CRITICAL EVALUATION OF THE ROLE OF PUBLIC RELATIONS IN ACHIEVING ORGANIZATIONAL OBJECTIVES (A STUDY OF EXCEL MICRO-FINANCE BANK, ERUWA)

ABSTRACT This study critically evaluated the role of Public Relations (PR) in achieving organizational objectives with a specific focus on Excel Micro-Finance Bank, Eruwa, Oyo State, Nigeria. The research examined the extent to which Public Relations practices contribute to reputation management, stakeholder engagement, customer attraction and retention, and overall organizational performance in the microfinance sector. A survey research design was adopted for the study. The population comprised staff and customers of Excel Micro-Finance Bank, Eruwa. Using Taro Yamane’s formula, a sample size of 400 was determined, out of which 350 questionnaires were correctly filled and returned, representing an 87.5% response rate. Data collected were analyzed using frequency counts, simple percentages, and chi-square statistical tools. Findings revealed that Public Relations practices significantly contribute to the achievement of the bank’s objectives. A vast majority of respondents (97.14%) agreed that PR helps attract new customers, while 97.14% also affirmed that it positively impacts customer satisfaction. Additionally, 98.57% of respondents believed that the bank’s continuous profit posting is largely due to the efforts of its Public Relations department. The study further established that effective PR fosters mutual understanding between the bank and its publics. The study concludes that Public Relations is a strategic tool for enhancing organizational performance, reputation, and stakeholder relationships in microfinance institutions. It recommends that management of Excel Micro-Finance Bank should give more priority to PR by involving practitioners in policy formulation and strategic decision-making.