What Effects the Bounce of a Dropped Ball

Aim The aim of this experiment is to investigate the efficiency of a bouncing ball, and the factors which affect its efficiency. Hypothesis If I increase the height from which a ball is dropped, then the bounce height will increase because it will increase the speed and create a larger impact, causing the ball to bounce higher then dropping it from a lower height. Materials 1. High bounce ball 2. Measuring tape 3. Tape 4. Wall Risk AssessmentH- Cutting yourself with the measuring tape C- Handle with care and ensure that it is locked Method 1. Hold the measuring tape with the 0 centimeter end on the floor. Then tape the measuring tape to a wall. 2. Hold the bottom of the high bounce ball in place with the 100 centimeter mark on the measuring tape. 3. Drop the ball and determine the total bounce height of the ball, which would be the distance from the surface to the bottom of the ball at the top of its bounce. . Continue till you have data for 3 tests. 5. Repeat steps 2-5 for drop heig hts 80 cm 60 cm 40 cm 6. Average all the data. Variables Independent variable = drop height Dependent variable = bounce height Controlled variables = ball, surface, measuring tool Data Table Height a Ball Bounced From Different Drop Heights DROP HEIGHT (CM) TEST 1TEST 2TEST 3AVERAGE 10050495150 8038394039 6031293030 4022202120 Graph

Enthalpy & Entropy

Experiment ENTHALPY AND ENTROPY OF ZINC WITH COPPER SULFATE The CCLI Initiative Computers in Chemistry Laboratory Instruction LEARNING OBJECTIVES The learning objectives of this experiment are to. . . ! ! determine changes in enthalpy and entropy of the reaction of zinc with copper sulfate using two methods: electrochemistry and calorimetry. compare the enthalpy values obtained by the two methods. BACKGROUND Thermodynamics is concerned with energy changes that occur in chemical and physical process es. The enthalpy and entropy changes of a system undergoing such processes are interrelated by the change in free energy, ?G, according to the equation ?G = ?H – T ? S (1) This investigation focuses on the reaction Zn(S ) + CuSO4(aq) Y ZnSO4(aq) + Cu(S ) (2) ?G will be calculated from the ? H and ? S values obtained electrochemically. The validity of Equation (1) will be tested by comparing the value of ? H obtained electrochemically with the value of ? H obtained calorimetrically f or the same reaction. The electrochemical method The electrochemical method offers simple and accurate means for the determination of thermodynamic quantities. A simple electrochemical cell is constructed in a Chem-Carrou-Cellâ„ ¢ plate as shown in Figure 1.Cu(S )/CuSO4 (aq) || Zn(S )/ZnSO4(aq) (3) Fi? G ure 1: Set-up for measuring E versus temperature. 1 The CCLI Initiative The overall galvanic cell reaction is Zn(S ) + Cu2+ (aq) Y Zn2+(aq) + Cu(S ) and it is essentially the same as that taking place in the calorimeter. The quantity of the electrical energy, F , produced or consumed during the electrochemical reaction is a constant measured per mole of electrons, and can be accurately measured. The free energy change, ? G , of an electrochemical reaction is related to the voltage, E, of the electrochemical cell by the equation (4) G where and = -nFE n (5) F = the number of moles of electrons transferred in a redox reaction. = Faraday's constant of 96,500 C/mole of electrons . Co mbining equations (1) and (5), and dividing both sides by the constant â€Å"n,† we obtain a linear relationship between the voltage change, ? E, and the enthalpy and entropy changes at different temperatures E = – IH + T ? S nF nF I (6) or E = IS (T) – IH nF (7) nF By measuring the voltage E, of our electrochemical cell, at several temperatures, we can obtain a plot of the voltage versus temperature. Assuming that ? H and ?S remain constant over a small temperature range, we can calculate the ? S and ? H from the slope and the intercept of the straight line respectively slope = IS nF (8) and Y-intercept = – IH nF (9) ?G can now be calculated by means of Equation (1). We can verify its value using Equation (5). Please note that in both cases, ? G must be calculated for the same temperature. If the calculations are done for 298 K (25  °C), we can also verify the experimental value of E ° for this temperature by employing the Nernst equation (7) E = E ° – RT ln [products ] nF [reactants ] 2 (10)The CCLI Initiative where E ° is the standard potential measured at 25  ° C and is 1. 100V for the cell under consideration. When the concentrations of the ZnSO4 and CuSO4 solutions are equal, the log term of the Nernst equation becomes zero. Under these conditions, the standard voltage, E °, of the cell is equal to the measured voltage, E The calorimetric method The ideal calorimeter is a perfectly insulated vessel which contains a large known weight of solution in perfect thermal contact with an accurate thermometer and a small reaction tube (Figure 2).When measured quantities of reactants are introduced into the reaction tube, the heat of reaction changes the temperature of the calorimeter solution. Figure 2. Diagram of Calorimeter The heat of the chemical reaction is given by the equation IH H n K W Ti Tf = (K + W)(Ti – Tf) n (11) is the heat of reaction at constant pressure. is the number of moles of a limiting re actant as expressed in the balanced equation. is the heat capacity of the calorimeter solution. is the heat capacity of the calorimeter. s the initial temperature of the calorimeter solution. is the final temperature of the calorimeter solution. The heat capacity of the calorimeter solution is obtained by multiplying the specific heat of the solution (3. 8 J g-1  °C-1 for CuSO4 ) by the weight of the solution in the calorimeter. W, the estimated cup heat capacity, is 30 J  °C-1 . 3 The CCLI Initiative SAFETY PRECAUTIONS Safety goggles must be worn in the lab at all times. Any skin contacted by chemicals should be washed immediately. BEFORE PERFORMING THIS EXPERIMENT . . . †¦ ou will need a MicroLAB program capable of: Part I – measuring voltages and temperatures and displaying them in the Graphing , Digital Display and Spreadsheet views. Use delta. G . experiment supplied by your instructor. Part II – collecting temperature readings as a function of time and d isplaying them in the Graphing, Digital Display and Spreadsheet views. Use heat of Solution from the Time and Temperature tab in the MicroLAB opening window. EXPERIMENTAL PROCEDURES Part I: Electrochemistry 1. Calibrate your Temperature probe at a minimum of three separate temperatures with ice-cold water and hot tap water. . Fill a 600 ml beaker three-quarters full of ice. Fill the rest of the beaker with cold tap water until the beaker is filled to one cm from the top. Stir the ice/water mixture to distribute the ice evenly. 3. Place the beaker on a hot plate — don't turn the heat on yet! Rest the Chem-Carrou-CellTM on top of the beaker so that the bottoms of the wells of the Cell are immersed in the ice/water mixture. Let the set-up stand for 15 minutes until the temperature stabilizes. 4. Pour about 5 ml of 0. 1 M KNO3 into the center well. Pour about 5 ml of 0. 0 M ZnSO4 into well #1 and about 5 ml of 0. 50 M CuSO4 into well #2. 5. With clean tweezers, take a s trip of f ilter paper and dip one end into the central well (where immersion in the KNO3 solution will hold one end); dip the other end into well #1. Repeat this procedure with another strip of filter paper, dipping the other end into well #2. This creates the salt bridge for your galvanic cell. 6. With clean tweezers take a zinc metal strip and sand it (on a piece of paper so as not to scratch the table top) to remove any oxide coating.Bend 2 cm of one end of the ? S trip and immerse it in the ZnSO4 solution (well #1). The rest of the metal strip (3cm) extends out to the edge of the cell and should be bent over the rim. Repeat the same procedure with the copper metal strip and place it in well #2. Later the electrical leads (alligator clips ) from the interface will be attached to the metal strips. 7. Fasten your temperature probe to the ring stand with a clamp and adjust the temperature probe such that its tip can be immersed in the central well (KNO3 solution) of the cell.It is assumed tha t the temperature of the ZnSO4 solution and CuSO4 solution will be very close to the temperature of the KNO3 solution throughout the experiment. 8. Start the computer program to monitor the temperature. 9. Read and record the temperature. Attach the alligator clips to the metal strips and take the voltage reading. If a negative number appears on the screen, reverse the wires. Disconnect the wires immediately after the reading is recorded. 10. Turn the hot plate onto high, Start the MicroLAB program, then the program will pause every five  °C to measure the voltage and temperature.When the Message window â€Å"Attach probes , Press ENTER to take a reading, then detach probes ’’ appears on the screen, connect the voltage leads to the 4 The CCLI Initiative appropriate metal tabs, make sure the voltage is stable, then press ENTER, and disconnect the voltage leads until the next reading is due. Prolonged connection of the wires will cause electric current to flow through the cell. This discharge will result in changes in concentrations of the solutions. Since the measured voltage depends on these concentrations, there will be an error in the voltage readings.Stop the program when the temperature reaches 40  °C. Part II: Calorimetry 1. Weigh a clean, dry 150 ml beaker on the top loading balance, then add 50 ml of 0. 5 M CuSO4 solution. Weigh the beaker a second time to determine the mass of the solution in the calorimeter. Nest the 150 ml beaker inside a 400 and 600 ml beaker, thread the stirring rod and temperature probe through the Styrofoam lid and position the lid on the inner beaker. The temperature probe should be as deep into the solution as possible but without strain. Let the apparatus stand ? so that the components attain the same temperature.Using the top loading balance, tare the plastic weighing boat, then weigh 0. 5 grams of zinc powder into a plastic weighing boat, noting the exact weight in your notes. Start the program and plot te mperature against time for several minutes. Add the zinc powder to the copper solution. Save the boat and any Zn suck to it for weighing at the end of the run. Stir thoroughly and watch the plot of temperature versus time until a well defined cooling trend is established. It is important that a rubber policeman be used continually to ensure that any residue produced (copper coated zinc powder) is broken up.Weigh the weighing boat on the analytical balance and obtain the amount of Zn added by difference, noting the exact weight in your notes. Print the graph of your data. From your plot of temperature vs. time, determine the initial and final temperatures and calculate the heat of reaction per mole of zinc. Compare this value with ? H obtained in Part I. DATA ANALYSIS Part I: Electrochemistry 1. 2. 3. 4. Column B of the spreadsheet displays voltage values of the cell in volts. Column C displays temperature readings in degrees Celsius.Use the Formula tool to convert these temperatures into Kelvin, then â€Å"click-drag † the formula to the D column, then the Y-2 Axis. Using the Analysis functions, construct a linear curve fit through the data. Using the linear curve fit equation, calculate intercept ( 2. 3. 4. 5. 6. 7. IH/n F ). IS from the slope ( IS /n F ) and IH from the Part II: Calorimetry 1. From your plot, determine the temperature of the copper sulphate solution before mixing (Ti) and the maximum temperature of the mixture (Tf). Using Equation (11), determine the enthalpy change, 5 2. IH, per mole of zinc added. The CCLI Initiative 6

