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Bsa 14 Brief

The document discusses effective communication for the Building Societies Association (BSA). It notes that the BSA needs to send key information to and from its member building societies using various communication channels and media. It also discusses the different parts of the communication process, including the sender, receiver, message content and format. The BSA communicates with its member customers, local communities, and potential new customers. It uses internal messages like briefs and a newsletter as well as external messages to regulators and the press. The BSA must ensure it selects the right communication channels and media to clearly convey messages about the benefits of mutuality to its current and future customers.

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IlariaOgoshiDeLucia
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38 views3 pages

Bsa 14 Brief

The document discusses effective communication for the Building Societies Association (BSA). It notes that the BSA needs to send key information to and from its member building societies using various communication channels and media. It also discusses the different parts of the communication process, including the sender, receiver, message content and format. The BSA communicates with its member customers, local communities, and potential new customers. It uses internal messages like briefs and a newsletter as well as external messages to regulators and the press. The BSA must ensure it selects the right communication channels and media to clearly convey messages about the benefits of mutuality to its current and future customers.

Uploaded by

IlariaOgoshiDeLucia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

The importance of effective

communication
Introduction
The Building Societies Association (BSA) is the trade association for
the UKs building societies. Building societies mainly offer savings
accounts and loans on homes. Building societies are mutuals. This
type of organisation has no shareholders and does not pay
dividends. They are owned by their members. In the 1990s some
societies turned into banks. Banks have to pay shareholders.
Mutuals do not, so can offer better rates to their customers.
The BSA needs to send key information to and from its members
in many ways.
The communication process
Effective communication is important to all businesses. The right
message must go to the right people and in the right format. There
are a number of parts to any communication:

Sender

Receiver

Message content

Message format

Communication channel

Chosen medium.
If each part is not correct the message may not be clear or may not
be received. BSAs member building societies mainly communicate
with three groups:

their member customers who want to know about aims and


performance

local communities where societies work

possible new customers through, for example, TV, radio or press


adverts.
The Building Societies Association - Brief
www.thetimes100.co.uk
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The Times 100 Edition 14
www.thetimes100.co.uk
BUILDING SOCIETIES ASSOC BRIEF 10/7/09 11:37 Page 1
Communication media
A business needs to use different formats or media to communicate
messages. Messages may be internal or external, formal or informal.
They may need to be sent in different directions - up, down or
across the business:

An internal message is within the business. The BSA uses detailed


policy briefs and updates, a newsletter and a magazine to keep its
members in touch.

An external message is with people or bodies outside the


business. These include regulators, government and the press.
Messages up or down a business are called vertical. Those across the
business, for instance, from societies to customers, are called lateral.
Formal communication uses a set format and records are kept.
Communication networks
Communication networks may be:

centralised a leader is in charge of communication

decentralised each member of the group can share the other


members ideas.
Types of networks include:

Chain the message is passed straight up or down. A leader


decides what should be passed on and how

Circle all information is evenly shared between members

Wheel the leader is central and controls the line of


communication

Y information is shared by a leader through a number of


channels. This is faster than the chain method.
www.thetimes100.co.uk
Downloaded from
The Times 100 Edition 14
www.thetimes100.co.uk
BUILDING SOCIETIES ASSOC BRIEF 10/7/09 11:37 Page 2
Barriers to communication
Barriers that get in the way of good communication are known as
noise. The less noise there is, the better the communication.
Conclusion
The BSA represents its member building societies. These in turn serve
their own members. The BSA must send clear messages about the
benefits of mutuality. These must reach both its current and future
customers. To do this, it must use the right channels and media. This
is how building societies set themselves apart from other financial
providers in a competitive market.
www.thetimes100.co.uk
Downloaded from
The Times 100 Edition 14
www.thetimes100.co.uk
wrong format w
technical
breakdown
poor timing no feedbcak
wrong channel
attitude
towards sender
receiver unable
to understand
wrong target
unclear message
use of jargon
Barriers
BUILDING SOCIETIES ASSOC BRIEF 10/7/09 11:37 Page 3

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