...Collateral Effect of Micro-finance on child-labour | 4 | Social responsibility challenges that micro-financiers should meet | 6 | Discussion of microfinance using the principle agent framework | 6 | Conclusion | 7 | References | 9 | Introduction Social innovation refers to novel services and activities directed towards addressing social needs and diffused through organizations whose main purposes are social rather than making profit (Majumdar, Guha, & Marakkath, 2015). On the other hand, business innovation involves organization’s process of introducing ideas, workflows, or products. Unlike social innovation, business innovations are motivated by profit and diffuse through firms motivated by profit maximization. However, some for-profit businesses innovate by developing new ideas to address social needs in the community or workplace. Nonetheless, both social and business innovations exhibit novelty. That is, they promote new ways of doing things thus making them necessary for human development. Majumdar, Guha, and Marakkath (2015) affirm that innovations promote human development by satisfying the basic human needs and empowering the community through new ideas. Innovation involves all spheres of society and human life including human needs and capacity development. This paper focuses on microfinance which is a business innovation. The paper discusses the impact of microfinance on poverty, child labor, and social responsibility challenges that micro-financiers should address...
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...DELINQUENCY MANAGEMENT What is delinquency, arrears, late payments, overdue, past due, and default? The terms are often used interchangeably but generally arrears, past due and overdue refer to an amount that has not been paid that has become due. Delinquency means: * Is a situation that occurs when loan payments are past due * It occurs when one loan payment is one day late * It refers to the rate of arrears or the fact that a loan is in arrears, e.g. “this loan is delinquent” means it has an amount that has become due and has not been paid. Arrears - is an unpaid, overdue debt or an unfulfilled obligation. It is a state of being behind in fulfilling obligations. Default refers to a loan that is not expected to be paid back and/or has been written off. It occurs when a borrower cannot or will not repay his or her loan and the MFI no longer expects to receive payment. The MFI may continue its collection efforts. Usually a loan is declared in default when the borrower has stopped payment on a loan for more than 2 or 3 due dates. The time period is determined by the MFI. The defaulted amount depends on how much is outstanding when the borrower stops making payments. Amounts that will have to be written off or counted as loan may be different from the defaulted amount depending on the ability of the MFI to collect any collateral or on a guarantee. Zero percent delinquency is an obstacle and a reasonable goal but requires the commitment of the whole...
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...conveying to them how they can achieve the same benefits as some of the largest clients, at a fraction of time and cost. An important way, in which the reseller can showcase the value-proposition of the ERP companies to their prospective clients, is by developing proprietary modules that are highly industry-specific and specifically target industry-based challenges, on top of the ERP software. For an ERP giant, customizing their solution for different micro-industries may not make sense, as it does not drive large economies. For resellers, creating technology not for the masses but for the focused groups with the ability to showcase micro-industry expertise will help in differentiation as well as in driving new scales and economies. Resellers should leverage the bigger company’s resources to reach out to the right focused groups, at the right place and time, and to get a platform to demonstrate their expertise. For effective lead generation, it can be helpful for resellers to narrow down their industry classification to micro-verticals (For e.g. dairy, seafood in food industry, and automobile manufacturers in manufacturing industry) and then engage in customer-specific conversations, while engaging with their ERP company for...
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...School Mapping and Micro Planning Project: the Case of Wolayta Zone Mengistu Lamaro Addis Ababa University, 2012 In this study, the author has assessed the achievements, challenges and prospects in implementing the School Mapping and Micro Planning Project in wolayta Zone. The study examined the impacts of implementing the project in terms of access, equity, internal efficiency, and quality of primary education in 3 sample woredas and 2 town administrations where the project was carried out. The key question that guided the study is ‘To what extent has the School Mapping and Micro Planning Project increased access, equity, efficiency and quality of primary education?’ A quantitative research design was employed to conduct a descriptive survey on the case at hand. Primary data were collected from zone education department head, officers of woreda education offices, primary schools principals, chairpersons of Kebele/municipality Education and Training Management Board and Parent-Teacher-Association, 101 altogether. Besides, education-related statistical data were collected from Annual Education Abstracts of the SNNPREB and other relevant sources. Key variables analyzed were intake rates, enrolment rates, GPI, GG, dropout and repetition rates, PTR, PSR, PTBR, catchment areas, and representation index. Through a combination of instruments- interviews, questionnaires, and document analysis- the study found that implementation of the School Mapping and Micro Planning Project impacted...
