Allegorical on the Bell Jar Essay

Just as all roads lead back to home, the protagonist exhibits that everyone will eventually become manifestations of the society it is born within. In this excerpt, the author uses the strong allegory of the protagonist plummeting down the slopes and skiing towards the inevitable end of conforming towards mankind and society. Although the protagonist’s gender isn’t explicit, we can assume that it’s a girl due to its unambiguous sub theme of feminine repression. The author presents the protagonists struggle in two distinct parts: the struggle to conform and the inevitable realization and acceptance of her fate. The author is able to do skilfully do so with a myriad of literary devices and extremely significant allegories. In the beginning, the protagonist is still struggling against the implications of society and is unwilling to accept her fate. The monotony of her â€Å"pale† life is emphasized by the repetition alliteration of â€Å"hill after†¦hill† and â€Å"great grey eye†. This shows the boring reoccurrence in the protagonist’s life and is constantly being overshadowed and judged by the watchful eye of society. Additionally, the protagonist is having an internal battle with doing what she innately feels is right against becoming what she knows everyone else wants her to transform into. Therefore, she has an â€Å"interior voice† that is persistently â€Å"nagging† her â€Å"not to be a fool† and conform and lose herself and â€Å"save [her] skin†. Obviously, she has fought hard to persist as her authentic self and is bitter about giving up who she really is. She feels like she has lost her sense of self and is no longer an individual, but merely â€Å"camouflaged† amongst everyone else as a product of society. The long sentence structure in the second paragraph of the excerpt displays that there was a very long and meticulous thought process about her present situation. She is â€Å"bordering† on the edge of a life changing decision. She has to decide – should she â€Å"kill [her true] self†, or should she resist the temptations of society? She is representing man’s struggle against oneself – the hardest battle to. However, she finally overcomes her inner battles and comes to realize that it is in her best interest to abide to society’s expectations. Henceforth, she tries to â€Å"measure the distance† and calculate how much of herself she will have to lose in the process. Buddy is a representation of society and the word is also slang for friend. â€Å"His†¦folded† â€Å"arms† signifying his lack of approval and his natural masculine instinct to repress femininity. As a result, we can understand the extent upon which female repression has been engrained into society and social stigma. Such is the product of a society filled with conformists and a lack of individuality – â€Å"numb, brown†¦ inconsequential† and boring beings. The next paragraph accentuates her defeatist attitude as the excerpt inches to the climax of the plot and has resolved to finally conform to the ‘American dream’ and fit into the mould society cast for her. Inevitably, she â€Å"aim[s] straight down† as she realizes that despite her best efforts at resistance, it is all to no avail. Once again, the short sentence structure is the implicit sign of the distinct change of internal character into one that has finally decided to join and become a part of society. Subsequent to the protagonist’s â€Å"descen[t]† into society, she â€Å"plummet[s]† herself straight into the heart of the situation. Nevertheless, even though she has physically committed herself he is still mentally â€Å"suspended† and trapped between what she wants and who she is. As a result, she represses those thoughts from â€Å"r[ising] higher†. This is the pivotal point upon which she consigns herself to follow society’s expectations because she understands that without social rules and stigma, â€Å"the world would not exist† and be able to function properly. Her â€Å"answering point in†¦[her] body† instinctually gravitates â€Å"towards† following social norms because despite the struggle against it, everyone will eventually cave to the expectations of others. She has become â€Å"inflate[d]† by the â€Å"inrush† of the external pressures of being part of a society . She realizes that she is finally experiencing the typical emotions, even though she feels removed from the â€Å"smiles† and â€Å"what it is [supposed to feel like] to be happy†. In spite of that, she feels â€Å"doubleness† as if it is not really herself going through the motions – she doesn’t feel true to herself and who she really is but simply sees a reflection of her figure that she can no longer recognise. On her way â€Å"hurtling† down, she has flashes of her â€Å"own past† that â€Å"recede[s]† and she has to make a decision between the light of the â€Å"white sun† and the darkness of an endless â€Å"dark tunnel†. Ultimately, she focuses on the â€Å"bright point at the end† of the tunnel and becomes a small â€Å"pebble† in the â€Å"bottom of [a big] well†, which is an analogy to her small and insignificant self in a world filled with billions of people. Her metamorphosis is paralleled to that of a rebirth into her new life. She has chosen the light and she is being christened into her new life as an innocent â€Å"sweet baby† that is being reborn again from â€Å"it’s mother’s belly†. All throughout this process â€Å"Buddy† and the â€Å"other faces† of society watchfully gaze and â€Å"h[a]ng over† her to ensure complete control. Gradually, she is transformed by the â€Å"strokes of [a] grandmother’s wand† creating a fairytale element to her change. The â€Å"familiar voice† of her conscience reminds her that she was doing â€Å"fine† by herself until â€Å"man[kind] stepped into her path† and created the platonic change within her. Society has already taken it upon themselves to â€Å"unfasten [her] bindings† of her previous ‘life’ and releasing her of her previous sins of not conforming. The â€Å"lodge fence† that blocks her way is a symbol of the white picket fence, which is a representation of the American Dream. She is finally being trapped into society’s expectations of what she should become. Yet she is still treated as an outsider and isn’t trusted and treated like an enemy with a â€Å"concealed weapon†. In the end, the light triumphs the dark and society overcomes her. The rising of the white sun shining in the sky displays her birth and final decision to conform to society. Even though she tries to challenge and return to her old self, she is unable to escape. Not only is she restricted by society itself but herself as well. She is â€Å"stuck† as society now has full reign over her. Thus, society and lack of freedom prevail and it’s triumph is evident in the â€Å"final smile†. In conclusion, the excerpt uses skiing as an allegory for mankind’s eventual and inevitable decline into conformity towards the American dream. There is no place in society for people who do not follow social rules and expectations. The protagonist is assumed to be a woman due to the stigma of females repressed role in society. She begins with the struggle between light and dark and the battle between being true to oneself and taking the easier path and following the well-worn road that society has taken. Later on, she understands and realizes that it is inevitable and ultimately conforms. Not matter how hard we may try to contend society, it will always prevail and have the power to manipulate us.

