A ONE-MONTH INDUSTRIAL TRAINING AT JEVISON FINANCIALS

CHAPTER ONE

1.0. INTRODUCTION

The word internship could be defined in several ways by different people but which all give the same meaning. It is a system of job training for white collar jobs and career building. Internship can be defined as a period during which students undergo practical training as per their field of study. During this period, they have the opportunity of transforming theory into practice; (that is, what is being taught in class is applied to real life situations).

It could also be defined as a period of work experience offered by an organization for a limited period of time. Once confined to graduates, internship is used for a wide range of placements in businesses, non-profit organizations and government agencies. They are typically undertaken by students and graduates who gain relevant skills and experience in a particular field. Employers benefit from these placements because they often recruit employees from their best interns who has known capabilities, thus, saving time and money in the long run.

1.1. CONTEXT OF INTERNSHIP

The term intern was first applied by medical students in the 1920s. Government and businesses eventually adopted the term internship and programs began to be on college in the 1960s. It was until recently that internship became a norm for the average college students.

Internship in the university of Buea started upon the creation of the university in the year 1992/93 with the first faculties and colleges created. This process is one of the requirements needed by students upon graduation. This internship process is very important as it helps prepare graduating students to know what is required by them as they live school and also prepare them for the challenges that they will face as they go out to the job market.

1.2. IDENTIFICATION OF THE PROBLEM

One of the major problems Jevison Financials had was owning an office space for the running of their day-to-day activities. This problem posed huge effects on the institution since they could not carry out their transactions effectively.

Also, Jevison Financials faced the problem of lack of technology. Jevison Financials lacked updated technology and the use of softwares especially in its product sector in trying to meet up with customer’s needs. As a result of this, a lot of transaction cost is being incurred in trying to meet up with customer’s needs.

1.3. OBJECTIVES OF THE INTERNSHIP

The objectives of internship are what the student aims at achieving by the end of his/her internship. Below are the objectives of my internship;

• To solve the problem of lack of technology and office space.
• To meet up with departmental requirements for graduation
• To be able to apply theory which is being taught in class into practice.
• To be able to gain banking skills so as to carryout transactions effectively and efficiently.

1.4. JUSTIFICATION OF THE CHOICE OF THE ORGANISATION

I decided to do my internship at the Jevison Financials rather than a microfinance institution nor a bank because of the following reasons;

• The Jevison Financials Corporation provides consultancy services which is not provided by both microfinance institutions and banks. This enables me to acquire additional skills which would not have been the case with other institutions.
• Secondly, Jevison Financials is a small firm which is still at the growth level of its life cycle with a lot of positive remarks for the past years. Because it is still small and growing, I am able to learn from the base of all transactions and care and patience is being exercised to train interns.
• Apart from the fact that it provides consultancy services, it has other activities that it carries out that provides its management with additional income such as the production of powder detergent and bleach, paints and many others. This enables me to learn not only the role of a financial manager but also trains in the production of these detergents.

1.5. STRUCTURE OF INTERNSHIP