Mind and Rumors Essay

Rumors are dark, hurtful, mischievous things that are spread to cause destruction. Rumors have been around since the beginning of time, and are stronger now more than ever. Rumors are whispered, as if to indicate that they will not spread. Rumors are shouted, printed, posted, and broadcasted. Rumors are lies and those whom associate with rumors are bad people, or are they? Rumors are not always bad, and they don’t always turn out to be lies. There are many unknown things about rumors, like how and why are they really created? DiFonzo defines a rumor as â€Å"†¦unverified information statements that circulate about topics that people perceive as important; arise in situations of ambiguity, threat, or potential threat; and are used by people attempting to make sense or to manage risk† (375). A rumor starts out as an important thought in one persons mind. A thought that is kept to oneself merely stays a thought and never develops into a rumor. But, a thought that is just important enough to share with someone else morphs into a rumor. Rumors are not always intentional lies. They do however start out as unverified information. If a rumor is verified it is no longer a rumor, it then becomes factual information. The information that is passed from one person to many people is thought to be of importance. Whether the rumor pertains to something local, nationwide, global, social, political, public, or private it contains information that is substantial and has the possibility to be life changing. A rumor is targeted to a certain group of people. The spread of the rumor depends on the number of people who perceive the information as important. The group can range from a few people to the majority of the world. A rumor of â€Å"Bob cheated on Mary with Susan† would certainly be very important to a small number of people and could devastate their lives. On the other side of the spectrum a rumor that â€Å"An asteroid five times the size of Saturn is headed toward earth and total death is imminent† would also be of great importance and would affect many people. Rumors are born, bred, and sought out of human emotion. The amount of rumors increase in times of perceived danger, threat, and stress. â€Å"In practice it has been found that the emotional needs most frequently served by rumors are wish, fear, and hostility† (Knapp 361). A rumor is spread or sought to satisfy an emotional need of hope, comfort, fear, and hostility. Therefore it makes sense that the amount of rumors increases during stressful times. In the aftermath of the recent tornados in Oklahoma, rumors exploded. Social media, radio stations, and television stations broadcast the information from the moment of touchdown. Two different television stations broadcast contradicting information at the same time and facebook erupted with photos, videos, and information. People were calling other people, turning on the television, and getting on facebook to seek information or give it. They sought answers, comfort, and hope. Why then do some rumors flourish and are known all over the world and others die out after only a short run? One reason has already been brought up, the number of people who consider the information important. A rumor can live longer if it is adaptable to its audience. A rumor that has information added to or taken out may appear more important to certain groups. Another factor in a successful rumor is the length of it. A rumor that is long and complicated will be hard to remember and hard to tell. Another reason is the desire for humans to be accepted. People will agree with someone else even if they are not sure themselves to avoid hostility and risk losing other peoples good opinion of them. Perhaps people agree because of self-doubt. If one person thinks a rumor is wrong but is hesitant to disagree because the majority believe it to be true then they must be wrong and not the group. People’s personal and social anxiety can escalate a rumor fast and wide. If the majority of people are passive, have self-doubt, or want to avoid conflict then the number of people who perceive the rumor to be true increases. Sunstein states, â€Å"Often people will be suspicious of a rumor, or believe that it is not true, but they will not contradict the judgment of the relevant group, largely in order to avoid social sanctions† (393-394). In conclusion, it is sufficient to say that rumors are more complex than originally thought. They have distinct characteristics and classifications that define them. The most successful rumors are important to the world. If a rumor is assembled just right under the perfect conditions, the result are everlasting.

Callaway Golf Company- Manufacturing Inventory

Answers to Case 6: Callaway Golf Company-Manufacturing Inventory. a. The costs expected to be in the raw materials inventory are: costs of materials such as wood, iron, plastic and/or optic fiber that have yet to be placed in production. The costs expected to be in the work in process inventory are the cost of materials placed in production plus the labor and allocated overhead utilized so far. The costs expected to be in the finish goods inventory are the materials, labor and allocated overhead incurred to make the finished products on hand. b.Inventories are net of an estimated allowance for obsolete or unmarketable inventory. c. i. The Reserve for obsolete inventories’ account does not appear on Callaway’s financial statements because it has already been subtracted off the inventory account. The gross amount of inventory at the end of 2006 is $247,795. 00, and at the end of 2007 is $232,872. 00 Of the $20,129. 00 of reserve for obsolete inventory, $6,537. 90, is attr ibutable to raw materials inventory, 154. 99 is attributable to work-in-process inventory, and $13,436. 11 to finished goods inventory. d.JE to record activity in reserve for obsolete inventory during 2007 (in thousands) Cost of Sales$ 12,182. 00 Provision for obsolete inventory12,182. 00 Provision for obsolete inventory 9,368. 00 Inventory 9,368. 00 e. i. The cost of finished goods sold in 2007 was $619,186. 00 The cost of finished goods transferred from work-in-process in 2007 was$247,109 iii. The cost of raw materials transferred to work-in-process in 2007 was $90,982. 00 The cost of raw materials purchased during 2007 was $87,369. 00 v. The amount of cash disbursed for raw-material purchases during 2007 was $54,350. 00. ($95,297. 00-$40,947. 00) Read also: Advantages and Disadvantages of Administrative Management

Bend It Like Beckham Analysis Cultural Studies Essay

Bend It Like Beckham Analysis Cultural Studies Essay Since the 1950s Britain has gone through an intense period of accelerated social and cultural transitions. These changes come from the results of the disintegration of the British Empire, the expansion of the Commonwealth and the movement of people from various nationalities, languages and cultures. These phenomena have supported the progressive globalization of life and conceived a multi-ethnic and multicultural society, with a strong plurality of identities and heritages. One of the most driving motions for development through this phase has been the women’s movement. Their entry into the labour market and their increasing independence has brought fundamental changes in their position in society and their relations with men. Similarly, the emergence of youth as an identifiable group with a very different lifestyle to members of older generations, has contributed substantially to the changing social and cultural profile of the country. The younger generation has a more equal ity view of the role of women in society. The Hofstede analysis for Britain reports strong feelings towards individualism and masculinity. On the other hand, the power distance and uncertainty avoidance are ranked considerably low. Long-term orientation ranks the lowest. This study indicates potential change that Britain is willing to achieve rapidly with the new generations. Men and women mix freely, with independent relationships to one another. In the football club girls are all very open, they can get in touch with strangers very easily, undress without any shame. And Jess behaves on the contrary. The most vivid example of the British youth’s independence is the fact that parents can’t interfere in Jules’s private life, even when it deals with her sexual orientation. According to Hall’s scale of levels’ of cultures, British culture is a low level context culture because the messages are clear and the words carry most of the information in most communication (for example, when the coach sees that Jess has problems with her parents because of football, he goes there and tells them about his opinion, without any rituals, very directly). More interpersonal connections of shorter duration exist in Britain. Even choosing football in this movie seems to reflect the low level context British culture is experiencing. Football is one of the most rule and goal-oriented, strictly defined and team playing games (where each has its own job). According to Hall’s cultural theories, British culture seems to be the mix of the past-oriented and future-oriented cultures. Old generation is still trying not to lose traditions, they are still very conservative but the younger people are much more future-oriented, as it is very obvious from â€Å"Bend it like Beckham†. In conclusion, British culture is definitely an individualistic one, due to its high level of individual independence, goals and concept of individuality over group goals. Individuals have universal communication and equal attitude to everyone, in the family and in everyday life where men and women enjoy equal rights. It’s also a feminine culture with several specific features of male culture. British culture is a low level context one where people play by external rules, they have separation of time, space, activities, relationships; more interpersonal connections of shorter duration; almost everything is task-centered (decision and activities focus around what needs to be done, division of responsibilities) and so on.

Treatment of a patient with dog-bite wounds Research Paper

Treatment of a patient with dog-bite wounds - Research Paper Example Upon seeing the patent, the first indication was to treat her with flucloxacillin. However, flucloxacillin. However, I just realized that most dog and cat bites contain Pasteurella multocida which is ten times more likely to cause infections after an animal bite and in many cases this is resistant to flucloxacillin (Morgan & Palmer, 2007). Hence, flucolcaxicillin is to be used with other medication and this was going to cause more complications for the patient.Hence, there was the need to select a more specialized medication. There was the need for a medication that will help the patient to deal with any growing threat of infection that could result from the dog bite. This is because allied complications like tetanus and other possibilities were effectively eliminated. In this case, the patient is a 30-year-old lady. In this situation, the patient is to be viewed as an adult and a female. And hence, her condition and situation were to be considered in-depth. As a matured patient, she was expected to be capable of signing her contracts and also dealing with various complications. However, further details like her work commitments and family commitments were necessary to arrive at the right and most appropriate approach and method of dealing with the situation. With the information available, it was apparent that she qualified for adult medication and other social considerations like going home and going to work among other things were to be considered.

In media studies, the critique of ideology is deployed to analyze Essay

In media studies, the critique of ideology is deployed to analyze issues of power in highly stratified liberal democracies. Usin - Essay Example In contemporary times, the influence and responsibility of the media is expanding because of the development of information technology, which is producing new forms of mass media. According to McLuhan’s Technological Determinism theory, the media determines social and cultural changes in communication technology. Therefore, nowadays, the role of the media seems more important than ever before, and if it does not function properly then we cannot expect society to progress in an orderly fashion. Also, in order to become a more productive society, press freedom should be safe from harm, and additionally, critique of ideology should be allowed to function because the critique of ideology observes how appropriate the role of media is in providing answers for society. The critique of ideology also makes people judge misinformation and insists on demanding the truth. However, there is another way to communicate with society: through culture. According to Raymond William, culture can refer to high culture, folk culture, or, in terms of industrial societies, mass culture. As he mentions so often, culture contains human thought, art, and mentality. Culture is the most traditional and natural way of communication between people in society. Therefore, it is significant to study about ideology, and furthermore, what the critique of ideology accomplishes in a liberal democracy. Ideology has multiple meanings, as shown in Olivier Reboul’s classification of ideology. In a book called Language and Ideology, Olivier Reboul classifies ideology to the Napoleon meaning, Karl Heinrich Marx meaning, and sociology of knowledge meaning by Karl Mannheim (Reboul, 1994). First of all, for the Napoleon meaning, according to the document that his secretary kept, he defined it as a disturbance that blocks flexible ideas for hypocrites. He also described that it refers to a person who is abstract and an idealist. It is not used all that commonly, so it will just be treated as hi storical meaning. For the Karl Heinrich Marx meaning, Marx defined ideology as false consciousness, using the metaphor of a camera obscurer. False consciousness means only showing a portion of a concept, and this makes people misrepresent the idea; it does not show what the full picture is. This kind of fantasy intimates with religious and moral principles. In this case, the subject who makes an ideology is dominant, and the person who receives the distorted information is weak and receives unfair treatment. Over time, ideology is a system of awareness or notion that is made from the dominating party. The problem with this is that particular information is accepted as common knowledge to the receiver. The Napoleon meaning criticizes the existing rulers while the Marx meaning is trying to remedy society. However, the last ideology’s meaning is completely different from the above two meanings. This ideology comes from the Hungarian-born German sociologist Karl Mannheim, and is called the sociology of knowledge. This idea is based on neutrality and first appeared in the 20th century. He terms ideology as every image that can be seen in a certain group. He emphasized that the composition of a group helps the group to work together. This idea is less controversial than the other two and is a unique cultural idea; however, it’s true that this makes it more open to debate. How does ideology apply to cultural

The breakdown of American family Essay Example | Topics and Well Written Essays - 750 words

The breakdown of American family - Essay Example This paper discusses some of the most important problems of Americans today and discusses their cause-and-effect relationship with the breakdown of family. Problems discussed are drug addiction among teenagers, teenage pregnancy, abortion, and suicide among Americans. Drug addiction is on a rise in America today. A lot of teenagers fall prey to this habit and end up ruining their academic and professional career and in the long run, their life. Teenagers adopt this habit because of lack of parental supervision. This is the reason why drug addiction among teenagers is far lesser in the more reserved and family-oriented nations as compared to America. Teenage pregnancy is another outcome of breakdown of the family in America. Teenagers have no one to keep a check over them taking benefit of which, they indulge in physical relationships with their fellows before the appropriate age. This causes increase of pregnancy among teenagers and also abortion. Rather than accepting the responsibi lity, teenage girls tend to come out of it as soon as they realize that they are pregnant and thus, go for the abortion. The increasing suicide rate is the outcome of depression caused by the feeling of guilt and trauma because of such wrong decisions in life as drug addiction and physical relationships. ... This has promoted the culture of cohabitation in America which is one of the biggest threats to the sacred institution of marriage. People tend to cohabit as it relieves them from the financial and legal implications of the marriage. On the other hand, people that do marry have large tendency to have their marriage failed, because the partners have not learnt to compromise from their parents. Thus, breakdown of the family system in America is both a cause and effect of the increasing divorce rate among the Americans. The family system promotes a healthy culture wherein people can relate to one another psychologically and emotionally. Members of a family assume certain roles and responsibilities that they are obliged to perform in the capacity of the family-member. Rights come with responsibilities. Parents can only have a right over their children and their lives when they have grown up if they have been fulfilling their responsibilities as parents when the children were young and re ally needed their attention. Love of a mother and a father is essential to the development of confidence, self-esteem and most importantly, the identity of a child. It is the very lack of identity caused by the breakdown of the family that inculcates carelessness, irresponsibility and self-centeredness in people and they indulge in such behaviors that cause them to repent in the long run. â€Å"[T]he importance of the family in binding generation to generation, inspiring love and intimacy in the home, and fostering industry and lawfulness within the broader community† cannot be overemphasized (Carlson). Concluding, sustenance of a strong family system is fundamental to the solution of

