Management process of People’s Leasing & Finance PLC

Group No 3

We Are….• Udaka Ayas• Raveera Veranga• Ranuka Dilhara• Suneru Mewan

Introduction• People’s Leasing & Finance PLC was

established in 22nd August 1995 currently the leading leasing & finance company in Sri Lanka.

• People's Leasing Company is fully owned subsidiary of People's Bank.

• In 2010 PLC is ranked as A+ by CRIB.• The Company brand is rated AA- by

Brand Finance UK.• 2012-12-04 got finance license.

Product & Services• leasing & hire purchase• Loans• Insurance• Islamic Finance• Micro Finance• Investments• Fleet Management• Property development

Management Functions…

Planning Organizing

Leading Controlling

Planning

• Setting the organization’s goals and deciding how best to achieve them.

• Vision• To provide dedicated value added customer

service to accomplish organizational service excellence whilst maintaining a sustainable competitive advantage.

• Mission• To become legendary in the financial service

scene as a provider of customer-friendly, creative and innovative total solutions.

• Goals of PLC

• Main target is to exceed last year profit, in this year.

Profit Charts…

SWOT

Strengths Opportunities

Weaknesses Threats

Strengths

• Young Force.• Good Will.• Government Protection.• Excellent service.• Customer satisfaction.• No 1 leasing Company.• Business Diversity

Weaknesses

• Not enough Branches.• High lending rate.• Young Force.• Only Vehicle leasing.• Staffs haven’t a proper fluent in

Tamil Language

Opportunities

• Current economic Position in Sri Lanka

• Catch international Market.• Make future customers

Threats

• Cannot do every finance business Because of mother company.

• Continuous Competitive.• Banks are going to lease .• Fuel will be end in 2050.• Cost of borrowing is high.

Organizing

• Determining how best to group activities and resources.

Organizational ChartPeople’s Bank

Chairman

Director Board People’s Bank

CEO people’s Leasing

General Manager (Finance & Admin)

Chief Manager Finance

Chief Manager HRM

Chief Manager internal Audit

Senior Manager Admin

General Manager (Operation)

Assistant General Manager

Four Chief Managers (Branches)

Chief Manager Legal

Chief Manager Pre-Legal

• Head Office

Organizational Chart

Branch Manager

Second Officer

Accountant

Head of Marketing

Head of Documentation

Head of Recovery

Insurance Officer

Cash Officer

Cashier

Cashier

• Branch

Work Specialization

• Marketing officer• Manager• Documentation Staff• Head of Recovery• Cashier• Accountant

Departmentalization• HR Department• Finance Department• Admin department• Audit department• Legal department• Pre Legal department

Chain of command• Normally Chain of command is going

through Organizational Chart of the company

Centralization/ Decentralization• It will change due to the type of decision.

Branch targets are given by Senior Manager. (Decentralization).Company targets are given by the Director Board of People’s Bank. (Centralization)

Directing• In leading there are three

characteristic that we consider. They are Leadership, Motivation & Communication.

Leadership• In People’s Leasing & Finance PLC mainly

Control with a task oriented leadership. • Leader (manager) achieves the company

targets by give specific tasks to the employees.• Most of the employees work more than 500

hours annually to cover their targets without Paying them an Over Time Amount.

MotivationSelf-Actualization

Esteem

Social

Security

Physiological

Types Communication

• Internal Communication Internal E-mails Meetings Notices

• External Communication E mails Telephone Conversations Face to face meetings

Controlling

• Controlling can define as the process of monitoring activities to confirm they are being proficient as planned and of correcting any significant deviations.

Financial Resources Controlling Annual reports Auditing Budgeting

Human resource Controlling Monthly work plan. Supervise employees every time.

Feed forward controls

• Analyze the business of marketing officers & give a response.

• Analyze the current business positions & competitors and present them in monthly meeting.

• Give a proper understand to marketing officers about their business quality

Concurrent controls• Customers are informed if they haven`t

paid their pay back lease.• Get a report about vehicle Condition.

Feedback controls• If customer ignores to pay lease, try to

get pre-legal and legal steps to him.

Findings

• Not enough Branches.• Lending rate is high.• Not enough Experience Employee force.• Lack of technological use.• Poor Method of recruiting .• Employees don’t get any extra

Commission

Recommendation

• Start more branches in rural areas.• Motivate people to start a FD accounts.• Make user friendly payment methods

with use of technology.• Give Commission to employees and

motivate them• Give a good training to young employees • Create a proper way to recruit suitable

employees for suitable jobs.

Q & A