Study Of Autocratic Leadership Style Management Essay

Study Of Autocratic Leadership Style Management Essay There are many ways to lead and every leader has his own style. Some of the most common styles include autocratic, bureaucratic, democratic and laissez-faire. Autocratic Leadership Style This is often considered the classical approach. It is one in which the manager retains as much power and decision-making authority as possible. The manager does not consult employees, nor are they allowed to give any input. Employees are expected to obey orders without receiving any explanations.Some studies say that organizations with many autocratic leaders have higher turnover and absenteeism than other organizations. These studies say that autocratic leaders: Rely on threats and punishment to influence employees      Do not believe the staff      Do not allow for employee input     Nevertheless, the autocratic leadership is not so bad.Sometimes it is the most effective style to use.  Such situations may include:      Employees do not respond to any other style of leadership      There are high volumes of production needs on a daily basis      There is limited time for decision      Work must be coordinated with another department or organization   autocratic leadership style should not be used in the following cases:      Employees become tense, fearful, or resentful      Employees are expected to have their opinion heard      Employees begin depending on their manager to have all their solutions      There is low employee morale, high turnover and absenteeism and work stoppages Bureaucratic Leadership Style Bureaucratic leadership where the manager manages by the book. All must be done in accordance with the procedure or policy. If this does not apply to books, the manager refers to the next level above him or her. This manager is really more police officers than the leader. He or she  apply the rules.   This style can be effective if:   Employees perform routine tasks over and over again.   Employees must understand the specific standards or procedures.   Employees working with hazardous or fragile equipment that requires a set of procedures for the job.   Safety and security training is conducted.   Employees perform tasks that require cash handling.   This style does not be effective if:   Skills of the forms that are difficult to break, especially if they are no longer useful.   Employees are losing interest in their work and their colleagues.   Employees do only what is expected of them and nothing more. Democratic Leadership Style It encourages employees to be part of decision-making process.Democratic manager keeps his or her employees informed about everything that affects their work and shares decision making and problem-solving responsibilities.   Democratic leadership can produce high quality and quantity of work for long periods of time.  Many employees like the trust they receive and respond cooperation, team spirit and high morale.Typically, the democratic leader:   Develops plans to help employees assess their own performance   Allows employees to set goals   Encourages employees to grow jobs and encourage   Recognizes and encourages achievement.   Like other styles, the democratic style is not always appropriate.It is most successful when using highly skilled and experienced employees or when implementing operational changes or permits a person or group problems.   The democratic leadership style is most effective if:   The leader wants employees informed about matters that affect them.   The leader wants employees to participate in decision-making and problem-solving responsibilities.   There is a large and complex problem that requires a lot of input to solve.   you want to promote team building and participation.   Democratic leadership should not be used in the following cases:   There is not enough time to get the input of each.   Its easier and more cost effective for the manager to decide.   Business can not afford mistakes.   The manager feels threatened by this type of leadership. Laissez-Faire Leadership Style This kind leadership style is also known as hands-off  ¨ style. This is where the manager gives little direction and gives employees more freedom as possible. All authority or power is given to employees, and they must set goals, make decisions and solve problems independently  .   This is an effective style to use when:   Employees are highly skilled, experienced and educated.   Employees have pride in their work and desire to do it successfully yourself.   Reliable and experienced staff.   This style should not be used in the following cases:   It makes employees feel insecure in the absence of the manager.   The manager can not provide regular feedback to employees know how well they are doing.   The manager does not understand their responsibilities and hopes that staff can cover for him or her. P7. Explain the different motivational theories and their application within the workplace Maslows Hierarchy of Needs is the most widespread theory.  He believes that human beings have desires that influence their behavior in particular unmet needs.  needs come in order of importance.  person to the next level is necessary if low-level need is satisfied.  on the need to level the person moves, more personality and mental health reveals.   These requirements, from a lowest to highest are: psychological, health and safety, social, esteem and self-actualization.Examples of physiological needs are food and water.  Security refers to security, freedom from violence, safety, and others.Social is a sense of belonging as family, friends, colleagues and other professionals.  Self-esteem is a need for approval, recognition, status, etc.  And, finally, self-actualization refers to the need for personal growth through education, religion, hobbies, and others.   According to Maslow, it would be difficult to achieve the ultimate goal of self-realization, if the following goals are not met or taken care of first.  Food, water, shelter these are just some of our most pressing needs, which precede all others.  For example, it would be silly to worry about how to become emotionally stable, when you can not even have a decent meal or if you are seriously ill.  Taking care of immediate needs, you can begin to take care of the higher needs. Just as Maslows hierarchy of needs, Herzbergs Two Factor Theory is a need-based theory of motivation.  This theory is considered more powerful than Maslow, because it is easier to understand.   two-factor theory says that certain factors in the workplace leads to job satisfaction.  Others did not affect the satisfaction, but if not can lead to dissatisfaction   These factors of motivation and hygiene factors.  Motivators to ensure job satisfaction.  This includes the recognition, responsibilities and tasks.  Hygiene factors are so called because, like hygiene, their presence will not make people healthier, but their absence can cause decay.  Examples of these include salaries, fringe benefits, job security.  