Bridging the Gap

Bridging the Gap January 28, 2014 Poetry of the 17th century is unique because it is of a metaphysical nature and it is deeper in meaning that the courtly love poetry before its time. It focuses on love, death, and loss other than death such as innocence and material possessions. The seemingly imposable things such as the afterlife and Heaven are said to be metaphysical in nature and both subjects are present in the three selected poems for this paper. Ben Jonson exhibits grief upon the loss of his first daughter and his first son in the poems â€Å"On My First Son† and â€Å"On My First Daughter†, but his grief is displayed in different tones.Anne Bradstreet exhibits grief over the loss of her home and all of her material possessions in â€Å"Here Follows Some Verses Upon the Burning of Our House July 10th, 1666†, but her grief turns into a comforting tone as she realizes her true possessions are in Heaven, not on Earth. â€Å"Thou hast a house on high erect, f ramed by that mighty Architect, with glory richly furnished† (Ferguson, Salter, & Stallworthy, 2005, p. 467). The three chosen poems deal with loss and grief.The poet of each poem expresses religious beliefs in Heaven and the afterlife and a comforting tone is exhibited for the reader to find comfort in the possibility that a better life exists beyond life on Earth. Ben Jonson was a poet born in 1572 and died in 1637. His work is often considered classical dramatics. His poem â€Å"On My First Son† expresses sorrow for the death of his first son. The poem is an elegy which means the poem is a serious reflection and a mournful poem about the dead. This is a twelve line poem with six pairs of rhyming couplets. Line five is the most emotional line. â€Å"O could I lose all father now! † (Ferguson et al. p. 323). Jonson tries to see death as an escape from the world. There is a calmer tone later in the poem as the poet is speaking in a more positive mood, seeing his son as his finest creation. The poem is written from the 17th century England and childhood illnesses were often fatal. Hospitals, vaccinations against diseases, antibiotics and treatments were unknown during that time. Many children did not live very long. When they died, parents reacted to their death in a different manner than people in current society react to the death of a child. The poem is delivered in rhyming lines called couplets and it is addressed to the dead son.Metaphor is present when Jonson refers to his son as being lent to him. For seven years. â€Å"Seven years thou wert lent to me, and I thee pay exacted by thy fate, on the just day† (Ferguson et al. , p. 323). Jonson believes that all life is a gift from God, and now God is taking back his child at a young and tender age of seven. As Jonson grieves over his son, he also shows the reader how death is something to be envied. Perhaps death is something to look forward to. This feeling is explained in lines s even and eight when Jonson states â€Å"To have so soon scoped world’s and flesh’s rage, and, if no other miser, yet age† (Ferguson et al. p. 323). An escape from the turmoil that one encounters throughout life is escaped by death. Jonson also vows to not become too attached or to love someone too much in the future so he will not feel so much pain again. Jonson also wrote â€Å"On My First Daughter† which is an elegy about his first daughter who died at the age of six months old. In this poem, Jonson believes nothing lasts forever and death is inevitable. Written in the 17th century, childhood death was not uncommon. Jonson delivers sadness as well as a feeling of comfort and belief that the poet’s baby girl is in Heaven.A hidden message in this poem is that death is not the final destination. The religious thoughts throughout the poem offer peace and comfort about death and the afterlife. â€Å"Yet all Heaven’s gifts being Heaven’s due† (Ferguson et al. , p. 323) insinuates that nothing lasts forever and death is inevitable. Jonson sees his daughter’s death as if she belongs to God and now God has taken her back. This twelve line poem contains six pairs of rhyming couplets. Lines three and four demonstrate a rationalization of the death as well as the ability for Jonson to overcome his emotions more than a woman could. Yet all heaven’s gifts being Heaven’s due, it makes the father less to rue† (Ferguson et al. , p. 323). He also finds comfort in knowing he lost his daughter to death with her innocence intact. Because she died with her innocence, there is a special honor of believing she in honored in Heaven and Jonson finds comfort in the sad event of his daughter’s death. Jonson uses rationalism in his poems as he reasons with the death of his children. â€Å"On My First Daughter† has a different attitude and delivery from the attitude and delivery regarding his son’s death in â€Å"On My First Son†.He appears to accept his daughter’s death with less grief than his acceptance of his son’s death. The length of time he had with his daughter and his son could also determine the tone he took in each poem. He could have bonded with his 7-year-old son as where he did not bond with the 6-month-old daughter. He does however find comfort in believing both children are in Heaven and free from pain. He believes Heaven is a better place than living on Earth. Anne Bradstreet, born in 1612 and died in 1672, is the 17th century Puritan author of â€Å"Here Follows Some Verses Upon the Burning of Our House July 10th, 1616†.Her subjects within her poems were home, life, relationships, living, sorrow, and grief. Her faith and values are apparent throughout the poem. The rhyming of every two lines allows the reader to process the words before going to the next two lines. The nine six-line stanzas are written in plain style. The Puritan in Bradstreet preferred a plain style of writing that rarely included figurative language. She stressed simplicity, clarity of expression, the use of everyday words, and the implied metaphor even though most of her images and words are literal throughout her poem.The context of Bradstreet’s poem is the 17th century Puritan colonies in North America. The theme of the poem is that materials possessions are worthless and the only thing that is worthy is going to Heaven in the afterlife. The reader takes a journey through the descriptions of Bradstreet’s possessions before her true feelings are revealed regarding loss, material possessions, and a person’s salvation in Heaven. There are obvious sentence inversions to accommodate the demands of rhyme. This is present in the first line of the poem â€Å"In silent night when rest I took for sorrow near I did not look† (Ferguson et al. p. 466). The speaker becomes aware of her house burning down and s he informs her readers about the material objects in a material world. Pain and loss are explored while memories and fantasies about her home are revealed. â€Å"No pleasant tale shall e’er be told, nor things recounted done of old† (Ferguson et al. , p. 467). The statement reveals a woman mourning the material loss while also mourning the lost years of an imagined future in her house. The turning point in the poem occurs when the speaker is finished grieving over the ruins of her home.She begins to realize that she should focus on her home in Heaven and the beautiful afterlife she will have rather than her home on Earth. The last two lines of the poem express to the reader how the speaker truly feels. â€Å"My world no longer let me love, my hope and treasure lies above† (Ferguson et al. , p. 467). Bradstreet, like Jonson, finds comfort in believing in the afterlife and having faith that Heaven is where good and Holy people will spend eternity. Heaven, in both author’s beliefs, is a better place than living on Earth.The gift of Heaven through good works was a common belief during the 17th century. Jonson and Bradstreet both suffered a great loss. Jonson lost two children to death while Bradstreet lost her home and all of her possessions to a fire. They both grieved over their loss but in a different way. The end of each poem confirms the author’s religious beliefs that Heaven and the afterlife are better than life here on Earth. References Ferguson, M. , Salter, M. J. , & Stallworthy, J. (Eds. ). (2005). The Norton anthology of poetry (5th ed. ). New York, NY: W. W. Norton & Company.

Using Data to Make Decisions Research Paper Example | Topics and Well Written Essays - 500 words

Using Data to Make Decisions - Research Paper Example When it is necessary to reduce your workforce minimizing these actions through retraining, reassignment and reallocation can reduce the loss of employee’s intellectual capital. Critical knowledge must be retained within the company now more than ever. Career and succession plans should be developed for employees which will maximize the life of your employees and reduce productivity losses. Those company’s and managers which invest the time and capital in analytics are more able to meet workforce challenges and decision making demands with accuracy and competence (IBM Global Business Services). As a manager data should be considered a strategic asset and end user needs for analytics should be gathered through a clearly defined process (The Analytical SMB, 2012). Problems or situations that can be addressed through analytics include downsizing, recruiting, and retention. Knowing what your strengths and weaknesses are within your workforce allow you to make decisions quickly. Employee evaluations, prior attendance records and discipline records all become important data components in decision making processes. Career plans and tracks can assist in retention of valuable employees and understanding your company’s shortages will allow you to recruit man power in targeted areas. Results in any problem or situation are greatly improved when data collection includes many elements or facets. You should know and understand the needs of the business in order to decide what data needs to be collected.

Human development Essay Example | Topics and Well Written Essays - 500 words

Human development - Essay Example Everything that they have learned prior to adulthood essentially comes to fruition, making them an intelligent and decisive human being (Crandell & Zanden, 2009). My understanding of what it is to be an adult will change in different contexts in the sense that each human being, while going through roughly the same mental and physical changes, still has unique experiences. One adult is not entirely the same as another adult, and my understanding of what it is to be an adult will change with the knowledge of each individual. Research is important to the understanding of what it is to be a human being because humans are complex, ever-changing beings. We are not the same in adulthood as we are as infants or in childhood. As such, it is vital to understand human beings at each stage of their lives to know the types of changes that they go through and the experiences that they have. Furthermore, research allows us to discover and comprehend the changes that are not always apparent to the e ye.