Health Promotion Teaching Plan Research Paper Example | Topics and Well Written Essays - 750 words - 2

Health Promotion Teaching Plan - Research Paper Example at the rules stipulated in the memo can be reviewed and a thorough checking be conducted in order to ensure that the students have obeyed them to the letter. The historical exercise of â€Å"hands on† teaching in healthcare professions, whereby students learn through practice on real stress reduction strategies, diet and exercise under supervision, may not be justifiable as the principal model for preparing healthcare experts. This challenge could be aggravated by the advance of directed health plans; patients paying for their own healthcare may refuse to serve as â€Å"teaching material,† the price traditionally paid for receiving care at a teaching hospital or public clinic. Consequently, real people with wellness problems are needed to avoid of caregivers shortages under such situations ( Riley, 2008). The instructor will listen to how the other nursing students respond to a given incident and provide guidance where needed. The observational notes will be look over during the next class with all students. Nursing students learn in two ways, through text books, and by being in a hospital environment, which allows them to familiarize themselves with real life situations; as such, the lesson provide a way for the students to practice in an environment that is comparable to a real life situation. This will better prepare the students for their upcoming healthcare nursing studies (Loyd, Lake, & Greenberg, 2004). The main challenge faced by nursing students is that they are not familiar with carrying out proper procedures during circumstances that are covered in their textbooks, and it is for that reason that nursing students need to be able to have a way to practically apply the proper procedures of the medical field’s practices, especially in health and wellbeing. The practice of using role-playing scenarios at random throughout a course of study considerably helped students to be prepared to act on any situation as if they were in a real situation ( Sanchez,

The Notion of True Belief Essay Example | Topics and Well Written Essays - 1500 words

The Notion of True Belief - Essay Example This paper will begin with a brief introduction to some of the crucial, but general aspects of the author’s position, and in turn, proceed to a more pointed discussion of the nature of the notion of belief, according to Audi. According to Audi, the notion of ‘belief’ can loosely be translated as opinion or belief, and it is a term which comes from the Ancient Greek. To claim, or to maintain that there is an ideal form of a belief, is to defend the belief in some sense. For Audi , he presents at the first level, the notion of a belief in terms of the connection with the notion of knowledge â€Å"through acquaintance† [Audi, 2003, p. 36], which is a notion which was developed by Russell. He argues that there is sufficient evidence, through the knowledge by acquaintance notion that a belief is justified as a form of knowledge if the object of the belief in question has some form of ‘propositional content’ or â€Å"inference from propositions abou t them† [Audi, 2003, p. 36]. That is, where there is a correspondence between the propositional content on the one hand, and on the other hand, the belief which there is supposed to be a relation with. For example, and in keeping with Russell’s notion of acquaintance, there is a difference between the propositional content of a sensible referent, and one which is connected with rationality or mathematics [Audi, 2003, p. 58]. That is, if I can say that I believe that the sun will rise tomorrow, it follows that the propositional content of the belief in question refers to a sensible phenomena on the one hand, and the laws of probability or the nature of experience which would lead me to believe in such a proposition [Audi, 2003, p. 37]. However, those which are connected with acquaintance are a form of knowledge where the propositional content does not necessarily have a sensible referent involved. For example, the belief in the truth of a mathematical proposition. For ex ample, it might be said that the proposition F(N){N +1 + 1 . . .}, is a proposition which has a potentially infinite chain of sequences of integers which will follow. This is an example of knowledge by acquaintance in the following regard: first, it is not a form of propositional content which has a truth which is guaranteed through experience, and second, it is obvious that nobody could experience this in the first place. However, there is the experience of acquaintance. That is, the familiarity with the mathematical reasoning involved with the proposition. That is, where the consequence which cannot necessarily be demonstrated through ‘sense’, can be demonstrated by the very rules of mathematics. As is noted by Audi, this has always been an important aspect for the consideration of theological or religious questions in the â€Å"medieval† context, which he describes in terms of the â€Å"analytic† dimensions of the concept of belief [Audi, 2003, p. 97]. As Audi points out in these pages, the notion of form which is connected to analytic truths are important in a number of senses which are germane to the notion of acquaintance. As a form of knowledge which is of rational truths, it is not the case that the truths are guaranteed by anything more than the rules which govern the given proposition, and it is important that they are known to be beyond sense experience, and hence, beyond the form of reductive thinking which

Today's Mother Essay Example | Topics and Well Written Essays - 750 words

Today's Mother - Essay Example Being a mother in the modern world implies being capable of juggling amid family life and career life. It involves bushel of stress and sometimes results in a lot of guilt especially if the mother cannot meet the dubious societal expectations. The mothers are supposed to bear babies but requests for maternal leaves are sometimes viewed with resentment. Modern women and particularly mothers are overstrained with idealistic expectations of motherly perfection. The unrealistic expectations are inflicted by the society or they impose on themselves. The standards set for the woman to meet are unrealistic and detrimental to the mother’s personal and professional existence. A professional mother is expected to fulfil obligations such as breastfeeding without taking advantage of artificial options available. A mother who chooses to wean their children in less than two years feels guilty and inadequate since the society views such attempts with condescension. The pressure to meet the s ocietal expectations of motherhood and retain their own identity as professionals harries modern mothers. This paper focuses on how the modern demands of motherhood has challenged and undermined the identity and status of women in the society. The working mother has no choice but to act perfect and not grumble on her shortfalls to avoid being perceived as amateurish. They also have to avoid talking of any hitches they may be going through to make the word believe they can effortlessly manage between their career life and family life or else they will be disparaged (Fay, 2012). Mothers are supposed to make sacrifices on their careers, be homemakers, and become dependent on their husbands for financial needs in order to meet the societal expectations and standards. Mothers who choose to employ house helps are branded as incompetent mothers. Any misbehaviour on the children is blamed on the mother. After giving birth, the mother is supposed to ensure she retains her youthful look or el se the husband is free to be unfaithful if they are discontented with their wives. Unlike in the1950s when women did not have to work modern women have to manage both their career life and find time to be with their children as well as husbands. Lack of government policies such as paid family leave make it impossible for most mothers to breast-feed their children since most have to work in order to support their families or supplement their husband’s earnings. However, they still receive great criticism if they choose other options such as taking their children to daycares to create time to meet other obligations. Women face great challenges principally those who chose to engage in politics as they are subjected to chauvinist jokes. A woman who chooses to dedicate her life in politics is labelled a bad mother irrespective of whether she has proved otherwise (Fay, 2012). Modern women have to balance between work, love life, and family. Demand such as taking care of babies part icularly breastfeeding binds women to be homemakers. The women schedules are rigid such that it is almost impossible for them to nurse their babies and work at the same time. Having a proper social life is almost impossible for some mothers. Women have to keep apologizing to their bosses for being mothers especially when their motherhood commitments such as childbearing cannot allow them achieve their obligations at work (Badinter, 2012) Some people like Badinter blame the problem on the aspiration women to be liberal mothers. She claims modern mother can somehow be blamed for the strain they have to undergo as they try to prove to the society that they are capable of being career women and practice traditional motherhood. She claims that contemporary motherhood undermines mother’

Homeostasis in humans Essay Example | Topics and Well Written Essays - 1500 words

Homeostasis in humans - Essay Example Core to this is the human body’s management of a variety of highly complex relations, critical in maintaining either a return to, or a balance of, normal functionality of the body (Guyton & Hall, 2006:310). This is achieved through three core types of processes i.e. thermoregulation, osmo-regulation and chemical regulation. Such interactions vitally facilitate changes, which are compensatory in nature and hence supportive of both psychological and physical human functionality. In the case of an imbalance, a function is usually altered, causing a reversal of the functionality back to its normal settings (Guyton & Hall, 2006:317). This is exemplified by the function of human skin, with an increase in temperature necessitating thermo-receptor feedback to the brain’s hypothalamus. This results in increased sweating, as a way of balancing the temperature. In the case of blood pH imbalance, chemoreceptors send messages to the brain’s respiratory center, thus enhancing the affected individual’s respiratory rate (Guyton & Hall, 2006:324). Other processes crucial in the maintenance of homeostasis include the body’s balance of electrolyte and blood pressure levels. Core to this body functionality, is the input of various body organs i.e. the human brain, the kidneys and the liver. The latter two’s role in maintaining homeostasis is undisputed, with the brain’s endocrine system, hypothalamus sector, and its autonomic nervous system being core to this functionality. The human pair of kidneys is on their part essential for a number of roles i.e. the re-absorption of substances into the blood circulation; the excretion of human waste matter and urea; the regulation of blood water levels and blood pH, in addition to maintaining iron and salt levels in circulation (Maton et al., 1993:35). As Marieb and Hoehn (2007) allude, the liver provides core maintenance of

Nothing Succeds Like Success Essay Example for Free

Nothing Succeds Like Success Essay All desire success but only a chosen can be fortunate enough to get it. What is the secret of their success? What makes them a chosen few out of thousands of people struggling uselessly? Why all men and women cannot be the creators of their own destiny? Why does the spotlight shine over only a handful of people? As we all think about success, the first couple of things that come to our minds are†¦riches†¦wealth†¦a big name†¦famous. There is nothing as sweet as success. And it is the sweetest when reached through sweat and hard work. Success is the crowning glory and comes only after fighting a battle full of risks. It is the success, which motivates man to work tirelessly, and urges man beat himself and become his own competition. â€Å"Run after Excellency and success shall follow,† means that success is also overvalued sometimes. If you work hard to become the best in the field, success would come to you naturally. For example: Today Disney rakes in billions from merchandise, movies and theme parks around the world, but Walt Disney himself had a bit of a rough first step. A newspaper editor fired him because, he lacked imagination and had no good ideas. After that, Disney started a number of businesses that didnt last too long and ended with financial ruin and failure. He kept plugging along, however, and eventually found a recipe for success that worked. There are infinite examples of people who made it in their early life but what about those who don’t. Do they give up? Or keep trying until they finally hit the perfect chord? Why can’t they succeed? Why do people believe that if you fail once there is no chance of success later in life? That’s because our fear of loss is greater than the fear of gain. This Nobel Prize-winning, twice-elected Prime Minster of the United Kingdom wasnt always as well judged as he is today. Churchill struggled in school and screwed up his sixth grade examinations. After school he faced many years of diplomatic failures, as he was crushed in every election for public office until he finally became the Prime Minister at the withered old age of 62. Success teaches us many lessons in life like never giving up and trying till we finally reach to our goal. It also teaches us that no matter how high the hurdles are, you must always keep your eye on your goal. â€Å"Successful people don’t do different things, they just do things differently.†

The negative effects of being to dependt on technology Essay Example for Free

The negative effects of being to dependt on technology Essay Today’s technology is more advanced and it may make your life more easier, but today im going to give you an insight on how being too dependent on technology has it negative effects on us as people in this world. When depending on technology it will give you negative effects toward your education, behavior, and economy. â€Å"People have become too dependent on technology. Many people now won’t go anywhere without their cell phone, or GPS or even their laptop computer. People today have forgotten how to spell correctly or do simple math† according to ask.com The negative effect on education by being too reliant on. Technology is relied on more and more, children today use digital communication instead of improving their writing skills. They don’t know how to write cursive, do proper grammar, and correct their spelling. People that want or feel like their cell phone or laptop is everything to them in other words its and addiction. It makes you lose track of what you’re supposed to do for instance you’re doing your homework but you keep checking your phone or laptop knowing you have to focus. According to 500 American student 73 percent said â€Å"they wouldn’t be able to study without technology†. And 38 percent couldn’t study without checking their phone or laptop. On the other hand technology has a negative effect on behavior, lazy both physically and mentally. Physically when you’re too lazy to move because you’re so use to some type of technological equipment. And mentally because your brain become too lazy to think and less able to do critical thinking. . Automobiles make it less effort for people to move however, car accidents are responsible for more death than non-health related issue. Obesity and Physical Fitness is also a result children are overweight by 10percent because of their lack of exercise and spending countless of hours in front of the computer, or television. Instead of going out to ride a bike or play out door games. For example, I’m one of those people that depends on technology and I felled P.E. my first semester in high school because I rather txt, talk on the phone or be on Facebook. Instead of doing what I was supposed to do in a result II failed P.E. but was giving an opportunities to take an online P.E. class and take this from me if you don’t want to sit at a computer all day of the week then I would suggest do our physical  activities. \ Economic also have several different negative effects. It cost financial drain focusing small businesses to close because of machine technology are taking over. Not only can it put small businesses out of business it can also put big businesses because people look a technology as in it doesn’t take strike, you don’t have to pay them, and you don’t have to worry about a machine going on break. Its sound good but what happens if the machine break down you can’t fix it because the lack of education due to the fact you’d rather invest in technology instead of learning about the risks. The risk of it putting you and or your employees out of a job. Plus it cost those practice for the tec hnology to be even used which the money is being waste instead of being put toward something more effective. With that in mind, let’s say all technology stops and your so depended on technology that you don’t know what to do. From a simple tasked such as writing a paper without typing to knowing a problem right off the top of your head with looking it up. Or let’s say you’re a game freak what happen if all video games and television was gone what would you do with yourself? Go out and become crazy having mental problem, go out and do crime to relive your game or go on with your life. For example my sister dropped her phone and it broke she was said crying like a child but she 22 she thought her whole world end. I looked at her in disbelief thinking to myself is she really doing this over a phone but people today grown attracts to their technology they would freak out if it wasn’t around and that’s a bad thing to see. Generally speaking being too dependent on technology has it negative effects dealing with our education, behavior, and economy. It keeps you from focusing, makes you lazy, and putting people out of jobs. So, remember when depending on technology it will give you ne gative effects toward your writing and grammar, your physical and mental body, and small businesses. Everyone is depending on Google for everything and they are not referring to books.

