Evaluating The Business Change Process In This Assignment

Evaluating The Business Change Process in This Assignment You Will Prov

Evaluate the current business process of Beacon of Hope (BOH), a nonprofit organization providing microfinancing in a third-world country, specifically focusing on Ghana. Address issues related to application volume, processing times, approval rates, fund accessibility, fund tracking, and loan delinquency. Analyze the reasons behind prolonged application processing times, identify stakeholders involved in the change process, clarify BOH’s responsibilities toward these stakeholders, and propose criteria to evaluate the success of the implemented changes. Present your findings in a 15–17 slide PowerPoint presentation with detailed speaker notes and APA citations.

Paper For Above instruction

The mission of Beacon of Hope (BOH) to facilitate microfinancing aimed at empowering individuals in third-world countries has encountered significant operational challenges over the past two years, especially in Ghana. The core issues—prolonged application processing times, low application volumes, low approval rates, high business failure and loan delinquency, and difficulties in fund access and expenditure tracking—all threaten the viability of the program. A comprehensive evaluation of these issues, along with strategic recommendations, is essential for BOH to realign its efforts effectively and sustainably.

Assessment of the Existing Program and Necessary Changes

BOH’s current microfinance program in Ghana has not met its initial expectations. The low application volume—only 225 prospects received, compared to an expected 1,200—indicates a failure to attract sufficient interest. This could stem from cultural misalignments, ineffective outreach, or cumbersome application procedures. Additionally, the average processing time of 4–6 months greatly exceeds the planned 2 months, dissuading potential applicants and risking overdue or abandoned applications. The approval rate of merely 100 applications suggests overly stringent criteria or bottlenecks in the review process, further hampering outreach and impact. With only 15% of funded businesses still operational, a high failure rate indicates inadequate support, inappropriate loan sizes, or misalignment with local needs.

To enhance the program’s viability, BOH must undertake a comprehensive process reengineering—streamlining application procedures, improving applicant outreach, and strengthening the evaluation process. Simplifying documentation requirements, leveraging digital communication tools, and partnering with local organizations can facilitate faster applications. Implementing more flexible loan terms, offering ongoing support, and establishing a local financial oversight mechanism will improve business survival rates and accountability.

Analyzing the Reasons for Lengthy Application Processing Times

The delay of 4–6 months, compared to the targeted 2 months, can be attributed to several interrelated factors. First, limited local banking infrastructure complicates fund disbursement and verification, causing delays. Second, inadequate or inefficient internal workflows, including manual processing, redundant approval layers, and lack of automation, slow the review cycle. Third, cultural barriers such as language differences, mistrust, and unfamiliarity with digital platforms hinder smooth communication and data collection. Fourth, insufficient staff training on new processes or technology impairs efficiency. Finally, bureaucratic compliance requirements and lack of clear policies may contribute to procedural delays, further exacerbating processing times.

Stakeholders and BOH’s Responsibilities

Effective change management demands the active involvement of critical stakeholders. Key stakeholders include:

• Applicants and prospective borrowers: Their needs and feedback are crucial for designing user-friendly processes.
• Local financial institutions: Partnerbanks or microfinance institutions must facilitate timely fund access and disbursement.
• BOH staff and management: Responsible for executing the changes, training, and oversight.
• Local community organizations: Trusted entities aiding outreach and verification.
• Donors and funding agencies: Their support depends on transparent reporting and success metrics.
• Regulatory authorities: Ensure compliance with relevant laws and regulations.

BOH’s responsibilities include transparent communication, stakeholder engagement, capacity building, equity in loan access, accurate tracking and reporting, and adherence to ethical standards. By fostering collaboration and accountability, BOH can build trust, mitigate resistance, and ensure sustainable program success.

Evaluating Success of the Proposed Changes

Success should be measured through quantitative and qualitative metrics. Quantitative indicators include increased application volume (targeting at least 1,200 applications quarterly), reduced processing time (aiming for 2 months or less), higher approval and business survival rates (aiming for at least 50% operational businesses after one year), and lower delinquency rates. Qualitative assessments involve stakeholder satisfaction surveys, borrower feedback, and community impact evaluations. Additionally, monitoring financial accountability and transparency in fund disbursement and expenditure tracking will ensure ongoing integrity and effectiveness. Regular review meetings, data-driven decision-making, and continuous improvement strategies will help determine whether the implemented changes deliver the intended outcomes.

Conclusion

Correcting the operational inefficiencies in BOH’s microfinancing program in Ghana is vital for its sustainability and impact. By streamlining application processes, engaging stakeholders, and establishing clear success metrics, BOH can enhance its outreach, improve business survival rates, and promote financial inclusion. A systematic, culturally sensitive, and data-informed approach will enable BOH to adapt effectively to local needs and ensure its mission of empowering entrepreneurs in developing countries.

References

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• World Bank. (2020). Microfinance and financial inclusion in Africa. World Bank Publications.