent communication barriers that gouge the clarity of the messa ge. Examples of possible resound sources include perceptual problems, information clog up, semantic difficulties, or cultural difference. The final examination link in the communication process is a feedback loop. Feedback is the check on how winnerful we have been in transferring our message as original intended. It determines whether understanding has been achieved. Page 10 of 25 The communication process model Figure 1. 1 The basic communication process Communication can persist vertically or laterally.The vertical dimension can be elevate divided into downward and upward directions. 1. 2. 2 Downward communication stop number level managers are friendly communal to the down level employees. Top level management nowadays gives any kinds of instruction to the down level manager are called downward communication. Smoothly casting down level communication must have needed. Communication that flows from one level of a group or organization to a lower level is a downward commun ication. When we think of managers communicating with employees, the downward pattern is the one we are usually thinking of.Its used by group attractor and managers to assign coatings, providing job instructions, inform employees of policies and procedures, point out problems that need perplexity and offer feedback active performance. But downward communication does not have to be oral or face to face contact. When management sends letter to their employees home to advise them of the organizations new sick leave policy, its using downward communication. Page 11 of 25 From the group leader to the member of her team, reminding them of an upcoming deadline, is also downward communication 1. 2. 3 Upward communicationGround level officers promulgate with the mid-level managers. Mid-level manager communicate with their Divisional Directors. Employees can frankly communicate with fastness level managers. When communicated with the Upper level all over discover the rules & regulatio n. Upward communication flows to a higher level in the group of organization. Its used to provide feedback to higherups, inform them of progress toward goal and really current problems. Upward communication keeps managers aware of how employees feel about their jobs, co change stateers and the organization in general.Managers also rely on upward communication for ideas on how things can be improved. any(prenominal) organizational examples of upward communication are performance reports prepared by lower level of management for review by middle and top management. Suggestion box, employee attitude surveys, superior subordinate discussion, and informal gripe sessions in which employees have the opportunity to disclose and discuss problems with their stump or representative of higher management. 1. 2. 3 squint-eyed communication Similar level employers also well communicated. Employees freely communicate with colleagues really casual language, normal behavior.Grapevine is strictl y proscribed Political conversation is restricted When communication take place among member of the same work group, among members of work groups at the same level, among managers at the same level or among any horizontally equivalent personal we string it as lateral communication. Page 12 of 25 Lateral communications are often necessary to save time and facilitate coordination. In some case, these lateral relationships are formally sanctioned. More often they are informally created to a short circuit the vertical hierarchy and promote action.So lateral communication can from managements view point, be good or bad. Lateral communication can be beneficial, in such case they occur with the knowledge and support of superiors. 1. 2. 4 transverse communication Top level management can communicate directly with the ground level. Monthly performance review meeting. Everybody can communicate with everybody in this organization Figure 1. 2 Flow of communications Communication cable Comm unication channel means the way of transmitted any kinds of information about this organization. Page 13 of 25 There are dickens types of communications a. b.Internal communication channel out-of-door communication channel. Internal communications are (a) oral Telephone, Intercom, Meeting, insertion, Face to face, meeting (b) Written Memo, report, graph, e-mail, letter, notice External Communications are (a) Oral Telephone, intercom, Meeting, Presentation, Face to face meeting, Press instruct (b) Written Memo, report, graph, e-mail, letter, notice, invitation, annual report, leaflet 1. 3 Necessity of communication The communication shortcoming of employees and the splendor of communication in credit line explain wherefore one should work to improve communication skills.Whatever position one has in business, performance will be judged largely by his/her ability to communicate. If one can communicate well, he/she is likely to be rewarded with advancement. And higher the advan cement, more necessity of communication ability. The evidence is clear improving communication skills improves chances for success in business. Communication is very much important in business businesses want and need people with good communication skills. Evidence of the importance of communication in business is found in numerous surveys of executives, recruiters and academicians conducted in recent years.Without exception, these surveys found communication ranking at or near the top of the business skills needed for success. Page 14 of 25 1. 