BUSINESS PLANNING STRATEGIES AND PRODUCTS DEVELOPMENTS FOR MICROFINANCE BANKS
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.