From Mission to Action: Management Series for Microfinance Institution (Strategic Management Toolkit Handbook)

This handbook helps MFIs professionalize their strategic management processes in order to improve their double bottom line. Developed by the Microfinance Center (MFC) the handbook uses an adaptation of the balanced scorecard (BSC), a performance measurement tool originally developed by the Harvard Business School for commercial companies. MFIs implement the toolkit with a mix of technical inputs from an external facilitator and internal team work. The process starts with a kick-off workshop followed by internal team work, distance mentoring, and a series of learning and action workshops. MFIs are expected to implement the process over a 6-12 month period. The toolkit presents results from four MFIs that used the adapted BSC tool to upgrade their strategic planning and management processes. The handbook guides MFIs to:

• Assemble the implementation team and collect strategic information;
• Deconstruct their mission;
• Diagnose current position;
• Make strategic choices and identify key strategic issues;
• Develop a strategy map;
• Develop BSC measurement;
• Develop change management plan;
• Implement strategy as an ongoing process.