Promotional mix used by two established organizations

Promotional mix used by two established organizations Select two organisations of your choice and create a booklet that describes the promotional mix used by these two organisations for a selected product/service. 1A. Mc DONALDS: COMPANY OVERVIEW Dick and Mac McDonald founded the very first drive-in and self service restaurant in California, US in 1940. Today McDonalds is one of the leading fast-food retailer having more than 32,000 local restaurants [1] across the globe. With a mass penetration and exhilarating brand image, McDonalds is serving more than  60 million people in approximately 117 countries of the world [1]. To establish its market presence and differentiate from its competitors, McDonalds has created a number of logos and road signs depending upon its operations as for example dine-in facility drive-through etc. Following are few examples illustrating different logos: [2] Different Logos of McDonalds 1.1 THE PROMOTIONAL MIX STRATEGY McDonalds has employed an effective promotional mix strategy for the marketing of its products and services. For the organisation to penetrate within a specific market, it is essential to gain maximum knowledge about the culture, taste, climate, consumer needs etc. to design a correct set of promotional mix for marketing its marketing campaign. The right choice of the promotional mix helps the organisation to communicate the benefits of its products and services to the consumers (OShaughnessy 2003, p. 110). McDonalds core consumer base is built upon children, business personnel and fast-food lovers. Followed by which the promotional mix strategy used by McDonalds is advertising and sales promotion. [1] http://www.aboutmcdonalds.com/mcd/our_company/mcd_history.html [2] http://www.aboutmcdonalds.com/mcd/media_center/image_gallery/logos.html OShaughnessy, J., 2003. The marketing power of emotions, Oxford: Oxford University Press, 2003. 1.2 ADVERTISING The promotional mix strategy followed by media advertising is always favourable as it reinforces the existence of the organization and also helps in persuading the consumers to buy. The advertising tools include print media, electronic media, billboards etc. for promotion. McDonalds too employs certain effective promotional techniques with the help of advertising tools. Print Media, TV Commercials McDonalds utilises aggressive media advertising as a tool to promote its products. With the help of television commercials, newspapers and magazines, the organisation has successfully managed to create a positive image of its brand. The scrumptious representation of its food products on the hoardings not only attracts its consumers but also helps to keep them well informed about the new arrivals. [3] Images of Burger and Fries Social Networking Today social networking websites have become extremely popular and since most of the traffic on these websites is followed by the younger generation therefore, it becomes essential for the organisations like Mc Donalds to demonstrate their market presence. To keep itself connected with its core consumer base, McDonalds has created pages [4] on the most popular social networking websites that includes: Facebook http://www.facebook.com/aboutmcdonalds Flickr http://www.flickr.com/photos/aboutmcdonalds Twitter http://twitter.com/mcdonaldscorp These pages confer all the related information about the latest news and upcoming events about McDonalds and also updates about new deals and offers. [3] http://www.aboutmcdonalds.com/mcd/media_center/image_gallery/products.html [4] http://www.aboutmcdonalds.com/mcd/media_center PUBLIC RELATIONS Public relations play an integral role in todays marketing world. The multinational organisations having vast operational framework take part in certain international affairs like exhibitions, charitable work, rallies and sports events. McDonalds has also been involved in such large scale events which not only execute a positive message but also facilitate in the advertising of its brand image. The 2010 Olympic Winter Games The 2010 Olympic Winter Games were held in the beautiful city of Vancouver located in the host country of Canada. Since the brand image of McDonalds represents youth and therefore, it continues to participate in sports events. McDonalds has formally announced its involvement as the Official Restaurant for the eighth consecutive games [5]. The company is all set to feed more than 10,000 of the worlds best athletes, coaches and the Olympic officials. It is yet another component of McDonalds smart promotional strategy as millions of people across the globe will acknowledge the presence of McDonalds as a worldwide partner of this Olympic movement. 2010 FIFA World Cup South Africa FIFA World Cup is an event that is anxiously awaited by diverse range of age groups everywhere across the world. Mc Donalds always seek for such events that create an extravaganza to target a mass audience. The organisation is an official sponsor and the official restaurant of the 2010 FIFA World Cup South Africa. With more than 32,000 restaurants in more than 100 countries, McDonalds will bring the FIFA World Cup to life for millions of customers and employees around the world. [5] Logo for the 2010 FIFA World Cup [5] http://www.aboutmcdonalds.com/mcd/media_center/press_kits.html SALES PROMOTION The sales promotions are usually short-termed or time specific strategies that are designed to attract the new customers or to replenish the relationships with the existing ones. The sales promotional campaigns offer attractive deals, work on pricing and put forward new products. The buy-one-get-one deals, gifts and prize schemes are few examples of such sales promotions. Toys, Scratch Cards Lucky Draws Children are the target consumer base of McDonalds and hence it becomes inevitable for the organisation to develop such promotional strategies that may create enthusiasm in children. Happy Meals are offered with small toys which excites children. McDonalds also introduces lucky draws, numerous schemes for winning prices and child competitions from time to time as for example, Happy Meal toys, Big Mac Hockey Contest, card games etc. The promotional tactic of scratch cards is also utilised for marketing which comes with combo meals. Adding to this, Mc Donalds also offers econo-meals and value meals. [6] Toys offered by McDonalds Meals Designed for Healthy Eating The consumer world of today is getting more cautious about organic food and healthy eating and realising this McDonalds has come up with a plan of preserving its existing clientele along with attracting new customers. The company has designed Happy Meals with intent to promote healthy eating in children. The organisation has teamed up with DreamWorks Animation to put forward a series of toys including Shrek, Donkey and Puss in Boots to endorse fruit, vegetables, and low-fat dairy and fruit juices.  By promoting the healthy eating McDonalds has tried to penetrate within the consumer base that intentionally avoid the fast food products as they consider it to be fattening and un-healthy. This is a smart promotional campaign that will benefit the organisation by pulling in the new segment of consumer base to the existing database of the company. [7] Shrek Themed Happy Meal [6] http://www.kathysfastfoodtoys.com/McDonalds2.html [7]http://www.aboutmcdonalds.com/mcd/media_center/press_kits/McDonald_s_Shrek_Forever_After_Global_Happy_Meal.html 1B: TESCO: COMPANY OVERVIEW Tesco is the leading retail super market in UK having a mass penetration of approximately 90% with an annual turnover of more than 1 billion. Tesco is an internationally recognised brand name which is not only restricted to food and grocery items but is also extended its operation to the non-food products. [8] Official Logo of Tesco 1.1 PRODUCT RANGE Food Ranges: Milk, eggs, butter and all grocery items Non-food Ranges: Books, DVDs and Electronic products Others: Dieting clubs, flights and holidays, music downloads electricity etc. 1.2 CORE COMPETITORS The list below indicates the core competitors of Tesco in UK. All of the listed below companies are the leading supermarkets in UK and operates almost in same range of products and categories. The competition for Tesco is extremely fierce in UK as the quality of products and services offered by these supermarkets are relatively same hence it becomes difficult for anyone to send out. However, Tesco with its comparatively huge operational network has got a leading position since it has got smaller or bigger outlets in almost every other corner. The promotional techniques offered by these supermarkets is more or less the same but Tesco ensures its distinct identity by introducing smart marketing mix followed by carefully designed promotional mix. Tesco Asda Sainsbury Waitrose Morrisons 1.3 THE PROMOTIONAL MIX STRATEGY Tesco has designed an intelligent promotional mix strategy that reflects a prudent thought process behind its campaigning. Tesco has successfully managed to achieve a vital role in the routine life of every household and its progress lies in the success of its creatively devised promotional strategy. The core constituents of Tescos promotional mix are as follows: 1.3.1 DIRECT MARKETING In combination with a number of meaningful promotional tactics, Tesco is successfully following a direct marketing strategy. Once a customer is registered on their main website -and starts shopping, the company keeps on interacting with that customer via phone, emails and text messages from time to time. Emails Messages The comprehensively designed website stores the contact information of the customer and the efficient direct marketing team of the organisation keeps a track record of customers buying behaviours. Tesco sends promotional offers, necessary information, new products and special deals via personalised email addresses to the customers. Moreover, Tesco also sends out feedback forms and surveys via emails to keep updated with the continuously evolving customers needs and choices. Text Messaging This is yet another way of close interaction with the customers. Tesco keeps on sending useful information about the new offers and products via text messaging. The company ensures that the customer never misses out anything offered by them and by doing so the company also develops a certain place in the customers everyday life. 1.3.2 MEDIA CAMPAIGNING Like its core competitors, Tesco too needs to make heavy investments on media campaigning even though its market presence is humungous. The competitive environment of today doesnt allow anyone to fall short when it comes to media campaigning. Media is one of the most powerful and decisive element of the overall promotional strategy. TV Commercials To differentiate from others it is essential to highlight the key features of the organisation in the TV commercials. Tesco primarily focuses on its accessibility as its network is comparatively broader. The commercials also highlight its healthy eating and organic products. Moreover, the TV commercials are designed to offer a little extra eye-catching moments to ensure that the commercials stay in the customers minds for a longer period of time. Interactive Websites In addition to its main comprehensive website, Tesco has launched a number of other web pages including Tesco Apps, Tesco Diet, and Talking Tesco etc. The links to these web pages are also made available on the main website and the link to the main website has been kept prominent on all other web pages. 1.3.3 SALES PROMOTION Tesco is facing a cut throat market competition and therefore, it has to keep on designing innovative promotional strategies to address the consumer needs and offer them a pleasurable shopping experience at the same time. Keeping in view of the rising level of inflation and recession period, Tesco has come up with ground-breaking promotional tactics as rewarding their customers. Club Card Points By introducing the Club Card rewards point, Tesco has made shopping a lot more fun and exhilarating experience for the consumers. The reward points can be collected by shopping via the online website which can be accessed by going to its website [8]. This promotional technique attracts the customers looking for discounts and saving options. [8] Image of Tesco Club card [8] http://www.tesco.com/ Tesco Apps Tesco has launched a direct mobile website which enables its consumers to shop for groceries from absolutely anywhere on their mobile by downloading the Tesco application from the website [9]. The online shop also allows the customer to add or delete an item from the online shop accessed via the mobile. The mobile application also enables the customer to access the favourite list which makes the process much easier. This application is an innovative promotional technique which attracts the consumer base that has an extremely busy life. [9] Image of Tesco Apps 1.3.4 PUBLIC RELATIONS With its mass penetration in the consumer market, Tesco completely comprehends with the idea of consumer satisfaction which can be achieved by listening to them. It has been established that the customer sentiments drastically changes about a certain product depending upon the positive or negative image they build by experiencing the offered level of services. Believing the same, Tesco maintains close connections with its customers with the help of numerous methods. Talking Tesco The company has introduced a distinctive website named as Talking Tesco so that its customers know that their say matters and is always encouraged. The web page [10] is designed to collect the feedback from its customers along with any issues or grievances and it has been ensured that the relevant team members respond to the complaint or enquiry as soon as possible. The web page also displays a personalised email address i.e. [emailprotected] to directly contact the team and get a quick response. [9] http://www.tesco.com/apps/ [10] http://www.tesco.com/talkingtesco/ Tesco Diets Tesco believes in maintaining strong bond with its customers so that their loyalty can also be preserved. Tesco has introduced an interactive website which offers a personalised fitness programme that is designed to encourage people for healthy eating, maintaining a balanced diet and follow an exercise regime that may help in reducing weight. By registering on the website an individual can receive personalised daily workout programme and log the progress. Moreover, scrumptious recipes, tips, diet plans and interactive tools are also available on the website for free. These kinds of interactive and informative websites help the consumers to develop a positive image about the brand and thereby, develop a relationship of trust between the retailer and the consumer which eventually benefits the organisation. [11] Image of Tesco Diets [11] http://www.tescodiets.com/why-join/90078 2. Explain the role of promotion within the marketing mix for a successful promotional campaign. PROMOTION Promotion is the fourth marketing-mix element which is crucially important for a successful marketing campaign. There are a number of tactics involved in the promotional activities in order to communicate the message to the consumer base. Depending upon the nature and size of the campaign the target market is selected which could be a focus group; a particular market segment based on culture, tastes, and religious believes etc. and promotional materials are designed to influence these customers. 2.1 PROMOTIONAL TOOLS THEIR ROLES There are a number of tools which are helpful in the promotion of the products. These tools include: Advertising Advertising is a method of communicating with the end-customers and passing on a message about a particular products or services. There are several ways of advertising including print media such as press releases, newspapers, magazines, broacher, hoardings and leaflets or it could be electronic media such as radio, television or internet. The advertisements are external mass-mediated messages which do not necessarily influence the individual consumers as desired because these messages are filtered through interpersonal communication channels and the perceptual systems of the consumer before acquiring any implications however, they do influence the consumers buying behaviour (Schiffman and Kanuk 2000, pp. 129-35). The advertisements are typically designed to penetrate a larger segment of the consumers. Since the advertisements represent pictures and the information about the product therefore, it is expected to develop a certain image in the consumers minds. The TV commercials or radi o advertisements are also meant to connect with the target market. The repeated telecast of commercials and the entrance of print media in the sitting areas of every household have developed a different paradigm of marketing. With the help of advertisements the manufacturer attempts to send a clear message to its consumer. OGuinn, Allen, and Semenik define that the meaning of the advertisement is determined through a Schiffman, L. G., and Leslie L. K., 2000. Consumer Behaviour (VII ed.), Upper Saddle River, New Jersey: Prentice-Hall, Inc. subtle but powerful process of meaning construction by consumers (OGuinn, Allen, and Semenik 2003, p. 202). Sales Promotion The advertisements are intended to instigate a desire amongst the target market about a particular product as a result of which the consumer develops a need to purchase it. However, the competition is fierce today and almost every other competitor more or less uses the same tactics to attract the customers. Here comes the need for exploiting different promotional tools. The sales promotion is an effective way to manipulate the pricing strategy and gain advantage over the competitors. The cost of a product plays a vital role when it comes to the consumers decision making process. There is segment of consumers which do not necessarily look for designs, colours and quality instead they always look for discount deals. Depending upon the market density the sales promotion strategy may do wonders with a product. The markets that are rich in similar brands may not get competitive advantage but may boost sales for a limited period and on the other hands, where the markets where the positioning of brands are dissimilar, the sales promotion may aid in establishing the roots of a new brand or may even help in penetrating deep in the market. The main objective is to utilise this tool in an effective manner. The smartly designed sales promotion campaigns can help the retailers to get rid of the old or unsold stocks and make ways for new arrivals. It is important to note that the sales promotion technique might give quick results or might take a little longer to benefit however, the overall performance of the sales promotion strategy can be monitored and measured over the time. The main role of the sales promotion campaign is to attract new customers because the benefits associated with this technique are short termed and hence it is difficult to break the loyal customers. It has been estimated that the tremendous rise in the number of brands and a decrease in the efficiency of traditional advertising due to increasingly fractionated consumer markets has lead to augment the need for developing sales promotion strategies (Brierley 2002, p. 132). Public Relations The main objective of the public relations technique is to exploit the consumers sentiments in the benefit of the organization. The public relations tactics primarily involves the people OGuinn, T., Chris A. and Richard S., 2000. Advertising (II ed.), USA: Southwestern Publishing. Brierley, S., 2002. The advertising handbook, Abingdon, Oxon: Routledge. having potential impact on a companys operations to achieve its goals and objectives, which include both retailers and the customers. The idea is to maintain healthy and positive relationships with the individuals and groups of mutual interests working together for the benefit of the organization. This could be charitable event, a cultural show which is not directly related to the interests of the company but definitely portrays the social responsibilities of the organization towards the society in general. This may in return have a great impact on public sentiments which will lead to maximise sales. The organizations sponsoring the shows ensure that appropriate coverage has been given to such public events and activities thereby, highlighting the positive image of the organization through news and information media. The press conferences, contests, meetings, and other social events are all part of public relations which is intended to draw the attention of general consumers towards their products and services. It is the responsibility of the advertising agencies and the public relation specialists to foresee the possibilities of evolving goodness out of the brand image (Arvidsson 2006, p. 88). On the other hand, several irrelevant issues are also touched by the multinational organizations by supporting certain causes which eventually impacts the organizational objectives in achieving its goals. It has been observed that many corporate companies do not necessarily seek profitability out of public relations tactics however; the brand imaging culture of today evidences that public sentiments plays a vital role in the success and failure of products and services. The multinational organizations and corporate companies acknowledge the importance of public sentiments and therefore, it has been established that marketing public relations departments are essential to directly support corporate and product promotion and image management (Arvidsson 2006, p. 96). Direct Marketing It is a time consuming process which requires the collection of data about the target consumer market. The direct marketing technique is based on an in-house data base which provides sufficient information about the targeted consumers to facilitate the direct marketing teams to offer the best services possible which may suit the clients needs. A number of multinational organisations and corporate companies conduct extensive researches, polls and public surveys to collect the consumers views about certain products. The responses obtained are thus incorporated into the database and are updated from time to time. The process could be very time consuming and therefore, a number of organisations buy the mailing lists and Arvidsson, A. (2006) Brands: meaning and value in media culture, Abingdon, Oxon: Routledge. contact information of potential customers that is tailored to a precise specification. It is an effective promotional tactics which involves a number of different techniques to execute a well-designed marketing plan. Direct marketing may involve the use of emails, letters, phone calls etc to reach the targeted consumers. This method is useful in targeting a specific group of customers and sends them personalised messages which may have a distinct impact as compared to the TV commercials or regular promotional tactics. It has been observed that a segment of consumers prefers to be personally addressed as it gives them some extra importance (Levy 2003, p. 108). This technique is welcomed by a consumer base that is psychologically inclined towards introvert lifestyle. The main role of direct marketing technique is to get realistic results as the promotions are designed to target the listed customers and therefore, the response level obtained from them can give an idea of how well the c ampaign is working. Today, the competition is getting tough and the organisations seek for improved results therefore, direct marketing techniques are adopted to measure the effectiveness of the promotional campaigns and make necessary alterations where required. Personal Selling Personal selling is another tool used to devise an effective promotional campaign. It involves the employment of sales representatives in order to carry out the day to day sales activities. The personal selling technique is not very well complimented by the fast paced environment of today as the consumers are much more inclined towards the electronic sales option i.e. via internet. The personal selling option can be termed as the most expensive means of promotion, as human involvement requires certain expenses, and supplementary benefits however, a number of companies still maintain their sales force and encourage door to door selling. Personal selling is effective with the consumer base that is not very fond of following the commercials and is not capable of using internet. These customers have got the psyche of believing what they see in real. They may prefer trying a product before their final decision making process. The sales personnel are highly trained to deal with such custom ers and also taught to utilise personalised elements and techniques to convince the customers. The door-to-door selling techniques are quiet time consuming and might not get instant results for the organisations however, they seem to be effective in unapproachable client base to get the competitive advantage. Salespeople are trained to make presentations, answer objections, Levy, S., 2003. Roots of marketing and consumer research at the University of Chicago, Consumption, Markets and Culture, 6(2): 99-110. gain commitments to purchase, and manage account growth (McFall 2004, p. 63). The main goal of a sales person is to convince the customer on the spot and achieve the companys target by maximising sales activities which can also be achieved by the word of mouth if the customer is happy with the way the sales person has presented the product. The technique is all about maintaining a good reputation with the end customer where the sales person serves as a face of the company. Therefore, the sales force must be well acquainted with the product knowledge in order to satisfy the consumers enquiries related to the product. The personal selling strategy is considered to be out of fashion due to growing e-technology and web based marketing strategies however, the effect of personal interaction with the consumer can never be ignored. Combined with a correct set of promotional mix a successful marketing campaign can be designed. McFall, L., 2004. Advertising: a cultural economy, London: Sage. Explain the role of advertising agencies in the development of a successful promotional campaign the evidence that you have to produce is a fact sheet. 3. ROLE OF ADVERTISING AGENCIES IN PROMOTIONAL CAMPAIGNS The ever-increasing range and diversity of market products has given rise to plethora of brand consciousness as a result of which the significance of information, persuasion and convincing the customer has become a key feature within the consumer market. Advertising is a vital tool that provides an opportunity for the companies to connect with their target market and to escalate the marketing process, advertising agencies has been pioneered that serves as a bridge between the company and its consumer base. FACT SHEET The advertising agencies facilitates in the development of positive consumer culture. They serve as an effective mediator in between the market products and their consumers. For a successful promotional campaign, an advertising agency aims to benefit its client by maximising sales opportunities. The advertising agencies externalise marketing as a management function and create a body of specialised knowledge about markets and consumers (Wilson and Thomson (2006, p. 112). They comprehend with the clients objectives, product knowledge and the target consumer base. The advertising agencies conceptualise the overall promotional activities. The products are well understood and the process begins by constructing the image and identity of the brand. A team of professionals are involved in the process of brainstorming innovative ideas to achieve the set targets. Extensive research is conducted to study the market trends and consumer needs are identified. Depending upon the size of the budget, an advertising agency creates effective Wilson, J. and A. Thomson (2006) The making of modern management: British management in historical perspective, Oxford: Oxford University Press. promotional campaigns. Advertising agencies makes a strong effort to create and maintain the goodwill of the brands. The agencies are involved in the process of managing a trade marks augmentation to a key symbolic element of marketing strategy (Brierley 2002, p. 97). The agencies devise a marketing communication strategy for mass promotion with the aim of selling The aim is to create a direct link in between the manufacturer and end-consumer by reducing the efforts of sales activities of wholesaler and retailers (Levy 2003, p. 103). Developing a brand image that creates desire for the advertised products. Follow competitor-based approaches to market segmentation and product positioning (Cano 2003). Study the behavioural and psychic dispositions of the consumers which are heavily influenced by the brand imaging. Strategically manipulate the socially-shared symbols in order to facilitate the market penetration. They offer meaning and symbolic connotations to the marketed product which helps the consumers in decision-making process. The advertising agencies plan and design the promotional campaign in such a way that the desired information about a product shall be presented to consumers in a presentable manner (Arvidsson 2006, p. 56) Review the progress of promotional campaigning and improvise necessary alterations where required. Maintain and replenish the bond between manufacturer and the consumers. Brierley, S., 2002. The advertising handbook, Abingdon, Oxon: Routledge. Levy, S., 2003. Roots of marketing and consumer research at the University of Chicago, Consumption, Markets and Culture, 6(2): 99-110. Cano, C., 2003. The recent evolution of market segmentation concepts and thoughts primarily by marketing academics, in E. Shaw (ed.) The romance of marketing history: proceedings of the 11th Conference on Historical Analysis and Research in Marketing (CHARM). Boca Ranton, FL: AHRIM, 2003. Arvidsson, A., 2006. Brands: meaning and value in media culture, Abingdon, Oxon: Routledge. In a report explain the reasons behind the choice of media in a successful promotional campaign. 4. INTRODUCTION With the passage of time the competition in the corporate world has become increasingly fierce that has enabled the marketing sector to grow. Marketing can be done by a number of ways depending upon several associated factors however; the role of media in every form is an essential element of the marketing world. The rising trend of e-connectivity and social networking practices has made it obligatory for the organisations to incorporate

