The company to be scanned is named albrim microfinance and the nature of its business is dealing in savings, loans and investment etc. the firm is located in the busy section of accra specifically in okaishie. In conducting an environment scanning of the firm, the analysis will be done on the microfinance industry to ascertain the level of opportunities albrim as a firm can capitalize on and the threat that the environment poses to the success of the firm.
The environmental scanning is conducted using a method known as the SWOT analysis. The SWOT analysis is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. The strength and weaknesses can be identified…show more content… The customers of the firm are mostly big enterprises and these who involves in wholesaling and retailing of the products so the company has relatively adequate customer based. Even though there have been several microfinance companies that have been in existence such as midland,abii nationals etc. albrim has been able to penetrate the industry due to its core competencies such as affordable interest rate, motivated workforce, competent personnel and the fact that it is situated at the strategic location. The opportunity available to albrim to capitalize on include; ability to tap a lot of customer bases that other microfinance company have not thought about, such as student, head porters market women and also low skilled personnel etc. these people have the potential to increase the market shares of the firm and if it is able to capitalize on such opportunities, it will surely succeed. The economic conditions in the country can also be an opportunity if albrim is able to provide a favorable and affordable rate for it…show more content… The next source of opportunities is the Political and Legal forces and factors that exist in the geographical area of operation. Firm are bound by regulations, government policies and laws enacted within the industry and it is the same for Albrim. The government policies concerning money transfers and credit transfer can provide opportunities for the company when there are there exist government policies that protect and promote Ghanaian owned financial institutions to be the sole financial institutions that are permitted to provide and undertake the business of money transfer and credit transfer within the country. Thus with such government policy, Albrim can have that opportunity to provide such services with less competition and rivalry from other financial institutions especially the foreign owned and run Financial institutions within Ghana. However the stability in government’s policies is key to the free and continual operation of the Business. This is because, there more there exist rapid variations in government policies then the higher the uncertainty that follows and may prove to be very dangerous for the planning and further investment of the