Attachment Report: Kenya Seed Company Limited Essay

As per the requirement of the Bachelor in commerce and economics hunt structure, I was obliged to undertake an industrial concomitant at an fix of my selection for a period of eight weeks. This exercise was meant to enable me glamatise with proceed purlieu, exercise aptitudes and intimacy explicated in university and gain more compe cardinalce in my area of specialization. The diligence process begun as early as three year 2nd semester and I must say it was not an lite task because I cant count the number of exploit I made done both letters and e-mail uncoiled to say, opportunities as it has been penned down knocks stars at every mans door or a womans door if I am allowed to appreciate sexual morselivity parity. If not so they come ones in a blue idle and as somebody with superior minds has advised, in order for one to acquire this rare commodity he/she has to keep jumping and if any comes crosswise in the process of jumping grasp it and capitalize on it.I would l ink these wise words to be me being accorded an probability to ladder and exercise the skills and noesis that I croak acquired with the years I have been undertaking my under-graduate degree programme at the Institution of spheric excellence in Training, innovation and development(JKUAT). As explicitly indicated in the screenland page this rare opportunity was accorded to me by the Trans-National strand Management. I began my industrial appurtenance on 13th of June 2011 to 26th of August 2011.This trans recents to around ten weeks.The first day basically involved an orientation programme where I was taken through the various subdivisions in the pious platitude and introduced to the mental faculty members. The parts that I was taken through were customer do by, clearing division, cash department, selling department and credit department where I gained under the supervision of the kickoff passenger car Jacinta Ndolo and school based supervisor Dr. Margret Oloko. I must say that it was an enkindle opportunity transactioning in an shaping which forms part of the pillars of the economy. In one way or an an early(a)(prenominal) I k refreshed I would extend my go in economic building while in that respect. These may probably be evidenced in the duties that I leave behind perform.2.0 Objectives of the fond regardThe main(prenominal) objectives of the attachment were as follows* Impact and allow the learner/ disciple glamatise with the work environment through partaking accorded billets and duties in the organization. This forms a good base for their future placement in the work industry.* It acts as a measure where student or an individual can relate what has learnt and what is on the ground in that locationfore adequate a gauge for his/her future success in the chosen country specialization * Beside what is learnt in the university, the student gets an opportunity to acquire more skills and knowl beach * Gives an opportunity for an individual or the student practically exercise the theoretical part learnt in school or at the university. * Attachment is same(p) a pace setter for an individuals or the student future work. That is the student knows where to position him-self or her-self in the grocery store. * It in any case forms a good basis for the organization employee go forth-sourcing processes because from the interns they are able target potential future employees for the organization. * give lessons courage and sense of responsibility in the students even as they direct to render job opportunities in future3.0 Mainframe of the report3.1 popular description of the organization and the departments where attached. 3.1.2 Brief History of the organization and its roleTrans-national Bank al shipway abbreviated as TNB is a private company which came into population in 1985 as a SACCO. In the late 80s it was fully chattered as a private bank that would provide both soulfulnessal banking operate and assist banking go in the nation of Kenya. It has excellent products for small beak holders and offers congestion free banking, innovative and responsive products and services, affordable bank charges and accelerate in decision making are its strong headspring all over competition. 3.1.3 Physical Address of the giving medication.Trans-National Bank (Kirinyaga Road assort. P.o Box 69963-00400 TOM MBOYA NAIROBI, KENYA TEL224235/6, 252188-90 e-mailmanagerkirinyagardtnbl.co.ke3.1.4 Vision and Mission of the BankThe organization is driven by a number of factors which include their vision and mission. These driving propels are as out-lined on a lower floor VISION To be the regional financial service provider of choice MISSION readiness of convenient financial services and solutions to customers through gamy standards of service while increasing stake holders value.3.1.5 The Core Values of the OrganizationProfessionalismIntegrityEfficiencyInnovationTeam workGood cooperate gov ernance and social responsibility.3.1.6 The role of the organizationThe main and core role of the organization is s impeach provision of banking services in the republic positivist engaging incorporated social responsibilities 3.1.7 Expectation of the Organization.The bank plans to win a large personal banking clientele over the coming years and touch to expand and spread its wings across all the corners of the country. The bank also expects that its net profit is personnel casualty to continually rise year in year out. Beside this it also expects that its market team will continually look to come up with tailor made products for its customers3.1.8 Structure and Management of the organizationLike any different organization it has a structure of forethought composed of the Directors, chief Executive