Research Paper on Micro Credit in Poor Economies

2021-07-13 01:48:23
5 pages
1353 words
University/College: 
University of Richmond
Type of paper: 
Research paper
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The learning experience in the course was great, in that, I learned various new ideas as well as various challenges and decision makers face in their daily activities. From the research process, I have learned that governments do a lot to improve their economies, and at the same time, the people involved in various policy decision-making activities are faced with a great challenge. The course opens the mind of students in that it prepares one to be creative in the work environment where there are many challenges and one has to evaluate various alternatives. An example is a need for microfinance to risk the money they lend to small-scale businesses since they are not assured that such loans will be repaid. However, these organizations realize the opportunity that exists in lending to business people who have very low chances of getting loans from the banks. The value of the learning to me is that I am prepared to ensure that whatever challenges in my profession, I should evaluate the opportunities that are evident in such challenges. This is the only way to distinguish one's self from the rest of the professionals in my field.

The learning process will be of help to my course and program in various ways. Whenever studying a real-life situation issue like the case of microfinance loans, I will always evaluate it taking consideration of the different points of view, regarding benefits and disadvantages as well as challenges to get a better understanding of the situation. By doing this, it will be possible to have a better understanding of the topic hence present it to the instructor in the best way possible.

When making a decision, one has to evaluate the impact that it has both to the decision maker and other people who are around. I have learned this considering the topic that was selected for the study. One had to evaluate the challenges of providing loans as well as the benefits that it has to the societies in the developing countries. Regardless of the difficulty of a decision, one has to consider the interest of the other people in the society in real life situation.

In the future, I will ensure that whenever I or someone I know has a business idea, they can have a way of implementing the same. There are organizations in the developing countries committed to helping small-scale businesses, and this gives hope to everyone who has an idea that can grow to become a large business. The learning process thus gave me hope that one can always get a solution to a challenge that they face such as financial shortage for businesses.

During the learning process, I had to red various books and find out the information about the topic that I had selected. Choosing various books ensured that I had information from sources that were not biased. A detailed study about the position of the various authors helped me make a comparison from the different points of view about the topic that was selected. In addition to the arguments that were presented by the books, I had to evaluate various news articles as well as journals that report about the situation in various countries about the economic issue that is under study. This helped me connect the theory that is presented in books to the situation that world economies are facing in the current situation. This is important in that it helps a student have a clear view of the reality that is being faced in the real-life situation. It prepares one to deal with similar events in the future when they are required to make important decisions.

The business research process was important in helping me get the reality about the topic, and eliminate any assumptions that are related to the topic. The topic helped me understand how the various stakeholders in business make their decisions, such that they are all interested in getting some benefits. Without proper research, one would think that one stakeholder in the business, such as the microfinance institutions are too greedy to make profits at the expense of the poor people in the society interested in starting a business. The research helped me evaluate the issue from the view of business individuals and the microfinance institutions, hence understand why there exists a challenge that makes the topic of importance to study. Since there are various unbiased authors, one is more informed by reading their views and results of studies so that they can understand the real issue and suggest the possible solutions to the existing problem. Research is thus very important in every business situation in that it can help one make a decision that is rational and benefits all stakeholders.

The learning process was procedural, and there was a need to ensure that the report focused on the specifically selected area of study. After the choice of the topic, there was a need to select the objectives that were to be achieved after completion of the topic. A literature review was important in understanding the gaps that exist in the topic and as well as the views of various experts. After collecting all the data that was needed, there was a need to reread the completed paper and confirm that everything makes sense. After collecting the information from various sources, there was a need to come up with the final comments about the topic. All these activities ensured that the report was not only completed, but there was a clear understanding of the issue that was being studied.

The learning will be used in the future in both profession and personal life. When there is a need to understand an issue in detail, I will be in a position to define the problem, and then collect the various needed data and information to complete the needed research. After studying the different points of view of the selected topic, I will always be able to make an informed decision. It, therefore, means that I will always be able to make an informed decision that can solve problems at my personal level as well as organizational level in case am working for another company. It will also be possible to come up with reasonable policies that are well thought about. Policies especially in government institutions have to evaluate the impact on the various people in the society, and this is why research is very important. With the clear understanding of the various stages of conducting research and how to get the needed information, I believe that I have learned an important process that will remain important in solving problems that I face at various levels.

 

References

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Brambilla, P., Bell, E., Sever, C., Bridge (Organization), & Vienna Institute for Development. (2001). Gender and micro credit: Useful resources. Brighton: Bridge.

Cramm, J. M., Paauwe, M., & Finkenflugel, H. (2012). Access to Microcredit Schemes Q-Sort Measure. Psyc tests Dataset. Doi: 10.1037/t34766-000

Edegbe, U. B. (2014). Microfinance and Poverty Reduction. Hamburg: Diplomica Verlag.

Farhi, E., Golosov, M., & Tsyvinski, A. (2008). A theory of liquidity and regulation of financial intermediation. Roma: a study of monetary, banker's financier Luigi Einaudi.

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Human Sciences Research Council. (2002). Micro-finance in rural communities in Southern Africa: Country and pilot site case studies, policy issues and recommendations. Pretoria: ComPress.

Islam, T. (2016). Micro-credit and poverty alleviation. London: Routledge.

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Lando, D. (2008). Credit Risk Modeling: Theory and Applications. Princeton: Princeton University Press.

Leon, D. A., & Walt, G. (2002). Poverty, inequality, and health: An international perspective. Oxford: Oxford University Press.

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