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...practical experience in teaching before they walk into the classroom, teachers and principals of schools still complain of the weaknesses of class control and classroom management displayed by these teacher trainees. When their lessons were observed it was understood that if the teacher trainees can improve the approach to their lessons they will be able to conduct their lessons more effectively. Because the beginning of their lessons is not effective they have problems in keeping the attention of the students and motivating them. As a result, they face the problem of class control throughout the lesson. It is hypothetical that one of the best techniques to help teacher trainees develop their skills is to use ‘micro teaching’ as a technique of training. But, in the process of training of teachers of national colleges of education enough weight is not given to micro teaching. Microteaching is organized practice teaching. The goal is to give instructors confidence, support, and feedback by letting them try out among friends and colleagues a short slice of what they plan to do with their students. Ideally, microteaching sessions take place before the first day of class, and are videotaped for review individually with an experienced teaching consultant. Microteaching is a quick, efficient, proven, and fun way to help teachers get off to a strong start. (Harvard University) As mentioned above micro teaching is a method that helps teacher trainees use their techniques in the same...
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...certain goods and after payment of the documents to the bank, send the shipping documents to their clearing agents M/s Shoab Clearing Agents with the instruction that they may dispose of the goods and also stipulate the minimum rate for which these goods can be sold. The clearing agents sell the goods for a price little less than the stipulated price. M/s Rahim Khan and Company claim the return of the goods from the buyer: a since the clearing agents have sold the goods for a price lower than the stipulated one, the buyer will have to return the goods. b since the clearing agents have sold the goods at a lower price without seeking confirmation from the principals, the goods will have to be returned c the buyer cannot be forced to return the goods, since they do not have any notice of the condition stipulated by the principals d the buyer cannot be forced to...
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...Micro enterprise is a low level or small business unit run on the basis of single or group ownership. Micro entrepreneurship promotes entrepreneurial potential among women. It reduces economic dependency and encourages all round development of a community. Empowerment means the process of change by which a person or a group acquire power or capability over their existence such as prosperity availability of resources, increased self-confidence and decision making power. Women empowerment refers to the complete liberation of women from socio economic dependency and impoverishment. Women empowerment leads to economic growth, poverty reduction, increased well-being, etc. Self Help Group (SHGs) based microfinance programme is a...
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...33 Innovation and disruption in U.S. merchant payments Innovation and disruption in U.S. merchant payments The U.S. merchant payments landscape is undergoing a period of rapid, technology-driven change. Mobile, online and social technologies are revolutionizing consumer access to information and sparking demand for new services that can support multichannel commerce, big data analytics, enhanced loyalty programs and targeted advertising. Consumers use the new tools to move dynamically between computer, mobile device and in-store experiences while shopping. For merchants, these cross-channel “journeys” create opportunities to integrate business-to-consumer (B2C) sales channels and to leverage generated data to understand consumer behavior. To capitalize on this opportunity, merchants need payments solutions that integrate adjacent business services and enable new functionalities that enhance loyalty programs and advertising performance. Robert Byrne Jason Hanson For payments and non-payments companies, new merchant services are attractive areas for growth. For payments companies, revenues from new merchant services could double today’s market in traditional merchant acquiring and transaction processing. For non-payments players, new services represent a major step toward closing the loop between investments in advertising and loyalty programs and consumers’ ultimate purchasing decisions. At the same time, cloud computing is lowering the barriers to entry...
