BIM | BIM and INCAE seal an unprecedented strategic alliance to work for the microfinance industry
The first activity carried out within the framework of this agreement was the Strategy course for the Senior Management of Microfinance Institutions, held at the Incae Nicaragua Campus, in the first days of March.
This training program brought together 37 directors and managers from 25 microfinance institutions from 12 countries in Latin America and the Caribbean and was supported by the IDB / MIF, Norfund, SECO, BIO, and FMO. Dr. Luis Noel Alfaro was responsible for guiding the course. Alfaro is Academic Director and Founder of the Senior Management Program for Microfinance Institutions (PAD MIF) and the Advanced Management Program in Banking and Finance for Development (PGA BFD) at INCAE BUSINESS SCHOOL.
The characteristic that makes this activity special and adds additional value, according to Dr. Alfaro, is that the content is focused on microfinance, with real cases in which planning processes have been developed in all its stages: design, implementation , evaluation, monitoring and control.
The greatest impact that Dr. Alfaro observes from this is that the knowledge that the participants take with them will contribute to influencing the MFIs to carry out a strategic planning process appropriate to their line of work. Likewise, “the end client will benefit, because by improving the performance of the MFI, it is expected that services will improve, both in quality, as well as in breadth, scope and depth,” he said.
At the end of the course, Alfaro recommended keeping in mind that the industry is constantly changing, due to changes in the political, economic, technological and social environments of our countries. Therefore, the strategy must be permanently adjusted; MFIs must assume that strategic planning is not an expense, but an investment. It should not become routine, but rather a process that contributes to achieving changes that improve MFI performance.
“Do not lose sight of management control, it is essential,” he said, remembering that many times this factor is the missing link in planning.
For his part, Pedro Fardella, Locfund technical assistance coordinator, indicated that this course has generated added value; however, it is necessary to deepen the exchange of experiences, to strengthen the planning processes of MFIs.