Off-the-Job Behavior

Textbook Case Study Off-the-Job Behavior 1. Do you believe Oiler’s employee rights were violated? Explain your position. Peter Oiler’s termination from his job by the Winn-Dixie Corporation was an obvious violation of his employee rights. Though balancing employee rights with proper discipline is a constant challenge for HR professionals. But in this case of Oiler, the work place behavior of the employer had not changed and there is no problem, with the co-employers also. Also in the own time, the company have no rights about the way he dress.Hence there is also no such challenge for the Winn-Dixie that it has to terminate Oiler. Hence I would consider that Winn-Dixie has violated the employee rights of Oiler. Also his social security has been compromised. When we consider the situation here is more normal than a similar case in 2005, which happened in Georgia. According to that, the courts consider this as sexual discrimination under 42 U. S. C. Sec. 1983 and Equal Pro tection Clause of the 14th Amendment of the Constitution.And the development of trans-gender transitions has a real concern and the laws accept the claims of discrimination under employer’s categorizing of genders. Thus Oiler’s claim is acceptable and Winn-Dixie has to oblige to the claims of Oiler. Here Oiler’s can be taken as an example of opposition of trans-genders in the general public. Though the laws are guarding them, the manipulation of thought caused by these cases is more than the actual violation. Since the court ruled out as not a violation, it will be a wrong guideline as the decision can be referenced in consecutive references. . What do you see as the consequences of organizations that punish employees for certain off-the-job behaviors? Explain. In the case of punishment of the employees, the people have united against this unrightfully action. Also it had created an uneasy environment among the workers. Most organizations which do the punishment of workers for off-job behaviors as they feel as their right, run the risk of being faced with numerous lawsuits and allegations of partiality and discriminatory practices.Hence these organizations end up with a bad reputation and a question mark for credibility. Which in turn costs, they also face losing customers, business partners and stockholders. There will be a greater number of individuals who do not agree with these abrupt decisions than who support it. Hence they will decide to cut their ties with organizations who favor such practices. It would be safe to assume that many businesses that were previously a part of the Winn-Dixie organizations like financial institutions, suppliers etc. ade the decision to no longer be associated with a company that would practice such unethical and immoral standards of business. This will in turn destroy the past achievement and the support it had earned and also future trades with other organization is also threatened. Hence it completely obliterates the potential success of any business or organization. Any business organization must have rules and regulations which must be followed to and by all employees. Additionally, businesses must have particular methods in place to discipline individuals who do not follow the rules. 3.Would you consider Winn-Dixie an organization that exhibits characteristics of progressive discipline or the hot stove approach? Defend your position. According to me, Winn-Dixie is an organization which exhibits hot stove characteristics. This can be made on seeing the action taken by Winn-Dixie. Oiler has a clean organizational behavior and has a perfect work record. His career track record is also proper and he is considered as an asset by all the workers. When we consider about the harshness of the Disciplinary action, terminating the employee is considered as a most severe disciplinary action.And the Winn-Dixie had done this, hence it is a Hot stove characteristic. The hot-stove approach p unishes all unacceptable behaviors with identical disciplinary actions whereas the progressive approach, warns individuals depending on the harshness and/or the reoccurrence of actions and behaviors which they have previously been warned against. The severe disciplinary action can be taken for an offense is so serious that immediate dismissal is appropriate such as theft, sexual harassment, violence, plagiarism etc.And since the person involved has not done anything, hence he should not be taken severe discipline. Also before taking a decision of terminating the employee, the company neither talked to Oiler for an explanation nor it has given Oiler a verbal warning so that he can be more careful in future. Thus it had taken the action immediately and without giving time to Oiler for confirming his position or giving any explanation. Hence Winn-Dixie is following hot stove procedure in disciplinary actions.

Court observstion Essay Example | Topics and Well Written Essays - 1000 words

Court observstion - Essay Example The court demonstrate great power relation in the exercise of its jurisprudence, this is symbolized by the setting of its procedures, to the architecture of the courtroom, the procedures, the presentation of oneself from the judges to the defendants. This is illustrated as stated below: The Architecture: this comprises of the structure of the courtroom in relation with the power relation within the courtroom, the judges position was raised above the rest with the depicting high authority of the judge towards the other members. This does not accommodate equal power distribution among the participants. The fundamental architecture design of courtroom, complimented by precisely calculated use and placement of furniture, did not accommodate equal power distribution among all courtroom participants (Carlen, 1976, pg50). Instead, such architectural features awarded the presiding judged with the position with the most superior power (Carlen, 1976, pg50). The judges place was elevated making the defendant inferior to the judge, the judges dock was the highest positioning of the courtroom having it also centrally placed, ritualized the judges position as equal and non-partisan to any side. The defendants dock was placed isolated with a police officer standing beside the dock this showed the position of defence as the case was to proceed. The furniture in the courtroom is set that the occupants are facing and focused on the witness box which is placed at a lower level than any other furniture item allowing all the members of the courtroom to have clear focus on the witness (Greenberg, 1976, pg87). Arguably, while looking down upon defendant extents intimidation to witness, which makes them to understand their position in the power hierarchy of the courtroom ensuring clear conscious of the need to comply with the laid down system of the will and codes of the court. The presentation: the judges presence was followed by a peculiar silence depicting authority,

Significance of Air Pollution Essay Example | Topics and Well Written Essays - 500 words

Significance of Air Pollution - Essay Example As the discussion stresses scientists has founds pesticides remains in Antarctica where there no possibility of finding pesticides where seldom we can see human interaction. The mother Earth has the ability to absorb the gases for a certain limit but as the capacity increases beyond limitations air pollution shows its adverse affects. According to the report findings the pollutants can be seen in every part of our life whether you are out or inside your house. The main pollutants are: carbon monoxide, Nitrogen oxides, Sulfur oxides, Haze & Visibility, Hydrocarbons and particulate matter (both solid and liquid) .These are the prime resources of air pollution in this contemporary world. Carbon monoxide (CO) is a colorless, odorless gas produced by incomplete burning of carbon-based fuels including petrol, diesel, and wood. Smoking cigarettes and burning plastics will allow CO to mix with atmosphere. It damages our respiratory organs and causes damage for our lungs which may at times lead to cancer. Nitrogen oxides are another most dangerous gas comes from fossil fuels and biomass. Nitrogen gases are responsible for acid rains and smog. Nitrogen gases damage the ozone layer and do remain in earth atmosphere for long periods of time. Sulfur oxides are produced by combustion of sulfur-containing fuels, such as coal and fuel oils. Sulfur oxides can injure man, plants and materials.

