Description of Internship Process - Essay Example

Nature of internship # A of the job or position held Al-Rahal Auto & Finance, Inc. is an auto sale finance company that specializes in minor automobile loans. They do this by purchasing vend installment sales indenture from Independent and Franchised dealers, known to have non-prime consumers purchasing of brand new or pro-owned automobiles. This company has a well established reputation for funding even the hard to place loans, by being direct lenders with their own capital. Al-Rahal Auto & Finance, Inc. has the main goal of providing funding for dealer loans in as little as 48 hours, with a view of allowing their dealers to focus their attention on their business. In my capacity, I was entitled to: evaluate the effectiveness of the payment methods provided by the Al-Rahal Auto & Finance, Inc.; Set solutions to lack of payments by customers as scheduled; and to Simplify techniques of sending and/ or receiving clients’ insurance information. # A description of key projects or assignments completed All the above assignments actually formed the basic functions of the organization. This means therefore that the organization had to ensure their completion through ensuring simplicity of the systems to be used but keeping them very secure to deter possible hacking; sensitizing the organization on the need to set up a customer care unit to offer assistance to the clients in case of any problems; and using both e-mail and physical addresses for the attainment of both soft and hard copies of the same information. # How the work completed relates to the domain of International Business By carrying out all the mandates and plans of the organization, as set to meet the needs of the local and international clients efficiently and with ease recommended, the international business domain will obviously be achieved. Besides, the services of this organization are never restricted to any particular region/ country but for everyone interested. # Lessons in relation to the domain of international business The domain of international business requires operations within clients’ expectations and the internationally stipulated guidelines. To keep by this, the organization generates multilevel frameworks of its specific aims for the international business, leading to proposition, which in return broadens the focus and compares this firm to related disciplines. This strategy provides pathways that maintain the organization’s international business richly relevant for a high number of communities affected by the international business. It is therefore true that this experience has exposed me to the modern practices of business in a global context. # New skills/knowledge acquired As an international intern I was able to gain a sound investment portfolio that is broadly diversified and consistent with the main investment objectives of growth, income, or a combination of both, for the purpose of ensuring business and economic growth for the organization and its local and international customers. In this respect therefore, I was at a position where there were effective strategies for learning organization’s values, analyze globe’s current financial situation, and successfully understand my feeling about managing financial resources – the Dream-Plan-Track approach to financial planning (Sheldon, K.M. and Kasser, T., 1998). # What strengths and weaknesses have you discovered The international organization, Al-Rahal Auto & Finance, Inc., has a mission of being a strategic dealer partner that has the intense intension of specializing in providing personalized finance department for customers with less than perfect credit, through helping them to establish either from a position of no credit or subprime credit to a prime or near prime credit rating in a period of 36 months or less. Al-Rahal Auto & Finance, Inc. experienced team of managers which focuses largely on educating their customers about credit and thereafter providing adequate financing for an automobile with everything fully disclosed up front. Considering business operations trends no major weaknesses were identified though minor ones like time adjustments and customer care policies were rectified immediately for customers’ retention. # How has your ability to work in an international context has been enhanced Professionally, I have gained the experience of handling quite a number of individuals (customers) with very distinct customs and believes, and working under different methods of management/ leaderships. All these experiences when merged actually enable me to be quite exposed to both local and international employment opportunities. While in Saudi Arabia, I learnt of the strong bonds among the Arabs both culturally and in ways of running their businesses. Customers believed in specific enterprises where they did all their business transactions and/ or purchases and could not be convinced otherwise. This I found to be so unique and difficult for new individuals/ businesses in the market but rather advantageous to the old businesses. The international business has no much difference from that of U.S. Models and structures of business operations are similar in all perspectives, although difference may be experienced due to the type, size and nature of management. The main difference noted was based on the customers’ purchasing trends, where oversea customers were identified with particular points of purchases which were due to either family ties or strong relations and not on the basis of good services or quality products as is the case in U.S. To some extent, work ethics/ styles in the overseas are influenced by religious practices and believe traditions and cultures, and knowledge levels. This is on the contrary to the case of U.S business operators who heavily depend on customers’ trends of buying and selling their goods or services. In case of inadequate skills and knowledge, business operators in U.S have opted for outsourcing of recommended individuals or institutions. The concept of decision in business is entirely based of the size and nature of the organization under analysis. Smaller organizations’ decisions are made by either an individual or two people, and this is applicable everywhere, as opposed to larger organizations which require managers’ and executives’ decisions. This also applies to the styles of leadership, which again dictates what trends of communication are applicable. Experience obtained however, was that both vertical and horizontal communication channels are embraced for successful service delivery. Training of workers hence remains very fundamental in equipping employees with best behaviors and productive conducts within the organization. Works Cited Sheldon, K.M. and Kasser, T. To pursue individual goals: Skills allow growth but not all advancement is beneficial. Personality and Social Psychology Bulletin (1998) 24: 564–557 Read More