Business and Management
Submitted By dadzie
MOP Micro Finance Ltd stands for (MICHAEL OBAKUMAH PERCY) an acronym formed on school bucket in the 80s. The company started on the dining table around September 2009 and it has grown beyond the acronym.
The business started to grow from 2010 and MOP Finance Ltd was formed and registered at the Registrar Generals' Department as a Micro Finance company on the 23rd March 2010 which happens to be my birth date.
The name of the company later changed to MOP Micro Finance Ltd to conform to regulatory requirements of Bank of Ghana. The company grew from a mere asset base of GHc5,000 to about GHc1,000,000 in just three years.
Bringing tailor made micro banking and financial services to the reach of women, underprivileged and the poor in every community with a population size of 7000 in Ghana by 2030.
We intend to build a culture of savings, empowering women through financial freedom and wealth acquisition, micro lending to the poor and underprivileged and to also demystify banking services. MOP Microfinance Limited is one of the leading and preferred microfinance companies in Ghana.
We offer comprehensive financial solutions at the micro level to our valued clients in a professional, caring, responsive and profitable way. Our products are preferred because we listen to your needs and work with you to ensure a complete solution to your financial problems in a timely manner. | | The following are product that are offered by MOP Microfinance Company. * Personal Loans * Workers Loans * Business Loans * SME Loans |
During my internship programme with MOP Microfinance I realize I have a good communication skills. I was the secretary and also the front desk personnel. I sometimes welcome people into the office and anyone who comes for enquires concerning our services were directed to me. I was able to communicate very well to client as I come down to their level to talk to them in a manner where they can understand.
As it is a Microfinance we deal mostly with people who has a little or no formal education, and to be able to deal with them one need to have a very good humor to be able to work with them and with my humility nature I found it very easy talking to them.
Organizational skills is one the best qualities that every employee need to have in other to determine what is required of them, how to arrange files and whom to contact for specific information.
During my internship I relies I have a great organizational skills as I was very good in communication, planning, scheduling, coordinating resources, meeting deadline and time management.
Most of the duties that I perform during my internship programme was more into managerial and supervisory role which must be completed within a specific period of time. Since my duties was mainly in the office I always plan ahead of time which helped me to always work and do my job efficiently.
I was also able to coordinate both internal and external activities of the company. For example as I was responsible for monitoring the account of client, I always make sure marketers conduct surveys and submit a report concerning the various complain that they get from client when they go to the field.
I always meet deadlines and able to manage my time whenever they assign any task to me. I use my time wisely and complete my work on time.
ABILITY TO MOVE ALONG WITH OTHERS
MOP Microfinance is a small company with few employees. And in every organization the way you deal with conflict and how you settle dispute among your co-workers will help establish unity among yourself. My working with MOP Microfinance gave me a great opportunity to learn about individual attitude for which I was able to move perfectly along with them. I performed any assignment given to me by my superior on time, therefore my superior is always happy with my work.
We sometimes talks and discuss about funny things during our leisure times. We share each other problem and we are always there for one another. We live like a big family.
ABILITY TO WORK AS A TEAM
Working as a team is the major principles of MOP Microfinance limited. I always work hand in hand with other employees in the organization. We bring new ideas and plan towards having new and potential client into the company.
I was very comfortable working for MOP Microfinance because it help me to express myself and also bring my ideas to board. My ability of working as a team has also helped in boasting my confidence level.
THE IMPACT OF THE DUTIES ON THE CORPERATE OBJECTIVE OF THE ORGANISATION
My main duties that I performed during my internship programme was performing secretarial duties, I also at front desk and finally performed a little bit of accounting duties.
These duties that I performed as a very great impact to the company, this is because the way I will treat a client whenever they come to the office will determine if they want to do business with us or not, and this soly depend on our customer service. The customer service duties that I performed since I started my internship has help the company to gain a lot of potential client and also maintain the old ones.
With the quality that I process, I do not only perform customer service but I was also the secretary as well. I type correspondence, organize meetings, receiving and dispatching of letters and writing of minutes.
I also performed accounting duties which include opening and closing of account, monitoring client account making sure that their account are secured.
A really negative workplace where there is no promotion and encouragement is a classic case of lack of incentives. During my intensive I went through a lot of negative experience which include embarrassment of employees in front of customers, colleagues and visitors and also unfair treatment.
Employees are sometimes very hostile to each other, and whenever one is a bad mood it extent to everyone in the office which the daily activities in the office becomes inefficient. Due to this kind of experience I realize there was a great staff turnover in the organization. Because entry level staff do not know how to respond to the negative experience. Another reason was that whenever any negative situations happens management fails to take effective actions and since staff do not want to be a bother complaining at any point in time, they just leave.
Another experience that I encountered was that the manager do not have trust in the employees. Since it was a Microfinance company everybody was not trusted because there as been an issue where marketers make away with companies money. And because of this there was lack of growth and good working performance.
There was an issue of pride in some of the workers and also managers. Whenever there is miss understanding managers or the senior staff fail to admit that what they did was wrong. They always put the blame on one person, because of this I feal reluctant to explain myself whenever there is misunderstanding. Whenever an employee tries to explain or defend himself the manager will either say the person is disrespectful or he or she is challenging his authority.