Competitiveness Report Essay Example | Topics and Well Written Essays - 2000 words

Competitiveness Report - Essay Example Kanter (1995:71) on his work of "Mastering Change" argues that success in the present day business is not for those companies that re-engineer the way they do things, or for those fixing the past. According to Kanter (1995) such an action will not constitute an adequate response. This is so because success is based on an organization's ability to create, rather than predict the future by developing those products that will literally transform the way the world thinks and view it self and the needs (Kanter 1995:71). Through an environmental analysis will understand how a firm's competitive position is affected by different forces. More and more companies are engaging in corporate social responsibility reporting, which helps major stakeholders to better understand how the company interacts with its society. (Sacconi, 2004). This essay uses the PESTLE framework to analyse the impact of an out of town shopping centre to the general population, the transport system and the traditional shopping environment. There after, attention is shifted to a normal shopping environment where, using the SWOT matrix one service organisation (TESCO) is analysed. According to Johnson et al (2005), the PESTEL framework can only be used to look at the future impact of environmental factors and how this impact might be different from the past. Thus an understanding of how the factors in the above framework may drive change is only a starting point (Johnson et al 2005).There is also the need for an understanding of the key change drivers. 1.2 Political Factor Analysis with Respect to the Stockport Shopping Centre Politically, the Manchester out of town shopping centre has been used by politicians as a way to push out and solve the growing congestions within the Manchester city area. The creation of these shopping centers has thus reduced congestion to an extent. Alternative out of city routes are now put into effective use. Though, the political situation of the UK is a stable and unique one, it over dependence through the support of the United States egoistic policies under the pretext of democracy, the war on terror, the tit

Enviromental Factors Paper Essay Example | Topics and Well Written Essays - 500 words

Enviromental Factors Paper - Essay Example For Mazda, the most important factor in the current environment is technology since it directly impacts all aspects of the automobile industry. Technology can help a car go faster, be more fuel efficient, reduce the cost of production and even help the company sell more cars (Baki et. al, 2004). Since fuel prices are on the rise and the limited nature of natural resources will continually push the prices higher, being more fuel efficient is a key selling point for Mazda if they are able to get their message across to the customers (RBSC, 2006). Similarly, political and legal factors can also influence the marketing strategy of Mazda in the future as more governments push for cleaner running cars and more curbs on how much pollution can be created by an automobile (Baki et. al, 2004). Mazda may have to push hybrid cars or cars powered by alternative fuels such as hydrogen to the public. This would certainly change the marketing strategy of the company since instead of focusing on styling, comfort, or even the performance of the car, the company would have to focus on the technical aspects of the new engine and convince buyers that it is as good as (if not better than) conventional engines in all respects (Harbour, 2001). Technology also impacts Mazda’s marketing decisions in terms of how the message is to be delivered to the customer. For instance, Mazda participated in web based stories for some of their cars and used the process of viral marketing for the launch of a new car model. In both cases, the internet was used as a means for marketing and the technology was cutting edge since the company needed to have a fresh approach to traditional marketing (Mazda, 2005). In terms of social responsibility, the principles which are applicable to Mazda can easily be applied to the rest of the automobile industry since many of the cars produced by them are objects of

Adamsrill Primary School Single Equality policy Essay

Adamsrill Primary School Single Equality policy - Essay Example Unlike the Equality Act, the single equality policy requires schools to go beyond aspects of race, disability and gender to include sexual orientation, age, and belief or religion, when propagating equality. I believe the single equality policy at Adamsrill primary School is committed to serving the school community’s educational needs especially through protecting equal opportunities, cultivating good relations and eradicating unwarranted discrimination (Adamsrill single equality policy n.d, p.1). As a diverse school, I understand Adamsrill needs to cultivate a culture of value in diversity where discrimination is eliminated, equality propagated and good relations fostered. The culture of value in diversity offers a wonderful experience to students, staff and visitors each day. Through a strong leadership team, I believe monitoring and reviewing the inequality practices regularly will enable Adamsrill to accommodate changes to its profile (Adamsrill single equality policy n.d , p.1). By enrolling students from numerous backgrounds, the enrollment of any new student could result to significant changes in school profile. In my view, Adamsrill Primary School’s efforts to ensure that equal opportunities are available to the entire school community are evident in the school’s mission to provide services without considerations for race, faith, religion, disability, socio-economic background or gender (Adamsrill single equality policy n.d, p.1). I believe that this is a good way to promote an inclusion and diversity culture that every stakeholder takes pride in and motivation to fully participate effectively in all school activities. Adamsrill’s Primary also offers inclusive teaching and uses different attributes of students to assess their performance while the data is used to raise the teaching standards (Adamsrill single equality policy n.d, p.2). Some aspects considered in inclusive teaching are race, gender, age, disability and special educational needs and free school meals. Adamsrill School’s discipline among students is also inclusive as discrimination of any kind is harshly challenged while respect for all is propagated. Students are also made to understand that diversity is strength to be celebrated by all. Each stakeholder at Adamsrill Primary School is required to understand their roles and responsibility in promoting equality (Adamsrill single equality policy n.d, p.2). The governing body identifies equality barriers and sets objectives to address them and also monitors efficiency in the attainment of equality objectives and then publishes review results. Students are the major source of information during equality monitoring progress and the collected information includes exclusions, harassment or bullying complaints and others (Adamsrill single equality policy n.d, p.2). The headteacher is responsible for endorsing the Equality message to the staff, pupils and parents. Background for the text in which the Single Equality Policy is embedded in wider social and policy discourses Educational policy in the UK after the Second World War is divided into welfarism and post-welfarism (Morgan and Williamson 2008, p.16). Welfarism began from 1944 to the late 1980s when the Education Act 1944 was designed with the aim of providing education to all especially those who could not access it previously like the minority groups. Like Bowe, Ball & Gold (1992, p.6), I realize that there was too much control over what was to be taught and how teaching would take place and there was over-commitment to the provision of equal opportuniti

Developments aimed at increasing the number of tourists going to Miami Research Paper

