A Case Study Of Services Sector Of Pakistan - Free Essay Example

Sample details Pages: 14 Words: 4167 Downloads: 2 Date added: 2017/06/26 Category Statistics Essay Did you like this example? The aim of this study refers to highlighting the key challenges and prospects for the microfinance sector of Pakistan. Being practiced since last few years, microfinance is considered to be an imperative financing practiced by financial institutions for the development of countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy. This study has been carried out using the following four steps: present scenario of microfinance in Pakistan, identification of internal and external challenges, prospects in microfinance, and policy recommendations to boost microfinance sector in Pakistan. Don’t waste time! Our writers will create an original "A Case Study Of Services Sector Of Pakistan" essay for you Create order In this research, microfinance framework has been used to better understand the process of building a sustainable microfinance institution. The findings have been obtained through Primary data which has been collected by sending 80 questionnaire surveys to microfinance sector. The companies that have participated are banks and other financial institutions. This research contributes in three ways. First, microfinance institutions will be facilitated in highlighting the challenges and prospects that are being neglected in the process of analyzing the problems and opportunities faced by this sector. Second, other financial institutions and banks, realizing the significance of this business, will get encouragement to enter this sector with more innovative products and better standard practices. Thirdly, it will help the country in coming up with new strategies for micro financing. Moreover, microfinance sector may start conducting more training sessions to enhance the skills of the clien ts which will impact positively on this sector. INTRODUCTION Statement of the Problem Poverty cannot be illustrated, it can be experienced. One knows more about it when he is starving and can not manage to pay for food. He and his children want new cloths on festivals but can not buy these, due to low income. He is sick, but he is not able to buy medicine. He wants to send his children to school, but can not bear the expenses. He wants to be appreciated in society, but is treated poorly by the institutions of the state and society. He is voice less and incapable (Gobind M et al,2008). Poor people save all the time, although mostly in informal ways. They invest in assets such as gold, jewelry, domestic animals, building materials, and things that can be easily exchanged for cash. They may set aside corn from their harvest to sell at a later date. They bury cash in the garden or stash it under the mattress. They participate in informal savings groups where everyone contributes a small amount of cash each day, week, or month, and is successively awarded the pot on a rota ting basis. Some of these groups allow members to borrow from the pot as well. The poor also give their money to neighbors to hold or pay local cash collectors to keep it safe. However widely used, informal savings mechanisms have serious limitations. It is not possible, for example, to cut a leg off a goat when the family suddenly needs a small amount of cash. In-kind savings are subject to fluctuations in commodity prices, destruction by insects, fire, thieves, or illness (in the case of livestock). Informal rotating savings groups tend to be small and rotate limited amounts of money. Moreover, these groups often require rigid amounts of money at set intervals and do not react to changes in their members ability to save. Perhaps most importantly, the poor are more likely to lose their money through fraud or mismanagement in informal savings arrangements than are depositors in formal financial institutions. The concept of microfinance was launched to help the poor population of the world. The significance of microfinance cannot be neglected for the development of any economy. Microfinance encourages poor households to consume their funds in productive activities by providing them small amount of loans. Poor household refers to low-income people who traditionally lack access to banking and other related financial services. The concept tend to empower would-be entrepreneurs to take up a trade for living, allow them to start earning, and thus to provide their families with income stability. The income that generates from such businesses not only helps in expanding those activities but also contributes to the income of the household bringing benefits for the whole family. In Pakistan, about one-third of the population is à ¢Ã¢â€š ¬Ã…“un-bankedà ¢Ã¢â€š ¬?, or lacking access to finance, which if appropriately tapped can offer tremendous opportunities to both banking institutions and businesses. As a step towards mainstreaming the un-banked, SBP has envisaged increasing the size of micro and small enterprise (MSE) financing from one million borrowers to four million borrowers, and from Rs.1 billion to four billion by the year 2010. In this context, increasing institutional outreach and sinking micro financing in to the sector are considered pivotal strategies. Other areas of