Contribution To Organizational Development

This study material provides insights on the contribution to organizational development. It covers topics like researching and planning, organization's background, mission statement, values, and more.

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Contribution To Organizational Development

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Table of Contents
Introduction......................................................................................................................................3
Section1: Researching and Planning...............................................................................................3
Agenda of Meeting......................................................................................................................3
Organization’s Background.........................................................................................................3
Mission Statement.......................................................................................................................4
Values..........................................................................................................................................4
Organization’s Overall business plan and goals..........................................................................4
Organization Chart.......................................................................................................................4
Development Plan Brief..............................................................................................................5
Additional Information................................................................................................................5
Needs and Objectives of Development Plan...............................................................................6
Section 2: Organization Development Plan.....................................................................................6
Development goals and objectives and measures of success......................................................6
Key Personnel’s and their role in Plan........................................................................................7
List of Stakeholders and their demands.......................................................................................7
Strategy to be applied for gathering Stakeholders feedback.......................................................8
Risk Assessment..........................................................................................................................8
Part 2................................................................................................................................................9
Section 3..........................................................................................................................................9
Reference List................................................................................................................................12

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Introduction
The organization development requires some vital considerations and this brings in together
number of factors and other elements which makes the organization a transformed one. The
development of an organization is dependent on the marketing and the promotional activities
along with the quality of its services and other concerns. The working of the organization needs
to be planned in a manner that while working, the organization grows and develops through the
human resource and marketing teams actions.
Section1: Researching and Planning
Agenda of Meeting
The meeting has been planned with an agenda to meet the requirement of enhancing the
marketing prospect of the company that is of Prospa (Prospa, 2019). The reducing faith of the
customers on the online loan services and finances has been the reason for this meeting to be
held and thus, the main agenda would be to come with an accurate plan to accelerate the sales of
the company.
Organization’s Background
Prospa is a small but leading company of Australia which has been emerging in the recent time
due to its new technological product of online loan and in the world of digitalizing this idea has
been welcomed by the people in a positive and prospering manner. The company has been the
finalists in Tesltra’s Business Awards but didn’t won that award. Instead it won the Delloittes’
Fast 50 Award. The company won an award in 2017 followed by a 2018 award in the Financial
Times list concerning the high growth companies in Asia Pacific Region. The same year it was
enhanced by the award of clean sweep of MFAA Excellence Awards for being the Fintech lender
of the year (Prospa, 2019). These evidences reveals that the company has been quite progressing
in nature and the increasing credibility of the company has been favoring its growth too. The
technological finances has been gaining popularity along with the online products but there still
exist many people who do not believe or trust the online loans or finances. Prospa is a small
scaled business but the growth and the development which it as witnessed and ade has been quite
wide and broad in nature. The company also has various partners who has been sharing its vision

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which is to provide access to capital for the small sized businesses, having a desire to grow, such
as Reckon, Mortgage choice and Xero.
Mission Statement
The mission of the Prospa has been to provide the small and medium sized businesses with
immense finance in a smooth manner which would provide them with a wider scope of growth
and expansion (SmartCompany, 2019). The small and medium sized enterprises face the issue of
finances at large scale and this act as an obstacle to their growth which has been aimed by the
concerned company to solve it and remove the obstacle from each small and medium sized
business to grow.
Values
The values of Prospa could be stated as to change the way small business owners experience
finances. This reflects more of a vision than value but it reflects the value that the company has
been carrying. The value of the company has been to serve the small businesses in a way that
they get a channelized path to walk on and achieve their goals (Waddell et al. 2016). The
concerned company provides the small and medium sized businesses with a broad and wide scale
of planning for its future business and thus, the obstacles of its growth are removed.
Organization’s Overall business plan and goals
The organization has been carrying a plan of offering business loans between $5000 and
$300000 without any security and the person could access up to $100000. The business works on
a fast service and smooth functioning which is reflected in its work as the application on the
portal just takes about 10 minutes time and the loan gets approved the very day followed by the
funding received within 24 hours of application. The organization has been working on the
proprietary technological platform where the main focus is on the health if the business which
helps in determining the creditworthiness. The company has offered an initial public offering in
the month of May, 2019 and for the coming month it has a plan of commencing of ASX trading
which would be based on the conditional and deferred settlement basis.
Organization Chart

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Figure 1: Organization Structure of Prospa
(Source: Trorey and Cullingfor, 2017)
Development Plan Brief
The development plan of the organization would be based on the technological perspective of the
people of the country and the practices or actions which could help in inculcating the trust in
them that the online finances are trustworthy and it can be relied upon (Tomiettoet al. 2015). The
people have been avoiding the online finances because of the risk of transactionsand
authentication which could be built up through providing the people with the detailed
information on the path that needs to be followed for the approval of the loan (Baume and
Popovic, 2016). The plan would focus on the marketing and promotional activities of the
company so that the people could know about the company in a detailed form and the attraction
of the customers be sustaining.
Additional Information
The company has been known for funding about $1 billion with 97% of customer satisfaction.
The company has a wide range of products and it carries the features of following simple
process, faster decisions, all time available, and Australian owned. The company has been a