Security Analysis and Portfolio Management Assignment

Security Analysis and Portfolio Management - Assignment Example It was originated in USA and the first credit rating agency was set up in New York. Credit rating can be defined as the way of evaluating the credit worth of a debtor. According to Moody’s a rating is an opinion on the future ability and legal obligation of the issuer to make timely payments of principal and interest on a specific fixed income security (Gurusamy, 2009, p.88-89). In general, the evaluation of the various securities is done by the credit rating agencies regarding the ability of the debtor to pay back the financial obligations and the probability of becoming a defaulter. In addition, credit rating is also used by the individuals and business ventures that purchase bonds which are issued by the government and companies in order to determine the possibility that company or the government will fulfill its bond obligations. The credit rating is based on the records of earlier repayment and borrowing. Apart from that, the credit rating is also done on the basis of the company’s availability of assets and liabilities. ... Some of the factors are convenient and some are inconvenient. A poor credit rating of the companies or the government indicates that they have high chances of not fulfilling the obligations. A credit rating also highlights about the credit quality and credit risk. The desirable characteristics of a credit rating are as follows: - Specificity: - The rating is in accordance with or specific to the debt instrument. Relativity: - The rating is based on the willingness and the relative capability of the instrument issuer to service the obligations of the debt specific to the terms of the contract. Guidance: - The credit rating is aimed to provide guidance to the investors regarding the credit risk associated with an investment. Qualitative and Quantitative: - In order to determine the credit grade, both qualitative as well as quantitative factors are used. The judgment made is however qualitative in nature. Not a Recommendation: - The rating does not provide any kind of recommendations to hold, buy or sell the instruments. This is because of the fact that credit rating does not take into consideration factors such as personal risk preferences, market prices and other factors that may impact the investment decision. Broad Parameters: - The credit rating is based on some of the parameters of information provided by the issuer and information collected from other sources. No Guarantee: - The rating as provided by the agency does not provide any assurance for the accuracy and completeness of the information regarding the factors of rating. The increasing importance and stupendous growth of crediting rating system has been mainly due to the globalization of the credit market, moving trends towards the privatization, due to the withdrawal

Examine Child Protection with a view to analysing and evaluating it in Essay

Examine Child Protection with a view to analysing and evaluating it in relation to Every Child Matters - Essay Example The program also intends to place the responsibility of child protection across all involved agencies. Finally, to prime the involved institutions to come up with solutions tailored to suit the unique circumstances of each case. Viewing this comprehensive child development program from a historical perspective gives us a better understanding of some of these objectives. For example, weak accountability and poor integration had for long been the bane of the support systems of yesteryears. Poor co-ordination and low standards of accountability had led to public distrust with these institutions. The various component agencies were not properly integrated which resulted in inefficiency and redundancy. For instance, â€Å"some children are assessed many times by different agencies and despite this may get no services. Children may experience a range of professionals involved in their lives but little continuity and consistency of support.† (Youth Justice: The Next Steps) Another area of concern with the older system was the general sense of apathy on part of child health-care professional. Unless health-care professionals approach their work with dedication and compassion, their effectiveness is always going to be sub-standard. Hence, the Every Child Matters program proposes ways in which a career in child-care is seen as attractive by the professionals. The cultural norms of the English society is as much to blame for this situation; as the roles assumed by child-care workers largely goes unappreciated and undervalued. This is reflected in the fact that for long the national vacancy rate in these services had hovered around the 10 percent mark, which is one of the highest in the industrial world. The relation between socio-economic background and child delinquency is an acknowledged fact. Hence, the government had realised that child protection should consider this important aspect of a child’s life as well. The

Primark and the 5 Gaps Model Essay Example | Topics and Well Written Essays - 3000 words

Primark and the 5 Gaps Model - Essay Example Primark is famous because they sell their items of clothing at budget end prices of the market. This is the main reason of success of Primark as they supply their sources cheaply. The clothing they have is of simple fabrics and designs. Sizes of the clothes are of the standards sizes and they make it in bulks with different types of varieties (About us- Primark, 2010). These are some of the brands of Primark (About us- Primark, 2010): Atmosphere — Women wear/footwear Active - menswear Backswing - Women and men’s sportswear Butler & Webb — formal menswear Cedar wood State — casual menswear Denim Co. — women wear, casual men's and children’s wear Early Days — baby wear (newborn-23mnths) Essentials - basic cheaper items Girl 2 Girl — young girls wear (2yrs-7yrs) Limited Edition — women wear Competitors of Primark The main competitors of Primark are all the fashion retail stores such as Marks and Spencer, John and Lewis, Zara ’s and other such brand retail stores. The difference between Primark and its competitors are that Primark has adopted a low cost strategy in fashion retailing and its competitors are high priced. ... The type of services provided by the organisation is at times very difficult to measure as service is an intangible thing (Wisniewski, 2001). There have been many definitions discussed on the term service quality and the most common ones are the service quality is the meeting of the expectation of the needs of the customers (Lewis and Mitchell, 1990). It should be strongly adhered by all organisations that they should constantly work upon improving their service quality so that they can attain a large customer base. The type of services provided by the organisation has to be valued against the perceived service by the customer. In other words it is the difference between the expectations of a customer of the service and the perceived service (Asubonteng et al., 1996). All service organisations need to match up to the expectation level of the customers so that they have a good perception level of the organisation. If the customers have expected vey high and the performance is not up t o the level, then dissatisfaction is observed from the customer (Parasuraman et al., 1985). Organisations need to constantly work upon improving their standards of service delivery so that they can attain a high level of customer satisfaction from their valuable customers (Dotchin and Oakland, 1994). Reasons for Primark’s Success In the midst of high competition in the fashion retail market, Primark has successfully managed to overcome their tough competitors such as Marks & Spencer, John & Lewis and other such fashion retail stores. The reasons for Primark’s success are as follows: Primark implemented the low cost strategy in their organisation and this strategy worked perfectly for them. In the time periods of high inflation, everyone has to work upon their budgets; they cannot

Longitudinal Strategic Development Study on easy Jet Essay

Longitudinal Strategic Development Study on easy Jet - Essay Example The first is termed as ‘dynamic packaging’ which includes selling the customers tour package which involves separate charges for flight and hotels. The next type is ‘Opaque Packaging’ where the customers pay a single price for both the flight and hotels. Easy jet provided multi language option for flights but not for the holiday packages though it wanted to make the concept of holiday packages internationalise and increase the market share. To enable this service IVIS group provided the airline with a team of technology consultant to assist the team of easy jet and work tighter to understand the online processes (IVIS Group, n.d). Strategic Development History The airline industry of Europe is regulated by the European Regions Airline Association which represents about 65 intra European airlines which carry 70.6 million passengers to about 426 destinations in 61 European countries (ERA, 2011). Some of leading airlines in Europe are Lufthansa, Ryanair’s and Air France-KLM which have the best starting position in Europe and Easy jet and British Airways are the potential followers (ESMT, 2008, p.10). The European airline industry has shown a steady growth in the past decades and had doubled in size since 1990. The growth of airline industry was mainly because of the growth of low cost carriers. The demand for air travels is still the same as it was in the year 2000, but with a dip in the market share. But the low cost carrier has grown widely with double digit rates and has captured a large part of the market share. From just merely 5% of market share in the year 2001 it has now come up to 32% in 2008. With a high market share these lo w cost airlines relay on the cost advantage and low ticket prices which helps them to access new and potential market and generate new traffic. Easy jet along with Ryanair respectively accounts for 43 and 65 million passengers and are larger than other established carriers. Despite the facts the European airline industry is fragmented (HHL, n.d, p.9). Easy jet airlines have experienced a strong growth in terms of revenue over the years. The passenger demand has increased on an average of about 59.5%. It has got a strong financial background as in the year 2002, easy jet balance sheet shown an excess balance of about 400 million pounds (Easy jet-a, 2002). Strategies Easy jet strategy is based on the six strengths that support the competitive, sustainable growth and scalability. Easy jet strategy, which it had been following from the past are the airlines commitment to safety and service to its customers, low fare structure, strong branding, low cost of unit, a strong corporate cultur e and its multi based network (Williamson, 2002). The company

Audit and Internal Control Essay Example | Topics and Well Written Essays - 1750 words

Audit and Internal Control - Essay Example A computer system is at risk of been accessed illegally and data that is held there within put at risk. Given the sensitive nature of accounting data, the finance director has asked for an audit report detailing the security status of the system. Data will be input in the computers from workstations, and there is risk of unauthorized access to this data at this point. Data from satellite stations will be transmitted through the internet, and there is the risk of this data getting accessed by unauthorized individuals either remotely or otherwise. The finance director has specifically asked for a description of the general controls that can be exercised to avert unauthorized access to the computer system from remote workstations. These may be the remote workstations of the company's staff or the remote workstation of a computer hacker. The director also asked for procedures that can be applied to avert unauthorized access to the computer through the service provider. Controls to be employed in the purchases and payroll systems over retrieval of information, input of transaction data and updating of standing data files has also been requested. It has been noted that a large number of unauthorized access to a company's computer system is from within, rather than from without (Wilkinson: 2009). What this means is that there are some members of the staff who are errant enough to access the computers of their employer without the relevant authorization. The reasons why they do this are varied. Some are interested in sabotaging the activities of the company while others are just curious about the contents of the computer. There are several procedures that have been developed that ensure that this does not happen. Use of Password and User ID Control Password is the most common form of control that is used to ensure that there is no unauthorized access to a computer and the computer system (Nikoltos: 2008). In this case, every user of the computer or system is given an identity, or ID. The ID might be his name or other such identifications. He accesses the system by using that ID, since it is the name that the system knows him with. A password is then given to each and every of these ids. The user is supposed to provide the computer with his identity and the accompanying password for him to be allowed access to the system. Every password is specific to a particular ID. A wrong combination of the two will not allow the user to gain access to the system (Nikoltos: 2008). When there is more than one user with identical names and information, a special ID called the User Specific ID is used (Marie: 2007). Windows will utilize Security ID or SID for each and every of those accounts (Marie: 2007). The best thing about this ID is that it is a very unique key. When a user is creating an account, the security identity is generated, giving all his details (Wilkinson: 2009). Passwords and user IDs have some strength that makes them effective in dealing with a remote unauthorized access. For starters, the computer system is set such that there is no access that can be permitted if the correct combination between ID and password is not made (Wilkinson: 2009). This makes it possible for the computer system to alert the administrator when an unauthorized access had been attempted. It is also very hard for a password to be replicated. The user can create a very