interest include regulatory regimes, product and process innovations, relationship management and monitoring, and market intelligence data (Sohailuddin Alavi, 2007). According to ILO (2005) cited by Dahri (2007) it is concluded that the reality for most of the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s poor is that they have to work often for long hours, in poor working conditions and without basic rights and presentation- at work that is not productive enough to enable them to themselves and their families out of poverty, it is à ¢Ã¢â€š ¬Ã…“decent and productiveà ¢Ã¢â€š ¬? employment that matters, not employment alone. In developing countries, so many strategies have been put into practice and research has been done but it is felt that it is not enough and research should remain continue in light of latest reports and research to highlight the challenges and opportunities of microfinance. These studies are helping in bringing new strategies into practice. As Pakistan is also a developing country, further suggestions would help to overcome the challenges faced by microfinance and avail the opportunities that exist for this kind of financing. To keep these thin gs in mind attempt has been made to identify the internal, external challenges and opportunities as special objective in this study. LITERATURE REVIEW The great challenge before us is to address the constraints that exclude people from full participation in the financial sector. Together, we can and must build inclusive financial sectors that help people improve their lives.(Kofi Annan, 2007). However, poverty is a widespread problem found in the rural areas of Pakistan, as almost 28 per cent of the total rural households is categorized as poor. In this regard, the provision of credit, especially micro-credit, has now become an effective tool and a successful strategy for poverty eradication. In Pakistan over the past few years, the number of active borrowers has increased by 85 per cent while total outstanding loans grew by 115 per cent (Economic Survey of Pakistan, 2005-2006). The broader definition of microfinance includes not only microcredit but also other financial services, which can be offered to the poor. Interested economists found soon that not only small credits but also other services connected with lending could improve economic lives of the poorest (Bauer, Chytilova Morduch, 2008). Most MFIs connect their credit services also with educational or saving programs or business trainings, retraining scheme or technical trainings. Logically, the investments can turn out to be more profitable when the people have access to training, which can enhance their skills. Historically, the goal of microfinance was the alleviation of poverty. For many years, microfinance had this primary social objective and so traditional MFIs consisted only of non-governmental organizations (NGO), specialized microfinance banks and public sector banks. Although the Microfinance sector has reached a maturity stage over the last three decades, but the capacity of operational level staffs has not enhanced to that extent (Hassan Islam, 2008) A variety of studies have found a few key strengths and positive impacts produced by the implementation of microfinance programs in poor and impoverished areas of the world. First, microfinance programs can be an effective way to provide lowà ¢Ã¢â€š ¬?cost financial services to poor individuals and families (Stephens Tazi 2006). Second, such programs have been shown to help in the development and growth of the local economy as individuals and families are able to move past subsistence living and increase disposable income levels (Khandker, 2005). MFIs should take initiatives to upscale their Microenterprise clients to SME level and provide necessary support to link these clients with mainstream financial institutions. The MFIs should take responsibilities of their clientà ¢Ã¢â€š ¬Ã¢â€ž ¢s managerial skill development training (Hassan Islam, 2008). In addition, many studies (primarily microfinance institution impact studies and academic researcher qualitative or case studies) have shown that microfinance programs were able to reduce poverty through increasing individual and household income levels, as well as improving healthcare, nutrition, education, and helping to empower women. For example, standard of living increases, which help to eradicate extreme poverty and hunger, have occurred at both the individual and household levels as a result of microfinance programs (Khandker, 2005). Furthermore, it has been demonstrated by some research that microfinance programs increase access to healthcare, making preventative healthcare measures more affordable to the poor (Morduch, 1998). Finally, it has been shown that such programs can help borrowers to develop dignity and self-confidence in conjunction with loan repayment, and selfà ¢Ã¢â€š ¬?sufficiency as a means for sustainable income becomes available.The Microfinance Summit Camp aign Report (2006) estimates that there are now more than 3,000 microfinance institutions, serving more than 100 million poor people in developing countries. The total cash turnover of these institutions world-wide is estimated at $2.5 billion and the potential for new growth is outstanding.One individual