Developments aimed at increasing the number of tourists going to Miami - Research Paper Example The city is known for its famous beaches, sunny weather, luxury hotels, its numerous nightclubs and a number of fun activities that tourists can enjoy. However, there is a lot that can be done to help boost the tourism industry in the city. This paper will focus on two potential developments for the area that will facilitate in tourism attraction. These developments will benefit both local and international tourism in that the developments are essential to the well being of human being. These developments include affordable vacation homes for hire/rent and medical facilities for medical tourism. 2. Affordable vacation homes Accommodation is one of the most expensive necessities when traveling. This is because most tourists have no choice but to stay in hotels during their visit. According to (Simpson 2012: 32), the number of beds in most hotel rooms is two. This is usually not suitable for families or large numbers of friends visiting an area. This results to a lot of money being spe nt on accommodation, money that could be spent on other fun activities during the visit. He goes on to say that, some disadvantages of staying in hotels like long lines at the reception when getting a room, the remoteness of some hotels and the noise from traffic or the city are some of the reasons why people dislike traveling. This is because people leave their homes to relax on their vacations, but they end up hustling. In the long term, this leads to less people traveling both locally and internationally due to the high cost of accommodation in these hotels per night and the process involved in checking in and out of hotels (Becker 2013:15). The development of affordable vacation housing in Miami will attract more tourists in the area because these will represent their homes away from home. The vacation houses will vary in cost depending on the number of bedrooms i.e. 1 to 4 bedrooms. Tourists will have an opportunity to live as they live back home with their own privacy and spac e at an affordable price. The housing development will resemble a normal neighborhood the only difference being that the houses will only be rented to tourists and not locals for residence. The cost of this development will be approximately $15 Million according to (Ogershok 2004: 35) for 10 vacation homes that are fully furnished. The homes will also be very close to the beach in a secure location away from other residential houses. This recommendation has been welcomed and criticized by the public. These were the findings from an interview conducted on the views of the public regarding this development. Most people think it is a good because the affordability of the homes will attract more tourists to Miami, and development will be unique in that the project has not been done before in Miami and that aspect will promote more tourists in the area. Other people said that the houses may remain vacant during the low season and that some tourists may not want to have a home setting whi le they are away from home on vacation. The sustainability of this development will be quite easy and cheap. This is because the houses will only need occasional checkups for plumbing, wiring, gardening and other things that would need to be checked. This will be cheap because what will be required are the occasional repairs, which will not be too many. The tourists hiring the houses will have to sign an agreement that makes them responsible for damages to the houses that they will cause during their stay. This will facilitate the houses durability in their new form for a long time. The houses will only

International Human Resource Management Essay Example for Free

International Human Resource Management Essay 1.0 Executive Summary The world of international HR management (IHRM) is changing. As companies shift operations abroad, IHRM is moving beyond expatriate programs. Todays IHR managers are charged with scaling and managing overseas HR operations. This shift has not only created new opportunities for IHRM professionals, but also for companies looking to staff operations abroad. Possibly one of the greatest challenges facing the IHRMs is the fact that they are now dealing with not an individual employee but a whole family and their needs as a family in the relocation process. Some IHRMs find it more difficult than others to adjust to the added dimension of having to deal with the spouse and family on a more intimate level than before. After all, they are now relocating them halfway around the world and away from their support structures. They have to be prepared to get a lot more involved in the family as a whole and not just think they have to communicate with the employee only as is often the case when dealing with an employee here at home base. Throughout this assignment, we are examined the implications of differences in national culture for policy and practice in of the following aspects of human resource management: * Performance appraisal * Training and development 2.0 Training and Development Important components of international human resources management include both cross-cultural training and a clear understanding of the overseas assignment as part of a managers development. 2.1 Training Cross-cultural training is necessary for expatriates managers and their families before, during and after foreign assignments. As different countries have different culture, regardless how close of those areas, such as Taiwan and Mainland China, USA and Canada. Maybe they are talking the same language, however, their perception of social values, business practices are different. In Western, especially in USA, people are more individualism. In the contrary, Eastern people, such as Chinese and Japanese, people are more collectivism. The social system also different in Western and Eastern, the former is low power distant and the later is higher power distant. When those expatriates arrive, they are foreigners, not the host population, it is necessary to provide much cultural and practical background. Language training is an essential activity for everyone in the family. Although English is the dominant business language worldwide, relying on English puts the expatriates at a disadvantage. The expatriate will be unable to read trade journals and newspapers, which contain useful business information, and will be reliant on translators, which at best only slow down discussions in the process. Evan if expatriates manager is not fluent, a willingness to try communicating in local language makes a good impression on the business community. Foreign language proficiency is also vital for family members to establish a social network and accomplish the everyday tasks of maintaining a household. But cross-cultural training is much more than just language training. It should provide an appreciation of the new culture, including details of its history and folklore, economy, politics, religion, social climate, and business practices. It is easy to recognize that religion is highly important in daily life in the Middle East, but knowledge of the regions history and an understanding of the specific practices and beliefs is important to avoid inadvertently insulting business associates or social contacts. All this training can be carried out through a variety of techniques. Language skills are often provided through classes and tapes, while cultural training utilizes many different tools. Lectures, reading materials, videotapes, and movies are useful for background information, while cultural sensitivity is more often taught through role playing, simulations and meetings with former expatriates, as well as natives of the countries now living in the parent countries. While all this training in advance of the overseas relocation is important, cultural learning takes place during the assignment as well. After the overseas assignment has ended and the employee has returned, more training is required for the entire family. The employee also must adjust to organization changes, including the inevitable promotions, transfers, and resignations that have taken place during his or her absence. Teenager find reentry particularly difficult, as they are ignorant of the most recent jargon and the latest trends, but often are more sophisticated and mature than their local friends. The employee also must adjust to organizational changes, including the inevitable promotions, transfers and registrations that have taken place during his or her absence. Returnees are anxious to know where to fit in, or if they have been gone for so long that they no longer are on a career path. 2.2 Development In the current global business environment, the overseas assignment should be a vital component in the development of top-executives. It is not only to achieve the advantages for the individual in overseas assignment, but also an organization can gain the competitive advantages from their overseas employee. It is also a chance to provide the host counties employees to broaden their global perspective through a post in the parent-country headquarter, and may make it easier for the organization to recruit and retain better quality managers in the host country. Development is an essential activity to the individual to improve the individuals ability during the assignment and to well perform their jobs. 3.0 Performance appraisal In evaluating employee performance in international environments, other factors come into plays. For instance, the cultural differences between the United States and England are not as great as those between the United Stated and China, for example. Thus, hostility or friendliness of the cultural environment in which one manager should be considered when appraising employee performance. 3.1 The responsibilities of the evaluation There are also issues to consider regarding who will be responsible for the evaluations: the host-country management or the parent country management. Although local management would generally consider a more accurate gauge, it typically evaluates expatriates from its own cultural perspectives and expectations, which may not reflect those of the parent company. For example, in some countries, a participatory style of management is acceptable, while in other countries, hierarchical values make it disgrace to ask employees for ideas (for e.g. in Japan). This could vastly alter a supervisors performance appraisal. Confusion may arise from the use of parent-country evaluation forms if they are misunderstood, either because the form has been improperly translated or not translated at all, or because the evaluator is uncertain what a particular question means. The home-office managements, on the other hand, is often so remote that it may not be fully informed on what is going on in an overseas office. Because they lack access and because one organization may have numerous foreign operations to evaluate, home-office managements often measure performance by quantitative indices, such as profits, market shares, or gross sales. However, simple numbers are often quite complex in their calculations and data are not always comparable. For example, if a company has many operations in Fast East Asia, it must be aware of the accounting practices in each country. Local import tariffs can also distort pricing schedules, which alter gross sales figures, another often compared statistic. Evan when the measurements are comparable, the comparison country will have an affect. For example, factory productivity levels in Vietnam may be below those of similar plants in Thailand. Depending on where the supervisors results are compared, different outcomes may occur. Such issues complicate parent country management performance evaluations by numerical criteria, or indices and can add to the emotional levels in appraisals. 3.2 Evaluation Format Other issues surround the question of selecting the best format to use in performance appraisals, If we have an overseas operation that includes both parent country nationals and host country nationals, we must determine if we will use the same forms for all employee. While most Western countries accept the concept of performance evaluation, some cultures interpret it as a sign of distrust or even an insult to an employee. This complicates a decision to use one instrument like an adjective rating scale for all employees. On the other hand, using different formats for PCNs and HCNs may create a dual track in the subsidiary, in turn creating other problems. The evaluation form presents other problems. If there is universal form for the entire corporation, an organization must determine how it will be translated accurately into the native language of each country. English forms may not be readily understood by local supervisors. For example, clerical and office jobs do not always have identical requirements in all cultures. As a result, some U.S. multinational may be hesitant about evaluating HCNs and TCNs. In some countries, notably those that support the Communist ideology, all workers are rewarded only when the group performs with punishment or discipline being highly limited. For example, in the hotel industry in the Peoples Republic of China. Without the ability to reward good individual performance or to punish poor performance, there is little motivation to have any evaluation at all. Although the subject of international performance appraisal continues to receive research attention, two general recommendations have been suggested as follow: * Modify the normal performance criteria of the evaluation sheet for a particular position to fit the overseas position and site characteristics. Expatriates who have returned from a particular site or same country can provide useful input into revising criteria to reflect the possibilities and constraints of a given location. * Include a current expatriates insights as part of evaluation. This means that non-standardized criteria, which are difficult to measure, will be included, perhaps in different basis for each country. This creates some administrative difficulties at headquarters, but in long run will be a more equitable system. Bibliography 1. Peter J. Dowling, Denice E. Welch and Randall S. Schuler, International Human Resource Management Managing People in a Multinational Context, South Western College Publishing, 3rd Edition 2. Nancy J. Adler, International Dimensions of Organization Behavior, South Western College Publishing, 3rd Edition 3. David A. Decenzo, Stephen P. Robbins, Human Resourc Management, John Wiley Sons Inc., 7th Edition. 4. Ian Breadwell and Len Holden, Human resource management a contemporary approach, FT Prentice Hall, 3rd Edition