Cosmetology Essay -- essays research papers

Cosmetology Cosmetology is working with skin, hair and nails. Which includes things like hair styling, cutting, coloring, shampooing, manicures, waxing, facials, etc. "More than a half a million people work as cosmetologists." (Careers For Woman Without College Degrees 254) It is a great profession for people who would like to have a career in the beauty industry. It's a great career for a mother in a two income family or if you're just living on your own. This career is not only for woman, it is also great for men. The pay is not that bad, but usually wouldn't workout for a single mother with more than one kid, unless she owned her own business. A beginner will make between $12,000 and $13,000 a year. After you are more experienced you could make between $18,000 to $24,000 a year. There are not any benefits that are definate. When you find a salon to work at, you discuss benefits with the person who hires you, but if you own your own salon, you have no benifits, but you can decide your own vacations. As a cosmetologist you usually would work a full work day. Most people work 44 hours a week, but some work 48 hours or more. There are many ways to get schooling to be a cosmetologist. You could go to either a public or private vocational school, which some high schools offer. You could also go to a beauty school. You ...

The Politics of Highly Radioactive Waste Disposal Essay -- Radioactive

The Politics of Highly Radioactive Waste Disposal Nuclear waste disposal is a political problem, not a technical problem.1 — Dr. Edward Teller Highly radioactive waste disposal has become one of the most controversial aspects of nuclear technology. As the amount of spent nuclear fuel from commercial nuclear reactors and high-level radioactive waste from defense-related processing plants has continued to mount, the issue has become increasingly contentious and politicized.2 The politicization of this issue is especially evident in the site selection process of a permanent national repository for the disposal of highly radioactive waste. Paradoxically, as the need for action has become more acute, the conflict generated by the politicization of the site selection process has delayed progress on the establishment of a permanent nuclear waste storage facility. As early as 1957, the National Academy of Sciences recommended the disposal of radioactive waste in deep underground rock as the best means of protecting public health and safety.3 However, it was not until 25 years later that the federal Nuclear Waste Policy Act of 1982 began the process of establishing a deep, underground permanent national storage repository for highly radioactive waste. The 1982 Act mandated that the Department of Energy (DOE) would study multiple sites in the West and select one to be ready to serve as the first national repository for highly radioactive waste by January 31, 1998.4 A second site in the East, where the majority of highly radioactive material is generated, would be designated later. The site selection process was slow and arduous due to opposition generated by states identified as potential hosts for a national radioactive... ...S Issue Brief, Congressional Research Service, December 3, 1996, [http://www.cnie.org/nle/eng-18.html], 5. 29 Mark Holt and Zachary Davis, "Nuclear Energy Policy," CRS Issue Brief, Congressional Research Service, updated December 5, 1996, [http://www.cnie.org/nle/eng-5.html], 7. 30 Will Nixon, "High Energy," E/The Environmental Magazine, [http://www.adams.ind.net/Environment.html], May/June 1995, 4. 31 Associated Press, "Court: U.S. must take nuclear waste by 1998," The Courier, July 24, 1996, A1. 32 See U.S. Congress (S. 1271), "Nuclear Waste Policy Act of 1996," Congressional Record,104th Congress, 2d Session. Also see U.S. Congress (S. 1936), "Nuclear Waste Policy Act of 1996," Congressional Record, 104th Congress, 2d Session. 33 See U.S. Congress (S. 104), â€Å"Nuclear Waste Policy Act of 1997,† Congressional Record, 105th Congress, 1st Session.

