STRATEGIES OF INTERNAL COMMUNICATION IN BANKS OF BOSNIA AND HERZEGOVINA

Abstract

The communication process is the sharing of messages that include content, communication channels, and message recipients who will understand the message through clear objectives. By defining the goals of communication, narrative, implicational and decisive strategies are characteristic of most communicative processes. As the company's strategy implies the identification and planning of long-term goals that the company will achieve by using available resources, and with the aim of gaining a competitive advantage, communication strategies represent plans for transmitting information related to a specific topic. Strategically effective communication is crucial in achieving the company's competitive advantage, but also an irreplaceable element for achieving success in team projects. Their main goal is to convey messages that are credible in the simplest possible form, which will cause a positive or negative connotation in the company. Effective strategic communication is much more than sharing ideas within a company. Understanding effective communication strategies can improve relationships between employees, and improve business through many aspects. Communication strategies should include defined goals, interest groups, selected crucial messages, communication methods, and clarified feedback mechanisms on the defined strategy. Effective strategic communication, through company support and a communication plan, will ensure a clear understanding of the messages and values that are being conveyed to the recipients. In digital business, the electronic exchange of information (Electronic Data Interchange - EDI) makes communication more efficient and motivates company departments to work more dynamically, productively, and effectively. Transparency with employees is considered one of the most effective communication strategies available to a company. Converting thoughts into words, and clearly understanding them through selected communication channels, helps to share the necessary information clearly and efficiently. To use different communication channels, it is necessary to have an adequate communication policy for employees, so that communication becomes better organized, without any errors, and consistent. Various meetings, e-mails about available projects, annual newsletters, and other forms of communication help set expectations for employees in different situations. Strong strategic business communication is two-way through creating a stimulating company culture and providing feedback. The goal and purpose of the work are to examine what are the modern strategies of internal business communication in the banking sector in Bosnia and Herzegovina. Business communication is a very important tool in the banking system in Bosnia and Herzegovina. As in other industries, effective business communication has become critical for today's workforce - more than ever before.