Department of Business

Permanent URI for this community

https://hdl.handle.net/20.500.12311/1470

Browse

Browsing Department of Business by Author "Everine Apio"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    Strategic Management Practices and Organizational Performance: A Case Study of Centenary Bank, Soroti Branch
    (Uganda Christian University, 2024-07-29) Everine Apio
    The main purpose of carrying out this study was to analyze the impact of strategic management on organizational performance, case study of Centenary Bank Soroti Branch. The objectives of the research were to analyze the influence of financial technology system on daily loan tracking backed by staff and customer incentives, to ascertain the influence of individual micro-lending as the Bank’s sole lending technology and to establish the influence of financial services and outreach in Centenary Bank Soroti Branch. The findings indicate that FinTech represents a novel financial model, combining technological innovation with financial services shows over 60%, It employs emerging scientific and technological means such as online settlement, mobile payments, and cloud computing to extend various financial services, including account settlement, investment management, and credit facilities gave 64% responses, Creating opportunities for the banking industry to integrate pioneering FinTech solutions, reduce costs, enhance flexibility, attract deposits and promote financial inclusion 73%, Assessing banks’ management efficiency in attracting more deposits from current and potential clients. The poor represent the largest share of the population and that the informal sector is an important part of the economy over 97%; Designate financial institution dedicated to assisting small enterprises, the poor, and households who have no access to the more institutionalized financial system, in mobilizing savings, and obtaining access to financial services 91%, In a group-lending contract, each borrower obtains a loan for her/his project and the liability can be joint; this joint liability induces group members to self-select each other and provides an incentive for peer monitoring 88%, Small borrowers in the group lending have perfect knowledge of each other 94%. Centenary has introduced agricultural lending in Soroti Branch 99%; The approach is prudent and gradual to its customers 100%; Areas of operation are determined by a team of loan officers on the basis of the commercial potential of the crops grown, soil quality, rain fall, accessibility, and cultural factors of entrepreneurial and financial behavior 90%; The loan officers held customer education training sessions in the local language on all relevant aspects of banking, which were deepened in loan sessions at the time of disbursement 100%; Particular emphasis of financial services is placed on the importance of timely repayment and the associated incentives 90%. The research recommends that Centenary Bank can maximize the benefits of integrating fintech into its daily loan tracking operations while fostering a culture of innovation, efficiency, and customer-centricity while focusing on Staff Training and Incentive, Customer Engagement and Education, Enhanced Data Security and Privacy and Collaboration with Fintech Partners. Centenary Bank can maximize the positive impact of individual micro-lending, empower borrowers, and contribute to economic development and poverty alleviation in the communities it serves. Individual micro-lending can indeed have a significant influence on Centenary Bank's operations and its impact on the community it serves. The bank plays a crucial role in the economic development and financial inclusion of its community. Centenary Bank can strengthen its financial services and outreach efforts, thereby contributing to the economic development and well-being of its community