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Course Title Business Communication Submitted To Miss Semre Khan Submitted By Zohaib Khan Jawwad Hassan Wajid Ali Mirjat Farrukh Saleem Muhammad Sajid

Date of submission 4-11-2009


First of all we would like to thank the Almighty, who has given us the ability to study, the motivation to work and the strength to reach our goals. We would like to thank the Instructor, Ms. Semre Khan for motivating me to make the completion of this Analysis possible. Writing the report has greatly enhanced our knowledge and has proved to be an Enlightening learning experience as it has enable us to view the business from a different prospective. In this new era where borders of countries have no value, where internet has provided access to everywhere, we can do business from any where in the world.

We would like to express the fact that I have written the report to the best of my ability.

Overview of the Organization
The organization that we have selected is Citibank, Pakistan. It is a multinational with operations worldwide. The reason we selected this organization is that it a leader in the consumer banking industry. To maintain an edge in today's competitive market, organizations need to hire and train its most capable staff. Citibank was one of the first foreign banks to start its operations in Pakistan. It started out as a corporate financier in 1961 and remained as a corporate bank for the next three decades. In 1991, it introduced itself as the first consumer bank in Pakistan. Then onwards began an era of market leadership for Citibank in consumer services and since then it has been pioneering consumer finance services in the country. Today Citibank has six branches just operating in Karachi with a total strength of 2,005 employees, 605 permanent and 1400 contract employees.

Citibank’s Mission Statement
Citibank’s mission in the Asia Pacific region was to be the most profitable provider of a wide array of financial services to an increasingly affluent and middle-income market, and to reach the rapidly growing middle-income households in this region.

Citibank’s Organizational Culture The idea of viewing organizations as cultures- where there is a system of shared meaning among members- is a recent one. Earlier organizations were thought of as rational means by which to coordinate and control a group of people. But organizations are more. They have personalities too, just like individuals. We can find them to be rigid or flexible, unfriendly or supportive, innovative or conservative. Thus, organization culture is actually a common perception held by the organizations members. At Citibank Pakistan we found the characteristics of the organization’s culture to be: 1. People orientated "People first", as the HR manager of Citibank said. He said that by keep people their priorities that are able to remain focused in their HR policies, which makes them all the more effective. 2. Team orientated

Synergy is the principle to follow. Teamwork at Citibank is fostered by good communications, horizontal as well as vertical.

3. Innovation and risk taking Citibank has achieved its present state of market leadership through innovation in consumer banking. This also includes certain amount of risk taking. Overall a culture for taking calculated risks is nurtured in the organization. 4. Aggressive Be there first. Citibank has not only been the lea der in consumer banking but also its pioneer in Pakistan. This requires a certain amount of commitment and dedication to work. The HR manager likes to call it the aggressive approach, i.e. to be the first one in the market with a new idea. 5. Stability It is essential to move with changing time. However all this also requires stability. Stability in terms of organization policies, procedures so that employees can easily accustom themselves to change without being threatened by it. Citibank Pakistan supports and assists employees to take the initiative in managing their own careers. Support provided for career development includes performance appraisal, training and financial support.

Citibank Pakistan proudly calls itself an equal opportunity employer, and enables employees to grow and reach their full potential with no regard to age, sex, race, creed or origin. They strictly obey the no discrimination policy against individuals regarding any matter, be it job selection, promotion, or training. They believe that the greatest potential for growth and career advancement is achieved through building record performance on the job each employee performs. Citibank Pakistan believes that their customers are the key to product delivery; hence their business depends on the quality of their employees. The employees are committed and loyal to their work, and act responsibly to different situations such as with other employees, or customers. The employees work as a team displaying individuality, integrity and creative thinking. Other than this all the employees are supported in broadening their skills knowledge and using their own initiative, assistance. Introduction of Communication "Any act by which one person gives to or receives from person information about that person's needs, desires, perceptions, knowledge, or affective states. Communication may be intentional or unintentional, may involve conventional or unconventional signals, may take linguistic or nonlinguistic forms, and may occur through spoken or other modes." Communication is a process that involves exchange of information, thoughts, ideas and emotions. Communication is a process that involves a sender who encodes and sends the message, which is then carried via the communication channel to the receiver where the through training and other means such as financial