officer(C.E.O), Audit committee, Credit committee, strategy committee, put on the line committee, Assets and liability management committee, world resource committee, secretarie s, Registered Office, Auditors, Advocates, managers, operations officers and staff members. The higher up can be summarized by the table belowThe Board of directors antique Executive OfficerAudit committeeCredit committee dodging committee Risk committee Assets & Liability committee Human resource committeeSecretaries Registered office Auditors AdvocatesOperations Officers IT committee Tellers &cashiers other staff members3.1.9 The Organizations BranchesThe head office is in Nairobi (Trans-National Plaza) city student residence way. The company boasts of several branches across the country ranging from Nairobi Branch(city hall way)JKIA branchKirinyaga Road BranchEPZ(Export Processing Zone)Mombasa BranchMombasa International Airport BranchEldoret BranchNandi Hills BranchKericho BranchNakuru BranchKabarak BranchOlenguruone BranchKabarnet Branch, boyfriend Karume branch among others3.2.0 The Services and Products being offered at the BankThe Bank offers a variety of services an d products ranging from Current accountsSavers fibsTransaction Account,Mshahara Account (Salaried individuals)Mrembo Acount (Ladies Account)Msomi Account (Students Account)Angels Account ( Childrens Acount)Investment Account,Hazina Account (Self Employed Individuals)Mint Account,Fixed Deposits fleet RemmitancesStanding Instructions,Air Time Top UpSMS Banking e.t.c.4.0 discussion sections at the organization.The main departments found at the station where I was attached and I happened to cover across were as follows. * The customer care Service* The marketing department* The clearing department* The cash Department* The credit department5.0 popular activities Undertaken in the Organizationfile of account receptiveing forms for clientsFiling of RTGS( square Time Gross Settlement Forms) and their confirmation Memos Filing of TTS( Telegraphic Transfers Forms)Filing of clearing documents, halt book request forms, expenses receipts e.t.c Issuing of hinderance books and recording t hemPhotocopying and printingTurning on and off the systems, setting them up and commonplace updating of the softwares. Documents and parcels manner of speaking between the branch and main Head Quarters at the Central Business District (C.B.D) air taking (That includes posting of all received stock i.e stationery in the system) Assisting clients fill the BRITACK (British American) I.P.O (Initial Public Offer) forms.6.0 Specific activities undertaken during the attachmentThe core activities were undertaken at departmental take aim during the period of attachment and they are as stipulated below. 6.1 The customer care service Department tending to global inquires from clients/customers.Availing account balances and statements of accounts to clients Assisting new clients open new accounts.Closing of in-active accounts.Activating of de-activated accounts upon clients request.Updating clients accounts.The Marketing Department.Marketing the organizations products and services within t he branch area and Nairobi environs in general Visiting both present and potential clients at their telephone line set forth to find out their progress, challenges facing them, seeking their opinion on the level of satisfaction and possible improvements on our products and services. Preparing call reports after every marketing outing.Phone calls to unreached clients during call visits for up assures or follow up exercise. Attending marketing meetings with the marketing managers.Providing a readily unattached, service-focuse, knowledgeable and experienced point of contact for new customers. Cross-selling the banks products in effect.Identifying customer needs effectively and open new accounts accordingly.Managing the customer portfolio which comprises of high net worth local anesthetic investors Updating and continually maintaining KYC (Know Your customer) on all clients held in our portfolio, including up to date information on clients financial cover songground. Identifying mar ket for the organization6.2 The clearing DepartmentReceiving and verification of chequesRecording of unpaid chequesIssuing and recording of bankers chequesRunning the cheques through Checkpoint Truncation System (CTS).This involves capturing the images of all cheques through a scanner, undertaking measuring stick entry, verification and generating their commission. Posting of cheques inOMNI (Omni is network that allow posting of cheques online so that respective recipients can access them wherever they are. Undertaking TR (transfer) this is done for inner cheques and is simply transferring the money from drawers account to the payee account and the same employ to KRA(Kenya Revenue Authority) tax remittance by clients. Recording of received cheque books, issued ones and balancing the books on daily basis. choose cheques in order of bank codes and amounts in preparation for cross checking with the Outward Clearing Report (OWCLG).6.3 The gold Department* Organizing Cashiers cubicl e, stamps in readiness of the day. * Acquiring controlled fit cash at the start of the day. * Scrutinizing cash withdrawal cheques and slips for nicety in advance accepting them. * Scrutinizing cash/cheque deposit pay in slips for correctness of technical details onward receiving. * Forex transactions i.e. buying and selling of orthogonal echange * Verifying customers signature.* Paying cash within the intimidate and referring cheques for limit authorization. * Posting of cash deposits, withdrawals and Cheques for local clearing. * Issuing of Bankers cheques.* Sorting of soiled notes.