Myofascial Triggger Point Essay Example for Free

Myofascial Triggger Point Essay This chapter is the review of the available literature concerning the theoretic content that is necessary to understand the trapezius muscle and its role in the symptoms associated with upper back pain. Particularly the issues about the types of trigger points, including a discussion of myofascial trigger point therapy and acupuncture trigger point therapy. More importantly the awareness and understanding on how to improve the quality of life by learning about the alternative options, making changes and applying self-help strategies on myofascial trigger points. Given this points, a brief description of the topics are noted: It is painful to say that about 23 million persons, or 10 percent of the U. S. population, have one or more chronic disorders of the musculoskeletal system (Imamura, Fischer, Imamura, Teixeira, Tchia Kaziyama, (1997). The most common reason for the breakthrough of pain and rigidity in the head, neck and shoulder is the development of myofascial trigger points (MTrPs) activity in those areas. Factors responsible to set in motion trigger point in the muscles of the neck and shoulder region include postural disorders, drooping of the shoulder girdle, direct and indirect overloading of the neck muscles, acute trauma to the neck and anxiety (Baldry, 2002). For instance, the muscle most often affected by MTrPs is the trapezius muscle. Any position or task that requires the shoulders to carry out the weight of the upper extremities repeatedly or for prolonged periods of time overloads the upper trapezius muscle, and strongly boosts the development of MTrPs (Mense, 2001). Incidentally, MTrPs extremely common and became a painful part of nearly everyone’s life at one time or another. ), the upper trapezius active MTrPs are common in patients presenting neck pain (Simons Travell 1999). Surprising statistics suggested that neck pain has a lifetime incidence of 45%-54% in the general population (Fernandez-de-las-Penas, Alonso-Blanco Mangolarra, 2007). Trigger points are tender to direct pressure or squeezing, they are painful and they are palpable as hard nodules. Rachlin, 2005). In fact, Simons Travell (1999) has described pain due to TrPs is a cause of pain in all parts of the body and it has been reported as a source of pain in numerous medical conditions. Patients presenting mainly with upper body pain or headaches are more likely to MTrPs pain than patients presenting with pain located elsewhere (Rachlin, 2005). Indeed, therapy for MTrPs has been used by Bilkstad and Gemmell, (2008) with anecdotal success in patients with non-specific neck pa in. Gemmell and Allen’s (2008) study also proved that a session of trigger point therapy, has a clinical meaningful effects in the treatment of acute trigger points of the upper trapezius muscle. Certainly acupuncture for MTrPs is an effective and efficient technique for the treatment of myofascial pain and dysfunction. That is, an acupuncture needle is inserted through the skin and moved gently up and down through the MTrPs. The effect is to de-activate the trigger point and relax the muscle according to Travell and Simons (1999). Furthermore, studies of neck pain have proposed that manipulation is an effective therapy, especially when combined with exercise (Rubinstein, Leboeuf-Yde, Knol, de Koekkoek, Pfeifle van Tulder, 2008). Gatterman (2005) stated that chiropractic treatment of the spine has a relaxing effect on the spinal muscle and a loosening effect on spinal articulations, hence making a difference in a number of ailments drawn by cervical structure. Historical Background Review  Back to 1816, British physician Balfour, as cited by Stockman, described â€Å"nodular tumors and thickenings which were painful to the touch, and from which pains shot to neighboring parts† (Stockman, 1904 p. 107-116). In 1841, trigger points have been documented in western medicine research. In the European literature, regional musculoskeletal pain conditions have been documented since the 18th century (Reynolds, 1983). Dr. Janet Travell (1901-1997) is generally credited for bringing MTrPs to the attention of healthcare providers. MTrPs have been described and rediscovered for several centuries by various clinicians and researchers as far back as the 16th century, de Baillou (1538-1616), Ruhmann (1940) described what is now known as myofascial pain syndrome (MPS). Bron Dommerholt, ( 2012, p. 1) acknowledges, myofascial pain syndrome is defined as the â€Å"sensory, motor, and autonomic symptoms caused by Mypfascial Trigger Points†, and has become a recognized medical diagnosis among pain specialists. The first trigger point manual was published in 1931 in Germany nearly a decade before Dr.  Janet Travell became interested in MTrPs These early descriptions and other historic papers did illustrate the basic features of MTrPs quite accurately (Simons, 1975). In 1966, Dr. Travell founded the North American Academy of Manipulative Medicine, together with Dr. John Mennell, who also published several articles about MTrPs (Mennell, 1976-1989). In the early 1960s, Dr. David Simons was introduced to Dr. Travell and her work, which became the start of a fruitful collaboration eventually resulting in several publications, including the Trigger Point Manuals (Simons Travell 1999). The Trigger Point Manuals are the most comprehensive review of nearly 150 muscle referred-pain patterns based on Dr. Travell’s clinical observations, and they include an extensive review of the scientific basis of MTrPs. Both volumes have been translated into several foreign languages. These books are considered the definitive reference on myofascial pain and locating trigger points. Trapezius Muscle This diamond shape muscle is situated in the neck and upper part of the back and lies most superficially (Moore Dalley, 2006). It was given its name because the muscles of the two sides form a trapezium. The main action of the trapezius is to aid in head, neck and the clavicle movement. The trapezius commonly contains trigger points, and referred pain from these trigger points bring patients to the office more often than for any other problem. Figure 2. 1 shows the trapezius- a large kite-shaped muscle, covering much of the back and posterior neck. There are three main parts to the muscle: the Upper, middle, and lower part. Each part has its own actions and often different functions. Figure 2. 1 Trapezius Muscle Namely the upper portion of the trapezius muscle laterally flexes the head and the neck towards the same side, and assists in extreme rotation of the head so that the face turns to the opposite side. It can draw the clavicle backwards and raise it by rotating the clavicle. It usually helps to carry the weight of the upper limb during standing, or support a weight in the hand with the arm hanging. Acting bilaterally, the upper fibers extend the head and the neck . The upper trapezius can reflect headaches on the temples, dizziness, severe neck pain, intolerance to weight on your shoulders. While the middle trapezius reflects pain on the mid-back, headaches at the base of your skull and superficial burning pain close to the spine. On the other hand lower trapezius on the mid-back refers pain to the neck, and/or upper shoulder region (Simons Travell, 1999). Figure 2. 