receiver decodes the message, processes the information and sends an appropriate reply via the same communication channel. Bussiness Communication : Communication used to promote a product, service, or organisation; relay information within the business; or deal with legal and similar issues. Business Communication encompasses a variety of topics, including Marketing, Branding, Customer relations, Consumer behaviour, Advertising, Public relations, Corporate communication, Community engagement, Research & Measurement, Reputation management, Interpersonal communication, Employee engagement, Online communication, and Event management. It is closely related to the fields of professional communication and technical communication.

There are several methods of business communication, including:








communication, anytime anywhere ...

E-mails, which provide an instantaneous medium of written communication worldwide; Reports - important in documenting the activities of any department; Presentations - very popular method of communication in all types of organizations, usually involving audiovisual material, like

copies of reports, or material prepared in Microsoft PowerPoint or Adobe Flash;
• •

Telephoned meetings, which allow for long distance speech; Forum boards, which allow people to instantly post information at a centralized location; and

Face to face meetings, which are personal and should be succeeded by a written followup Here product information transmitted to the customers through a process of communication-

Bank response



COMMUNICATION POLICY OF CITIBANK 1. PURPOSE This document sets out the policy of the Citibank on external and internal communication. The Bank has issued separate policies for disclosure and language usage. 2. GOALS External Communication External communication should support the Bank in pursuing the overall goals as described in its mandate, mission and strategy. The

basic mission of the Bank is to promote the sustainable growth of its member countries by providing long-term complementary financing, based on sound banking principles, to projects that strengthen competitiveness and enhance the environment. This creates, first, a natural need to communicate to support lending and funding processes. Therefore customer relations (branding, marketing) and investor relations (name recognition, Citibank as toprated institution) play an important role in the external relations of the Bank. Second, external communication should promote overall knowledge and awareness of Citi among different stakeholders. As an international financial institution with goals beyond making profits (competitiveness and environment), Citi is accountable to its member countries and to the society as a whole.

Internal Communication Like Citi goals for its external communication, the main goal of the Bank’s internal communication is to support the organization in achieving the overall goals described in the Bank’s mandate, mission and strategy. Furthermore, the internal communication shall strengthen the organizational culture and feeling of commitment among the staff. Mutual information sharing is an important principle to ensure efficient internal communication. Staff also acts as a multiplier in reaching other stakeholders.

3. GUIDING PRINCIPLES Citi recognizes that active communication with different stakeholders and the general public is an integral part of good business and administration. In order to reach its overall goals for communication, Citi follows a set of guiding principles. Efficiency Citi uses modern communication technologies in a timely manner to convey its messages to its target groups. Synergies are sought when it comes to using different communication channels. Citi replies without unnecessary delay to information requests by the media and the public. Transparency As an international financial institution, Citi strives in its communication to be as transparent and open as possible while taking into account bank secrecy. This contributes to maintaining a high level of accountability. The Bank has issued a separate disclosure policy. That policy sets rules for the disclosure of the Bank’s administrative and internal processes as well as its operational activities.

Proactivity Citi proactively develops contacts with its target groups and identifies topics of possible mutual interest. Clarity Citi aims at clarity, i.e., to send uniform and clear messages on key policy issues. Citi avoids unnecessary jargon in its communication. Citi

reinforces clarity by adhering to a welldefined visual identity in its external communication.

Cultural awareness As an international financial institution, Citi operates in a multicultural environment. While most of its communication material is provided only in English, the Bank strives to communicate with its target groups (especially with non-professionals) in the members countries to the extent possible in their own languages. The Bank has issued a separate language policy. Feedback Citi actively









communication activities both from the media as well as from its key target groups. This feedback is used to fine-tune communication activities. 4. TARGET GROUPS Citi communication has a variety of target groups.

