OPERATIONAL PERFORMANCE OF DEPOSIT MONEY BANKS INRIVERS STATE: LEVERAGING CRISIS COMMUNICATION STRATEGIES


IKOROMASOMA Emmanuel
Department of Office and Information Management
Rivers State University
ikoromasoma.emmauel@ust.edu.ng
ECHENDU Sharon Ifeoma
Department of Office and Information Management
Rivers State University
Talk2sharon@gmail.com

ABSTRACT
The study examined the relationship between crisis communication strategies and operational performance of
deposit money banks in Rivers State. The study adopted clarity, transparency and prompt response as the
dimensions of the predictor variable whereas, service quality and customer retention served as the measures of
the criterion variable. A Quasi-experimental research design was adopted with a cross-sectional survey approach.
The population of the study consisted of management staff of the 21 deposit money banks in Rivers State. Three management staff were studied across each of the deposit money banks; branch manager, head of corporate communication and head of operations from each of the twenty one (21) Deposit Money Banks in Rivers State.
A total of sixty three (63) management staff were derived. However, owing to the relatively small population, a
census was adopted. Therefore, 63 management staff of the 21 deposit money banks was studied. Data were
analysed with Spearman Rank Correlation Statistic. A total of sixty – three (63) copies of questionnaire were
administered, however, only 45 copies were retrieved. Therefore, 45 copies of questionnaire was used for the
analysis. The findings revealed that, there is a significant positive relationship between crisis communication
strategies and operational performance as well as the dimensions to the measures of this study. Based on these findings, the study concluded that there is a significant relationship between crisis communication strategies and operational performance of deposit money banks in Rivers State. Therefore, the study recommended that deposit money banks should encourage clarity, transparency and prompt response as its strategy in communicating crisis situation to its public as it has been found to trigger customer retention and quality service.
Keywords: Crisis communication, prompt response, clarity, transparency, operational performance

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