Hygiene factors, therefore, can determine dissatisfaction and motivators determine satisfaction. Both scales are independent and one can score high on both factors. Vrooms Expectancy Theory explains why people choose a certain course of action. Unlike the three aforementioned theories, Vrooms theory is not need-based. There are three variables in this theory: Valence, Expectancy and Instrumentality. Valence refers to the importance of the anticipated outcome of a situation. Expectancy is the belief that the effort exerted and success of the situation are related. Instrumentality means the success is related the expectations Vrooms Expectancy theory could sometimes be associated with work situation just like Herzbergs Two Factor Theory. But, in actuality, this theory is applicable to almost all kinds of situations whether work-related or not. Vrooms expectancy theory simply espoused the idea that the reason people do some things is because they expect a certain outcome. I apply Vrooms expectancy theory to my professional life because I believe in doing things not because I want to attain a certain reward but I want to attain something I truly desire for myself. For instance, I do a good job at the office not because I want a promotion, although it is part of it, but because I expect to feel fulfilled after having done something worthwhile. P8. The relationship between motivation theory and the practice of management: Different motivation theories have different effects. Motivation has to be built into the structure and without the motivational theory without the practice of management. You cannot practice motivation if you do not first have a theory or concept. In order to be a great manager or leader you have to be a good motivator, you should know what motivates your staff and what doesnt. A manager who cannot motivate or doesnt know how to motivate cannot do a good job, his job is to improve the performance of the staff and motivate all of them. P9. Describe the nature of groups and group behavior within organizations: Nature of groups The term group can be defined as, two or more persons interacting and working together to get a job or something done. When people work in groups rather than as individuals, the goals of the organization can be easily achieved. Groups can get a job done fast and usually accurate, group members could gather information and tell each other if they are doing something wrong or not, and they could appoint themselves to do a specific job which they are best in to contribute as much as possible to the group. People form groups for various reasons. Maybe get a job done faster or even to get a job done while not putting as much effort if youre the only one working on something. Various Types of Groups: There are formal and informal groups in organizations. Various groups exist within the organization and they are of varying degrees of formalization. Groups in organizations are of various types based on the number of members they have and the interactions between them. Formal Groups A group formed by the organization to accomplish a specific task is termed as a formal group. The organization sets up a formal group and allocates tasks and responsibilities to different members with the intention of achieving organizational goals. Command groups and task groups are examples of formal groups. A command group is relatively permanent in nature and finds representation in the organization chart. Functional departments of organizations are considered as command groups. Task groups, on the other hand, are formed for a specific task and are temporary in nature. They are dissolved after the task is accomplished. After dissolution of the task group, the members of the task group continue as members of their respective functional departments or command groups with reduced duties. Informal Groups Informal groups are formed by the employees themselves. The reasons for the formation of informal groups could be the need for companionship, common interests, growth, recreation, or support. There are two types of informal groups friendship groups and interest groups. Members of friendship groups have a cordial relationship with each other, common interests and are similar. They like each others company and want to spend time together. Interest groups are formed to organize an activity and are temporary in nature. Informal groups mainly satisfy the social needs of members.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   With regards to nature of groups, I would just like to add that members may have conflicting ideas and having your views challenged should could either reaffirm your own beliefs or transcend them-people should come into groups with an open mind. P10. Investigate the Factors Lead to Effective Teamwork and Influences that Threaten Success: In todays workplace, the group leaders need to solve complicated problems and to take ideas from their first stage through a series of complex processes to a successful completion. This kind of work cannot be done alone. There are just too many demands, task requirements and various sources of information required to do it without the support of others. The most important factor that can lead to efficient teamwork is motivation, it is a team leaders job to delegate tasks and to make sure that each member of their team contributes and is good at what they do. For example, if Picasso was one of the members in your group then you should give him a task that requires creativity, since being creative and artistic is his strength then it seems that natural that hell be good at what hes assigned to do. Leaders should build a relationship with its members by making ideas together and supporting it, and even improving each others ideas. They must be open and approachable P11. Evaluate the impact of technology on team functioning within a given organization:  Ã‚  Ã‚   The use of new technologies can improve and in some cases hinder team functioning. As technology changes teams must update and maintain their knowledge in order to function effectively. Technologies which have improved team functions Computers Internet Email Cell Phones Blackberry Groupware PDA Personal computers allow team members to carry out various tasks and communicate more effectively. Laptop computers allow you to do this anywhere. They are now lighter, more powerful and a longer battery life. Personal Digital Assistants (PDA) now have much of the same functionality as laptops, but are smaller, more portable and have a longer battery life. Many PDAs now have wifi as standard and some are also phones (and some phones have many PDA features). Internet has been a huge, worldwide explosion in the use of the Internet. It is already changing the way we work, shop, bank etc. Information technology has had an impact on the way we work for quite some time, but the Internet has now added electronic mail (email), teleworking and video conferencing to the workplace. E-mail allows direct communication which means team members do not need to be in the same place at the the same time in order to communicate effectively. E-mail also has its negative aspects in terms of managing e-mail and the misuse of e-mail. Cell phones have come a long way since the 1980s and there are now more mobile phones in the UK then there are people. Mobile phones allow teams to communicate even when team members are out of the office, on the road or otherwise unavailable. Sometimes having always access to team members can hinder team functioning. Phone technologies such as blackberry and 3G datacards allow team members to work and communicate remotely. Groupware enables teams to plan meetings, collaborate, delegate all within a virtual environment which can often be accessed remotely from anywhere in the world. Technology is found in its various forms in small and large businesses, the service sector, and state institutions, manufacturing companies, educational departments, multi-national organizations and the local shop.