External Communication Customers Citi grants long-term loans for projects which strengthen

competitiveness and enhance the environment. Citi customers are located in the private and public sectors both in and outside its member countries. In addition to private companies and public authorities, banks and other IFIs are key stakeholders for Citi. External

communication should support the process of maintaining current customer relations as well as finding potential new customers. Customer relations (branding, marketing) play an important role in the external relations of the Bank. Investors Citi funds its activities by issuing bonds in the international financial markets. With its strong brand name and high credit rating, Citi has access to funding all over the world. In these operations, Citi cooperates closely with investment banks. External communication should support the funding process by promoting name recognition and the role of Citi as a top-rated institution. Political decision-makers and public administration Citi ultimate decision-making body is the Board of Governors, the members of which are ministers of the member countries. Citi is accountable to its member countries for its actions, which creates a natural need to communicate. Non-governmental organizations Citi analyses carefully all aspects of its loans, with special emphasis on competitiveness and the environment. It is important that Citi conduct a two-way dialogue and communicate its goals and environmental policy to NGOs.

Media Citi considers the media as a target group in its own right, but more importantly it serves as an intermediary in reaching other key target groups. Therefore the media dealing with economic and environmental

issues has the priority. The main focus is on the media in Citi’s member countries. General public Citi priority in external communication is the key target groups mentioned above. The general public is an important target group for Citi as an international financial institution. To reach this target group Citi will often use the other target groups, in particular the media, as multipliers. Internal Communication Staff Citi’s goal is to recruit and retain personnel that possess the competencies and skills required in order for the Bank to implement its strategy. Highly motivated staff coming from different countries is also an important multiplier in external communication.

5. MESSAGES The key message is: Citi promotes sustainable growth by financing projects that strengthen competitiveness and enhance the environment.

Key messages to be communicated to different target groups are the following: About CITI (all target groups) CITI is the International Financial Institution of the Nordic and Baltic countries • While maintaining focus on lending in member countries, CITI provides financing worldwide International Financial Institution (Northern Europe’s multilateral bank), long-term financing for sustainable growth, green thinking for the Baltic Sea Region’s competitiveness, Baltic Sea Bank, regional focus with global reach

Loans (customers and potential customers) • CITI provides long-term complementary financing • CITI promotes sustainable growth by financing projects that strengthen competitiveness and enhance the environment • Focus: energy, transport, the environment, as well as large investments by the corporate sector, small and medium-sized enterprises through financial intermediaries • CITI strengthens customers credibility and is a reliable partner • Citi’s status as an international financial institution facilitates the financing of cross-border activities • CITI has experience in complex financing structures in cooperation with other lenders long-term reliable partner, international expert financing Capital markets (investors and potential investors) • AAA-rated Nordic-Baltic International Financial Institution, the highest possible Credit rating, which emanates from high asset quality, a strong balance sheet and ownership. • CITI responds flexibly to investors’ needs and is a reliable partner highest rating, high responsiveness to changing demands of investors Human resources (staff and potential staff) • CITI has a professional and highly motivated staff • Efficient, multicultural and competent IFI Synergies are sought both in the content and layout of CITI publications. Newsletter CITI shall publish a newsletter to inform key target groups about its Activities. The material to be used in the newsletter will be published on the CITI website. It could be used in a broader form in other publications such as CITI’s

customer magazine. Communications has the overall editorial responsibility for the newsletter. COMMUNICATION TOOLS Synergies are sought both in the content and layout of CITI publications. Newsletter CITI shall publish a newsletter to inform key target groups about its activities. The material to be used in the newsletter will be published on the CITI website. It could be used in a broader form in other publications such as CITI’ customer magazine. Communications newsletter. Customer magazine CITI publishes a customer magazine. The aim is to provide an interesting insight into the Bank’s activities and field of competence. The customer magazine also forms a platform for debate and may include interviews of prominent external figures. Communications has the overall editorial responsibility for the customer magazine. Annual Report The Annual Report provides for an official account of the Bank’s activities for a calendar year. It is comprehensive by nature, as it serves as a future point of reference. has the overall editorial responsibility for the

