MICROFINANCE IN DEVELOPING COUNTRIES Introduction             According to the World Bank, approximately 1.4 billion people across the world live on less than one dollar a day. These individuals are faced with abject poverty and suffering (World Bank, 2009a). Available literature indicates different effective programs that have been developed to deal with poverty. One of the strategies is microfinance, which is seen as an effective tool in combating paucity. This is because microfinance requires minimal investment and can serve unfortunate people, unlike traditional banks. Microfinance refers to financial services that are mainly offered to low-income households. Microfinance institutions mainly give these services. In the past few years, many developing countries have established microfinance institutions (MFIs). MFIs are crucial since they are a source of capital for people who are unable to access loans from banks. Loans provided by microfinance institutions help individuals to start small-scale businesses and generate income (Cai, 2016). Income made is crucial in ensuring the reduction of poverty in developing nations. The establishment of microfinance institutions has enabled millions of people across developing countries to have access to…

Importance of Technology in Tourism and Event Entrepreneurship Introduction Definition of ICT and Entrepreneurship The term ICT is an acronym that refers to Information Communication Technologies, which are the technologies that focus on accessing information through telecommunications. The communication technologies include wireless networks, the Internet, cell phones, and other mediums of communications (Tech-terms 2010). Hayes (2019) defines entrepreneurship as the process that involves designing, launching, and running a new business that is initially a small business by an entrepreneur. Importance of Technology in Tourism and Event Entrepreneurship Tourism economy has transformed digitally, and it is now embracing information Communication technology where tourism-oriented companies such as travel agencies, hotels, rental agencies, tour operators, and cruisers experience the growth effect (Januszewska, Jaremen, & Nawrocka, 2015). Integrating information communication technologies with Tourism and event sector has been of great importance since both areas contain high value chain where the creations, collection, retrieval, and storage activities are the main activities in the tourism enterprises (Januszewska, Jaremen, & Nawrocka, 2015,  Parker 2019). Most tourism and event sector has transformed the consumer decision-making process into an…

Effects of Globalization of Economic Growth and Development in Australia and China Introduction Globalization can be described as the free movement of goods, services and people around the world. The globalization process is by interaction and integration of among people, companies and governments of different nations. the interaction and integration are fueled by economic needs where countries depend on each other for maximum economic growth. Currently, globalization is aided by information technology whereby people all over the world can transact business easily without having to meet physically. This essay is going to look at different areas that globalization has impacted on in relation to Australia and China. Economic Growth-Sustainability Before globalization, Australian economy was stunted. Australia has abundant resources that cannot be fully utilized by Australian people. Before globalization in Australia, these resources were of little importance because they did not generate any income. This lack of extra income in Australia resulted in stagnated economic growth. The case of China was different form Australia in that China had limited resources and an abundance of citizens. However, this still led to…

Contemporary Analysis This assignment will allow you to put your newfound critical film skills to the test– you will choose a film that has been released in the last year. You can view the film in the theater, through Redbox, through Netflix, from the library, etc, however you choose. After viewing the film (I recommend viewing twice for maximum analysis potential), you will choose a chapter theme from the text that your film presents well. For example, if you chose The Grand Budapest Hotel, you could discuss sound/music. If you chose Spy, you could discuss acting. Both the film and the chapter are your choice. If you are stuck, please let me know and I will suggest options. Once you have chosen your chapter and analyzed your film for the content of your chapter, you will write 2-3 pages discussing your findings.[unique_solution] The paper should be 12 point, times new roman, double spaced. After reading your paper, I should be able to understand how your film presented the chapter′s topic and how that presentation impacted the audience. You could also…

Business and Entrepreneurship              Business and entrepreneurship have almost the same meaning but with a minimal difference. Business refers to the process of buying and selling goods to earn a living while entrepreneurship is the process of developing innovation in a new business or an existing business to upgrade it and make more profit. Both terms are based on the same goal of buying and selling goods or services for monetary values. To effectively run a business several factors should be considered, which include business environment, cost of starting the business, marketing strategies, size of the business, and resources available. To start a business, determining a good business environment is very important. Several factors should be considered to ensure the business environment is good for the business. Government factors that design policies and regulations causing the business environment to be productive should be identified to ensure the business environment is beneficial (Álvarez, 2019). Other factors determining the business environment are accessibility, competition, and cooperation among the businesses. Apart from the business environment entrepreneurs should consider the cost required to start…

