Effective Business Communication and Organisation Profitability: Evidence from Selected Retail Outlets in Lagos State, Nigeria.
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Date
2016-12
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Depatment of Businesss Administration, Ibrahim Badamasi Babangida University, Lapai.
Abstract
The Nigerian business environment has been opened to the outside world, hence organizations that cannot convey the message of their products to the consumers may be priced out of markets. The inability of organizations to effectively communicate their products has been confirmed to reduce their income level thereby leading to low profitability. This is partly due to their inability to effectively communicate their business to the consumers of their products or services. These are attributable to factors such as poor and ineffective communication between the producer or suppliers of products and the potential consumer (customer). Primary data were collected using detailed questionnaire and analyzed. With an R2 of 51.9, it posits that 51.9 percent of profitability level are determined by effective communication. The study revealed that existence of effective business communication in an organization has a positive effect on goal achievement; enhancement of customer patronage and overall business development and this will lead to organizational profitability. The study therefore recommended that businesses should put in place effective communication system that will help in achieving higher rates of returns which will lead to higher profit.
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Citation
Kadiri, I. B., & Suleiman, A. A. (2016). Effective Business Communication and Organisation Profitability: Evidence from Selected Retail Outlets in Lagos State, Nigeria. Lapai Journal of Management Science, 7(1), 1-7, Published by Department of Business Administration, Ibrahim Badamasi Babangida University