Week 7

Quick Loans Services Limited

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Part One

Quick Loans Services Limited is a company that was created in the year 2015 by a group of 50 individuals and was registered in the year 2016 under the Company’s Registration Act as spelled in the constitution. Since its establishment, the company has been using the name, Quick Loans Services Limited and its registered capital has since increased from 1million USD to 3million USD. The quality and efficient services delivery in the company have resulted to this significant achievement (Richard, M., Ismael, N., & Shukla, J. (2016).

The company is located in the northern sides of California. Most of the company’s clients are doing small businesses. The location of the company is surrounded mostly with the private workers who are not employed by the government; hence the company’s esteemed targeted customers. The company’s management is chosen by the owners. Its main vision is to provide financial services to customers at affordable interest rates. The company’s main activity is based on loans and savings. The targeted customers are the low income men and women besides self employed individuals. Purposely, the company aims at alleviating poverty levels besides mobilizing savings among its members. The ghetto living individuals in North California can also be helped by this company (González, M. J. G., & González, A. L. (2015).

Investment operation; this is the main activity of the company, giving out micro projects loans to small financial businesses is an example. Saving; its members can also be saving some money into the company’s saving accounts and later the company issues them with interest. Personally, I worked for the company for the last one and half years as a financial analyst and advisor. The main aim of the company being poverty alleviation besides making profits, there are some factors affecting its performance and that I could like to address them in the next section.

Part Two

According to my investigation; the company is expressing experiencing a problem in its change of performance. Bearing in mind that the company goals is to make profit and poverty alleviation; it’s very evident that even if it’s not making losses, its effective progress has been hindered due to the performance change problem. Organizational performance refers to the actual output of an organization as it’s measured with reference to its intended goals and objectives. It’s also how well the company is doing to achieve its set goals. The performance change involves many factors including; employee performance, strategy, stakeholders, shareholders, competitors and the customers (Forsgren, M., & Johanson, J. (2014).

Employee performance is very crucial for an organizations success and profitability in its changing environment. In the recent world, organization requires employees who contribute more apart from their job scope and the expected goals. Even if an organization might be facing many problems, employee performance must be closely watched. For Quick Loan Services Limited to successes more, investing in their work force by maintaining long term relationship with them will increase their performance. Also enhancing the employee job satisfaction can greatly impact positively to the company’s results. To increase the employee’s performance, the company should avoid mental stress besides increasing their loyalty to the company.

Poor strategic measures from the company management as far as sales plan and forward movement of the company has also greatly hindered the progress of the company. Since strategy is a terminology aimed at ensuring that the company goals and objectives are achieved, its accurate embracement in the company will depict the positive progress of the company towards achieving its objected goals. For instance adapting to changes in the legal market is a positive impact to the company if it can adopt new strategic ways. Since internal employee resistance can be a barrier to implementing new strategies, good relationship between the company and the employees need to be established first before implementing the new strategy in Quick Loans Services Limited (Dutta, S., Verma, A., & Viswanathan, B. (2014).

According to my investigation, there happened to be no existence of good relationship from among all the stakeholders of Quick Loans Services Limited. This comes as a result that there are others who dominate in decision making. It’s very crucial to note that, agreement between all the stakeholders will boost the company’s progress in terms of the objected goals and even in profitability of the company. The Quick Loans Services Limited stakeholders include; the clients, employees, investors who happen to be the shareholders and the regulators and market supervision bodies of North California State. It’s up to the management of the company to ensure that all the above listed stakeholders holds a one table meeting before coming up with a conclusive agreement on any decisions to be made. This is when the company will progress without any obstacles (Breidbach, C. F., & Maglio, P. P. (2016).

Shareholder; a shareholder refers to an individual who owns at least one share of stock in Quick Loans Services Limited. It should be emphasized that a shareholder can either make profit or lose depending on the company’s output in each financial year. For this reason, all the shareholders of Quick Loans Services Limited need to be aware of either a loss or a profit at the end of any financial year. This is necessary because a shareholder may be anticipating to earn at the end of the year only to find a loss and others might be frustrated even to an extend of withdrawing their shares an action that might be very dangerous to the company.

Other crucial factors to be considered are the company’s worth competitors and also the customers of the company themselves. The company must adopt the trends in the changing technology for it to sustain the competition from other companies offering the same services. Minding the way the customers are treated will also ensure that they remain to be the loyal customers to the company or not (Da Silva, A. D. R. (2018).

References

Breidbach, C. F., & Maglio, P. P. (2016). Technology-enabled value co-creation: An empirical analysis of actors, resources, and practices. Industrial Marketing Management, 56, 73-85.

Da Silva, A. D. R. (2018). Business model change for products and services based on the Internet of Things: A multiple case study.

Dutta, S., Verma, A., & Viswanathan, B. (2014). U.S. Patent No. 8,806,015. Washington, DC: U.S. Patent and Trademark Office.

Forsgren, M., & Johanson, J. (2014). Managing networks in international business. Routledge.

González, M. J. G., & González, A. L. (2015). Strategic planning and change management. Examples of Barcelona, Seville and Saragossa (Spain). Bulletin of Geography. Socio-economic Series, 29(29), 47-64.

Richard, M., Ismael, N., & Shukla, J. (2016). EFFECT OF EVALUATION ON PROJECT PERFOMANCE: A CASE STUDY OF MILLENIUM VILLAGES PROJECT IN BUGESERA DISTRICT. European Journal of Business and Social Sciences, 5(07), 217-226.