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...ASSESSMENT AND MITIGATION ANALYSIS: MICRO-CREDITS FOR ROMA COMMUNITIES IN HUNGARY Prepared by Volodymyr Tounytsky, Zoltan Kristof and Alexandra Windisch-Graetz For UNDP, “Micro-credit programme for disadvantaged groups in Hungary – with a special focus on the Roma population”(Pr.Nr. 00042644) TABLE OF CONTENTS 1. Executive summary 3 2. Overview of status of micro-lending in general, for vulnerable groups and Roma population in particular 3 2.1 A brief look at the competition: Usury and quick loans in Hungary 7 3. Description of Hungarian microfinance project 11 4. Risk analysis of micro-lending institution and its operations for disadvantaged groups as designed under the Micro-credit program for disadvantaged groups in Hungary and mitigation guidelines 12 4.1 Institution Related 13 4.2 Target Group Related 14 4.3 Product Related 15 4.4 Loan Process 21 4.5 Delinquency and Defaults 27 5. A set of indicators for risk monitoring and portfolio management 30 6. Conclusions and Recommendations 30 Table 1. Risk Areas and Mitigation Approaches 32 Table 2. Characteristics of Client Economic Activities 36 Table 3. Product Specification Sheet: Credit Product 38 Table 4. Loan Analysis Form 39 Table 5. Financial Statements With Loan Loss Provision and Reserve 42 Table 6. Portfolio Management Indicators 43 1. Executive summary This report has been commissioned by the UNDP, Project Nr. 00042644 “Micro-credit programme for disadvantaged...
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...only to the sectoral equity caps, entry routes and other relevant sectoral regulations. The issue of de-reservation had been a subject of animated debate within government for more than twenty years. The Approach to the Eleventh Five Year Plan noted the adverse implications of reservation of products for exclusive manufacture by the MSEs and recommended the policy of progressive de-reservation. To facilitate further investments for technological up-gradation and higher productivity in the micro and small enterprises, 654 items have been taken off the list of items reserved for exclusive manufacture by the manufacturing micro and small enterprises in the last few years – reducing it to 21 at present. This has helped the sector in enlarging the scale of operations and also paved the way for entry of larger enterprises in the manufacture of these products in keeping with the global standards. Credit/Finance Credit is one of the critical inputs for the promotion and development of the micro and small enterprises. Some of the features of existing credit policy for the MSEs are: Priority Sector Lending: Credit to the MSEs is part of the Priority Sector Lending Policy of the banks. For the public and private sector banks, 40% of the net bank credit (NBC) is earmarked for the Priority Sector. For the foreign banks, however, 32% of the NBC is earmarked for the Priority Sector, of which 10% is earmarked for the MSE sector. Any shortfall in...
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...ASSIGNMENT ON SHAKTI PROJECT OF UNILEVER 1) What are the key features of Shakti? What are its positive aspects and what are its drawbacks? Key Features of Shakti: • This project was started in 2001 with the aim of increasing the company’s rural distribution reach as well as providing rural women with income-generating opportunities. • Villages with a population of about 2000-3000 are selected. • Personnel from HUL approach SHGs. • Selection of the Shakti Amma. • HUL vouches for Shakti Ammas with banks from credit. • One Shakti entrepreneur is appointed for one village & villages that are about 2 kilometers apart from her village. • The Shakti dealer places initial orders worth Rs.15000(principal customer of HUL) • The Shakti dealer organizes a “Shakti Day” in the village(display of products & free gifts) • The recruitment of a Shakti Entrepreneur or Shakti Amma (SA) begins with the executives of HUL identifying the uncovered village. • The representative of the company meets the panchayat and the village head and identify the woman who they believe will be suitable as a SA. • After training she is asked to put up Rs 20,000 as investment which is used to buy products for selling. The products are then sold door-to-door or through petty shops at home. Positive Aspects: • The Shakti entrepreneur program creates livelihood opportunities for underprivileged rural women. • The Shakti Vani program works to improve the quality of life in rural India, by spreading...
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...Buddhism is nontheistic religion and is closely related to Hinduism. This belief is more of a philosophy, which includes an array of customs, beliefs and spiritual practices mostly based on the teachings of Buddha or otherwise known as the “awakened one”(Mann 265) . Buddhism is an offshoot from Hinduism because of their similar beliefs such as, reincarnation, that there is an ultimate spiritual reality beyond this earth and it’s physical world, and that there are different paths one can take on their road to enlightenment. They defer however, by the Buddhist rejection of priests and their conflicting views on reality. Hinduism see’s reality as being everything united as one divinity in contrast with Buddhism which see’s reality as the ultimate...
