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

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Table of contents Table of contents 85 1. Abstract 86 2. Background 86 3. Aims and objectives 91 4. Research question 92 5. Theoretical and practical relevance 92 6. Methodology / data sources 93 7. Expected outcome and recommendations 95 8. Table of contents 96 References 98 Workprogram 100 Elmar Hoogendoorn 85 Sustainable Microfinance
1. Abstract The Thesis Project will focus on the practice of microfinance in the Netherland to stimulate entrepreneurship. It will create an overview of different microfinance models currently in practice. It will pay special attention to those models currently sustainable and independent of external finance. After extensive literature review, a benchmark will be created to develop a framework for a sustainable microfinance model. An inductive research, by interviews, will be conducted to finalize the framework by analyzing the views of, journalists, entrepreneurs, professors and other parties involved. The results, a framework for a sustainable model, will be useful for all parties involved in the microfinance process in the Netherlands. 2. Background Microfinance in developing countries Initially, most developing countries accepted microfinance as an instrument to combat poverty. Then it was acclaimed as an instrument to boost entrepreneurial initiatives. Subsequently, microfinance institutions (MFIs) developed comprehensive programs offering a wider range of products and services to micro-entrepreneurs. Now, the sector is considered an industry, and legalization and regulatory frameworks are developed and introduced in support of the sector (Molenaar, 2009). Microfinance in Central and Eastern Europe According to the European Microfinance Network (EMN) the state of microfinance in Central and Eastern Europe (CEE) and the New Independent States (NIS) is much more developed than in Western Europe (Evers and Jung, 2005). In CEE microfinance began as an economic development tool after the fall of the Berlin Wall. Within 5 or 6 years, microfinance institutions in CEE and in the NIS had attracted more than 1.7m borrowers and 2.3m depositors, with an average client growth rate of 30% per year (European Investment Fund (EIF), 2009). The Microfinance Centre (MFC) (for CEE and the NIS) has developed the Strategic Management Toolkit to help MFIs professionalize their strategic management processes and improve their double bottom line. The toolkit minimizes the risk of mission drift for those MFIs, which grow fast, transform themselves into regulated institutions, and/or compete aggressively with other market players (MFC, 2007). Elmar Hoogendoorn 86 Sustainable Microfinance
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! ! Sustainable Microfinance Balanc
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Keywords and Abstract Sustainable M
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Condensed Table of Contents ! ! Key
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3.3 Lessons from previously develop
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List of Figures ! Figure I-1: Thesi
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List of Abbreviations BDS Business
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1. Overview This chapter serves as
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In 2007, the Dutch Ministry of Econ
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collect information or seek specifi
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In some regions entrepreneurs are a
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• What different players in the D
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2. Theory and Literature Review - M
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investors expect to gain from the f
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2.4 Microfinance in (Western) Europ
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A MFI in the survival mode can bare
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The main factors that negatively af
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that are needed in order to transfo
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According to Lämmermann, et al. (2
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2.5.6 Success of BDS Lämmermann, e
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The final conclusion relates to the
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Kaplan and international strategy c
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investments in learning will lead t
Page 45 and 46: • Derived from strategy; • Stim
Page 47 and 48: emaining drivers of the model are;
Page 49 and 50: Greatbanks and Tapp (2007) Manville
Page 51 and 52: that fail to effectively plan for t
Page 53 and 54: objectives (obligations) establishe
Page 55 and 56: Section II. Research Design The pre
Page 57 and 58: the use and usefulness of PMSs by s
Page 59 and 60: Figure 4.1: Step model of inductive
Page 61 and 62: 4.5 Methods of Data Collection In o
Page 63 and 64: All eight groups are interesting fo
Page 65 and 66: must take into account with the rel
Page 67 and 68: Section III. Findings and Discussio
Page 69 and 70: KH VS TB RL OE MB CS AP Total App.
Page 71 and 72: street and within an area of 500 me
Page 73 and 74: A final aspect that is exceedingly
Page 75 and 76: For the model Stefano (2010) propos
Page 77 and 78: know a lot about this topic', often
Page 79 and 80: 5.3 Summary Based on the empirical
Page 81 and 82: 6. Discussion 6.1 Introduction This
Page 83 and 84: 6.2.4. Sustainability Entrepreneur
Page 85 and 86: 6.2.9. Network & Business Developme
Page 87 and 88: The discussion is ended with a fina
Page 89 and 90: • Since the development of microf
Page 91 and 92: 7.2.3 The Model: ‘Equally’ Bala
Page 93 and 94: cannot be controlled by the researc
Page 95: Appendix A - Thesis Proposal Accord
Page 99 and 100: efficiency, and aggressive enforcem
Page 101 and 102: entrepreneurs, compared to the curr
Page 103 and 104: The Thesis Project has several obje
Page 105 and 106: Based on the results from the liter
Page 107 and 108: 8. Table of contents Preface List o
Page 109 and 110: References Armendáriz, B. 2009, 'M
Page 111 and 112: Work program March April Week numbe
Page 113 and 114: Figure B-2 Simplified Strategy Map
Page 115 and 116: Figure B-5 Comprehensive Performanc
Page 117 and 118: Organizational Development • What
Page 119 and 120: RL start at the core; 'why do you w
Page 121 and 122: Appendix E - Social ! KH jobs creat
Page 123 and 124: Appendix F - Financial ! Liquidity
Page 125 and 126: OE through friends and family and a
Page 127 and 128: MB that has to do with you financia
Page 129 and 130: RL You can test it, by launching fo
Page 131 and 132: Appendix I - Internal Business Proc
Page 133 and 134: OE he has an advantage and should f
Page 135 and 136: Appendix L - Network ! Professional
Page 137 and 138: Appendix M - Business Development S
Page 139 and 140: Appendix N - General BSC model ! Us
Page 141 and 142: Appendix O - Relation and Link ! Eq
Page 143 and 144: Appendix P - Most Important Financi
Page 145 and 146: Appendix R - Sustainability of Micr
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Appendix S - Qredits ! KH The main
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Bibliography Affleck, A. and Mellor
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Derban, W., Binner, J. and Mullineu
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the case of the tourism industry,
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Kunc, M. (2008), 'Using systems thi
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McKinsey & Company, p. 3., Availabl
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Shrader, C.B., Mulford, C.L. and Bl
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Woodworth, W. and Woller, G. (1999)
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