Nursing research Essay Example | Topics and Well Written Essays - 250 words - 50

Nursing research - Essay Example Mainz identifies structural indicators as those indicators that describe the nature and sum of resources that a healthcare facility utilizes in the delivery of services and programs with these indicators related to the availability of a presence of human resources and material resources that have the potential of improving the quality of care (524). In line with this, it is evident that one quality improvement measure in a healthcare facility is the structural component of the healthcare facility since the structure of the facility is important in providing quality services to patients. Consequently, potential indicators related to the healthcare facility’s quality improvement measure, which is structural in nature, range from the technology used by the facility to professionals working in the facility. Mainz identifies these potential indicators as the proportion of doctors to other specialists, the healthcare facilities access to specific technology such as MRI scans, and ac cess to particular units that promote the provision of quality care

Health Education and Technology Essay Example for Free

Health Education and Technology Essay According to Bastable, â€Å"Technology has had such an impact on workforce training that it has given birth to a new industry and a new set of buzz words that define an Information Age approach to staff education. † (2007, p. 548) Thus, the inclusion of technology early on, as in its integration to education, has been deemed necessary. However, due to the evolution of technology, curriculum design and implementation in the field of health education will undergo a series of changes and modifications. These various changes will be determined based on the outcomes of technological evolution, the perceived potential of technology to change the landscape of health education in the future, and the educational theories, principles, approaches, etc. developed by respected members of the academic institution through research studies. According to Iwasiw, Goldenberg, and Andusyszyn, â€Å"Curricuralists should gather data about technology and informatics for health care and education, as well as expected developments† (2008, p. 13) Based on pertinent information gathered by academicians, the focal point and foundations of curriculum design are expected to change. Apart from the traditional contents of the curriculum, the scope of curriculum design should be broadened in order to include the â€Å"e-health paradigm of heath care† (Iwasiw, Goldenberg, Andrusyszyn, 2008, p. 113), literacy in information technology, health education across disciplines, and health education in the changing world. In addition, due to the impact and contributions of technology to the field of health, allowing the course nursing informatics to become compulsory will help in opening up opportunities for the improvement of curriculum design through the undeviating inclusion of technology and informatics. When we think about it, making nursing informatics compulsory makes the course an important learning area or aspect of health education. Consequently, much needed attention will be diverted to the improvement of the course by making course objectives, contents, instructional processes, and so on, up-to-date. Thus, the quality of health education, due to its appropriateness with current technology, will also improve. Just as curriculum design changes due to the evolution of technology, the implementation of the curriculum during instruction is also expected to change. As Bradshaw and Lowenstein (2006) have discussed, the delivery of the curriculum as influenced not only by traditional concepts in education but also by technology â€Å"require organized and planned educational experiences that are guided to promote lifelong learning as well as individually motivational and experiential learning activities that involve a variety of experiential teaching methods† (p. 272). Due to the inclusion of technology in the curriculum, the process of instruction will become more complex such that the assessment of the students and the selection of instructional tools, methods, and approaches are not merely based on student interests, learning capacities, learning content, etc. but also on the kinds of technology that fits the curriculum content. (Bradshaw Lowenstein, 2006) In terms of the instruction, the instructional process is facilitated by the use of technology. However, when it comes to learning content, the integration of technological concepts become necessary. In addition, the scope of learning content also varies from time to time since available technological tools and devices intended to facilitate heath education and health care processes change over time. For these reasons, diversity and variation should be accepted and acknowledged by academic institutions since the curriculum design and the implementation of the curriculum shall change along with the evolution of technology along the way.

