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OPERATIONALIZING CRITICAL HERMENEUTICS: REFERENTIAL ASPECT

Posted by Connie R. Aponte on January 20, 2014 in Social Constructionism |

REFERENTIAL ASPECT

There are six referential aspects in this campaign. The first referential aspect is in the first paragraph of the copy. It states: “we have put in over 70 years of service to the people of our great nation’’. The second aspect in this copy is also in the first paragraph of this copy. It reads: ‘‘our co-operation with government over the years for the development of agriculture, commerce and industry has established us as willing and able partners in progress”. The third states: “Growing bigger, we now have over eleven thousand experienced and dutiful staff in over 200 branches spread around the urban and rural areas of the nation’ ’.

The fourth makes a follow up on the third and it states: “and, assisted by our network of international connections and our full fledged branch in London, UNION BANK handles a fairly large chunk of foreign exchange transactions in Nigeria’. The fifth is “Growing stronger, we continue to set the pace with our unique Business Advisory Service – the first by any Nigerian Bank”. The sixth is ‘‘Union Bank is undoubtedly one of Nigeria’s most profitable financial institutions’’ and the seventh is ‘‘the first Nigerian bank to achieve the N 1 Billion mark in its savings account balances”. Insurance market

But what do six referential aspects located in this corporate advertising text mean? ‘At UNION BANK OF NIGERIA LIMITED’ we have put in over seventy years of service to the people of our great nation’ means it has gained and amassed massive, unique, extensive skills and technical knowhow in commercial banking and having spent as much as seventy years in the industry, it has practiced commercial banking successfully in Nigeria. This statement also draws attention to Union Bank’s distinct history. It demonstrates that unlike many other financial institutions established over this period, it has stood the test of time and has practiced successful commercial banking in Nigeria over this period. By making emphasis on its history and experience, Union Bank Nigeria Plc indirectly draws attention to its goodwill and corporate reputation in commercial banking services to arouse audience interest or curiosity to read the copy further.

The second aspect which is ‘Our co-operation with government over the years for the development of agriculture, commerce and industry has established us as willing and able partners in progress’ means that Union Bank has successfully collaborated and supported the implementation of all monetary policies initiated by successive governments in Nigeria. Union Bank has assisted the implementation of government development policies on agriculture, commerce and industry by giving preferential credits to small, medium and large scale businesses in these sectors at lower rates. The preferential credit support given to these sectors by Union Bank is driven by Central Bank of Nigeria (CBN) directives to banks to give preferential credit services to businesses operating in these sectors (Browbridge, 2005). This sentence ends with a declaration that Union Bank has successfully amassed a core competence in the implementation of various monetary policies initiated by successive governments in Nigeria.

The third referential aspect which is: ‘‘Growing bigger, we now have over 11,000 experienced and dutiful staff in over two hundred branches spread around the urban and rural areas of the nation’’ means Union Bank is developing in size and expanding in all its activities and has over the years witnessed a substantial rise in all its business activities. As a good corporate citizen and gesture of its good corporate responsiveness, it is currently employing over 11,000 well-behaved, obedient, submissive, loyal, devoted and respectful employees in more than 200 branches throughout the country. These employees are purposefully employed and trained to provide speedy, efficient and responsive banking services to customers in any part of the country. The size of Union Bank’s staff strength is unique. No other bank is likely to have eleven thousand employees. It serves as another distinguishing characteristic for Union Bank Nigeria Limited.

The fourth aspect is: “And, assisted by our network of international connections and our full-fledged branch in London, UNION BANK handles a fairly large chunk of foreign exchange transactions in Nigeria’’. This means that Union Bank belongs to a group of international financial institutions located all over the world, which collaborate with one another in the pursuit and delivery of international financial transactions to customers, wherever they may be. In addition, Union Bank has a fully developed branch to act and carry out various business and financial transactions on behalf of its customers in Nigeria, England and on behalf of its parent bank in Nigeria. Union Bank manages a huge amount of foreign exchange transactions on behalf of its customers in Nigeria planning to visit foreign countries or proposing to pursue various import and export business transactions with other businesses in other parts of the world.

The fifth aspect is: ‘ ‘Growing stronger, we continue to set the pace with our unique Business Advisory Service -the first by any Nigerian bank’’ and it is indicative that besides its development in size, Union Bank has continued to expand in power and strength. This is exemplified by the establishment of its Business Advisory Service, the first to be established by any Nigerian bank. The advisory service has been designed to review the business and financial activities of businesses and offer advice to customers when solicited. This again differentiates, distinguishes and sets Union Bank apart from other financial institutions in Nigeria.

The sixth aspect is: ‘‘Union Bank is undoubtedly one of Nigeria’s most profitable financial institutions” and this means that Union Bank is a profit-making, viable, marketable and money-spinning institution, which has consistently maximized the investment of its shareholders. It has protected its investments and has continuously made good return on shareholder investment.

The seventh aspect reads: ‘‘the first Nigerian bank to achieve the N 1 Billion mark in its savings account balances’’. This implies that Union Bank financial services have successfully attracted a large customer base. It has a thriving and burgeoning customer base and used its successful financial services to achieve the N 1 Billion mark (about SUS200 million) savings account, a feat never achieved by any banking or financial institution in Nigeria. This achievement sets Union Bank before from competitors and distinguishes it in the Nigerian banking industry.

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