4 Barriers of communication A number of barriers can retard or distort effective communication. Some causes for barriers are, purposely manipulating information for getting more favor, presenting the information based on personal understandings etc. Barriers are 3 types 1. Intrapersonal 2. social 3. Organizational 1. Intrapersonal barriers Wrong assumptions Varied perceptions Differing background 2. Interpersonal arriers Limited dictionary Incongruity of communicative and non communicative messages Communication selectivity 3. Organizational barriers Information overload Emotions Language 1. 5 Introduction of the organization Standard Chartered Bank started its business in Bangladesh in 1948, opening its first branch in the port city of Chittagong. The bank increasingly invested in people, technology and premise as its business grew in relation to the countrys boom Page 15 of 25 economy. At present the bank has 6 offices in Dhaka Chittagong and Sylhet, including the countrys only offshore banking unit intimate the Dhaka Export Processing Zone at Savar.Extensive knowledge of the market and essential expertise in a wide order of financial services underline our strength to build business opportunities for unified and institutional clients at home and abroad. Continuous upgrading of technology and control systems has enabled the bank of offer new services, which include unique ATMs and Phone banking. Standard Charte reds services in Bangladesh, ranges from Personal & Corporate Banking to Institutional Banking, exchequer and Custodial services. 1. 6 Objectives The study was aimed at the by-line objectives A.Primary objective To adopt about the communication structure of Standard Chartered Bank B. second-string objectives To identify the communication strategies of Standard Chartered Bank To find out the internal communication barriers (if any) of Standard Chartered Bank To find out their awareness level of the barriers To suggest remedies for improvement To find out the concourse communication mode or strategies To found out the impact of gender differences inside the organization To find out the impact of cultural differences inside the organization 1. Scope After making the report some benefits will be there for both the organization and us. Page 16 of 25 17. 1 Scope for Standard Chartered Bank If any lacking is found in their organization the management will find a way to solve their pr oblem after studying our report. They will be able to make their organizations system of communication more effective and the organization will be able to improve performance. 17. 2 Scope for the researchers The study will find a chance to know the system of the organization and its communication system very well which will increase our knowledge and experience.Thus it will help building our career. 1. 8 Research methodology of the report Report is a place of factual writing based on evidence, containing organized information on particular return o Formal in nature and written for specific earreach o Discusses the topic at depth and contains conclusions and recommendations if required The study has been done with the method case study. Rather than using samples and following a placed protocol to examine limited number of variables, case study methods include an in-depth, longitudinal examination of a single instance or egress a case.They provide a systematic way of looking at e vents, collecting data, analyzing information, and reporting the results. As a result the researcher whitethorn gain a sharpened understanding of why the instance happened as it did, and what might become important to look at more extensively in future research. Case studies lend themselves to both generating and testing hypotheses. As we did not have sufficient time to go for questionnaire survey, we followed the method case study. Page 17 of 25 1. 8. Sample Small segment of the ingrained population which is considered to be the representative of the total population is called the samples and the process through which the samples are selected is called sampling or sampling procedure. There are devil types of sampling 1. Random To take the interview of the person available 2. purposive To take interview of people whom one wants to The study was done with the help of random sampling as because purposive sampling was not possible due to unavailability. The sample size of the study was 3. 1. 8. 2 Case study We took face to face interviews.We went to Standard Chartered Bank Islamic Banking center Branch which is situated in Gulshan Avenue. We talked to the three people of personal contribute section individually. We asked them the same questions and got answers. After getting their answers we organized the three cases and analyze the cases to reach the decision. 1. 9 Limitations The study was done in a very short time when we and the employees of The Standard Chartered Bank both were very busy. They at first denied talking to us but after assure that minimum time of them will be taken they agreed to meet.So, we were ineffective to ask them many questions which might be important for the valuation and proper conclusion of the report. Page 18 of 25 2. 