I was very happy and I enjoyed the opportunity as how easy I was able to find a position at the organization in my field of study and it definitely developed my knowledge. The nature of my internship experience also gave me the opportunity to develop my confidence level and individual behavior at the work place.
The internship made me took everything that I have learned throughout my University course and I applied it at work. I was able to develop my skills which were most practical at the work place. And was able to develop the ones that I was not good at. I also had the opportunity to network with potential future employers and gain insight into the types of employees they look out for. The greatest value of the internship provides me with a unique and exciting experience that are more practical than what is thought in the classroom. It has also given me the chance to apply the knowledge and skills that I had acquired whiles studying Management Studies.
Moreover, I was able to improve my knowledge on both office management and human resource practice. I was able to practice on how to organize meetings, telephone calls that has to be made, writing cover letters, how to organize interview and many others.
Another positive experience that I gained working with MOP Microfinance limited will surely give me an advantage when competing with other recent graduate for professional position at the job market.
The internship programme has been an intellectual experience, and as a Management Student who is aspiring to be a better manager in any organization, the internship has offered me the opportunity to essentially customize my placement in order to gain valuable work experience in my areas of interest.
The internship also gave me a great experience as I was able to meet and interact with prominent people in the society and also get to understand how Microfinance’s actually operate. I also got to learn directly from a very well and respected person in the organization who help and taught me so many things that I need to know in the office.
Q. 8 ii
The experience that I encountered which were contradictory to the theory of the organization was when there is embezzlement of funds in the organization and nobody knows the causes of that particular problem.
During my internship programme I realize some of the markets fail to return money paid to them by their client. This made the company to loose a lot of money. This programe came about because of poor management system and poor records.
Whenever client payment are given to marketers to make delivery to client, there is no follow up made to check whether that particular payment has been made or not.
Also individual account was not monitored. This because client where not giving much education how to frequently check their balances to see whether it correspond with what has been recorded in their “susu or savings book” which we call passbook.
And what I suggested and was able to decrease the problem was to register all payment that goes out of the company so that management can keep truck records of any marketer who took payment on a particular day, so that if that payment is not delivered that particular marketer will be questioned.
Challenges that need an intervention
More than Thirty (30) microfinance institutions in the country collapsed in the first quarter of this year as a result of their inability to sustain their operations.
Customers with huge deposits with those institutions could not get a refund, as the owners could not be traced, or where they were traced, they failed to raise the requisite funds to pay the customers.
This is because marketers who go round to collect money from their client fail to bring the money to the company.
Because of this problems face by so many microfinance in the country, it very difficult to get new client when marketers go to the field, this is because client thinks that some microfinance companies are established with the sole purpose of duping them, so they feel reluctant to contribute whenever we talk to them about savings.
The line of communication in MOP Microfinance is one of the major challenges that need to be change in the company. The way managers or superiors communicate with employees in the organization is very poor which sometimes makes the employees uncomfortable in the organization.
Responsiveness: A corporation has to be responsive to the challenges and threats that it faces from within the internal or external environment. It requires quick responsiveness to meet the challenges and opportunities arising out of these changes.
Positive Work Environment and Ethical Behavior need to be improved in the organization. The way employees are being treated in the organization should be improved in other to create a good and conducive environment for the workers which will enable work efficiency in the organization.
Gain Work Experience: First and foremost, internships have helped me gain experience. The Classroom knowledge that I have gained at Central University has prepared me for the job market because knowledge in an industry is what attracts employers. A graduate with no working experience finds it difficult finding a good job.
Create a Competitive Edge in the Job Market: This is probably the biggest advantage. The experience I have gain will give me to be at a very competitive edge when l start my job search. I will have concrete examples of work experience to discuss during my interview. A guaranteed question during an interview will be about my work history and internship experience. For which I will be also to take what I have learnt in the classroom together with the internship experience to apply at the workplace.
Networking Opportunities: One of the most popular ways of finding a job is through networking. Doing an internship significantly increases your networking opportunities by connecting with professionals in any chosen field. Networking also allows to develop references who can attest to your abilities.
Job Transition: What better way is there for an employer to test a potential employee than through an internship? This “try-before-you-buy” approach is a significant advantage for the employer and can easily lead to a full-time job. Successful interns are frequently offered permanent employment at their internship site after graduation.
Decide if a Field is Right for You: You can research the industry, but there is no more effective way of finding out if you like something than actually doing it. You also get all of your questions answered by industry professionals while being immersed in the field.
Apply Classroom Knowledge to the Real World: Preparing academically for your career shows your intelligence and ability to learn, but internships give you the opportunity to apply your knowledge to the real world and develop your qualifications.
Develop your Resume and Build Confidence: A robust application (often a resume and cover letter) and a powerful interview are ultimately what set successful candidates apart in the job search process. Internships help me prepare both by giving my experience and skills to build a strong resume and the confidence to give an outstanding interview. When you discuss your knowledge, skills and abilities, you will speak from experience, not conjecture.