Pakistan Microfinance Sector Analysis

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

Red Plaid Shirt Essay -- essays research papers

Red Plaid Shirt   Ã‚  Ã‚  Ã‚  Ã‚  Where are the memories of our pasts held? In scrapbooks full of photographs, or perhaps written on the pages of a locked diary? Picture though, something as simple and ordinary as a closet full of clothes. Think about its contents, where they have been worn, what they have been through, the stories attached to each item. The nameless protagonist of Diane Schoemperlen’s short story Red Plaid Shirt does this as she recalls a snippet of her past life with each article of clothing she picks up. Red plaid shirt, blue sweatshirt, brown cashmere sweater, yellow evening gown, black leather jacket†¦each item has a tale of its very own, and when combined they reveal the full story of the main character’s life.   Ã‚  Ã‚  Ã‚  Ã‚  This story is fairly unique, as it is made up of several smaller tales. It starts off simply enough, as the main character fondly recalls a red plaid shirt that her mother bought for her one summer. Schoemperlen further builds up the plot as the main character discloses every detail that she can remember about the shirt, as well as many other articles of clothing. These details are gradually strung together into the sometimes unfortunate memories that form the story line. The reader cannot help but become involved in the story, for it is such a personal account of the protagonist’s life. Many of the readers have probably felt the same way about a few select articles of their own clothing, and attached the...