who gained worldwide recognition for his work in microfinance is professor Muhammad Yunus who, with Grameen Bank, won the 2006 Nobel Peace Prize. Yunas and Grameen Bank demonstrated that the poor have the ability to pull themselves out of poverty. Yunus also demonstrated that loans made to the working poor, if properly structured, had very high repayment rates. His work caught the attention of both social engineers and profit-seeking investors (Grameen Bank, 2008). Some key strengths and positive impacts of microfinance programs in poor and impoverished areas of the world that; Microfinance programs can be an effective way to provide low-cost financial services to poor individuals and families (Stephens Tazi 2006). Such programs help in the development and growth of the local economy allowing individuals and families to move past subsistence living, and therefore increases their disposable income levels (Khandker 2005). Negative impacts of microfinance and microcredit programs are that; microfinance programs benefit the moderately poor more than the destitute, and thus impact can vary by income group (better-off benefit more from microcredit) (Jonathan Barbara 2002; Morduch, 1998; Dugger, 2004). Both formal and semi-formal financial institutions cover a very small share of MFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s markets as compared to informal market (Aleem, 1990). Hassan and Islam (2008) in a study conclude that, uplifting of client, managerial skill development programs for both client and staff of MFI and governmental policies can uplift the MFI growth which in turn has positive impact on overall macroeconomic growth of country. Moreover, the studies conducted on micro-cr edit were mainly based on the impact assessment of the programme. Realizing the situation, there is a need for an empirical study to analyze the factors that determine challenges faced by MFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s and future prospects in microfinance programme. Objectives of the Study The objectives of the study are: à ¢Ã¢â€š ¬Ã‚ ¢ To explore the present scenario of MF in Pakistan à ¢Ã¢â€š ¬Ã‚ ¢ To identify the challenges faced by MFIs in Pakistan à ¢Ã¢â€š ¬Ã‚ ¢ To identify the internal and external constraints of MFIs in Pakistan. à ¢Ã¢â€š ¬Ã‚ ¢ To provide policy recommendations to boost MFIs sector in Pakistan RESEARCH METHODOLOGY Conceptual Frame Work Utilizing the above mentioned details, a framework is suggested for MFI. Generic Framework for Building Sustainable Micro Finance Bank (MFB) Source: SOHAILUDDIN ALAVI (2007) à ¢Ã¢â€š ¬Ã…“Microfinance in Pakistan: Challenges and Prospectsà ¢Ã¢â€š ¬?, journal of the Institute of Bankers Pakistan Volume 74, Issue No. 3 page 52-61 Data Collection In this research study, primary data has been obtained from questionnaire survey. The primary data here has been collected through a comprehensive questionnaire in this research. Primary data There are several choices for primary data collection i.e. survey (questionnaire), interview, observations and experiments. These choices are shown in below figure. The primary data here has been collected through a comprehensive questionnaire in this research. Primary Data Sources Source: Ghauri, P. Gronhaug, K. (2005). à ¢Ã¢â€š ¬Ã…“Research Methods in business Studiesà ¢Ã¢â€š ¬?, 3ed. Prentice Hall. Size of the Sample The questionnaire was distributed to 80 executives in four different MFIs. These executives have the responsibility of key customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ identification, analysis and operational activities involved in the management process. Out of the 80 respondents 54 (67.50%) have responded. The author has done the convenience sampling due to the limitations. Questionnaire We have divided this Questionnaire into three segments; External Challenges Internal Challenges Prospects First and second section measure challenges, both internal and external faced by MFI and third section addresses the future prospects for MFI. Each section is based on separate research objectives. Only closed-ended questions are included in the questionnaire. In closed-ended questions Likert-scale method (Proctor, T. 2005) is used for response. Seven different scaling options are included in Likert-scale method to minimize the response biasness. The scales: strongly agree, agree, slightly agree, neither agree nor disagree, slightly disagree, disagree and strongly disagree are assigned ranks from 1- 7 respectively. DATA AND METHODOLOGY Data and Sampling As we have limited MFIs in the country so author has distibuted 80 questionnaires and 54 responses are received (67.50%) from Karachi, Islamabad and Lahore cities. Total Number of Questionnaire Response Received % of Response 80 54 67.50% Methods for submission of questionnaire: The questionnaire is distributed to the respondents through the way of e-mail and assisted with telephone call contact with the company managers. The author has continuous telephonic contacts and communication with them for accurate and efficient results as well as to run it efficiently for reclaiming. Data Analysis Method: The software SPSS and MS Excel are used to analyze the data. We have used Descriptive Statistics for interpretation purpose. We have used the following