The History of Computing :: Essays Papers

The History of Computing In 1842 Babbage’s Difference Engine and the Analytical Engine Convinced his machine would benefit England, Babbage applied for and received one of the first government grants to build the difference engine. Hampered by nineteenth century machine technology, cost over runs, and the possibility his chief engineer was padding the bills, Babbage completed only a portion of the difference Engine before the government with drew its support in 1842, deeming the project â€Å"worthless to science†. Meanwhile Babbage had conceived of the idea of a more advanced â€Å"analytical engine†. In essence, this was a general-purpose computer that could add, subtract, multiply, and divide in automatic sequence at a rate of 60 additions per second. His 1833 design, which called for thousands of gears and drives, would cover the area of a football field and be powered by a locomotive engine. Babbage worked on this project until his death. In 1991 London’s Science Museum spen t $600,000 to build a working model of the difference engine, using Babbage’s original plans. The result stands 6 feet high, 10 feet long, contains 4000 parts, and weighs 3 tons. The Honeywell 400 and the second Generation of Computers. The invention of the transistor signaled the start of the second generation of computers (1959-1964). Transistorized computers were more powerful, more reliable, less expensive, and cooler to operate that their vacuum-tubed predecessors. Honeywell established itself as a major player in the second generation of computers. Burroughs, Univac, NCR, CDC, and Honeywell IBM’s biggest competitors during the 1960s and early 1970s became as the BUNCH. The IBM system 360 and the third generation of computers. The third generation was characterized by computers built around integrated circuits. Of these, some historians consider IBM’s system 30 line of computers, introduced in 1963, the single most important innovation in the history of computers. System 360 was conceived as a family of computers with upwards compatibility; when a company outgrew one model it could move up to the next model without worrying about converting its data. System 360 and the other lines built around intergraded circuits made all previous computers obsolete, but the advantages were so grate that most users wrote the costs of conversion off as the price of progress. In the early 1960’s, Dr thoms Kurtz and Dr. John Kemeny of Darmouth College began develoing a programming language that a beginner could learn and use quickly. Their work culminated in 1964 with BASIC.

Impact of Micro Enterprise Loan of Developments of Micro Enterprises in Bangladesh