Entrepreneurship and Microfinance Impact on the Poor

Entrepreneurship and Microfinance Impact on the Poor Chapter One: Introduction Background Around the world economies have experienced high growth and financial systems have undergone major transformation, a significant number of people especially in the developing countries do not have access to finance. Policy makers have increasingly promoted the use of microfinance as a tool to eradicate poverty and implement financial inclusion strategies. Pakistan being a developing country is no exception to this, having a large number of people that are poor with limited recourse to livelihood. Though limited in its scope, microfinance in Pakistan has been able to bring some of the large number of unbanked people into the banking network and has also helped in improving their socioeconomic condition (SBP ILO, 2009). About 90 % of the people in developing countries lack access to financial services from institutes, either for credit or saving, which further fuels the â€Å"Vicious Cycle of Poverty† in Figure 1. A lack of assess to financial institutions also hinders the ability for entrepreneurs. Microfinance serves as a means to empower the poor and provides a valuable tool to assist economic development process. Pakistan is fourth most populous country in Asia and sixth in the world. Having an average annual growth rate of 2.02 percent the population of the country reached 160 million in 2007 as compared to 139 million in 2002. Two third of the population is living in rural areas and the working age population (15-60 years) is increasing which was 51% in 1998 and 57% in 2008 (SBP, 2008). In 2008, about 24% population is living under the line of poverty which was 34.46% in 2002. There is significant increase in economic growth and improvement in Social Sector Development. Now Pakistan has shifted from Low Human Development group to the category of Medium Human Development (Global Monitoring Report, 2007). Despite all these improvements, poverty is a major issue which every government is combating against. Pakistan is a country with high population growth and increasing ratio of labor force. According to Economic Survey 2007-08, Pakistan has 51.78 million active labor forces while 2.69 million out of this is unemployed. If we look unemployment gender wise, despite of women ratio of population which is 49.6%, ratio in labor force is only 25% (10.08 million out 51 million) of total labor force. Government of Pakistan has taken many steps to increase women participation in labor force, still women ratio is very less to over all labor force and it is not matching to world standards and trends about women participation in business and job opportunities (SBP, 2008). All these facts show potential to work in microfinance to encourage people and specially women to develop their own entrepreneur so that men in general and women specially can contribute a productive part of society to make it a sustainable. To combat unemployment, only big companies or public sector are not enough for job creation but it would be better if people start their own business for making society productive. Microfinance is being recognized by different researchers as an effective tool to fight poverty by providing financial services to those who do not have access to or are neglected by the commercial banks and financial institutions. Microfinance has been successfully implemented by Grameen Bank. Back to 1976, Mohammad Yunus took initiative of lending loans by developing solidarity group of women in Jobra village, Bangladesh. Many MFIs has adopted idea adding with new strategies and now serving poor in effective way. Now Garmeen Model is a successful approach of microfinance. Microfinance is being considered as one of the most essential and an effective driving force for poverty reduction and alleviation. Kashf case attracted me because Kashf believes in a world where financial inclusion is a possibility and where poor women are fully engaged in realizing the economic dreams of their families. Kashaf vision of â€Å"Financial Services for All† posits a miracle for transforming the role of women in society and for making a poverty free world a reality. Statement of Problem Although social entrepreneurship plays great role as looking to the world real and see clearly what is happening, feel responsibility for financially weak people and help them as much as they can. It is also a big challenge to the entrepreneurs and organizations that they should take steps to eliminate unbalance between different levels in society. In other way, this thought encouraged me to choose this problem. I think that empowerment of poor people by microfinance and with combination of micro entrepreneurship is a great idea. You can never help people just giving money. But you can help people giving them job and help to create their small businesses in order to optimize their share of production to the society. All these issues lead to research on this topic that how microfinance is contributing for entrepreneurship in low income communities of developing countries, how sustainable society is evolving as the result of doing own business in low income communities and how Kashf’s way of microfinance is supporting all of this process. Research Objectives To be meaningful, every work must have to formulate the objectives of the study (Mark Saunders, Philip Lewis, Andrian Tronhill, 2007). Although most of research has been done either microfinance or entrepreneurship separately. But in my opinion there is close relationship between microfinance and entrepreneurship. As social entrepreneurship is doing a lot for credit pool of MFIs with social services, micro entrepreneurship can be found in micro enterprise. As per research topic the objective is research on the issue that how do microfinance and entrepreneurship work for poverty alleviation and empowerment of poor. Research Questions The study was conducted with the guidance of the following questions. How microfinance is contributing for entrepreneurship? How do microfinance and entrepreneurship work for reduce poverty, empower poor in Pakistan? How do microfinance entrepreneurship work for sustainable development in Pakistan? Research Methodology The research methodology of this paper will be qualitative. My work is covering two main topics; entrepreneurship and microfinance with discussing three factors; poverty reduction, empowerment of poor and sustainable development. In this paper data collection techniques are used, interviews as primary source and internet, web pages, articles, annual reports, books etc.) as a secondary source. The research type will use deductive and empirical data will analyze by the help of conceptual framework, develop after literature review. Significance of The Study A lot of research is doing on Entrepreneurship and Social Entrepreneurship because it is emerging thread in business. On microfinance and entrepreneurship much research work has been while discussing in Grameen model. For both fields in terms of combining microfinance and entrepreneurship this research will lead a new horizon. It will also give a vision, to Kashf that how they can improve microfinance lending process, and other Microfinance institutions (MFIs) that how they can develop process in more effective way. Further, students, researchers in Microfinance field, NGO’s and Governmental organizations can extend research in this area to address the issue of poverty alleviation and empowerment of poor. Assumptions Limitations The assumption of this research is that all information, written in the reports, news, web page true and can be used fairly. The study does not cover all the aspects that the promotion of microfinance requires. It was difficult to organize interviews at large scale from borrowers due to distance problem between Pakistan and The Netherlands and this can reflect limited information about micro entrepreneurship. I primarily focused on microfinance and entrepreneurship role in reduce poverty and empower people. Organization of Study The thesis will consists of six chapters and will be organized in the following manners: Chapter One: Introduction: Briefly introduces the background information of the study. In addition, it consists of, statement of the problem, research objectives, and research questions to be addressed, significance of the study, research methodology, scope and limitation of the study. Chapter Two: Literature Review: Describe different theories and readers will look on previous research on the research topic. Also, discuss microfinance, its different models and how microfinance contributes in poverty alleviation, and theories about entrepreneurship and social entrepreneurship. Chapter Three: Theoretical Framework and Research Methodology: It will be building a theoretical framework that will use while analyzing empirical data. Chapter Four: Empirical Findings: It will present empirical data collect through borrower’s interviews and Kashf’s administration. Empirical daa is including facts and figure about poverty, unemployment, economy and microfinance. There is also detail information about Kashf Foundation. Chapter Five: Analysis of Data and Interpretation: It will present analysis regarding need of interactive strategy of microfinance and entrepreneurship, social services and intermediation by Kashf and sustainability issue. Chapter Six: Conclusions: Finally findings and conclusions will be put in the light of previous discussions. Chapter Two: Literature Review 2.1 Introduction The extent to which microfinance, entrepreneurship and sustainability are interrelated is dependent on the extent to which it addresses the economic development process. Yunus (1994), claims, â€Å"If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power.† Credit invested in an income-generating enterprise as working capital or for productive assets leads to establishment of a new enterprise or growth of an existing one. Profit from the enterprise provides income, and a general strengthening of income sources. A variety of financial institutions, worldwide, have found ways to make lending to the poor sustainable and to build on the fact that even the poor self-employed repay their loans and seek savings opportunities. The challenge is to build capacity in the financial sector drawing on lessons from international best practices in micro, small enterprises and rural finance. The extent to which microfinance, entrepreneurship and sustainability are interdependent is becoming increasingly recognized by experts in their respective fields of work, associated with economic development. Over 500 million poor people around the world run profitable microenterprises and often cite credit as the primary constraint to business growth (IFC, 2002). Robinson (2002), a prominent expert in the field of microfinance, notes that â€Å"The formal sector has begun to realize that financing the poor can be both economically and socially profitable.† 2.2 What is Microfinance? Poor people are not able to access loans from commercial banks normally because of lack in guarantee and collateral. But there are also many other reasons involved for which commercial banks were not willing to finance poor. These reasons are included that poor have less education, experience and training, high expenses on transactions of small loans and lower rate of profit. This situation resulted in emerging the idea of micro lending and microfinance. Microfinance, therefore, a way to finance people, those have no collateral or any property for guarantee. Microfinance is a way of financing to poor for their business, to alleviate their poverty, empowering them, giving social benefits on sustainable way. Due to microfinance, there are many possibilities have emerged including extending markets, reducing poverty and fostering social change (Agion Morduch, 2005, pp.3). But there is general concept that microfinance is just lending loan to poor but as I mentioned that microfinance is no more only loans but covering the issues of poverty alleviation, putting social impact on poor and educating poor to savings. Therefore, MFIs, today, not only NGOs but serving as a complete banking system. This discussion lead to me that microfinance is a form of financial services for poor to help them for their business activities by giving micro credit. There is no one universal accepted definition of microfinance as different related variables like poverty, lone size, the poor and the poverty line carry different meanings in different countries. Different authors have defined the term in different ways. According to CGAP, Access to financial services puts power into the hands of poor people. Evidence shows that when poor people have financial services, they use their savings or loans to improve their families’ lives in a variety of ways: sending their children to school, buying better medicines and more nutritious food, fixing a leaky roof, meeting social and cultural obligations like paying weddings and funerals, and building income generating potential by investing in business (CGAP 2007). Microfinance has evolved as an economic development approach intended to benefit low-income women and men. The term refers to the provision of financial services to low-income clients, including the self employed (Ledgerwood, 2000, pp.1). While according to ADB (2008) Microfinance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their microenterprises. These definitions are elaborating that microfinance is a financial services but designed specifically for poor to improve their lives in sustainable way. 2.2.1 Microfinance Activities Economic activities are based upon sellers and buyers and their capacity. Sellers, before market their product, look at buyer intention and capacity. On the other hand, banking activities depend on both sellers and buyers. Financial institutions/lenders finance both sellers and buyers for their activities and commercial banks invested in projects at large scale while with this, banks invested in consumer finance also. Usually MFIs don’t invest in consumer finance, but give finance only for micro enterprise. MFIs encourage people to improve their standards by doing businesses and earning from them and this is a consistent and sustainable way. In fig (2), microfinance is dedicated only to poor and explicitly for business activities. But with this, there are some indirect impacts of microfinance on the micro borrower which are alleviation of poverty, improvement in healthcare, increase in literacy and other social impacts. These figures are taken from Ledgerwood, 2000. Figure 1: Economic Activity by Commercial Banking Figure 2: Economic Activity by MFIs There are many activities and characteristics are included in microfinance. Some are (Ledgerwood, 2000, pp.1): Small and short term loans Social collateral rather than financial collateral Access to larger amount of loan if repayment performance is positive Search and access the real poor and their business demand Continuous monitoring of business. Higher interest rates on loan due expensive financial transactions and risk factor. Easy way to access finance, therefore not too much paper work, and easy and short procedures. Saving Services and training services to borrower’s development. Literacy training to borrowers so that they can come up with competence to daily business problems and its solutions. Health care, social services and other skill training services to provide borrower a sustainable base for their business development. 