Chapter 7 Kiva Project January 16, 2009
Posted by pittarjd in Uncategorized.trackback
Yawa Irene Akpay was born in Agoe, Togo, a small town in west Africa. She has three children and at the moment unmarried. She is right now the retailer of grain in her area. She has seven years of experience working with grain and has the respect of many people in her community. She has positive feed backs from people who has done business with her. Her purpose of her business is to gain profit to feed her children. She recently took out a loan to buy 12 sacks of beans and 10 sacks of corn to replenish her stock in order to produce cereal.
One main thing Yawa needs to do is to figure out what is her mission statement for her organization. Once she found out her mission statement next step is to make a plan on how to reach her mission statement. There are two types of planning that Yawa needs to do so she can achieve her mission statement. One type of planning is called an strategic planning that is takes years for you to complete it. This plan basically establish the overall goals and applies to everyone in the organization. The other plan is operational planning which covers short peroid of time. This plan just specify the details on what need to be achieved.
Earlier I stated that in order to plan you need to first have a goals to set. There are three different types of goals to go from there are financial goals that deal with profit, strategic goals that deals with its external environment, then there are stated goals versus real goals that deals with statements that have anything to do with its real goals. The type of goal she needs to pick is financial goal because her purpose of her business is to make a profit so she can support her children. Now that she knew what her goals she now can make decide on how to plan that can give her the most of her profits.
Good job on analyzing how Yawa needs to start her business. Since Yawa has been in the business for seven years, it would also be good for her to make sure her goals are well-designed. If Yawa writes her goals down, make sure they are measurable and quantifiable, have a clear time frame to attain them, and communicate with her shareholders, Yawa could see how her business may become more efficient and profitable in the future. I agree that making sure she establishes the appropriate plans to meet her goals, would be the rock that strengthens her business.
I agree with a lot of what you have stated here. I have to wonder, though, is this plan of business going to be short term, or long term? Your recipient has done this for seven years, so I am confident she knows what kind of profit she can expect from this business. But right now, if she needs the loan to get the grains/stock supplies for cereal, is she going to make enough profit to pay back the loan and still be enough to keep ordering more, or is she going to need another Kiva loan?
Planning is a major part of having a business, I am sure if she plans everything correctly, she will be successful.
I agree with your post. Mission statements are a big deal and need to be clear when starting a business. It can help the business get to where it needs to be. I think that having a good mission statement and also having a strong commiment to her plans she can be successful
This post was informative and helpful. I agree with what you said about the mission statement, they types of planning and the types of goals. I think they are very crucial for a business owner. Your recipient needs to look at all the different ways she can go but, also realize that sometimes planning can change. It would be a good idea to have a directional plan so it is flexible and not a plan like specific because in that type of plan is just focusing on one thing and leaves no room for interpretation.
Since we are in the same group, I already knew about Yawa, and I think that she is very goal-oriented because she says in her statment about herself that she wants to get her business up and running and make enough money to support her and her chilren and I think that is a great goal. In order for her to reach those goals she will have to get organized with a startegic plan, like you said, and she will have to have a mission statement in order to have secured what exactly she wants to accomplish and have a plan for how to carry out those goals and that mission statement..
I agree with with what you said that if she plans correctly she will be successful. I think that no matter how long she has been in business she will need to have long term plans becasue there are always be some goals that will take longer than others so I believe that she will need to not only have long term but also short term plans.
I totally agree that aspects of planning techniques, and the creating of a mission steatement is important upon achieving success. With getting loaned money it is imperative to create a strategy in order to pay back the loan in a timely manner. Since Yawa has been in business for seven years I am confident that she does have an ideal of financing. She will need to develop both long-term and short term goals to remain successful.
I also agree on how if she plans correctly she will be successful. I think you always need a long term and short goal to have a successful business. You did a good job.