option while compiling our analysis; Frequencies Result Discussion and Interpretation The questionnaire delivered to respondents contains multiple choice questions for maximum response. There were also left comments options in each section of the questionnaire. Moreover, information has also been gathered by discussing the topic with Micro Finance sector related people telephonically. So, the comments and discussions are summarized as a feedback. Analysis of Results and Interpretation The questionnaire results are divided into three sections: External Challenges Internal Challenges Prospects Section 1 External Challenges Questions 1 Strongly Agree 2 Slightly Agree 3 Agree 4 Slightly Disagree 5 Disagree 6 Strongly Disagree 7 Not Know Total no of Response                            Govt giving importance To Mfi 1 11 30 8 4 0 0 54 MFI staff Well trained 0 3 24 6 21 0 0 54 Loans used in Comsumption not invested 0 0 16 14 24 0 0 54 MFI Skill Devl of client 0 2 12 35 5 0 0 54 MFI and Banks Forbidden 2 16 25 11 0 0 0 54 Norms about Loan 0 1 30 3 20 0 0 54 Comparison of Frequencies             Questions Positive Responses % of Positive Negative Responses % of Negative                Govt giving importance To Mfi 42 78% 12 22% MFI staff Well trained 27 50% 27 50% Loans used in Comsumption not invested 16 30% 38 70% MFI Skill Devl of client 14 26% 40 74% MFI and Banks Forbidden 43 80% 11 20% Norms about Loan 31 57% 23 43% In the above section, the six factors highlighted addressees the external challenges of MFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s in the market of Pakistan. Govt.à ¢Ã¢â€š ¬Ã¢â€ž ¢s due importance to the sector Staff trainings by the MFIs Utilizations of the loans Importance of clientsà ¢Ã¢â€š ¬Ã¢â€ž ¢ skills development by the MFIs Islamic point of view Local norms Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s clear from the table 1(b) that à ¢Ã¢â€š ¬Ã…“Government is giving due importance to MFIà ¢Ã¢â€š ¬?, out of 54 respondentsà ¢Ã¢â€š ¬Ã¢â€ž ¢ 78% response positively and 22% in negative. It means Government considers MFI as a very important sector in the country development process. Second question is about Microfinance Institutionsà ¢Ã¢â€š ¬Ã¢â€ž ¢ staffà ¢Ã¢â€š ¬Ã¢â€ž ¢s training level; there is 50% response in positive and 50% in negative. This indicates that MFI staff working in market needs adequate training. Ultimately, their training may draw some positive impact on MFI sector in specific, and at large it may benefit the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy. Third and the most important factor about the utilization of loan money by client, surprisingly 70% of respondents say that loans are used for investment purpose by client and not for personal consumption. However, 30% of respondents believe that loan taken by client is used for their private consump tion. The fourth question is about MFI attitude towards clientà ¢Ã¢â€š ¬Ã¢â€ž ¢s skills development shows; only 26% of responses are positive and 74% responded negatively. This result indicates a gap for policy makers of MFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s concluding that they are not putting due efforts in their business because their client is usually not only poor but also lacking management and other skills. Further research can be done on the level of skill of client and the growth of their business and relationship with MFI. The second last question in the first section addresses the perception of the client about financial institute in religious perspective; 80% of respondents are positive that financial intuitions are largely perceived as non-Islamic. This issue can be resolved by focusing on the establishment of Islamic MFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s or marketing the concept of microfinance more aggressively. Final question is about the norms restrictions on the financial sector, again 53% of responses are positive about the existence of such norms and 43% are negative. We may say that in future these norms may go to decline. Section 2 Internal Challenges Questions 1 Strongly Agree 2 Slightly Agree 3 Agree 4 Slightly Disagree 5 Disagree 6 Strongly Disagree 7 Not Know Total no of Response                            Inadequate flow of cheap funds 0 6 34 7 5 1 1 54 Limited No of MFI 2 9 36 4 0 0 3 54 Mitigate the risk factors 0 0 28 26 0 0 0 54 Inaptness of usual banking 0 0 28 26 0 0 0 54 Quality human resources 25 0 0 29 0 0 0 54 Lack of effective alliances 4 6 22 15 5 0 2 54 Comparison of Frequencies             Questions Positive Responses % of Positive Negative Responses % of Negative                Inadequate flow of cheap funds 40 74% 13 24% Limited No of MFI 47 87% 4 7% Mitigate the risk factors 28 52% 26 48% Inaptness of usual banking 28 52% 26 48% Quality human resources 25 46% 29 54% Lack of effective alliances 32 59% 20 37% Internal Challenges The section 2 of the challenges is about the key internal challenges faced by MFI. We have discussed six different internal challenges; the first and probably the most important challenge is about the availability of other cheaper financial resources. 