‘Communicating development’–a cultural shift: emerging discourses on entrepreneurial development and poverty reduction by Nigeria’s banking and microfinance sectors
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Date
2016-09-02
Journal Title
Journal ISSN
Volume Title
Publisher
Routledge
Abstract
This article departs from the dominant orthodoxies in discourses on
communication and development by introducing, as a major cultural shift, theoryguided strategic communication themes in two complementary sectors of Nigeria’s
financial industry: banking and microfinance. In both sectors, the personal
influence model and relationship marketing provide the overarching theoretical
framework for investigating the immanence (or lack thereof) of three key variables
in the relationships of those sectors with their primary stakeholders, for the primary
purpose of entrepreneurial development and poverty reduction. Those variables –
trust, commitment and satisfaction – are subsumed under ‘relationship quality’, an
embodiment of culture as an integral part of the impact of microfinance on Nigeria’s
economy. This article adopts a development strategy that focuses exclusively on
relationships established and sustained in exchanges between nonpublic
organisations (i.e., the banking and microfinance industries) and key stakeholders
for the primary purpose of entrepreneurial development fueled by a cultural
economy that ensures the production and wide distribution of finished products,
not necessarily commodities. Thematic discourses that use theories to guide
institutional policies and actions are proffered in an attempt to create stronger
institutional bonds between banking and microfinance institutions and their
disparate stakeholders.
Description
Keywords
Banks, Entrepreneurial development, Microfinance institutions, Nigeria, Personal influence model, Poverty reduction, Relationship marketing
Citation
Hu, Y., Pratt, C. B., Adamolekun, W., & Ogedengbe, A. R. (2016). ‘Communicating development’–a cultural shift: emerging discourses on entrepreneurial development and poverty reduction by Nigeria’s banking and microfinance sectors. Critical Arts, 30(5), 709-727.