Traditionally, when a person wants to start a business venture,
Traditionally, when a person wants to start a business venture,
The first feature of microfinance that comes to one’s mind is its huge growth potential. As stated in the case, only 20% of overall demand for microfinancing is being met. 420 million people don’t have access to microfinance according to Exhibit 5. Microfinance is believed to be rather helpful in improving people’s lives. Using the small credits, clients start their small businesses improve and their living standards which should lead to increase of life conditions in the whole country. The experience can also attract international companies to open plants and fabrics there as lack of skilled working power is one of the main constrain in FDI. However there is no clear evidence on the real impact of microfinancing on macro level. Moreover MFIs are not transparent at all, which is a huge disadvantage from investor’s point of view. Investors want to know the business they are investing in.…
* Summary of Field Note: Kenya full of fertile farmland but many are hungry. Why don’t they grow food for themselves? Most of Kenya is owned by foreigners and Kenya needs the foreign revenue…
Autonomy and utility are two very important moral principles in bioethics. The principle of autonomy explains that a person has the personal ability and sovereignty to make his or her own life decisions. Although the principle of autonomy states that autonomous person’s have the right to choose for oneself, there are restrictions to what choices people can make based off moral ethics. For example, just because someone might want to harm another person, it does not mean that they have the right to do so. Laws and regulations are what restrict autonomous people in making immoral choices.…
Word autonomy is derived from the latin words autos meaning “self” and “nomos” meaning “rule”. It expresses a self-governance and leading one’s life according to reasons, values, or desires that are authentically one’s own (Taylor 2015). However what we can call an authentically one`s own is still an open question.…
The hunger crisis facing Sub-Saharan Africa is among the most dire in the world. Primarily caused by poverty and a lack of food production, malnourishment is one of the most pressing issues facing Sub-Saharan governments and citizens (Smith). A wide variety of possible solutions to the problem have been suggested by those interested in Sub-Saharan Africa’s well-being. These solutions cover many sectors and industries, but most contain agricultural policy initiatives. Across Africa, agriculture employs “some 70 per cent of the work force and generates on average 30 per cent of Africa’s GDP,” and is therefore critical when considering living conditions and drivers of the economy (Ababa, 47).…
The present papers have been prepared for the role of microcredit as a tool in the fight against poverty and gender inequality. This paper aims to create increased awareness of gender and poverty through the microcredit programme. Microcredit has proven its potential to generate results. However, these results are generally short-term and vary significantly among borrowers. In general, studies suggest the poorest seldom benefit from microcredit, Women in particular. This paper identifies three key issues;…
“Angel Agents: Agency Theory Reconsidered” is an article that explores the relationship between agents and company owners. The article opens by stating the premise that company executives, who fail to operate under the every single objective of owners, don’t have the company’s best interest at heart. But the writers refute this by arguing that executives at times can be more engaging than the owners themselves; and for that reasons could make the best decisions for stakeholders.…
Agency theory describes the relationship between principals (shareholders, investors and owners) and agents (management). Theoretical discussions in business and academia may be a modern phenomena, however the dynamics surrounding agency relationships have been around since the dawn of barter and exchange.…
This is to certify that the research project was carried out by OMEJI IKECHUKWU (MR) (MGS0803060) in the Department of ACCOUNTING Faculty of Management Sciences, University of Benin, Benin City, Edo State in partial fulfillment for the award of Bachelor of Science (B.Sc.) in accounting…
After studying this chapter, you should understand: LO1 The basic types of financial management decisions and the role of the financial manager. LO2 The goal of financial management. LO3 The financial implications of the different forms of business organization. LO4 The conflicts of interest that can arise between managers and owners.…
When entering into a contract both parties need to understand the terms and conditions of the contract. With verbal contract being legal binding contract both parties run the risk of hearing parts of the contract that they want to hear, they may not fully understand what the verbal contract really entails. According to the video, The Nature of Agency (Chesseman, 2010) Janet who is a secretary that signs for shipments signed a three month lease with Non-Linear Pro. The product end up not working correctly and now Non-Linear Pro filed a suit against Quick Takes Video for breaking their three month lease. One of the sales people said how is it that a secretary signed a binding agreement with Non-Linear Pro without getting authorization of the owners. When the sale of the equipment was being made by the owner Hal he informed the salesman of Quick Takes Video that all arrangements can be made with the employee Janet. Once Hal gave the authority to Janet the salesman assumed that Janet was the one who would sign the lease and with Hal having so many years of experience should have not allowed for any assumptions to be made when entering into a contract.…
Which of the key debates covered in weeks 1-4 is the most significant for sociology? Explain your answer with reference to at least one sociological topic.…
Contracting theory, which forms part of the second wave in the positive theory of accounting, focuses among other things on agency theory. What is agency theory? Elaborate the components of agency costs as described by Jensen & Meckling (1976).…
The past few years have seen an acceleration in the creation of commercial microfinance programs. The demonstration effect of profitable microfinance institutions (MFIs), combined with market forces in newly-liberalized financial markets, created the conditions for this rapid expansion. Bolivia, Chile, Paraguay, Uganda and Bangladesh are the focus countries for this paper, although the authors draw examples from other countries as well. In these countries, new commercial entrants, such as consumer lenders, commercial banks, and state banks, are changing the microfinance industry. With growing numbers of clients, service providers are now in direct competition with each other, often for the first time. In response to commercial entry and increased This paper considers the implications of these changes for clients and for the institutions that helped create the field of microfinance—non-governmental organizations (NGOs), governments, and donors. The authors contend that these groups will need to rethink their microfinance strategies in light of the rapidly changing marketplace. competition, microfinance programs are seeking to improve services, develop new products, introduce cost-saving technology, and lower prices. While these changes can benefit the customers, they also bring risks for institutions and their clients, including the risk of overindebtedness by customers and the likelihood that not all cur rent providers will survive.…
Micro-finance concept has operated for centuries in different parts of the world for example, Notable in Indonesia, cheetu in Srilanka, tontines in Ghana West Africa and pasanaku in Bolivia. One of the earliest and longest serving micro-credit organization providing small loans to rural poor dwellers with no collateral is the Irish loan Fund system initiated in the early 1700s by Jonathan swift. His idea began slowly in 1840s and…