Organizational Culture Assignment : Vallibel Finance Private Limited
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Added on 2021-04-27
Organizational Culture Assignment : Vallibel Finance Private Limited
Added on 2021-04-27
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Table of ContentsEXECUTIVE SUMMARY............................................................................................4LIST OF ABBREVIATIONS........................................................................................5TASK 01...........................................................................................................................6PART 01...........................................................................................................................71. Vallibel Finance Private Limited Company.............................................................7Range of products and services.....................................................................................7Main competitors:...........................................................................................................8Vision and Mission of the Company..............................................................................9Part 02..............................................................................................................................9SWOT Analysis...............................................................................................................9PESTLE Analysis..........................................................................................................10Porters 5 force’s Analysis.............................................................................................11Part 03............................................................................................................................11Strategic issue in vallibel finance plc...........................................................................11Factors for divining for change...................................................................................12TASK 2...........................................................................................................................13Change Management.....................................................................................................13Change leadership.........................................................................................................13Organizational Culture of Vallibel finance plc..........................................................13Challenges faced during the implementation stage of the change............................14Stakeholder Analysis....................................................................................................14Identifying the stakeholders to the change & their relative importance to the change15Models for strategic change.........................................................................................16Lewin’s Change Management Mode...........................................................................16Kotter’s Eight Step Change Model.............................................................................17TASK 3...........................................................................................................................18Recommendation and conclusion.................................................................................18REFERENCES..............................................................................................................20SWOT Analysis.............................................................................................................21APPENDIX 01...............................................................................................................21PESTEL Analysis..........................................................................................................22APPENDIX 02...............................................................................................................22Porters Five Force Analysis.........................................................................................25APPENDIX 03...............................................................................................................251 | Page
John Kotter’s 8 step management plan to manage the change successfully: -........28APPENDIX 04...............................................................................................................28EXECUTIVE SUMMARYIn this report mainly discussed about how to respond the challenges of change in the financesector of Sri Lanka. Therefore, the Vallibel Finance Public Limited Company has beenselected, since it is one of the leading finance companies in Sri Lanka.This report contains the reasons why VFL needs changes. Further this report includes theanalyzing of internal and external factors of changes, implantation of a digitalization that wouldoffer more convenience to customers as well as to the management of VFL. Moreover, thisreport expresses about the way of managing changes in the organization, stakeholder’simportance and their influence that affect to the entire change process.2 | Page
LIST OF ABBREVIATIONSNBFI’s: Non-Banking financial Institutions of Sri LankaVFPLC:Vallibel Finance Private Limited CompanyWord countTask 011126Task 02878Task 03438appendix2021total44633 | Page
PART 011. Vallibel Finance Private Limited CompanyVallibel finance plc. is the one of the Sri Lanka's fastest growing financial institutions for overlast 5 years, offering wide range of financial solutions to its customers through their 33 branchesand eight services centers located in Island wide branch network. The company principalactivities are the granting of finance lease, hire purchase assert financing granting of mortgageloan gold loans mobilization of deposit and other credit facilities and related services in thefinance business .company has 979 loyal employs trained and develop to offer the highest levelof customer service and care (Vallbel Finance PLC, 2019).Table 1 : Size of the organization4 | PageTotal Asset TASK 01As per Yearended as31st march20202019change%total assetRsThousand 51,423,849.00 47,659,526.00 7.9total depositbaseRsThousand 29,243,913.00 25,436,258.00 15gross incomeRsThousand 9,695,306.00 8,724,530.00 11.1No: ofstrategiclocationNumber 41.00 40.00 HumancapitalNumber 979.00 923.00 Brand value(brandfinance)RsThousand 1,152,000.00 1,300,000.00 BrandrankingBrandfinance BBB A+ Credit ratingICRAratings BBB BBB 20162017201820192020- 10,000.00 20,000.00 30,000.00 40,000.00 50,000.00 60,000.00 22,767.0030,685.0038,406.0047,660.0051,424.00Rs.Mn20162017201820192020- 10,000.00 20,000.00 30,000.00 40,000.00 14,804.0017,864.0022,187.0025,436.0029,242.00Rs.Mn
Deposit product portfolioDepositFor general public and intuitional investorsLending portfolioFinance leasingMortgage creditsProperty mortgage loansVehicle loansPersonal debtsAutomatic Bank DraftWheel draftGold PawningBusiness loansLoans against fixed depositFor Working class executive employees, self-employed, professional, corporate clients and SMEsSource: Adapted from (Vallbel Finance PLC, 2019)Range of products and servicesTable 2: Range of products and servicesSource: Adapted from (Vallbel Finance PLC, 2019)Main competitors:The leasing products were dominated by the NBFI's in early year and then Commercial Banksstarted leasing as a product offer in their portfolio with Increase of demand for motor vehicleleasing sector in the country. Bank has a competitive advantage over the leasing rates sincethey can Offer low rates compared to NBFI's.1)Commercial Banks of Sri Lanka2)Non-Banking financial Institutions of Sri Lanka5 | PageTotal Deposit
Vision and Mission of the CompanySource: Adapted from (Vallbel Finance PLC, 2019)Part 02Generally, the financial industry of the Sri Lanka is rapidly changing due to vary reasons of thecountry. Therefore, it is vital to regularly monitor and inspect the behaviors of the industry mainlythe external and internal changes in order to accomplish the organizational aim and objectives.6 | PageTo change the financial landscape of our country, bringing more people in more areas to become stakeholders of a national reawakening .we are driven by relentless passion to seek out people who need helpOur world ethics involve working tirelessly to formulate and offer a financial product spread that understands the pulse of the people; our search is for excellences in all we do. Including accountability in financial stewardship and in our responsibility VisionMission
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