Table of Contents 1Introduction:6 1. 1Objectives:6 1. 2Scope of the Study:7 1. 3Methodology and Data Collection:8 1. 4Limitations:11 2Institute of Microfinance (InM)13 2. 1Vision:13 2. 2Mission:13 2. 3Governance:14 2. 4Governing Body14 2. 5Current Governing Body of InM14 2. 6General Body15 2. 7Activities of the Institution:16 2. 8Research:16 2. 9Trainings:17 3Evaluation and Development of Microfinance Sector:20 4The Microfinance Sector In Bangladesh:25 4. 1The Microfinance Regulation:26 4. 2The Microfinance Institutions:28 4. 3Microfinance Delivery Mechanism:29 4. 4Microfinance Products:30 Trends and Growth of Microfinance Program of MFIs:35 5. 1Employment and Gender35 5. 2Membership in MFI-NGOs37 5. 3Trends in Lending Behavior39 5. 4Intensity in Number of Loans:41 5. 5Loans Disbursement:41 5. 6Average Size of Loans Disbursed:41 5. 7Recovery Rate:42 5. 8Loans Outstanding:44 5. 9Trends in Savings Mobilization46 5. 10Net Savings per Member:46 5. 11Savings withdrawal Rate:49 5. 12Financ ing of Loans: Loan Revolving Fund50 6Microenterprise in Bangladesh54 6. 1Definition of Microenterprise:54 6. 2Role of Microenterprise in the Present Context of Economy:55 Microenterprise Loan Demand Side Analysis59 7. 1Education:59 7. 2Sources of Finances:59 7. 3Number of Employees or Labor:60 7. 4Business Plan:61 7. 5Governmental Aids and Regulations:61 7. 6Financial Institutions:61 8Microenterprise Loan Supply Side Analysis64 8. 1Major Providers of Microenterprise Loan:69 8. 1. 1Bangladesh Extensions Education Services:69 8. 1. 2Objectives69 8. 1. 3Achievement70 8. 2BURO Bangladesh72 8. 3Grameen Bank:73 8. 3. 1Eligibility:74 8. 3. 2Terms and conditions:74 8. 3. 3Sectors covered:74 8. 3. 4Overview of microenterprise loan of Grameen Bank74 8. ASA Bangladesh:76 8. 4. 1Small Business Loan Program:76 8. 4. 2Small Entreprenuer Lending:76 9Impact of Microenterprise loan on Income generation78 9. 1Impact of Microcredit lending on the revenue of the microenterprises:78 9. 1. 1Hypothesis:78 9. 1. 2Model:78 9. 1. 3Analysis:78 9. 1. 4Findings:79 9. 2Impact of Loan Amount on the Microenterprise Revenue:80 9. 2. 1Hypothesis:80 9. 2. 2Model:80 9. 2. 3Analysis:80 9. 2. 4Findings:81 9. 3Impact of Training on the revenue of the microenterprises:82 9. 3. 1Hypothesis:82 9. 3. 2Model:82 9. 3. 3Analysis:82 9. 3. 4Findings:84 10Case Study:86 0. 1Success Story86 10. 2Failure Story91 11Conclusion and Recommendations:97 List of Tables and Figures: Table 1: Staff Strength and Growth of MFI-NGOs35 Table 2: Growth of Membership38 Table 3: Borrower and Member Ratio (%)39 Table 4: Average Loan Size (Tk)41 Table 5: Loan Portfolio Quality through recovery Rate41 Table 6: Loan Portfolio Quality – Overdue in Loans Outstanding42 Table 7: Loan Performance through Outstanding Loan Size (Tk. )43 Table 8: Net Savings Performance46 Table 9: Savings Withdrawal Rate (%)48 Table 10: Distribution of Cumulative Loan Fund by Sources50 Table 11: Sources of Finance of Microenterprises58 Table 12: Distribution of Loan by Stated Purpose:63 Table 13: Change in the Distribution of Loan by Stated Purpose:64 Table 14: Micro Enterprise Loan in Various Sectors (July 2008-June 2009) by BEES71 Table 15: Loan Disbursements by BURO72 Table 16: Microenterprise Loan by GB73 Table 17: Loan Disbursed to Male Borrower by GB74 Table 18: Loan Disbursed to Female Borrower by GB74 Figure 1: Percent distribution of Staff of MFI-NGOs by gender 200935 Figure 2: Percent distribution of Staff of MFI-NGOs by gender 200835 Figure 3: Trend in Credit Staff of MFI-NGOs36 Figure 4: Percent Distribution of Membership in MFI-NGOs by Rural and Urban Areas in 200936 Figure 5: Percent Distribution of Membership in MFI-NGOs by Rural and Urban Areas in 200836 Figure 6: Trend in Membership by Location of MFI-NGOs37 Figure 7: Distribution of Growth of Membership37 Figure 8: Loan Outstanding43 Figure 9: Loans Outstanding Per Borrower by Gender44 Figure 10: Loans Outstanding Per Borrower by Location45 Figure 11: Trends in Net Savings per Member by Gender46 Figure 12: Trends in Net Savings per Member by Location47 Figure 13: Percent Distribution of Loans by Stated Purposes in 200965 Figure 14: Percent Distribution of Loans by Stated Purposes in 200865 Figure 15: Percent Distribution of Loans by Stated Purposes in 200766 Figure 16: Percent Distribution of Loans by Stated Purposes in 200666 Figure 17: Trend of Microenterprise Loan Along with Total Loan:67 Figure 18: Microenterprise Loan as Percentage of Total Loan:68 Introduction: The magnitude of micro-entrepreneurial activities plays a decisive role in the economic development of the rural livelihoods, especially in third world countries. Micro-entrepreneurship has always been considered as a proven instrument to fight poverty in an effective manner. As a consequence, poverty alleviation through rural centric microentrepreneurship development has been focused for more than the last thirty five years in Bangladesh. This development of micro-credit programs and micro-enterprise in Bangladesh has emerged as a major strategy for the alleviation of poverty and unemployment that continue to pose problems to the economic and social development in the country. Government and non-governmental organizations (NGOs) have adopted several approaches and strategies to overcome these issues. Relying on peer pressure from borrower group members rather than on collateral for repayment, micro-credit operation in Bangladesh has been a sustained success story, efficiently recycling lending resources with increasing disbursements, high recovery and a low rate of late payment, making a significant contribution to micro-enterprises with income and employment generation, and private sector enterprise development. The objective of the study is to examine the impact of micro-credit on micro enterprises and provide an overall analysis of the micro credit program in Bangladesh and their role in developing microenterprises in Bangladesh. The micro-credit programs have been developed with the aims of the provision of credit to the poor and the development of micro-enterprises through rural women, with the ultimate goal of the alleviation of poverty in the country. Objectives: The main concern of the study is to develop a clear understanding about the role of microfinance institutions in developing microenterprises in Bangladesh. So, the study mainly focuses on the microenterprises & microfinance institutions of Bangladesh and how the MFIs are functioning to develop the microenterprise of Bangladesh. To find out this the paper will look into the various aspects of the microenterprise and microenterprise loans and the providers of such loan. This study will try to fulfill the following objectives. 1. To have an overview of the history of microfinance in Bangladesh: Under this objective I will try to gain understanding about different development phases through which the microfinance sector of Bangladesh has reached to current position. . To develop a clear insight about the microfinance sector of the Bangladesh: In this part I will focus on various institutional frameworks of microfinance sector, its rules and regulation, microfinance mechanism and various institutions working in this sector. 3. To analyze the recent development of the microfinance sector of Bangladesh: This part of the study will focus on the recent development of microfinance sector based on data from 2007-2009. The part will try to reveal recent status of microfinance sector by evaluating various aspects. 4. To study the market and reveal the actual demand scenario for microenterprise loan. An overview of the demand scenario of the microenterprise loan will be presented in this part, this will focus on the sources of microenterprise capital to have demand scenario of microenterprise loan. 5. To investigate the current supply scenario of the microenterprise loan: By analyzing previous and current data a brief scenario of the supply condition of microenterprise loan will be made in this part. A study on the major providers of microenterprise loan will also e done. 6. To exhibit the impact of microenterprise loan on the income of the borrower: A statistical analysis will be made to find out the impact of microenterprise loan on the borrowers income and consumption. Scope of the Study: As the title of the study suggests, the study will evolve around the microfinance sector of the Bangladesh as well as their role in providing finance to microenterprises. So, it can be said that it will cover the whole microfinance sector of Bangladesh with emphasis on microenterprise loan. A thorough analysis will basically cover * The emergence and development of microfinance sector in Bangladesh * Its various aspect, rules & regulation * Procedure and mechanism for providing microfinance * Recent development, present scenario and trend in microfinance * Sector wise comparisons on various aspects * Opportunities for development * Major providers of microfinance and their role in providing microenterprises loan, * Demand side and supply side analysis of microenterprise loan * Impact of microenterprise loan on the income and consumption of the microenterprise owners. * Case study Methodology and Data Collection: Both the qualitative and quantitative analysis will be done in the study. For selecting methodology I divided the whole report into six major parts. Each part will grow depending on different methodology. In the following part I will describe the methodology for each part independently. Part 1: Analysis of the Microfinance sector of Bangladesh This part will totally done by analyzing secondary data. In the first segment of the part the history of microfinance will be described and a brief overview of the development of microfinance sector from the beginning to the 21st century will be made. In this segment I will mainly focus on the four development phase of microfinance sector namely action research phase in the 1970s, micro credit development phase in the 1980s, consolidation phase in the 1990s and expansion phase from 2000 onwards. In the next segment I will describe the microfinance sector with an overall description about the microfinance regulation, the microfinance Institutions, microfinance delivery mechanism and microfinance products. In the last and final segment of this part I will show the trend analysis of the microfinance sector for the last three years. I will use extensive table, charts and graphs to explain the trends that were prevailing in the sector. I will cover the following areas in the trend analysis part; employment and gender, membership in MFI-NGOs, trends in lending behavior, trends in savings mobilization, financing of loans, loan revolving fund etc. Part 2: Microenterprises in Bangladesh This part is also depended totally on secondary sources of data. The central point of this part is microenterprises in Bangladesh. Here I will provide the definition of microenterprise in Bangladesh and the role of microenterprises in present economic context. Part 3: Demand Side Analysis This part will use primary data to collect information about the demand side of the microenterprise loan that is owner of microenterprises. For the analysis data are collected from the primary sources. For the study 120 owner of micro enterprises are selected from different areas of Bangladesh. Out of these 120 businessmen 30 are collected from Dhaka City, 30 from Chandpur and Comilla District, 30 from Chittagong City and 30 from Sylhet city. The businesses which have capital up to $10,000 are selected for this study. For better analysis of true picture of micro enterprises, businesses that are started within 5 years are selected. Most of the selected businesses are grosser shop (50), readymade garments shop (30), big poultry shops (10), libraries and educational shops (30). Data are collected by two ways – questionnaire and personal interview. Part 4: Supply Side Analysis Secondary information from various printed materials i. e. publications and websites are used to collect data for this part. In this part I will provide segment wise microfinance distribution by the MFIs of Bangladesh for the last three years. I will also provide the trend of microenterprise loan and changes in the amount of loan disbursed by the MFIs from year to year. In this part I will also provide information about the big four institute of microenterprise loan providers with a descriptive analysis of their microenterprise loan scheme. Part 5: Impact Analysis of Microenterprise Loan These parts will analysis the impact of microenterprise loan on the income and consumption of the borrower. For the analysis I will use Ordinary Leas Square Method for analyzing impact. The data will be collected from the survey data provided by Institute of Microfinance to me for this purpose. In the data set I have information about both the borrower and non borrower of microenterprise loan. So I have decided to define models for impact assessment. Effect of Borrowing: In the first model I want to use Income from the microenterprise as a dependent variable and starting assets of the microenterprise (i. e. land, building etc. & borrower or non-borrower as dependent variable to find out whether the borrower has more capacity to generate more income. Hypothesis: H1= Borrower of microenterprise loan are able to generate more income than non-borrower H0= Borrower of microenterprise loan are not able to generate more income than non-borrower Model: Ii =? + ? 1li + ? 2ei + ? 3bi + ? 4oi + ? 5bri Here, I= Income from the Microenterprise l = Land e = Equipment b = Buildings o = Others assets br = Borrower or Non-borrower (dummy variable) Effect of Loan Amount: On the other hand I also want to find out is the amount of microenterprise loan effect the income of the borrowers. For this I want to use income from microenterprise as dependent variable and starting assets and amount of loan s independent variable. Hypothesis: H1 = Loan amount has a positive effect on borrower’s income H0 = Loan amount has a negative effect on borrower’s income Model: Ii =? + ? 1li + ? 2ei + ? 3bi + ? 4oi + ? 5 lni Here, I= Income from the Microenterprise l = Land e = Equipment b = Buildings o = Other assets ln =Borrowed amount Effect of Training: To find ou t if training has any impact on the earnings of the microenterprise owners I here develop a model where I tried to figure out the relationship between training and income of the microenterprises. In this purpose I used the same model used for loan amount but I include one more independent variable that is training (dummy yes or no). Hypothesis: H1 = Training has positive effect on borrower’s income H0 = Training has negative effect on borrower’s income Model: Ii =? + ? 1li + ? 2ei + ? 3bi + ? 4oi + ? 5 lni + ? 6 ti Here, I= Income from the Microenterprise l = Land e = Equipment b = Buildings o = Other assets ln =Borrowed amount t = Training (dummy) Part 6: Case Study: In this part I will describe two successful and two unsuccessful case of microenterprise loan. I will provide will brief description of the project and reasons for success or failure will be provided. Limitations: Paucity of resources and lack of capacity were the main limitations for the study. However, restricted by these limitations I have tried to give my best effort to prepare the report. Overview of the Organization ————————————————- Institute of Microfinance (InM) Institute of Microfinance (InM) is a non-profit organization established primarily for meeting research and training needs of national as well as global microcredit programs. It endeavors to enhance and improve the microfinance-related research and training climate particularly in Bangladesh. The Institute is contemplating a transition to a much broader center of excellence in the area of microfinance, enterprise development, poverty reduction and allied areas at the national and international levels through collaborative approach to research, knowledge management, training and education, and participation of reputed institutions and scholars in its programs. The Institute’s main focus is on developing itself as a center of excellence with emphasis on research, training, academic and knowledge management. However, research is the most prominent among all the activities and its research activity centers around microfinance, poverty and development issues. InM was initiated and promoted by the Palli Karma-Sahayak Foundation (PKSF), and is now registered as an independent non-profit institution under the Societies Registration Act 1860. InM is currently funded mainly by UK’s Department for International Development (DFID) through its Promoting Financial Services for Poverty Reduction Program (PROSPER). InM is responsible for developing overall capacity in the microfinance sector and to achieve knowledge creation, management and dissemination in the area of microfinance and poverty. In addition to expanding the research, training and consultancy services for microfinance practitioners, PROSPER has been providing assistance to enable microfinance institutions to access demanded training and consultancy services from accredited providers. InM is also committed to support interested institutions to offer long-term microfinance courses. Vision: Towards establishing a poverty free world, InM sees itself as a frontline center of excellence in knowledge creation and management. Mission: Firstly, InM will contribute to the capacity building of the microfinance sector in Bangladesh through training and academic programs for human resource development, conducting research studies and dissemination of findings, regular dissemination of new knowledge and technology, for the benefits of the sector. Secondly, the institute should emerge as a center of excellence in microfinance, poverty, enterprise development, and other allied areas at the national and international levels through building network with microfinance institutions, sector stakeholders, reputed researchers, thinkers and professionals, and exchange of ideas and experiences. Governance: Institute is governed by a two-tier–Governing Body and General Body–governance system. The basic governance lies with the Governing Body. It comprises of seven members, including the Executive Director of the Institute as an ex-officio member. The General Body is the Institute’s highest authority. It is responsible for the overall policy guidance and direction for efficient functioning of the Institute. Total number of members of the General Body is 8, including 7 (seven) members of the Governing Body. Governing Body The Institute is governed by a two-tier–governance structure-Governing Body and General Body. The basic governance lies with the Governing Body. It comprises of seven (7) members, including the Executive Director of the Institute as an ex-officio member. Current Governing Body of InM Chairman Professor Wahiduddin Mahmud Former Advisor to the Caretaker Government of Bangladesh, and Member of the United Nations Committee for Development Policy (UN CDP) Members Dr. Iqbal Mahmud Professor Emeritus Chemical Engineering Department Bangladesh University of Engineering & Technology (BUET) Dr. Quazi Mesbahuddin Ahmed Managing Director Palli Karma-Sahayak Foundation (PKSF) Ms. Rasheda K. Choudhury Former Advisor to the Caretaker Government of Bangladesh, and Executive Director Campaign for Popular Education (CAMPE) Dr. Pratima Paul-Majumder Senior Research Fellow Bangladesh Institute of Development Studies (BIDS) Dr. Toufic Ahmad Choudhury Director General Bangladesh Institute of Bank Management (BIBM) Dr. Md. Mosleh Uddin Sadeque Executive Director (Interim) Institute of Microfinance (InM) General Body The General Body is the Institute’s highest authority. It is responsible for the overall policy guidance and direction for efficient functioning of the Institute. Total members of the General Body is thirteen (13) including seven (7) members of the Governing Body. Other members of the General Body are as follows: Mr. Khondkar Ibrahim Khaled Chairman Bangladesh Krishi Bank (BKB) Professor A. K. M. Nurun Nabi Department of Population Sciences University of Dhaka Dr. Jadab Chandra Saha Former Managing Director Bangladesh Krishi Bank Ms. Parveen Mahmud President Institute of Chartered Accountants of Bangladesh (ICAB) Dr. M. A. Hakim Professor & Chairman Department of Business Administration University of Development Alternative (UODA) Dr. Jashim Uddin General Manager (Administration) Palli Karma-Sahayak Foundation (PKSF) Activities of the Institution: The Institute has a plan to work with three divisions: Research and Knowledge Management * Education and Training * Administration and Accounts Research: Research is the most prominent among the InM activities. The major focus of its research is on microfinance, poverty, and development issues. InM conducts research studies independently and/or jointly with distinguished researchers and institutions from home and abroad. The underlying objective of the research agenda is to ge t insights into the problems of poverty and development and also to assess the impact of different interventions. On-going Research Projects Multiple Memberships (Overlapping) in Microcredit Program. * Strategic Behavior of NGOs/MFIs in Bangladesh * Health and Nutrition among the Beneficiaries of Microfinance Institutions (MFI) in Rural Bangladesh. * Microinsurance, Poverty and Vulnerability in Bangladesh (Phase-I) * Searching for