- 20 Marks
MP – JUL 2020 – L2 – Q1 – Challenges and Strategies for Agya Savings and Loans Company
Case study on addressing performance challenges in a Ghanaian savings and loans company, including internal factors, strategies, managerial functions, and lessons for SMEs.
Question
The Board of Directors has appointed you as a Chief Operating Officer of the Agya Savings and Loans Company Limited in April 2020. The Agya Savings and Loans Company Limited has seven (7) branches in the Greater Accra Region and employs sixty-five (65) staff serving over Two Million customers. Evidence shows that the Agya Savings and Loans Company Limited has experienced underlisted challenges between 2011 and 2019: • Net Profit after Tax per employee has reduced by 18%; • Market share has fallen by 12%; • Customer complaints rate has increased by 25%; • Employee absenteeism and lateness are rampant and alarming; and • Employee team spirit, motivation and morale are low.
As Chief Operating Officer of the company, strategies to address the challenges of Agya Savings and Loans Company Limited within three (3) years are welcome.
REQUIRED:
A. List and explain five (5) internal factors that have contributed to Agya Savings and Loans Company Limited level of performance in the banking industry?
B. Explain five (5) strategies that can be employed to improve performance level of Agya Savings and Loans Company Limited?
C. Explain five (5) managerial functions and roles required to enhance competitiveness of Agya Savings and Loans Company Limited?
D. Explain five (5) lessons that can be shared with promoters of Small and Medium-Scale Enterprises (SMEs) in Ghana?
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