Entrepreneur Project According to Invernizzi et al. (2017), an entrepreneur is a creative and innovative person who identifies a business opportunity and takes risks to venture into the business with a primary goal of making a profit. Select an entrepreneur and Create a list of ten (10) questions that you will use to interview the entrepreneur In this case, I have chosen to interview a small business entrepreneur who has just started a mini supermarket. The list of the questions are: What are the advantages and disadvantages of being an entrepreneur? How do you think you and your business fit into the small business economy? What is your vision? How do you solve the challenges you come across? Where do you see the future of this business in the next five years? How do you ensure that customers get good services? How do you manage your employees? How do you make your business shine over your competitors? What prompted you into this business? Is your business worth taking risks for? Answers for the interview Being an entrepreneur has numerous advantages,…

Luke Lazarus Discusses the Role of Consulting in Today’s Business Environment   Luke Lazarus is an iconic business consultant and entrepreneur based in Melbourne, Australia. He is the founder of Luke Lazarus Consulting and has made a name for himself for helping start-ups find prosperity. This celebrated consultant started his journey in the business world as an entrepreneur. At the age of 8, he set up his first business, adding more as he grew up. Thanks to his entrepreneurship prowess, all his companies have been a success.   After finding success as an entrepreneur, Luke started yearning for more as he grew older. He wanted to do something more fulfilling and rewarding. This was when he ventured into business consulting to help other entrepreneurs also find success with their businesses. Recently, Luke Lazarus came out to talk about the role of consulting in today’s business environment. Here is an insight into what this high-achieving business guru spoke about..   Consulting helps entrepreneurs find their way to success   Setting up a business and leading it to success is not an…

Design Solutions The three design solutions that can improve an existing product is improving packaging, adding new features, or improving the existing features of the product. Adding new features involves expanding the scope of the product. Adding nuts to cookies improving the existing features consists in making the existing features of the product better, for instance, making the cookies more crunchy and delicious. Improving packaging involves making the package more attractive or convenient than it previously was. For example, instead of packaging the cookies in a paper, the cookies can be packaged in a beautiful plastic box that can be reused. The advantage of adding new features is that they attract new customers and gives the company a  competitive advantage. However, not all customers might like a new product. The product may also not turn out as expected. It may end up being rejected in the market. Improving existing product features could increase the quality of the product and attract more customers. A company can also build a competitive edge. However, product improvement may be more expensive for the company.…

Fascism, Capitalism, Socialism and Communism Introduction A political system can be defined as a body that is responsible for government official decision-making process. The movement makes decisions on economy, legal systems, culture and all other departments of a country affecting the economic status of a nation. This discussion will elaborate on capitalism, communism, fascism and socialism political systems. Capitalism Capitalism refers to an economic scheme where almost all means of production are privately possessed and run. Additionally, the capital and manufacture reserves, delivery and commodities’ charges are determined by the free market but not by the state; hence production is run for profit generation by private entities. In capitalism, private entities all the four factors of production, including labour and entrepreneurship. It is characterized by private ownership and the income derived from the purchase. The supply of goods and services depends on laws of supply and demand, which call for an increase in price with increasing demand (Holcombe, 2015). Additionally, in capitalism, there is a free capital market operation where demand and supply set prices of commodities. Capitalism has some…

Importance of market analysis and how it fits in the broader theme of strategic management            Substantial market analysis on both competitors and customers are the reason for the most successful products, services, and businesses that are present in the market currently. Market analysis is the first and most crucial stage in marketing plan development, which is a vital component of strategic management (Lasserre, 2017). It refers to a continuous process of comprehensive data collection to determine the extent to which a product or service will or is meeting the needs of its intended customers. Also, market analysis assists the business in getting valuable insights about the market, including a shift in the economy, ongoing market trends, competitors, customer’s tastes and preferences, as well as the demographics making it a crucial component that provides companies with all vital information that help make wise and strategic business decisions. Companies aim to satisfy a given element in the market. Thus they need to study the market to understand it, know how it changes, and various upcoming events to…