0 Chapter 2 Presentation of Cases We did three case studies based on the three interviews of the employees of Standard Chartered Bank. The cases are given below Case study 1 Md. Sajjadur Rahman crossroad marke ting officer B. Sc. & M . Sc. in Mathematics unfastened loanword consumer Banking Division He works in standard charted bank for two years before coming here he worked as a marketing officer in HSBC bank for two years.In this study they verbalize their all communications is face to face. They contact with their higher level stamp with e-mail and they also express they contact their immediate boss face to face. When they send any e-mail to their boss it just like a SMS there are no unnecessary thighs there. But when they send any e-mail to their boss its takes time to get the reply . In this study they also said they call their male employees as brother and pistillate employees as sister. There is no sir or madam addressing through the whole organization.In this study we also see that they follow the communication channels are up ward, down ward and lateral. Most of time they use the verbal communication to their employees and it is face to face. He also said there is no non ver bal communication use their company. But sometime they use only e-mail for their boss in urgent situation. Some time they go for tour in different countries but every one does not get chance. The person who fill a minimum impute only they can join the tour. In 2006 he tour in Thailand. He is satisfied of there communication flare. Page 19 of 25Case study 2 A. M. Sadeeque Hassan Product Marketing Officer BBA, MBA Major in Marketing Unsecured loan consumer Banking Division In this study they said there are very little bit barrier to their company for example they do not call their boss with unsuitable time. Higher level boss reply their e-mail very late. In this study we also cognise feminine are more active than male. Even female work on Friday when male are relax there time by visiting or gossiping. In last month one female are getting award by doing her best performance. She process 454 bear down in one month.It is a friendly work environment as a result it plays a significant role in communication process. There are also some internal communications to employ to employ like face to face, telephone, mobile. He was also fill the credits as a result he could join the tour of Thailand in 2006 . He is also satisfied of there communication style. Case study 3 Md. Fayssal Hossain Assistant Product Marketing officer Honors Masters in Marketing Unsecured loan consumer Banking Division In this study they said that they can talk to their higher level authority direct face to face or phone. There are also down ward, swiftness ward and horizontal communication.In standard charted bank all work has been done by group work and every group join as a team. There are a leader of each team and all the group follow the leader. Page 20 of 25 Some time they arrange centering or party and the entire members pick up the party or picnic. It helps to communicate with other and remove the communication barriers with upper level and lower level employees. In this time boss are free with their employees. That recreation system is effective for better employee employer relationship He was also filling the credits as a result he could join the tour of last year in china with there official tour.He is also satisfied with there Communication style. Page 21 of 25 3. 0 Chapter 3 Analysis After studying the cases we came to know about the organizations communication structure. Their communication style is very rich. They have very effective communication system. All of them agreed with their answers. That symbolizes their unity and effectiveness of communication. They all agreed that their organization follows face to face communication most of the time. Telephone is also a main communicating element. Oral communication is used more thats why they are freer.They use face to face communication they also said their male employees as brother and female employees as sister. There are no sir or madam addressing through the whole organization. Most of the time they use the verbal communication There is also downward, upward, and horizontal communication. It is a friendly work environment as a result it plays an important role in the whole communication process. Some time the organization arrange picnic or party the entire member attend the party. The recreation system is effective for better employee employer relationship.Some they go for tour in different countries. Although they are satisfied with their communication style but still there are some barriers to communicate with their higher level boss. Their formal communication style is not perfect through which they communicate with their boss. Page 22 of 25 4. 0 Chapter 4 Conclusion The report on The Communication Structure of Standard Chartered Bank was very useful to us for our experience. We came to know about the communication structure of a renowned organization. Their communication style is very rich.They have very effective communication system. The communication style of every public organization should follow the structure. We are grateful to our course instructor for giving us such an opportunity to do the report and enrich to our knowledge to a great extent. Page 23 of 25 5. 0 Chapter 5 Recommendations Based on our findings, we now recommend the following They should remove the communication barriers between higher level managers and lower level managers Their men should work equal to their women They should enrich their formal communication styleBibliography Raman, M. , & Sharma, S. (2004). proficient Communication Principles and Practice. brand-new Delhi Oxford University Press Research. (2007). Retrieved on December 3, 2008 from http//en. wikipedia. org/wiki/Research Robbins, S. P. , & Judge, T. A. (2007).Organizational Behavior. New Delhi Prentice Hall. StandardChartered Bank (2004). Retrieved on 3rd December 2008 from http//www. standardchartered. com/bd/ Page 25 of 25