Internet The website is the central platform for all external information CITI produces. It is up-to-date, reader-friendly and it clearly communicates Citi’s mission. Communications has the overall editorial responsibility for Citi’s Internet site. Intranet The intranet is the most important channel for Citi’s internal communication. Citi staff can easily find the information they need to perform their daily work. Internal news is updated in a timely manner. Communications has the overall editorial responsibility for Citi’s intranet site in cooperation with HR. Seminars CITI organizes and participates in seminars with key target groups. The Bank also participates actively in panels, providing speakers or discussants for relevant sessions. With a view to its own seminars (e.g. lending seminars), efforts are to be made to serve also the media whenever appropriate. Communications is responsible for updating a calendar of these forthcoming events, which is to be published both internally and externally. Other functions have the responsibility to inform Communications of these events. Speeches Top management is often invited to give speeches on various topics. The most important public appearances are to be announced on the website. To the extent possible, short summaries of the speeches are to be published on the website and distributed at the venue to interested parties (including the press).

Media activities CITI sends press releases on its most important activities. Depending on the topic, they are translated into the relevant language. While the President and the Director of Communications are responsible for the external communication and are the main spokespersons for the Bank, pragmatic solutions for different communication situations are sought to find the relevant expertise and language combination to serve the interests of the Bank and the media. Interviews, background talks and trips to locations of important projects are organized to inform the media of CITI activities. The Bank’s staff is encouraged to identify topics of possible interest to the media and broader public. The Communications coordinates all media activities for the Bank. Advertising & sponsoring CITI may use advertising and sponsoring to support its actions and to reach its key target groups. As a public institution, CITI should carefully consider the pros and cons of any such activity against defined criteria. Advertising and sponsoring should support the activities of the Bank. Communications acts as the coordinator for advertising.

6. BASIC RULES FOR COMMUNICATION Responsibility for external and internal communication The President and Communications have the overall responsibility for Citi’s external and internal communication. However, the responsibility is shared depending on the key target groups. For example, with a view to external communication, Lending is in continuous contact with customers and Treasury takes care primarily of the investors. Communications assists these functions by providing communications services to support these contacts. In internal communication, responsibility is shared by Human Resources and Communications. Spokespersons for the Bank As regards public statements on behalf of the Bank, a basic rule is that the key spokespersons for the Bank (i.e., persons giving on-the-record comments to the media) are the President and the Communications Director. However, decentralization communication is sought whenever there are valid arguments for it: e.g., expertise or language skills. However, prior consultation with the Communications is desirable in case information is given that is not in the public domain the management and staff of CITI are encouraged to identify opportunities for external communication.

Coordination of communication Communication is an integral part of the Bank’s overall processes. Key policy messages are discussed in the decision-making bodies of the Bank. When items are discussed in the decision-making bodies there should be a short suggestion on how they will be communicated both externally and internally. Information on public appearances by CITI representatives is to be sent in a timely manner to Communications. Separate processes for the information flow on loan lists and funding activities are in place. All interview requests and media contributions are too channeled through Communications Unit.

Communication through marketing understanding
Communication is the part of the whole marketing process. Usually product has been developed to fulfill the needs of customers so there should be effective communication process between bank and customer by which customers will understand the benefits & advantages of such products. Now a day’s market become very competitive as lots of financial organization creates market extremely crowded. By deploying right marketing strategy bank can able to convey its products detail, at the same time bank would establish its USP (unique selling proposition).

Communicating new product in the market
Proper Communication is inevitable to introduce any product and service in the market. There are many cases happened that due to lack of proper communication lots of brilliant product development could not do well in the market. Unlike fast moving consumer product, in banks have been involving directly interacted to their customers regarding their products & services as banks product are bit complicated where mental involvement is very much required.

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