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...Liberty University “El Poder del Liderazgo en Equipo” Resumen 4-MAT 1 Entregada al Dr. Albert Letting Como Requisito Parcial De Los Requerimientos del Curso “Liderazgo del Equipo Y Resolución del Conflicto” CLED 610 Por: Gabriel Aldana Mayo 27, 2012 RESUMEN "El liderazgo funciona mejor cuando es dirigido por equipos de líderes talentosos sirviendo juntos en la búsqueda de una visión clara y convincente." (Barna, 2001). Esta es la tesis de George Barna en el poder del equipo de liderazgo. Barna apoya la teoría de que las iglesias protestantes de Estados Unidos están en necesidad de un cambio en el estilo de liderazgo. Barna analiza los desafíos culturales de hoy y la tensión que estos provocan en los líderes tratando de responder a ellos. El éxito de la iglesia está en el poder del equipo de liderazgo, utilizando personas con cualidades de liderazgo para crear un Ministerio de equipo eficaz y dinámico. El equipo ideal implicaría un motivador visionario, un dirigente estratégico, un generador de equipos y un miembro del equipo que supervisa los aspectos operacionales de la labor de los equipos. Barna hace un buen argumento de por qué es necesario el liderazgo del equipo. Es indudable que una iglesia seria una experiencia más positiva cuando sus miembros están implicados en las decisiones; especialmente en las que los afectan personalmente. El poder del equipo de liderazgo es apropiado para los dilemas del liderazgo de hoy. Un cambio en la estrategia...
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...internationala de valuta se caracterizeaza printr-un grad ridicat de unitate si de lichiditate determinat de functionarea sistemelor international ce faciliteaza transmiterea de informatii in timp real si de faptul ca acest segment al pietei financiare are o functionare continua , operatiunile de vanzare/cumparare fiind practic fara intrerupere. Structura pietei valutare este urmatoarea: * Bursa valutara * Banci autorizate/care de schimb valutar * Persoane/Institutii Mecanismul de desfasurare al tranzactiilor presupune 3 segmente: * Segmentul primar – reprezentat de participantii care genereaza cererea si oferta de valuta * Segmentul principal – reprezinta ansamblul operatiunilor pana la finalizarea tranzactiilor * Segmentul tertiar – asigura coordonarea si supravegherea tranzactiilor pe piata valutara , rolul principal revenind bancii centrale din fiecare tara. Principalele centre valutare se afla la Londra , New-York , Tokyo , Paris , Zurich , Frankfurt.etc Riscul valutar Operatiunile specifice pietei valutare implica in majoritatea cazurilor un rist de a inregistra pierderi , in loc de a castiga , asa cu ne asteptam in momentul angajarii operatiunii. Riscul valutar...
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...weights based on subjective priors based on the literature.Yet differences in opinion in the academic literature leave the door open for different choices that can compromise the resulting rankings. The New GCI is generated in a two-stage process. First, the weights for aggregating individual indicator scores to an overall country score are obtained using panel data for over 130 countries and up to 7 years (2001–07).The weights obtained from estimating the model are going to be kept constant over time. Additional years of data will be used to check the stability of the model over time. Second, the index score for a particular country in a given year is calculated by summing its weighted indicator values. The New GCI model uses principal component analysis (PCA) to aggregate individual indicators (or categories of indicators).The premise of the PCA method is that within a “conceptual category,” indicators are highly correlated and related to the underlying phenomenon that is being measured.Within the area of microeconomic competitiveness, the degree of correlation between indicators is very high.The New GCI model thus applies a two-step PCA procedure. First, a separate aggregation is computed for COS and for each of the four components of the NBE. Second, these five components are aggregated into an overall score for microeconomic competitiveness.75 Figure 7 provides a sample...
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