2 Trapezius Trigger Points Myofascial Trigger Points The word myofascial means muscle tissue (myo) and the connective tissue in and around it (fascia). According to the most commonly accepted theory, a myofascial trigger point ( Figure 2. ) is an area of hypersensitivity in a taut band, or contraction knot of skeletal muscle with respect to pain (Simons, et al. , 1999), as opposed to healthy muscle, which does not contain taut bands or trigger point (Shah, et al. 2005). The trigger point feels like a pea embedded within the muscle to the touch. A trigger point is always tender and becomes painful, like contracted knots that refers pain and tightness upon direct compression and is mediated by a local twitch response (Hong, 2006; Simons et al. , 1999; Simons, 2004). Auleciems (1995) furthermore researched the incidence of MPS, reported to be as high as 85% at certain American pain clinics. Figure 2. 3 Myofascia Trigger Point Taut Band Myofascial Trigger Point Development There are existing studies to account for the development of trigger points and subsequent pain patterns, but scientific evidence is lacking. Many researchers concur that an acute injury or repetitive small injuries may lead to the development of a trigger point which creates some degree of tissue damage (Rachlin, 2005). The damage to muscle and connective tissue can befall several ways. From lack of exercise, prolonged poor posture, vitamin deficiencies, sleep disturbances, and joint problems (Simons Travell, 1999). Examples of predisposing activities such as typing/moussing, handheld electronics, gardening, home improvement projects, work environments, holding a telephone receiver between the ear and shoulder to free arms; prolonged bending over a table; sitting in chairs with poor back support, improper height of arm rests or none at all (Simpson McCarthy, 2001); sustained loading as with heavy lifting, carrying babies, briefcases, boxes, wearing body armor or lifting bedridden patients. Injury from falling down stairs or whiplash injury in a motor vehicle accident (Lavelle, Lavelle, Susti, 2007). Myofascial Trigger Point Classification Trigger points are classified as being active or latent. The active, painful phase of the trigger point is the one which motivates people to seek relief. The active trigger point hurts when pressed with a finger and causes pain around it and in other areas. (Hong, 2006; Simons, 2004). The active trigger point referral symptom may feel like a dull ache, deep, pressing pain, burning, or a sensation of numbness and fatigue. If unaddressed or ineffectively treated, eventually other muscles around the dysfunctional one become stressed and develop secondary trigger points. It is not unusual for chronic pain patients to have multiple, overlapping referred pain patterns, making diagnosis and treatment more complex. Trigger points can also lie quietly in muscles, sometimes for years. This type of trigger point is called latent. Latent trigger points are very common. Probably one wont know they are there for the fact that they cause pain unless it is compressed. Latent trigger points cause restricted movement, distorted muscle movement patterns; stiffness and weakness of the affected muscle (Fricton, Kroening, Haley Siegert, 1985). When firm pressure is applied over the trigger point in a snapping often causes the muscle to â€Å"jump† or briskly contract a â€Å"local twitch response† (Simons et al. , 1999). The reaction of a twitch response during palpation of a trigger point, or during a trigger point release procedure, is a reliable confirmation that the trigger point has been accurately located. When a trigger point in one muscle can create pain in another area it is known as referred pain. This referred pain is felt not at the site of the trigger-point origin, but remote from it (Mense Schmit, 1977). For example (Figure. 2. 4), a primary trigger point in the upper trapezius muscle refers pain to the temple region of the head. All muscle tissue is potentially prone to developing trigger points. Fig. 2. 4 Referred Pain from Trapezius Trigger Points Treatment of Myofascial Trigger Points As a matter of fact treating each trigger point is relatively simple. Treating the whole myofascial pain syndrome so that pain fully goes away is a more complicated process. Pharmacologic treatment of patients with chronic muscle pain includes analgesics and medications to induce sleep and relax muscles. Antidepressants, anti-inflammatory drugs are often prescribed (Imamura et al. , 1997). The long-term clinical efficacy of various therapies is not clear, because data that incorporate pre- and post-treatment assessments with control groups are not available. No laboratory test or imaging technique has been established for diagnosing trigger points (Fricton et al. , 1985). However, the use of ultrasonography, electromyography, thermography, and muscle biopsy has been studied. A variety of hands-on skills, such as stretching, massage, manipulation, mobilization and strengthening (Simons, 2002), and a wide variety of modalities namely, diathermy, transcutaneous electrical nerve stimulation, ethyl chloride Spray and Stretch technique, dry needling, and trigger-point injections with local anesthetic, saline, or steroid heat, ice, ultrasound, electrical stimulation, mechanical pressure and light energy, are available to physicians and therapists for the treatment of trigger points (Edward Knowles, 2003). For instance trigger point therapies can help specifically a number of health issues such as: 1) Relieve migraine and headache 2) Alleviate low-back pain and improve range of motion Ease dependence over the counter or prescription medication 3) Release endorphins that work as the bodys natural painkiller 4) Enhance immunity by stimulating the bodys natural defense system. 5) Increase blood flow to bring oxygen (Dommerholt Huijbregts (2011, p. 18 ). The proposed principle of treatment of MPS is to inactivate the active MTrPs through the use of various therapeutic modalities (Hong, C. 2000). However, the various treatments are beyond the scope of this study, the main focus here is to determine the efficacy of acupuncture and myofascial trigger point therapy for upper back pain. Acupuncture Trigger point pain may result from old or new injuries, excessive work out, incorrect body mechanics and poor body posture. In this light, acupuncture treatments can help return the balance to muscles. It is one of the safest ways to address physical problems. Using FDA-approved grade of acupuncture needles, it stimulates the muscle fibers, generating involuntary twitching of muscles located on the suspect trigger point (Figure 2. 5). Usually leads to an immediate reduction of the tightness as well as a reduction or elimination of the related problems (Scholar Hong, 2000. Aside from relieving muscles from stress, acupuncture treatment releases endorphins, boosts the nervous system, enhances the immune system, and causes a number of other biochemical and hormonal changes (Napadow, Webb, Pearson, et al. , 2006). Acupuncture is a time proven and safe method to optimize health. In restoring balance to brain and nervous system functions, it helps regulate blood pressure, blood flow and body temperature, which is indirectly beneficial to managing and relieving body stressor (Birch, Hesselink, Jonkman, et al. , (2004).

