Exploring perspectives of business managers on interpersonal communication strategies in building and maintaining customers during disruptive naira redesign in Nigeria
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Date
2023
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Publisher
Albukhary Social Business Journal, 4(2), 76-88, Published by Albukhary International University, Malaysia
Abstract
The sudden implementation of Nigeria's naira redesign in 2023 led to disruptions in all spheres
of human life, including business activities. As a matter of national policy, almost all business
transactions were online since transactions in cash were out-lawed. However, due to low
online money transfer literacy among Nigerian customers and undeveloped online
infrastructure, managers had to negotiate with customers. Premised on this development,
managers of businesses had to re-strategize how best they would sustain their existing
customers and lure potential ones so as to remain in business. Driven by the desire to
understand the interpersonal communication strategies business managers evolved to
maintain and attract potential customers, this study interviewed business managers in Ilorin,
Kwara State, Nigeria. Results of the in-depth interviews with thirteen business managers
purposively selected indicate that the overwhelming interpersonal communication strategies
were cheerfulness, calmness and persuasion. The study concludes that the performance of
the business is dependent on prevalent situations in a given milieu. The results of this study
also imply that during emergency periods, managers need to compromise some business
management principles and adapt to new business requirements in order to maintain and
attract new customers, who are critical stakeholders for the success of their business.
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Keywords
customers, disruptive, interpersonal communication, manager, naira redesign
Citation
27. Udende, P. (2023). Exploring perspectives of business managers on interpersonal communication strategies in building and maintaining customers during disruptive naira redesign in Nigeria. Albukhary Social Business Journal, 4(2), 76-88, Published by Albukhary International University, Malaysia