2.3 Microfinance A Developmental Tool Due to lack of financial resources in developing countries, people from low income communities while having innovative idea for their business, even as shop keeper or house hold products manufacturer, they can’t implement their ideas. This low economic activity in low income communities due to lack of financial resources lead them to more poverty and poor life standards. Generally financial services cover savings and credit activities and there is same concept about MFIs. But according to Ledgerwood (2000), MFIs work for general financial services with this they provide insurance and payment services to their clients. But important aspect of MFIs is not only financial intermediation but also providing social intermediation and social services to their clients. Social intermediation and social services contain many activities including trainings, management development, and financial literacy activities. Furthermore, many MFIs, arrange get together where experienced people guid e others, where they give useful suggestions, tips and other tactics for their business. Microfinance is providing financial services along with social services. Normally, social services are not applicable in general banking system. So, microfinance is not simply banking system but development tool, combining both financial and social intermediation (Ledgerwood, 2000). 2.3.1 Different Services by MFIs Financial Intermediation The primary objective of MFIs is financial intermediation because without loan/money social intermediations can not work. As prior discussions that poor face barriers to access finance from general financial service institutions. In this regard, MFIs become a bridge to access finance and in result to poverty alleviation, health care and education literacy (Ledgerwood, 2000). MFIs provide many financial services including credit, savings, insurance credit cards, payment services etc. It is not necessary that every MFI should facilitate their customers by all these services but MFIs can facilitate anyone of these services or all. The choice of which financial services to provide and the method of providing these services depend on the objectives of MFI, the demands of its target market and its institutional structure (Ledgerwood 2000, pp.66). Social Intermediations Social intermediations for individual whose social and economic disadvantages place them beyond the frontier of formal finance (Von Pischke 1991). A successful financial intermediation is often accompanied by social intermediation. It covers the issues of group formation, leadership training and cooperative learning, is secondary role of microfinance for borrowers of MFIs. Development in Social capital is a basic ingredient of sustainable development in poor’s life and especially in society. Social intermediation is process of building the human and social capital required by sustainable financial intermediation for poor (Ledgerwood 2000, pp.64). Now question rise, how social capital be acquire and strengthen? Social capital is actually links between clients of a group and multiple groups, and between MFIs and borrowers. These links establish on the basis of strong foundation of trust and cooperation (Agion Morduch, 2005). The ratio of social capital will increase with increase in business activities among members, and financial transaction between lender and borrowers. It is normally developed through group activities but there are other ways to develop it by individually. In group social intermediation, activities perform inside the group with some help from outside to develop institutional capacity and human resource. In group, most of members belong from remote areas, having less literate and experience about business and financial transaction. So from group formation to selecting leader, developing networks and working mutually, MFIs support borrower to deal with these issues. Therefore, these members need training in record keeping, book keeping, accounting, training about business activities and tactics, and negotiation skills (Ledgerwood,2000). Enterprise Development Services Micro finance institutions (MFIs), not all, support to borrowers, either in group or individual in different enterprise development services like marketing, business and accounting training etc. This service can be divided in to two parts, enterprise formation and enterprise transformation. In enterprise formation, MFIs provide technical support to group or individual in start up of business, development and maturing ideas and maturing the skills. During in transformation of enterprise, MFIs arrange trainings for their borrowers, workshops and get together for developing latest skills in their business area (Ledgerwood, 2000). Figure 3: Minimalist and Integrated Approaches to Microfinance (Ledgerwood, 2000, pp.65) Minimalist Approach Integrated Approach One-missing piece Financial and non financial Credit Services Financial Intermediation Working Capital Fixed asset loans Savings Insurance Social Intermediation Group formation Leadership training Cooperative learning Social Services Education Health and Nutrition Literacy training Enterprise Development Service Marketing Business training Production training Social Services Microfinance practitioners define that, poverty can be addressed by financing poor for productive activities which in result comes up to their access to life necessities. But financial lending is only a one tool to poverty alleviation. Poor needs more than microfinance to address the problems of poverty and accessibility to other life needs like food, health, family planning, education, social support network and so on. In Ledgerwood (2000) MFIs serve to their clients with additional social services with financial intermediation. The best way to contact with their clients is in the form of group, that is the easy way to literate them, giving health care and other facilities. So in this way, MFIs would positive effect in the life of poor by offering financial services with supportive services. These supportive services, actually, play important role in sustainable human development and livelihood of the poor (Khan, Rahman, 1998). Social service should not implicate with financial or social intermediation because financial intermediation is primary service providing by MFIs. That means, there should be no additional cut off from loans in account social service but it should be provide by secondary means or by subsidies (Ledgerwood, 2000). 2.4 Microfinance Models The term model refers to â€Å"service delivery methods and microfinance products†. There are now nearly 70 million poor people who are getting benefits from 2500 MFIs in over 100 countries by microfinance (Sengupta, Aubuchon (2008). The poor’s conditions are different in different countries in world. These conditions are related to social, ideological and political issues (Weiss, Montgomery, 2004). Therefore, there are some distinctive differences between approaches and motive of microfinance. I will see briefly two approaches, which is very famous Grameen Model, originated from Bangladesh and other is Banco Sol Model, Bolivia. 2.4.1 Grameen Model In Grameen model, primary unit to whom lending fund is a group of 5 members that organize and apply for loan. In first stage loan is granted for two members to invest in their business. If these two members become successful to repay amount, then four to six weeks later, next two members are granted for loan. Last one member will be eligible for loan if previous two repay loan successfully. Repayment of loan open door for next loan and then go on if all members repay loan successfully. If anyone of group member will default in their loan, whole group will disqualified for further loan. Each group has its own president and secretary to coordinate all activities among their own group and to communicate and coordinate with other groups. Eight groups are then organized at center level, by which a bank officer deal with these all eight groups. This center of eight groups has its own center chief and center group leader (Khan, Rehman, 2007). According Sengupta, Aubuchon (2008), first time, bank granted loan $100 and bank require to repayment of 10 percent amount, at rate of per annum, weekly. This repayment ensures to user for loan security, and also encourages them for savings. Along with five percent of loan deposited in group account for emergency and social need. For example, in case of need of health care of any one member, in case of emergency, this five percent deposit will be use. A unique and innovative approach of group lending is used in Garmeen Model. As Sengupta, Aubuchon (2008) described that group lending have many benefits. First, group usually organize in members who are neighbor to each other, those can understand each other well and recognize their needs. Second, if anyone of group member will not present in group meeting, leader or other member can pay its installment. We can say that there is a kind of mutual understanding between all members. Third, in south Asia generally, and in Bangladesh specially, there are social pressures among members of society with social bindings with them. If one member of group will not pay even one installment, social pressure will be levied from all eight groups on this member and this reduces the risk factor. 2.4.2 Banco Sol Model Grameen model of microfinance emphasize on lending to villagers and keep loan lending on in smaller amount. The other core concept of model is formation of groups and these groups are eligible to take loan, no option of loan for individuals. Idea of progressive lending introduced to lend loan to individuals with group lending (Agion Morduch, 2005, pp.119). In this model after completion of every repayment schedule the amount of loan increased. But other characteristics of Grameen model (Group lending) are included in this method, like targeting to poor, women, group formation, and public payment. No doubt, progressive lending is an extension of group lending but now many MFIs are adopting this approach. In this model of Progressive lending, microlenders are flexible about collateral and lend loan to group with individuals also. This method is very helpful in areas with low population densities or highly diverse population where group forming is not so easy due to different ratio of safe and risky borrowers. In Bolivia, there was different situation when populist regime left government and there was high ratio of unemployment in urban areas. To come to fulfill the need of time, Banco Sol started operations in microfinance with progressive lending. Therefore we can say that microfinance approaches are evolved due to different political, ideological and social conditions. In Weiss Montgomery (2004, pp.3) Microfinance in Latin America developed under quite different conditions. In Bolivia, a collapsing populist regime led to widespread unemployment. Banco Sol, a pioneering microfinance institution in the region, developed to address the problem of urban unemployment and provide credit to the cash-strapped informal sector. The notion of commercial profitability was embraced relatively early in this approach. 2.5 Empowerment Poverty effects not only on individual’s life but also on society as a whole. Poverty is one of the main reasons in cause of less empowerment of poor especially in developing countries. Empowerment is a broad concept to define because there are many elements involve in it. These elements influence by including political, social and power system in the country. Empowerment covers many issues and when there is discussion on empowerment it includes many elements. These elements are, self-strength, control, self-power, self reliance, own choice, life of dignity, fighting for rights, independence, decision making, being free, capability , access to basic human needs etc.(PREM,WB, 2002). Misra (p.3) describes empowerment as a power to the people and self governance. He define that Empowerment builds self-reliance and strength in women, preparing them towards gathering the ability to determine the choice of life. This adds to the command over resources outwit insubordination and signify their social role. Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with little or no power gain the power and ability to make choices that affect their lives. Due to different social, political, economical conditions, we can not define a one definition for empowerment. According to Batliwala (Makombe, 2006, p.52), empowerment mean, take control over material assets, intellectual resources, and ideology. The material assets over which control can exercised may be physical, human, or financial, as land water, forests, people’s bodies and labor, money and access to money. Intellectual resources include ideas and knowledge information. Control over ideology signifies the ability to generate, propagate, sustain, and institutionalize specific sets beliefs, values, attitudes, and behavior-virtually determining how people perceive and function within a given socio-economic and political environment. Empowerment is the expansion of assets and capabilities of poor people to participate in negotiate with, influence, control, and hold accountable institutions that affect their lives. (PREM, WB 2002, p.11) define that A strategy for empowerment is taken at individual, government, civil society and private sector level. Usually these efforts lead to empower people in context of sharing of power, freedom of information, access to resources and health and education services. These strategies normally share four types of elements: First, Access to information, its mean every citizens including poor have direct access to information because information is power. Second, Inclusion/participation, that’s mean there should be opportunities for poor that they can participate in decision making and they should be included in all financial and political policies. Third is accountability, that’s mean officials, public servants, private actors should be accountable not only to some specific institutions but to their citizens for performance. Fourth and last one Local organizational capacity, its mean that people can work together, organize themselves, mobilize and utilize resources and solve problem at community level (PREM, WB (2002). 