Pakistan Microfinance Sector Analysis

Pakistan Microfinance Sector Analysis The aim of this study refers to highlighting the key challenges and prospects for the microfinance sector of Pakistan. Being practiced since last few years, microfinance is considered to be an imperative financing practiced by financial institutions for the development of countrys economy. This study has been carried out using the following four steps: present scenario of microfinance in Pakistan, identification of internal and external challenges, prospects in microfinance, and policy recommendations to boost microfinance sector in Pakistan. In this research, microfinance framework has been used to better understand the process of building a sustainable microfinance institution. The findings have been obtained through Primary data which has been collected by sending 80 questionnaire surveys to microfinance sector. The companies that have participated are banks and other financial institutions. This research contributes in three ways. First, microfinance institutions will be facilita ted in highlighting the challenges and prospects that are being neglected in the process of analyzing the problems and opportunities faced by this sector. Second, other financial institutions and banks, realizing the significance of this business, will get encouragement to enter this sector with more innovative products and better standard practices. Thirdly, it will help the country in coming up with new strategies for micro financing. Moreover, microfinance sector may start conducting more training sessions to enhance the skills of the clients which will impact positively on this sector. INTRODUCTION Statement of the Problem Poverty cannot be illustrated, it can be experienced. One knows more about it when he is starving and can not manage to pay for food. He and his children want new cloths on festivals but can not buy these, due to low income. He is sick, but he is not able to buy medicine. He wants to send his children to school, but can not bear the expenses. He wants to be appreciated in society, but is treated poorly by the institutions of the state and society. He is voice less and incapable (Gobind M et al,2008). Poor people save all the time, although mostly in informal ways. They invest in assets such as gold, jewelry, domestic animals, building materials, and things that can be easily exchanged for cash. They may set aside corn from their harvest to sell at a later date. They bury cash in the garden or stash it under the mattress. They participate in informal savings groups where everyone contributes a small amount of cash each day, week, or month, and is successively awarded the pot on a rota ting basis. Some of these groups allow members to borrow from the pot as well. The poor also give their money to neighbors to hold or pay local cash collectors to keep it safe. However widely used, informal savings mechanisms have serious limitations. It is not possible, for example, to cut a leg off a goat when the family suddenly needs a small amount of cash. In-kind savings are subject to fluctuations in commodity prices, destruction by insects, fire, thieves, or illness (in the case of livestock). Informal rotating savings groups tend to be small and rotate limited amounts of money. Moreover, these groups often require rigid amounts of money at set intervals and do not react to changes in their members ability to save. Perhaps most importantly, the poor are more likely to lose their money through fraud or mismanagement in informal savings arrangements than are depositors in formal financial institutions. The concept of microfinance was launched to help the poor population of the world. The significance of microfinance cannot be neglected for the development of any economy. Microfinance encourages poor households to consume their funds in productive activities by providing them small amount of loans. Poor household refers to low-income people who traditionally lack access to banking and other related financial services. The concept tend to empower would-be entrepreneurs to take up a trade for living, allow them to start earning, and thus to provide their families with income stability. The income that generates from such businesses not only helps in expanding those activities but also contributes to the income of the household bringing benefits for the whole family. In Pakistan, about one-third of the population is Å“un-banked?, or lacking access to finance, which if appropriately tapped can offer tremendous opportunities to both banking institutions and businesses. As a step towards mainstreaming the un-banked, SBP has envisaged increasing the size of micro and small enterprise (MSE) financing from one million borrowers to four million borrowers, and from Rs.1 billion to four billion by the year 2010. In this context, increasing institutional outreach and sinking micro financing in to the sector are considered pivotal strategies. Other areas of interest include regulatory regimes, product and process innovations, relationship management and monitoring, and market intelligence data (Sohailuddin Alavi, 2007). According to ILO (2005) cited by Dahri (2007) it is concluded that the reality for most of the worlds poor is that they have to work often for long hours, in poor working conditions and without basic rights and presentation- at work that is not productive enough to enable them to themselves and their families out of poverty, it is Å“decent and productive? employment that matters, not employment alone. In developing countries, so many strategies have been put into practice and research has been done but it is felt that it is not enough and research should remain continue in light of latest reports and research to highlight the challenges and opportunities of microfinance. These studies are helping in bringing new strategies into practice. As Pakistan is also a developing country, further suggestions would help to overcome the challenges faced by microfinance and avail the opportunities that exist for this kind of financing. To keep these things in mind attempt has been made to iden tify the internal, external challenges and opportunities as special objective in this study. LITERATURE REVIEW The great challenge before us is to address the constraints that exclude people from full participation in the financial sector. Together, we can and must build inclusive financial sectors that help people improve their lives.