74% of the respondents agree that the availability of other cheaper source of finance is a great challenge for them and 36% responded in opposite. This indicates the fact that the cost of borrowing is high for small borrowers. Effort should be done to make small loans available at some competitive cost in comparison to other financial products. About the limited physical presence of MFI, 87% response is positive and only 13% is negative, which again reveals the gap for policy makers that the limited presence may be the major cause of low performance and growth of MFI sector. The third question is about the general inability of MFIs about risks and standard practices; 52% responded positively about the situation but 48% do not agree. We may say that there is a great need for MFIs to mitigate the risk factors and adopt the standard practices. The fourth question is about the incompatibility of conventional banking with the need of microfinance product; 52% of respondents are positive about the inaptness of conventional banking with microfinance product need while 48% do not agree that there is incompatibility of microfinance need and traditional banking. So we may say that a second majority of MFI believes that conventional banking system can also cater to the need of microfinance product. The second last question of this section is about the availability of quality human resource in comparison to other financial institutions; 48% of the respondents are positive about the availability of quality human resource due to scare funds while 52% do not agree. This shows that availability of quality human resource is not much of an issue in MFIs. Final question is about the lacking in value chain and delivery process of mic rofinance product; a majority of 59% is positive that there are lacking in value chain and delivery process, but 37% are of opposite view and 4% are uncertain about the answer to this question. Section 3 Prospect/Opportunities Summarized table of Prospect of MFIs Questions 1 Strongly Agree 2 Slightly Agree 3 Agree 4 Slightly Disagree 5 Disagree 6 Strongly Disagree 7 Not Know Total no of Response                            MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ promote all kinds Business 8 4 18 18 6 0 0 54 MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ most effective against poverty 18 7 20 3 0 0 6 54 In crisis, MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ role 20 8 20 5 0 0 1 54 MFIs promote economic growth 26 0 28 0 0 0 0 54 MFà ¢Ã¢â€š ¬Ã¢â€ž ¢s aim is not only poverty purge 26 0 28 0 0 0 0 54 Partnership between commercial banks MFIs 20 0 18 7 0 0 9 54 Comparison of Frequencies Questions Positive Responses % of Positive Negative Responses % of Negative                MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ promote all kinds Business 30 56% 24 44% MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ most effective against poverty 45 83% 3 6% In crisis, MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ role 48 89% 5 9% MFIs promote economic growth 54 100% 0 0% MFà ¢Ã¢â€š ¬Ã¢â€ž ¢s aim is not only poverty purge 54 100% 0 0% Partnership between commercial banks MFIs 38 70% 7 13% Prospects/Opportunities The third and the last section is about the opportunities for MFIs, first question is about the promotion of different kinds of business through MFIs; 56% of respondents are positive that MFIs are promoting all kinds of business and 44% do not agree. The second majority of respondents believe that MFIs are not addressing all kinds of business. Hence, there is a need to look at the different kinds of businesses served by MFIs. In the question about the role of MFI,s in reduction of poverty, 83% are positive about the role of MFI in poverty reduction, while a minority of 17% do not agree. The fourth question about the role of MFI in economic growth of country; 100% respondents advocate that MFIs are working for the economic development. 100% respondents are positive that MFIs are not only working against poverty but also playing some other roles too in economy. Finally a 70% of respondents are positive about the alliance of commercial banks and MFIs , 13% do not agree about the allianc e and 17% are uncertain. CONCLUSION AND RECOMMENDATION In this study, conclusions will be drawn on the basis of literature review and analysis made through market research. The reasearch is divided into two parts: conclusions and recommendations. Conclusions From this study we conclude that; Government is providing due importance to MF sector. MFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s staff needs training which can impact positively on MF Sector. A majority of 70% believe that loan is utilized in investments activities rather than personal consumption. MFIs have very low attention toward its clientsà ¢Ã¢â€š ¬Ã¢â€ž ¢ skill development. A majority of population perceive MFIs and other financial services against their religious beliefs. Lastly norms and culture poses threats to MFIs and Banks. Cost of microfinance is relatively high in compassion to other financial products. Standards of practices and processes need improvement in MFIs. Alliance of commercial banking and microfinance is viewed as positive. Recommendations MFIsà ¢Ã¢â€š ¬Ã¢â€ž ¢ staff working in market needs adequate training. Ultimately, their training will draw some positive impacts on MFI sector in specific and may also benefit the