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leader in the industry of innovation which funded its first loan in the year 2012, and gained the
capability of providing the same day loan in 2013, and the implementation of the first Australian
small business loan securitization in the year 2015 (Prospa, 2019). In 2016, the company earned
a revenue of $22million, with growth of about 1074.8% , these facts reveals that within the three
years of the company progression the company has been enhancing its finances through
providing quality services and products.
Needs and Objectives of Development Plan
The development plan needs to be accurate and impactful which would help the company in
expanding its business and the increment in the ales would also be observed.
The objectives of the plan would be
 To provide a path to walk towards the expansion and growing business
 To increase the sales of the company with huge percentage along with sustainability
 To expand the customer base by huge percentage of addition
 To have a sustainable growth
Section 2: Organization Development Plan
Development goals and objectives and measures of success
As identified by Smyth (2018), the senior management of Prospa Australia has been recently
facing marketing issues of its company. Since it is a financial technology company, the company
requires to use new technologies to improve and automate the process of delivering quality
financial services to its customers (Marous, 2018). The customers of the company are not willing
to use the services can impact the company to a great extent. However, the implementation of
certain effective marketing strategies, this fintech company will be able to deal with the current
situation.
 The company requires mobile marketing which is one of the most effective ways to
connect with customers. The development of a mobile responsive site will help to rank
higher in online search results.

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 The use of social media will require to identify the market sector to directly target.
Advertising about the company and its services will help it to gain the attention of
customers requiring financial services.
 Apart from that, the right use of content will attract right customers. More than 45% of
the millennials prefer financial products and services to manage their financial situations.
Therefore, marketing efforts will be directed towards creating valuable content.
 The company needs to brand itself over the internet in order to engage with the target
audience.
 Fintech marketing majorly depends upon the ad campaigns as the companies require the
demographics, keywords, interests, and budgets to be highlighted in the ad campaigns.
 The role of influencers can be beneficial in terms of generating awareness about the
products and services of the company.
Key Personnel’s and their role in Plan
The key personnel in the company will be the marketing manager whose role will be to handle
all the aspects of promoting and selling the products and services of the company. Generally, the
marketing management team of a fintech company will be responsible for identifying the
strategy to increase the company's credibility in the market thereby improving the success rate of
the loan applications. Currently, the company has lesser marketing skills but with write data from
the online loan applications and sales enquiries, it will be able to gain the success rate (Financial
Review, 2018).
The digital marketing professionals hired by the company will help to accelerate the marketing
efforts of the company and improve the credibility in the market.
The Operations manager is also a key personnel as they manage the external relation with the
lenders and the vendors. The benefit of having an operations manager is that they can be part of
both production or marketing of the business. Also, they will help in moving ahead as per the
vision and goals of the business.
List of Stakeholders and their demands
The internal stakeholder for Prospa Australia are-

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Managers- The managers are responsible for planning, controlling and decision making process
of a company. Managers demand for internal controls.
Employees- Employees are the assets of the company and always look for better opportunities by
comparing with other organizations.
Management Board- The management is responsible and accountable to the stakeholders for
financial performance and therefore demand better recognition.
The external stakeholders of the company are-
Shareholders- The shareholders have vested their interest in the company and therefore have the
right to know about any recent development or changes in the company.
Customers- Customers are the most important stakeholders for any company and demand for
better quality products and services. They demand for better online loan services.
Government agencies- They help in the taxation process of the company and inform about the
national economic development and the policies to be followed.
Strategy to be applied for gathering Stakeholders feedback
Prospa Australia will start with scheduling and running stakeholder team meetings in order to
communicate their roles in the project. Issues like costs for marketing efforts, quality of the
services required to accomplish the project will be discussed in the meeting. The stakeholder
feedback and reaction will be collected to effectively communicate the results and outcome of
the project. Creating action plans on a regular basis will help to assess the risks associated with
the plan. The feedback will be collected by way of feedback forms, personal interviews,
meetings and surveys. This will be beneficial for the company as it involves identifying the
specific roles and responsibilities for resolving the associated issues raised by any of the
stakeholders through their feedback.
Risk Assessment
The company may face three most important risks which cannot be overlooked. As per BIS
(2019), Credit risk can be a difficult situation for the company as the borrowed money will be

