BUSINESS PLANNING STRATEGIES AND PRODUCTS DEVELOPMENTS FOR MICROFINANCE BANKS

Registrations are closed
Live-Online Training: N 145,125
Classroom Training: N 220,375
3 - 4 participants: 5% discount
5 or more participants: 10% discount


(Available also for Customised Training by Duration, Venue & Fee)

Programme Description:

It is true that the process of planning forces you to clearly analyze what you wish to accomplish, and how and when you can reasonably expect to accomplish it. The process also helps you to understand the factors that are critical to your microfinance institution’s success. Every Microfinance Bank should undertake Strategic planning and Operational planning.

Once a microfinance bank has developed its Mission, Vision and Values, the process of planning will help it to also develop Competitive and Marketing Strategy. This involves clarifying who the target market is and gathering market intelligence to understand market preferences, needs and habits and products and service offered by competitors.

Course Objectives

By the end of this training, participants will:

  • Clarify their institution’s Vision, Mission and Goals.

  • Create an action plan with objective targets and detailed projections.

  • Focus and mobilize the resources required to implement the action plan.

  • Strengthen their negotiating position with their sources of financing like donors, commercial banks and other funding sources.

  • Be able to determine Market intelligence and institutional strengths, which are key ingredients for Market positioning.

  • Understand the target market, ideal product mix and positioning in the market, which would help their institution to develop a Business Plan.

  • Appreciate correct Competitive position to enhance branding - actively communicating a value proposition that becomes associated with the MFB, all these helps to shape MFB’s image.

  • Be able to confidently adopt a more effective focus towards a Market -Driven or Client Driven Agenda. 

Course Contents:

DAY ONE

Introduction to Business Planning:

  • What is a Business Plan? 

    • Definition of Business Plan 
    • Types of Business Plan Reasons
    • Key Elements of a Business Plan 
    • Description of the Business 
  • Description of the Product and Service 

Market Analysis 

  • What is Market Analysis?

  • Competitive Analysis 

  • Operations and Management 

    • Financial Analysis of your Business Plan  
    • Supporting Documents 
    • Business Analysis and Strategic Planning           
  • Benefits of Strategic Business Planning 

  • Strategic Business Planning is an essential Tool 

    • Strategic Business Planning is Adaptable  
    • Strategic Business Planning is planning for change in increasingly complex environments.
    • Strategic Business Planning is part of Total Quality Management (TQM)
  • Factors that contribute to the success of strategic Planning 
    • How do we organize the Planning Process.
  • Who should be in the Strategic Business Planning Team. 
    • Programme Managers
    • Supervisors
    • Field Managers
    • Financial or Budget Managers
    • Branch or Unit Managers
    • Human Resource Managers
    • Information system Managers
    • Planning Coordinator
    • Field Staff - Marketers
    • Internal Control Staff/Quality Coordinator

 

  • Develop Financial Projections.

  • Implementation of the Plan

  • Why do Strategies (so often) Fail

  • Guidelines for Deploying Your Strategy

  • What is KOGMA Analysis

  • Evaluating & Evolving the Business Plan

  • Personnel Development

 

DAY TWO

Introduction to Product Development 

  • Understanding the MFB Product Development Process

    • Precondition for real Product Development 
    • Importance of Product Research 
  • Understanding the Market 

  • What are the MFB Markets 

  • Framework for Strategic Marketing Plan Development

  • Product Development Process 

    • Developing New Products 
    • Our old Products and services 
  • Stages of Product Developmental (New and Redesigning Existing ones)

Opportunity Identification, Analysis and Evaluation.

  • Institutional Assessment, 

    • Market Research  
    • Concept /Prototype Design  
  • Pilot Testing 

  • Product Evaluation

    • Financial Viability 
    • Competitive Consideration …. Market Share
    • Institutional factors …. Infrastructure, MIS HR 
  • Product Pricing 

  • Effective Rate of Interest 

  • Product Launch and Roll Out

  •  Product Life Cycle.

 

DAY THREE

Top 10 Lessons for Successful Product Development 

  • Solicit feedback through the process to continually refine the product.  

  • Provide appropriate training and incentive to staff to ensure effective implementation.

  • Identify a product champion who will maintain momentum throughout the development process.

  • Principals of Savings Mobilization 

  • Group /Association formations 

    • Establishment of formal and informal groups.
    • Group Meetings and Leaders of the Groups. 
  • Evaluating the Results of the Products and Services

    • Evaluation and Feedback. 


Date & Time
Wednesday
January 10, 2024
Start - 8:30 AM
Friday
January 12, 2024
End - 3:00 PM Africa/Lagos
Location

Tom Associates Training

5/7, Alade Lawal Street, Opposite Anthony Police Station, Off Ikorodu Road, Anthony Village,
NG-LA
Nigeria
+234 817 859 1654
+234 809 276 3968 | +234 810 365 2225
tomassociatestraining@yahoo.com | info@tomassociatesng.com
Get the direction
Organizer

Tom Associates Training

+234 817 859 1654
+234 809 276 3968 | +234 810 365 2225
tomassociatestraining@yahoo.com | info@tomassociatesng.com