economy of the country at large. MFIs are not putting due efforts in their business because their client is usually not only poor but also lacking management and other skills. Further research can be done on the level of skills of the client and growth of his/her business to elaborate the different skill levels. There may be a need of Islamic MFIs or marketing the concept of microfinance more aggressively to avoid the potential biasness in financial organizations. Effort should be done to make small loans available at some competitive cost in comparison to other financial products. There is a great need for MFIs to mitigate the risk factor and adopt the standard practices. Limitation of Research This study had the following limitations The author was not able to distribute the questionnaire to company executives all over the country. Time period to conduct the study was very limited. Some of the respondents did not answer the questions seriously Sample size was limited to 3 cities only which cannot be easily applicable to all population of Pakistan. The questionnaire was sent to respondents through e-mail. It was not feasible for the author to conduct the interviews personally. All respondents canà ¢Ã¢â€š ¬Ã¢â€ž ¢t maintain same level of accuracy in answering the questions due to lack of time and interest. It may create little discrepancy to some extent in formulating the conclusions. Refrences www.sbp.org.pk/publications/prudential/micro_prs.pdf www.sbp.org.pk/l_frame/MF_Bank_Ord_2000.pdf Kofi, Annan. UN secretary,.2007. Avalibale at  : https://www.diplomatie.be/en/travel/visa/default.asp Herani, Gobind M, Rajar , Allah Wasayo, Wasim, Mohammad Pervez and Shaikh, Riaz Ahmed., 2008. The Nature of Poverty and Its Prospects: Pakistan Evidence. Journal of Global Economy ,4(3), pp. 183-194. Global Monetary and Financial System: Principal Issues. Journal of the Institute of Bankers Pakistan , 74 (2) pp 1-6 Available at:www.ibp.org.pk/journal/Journal-Apr-Jun-2007.pdf Pakistan Statistical Profile Available at: agingandwork.bc.edu/documents/CP03_Workforce_Pakistan.pdf M. Bauer, J. ChytilovÃÆ' ¡, J. Morduch., 2008.Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India. American Economic Review,59 (1) pp71-86 Rashed Al Hasan., K.M. Zahidul Islam., 2008. Bridging the Gap between Microfinance and SME Financing in Bangladesh: Unlocking the Potentials. Daffodil International University Journal of Business and Economics, 3.(1), pp 41-57 Shahidur R. Khandker., 2005.Microfinance and Poverty: Evidence Using Panel Data from Bangladesh .The World Bank Economic Review, 19(2), pp263-286 Jonathan Morduch., 1998. Does Microfinance Really Help the Poor? New Evidence from Flagship Programs in Bangladesh, Department of Economics and HIID Harvard University. Available at: www.princeton.edu/rpds/papers/pdfs/morduch_microfinance_poor.pdf Grameen Bank. Available at: https://www.grameen-info.org/ Dugger, Celia W. 2004. à ¢Ã¢â€š ¬Ã…“Debate Stirs over Tiny Loans for Worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s Poorest.à ¢Ã¢â€š ¬? New York Times. Morduch, J., and Haley, B. (2002), à ¢Ã¢â€š ¬Ã‹Å"Analysis of the Effects of Microfinance on Poverty Reductionà ¢Ã¢â€š ¬Ã¢â€ž ¢, NYU Wagner Working Paper No. 1014 Available at: https://www.nyu.edu/wagner/workingpapers.html Briefing Note Summary of the Poverty and Social Impact Assessment: Pakistan Microfinance Policy May 2006 Available at: www. pipl.com/directory/name/Tazi/Hind

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It is one of the top health concerns facing children and parents in the U.S. Children that are obese face possible health concerns in the future. â€Å"The United States, Brazil, China, Russia and other countries have seen the rise of obesity in children

Broadcasting, Programming, and The Audience Essay Example For Students

Broadcasting, Programming, and The Audience Essay Broadcasting, Programming, and The AudienceSteiners ModelSteiners model on programming preferences and broadcasting choicestries to show how stations come to the conclusion of what programming to show. This model goes on the assumption that broadcasters will go after the largestaudience possible. Going on the information given about this hypothetical situation, we canpredict what each of the four stations in this market will show. There are three distinct audience preferences. The first groups of 1200viewers has a first programming preference of sitcoms and a second choice ofsoaps. The second group numbers 900 viewers and would pick cops first and soapssecond. The third group, 500 viewers, likes soaps first and sitcoms and theirsecond choice. This model says that the audience will watch their first choice firstand then the second choice, but only is their first choice is not available. Lets say that the Federal Communications Commission licenses station Ain their market. Looking at the viewer preferences, station A would start tobroadcast soaps. By show soaps, it would capture a market of 2600 viewers. Allviewers would watch because soaps is their first choice or it is their secondchoice but their first is not available. The FCC then offers a license to station B. After examining the audiencesizes, stations B also starts to show soaps. By programming to this audience, itsplits the soaps market