* Assisting in cash confirmation ready for seal and lodgment. * reservation references to the operations manual to ensure compliance. * Reconciliation of accounts as assigned by the branch Manager * Any other cover charge office work assigned by the branch manager.6.4 The credit DepartmentThe credit department basically deals with provisions of gives and asset financing to the clients. The cor e activities involved Receiving loanword application forms/documents from applicators.Analyzing, scrutinizing and assessing their loan documents which include their securities. Undertaking account statistics which include analyzing applicants transaction turnover, commissions, interest and ledger fees. Making call visits to applicants business premises to ascertain thefollowing facts as part of loan act process The location of the business and their officesThe type of business one is operating(a) i.e. company, partnership, sole- proprietorship e.t.c The description of goods and services being offered by the business e.g. Hard-ware, stationery, Hotel, e.t.c. The major suppliers and customers of the loan applicantWhether they do any importation or exportingThe mode of payment to suppliers i.e. through cash, cheques,TTs(Telegraphic Transfers) or RTGS(Real Time Gross settlement). Their new investment plan i.e. new products, fixed asset acquisition , , how want they have been in bu siness, the expectation from the investment and if they have had any changes since their establishment. The appoint management number of employees and their qualification. After all this exercise I was pass judgment make an appraisal report for the applicant in conjunction with other members in the credit department. This would then be passed to manager for approval before being forwarded Head office. 7.0 A profile of skills and competencies gainedI must avow that during this period numerous skills and impartment was gained and they are as outlined below win im be my communication skills as being most burning(prenominal) skill through interacting with clients through marketing exercise, customer service department and general communication to clients in the departments that I worked Handling of bulk cash including verification, sorting, sealing e.t.c Never new much about loan procedures but got an opportunity to know them as has been stipulated under the activities under-taken in the credit department. Writing of bankers cheques was a key skill gained. Never in my life had I write one. More to it I learnt that bankers cheques permit no alteration of any magnitude because if it goes with alteration chances are high that it will bounce. Preparation of call reports and appraisals for loan applicants and new customers was also a key thing that I learned. How to identify original and fake cash by observing certain features through a special cash scanner.8.0 Activities which I applied my skills for the benefit of the organization. cosmos through a learning and education system, I came to agree that it is an infixed and critical instrument in an individual life and as legion(predicate) institutions would phrase their mottos and vision, true to say education is key, light or route to many things in an individuals life. Therefore to me the skills I have acquired in institutions of learning enabled me serve the organization in the following ways My communicati on skills enabled me to owe a number of new clients to the organization during the marketing spree and while at customer service. The electronic computer skills that I gained ahead in my life also enabled me solve a few computer errors and software hitches at the organization. The courage I have accrued by embracing leadership positions enabled me interact with clients of all personalities. Through entrepreneurial knowledge gained in university I was able to make significant and immense division during marketing and other staff meetings for branch evaluation and addressing pressing issues.9.0 outline for utilization of the contacts established during attachment Serving at the branch as an intern enabled me to expand my public relation territory by a significant percentage. I have brushed shoulders with people of divergent personalities and timbre both during office work and during marketing sessions and call visits. This exposed me to the market and thus I believe was able to p osition myself well in the job market. Therefore the contacts, I believe will give me an edge both now and in future as I seek personal and societal establishment. The ideologies also gained through contacts will be used in constructive manner through the daily processes that I will be undertaking or engaging myself in. 10. 0 Challenges of internship.Getting the attachment in the first place was a major hurdle that was unwieldy to jump across. Many application were made but almost 90% were almost unfruitful Expenses incurred in the whole process of attachment ranging from application to actual working period were very high. That included the travel cost, ad safement among others proved quite challenging Uncooperative clients. Some clients at work place would fail to follow stipulated bank procedures and one had to be affected role enough in directing and reminding them what they are supposed to do. Dealing withdead-lines. At times dealing with date-lines proved wanting because of bulk of work, time given(p) to accomplish it and the labor force available to accomplish Work overload. sometimes work was so much more especially during end-months where organizations are give salaries to their workers and tax remittance by the organizations11.0 Suggested solutions to the above challengesThe University should chip in by liaising with various organizations to assist students get attachment. Availing of any attachment information at their disposal e.g