Saturday, April 20, 2019
Case Grading Schema (NA) Study Example | Topics and Well Written Essays - 1250 words
Grading Schema (NA) - Case strike ExampleThus, while the other departments provided the imprecate with operational challenges, the HR department was the most affected. This study seeks to tump over into the growth of the BoE, with a focus on how the growth has impacted on its effective delivery of operate to the customers, as well as how the challenges experienced in the HR department has impacted on the asserts performance. Summary When it first opened its doors in the course 2001, the curse of Excellence (BoE) became the center of haulage to many an(prenominal) an(prenominal). Despite the fact that it started as a microfinance institution, its growth and transformation to a fully fledged curse took only 6 years, and by the year 2007, it was granted a fully fledged bank status. The bank now prides itself for having 8 branches in different regions, with a growing profit margin every mavin year, except in the 2012 pecuniary year, when the profit of the bank declined sign ificantly. Several questions have been raised, regarding how the microfinance institution registered such a rapid growth, to attain a bank status within 6 years of its operation. First, the innovative increase strategy was applied by BoE when it first opened its doors, to give the customers a range of new financial products that were not offered by other financial institutions. BoE specialized in offering low-interest loans to the customers, which were processed fast and the scathe and conditions attached were not stringent. This make it easy for the many customers to apply and qualify for loans, which they would not have differently been granted by other financial institutions, due to the strict requirements that hindered their application for loans, such as blue security and collateral requirements (Falcone, 2009). BoE introduced the system of giving loans to the customers standpointd on movable and other less secured assets, which allowed many applicants to qualify for the l oans. Excellent customer service is the other strategy that the microfinance institution had applied to attract many customers. The microfinance institution ensured that customers were served as quickly as possible, while in any case ensuring that they got good customer service from its employees. This made the customers feel valued by the financial institution, and thus kept increasing by the day. The microfinance institution had also ensured that its employees are well motivated and enabled, to deliver the best services to the customer, an aspect that helped to build good customer relationship and consequently customer loyalty to the microfinance. There was a direct and cordial relationship in the midst of the employees and the management of the microfinance, which made the employees feel appreciated. There was also a reward system for the employees, who were rewarded with bonuses and even promotion, at a time they performed well and even came up with innovative ideas for the m icrofinance to implement and benefit the business, the employees and the customers. By the end of its first year of operation, the microfinance had managed to attract over 200, 000 regular customers. This growth trend continued until the microfinance attained a customer base of over one million, and thus applied to be registered as a fully fledged Bank. compend The attainment of the bank status was a privilege to the microfinance institution, since it would now benefit more from the central Bank lending, as opposed to when it was just microfinance.