with station A and both of them have 1300 viewers. Station B does not pick another programming because no other choice canoffer more than 1300 viewers. When the FCC offers a license to station C, things will definitelychange in this market. Station C sees the biggest audience available is thesitcom market with 1200 viewers. But when station C takes that 1200 viewers from the soap audience whichhold sitcoms as their first choice, station A and B will both drop to 700viewers. They now have to make a decision. Both can find larger marketselsewhere. One station, and it does not matter which one, will switch to cop shows. For this hypothetical, station B would choose cops for 900 viewers. Station A, who still is showing soaps, now only has 500 viewers. It doesnot like that, so it starts to show sitcoms. Audience 3, with 500 viewers, nowis watching sitcoms because there are no soaps out there. Station A and C areboth showing sitcoms and are splitting a viewer audience of 1700 for 850 each. Now that the viewers are confused about what station is showing what,the FCC offers a fourth license to station D. After examination, station Ddecides to start broadcasting sitcoms in competition with stations A and C. Allthree stations have an audience share of 566. That is more than the 500 soapviewers or splitting the 900 cops viewers with station B. Although Steiners model is not too far off what happens in todaystelevision landscape, it does have a couple of drawbacks that keeps it frombeing a true model. Steiner does not take into consideration that some audiences are morevaluable to advertisers than others. Because advertisers want certain viewers,stations might program to that audience to attract more advertising dollars. Steiner also assumes that as stations go into competition with anotherstation, they will split the audience equally. That is not always the case. Viewers will watch the station they believe has the better quality, even ifthere are two or three stations showing the same thing. This model does offer some insights on how stations and networks makedecisions. Just look at the TV Guide and see how many sitcoms there are on anygiven night. .u5202c471e1b60e1ccd3697639e693e1d , .u5202c471e1b60e1ccd3697639e693e1d .postImageUrl , .u5202c471e1b60e1ccd3697639e693e1d .centered-text-area { min-height: 80px; position: relative; } .u5202c471e1b60e1ccd3697639e693e1d , .u5202c471e1b60e1ccd3697639e693e1d:hover , .u5202c471e1b60e1ccd3697639e693e1d:visited , .u5202c471e1b60e1ccd3697639e693e1d:active { border:0!important; } .u5202c471e1b60e1ccd3697639e693e1d .clearfix:after { content: ""; display: table; clear: both; } .u5202c471e1b60e1ccd3697639e693e1d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5202c471e1b60e1ccd3697639e693e1d:active , .u5202c471e1b60e1ccd3697639e693e1d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5202c471e1b60e1ccd3697639e693e1d .centered-text-area { width: 100%; position: relative ; } .u5202c471e1b60e1ccd3697639e693e1d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5202c471e1b60e1ccd3697639e693e1d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5202c471e1b60e1ccd3697639e693e1d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5202c471e1b60e1ccd3697639e693e1d:hover .ctaButton { background-color: #34495E!important; } .u5202c471e1b60e1ccd3697639e693e1d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5202c471e1b60e1ccd3697639e693e1d .u5202c471e1b60e1ccd3697639e693e1d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5202c471e1b60e1ccd3697639e693e1d:after { content: ""; display: block; clear: both; } READ: Dissenting opinions should be abolished UK EssayThis also shows why some minority viewers never get programming directedat them. The stations are going to the majority audiences which have largernumbers. The minority viewer preferences, under these model, have to haveanother station before they get to see their shows, in this situation. First Copy CostsFirst copy costs in the newspaper industry are the fixed costs of owninga paper and printing the first one. First copy costs include the money spend on items that are necessary forthe newspaper to be printed. These fixed costs do not vary as the number ofpapers increases or decreases. Because they do not vary, they are very importantand must be covered by advertising and subscriptions. These fixed costs include the physical plant,

Custom Essays For Sale - How to Choose the Right Company to Sell Your Essays

Custom Essays For Sale - How to Choose the Right Company to Sell Your EssaysIf you're looking for custom essays for sale then you need to get some tips. You can buy them off the Internet, or from an agency that specializes in selling them. Either way you can save yourself money and get the right thing to write.The internet is littered with websites dedicated to offering you essays to sell. The quality of the writing they provide can be very poor, but it's very tempting to purchase them anyway. Before you buy something like this you should be aware of some of the factors you should keep in mind to get the best writing services for your needs.One of the biggest things to watch out for when considering buying a writing service is their ability to update their product. Sometimes the products they offer are offered on a trial