Hey everyone,
This is my final post dedicated to our Weekly Reading Reflections. This week's post comes from the "Harvard Business Review" and is an article titled, "Business Basics at the Base of the Pyramid". I found this week to be extremely interested and perhaps the best of the semester.
One of things that surprised me in the reading was the fact that micro-financing is a multi-billion dollar industry. I honestly had no clue that it was that prevalent, especially in second and third world nations. I usually picture micro-financing as small loans to the poor in the U.S, not villages in India.
The one thing in this reading that I believed to be pretty confusing was that SKS started as a non-profit and then transformed itself into a for-profit company. I did not know this transformation was possible and am kind of confused as to how a company would go about that transformation.
Two questions that i would like to ask the author:
#1. How do you transform a business from a non-profit to a for-profit company and still retain the same target market.
#2. What happens to you company when more people than you expect cannot make payments?
Finally, there was nothing that I disagreed with in the reading. I thought the business concept was in fact very noble and is definitely doing a tremendous amount of good work in India.
Until next time,
-Bryce
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