According to Grunig and Hunt, there are 4 models of Public Relations. Which model does Bank of America currently use? It's important to understand the various methods a company uses. BOA uses the Two-Way Asymmetrical model coined by Grunig and Hunt.
"1. Press Agentry - publicity, celebrity PR etc. Accuracy and credibility not important.
2. Public Information - one way communication. Not a lot known about audience, but accuracy essential.
3. Two Way Asymmetric - receives feedback but aims to change attitudes not organizational practices.
4. Two Way Symmetric - gets feedback with view to changing practices; dialogue not monologue(http://www.prblogger.com/2005/10/grunig-hunts-4-models-of-pr/."
Based on research on how Bank of America operates, I came to the conclusion that Bank of America uses the Two-Way Asymmetric model. Again according to prblogger.com, "The two-way asymmetric model; receives feedback but aims to change attitudes not organizational practices.http://www.prblogger.com/2005/10/grunig-hunts-4-models-of-pr/.
Bank of Amercia has been commended in more than one way, especially on how they are involved with social media. BOA is accessible through myspace and through BOA's online community room which was recently added for customers to communicate with other BOA employees or customers. Bank of America is also mobile. If you have internet access on your cell phone you are connected to your finances anytime and anywhere.
By incorporating the Two-way Asymmetric model by Grunig and Hunt, it is safe to say that BOA intentions are to listen and learn from what their consumers are really saying.
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