What are the Effects of Marriage and Religion on African Americans in U

What are the Effects of Marriage and Religion on African Americans in Urban America? The last three decades have witnessed a â€Å"retreat from marriage† in the United States, marked by high rates of nonmarital births, lower rates of marriage, and divorce. Although a growing body of research on the retreat from marriage has focused on its social and economic causes, little attention has been paid to the role that cultural institutions play in furthering or resisting the retreat from marriage. This paper focuses on the role that religious institutions—and the cultural norms and behaviors they promote—play in resisting this retreat among new parents in urban America. Using data from the Fragile Families and Child Wellbeing Study, we find that urban mothers who attend church regularly are significantly more likely to be married at the time of birth compared to urban mothers who do not attend church frequently, and that urban mothers who have a nonmarital birth are significantly more likely to marry within a year of that birth if they attend church f requently. These religious effects are mediated in part by the relationship-related beliefs and behaviors promoted by churches. Church-going urban mothers express higher levels of normative commitment to the institution of marriage. They also are more likely to benefit from higher levels of supportive behavior (e.g., affection) from the father of their children and lower levels of conflict with the father over sexual fidelity. Thus, by fostering beliefs and behaviors that support matrimony, religious institutions help urban mothers make the transition to marriage in communities where marriage has become increasingly infrequent. Recently, there has been a huge decline in marriage... ...ay also help explain distinctive class, racial, and ethnic patterns of marriage. Works Cited Furstenberg, Frank. 2001. â€Å"The Fading Dream: Prospects for Marriage in the Inner City.† In Problem of the Century, edited by E. Anderson and D. Massey. New York, NY: Russell Sage Foundation Allison, Paul D. 1995. Survival Analysis using the SAS System: A Practical Guide. Cary, NC: SAS Institute, Inc.. Anderson, Katherine, Don Browning, and Brian Boyer. 2002. Marriage: Just a Piece of Paper? Grand Rapids, MI: Eerdmans. Axinn, William G. and Arland Thornton. 2000. â€Å"The Transformation in the Meaning of Marriage.† In The Ties that Bind, edited by L. Waite. Hawthorne, NY: Aldine de Gruyter. Thornton, Arland, William G. Axinn, and Daniel H. Hill. 1992. â€Å"Reciprocal Effects of Religiosity, Cohabitation, and Marriage.† American Journal of Sociology 98:628-651.

Adam De La Halle And Ars Antiqua Time Period :: essays research papers

Adam De La Halle and Ars Antiqua Time Period Life Summary Adam de la Halle is often referred to as the greatest of the long succession of post Medieval musicians. He was a poet, musician and innovator of the earliest French theater. He became famous for his use of polyphony and his theatrical productions. Adam originally trained for the clergy (the people of the church). Marriage interfered with his musical career; but with the help of some noble benefactors he was able to pursue musical studies at the University of Paris. The remainder of his life was spent in service of noble patrons. His Music Adam de la Halle was of French origins. All of his lyrics were written in French. Much of his early music was monophonic which shortly after became homophonic and then transformed into polyphonic. Much of his polyphonic work was set for 3 voices or instruments. If a piece of music is monophonic, then it has only a melody line and no harmony. Much of the medieval music was monophonic. If the music is homophonic then there is only one melody line, but it may be played by two or more instruments. Many of the songs that were originally monophonic were easily transformed into homophonic by add extra voices or instruments. Polyphonic is the type of music we hear today. Polyphonic is when there is a melody line accompanied by harmony. A considerable amount of Adam de la Halle's polyphonic work was designed for plays. One of Adam's manuscripts contains the oldest known existence of the sharp sign. In 1872 his music was officially published. Ars Antiqua Time Period Ars Antiqua is Medieval Latin for "ancient art". Ars Antiqua was the period of musical activity in 13th century France. The music was characterized by the increasing sophistication of counterpoint (the art of combining simultaneous voice parts). Modern music historians classify the whole 13th century as Ars Antiqua where as older historians classified only the later half of the 13th century as Ars Antiqua. This was the time period when music started to become more formal. In this time period, musical plays were just becoming popular and in 1283 one of the first operas was performed. Most of the music of the Ars Antiqua time period is anonymous. Two important figures stand out among the anonymity. PÃ ©rotin, who became famous in the late 12th century, composed the earliest known music for four voices. Franco of Cologne, who flourished in the middle of the 13th century, was a theorist who organized a new, more precise system of rhythmic notation, the direct ancestor