2.6 Entrepreneurship It is one of the most widely used terms in business, management, economics and other related fields. One of important thing is that entrepreneurship has different meaning for different people, some use it in the meaning of innovation, some use for creativity, risk taking, leadership, and profit maximization or in social context, and some consider it as start up of business, new production methods and many other different meanings. Davidsson, (2004) describes it that entrepreneurship is rich phenomenon which makes it a resourceful field. While defining entrepreneurship, I consider some school of thoughts that have major role to define this field. According to Schumpeter school of thought (Swedburg, 2000), Entrepreneurship is about innovation in organizational process, thinking up new combination, entrepreneurial behavior and motivation of entrepreneurs. While according to Gartner (Thornton, 1999), entrepreneurship is about creation of new organization or new startup, creating values and entrepreneur mean owner-manager. In Krizner’s view, entrepreneurship is searching opportunities and exploiting them so it reflects towards the alertness capability of entrepreneur towards profit opportu Entrepreneurship and Microfinance Impact on the Poor Entrepreneurship and Microfinance Impact on the Poor Chapter One: Introduction Background Around the world economies have experienced high growth and financial systems have undergone major transformation, a significant number of people especially in the developing countries do not have access to finance. Policy makers have increasingly promoted the use of microfinance as a tool to eradicate poverty and implement financial inclusion strategies. Pakistan being a developing country is no exception to this, having a large number of people that are poor with limited recourse to livelihood. Though limited in its scope, microfinance in Pakistan has been able to bring some of the large number of unbanked people into the banking network and has also helped in improving their socioeconomic condition (SBP ILO, 2009). About 90 % of the people in developing countries lack access to financial services from institutes, either for credit or saving, which further fuels the â€Å"Vicious Cycle of Poverty† in Figure 1. A lack of assess to financial institutions also hinders the ability for entrepreneurs. Microfinance serves as a means to empower the poor and provides a valuable tool to assist economic development process. Pakistan is fourth most populous country in Asia and sixth in the world. Having an average annual growth rate of 2.02 percent the population of the country reached 160 million in 2007 as compared to 139 million in 2002. Two third of the population is living in rural areas and the working age population (15-60 years) is increasing which was 51% in 1998 and 57% in 2008 (SBP, 2008). In 2008, about 24% population is living under the line of poverty which was 34.46% in 2002. There is significant increase in economic growth and improvement in Social Sector Development. Now Pakistan has shifted from Low Human Development group to the category of Medium Human Development (Global Monitoring Report, 2007). Despite all these improvements, poverty is a major issue which every government is combating against. Pakistan is a country with high population growth and increasing ratio of labor force. According to Economic Survey 2007-08, Pakistan has 51.78 million active labor forces while 2.69 million out of this is unemployed. If we look unemployment gender wise, despite of women ratio of population which is 49.6%, ratio in labor force is only 25% (10.08 million out 51 million) of total labor force. Government of Pakistan has taken many steps to increase women participation in labor force, still women ratio is very less to over all labor force and it is not matching to world standards and trends about women participation in business and job opportunities (SBP, 2008). All these facts show potential to work in microfinance to encourage people and specially women to develop their own entrepreneur so that men in general and women specially can contribute a productive part of society to make it a sustainable. To combat unemployment, only big companies or public sector are not enough for job creation but it would be better if people start their own business for making society productive. Microfinance is being recognized by different researchers as an effective tool to fight poverty by providing financial services to those who do not have access to or are neglected by the commercial banks and financial institutions. Microfinance has been successfully implemented by Grameen Bank. Back to 1976, Mohammad Yunus took initiative of lending loans by developing solidarity group of women in Jobra village, Bangladesh. Many MFIs has adopted idea adding with new strategies and now serving poor in effective way. Now Garmeen Model is a successful approach of microfinance. Microfinance is being considered as one of the most essential and an effective driving force for poverty reduction and alleviation. Kashf case attracted me because Kashf believes in a world where financial inclusion is a possibility and where poor women are fully engaged in realizing the economic dreams of their families. Kashaf vision of â€Å"Financial Services for All† posits a miracle for transforming the role of women in society and for making a poverty free world a reality. Statement of Problem Although social entrepreneurship plays great role as looking to the world real and see clearly what is happening, feel responsibility for financially weak people and help them as much as they can. It is also a big challenge to the entrepreneurs and organizations that they should take steps to eliminate unbalance between different levels in society. In other way, this thought encouraged me to choose this problem. I think that empowerment of poor people by microfinance and with combination of micro entrepreneurship is a great idea. You can never help people just giving money. But you can help people giving them job and help to create their small businesses in order to optimize their share of production to the society. All these issues lead to research on this topic that how microfinance is contributing for entrepreneurship in low income communities of developing countries, how sustainable society is evolving as the result of doing own business in low income communities and how Kashf’s way of microfinance is supporting all of this process. Research Objectives To be meaningful, every work must have to formulate the objectives of the study (Mark Saunders, Philip Lewis, Andrian Tronhill, 2007). Although most of research has been done either microfinance or entrepreneurship separately. But in my opinion there is close relationship between microfinance and entrepreneurship. As social entrepreneurship is doing a lot for credit pool of MFIs with social services, micro entrepreneurship can be found in micro enterprise. As per research topic the objective is research on the issue that how do microfinance and entrepreneurship work for poverty alleviation and empowerment of poor. Research Questions The study was conducted with the guidance of the following questions. How microfinance is contributing for entrepreneurship? How do microfinance and entrepreneurship work for reduce poverty, empower poor in Pakistan? How do microfinance entrepreneurship work for sustainable development in Pakistan? Research Methodology The research methodology of this paper will be qualitative. My work is covering two main topics; entrepreneurship and microfinance with discussing three factors; poverty reduction, empowerment of poor and sustainable development. In this paper data collection techniques are used, interviews as primary source and internet, web pages, articles, annual reports, books etc.) as a secondary source. The research type will use deductive and empirical data will analyze by the help of conceptual framework, develop after literature review. Significance of The Study A lot of research is doing on Entrepreneurship and Social Entrepreneurship because it is emerging thread in business. On microfinance and entrepreneurship much research work has been while discussing in Grameen model. For both fields in terms of combining microfinance and entrepreneurship this research will lead a new horizon. It will also give a vision, to Kashf that how they can improve microfinance lending process, and other Microfinance institutions (MFIs) that how they can develop process in more effective way. Further, students, researchers in Microfinance field, NGO’s and Governmental organizations can extend research in this area to address the issue of poverty alleviation and empowerment of poor. Assumptions Limitations The assumption of this research is that all information, written in the reports, news, web page true and can be used fairly. The study does not cover all the aspects that the promotion of microfinance requires. It was difficult to organize interviews at large scale from borrowers due to distance problem between Pakistan and The Netherlands and this can reflect limited information about micro entrepreneurship. I primarily focused on microfinance and entrepreneurship role in reduce poverty and empower people. Organization of Study The thesis will consists of six chapters and will be organized in the following manners: Chapter One: Introduction: Briefly introduces the background information of the study. In addition, it consists of, statement of the problem, research objectives, and research questions to be addressed, significance of the study, research methodology, scope and limitation of the study. Chapter Two: Literature Review: Describe different theories and readers will look on previous research on the research topic. Also, discuss microfinance, its different models and how microfinance contributes in poverty alleviation, and theories about entrepreneurship and social entrepreneurship. Chapter Three: Theoretical Framework and Research Methodology: It will be building a theoretical framework that will use while analyzing empirical data. Chapter Four: Empirical Findings: It will present empirical data collect through borrower’s interviews and Kashf’s administration. Empirical daa is including facts and figure about poverty, unemployment, economy and microfinance. There is also detail information about Kashf Foundation. Chapter Five: Analysis of Data and Interpretation: It will present analysis regarding need of interactive strategy of microfinance and entrepreneurship, social services and intermediation by Kashf and sustainability issue. Chapter Six: Conclusions: Finally findings and conclusions will be put in the light of previous discussions. Chapter Two: Literature Review 2.1 Introduction The extent to which microfinance, entrepreneurship and sustainability are interrelated is dependent on the extent to which it addresses the economic development process. Yunus (1994), claims, â€Å"If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power.† Credit invested in an income-generating enterprise as working capital or for productive assets leads to establishment of a new enterprise or growth of an existing one. Profit from the enterprise provides income, and a general strengthening of income sources. A variety of financial institutions, worldwide, have found ways to make lending to the poor sustainable and to build on the fact that even the poor self-employed repay their loans and seek savings opportunities. The challenge is to build capacity in the financial sector drawing on lessons from international best practices in micro, small enterprises and rural finance. The extent to which microfinance, entrepreneurship and sustainability are interdependent is becoming increasingly recognized by experts in their respective fields of work, associated with economic development. Over 500 million poor people around the world run profitable microenterprises and often cite credit as the primary constraint to business growth (IFC, 2002). Robinson (2002), a prominent expert in the field of microfinance, notes that â€Å"The formal sector has begun to realize that financing the poor can be both economically and socially profitable.† 2.2 What is Microfinance? Poor people are not able to access loans from commercial banks normally because of lack in guarantee and collateral. But there are also many other reasons involved for which commercial banks were not willing to finance poor. These reasons are included that poor have less education, experience and training, high expenses on transactions of small loans and lower rate of profit. This situation resulted in emerging the idea of micro lending and microfinance. Microfinance, therefore, a way to finance people, those have no collateral or any property for guarantee. Microfinance is a way of financing to poor for their business, to alleviate their poverty, empowering them, giving social benefits on sustainable way. Due to microfinance, there are many possibilities have emerged including extending markets, reducing poverty and fostering social change (Agion Morduch, 2005, pp.3). But there is general concept that microfinance is just lending loan to poor but as I mentioned that microfinance is no more only loans but covering the issues of poverty alleviation, putting social impact on poor and educating poor to savings. Therefore, MFIs, today, not only NGOs but serving as a complete banking system. This discussion lead to me that microfinance is a form of financial services for poor to help them for their business activities by giving micro credit. There is no one universal accepted definition of microfinance as different related variables like poverty, lone size, the poor and the poverty line carry different meanings in different countries. Different authors have defined the term in different ways. According to CGAP, Access to financial services puts power into the hands of poor people. Evidence shows that when poor people have financial services, they use their savings or loans to improve their families’ lives in a variety of ways: sending their children to school, buying better medicines and more nutritious food, fixing a leaky roof, meeting social and cultural obligations like paying weddings and funerals, and building income generating potential by investing in business (CGAP 2007). Microfinance has evolved as an economic development approach intended to benefit low-income women and men. The term refers to the provision of financial services to low-income clients, including the self employed (Ledgerwood, 2000, pp.1). While according to ADB (2008) Microfinance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their microenterprises. These definitions are elaborating that microfinance is a financial services but designed specifically for poor to improve their lives in sustainable way. 2.2.1 Microfinance Activities Economic activities are based upon sellers and buyers and their capacity. Sellers, before market their product, look at buyer intention and capacity. On the other hand, banking activities depend on both sellers and buyers. Financial institutions/lenders finance both sellers and buyers for their activities and commercial banks invested in projects at large scale while with this, banks invested in consumer finance also. Usually MFIs don’t invest in consumer finance, but give finance only for micro enterprise. MFIs encourage people to improve their standards by doing businesses and earning from them and this is a consistent and sustainable way. In fig (2), microfinance is dedicated only to poor and explicitly for business activities. But with this, there are some indirect impacts of microfinance on the micro borrower which are alleviation of poverty, improvement in healthcare, increase in literacy and other social impacts. These figures are taken from Ledgerwood, 2000. Figure 1: Economic Activity by Commercial Banking Figure 2: Economic Activity by MFIs There are many activities and characteristics are included in microfinance. Some are (Ledgerwood, 2000, pp.1): Small and short term loans Social collateral rather than financial collateral Access to larger amount of loan if repayment performance is positive Search and access the real poor and their business demand Continuous monitoring of business. Higher interest rates on loan due expensive financial transactions and risk factor. Easy way to access finance, therefore not too much paper work, and easy and short procedures. Saving Services and training services to borrower’s development. Literacy training to borrowers so that they can come up with competence to daily business problems and its solutions. Health care, social services and other skill training services to provide borrower a sustainable base for their business development. 