Sustainable Microfinance - Balanced Scorecard's added value for ...

cannot be controlled by the researcher. First of all, it is difficult to have the full
confidence in criticizing the answers of the respondents as true and if they truly
understand the question. The pilot-interview has been conducted in English, when
the mother tongue of the interviewee and the interviewer were Dutch. This resulted in
certain questions not being fully understood, but more importantly resulted in not
being able to fully word what the interviewee wished to say. This means that the
interviewee may have meant one thing but said another, due to the lack of English.
Therefore the remaining interviews have been conducted in Dutch.
To increase the understanding upfront explanations and descriptions of the topic
were sent to each respondent before the interview in order to allow them to get
acquainted with the subject. The reliability was covered in this research because
there was a balance between having eight ‘experts’ from different viewpoints all
interviewed in a similar, familiar setting for the interviewee.
In the end, all research, whether theoretical or empirical in nature, retains flaws and
opportunities for future improvement. The work was, as is always the case, shaped
by the experiences and the knowledge of the researcher. By definition that means
that some work may have been overlooked, others improperly evaluated or
assessed, and leaving yet other weaknesses and options un-contemplated and
hence unaddressed.
7.6 Future Research
The challenge that remains is to empirically determine whether the ‘Equally’
Balanced Scorecard for Micro and Small Entrepreneurs is useful for these
entrepreneurs. The number of ways that these empirical tests can be performed is
practically limitless. Experiments could be run to see if the ‘Equally’ Balanced
Scorecard for Micro and Small Entrepreneurs metrics improve a decision-maker’s
ability to choose the best action among a set of options. Longitudinal field studies
and action research could be undertaken to determine if the application of the
proposed model and set of metrics would improve planning and performance in small
businesses. These are just two of many options available for future work.
Elmar Hoogendoorn 82
Sustainable Microfinance