basis. This is fine if you don't plan on using it to write a professional article, but it's not very beneficial if you're going to write business documents.You can s ave yourself a lot of time and effort by using a service that offers essays to sell instead of using their writing service. Custom essays for sale are extremely valuable to writers and business people that want to sell their own works. When someone decides to sell their own essay online or in a library, they can find themselves wasting a lot of time writing essays to sell because the website doesn't offer them with updated versions.The only way you can make sure a company uses writers that will work for you is to make sure you have the right agent to get a copy of the finished product. Many businesses and students think that they can get the services of a company that will offer them essays for sale to save them money. They do not realize that by buying the product, they will be forced to pay more for the service than they would if they purchased it off the internet.Toget the most out of your service, you will need to hire a company that will give you a copy of the final product in advance of writing your document. In most cases the company will send you a scanned copy of the final document to review before it goes live. You will also be able to review the document before you give it to the company.Make sure you read the contract very carefully and don't be tempted to break any of the rules set forth for you by the company. Many times an outline is needed when you purchase essays for sale and this is what you must follow. You cannot just rewrite an outline to fit the demands of the company.It's a good idea to set up a meeting with the writer so you can get to know each other. This way you can tell the writer what you want to write and you can give them examples of how you can write your document. The point of the meeting is to give the writer a chance to write a sample document and learn about you as a writer.

How to Use Physics Extended Essay Samples

How to Use Physics Extended Essay SamplesPhysics Extended Essay Samples are usually a required course in high school or college, and students need to know how to use them. Many individuals struggle with this style of writing and often find that it is not for them, but others appreciate the elegance of a good physics essay and get the most out of using extended essay samples.A work of fiction does not have to be an autobiography, nor does it have to match the original author's style. There are countless authors from different genres and writers who have chosen to write short stories and novels. In general, though, individuals have more freedom to use their own ideas and you may have one idea you really like, and in which case you are free to use it, or you may have a different idea that is a little too unique to be included in an extended essay sample.Physics Extended Essay Samples are a great way to put your thoughts in writing, which gives you a good amount of control over the style of your essay. Writing essays for the first time may be scary, but making sure you express yourself with style is essential. There are many ways to write, including essay samples, which are some of the best ways to ensure that you are able to express yourself in the best way possible. When creating a brand new essay, there are a few things you should keep in mind:Make sure you choose essay samples wisely. If you choose to use an extended essay sample, be sure that you understand all of the guidelines for writing an essay, such as how to define the main ideas in your essay, how to organize the sections, and how to determine how much space to give each section. Most of the time, you will get a free essay that will help you decide what to include and when to end. This essay sample can also offer a sample of how to apply certain ideas in your own essay, which is an added benefit.Also, when using an essay sample, be sure that you know how to write a proper letter of introduction and the n an appropriate body of the essay. You will want to follow the same format as in the sample essay. For example, when writing an essay sample for your physics class, you will want to follow the format used in the homework. However, you will probably have to edit out parts of the essay if you are unable to finish the course as written, as this is what works best in a given situation.Make sure you research any writing samples that you use, though, as you may find that it is not a good idea. Remember that in writing, it is often important to avoid repetition of ideas. So it may be better to find a few essays to try, or to use other writing samples.However, when you are confident you have all of the ideas down and you are ready to begin writing, do not rush into anything and allow yourself time to write. By following these tips, you will be able to get the best out of your writing and be assured that your essay will get into your classmates' hands. After all, being a good student should not stop at college, so get the most out of your extended essay samples by learning how to write well.

The Pain of Free Essay Samples

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Sample Essay Questions

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