Cultural hyrbidity Essay

The fusion of cultural and ethnic identities refers to hybridisation. Most people acknowledge that they can be affiliated with an individual culture. Banton (2000) notes that â€Å"in the contemporary UK ethnicity is becoming increasingly recognised as something everyone has†. 1 Common interests or shared values help form and develop cultural attachment’s (culture, descent, ancestry, religion, languages, food and traditional values) which in turn develops and forges ethnic identities. Migration of ethnic minorities has stirred some of the UK’s population into feeling the British national identity is under threat. Hybrid identity can be attributed to the exchange of culture through globalisation. Sheila Patterson (1965) studied first generation migrants in Brixton, London during the 1950’s. Her study involved interviews, observation and participant observation with 250 whites and 150 Afro-Caribbean’s. Patterson (1965) believes the relationship between hosts and immigrants as not fixed but evolving all the time; â€Å"Whilst adaption through socialisation and acculturation was difficult for immigrants, the host’s experience was a more passive form of acceptance. â€Å"2 Eriksen (2002) points out that â€Å"no serious scholar today believes that hereditary characteristics explain cultural variations. â€Å"3 Patterson (1965) also states â€Å"the incoming group as a whole †¦ adapts itself to permanent membership of the receiving society in certain major spheres notably economic and civil life. â€Å"4 Patterson’s final stage of adaption is assimilation, where migrants or minority groups achieve complete acceptance in society. Patterson observed that physical amalgamation may lead to distinctive features of migrant groups and that of their hosts to be lost. Patterson found the progress of the West Indian migrants in Britain was limited, â€Å"there was still opposition to the employment of West Indians by white workers. â€Å"5 Nick names and jocular references resulted in conflict. A rise in the number of West Indian landlords and the acceptance of West Indian tenants did however help alleviate housing problems. Racism existed with some shops refusing the custom of ethnic minorities due to the colour of their skin. Social relationships between migrants and hosts existed but only on a casual contact basis. Patterson (1965) noted that some of the West Indians had adopted the British way of life however, there were few inter-racial marriages. Paterson concluded â€Å"over the next decades in Britain the West Indian migrants and their children will follow in the steps of the Irish and achieve almost complete assimilation into British Society. â€Å"

SURPLUS STYLES

Derrick should take to solve his problem. Derrick should firstly identify the factors that this organic process would entail. He has to ensure that whatever adjustments in the supply chain strategy he will implement should drive and support the business strategy as a well designed supply chain can provide competitive advantage. In order to continue leveraging the competition and maintain the same path of gaining costs reductions and compete on a cost productivity advantage he can opt to increase sales volumes or utilize an efficient supply chain network.Efficient apply chain network can increase efficiency and improve productivity as such reduce overall cost per unit. He should research potential suppliers assess the cost of possible outsourcing also identify key tech oenology to assist with this new direction. Establishing and building new relationships through the supply chain will be paramount since the Strategy has now changed.Investigating the competition, possible merchants and associated costs of other suppliers should be an avenue to pursue as even though the focus was initially on costs the priorities have now shifted as organic and CEO friendly rodents are more expensive than regular products. Getting all aspects of the chain aligned and workable to fit the modified supply chain design should take precedence. Should Derrick ask for the required changes from the current suppliers? If they do not comply, should he solicit new suppliers?How might he do this? It is definitely k for Derrick to ask for the required changes from the current supplier. He has maintained and fostered a relationship with them over the years and this can also be viewed as part of building further relationships in the supply chain. If they are not familiar with organic CEO roundly products they could be afforded the first opportunity to continue business provided they are willing to facilitate the request. This can mean new future potential business for them as well.If they do not comply then he reserves the right to research and seek out other possible vendors. This new direction of organic products that the company has undertaken comes with great responsibility as the company's bottom line is dependent on it. The company with the help of Derrick has in the past successfully competed on cost and has used competitive bidding to select suppliers and award yearlong contracts. He should be able to procure the same with the new specifications and supply chain design. Should Derrick go through a competitive bid in the future?If so, should he do it for all purchased products or just some products? Based on the high level of competitive environment experienced in today's marketplace garnering a sustainable competitive advantage is definitely a priority for companies. Even though organic products are more expensive he should still try to minimize costs. Utilizing a competitive bid process in the future could be recommended for Derrick as this strategy has worked eff ectively in the past for the company. This can be used for obtaining the best products at cheaper costs.Continuing on the same path should assist him to maintain and align all factors such as costing, innovation, distribution, and product quality and customer service as part of the supply chain strategy. What are the differences when looking for suppliers to meet cost standards versus quality standards? The quality of a product is usually lacking if costs is the only thing a company is focused on. Most companies who compete on costs are only focused at offering the lowest price possible. This strategy requires going to the cheapest suppliers rather than focusing on gig quality components.