2.3 Microfinance A Developmental Tool Due to lack of financial resources in developing countries, people from low income communities while having innovative idea for their business, even as shop keeper or house hold products manufacturer, they can’t implement their ideas. This low economic activity in low income communities due to lack of financial resources lead them to more poverty and poor life standards. Generally financial services cover savings and credit activities and there is same concept about MFIs. But according to Ledgerwood (2000), MFIs work for general financial services with this they provide insurance and payment services to their clients. But important aspect of MFIs is not only financial intermediation but also providing social intermediation and social services to their clients. Social intermediation and social services contain many activities including trainings, management development, and financial literacy activities. Furthermore, many MFIs, arrange get together where experienced people guid e others, where they give useful suggestions, tips and other tactics for their business. Microfinance is providing financial services along with social services. Normally, social services are not applicable in general banking system. So, microfinance is not simply banking system but development tool, combining both financial and social intermediation (Ledgerwood, 2000). 2.3.1 Different Services by MFIs Financial Intermediation The primary objective of MFIs is financial intermediation because without loan/money social intermediations can not work. As prior discussions that poor face barriers to access finance from general financial service institutions. In this regard, MFIs become a bridge to access finance and in result to poverty alleviation, health care and education literacy (Ledgerwood, 2000). MFIs provide many financial services including credit, savings, insurance credit cards, payment services etc. It is not necessary that every MFI should facilitate their customers by all these services but MFIs can facilitate anyone of these services or all. The choice of which financial services to provide and the method of providing these services depend on the objectives of MFI, the demands of its target market and its institutional structure (Ledgerwood 2000, pp.66). Social Intermediations Social intermediations for individual whose social and economic disadvantages place them beyond the frontier of formal finance (Von Pischke 1991). A successful financial intermediation is often accompanied by social intermediation. It covers the issues of group formation, leadership training and cooperative learning, is secondary role of microfinance for borrowers of MFIs. Development in Social capital is a basic ingredient of sustainable development in poor’s life and especially in society. Social intermediation is process of building the human and social capital required by sustainable financial intermediation for poor (Ledgerwood 2000, pp.64). Now question rise, how social capital be acquire and strengthen? Social capital is actually links between clients of a group and multiple groups, and between MFIs and borrowers. These links establish on the basis of strong foundation of trust and cooperation (Agion Morduch, 2005). The ratio of social capital will increase with increase in business activities among members, and financial transaction between lender and borrowers. It is normally developed through group activities but there are other ways to develop it by individually. In group social intermediation, activities perform inside the group with some help from outside to develop institutional capacity and human resource. In group, most of members belong from remote areas, having less literate and experience about business and financial transaction. So from group formation to selecting leader, developing networks and working mutually, MFIs support borrower to deal with these issues. Therefore, these members need training in record keeping, book keeping, accounting, training about business activities and tactics, and negotiation skills (Ledgerwood,2000). Enterprise Development Services Micro finance institutions (MFIs), not all, support to borrowers, either in group or individual in different enterprise development services like marketing, business and accounting training etc. This service can be divided in to two parts, enterprise formation and enterprise transformation. In enterprise formation, MFIs provide technical support to group or individual in start up of business, development and maturing ideas and maturing the skills. During in transformation of enterprise, MFIs arrange trainings for their borrowers, workshops and get together for developing latest skills in their business area (Ledgerwood, 2000). Figure 3: Minimalist and Integrated Approaches to Microfinance (Ledgerwood, 2000, pp.65) Minimalist Approach Integrated Approach One-missing piece Financial and non financial Credit Services Financial Intermediation Working Capital Fixed asset loans Savings Insurance Social Intermediation Group formation Leadership training Cooperative learning Social Services Education Health and Nutrition Literacy training Enterprise Development Service Marketing Business training Production training Social Services Microfinance practitioners define that, poverty can be addressed by financing poor for productive activities which in result comes up to their access to life necessities. But financial lending is only a one tool to poverty alleviation. Poor needs more than microfinance to address the problems of poverty and accessibility to other life needs like food, health, family planning, education, social support network and so on. In Ledgerwood (2000) MFIs serve to their clients with additional social services with financial intermediation. The best way to contact with their clients is in the form of group, that is the easy way to literate them, giving health care and other facilities. So in this way, MFIs would positive effect in the life of poor by offering financial services with supportive services. These supportive services, actually, play important role in sustainable human development and livelihood of the poor (Khan, Rahman, 1998). Social service should not implicate with financial or social intermediation because financial intermediation is primary service providing by MFIs. That means, there should be no additional cut off from loans in account social service but it should be provide by secondary means or by subsidies (Ledgerwood, 2000). 2.4 Microfinance Models The term model refers to â€Å"service delivery methods and microfinance products†. There are now nearly 70 million poor people who are getting benefits from 2500 MFIs in over 100 countries by microfinance (Sengupta, Aubuchon (2008). The poor’s conditions are different in different countries in world. These conditions are related to social, ideological and political issues (Weiss, Montgomery, 2004). Therefore, there are some distinctive differences between approaches and motive of microfinance. I will see briefly two approaches, which is very famous Grameen Model, originated from Bangladesh and other is Banco Sol Model, Bolivia. 2.4.1 Grameen Model In Grameen model, primary unit to whom lending fund is a group of 5 members that organize and apply for loan. In first stage loan is granted for two members to invest in their business. If these two members become successful to repay amount, then four to six weeks later, next two members are granted for loan. Last one member will be eligible for loan if previous two repay loan successfully. Repayment of loan open door for next loan and then go on if all members repay loan successfully. If anyone of group member will default in their loan, whole group will disqualified for further loan. Each group has its own president and secretary to coordinate all activities among their own group and to communicate and coordinate with other groups. Eight groups are then organized at center level, by which a bank officer deal with these all eight groups. This center of eight groups has its own center chief and center group leader (Khan, Rehman, 2007). According Sengupta, Aubuchon (2008), first time, bank granted loan $100 and bank require to repayment of 10 percent amount, at rate of per annum, weekly. This repayment ensures to user for loan security, and also encourages them for savings. Along with five percent of loan deposited in group account for emergency and social need. For example, in case of need of health care of any one member, in case of emergency, this five percent deposit will be use. A unique and innovative approach of group lending is used in Garmeen Model. As Sengupta, Aubuchon (2008) described that group lending have many benefits. First, group usually organize in members who are neighbor to each other, those can understand each other well and recognize their needs. Second, if anyone of group member will not present in group meeting, leader or other member can pay its installment. We can say that there is a kind of mutual understanding between all members. Third, in south Asia generally, and in Bangladesh specially, there are social pressures among members of society with social bindings with them. If one member of group will not pay even one installment, social pressure will be levied from all eight groups on this member and this reduces the risk factor. 2.4.2 Banco Sol Model Grameen model of microfinance emphasize on lending to villagers and keep loan lending on in smaller amount. The other core concept of model is formation of groups and these groups are eligible to take loan, no option of loan for individuals. Idea of progressive lending introduced to lend loan to individuals with group lending (Agion Morduch, 2005, pp.119). In this model after completion of every repayment schedule the amount of loan increased. But other characteristics of Grameen model (Group lending) are included in this method, like targeting to poor, women, group formation, and public payment. No doubt, progressive lending is an extension of group lending but now many MFIs are adopting this approach. In this model of Progressive lending, microlenders are flexible about collateral and lend loan to group with individuals also. This method is very helpful in areas with low population densities or highly diverse population where group forming is not so easy due to different ratio of safe and risky borrowers. In Bolivia, there was different situation when populist regime left government and there was high ratio of unemployment in urban areas. To come to fulfill the need of time, Banco Sol started operations in microfinance with progressive lending. Therefore we can say that microfinance approaches are evolved due to different political, ideological and social conditions. In Weiss Montgomery (2004, pp.3) Microfinance in Latin America developed under quite different conditions. In Bolivia, a collapsing populist regime led to widespread unemployment. Banco Sol, a pioneering microfinance institution in the region, developed to address the problem of urban unemployment and provide credit to the cash-strapped informal sector. The notion of commercial profitability was embraced relatively early in this approach. 2.5 Empowerment Poverty effects not only on individual’s life but also on society as a whole. Poverty is one of the main reasons in cause of less empowerment of poor especially in developing countries. Empowerment is a broad concept to define because there are many elements involve in it. These elements influence by including political, social and power system in the country. Empowerment covers many issues and when there is discussion on empowerment it includes many elements. These elements are, self-strength, control, self-power, self reliance, own choice, life of dignity, fighting for rights, independence, decision making, being free, capability , access to basic human needs etc.(PREM,WB, 2002). Misra (p.3) describes empowerment as a power to the people and self governance. He define that Empowerment builds self-reliance and strength in women, preparing them towards gathering the ability to determine the choice of life. This adds to the command over resources outwit insubordination and signify their social role. Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with little or no power gain the power and ability to make choices that affect their lives. Due to different social, political, economical conditions, we can not define a one definition for empowerment. According to Batliwala (Makombe, 2006, p.52), empowerment mean, take control over material assets, intellectual resources, and ideology. The material assets over which control can exercised may be physical, human, or financial, as land water, forests, people’s bodies and labor, money and access to money. Intellectual resources include ideas and knowledge information. Control over ideology signifies the ability to generate, propagate, sustain, and institutionalize specific sets beliefs, values, attitudes, and behavior-virtually determining how people perceive and function within a given socio-economic and political environment. Empowerment is the expansion of assets and capabilities of poor people to participate in negotiate with, influence, control, and hold accountable institutions that affect their lives. (PREM, WB 2002, p.11) define that A strategy for empowerment is taken at individual, government, civil society and private sector level. Usually these efforts lead to empower people in context of sharing of power, freedom of information, access to resources and health and education services. These strategies normally share four types of elements: First, Access to information, its mean every citizens including poor have direct access to information because information is power. Second, Inclusion/participation, that’s mean there should be opportunities for poor that they can participate in decision making and they should be included in all financial and political policies. Third is accountability, that’s mean officials, public servants, private actors should be accountable not only to some specific institutions but to their citizens for performance. Fourth and last one Local organizational capacity, its mean that people can work together, organize themselves, mobilize and utilize resources and solve problem at community level (PREM, WB (2002). 2.6 Entrepreneurship It is one of the most widely used terms in business, management, economics and other related fields. One of important thing is that entrepreneurship has different meaning for different people, some use it in the meaning of innovation, some use for creativity, risk taking, leadership, and profit maximization or in social context, and some consider it as start up of business, new production methods and many other different meanings. Davidsson, (2004) describes it that entrepreneurship is rich phenomenon which makes it a resourceful field. While defining entrepreneurship, I consider some school of thoughts that have major role to define this field. According to Schumpeter school of thought (Swedburg, 2000), Entrepreneurship is about innovation in organizational process, thinking up new combination, entrepreneurial behavior and motivation of entrepreneurs. While according to Gartner (Thornton, 1999), entrepreneurship is about creation of new organization or new startup, creating values and entrepreneur mean owner-manager. In Krizner’s view, entrepreneurship is searching opportunities and exploiting them so it reflects towards the alertness capability of entrepreneur towards profit opportu