an Explanation of Differences in Poverty Levels and Trends at Sub-National Levels. * Understanding the Poverty and Resource Dichotomy- An Inquiry into the Livelihood of any Backward Community in Resource-Rich Areas of Bangladesh. * Access to Financial Services (Phase -1) Poverty Alleviation through Enhanced Usage of Migrant Remittance * Assessment of the Impact of PKSF Interventions on Sustainability of Partner Organizations (POs) * Impact of Microcredit on agricultural Farm Performance and food security in Bangladesh. * Internal Female Migration in Rural Bangladesh: An Effective Household Coping Strategy. * Differentiated Corporate Governance and MFI Performance in Bangladesh. * Poverty Dynamics in Rural Areas of Bangladesh: Phase-I * Designing Appropriate Microinsurance Products for the Low Income Households Completed Research Projects Baseline Study of Food Security for Vulnerable Group Development and Ultra Poor Beneficiaries Project (Sponsored by PKSF) * Identification of Appropriate Micro Insurance Approach for Ultra Poor of Bangladesh. (Sponsored by UNDP) * Urban Microfinance in Bangladesh * Monga in Greater Rangpur: Intensity, Coping, Vulnerability, and the Impact of Mitigating Strategies. * Impact of Cash for Work Program under PRIME in Lalmonirhat Districtct. (PKSF & InM) * Overlapping in Microcredit Programs in Patrail Union, Tangail. PKSF & InM) * Impact of PRIME Interventions on Monga Mitigation in Greater Rangpur Region: PhaseI Trainings: There is a growing demand to expand the InM's activities to support training progr ams to build the capacity of the MFIs so that practitioners can make tangible efforts towards building a sustainable microfinance sector. The institute intends to embark upon providing training to the development practitioners, journalists, editors, senior executives of different MFIs, policymakers, regulators, government officials and international agencies. In addition, it will act as a facilitator in capacity building of the existing training institutions. InM has a future plan to organize training programs for the participants even from outside Bangladesh. InM wants to put special thrust on-need-based training that requires customized, standard and integrated training modules for the training programs. Furthermore, the institute is mandated to play active role to capacity building of the institutions in the microfinance sector in Bangladesh. Module Development: InM has taken initiative to prepare standardized training module for the MFIs as per suggestions of the training expert committee. InM wants to put special thrust on training rather than prototype training which needs customized, standard and integrated training module for the training courses. Initially the following modules are developed by InM. * Microfinance Operations and Management. * Basic Book Keeping and Accounting Management for MFIs. * Improving Participatory Managerial Skills and Management Style. * Monitoring and Evaluation of Microfinance Program. Legal Regulatory System and Governance. Training Conducted by InM * March 27-31, 2011: Pilot Training Program on Microfinance Operations and Management with PMUK * February 07-11, 2011: Participatory Monitoring and Evaluation training at ELD, Thailand * December 5-15, 2010: Training of Master Trainers’ with AIT, Thailand * July 25-29, 2010: Participatory Rural Appraisal (PRA) * May 9-20, 2010: Training program for offic ials of Microcredit Regulatory Authority (MRA) * March 8, 2010: Training on Effective Time Management March 7-11, 2010: Basic Book Keeping and Accounting Management at UDDIPAN, Dhaka * February 8, 2010: Pilot Training on Microfinance Operations and Management (MOM) at CDF * January 24-28, 2010: Pilot Training Program on Basic Book Keeping and Accounting Management for MFIs with BRAC * January 17-21, 2010: Pilot Training Program on Basic Book Keeping and Accounting Management for MFIs with YPSA * January 10-14, 2010: Pilot Training Program on Basic Book Keeping and Accounting Management for MFIs with CDF * October 25-29, 2009: TOT on Basic Book Keeping and Accounting Management for MFIs * October 11-15, 2009: PRA Training for Dhaka City Corporation (DCC) / JICA Participants: * August 16-20, 2009: TOT for Dhaka City Corporation (DCC) / JICA Participants * July 19 – 29, 2009: TOT on Microfinance Operation and Management for Service Providers * December 26-28, 2006: Training prog ram titled â€Å"Poverty, Microfinance and Development† for Journalists of both Newspapers and Electronic Media. Evaluation and Development of the Microfinance Sector in Bangladesh ————————————————- Evaluation and Development of Microfinance Sector: The development of MFIs took place in several distinct phases over the last four decades. Micro credit was developed in the 1970s as a response to the relief and rehabilitation needs of post- independent Bangladesh when the government and private initiatives were focused on restoring livelihoods through income generating activities. The development of the microfinance sector has undergone four distinct phases in the past four decades: I. Action research phase in the 1970s II. Micro credit development phase in the 1980s III. Consolidation phase in the 1990s IV. Expansion phase from 2000 onwards In the 1970s, development organizations including local and international NGOs were involved in relief and rehabilitation. In addition to community development, health, literacy, agricultural sector development programs and food relief programs, some initiated income generation activities to help the landless poor, particularly women earn supplemental income. A major constraint faced by the population was the lack of access to capital for investment in income generating activities, so few could actually start enterprises. In the mid 70s, Grameen Bank initiated its ‘Jobra' experiment using the solidarity group-based credit delivery system using peer pressure and group guarantee to ensure timely repayment. The project achieved a high rate of success and it was formalized as Grameen Bank, with a special license obtained from the Bangladesh Bank. Grameen Bank remains the only bank with a poverty alleviation bank license. The license is of particular note as it allows Grameen as a licensed and regulated bank to mobilize savings legally, from members and non-members. Also in the 1970's, the Bangladesh Bank initiated the Dheki Rin Prokolpa in collaboration iwth an NGO Swanirvar Bangladesh. Several other NGOs were also trying out various micro credit mechanisms and soon micro credit programs became a part of every social development NGO, even if it was not a major part of the program. The 1980s is known as the period of microfinance program development. The success of Grameen Bank began to motivate social development NGOs to expand their economic development programs, with a particular emphasis on microcredit. The availability of donor grants resulted in the creation of revolving loan funds to make loans to NGO members for various income generating activities. NGOs began to expand their micro credit programs and some like ASA took a decision to shift focus from social and community development work to minimalist micro credit intermediation. In the 1990's, the Palli Karma-Sahayak Foundation (PKSF) was established as the promoted apex wholesaler financed with government funds and the World Bank. As a result, NGOs providing financial services had the benefit of relatively low cost refinancing along with technical assistance to enhance their institutional infrastructure and management information systems to expand outreach, improve efficiency and increase self- sufficiency to reduce dependence on grant funds. The first NGO to achieve full operational self- sufficiency and financial self-sufficiency was ASA. In the late 1990s, ASA was able to move away from donor grants and operate its microcredit portfolio through earned income, savings, and equity converted from the grants received previously. ASA became the largest borrower of PKSF funds and was eligible for loans from commercial banks. Soon other NGOs like BRAC and Proshika began to scale up their micro credit programs, although their continued focus in their social and community development programs delayed their targets for financial self-sufficiency. Towards the end of 1990, the microfinance sector was well established with the â€Å"Big Four† namely, Grameen Bank, ASA, BRAC and Proshika who in turn promoted smaller NGOs providing refinancing as well as technical support in their respective development methodology and microfinance practices. Although the vast majority of NGOs adopted the Grameen style of group lending and focused on rural areas, there were some new initiatives. For instance, in the early 90s, an NGO named Shakti Foundation took on the challenge of providing microfinance services to urban women living in the Dhaka slums who had limited literacy and numeracy skills and no permanent address, as slum evictions were common. The NGO Asharai promoted a savings based self-help group model of microfinance combined with community development services for tribal communities in the northwest part of Bangladesh. RDRS, an integrated service provider focused on micro credit initiatives along with agricultural interventions to increase the food sustainability of the drought affected population in the northern villages of Rangpur and Dinajpur districts. BURO Tangail, with its centre in the highly productive town of Tangail, started with a modified Grameen type methodology, but used action research and piloting of products to develop a range of credit and savings products, including flexible savings and term deposits. TMSS based in Bogra started with an integrated community development approach, using micro credit as a means to ensure sustainable development of the rural economy with a focus on social forestry, water resource management, agricultural and livestock management, fisheries and health, and now has grown into one of the top 10 MFIs in the country. Safe Save, a pilot project that took on the legal framework of a savings and credit cooperative started as a Lilliputian provider amongst the giants; however, has attained international fame for its success in innovating a savings based individual lending model in urban Dhaka, in contrast to the dominant Bangladeshi model of a credit-led group- based lending model for rural clients. The fourth phase was one of professionalization and expansion of microfinance portfolios, and moving towards commercialized funds to enhance sustainability. In the late 1990s, with the increasing threat of declining donor funds NGOs began to experience the need to enhance management capacity and develop action plans to access loans in order to expand outreach to attain scale and sustainability. In the last decade a number of NGOs have experienced tremendous expansion, with at least a dozen succeeding in reaching over one million clients. Bilateral donors and international development agencies have contributed significantly to this growth in the sector by providing technical assistance support, financing technical support and institutional development and sponsoring training within and outside the country to introduce the sector to international experiences. PKSF and a number of commercial banks have contributed to the expansion and outreach by refinancing microfinance portfolios to respond to increasing need for loan funds from existing and new customers. The support of action research and pilot testing of new products has added rigor and vitality to the sector. Expansion of microfinance portfolios has continued to the end of the 1990s and many MFIs are still experiencing high rates of growth with continued availability of commercial funds, increasing income from the loan portfolio, and member savings. The current phase is formalization and transformation. The larger and medium sized NGOs will prepare to transform into formal financial institutions in accordance with the newly established Microfinance Regulatory Authority Act, with the objective of integrating into the formal financial sector to gain access to additional sources of capital and equity as well as mobilize savings from the public. Smaller NGOs that are unable to transform due to low levels of equity and inadequate scale or performance may consider mergers to consolidate portfolios and combine their strengths to overcome weaknesses. Many of the smaller MFIs that have not been able to attain the adequate levels of sustainability and retain a committed customer base in competitive markets may be forced out of business. The sector will be faced with some new challenges, including intensified competition in some of the rural and urban markets where market saturation is already evident, and innovating mechanisms to service the markets that remain unbanked, including the extreme poor or â€Å"hard core poor† and the populations in remote areas that remain beyond the reach of either the formal banks or NGO MFIs. The Microfinance Sector of Bangladesh ————————————————- The Microfinance Sector In Bangladesh: The microfinance sector in Bangladesh consists of the following stakeholders who are categorized as the micro, micro and macro levels. The micro level consists of the existing clientele and the potential target client group who remain unserved or underserved. The micro level also consists of the different kinds of providers, including the formal, semi-formal and informal providers such as moneylenders, pawnbrokers and rotating credit and savings associations. The micro-level consists of the financing partners, including donors, refinancing partners, development finance institutions, multilateral and bilateral aid agencies, commercial banks, specialized banks, development banks, as well as government agencies. Private investors are new comers in the micro-level providing equity and capital to MFIs. The micro level also includes technical support providers including training institutions, networking institutions, microfinance associations, rating agencies, audit firms, consulting firms, independent consultants and academic or research institutions. The macro level consists of the regulatory bodies including the Central Bank or Bangladesh Bank and the Ministry of Finance. A principal player within the macro level is the NGO Affairs Bureau (NGOAB) which governs and supervises the NGO microfinance providers, including local and international NGOs with programs in Bangladesh. About 62 percent of the borrowers live below the poverty line. The vast majority of these clients do not have physical collateral to secure loans and need alternative collateral mechanisms. The 2005 World Bank report states that a total of 9. 6 million households are being served by MFIs. The total number of clients served by microfinance sector is approximately 24. 25 million with effective coverage to about 17. 32 million clients showing a substantial gap between demand and supply. Microfinance institutions, including Grameen Bank, collectively service more than 60 percent of the demand, with Grameen serving about 20 percent of the total. Women constitute 90 percent of the clientele. Average loan sizes are around Tk. 4000 (US$60). In 2006, micro credit loans constituted about 44 percent of the total disbursements in the credit sector. The microfinance providers are primarily MF NGO and a few non-bank financial institutions (NBFIs), and one specialized microfinance bank, namely Grameen Bank. Some of the ministries or divisions of the Government of Bangladesh support large micro credit projects and some of the commercial banks have established windows for microfinance loans. Microfinance NGOs cover the largest share of the microfinance market. A report published by the Micro credit Regulatory Authority (MRA) reveals that up to June 30, 2006, states that the volume of loans outstanding for the 651 major NGO- MFIs is US $1105. 86 million and CDF's statistics for 2006 show that up to December 2006, cumulative disbursement of 611 major MFIs was approximately US$8,171. 71 million. Grameen Bank is the only MFI with a specialized bank license. The MF NGOs are led by three very large organizations namely ASA, BRAC and Proshika which represent 94% of the total sector, in terms of numbers and more than 73% of the savings. The remaining part of the sector is comprised of 332 small & very small organizations. The Government of Bangladesh is a major stakeholder. The Microfinance Regulation: Most of the NGOs providing financial services were established as development organizations, and registered as LNGOs or INGOs. Most of the microfinance portfolios were grown on grant funds from foreign sources. With the increasing inflow of external resources, the government concerned with transparency and accountability created the NGO Affairs Bureau (NGOAB) in 1991. NGOAB played the role of the primary regulator of the development NGOs supported by foreign funds, providing microfinance services in the country. The fact that MFIs remained unregulated for the past four decades has had an impact on their substantial growth in outreach and sustainability as well as promoted innovation. However, as the sector has acquired significant scale particularly in terms of deposits there is a concern regarding depositor security and the interests of poor clients. They can easily be exploited by microfinance providers, especially as many providers are motivated more by the potential for profit rather than to achieve social development objective. Recent reform measures include the reformation of previous acts creating the Micro Credit Regulatory Authority Act 2006, building on the revious acts such as the Societies Registration Act 1860 (the same as in India) Companies Act 1913, Trusts Act 1882, Charitable and Religious Trust Act 1920 and Cooperative Societies Ordinance 1984 that have created the regulatory framework for the industry in the past. The Bangladesh Bank in coordination with NGOAB and in consu ltation with the microfinance NGOs represented by CDF and PKSF have established the Microfinance Regulatory Authority and created the Micro Credit Regulatory Authority Act 2006. All NGOs providing micro credit have to register with both the NGOAB if they are receiving foreign funds as well as the Microfinance Regulatory Authority if they wish to continue providing financial services. In time it is expected that all MFIs will apply for license, and be formalized and integrated into the formal financial sector. There are some in the industry who feel that it is essential to have a regulatory framework to protect the sustainability of the sector, foster innovation and nurture growth, and most importantly to protect the interests of the clients while there are others who fear that regulation could strangulate growth and innovation. The MRA Act requires all MFIs to register with the MRA in order to operate legally in the country in the provision of microfinance services. The MRA will issue and cancel licenses for micro finance operators, oversee, supervise and facilitate the entire range of activities of MFIs. The MRA will establish a depositor's insurance fund to ensure safety of the depositors and to secure all MFI deposits. All MFIs will be required to maintain a reserve fund which cannot be spent without prior permission of the authority. MFIs will not be allowed to take deposits from persons other than their members (i. e. no mobilization of deposits from the public who are not members of the MFI). MFIs that deviate from the norms will be subject to punishment of not more than one year of imprisonment or a fine of not more than Tk. 500,000 (US$ 7143). Furthermore, the MRA will keep a watch over the MFIs in Bangladesh in order to safe guard the interests of microfinance clients, as well as ensure the protection of microfinance customers against overpricing. Price setting will be judged by the government in keeping with guidelines and regulatory provisions. Resources will be allocated from the commercial banks and formal financial sector to meet the demand for micro credit. The MRA will be responsible for monitoring and evaluation of performance. The Act is a fairly recent intervention in a sector that has grown and developed and come of age over a period of four decades. It will take time for the stakeholders to get accustomed to the new regulatory framework and in turn for the regulatory authority to work out the existing areas of weakness or gaps in the Act and in the systems that are being established for registration, appraisal, licensing, monitoring and supervision. The present framework is a starting point. There will be modifications and amendments in the future. At present the legal frameworks do not include the option of a microfinance bank, as there is a fear of possible financial mismanagement resulting from limited controlling capacity of the newly formed MRA; however, in future this option may be provided based on the demand from MFIs for this particular legal framework and the capacity of the MRA to license and supervise these entities. Another critical concern is the exclusion of foreign microfinance institutions that are promoted by international NGOs. Local MFIs are concerned that these provides will have an unfair advantage as they will have continued access to financial resources from external sources which could result in negative competition. Domestic MFIs feel strongly that the MRA should establish a policy that monitors the cash flow into foreign MFIs and closely monitors their expansion strategies. Although insurance is an essential product to provide a social safety net to protect vulnerable populations from the impact of death, disease and other shocks and emergencies, the MRA has not included microinsurance as part of the products of MFIs. Insurance is a specialized financial product and is not within the purview of the Central Bank. At present, micro insurance products offered by both insurance providers and microfinance institutions are inadequate to meet the needs of microfinance customers. The sector will have to focus its efforts on action research and pilot testing with the government contributing to providing a social safety net for the vulnerable segments of the population. The Microfinance Institutions: The first generation MFIs that emerged in the 1970s had an explicit social agenda and their focus was on poor segments of the population particularly women. The geographic focus was primarily in the rural areas, but as migration created urban poverty, microcredit programs began to shift their focus to urban lending programs. While some NGOs offer an integrated development approach, including some community development, most NGOs have transformed into microcredit focused NGOs. MFIs are categorized into four major groups, including NGO MFIs, which constitute the large proportion of MFIs, commercial banks with microfinance windows, and government line ministries that have promoted micro credit projects and programs. There is one specialized microfinance bank, namely Grameen Bank. The Grameen Bank established in 1983 under a special law with the initial support from the Bangladesh Bank is the only MFI that has been awarded a license to operate as a specialized bank for microfinance. All the other MFIs are NGOs that are registered with the NGOAB and now with the MRA. The MFIs including Grameen Bank include the Big Four that have outreach to over 3 million clients. A handful of large MFIs reach over 1 million clients. Another 20 odd MFIs are categorized as medium sized institutions with outreach to less than 100,000 clients. The rest are small and very small MFIs, with about 20,000 clients. The smallest have less than 5000 borrowers. Most of these institutions operate in the rural areas, although several of the larger institutions are now lending in both rural and urban areas. A few institutions specialize in urban microfinance. The Government promoted micro credit programs are substantially large. About thirteen ministries and fifteen divisions of the government of Bangladesh deal with microfinance activities with a cumulative disbursement of US$1238 million at the end of December 2006. The government programs are less efficient with recovery rates of about 84 percent as compared to the NGOs that have repayment rates over 90 percent. The 2005 World Bank Report indicates that a total of 9. 