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repaired late. Since the plan will be using additional intelligence such as the use of social media
behavioral analysis, the company will be able to assess the risk of a particular loan. There is also
market risk and as the market is volatile, it might be difficult for risk managers to avoid certain
risks associated. There is also a risk of operational risk which can be due to human error or
technological changes. Therefore, the company will require analyze a wide range of risks
associated to operational risks. As the customers are becoming more concerned with services and
overall experience they receive, it is important that risk managers identify customer oriented
solutions.
Part 2
Section 3
The report is based on the assessment and supervision of the organisational development plan
with regard to its implementation for the last three months. The feedback from Susan Bamford,
the Acting Chief Executive Officer of the company Prospa is positive thereby implying that it
would help the growth and development of Prospa by the virtue of such kind of plan in the
desired manner. However, there are certain changes to be made with regard to the organisational
development plan. The implementation of the plan must be done in an organised and systematic
manner so that the goals and objectives of Prospa are met in the desired manner (Smither,
Houston and McIntire, 2016). The appropriate strategy needs to be formulated and implemented
in accordance with the aims of the organisational development plan. It would help in the
elucidation upon the organisational development plan in an effective and efficient manner. The
time frame of the plan is also to be modified so as to meet the aims of the organisational
development plan in the desired manner. As a per the feedback provided by the Acting Chief
Executive Officer Susan Bamford, a proper schedule needs to be followed and adhered to in
order to complete the activities of the organisational development plan within the time frame
stipulated. It would lead to the favourable outcomes for Prospa in the desired manner thereby
implying comprehensive solution with regard to its overall modus operandi in an incredible
manner. As a result, the solutions to various kinds of problems in a timely manner would be
provided in a comprehensive manner. The people in to the respective tasks are to be engaged in
the desired manner so as to imply the qualitative results with regard to the organisational
development plan at the earliest possible manner accordingly as far as the timeframes are

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concerned (Rise and Steinsbekk, 2016). The budget must be maintained with regard to the
implementation of the organisational development plan as per the feedback provided by Acting
Chief Executive Officer. It is imperative that the aspect related to cost-effectiveness has to be
taken into consideration with reference to the observation made for the last three months in terms
of the implementation of the plan as reported. It is to be seen that the budget should not escalate
as far as the organisational development plan is concerned. It would help in the saving of the
financial assets of the company to a considerable extent. The process related to the supervision of
the plan in accordance with the feedback implies that the loopholes and grey areas are to be
detected and identified at the earliest so that the actions can be undertaken in the desired manner
with regard to the addressing of such loopholes and grey areas at the in the desired manner
accordingly. It would help in the implementation of the organisational development plan in an
effective and efficient manner. The key things in this regard are the aims and objectives of the
company which are to be within the ambit of the organisational development plan (Walker,
2018). The feedback implies that the goals of the company are in connection with the
organisational development plan as formulated taking account of its implementation for the last
three months as per the agenda of the company as far as the assessment in a proper and
appropriate manner is concerned. Such an evaluation has been carried out with regard to the
agenda of the company as far as its long term goals and objectives are concerned. The
supervision must make sure that the plan is not in deviation of the original agenda. The changes
also imply that the training must be provided to the people engaged in the plan. Such training
would involve the usage of the latest technology taking account of the trends in question. The
training has to be imparted in such a manner so that the people trained are well acquainted with
the ways to carry out the tasks with regard to the organisational development plan. In this matter,
the marketing team of the company has to be trained with regard to the management and analysis
of the data pertaining to enquires in relation to the sales and the loan applications made online. It
would help in the formulation and implementation of the desired strategy in a proper and
appropriate manner as far as the survival of the company in the market is concerned (McLean,
2018). The technology with regard to online financing has to be implemented in a proper and
appropriate manner so that the time and budget constraints are taken into consideration in the
desired manner. It would help in the online sales to be increased to a considerable extent and also
the processing of the loan applications at a faster pace. The process related to data collection and

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analysis would also be improved and developed as far as the effectiveness in the management of
data of the customers is concerned taking account of the organisational development plan and its
aims and objectives. The changes with regard to the overall functioning of the organisation are to
be incorporated into the organisational development plan the desired manner as implied by the
feedback with reference to the processes involved in the monitoring of the plan in an effective
manner (Waddell et al., 2016). However, there should not be any major changes with reference
to the organisational development plan as observed form the feedback. If there are changes to be
made in the plan, they should be made on an immediate basis in a subsequent manner in order to
prevent any major hindrances or obstacles pertaining to the plan. In this aspect, the
circumstances of the scenario are to be taken into consideration if there are no other alternatives
with reference to the changes in question. The evaluation with regard to the plan further implies
that the feedback provided has to be followed in the desired manner so that there are not major
issues in terms of the organisational development plan.
Conclusion
The plan of the organization development has been framed in an accurate manner through
considering each of the objectives of the plan and goals to be achieved by the company in near
future. The loopholes that the company has been trying to fix, has been met through providing
with plan which would sustain for a long time and it would contribute hugely to the company’s
future growth and development.

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