it came to my notice that some organization needs a preliminary of like three months before the actual date of attachment commencement. Provision of allowances The organizations should consider providing some allowances to interns for their upkeep during the attachment period and also act as source of motivation. Civic education on clients on organizations rules and etiquette. The organizations should raise forums where clients can be taught operational etiquette, rules, terms and conditions of operations Provide credible date-lines. This should put into attachment the amount of work to be done and available time and also the number of workers Increase the staff members This would counter the fuss workload and beating date-line12.0 Analysis, observation and critiques12.1Analysis and observationIt was conspicuously observed that in that location was a significant relationship between what is learned in the university or in the school and what is practiced or exercised in the industry. A few of the things I have learnt and were being used in the industry included the Amortization schedules concepts, reducing balances concepts, reconciliation concepts, market segmentation concepts, partnership, competitive pricing, compulsory improvement on existing banks products and new ones, strategies on improving the companies corporate brand strategy state of sales team and possible improvements, staffing systems e.g sufficiency of staff members and skills responsive to business growth, efforts to en hance performance of staff, efforts to create a conducive and professional environment that embeds bank values, efforts to enhance operational expertness and effectiveness incustomer service delivery and alternative delivery channels. If one keenly cuts across this we can conclude that quite a number of these things we have learnt in the units that we have covered so utmost ranging from accounting, finance, marketing, Human Resource Management among other units. Therefore if approximately watch I can conclude that 80% of what did was related to what I learnt in the university. 12.2 CritiquesPoor communication and feedback system. I would say that there were frequent bar down in communication system at place of attachment due to poor network or unstable network in the system that was being used to relay clients information. This created a lot of inconviencies both to clients and workers who had to work overtime because of much(prenominal) failures Under-staffing Serving client s adequately and finishing work on time was a problem because of less labor force at the firm Lack of motivation to the staff if one compares the staff re-numeration with the amount work done, it was not really motivating. Workers also worked over-time as late as 9pm but with no extra time allowance which was a really de-motivating experience. Lack of privacy i.e absence of closed door office. The back door offices were open that is the window panes were trans-parent allowing clients see all the transaction under-taken there therefore posing a security threat to the organization which mainly deals with finances.13.0 RecommendationInterns who have successfully completed their attachment and have proved their worth in their area of specialization should be absorbed back in the organization. This would aid the organization in cutting cost on training, orientation of new employees e.t.c Increase the staff. The staff numbers should be change magnitude in the organization to facilitate improvement in service delivery hence profit realization. Aggressive marketing. The organization needs still to do a lot in terms of marketing itself and its products in the republic if it needs to proof its worth in the market. Motivation should be embraced. The employees there need a lot of motivation if the organization is to up its performance in the banking industry Quick service delivery to clients should be looked into consideration and this would be solved by staff increment and improvement in the communication net-work at theorganization. 14.0 Summary and conclusions.I must acknowledge that going for an attachment was one the most interesting and captivating things in my life. one and only(a) of the most valuable lessons learnt from the internship is that it is of the essence that one enjoys their job. It is unimaginable that a person should go through so many years of schooling just to end up sulking each and every day of their work such people were met during the attach ment it is not a desirable state to be in. In most of the cases,the internship served to teach more of what not to do quite a than what to do. It clearly brought out the importance of integrating ones disposition and interests with their occupation, although this may not be easy in the light of the highly competitive job market in todays world. However, it should be noted that enjoying ones job does not ineluctably imply that one has the ideal job they have always envisioned since this may be based on hypothetical beliefs and expectations rather, it implies finding that job that brings the best out of ones personality that occupation that will bring fulfilment and satisfaction and that will lead to a perfection of the gentleman person. In addition to the above, it can be concluded that flexibility in terms of career choice is necessary. It is not guaranteed that one will necessarily end up working in the specific field of study that they have undertaken in their undergraduate p rogram after all, job kinetics are better learnt on the job itself than in class. It is therefore important that one is open to any viable opportunities that may present themselves, other than the ideal job that may have been envisaged, provided they bring the best out of ones capabilities.