6 million (out of 14. million households) or 37 percent of all households in the country are currently served by microfinance services. The â€Å"Big Four† – Grameen, ASA, BRAC and Proshika – collectively account for 86 percent of the 14. 3 million active borrowers. Collectively they have more than US$1249 million in loans outstanding and over US$402 million in savings. Microfinance Delivery Mechanism: Bangladeshi MFIs are best known for large-scale provision of microfinance services to the poor women using non-traditional collateral mechanisms. With more than 90 percent of clients being rural women, MFIs have demonstrated repayment rates of over 90 percent in comparison with the formal banking sector. The average loan size of MFIs is around Taka 4000 (US$60). Microcredit is provided to poor or low income households through groups. Loan contracts are made in the name of individuals, but the group is an essential mechanism in the delivery and recovery process. Depending on the provider, the group performs different functions, including providing a cost-effective mechanism for client screening, loan appraisal, disbursement, collection, monitoring, supervision and the mechanism for delivering non-financial services. Some MFIs are now making loans to individuals as in formal banking practices, without requiring membership in a group. The main feature of Bangladeshi microfinance is the provision of loans without demanding traditional collateral as security. The solidarity group concept is embedded in the social structure of Bangladesh which consists of closely knit groups at the village level who in the absence of external mechanisms provide essential social safety net for poor households. More importantly, the Bangladesh group model was developed according to the principles of group solidarity. An MFI organizes a joint liability group of up to 5 members who then form peer pressure groups of as many as 30 individuals or 6 joint-liability groups. The primary use of the group in the Bangladesh microfinance model is to offer alternative collateral mechanisms for the target client group that is unable to offer physical collateral to secure loans. Solidarity groups† provide group guarantee by using joint liability and peer pressure principles to enforce repayment from individuals within the group. In almost all the microfinance models, loans are further secured through the collection of compulsory savings that are deposited in a loan s ecurity deposit account. The loan security deposit helps when joint-liability and group guarantee mechanisms either are inadequate or fail. Microfinance Products: The traditional microfinance loan product is usually called the â€Å"General Loan. † This is a small loan with a ceiling that is under US$100 (at present the average loan size is US$60). Loan ceilings are based on the expressed demand from members as well as the fund availability the MFI to meet the demand for loans. When members reach the maximum loan size, they have the option of applying for a larger enterprise loan if the MFI offers this product at different rates and repayment terms and conditions, or has to consider moving to another provider that offers the desired product. The General Loan is provided in cycles of up to 12 months with about 45 monthly installments consisting of equal amounts of principal and interest. Loan installments are calculated based on the average household income of the target client group, allowing the vast majority of clients to repay without undue stress; however, most clients find repayment during the early years a struggle given their lack of adequate income and financial management capacity, and clients taking larger loans can also find installments difficult to handle if household income is not sufficient to manage essential expenditures. Interest charged by MFIs varies and is calculated on a flat or declining basis depending on the operational efficiency, cost of funds, inflation and other factors specific to the institution such as fees to cover non-financial inputs to the business or social development services. Upon the successful repayment of a loan, the client is eligible to apply for a larger loan in the next cycle, where the ceiling is increased automatically by Tk. 500 (US$7). Currently, loan ceilings for the General Loan are as high as Tk. 50,000 (US$700). Clients can borrow as much as they want within the ceiling of their loan cycle. In principle there is no pressure for clients to borrow the maximum amount and can opt to take smaller amounts based on their need and their repayment capacity. In case of arrears MFIs have policies regarding penalties. In case of default, the client is closely monitored and there is some grace period to recover outstanding amounts over the subsequent installments. In case of a loan default, the MFI follows its recovery procedures, depending on the terms and conditions specified in the loan contract. In the case of collecting bad debt, the first step is to work with the group members of the joint- liability group to analyze the reasons for default in consultation with the client and the family and identify options for recouping the loan outstanding. The next step is to discuss the situation with the larger peer group to identify the best strategy to recoup the loan. Depending on the situation, either the client will take responsibility to repay the entire amount or in other cases, the group members will help by contributing from the group fund to repay the outstanding amount to keep the group in good standing with the MFI. In situations where the client is not at fault, and the reasons for default is due to death, illness or business failure due to external factors, the interest may be waived, the entire loan may be rescheduled or even waived and covered by the loan loss reserve fund of the MFI. As microfinance loans increase in size, the exposure to risk inhibits group guarantee through the group fund as a reliable or viable means of recovering losses. Therefore, in the case of larger loans, a client is eligible for larger micro enterprise loans, but must maintain membership in the group and comply with all the group requirements, including regular meetings, compulsory deposits, and deposits in the voluntary savings account. Although the group must continue to assist in the collection of bad debt, the loans are secured through the loan security deposit of the individual client as well as the attachment of secondary assets that the client can liquidate if faced by income loss causing repayment problems. In a few cases, such as ASA, loans are being made to individuals outside the group mechanism to attract a different target group of clients, including men and women with established microenterprises who are not interested in group mechanisms but are interested in borrowing from an MFI as they are not eligible for commercial bank loans. The General and Micro Enterprise Loans are generally provided for many different purposes including investment in business activities including investment in productive assets such as agricultural land, equipment, machinery, electricity connection and inventory. Microfinance clients can obtain sector programme loans for micro enterprise development in areas such as trading, service sector, food production, poultry, livestock, agriculture, sericulture, fisheries and social forestry. Some NGOs offer clients enterprise development training, technical assistance for specific sub-sectors as well as marketing inputs. General loans are provided for any profitable and socially acceptable income enerating activities such as: rural trading; rural transport; paddy husking; food processing; small shops and restaurants, etc. Although diversion of loans for household consumption needs is not encouraged, there is an understanding that money is fungible, and what is important is that income levels w ithin the household enable a client to repay her installments regularly and continue to remain a customer in good standing. General loans usually range between USD$15 and USD$160. Members are eligible to apply for larger amounts once they have repaid their outstanding loan in full and as per the terms and conditions specified in the loan contract. The micro-enterprise loans are larger than general loans, and can be borrowed both at the group level and also as individuals directly, but with more rigorous credit appraisal including a thorough household and business appraisal to assess risk and potential for repayment. The clients are usually graduates who have successfully repaid several general loans and are committed to transforming small income generating activities into sustainable micro enterprises that will provide the primary income for the household. Some MFIs offer agricultural loan products that have different terms and conditions for repayment depending on the agricultural cycle. Repayments are made with monthly installments of interest and a payment of the principle amount in one or more installments depending on the cash flow of the household. MFIs also offer loans for other purposes, including asset creation, housing improvement, house construction, purchase of homestead land, as well as education of children. Several MFIs offer loans for repair of their homes, upgrading and in some cases actual construction of home or purchase of homestead land. Bangladesh Bank now offers house-building loans to MFIs at the rate of 1 percent per annum to finance the demand for housing loans from MFI clients. The average loan size is typically USD$310. In addition to these productive or investment loans MFIs also provide other loans for emergencies, disaster mitigation, sanitary latrines and tube wells. Due to the fact that Bangladesh is often affected by natural disasters including floods and typhoons, MFIs often provide emergency loans and disaster loans to help clients cope with the loss of income and assets as a result of a disaster. Typical microfinance loan products 1. General Loan 2. Micro enterprise Loan 3. Agricultural Loan (for cultivation purposes) 4. Housing Loan or House Improvement Loan 5. Education loan 6. Emergency or Disaster Loan 7. Tube well loan 8. Sanitary latrine loan ————————————————- ————————————————- Trends and Growth of Microfinance Programs of MFIs Trends and Growth of Microfinance Program of MFIs: The previous chapter dealt basically with the overall development of the microfinance sector. This chapter presents the overall trends and growth of the sector using panel data of 126 MFI-NGOs. These MFI-NGOs, however, have mobilized around 82 percent of the members mobilized by total MFI-NGOs of the country. GB is not included among these MFI-NGOs. The use of such panel data enables to clearly understand the growth and efficiency of the MFI-NGOs in the given period. Employment and Gender MFI-NGOs have not only contributed to providing financial services but also contributed to the generation of employment. Over the past four years, 2006 through 2009, there has been remarkable growth (Table) in employment creation by the MFI-NGOs. The panel data show, these 126 MFI-NGOs created some 31,505 new employments. The increasing trend in employment creation was observed from 2006 to 2008 while a slight decrease was taken place in 2009. A negative annual growth rate of total staff in 2009 was 0. 60 percent which was drastically lower compared to positive 2. 54 percent growth in 2008 and 27. 15 percent in 2007. Over a period of four years, 2006 through 2009, the growth was around 30 percent. There is a positive relationship between program expansion and number of staff employment. Credit staffs constitute a major share of total staff. The share of credit staff in total staff was around 62 percent in 2009 while no significant change was observed from 2008. On the other hand, the other staff contributed to around 38 percent of total staff resulting a slight increase in 2009 over 2008. Table [ 1 ]: Staff Strength and Growth of MFI-NGOs Figure [ 1 ]: Percent distribution of Staff of MFI-NGOs by gender 2009 Figure [ 2 ]: Percent distribution of Staff of MFI-NGOs by gender 2008 Women empowerment has been one of the major objectives of MFIs. Although this is reflected in mobilization of female members, it is not reflected in emale employment. Only around 26 percent of total staff and around 16 percent of total credit staff were female in 2009. Although the total number of female staff increased but the growth rate declined. This is evident from Figure 2. 1. 3. This may have happened because of longer hours of work, adverse geographical condition and overall, the psyc hology of the employers. Still the growth of female staff was higher compared to the growth of male staff in 2009. The growth of female staff was 6. 63 percent compared to a negative 2. 89 percent growth of male staff in 2009. The distribution of staff of MFI-NGOs by gender has been presented in Figure. However, recruitment of local level field female staff has probably contributed to higher female employment, which indirectly stimulated women empowerment. Figure 3: Trend in Credit Staff of MFI-NGOs Membership in MFI-NGOs Figure [ 4 ]: Percent Distribution of Membership in MFI-NGOs by Rural and Urban Areas in 2009 Figure [ 5 ]: Percent Distribution of Membership in MFI-NGOs by Rural and Urban Areas in 2008 MFIs initially started their programs in rural areas. Over time, they expanded their programs to urban areas too. Microfinance in Bangladesh is synonymous to credit for landless and asset less rural poor. As such the preeminence of rural members is quite natural in the overall microcredit members mobilized. On the other hand, the magnanimity of female members in the overall membership is very usual, as microcredit as a poverty alleviation tool has taken women empowerment as one of its agenda from the very on set. A total of 22,734,381 members were mobilized up to 2009. Among them, the share of rural areas was 88. 59 percent in 2009 (Figure) compared to 89. 33 percent in 2008 (Figure). There has been an increasing trend in membership mobilization in rural areas up to 2008 since 2006 (Figure), but it decreased in 2009 by around 6 percentage point. In urban areas, the total number of members was increasing at a decreasing rate. As are evident from Table 2. , the number of female members in rural areas decreased for the first time in 2009 by around 2 percentage point compared to 2008. But over the period, 2006 to 2009, female members in the rural areas achieved a growth of around 32 percent. Figure [ 6 ]: Trend in Membership by Location of MFI-NGOs Figure [ 7 ]: Distribution of Growth of Me mbership The annual growth of rural female member was 1. 62 percent in 2009 compared to 2. 99 percent in 2008 and 12. 39 percent in 2007. The annual decrease in the number of male members in rural areas was 877,271 in 2009 from 2008 with a deceasing rate of around 26 percent. Over the period, 2006 through 2009, the rate declined by around 21 percent. An opposite scenario was seen in the growth of male members in urban areas. In this year the growth rate of male membership got rid of 1 percent negative growth of 2008 and recorded 1 percent positive growth. In 2007 male membership had 13 percent positive growth. Interestingly, some 1,257,210 members were declined in rural areas, while the number grew by 37,589 in urban areas resulting decrease of overall 1,219,621 members in 2009 compared to 2008. Over the period from 2006 to 2009, the overall growth of membership was around 20 percent and at the same time the growth of female and male members was around 30 percent and 20 (negative) percent respectively. The trend on the membership is also shown in Figure. Table [ 2 ]: Growth of Membership Trends in Lending Behavior The scenario of the sector is also possible to see through important program data, such as, amount of members' savings or group savings, total (or cumulative) number of borrowers provided loans (inclusive of repeat loans) ever, current number of borrowers, amount of cumulative loans disbursed, amount of loans outstanding with the borrowers, and amount of revolving loan funds. Borrower-Member Ratio: All the members at a given point of time may not be borrowers, and even everyone may not borrow. This is reflected in borrower-member ratio. As the panel data (Table 2. 3. 1) showed that in 2009 MFIs could provide loans to 70. 42 percent of the members compared to 74. 20 percent in 2007 and 78. 80 percent in 2007. This declining trend throws a big question to the microfinance industry about its progression with the given mandate of reaching the poor with financial services for poverty alleviation. As expected, borrower-member ratio is higher for the female than the male members. Around 73 percent of the female members had borrowed in 2009 while the percentage was around 77 in 2008 and about 83 percent in both 2007 and 2006. The higher ratio for female could be happened due to perceived financial discipline and less mobility of female. After showing a continuous increasing trend in the borrower- member ratio for male members from around 54 percent in 2006 to around 61 percent in 2008, and again it declined to around 56 percent in 2009. The borrower-member ratio for female members was around 17 percent higher than that of male members in 2009 and the trend continued also in all the years under consideration. It could be the mobility of the male borrowers that makes MFIs conservative in lending to them. Table [ 3 ]: Borrower and Member Ratio (%) There is, however, not much difference exists in borrower-member ratio in rural and urban areas. But a decreasing trend was observed in the borrower-member ratio in both the rural and urban areas. Such trend may be attributed to market saturation, mobility of members in the credit market, or the process of consolidation of the MFIs. Plausible causes need to be investigated. Intensity in Number of Loans: It is reflected in the ratio of cumulative borrowers and current borrowers. Cumulative borrowers are essentially the number of loans taken. Current borrowers represent active members. As such, the ratio of cumulative borrowers and current borrowers will give us a trend in the intensity of number of loans per borrower. The cumulative number of borrowers of 126 MFI-NGOs till 2009 was 39,536,838, higher by around 12 percent than the 2008 level, and around 53 percent higher than the 2006 level. As expected, the number of current borrowers was less than the cumulative borrowers. The number o