(Kofi Annan, 2007). However, poverty is a widespread problem found in the rural areas of Pakistan, as almost 28 per cent of the total rural households is categorized as poor. In this regard, the provision of credit, especially micro-credit, has now become an effective tool and a successful strategy for poverty eradication. In Pakistan over the past few years, the number of active borrowers has increased by 85 per cent while total outstanding loans grew by 115 per cent (Economic Survey of Pakistan, 2005-2006). The broader definition of microfinance includes not only microcredit but also other financial services, which can be offered to the poor. Interested economists found soon that not only small credits but also other services connected with lending could improve economic lives of the poorest (Bauer, Chytilova Morduch, 2008). Most MFIs connect their credit services also with educational or saving programs or business trainings, retraining scheme or technical trainings. Logically, the investments can turn out to be more profitable when the people have access to training, which can enhance their skills. Historically, the goal of microfinance was the alleviation of poverty. For many years, microfinance had this primary social objective and so traditional MFIs consisted only of non-governmental organizations (NGO), specialized microfinance banks and public sector banks. Although the Microfinance sector has reached a maturity stage over the last three decades, but the capacity of operational level staffs has not enhanced to that extent (Hassan Islam, 2008) A variety of studies have found a few key strengths and positive impacts produced by the implementation of microfinance programs in poor and impoverished areas of the world. First, microfinance programs can be an effective way to provide low?cost financial services to poor individuals and families (Stephens Tazi 2006). Second, such programs have been shown to help in the development and growth of the local economy as individuals and families are able to move past subsistence living and increase disposable income levels (Khandker, 2005). MFIs should take initiatives to upscale their Microenterprise clients to SME level and provide necessary support to link these clients with mainstream financial institutions. The MFIs should take responsibilities of their clients managerial skill development training (Hassan Islam, 2008). In addition, many studies (primarily microfinance institution impact studies and academic researcher qualitative or case studies) have shown that microfinance programs were able to reduce poverty through increasing individual and household income levels, as well as improving healthcare, nutrition, education, and helping to empower women. For example, standard of living increases, which help to eradicate extreme poverty and hunger, have occurred at both the individual and household levels as a result of microfinance programs (Khandker, 2005). Furthermore, it has been demonstrated by some research that microfinance programs increase access to healthcare, making preventative healthcare measures more affordable to the poor (Morduch, 1998). Finally, it has been shown that such programs can help borrowers to develop dignity and self-confidence in conjunction with loan repayment, and self?sufficiency as a means for sustainable income becomes available.The Microfinance Summit Campaign Report (2006) estimates that there are now more than 3,000 microfinance institutions, serving more than 100 million poor people in developing countries. The total cash turnover of these institutions world-wide is estimated at $2.5 billion and the potential for new growth is outstanding.One individual who gained worldwide recognition for his work in microfinance is professor Muhammad Yunus who, with Grameen Bank, won the 2006 Nobel Peace Prize. Yunas and Grameen Bank demonstrated that the poor have the ability to pull themselves out of poverty. Yunus also demonstrated that loans made to the working poor, if properly structured, had very high repayment rates. His work caught the attention of both social engineers and profit-seeking investors (Grameen Bank, 2008). Some key strengths and positive impacts of microfinance programs in poor and impoverished areas of the world that; Microfinance programs can be an effective way to provide low-cost financial services to poor individuals and familie s (Stephens Tazi 2006). Such programs help in the development and growth of the local economy allowing individuals and families to move past subsistence living, and therefore increases their disposable income levels (Khandker 2005). Negative impacts of microfinance and microcredit programs are that; microfinance programs benefit the moderately poor more than the destitute, and thus impact can vary by income group (better-off benefit more from microcredit) (Jonathan Barbara 2002; Morduch, 1998; Dugger, 2004). Both formal and semi-formal financial institutions cover a very small share of MFIs markets as compared to informal market (Aleem, 1990). Hassan and Islam (2008) in a study conclude that, uplifting of client, managerial skill development programs for both client and staff of MFI and governmental policies can uplift the MFI growth which in turn has positive impact on overall macroeconomic growth of country. Moreover, the studies conducted on micro-credit were mainly based on the impact assessment of the programme. Realizing the situation, there is a need for an empirical study to analyze the factors that determine challenges faced by MFIs and future prospects in microfinance programme. Objectives of the Study The objectives of the study are: To explore the present scenario of MF in Pakistan To identify the challenges faced by MFIs in Pakistan To identify the internal and external constraints of MFIs in Pakistan. To provide policy recommendations to boost MFIs sector in Pakistan RESEARCH METHODOLOGY Conceptual Frame Work Utilizing the above mentioned details, a framework is suggested for MFI. Generic Framework for Building Sustainable Micro Finance Bank (MFB) Source: SOHAILUDDIN ALAVI (2007) Å“Microfinance in Pakistan: Challenges and Prospects?, journal of the Institute of Bankers Pakistan Volume 74, Issue No. 3 page 52-61 Data Collection In this research study, primary data has been obtained from questionnaire survey. The primary data here has been collected through a comprehensive questionnaire in this research. Primary data There are several choices for primary data collection i.e. survey (questionnaire), interview, observations and experiments. These choices are shown in below figure. The primary data here has been collected through a comprehensive questionnaire in this research. Primary Data Sources Source: Ghauri, P. Gronhaug, K. (2005). Å“Research Methods in business Studies?, 3ed. Prentice Hall. Size of the Sample The questionnaire was distributed to 80 executives in four different MFIs. These executives have the responsibility of key customers identification, analysis and operational activities involved in the management process. Out of the 80 respondents 54 (67.50%) have responded. The author has done the convenience sampling due to the limitations. Questionnaire We have divided this Questionnaire into three segments; External Challenges Internal Challenges Prospects First and second section measure challenges, both internal and external faced by MFI and third section addresses the future prospects for MFI. Each section is based on separate research objectives. Only closed-ended questions are included in the questionnaire. In closed-ended questions Likert-scale method (Proctor, T. 2005) is used for response. Seven different scaling options are included in Likert-scale method to minimize the response biasness. The scales: strongly agree, agree, slightly agree, neither agree nor disagree, slightly disagree, disagree and strongly disagree are assigned ranks from 1- 7 respectively. DATA AND METHODOLOGY Data and Sampling As we have limited MFIs in the country so author has distibuted 80 questionnaires and 54 responses are received (67.50%) from Karachi, Islamabad and Lahore cities. In the above section, the six factors highlighted addressees the external challenges of MFIs in the market of Pakistan. Govt.s due importance to the sector Staff trainings by the MFIs Utilizations of the loans Importance of clients skills development by the MFIs Islamic point of view Local norms Its clear from the table 1(b) that Å“Government is giving due importance to MFI?, out of 54 respondents 78% response positively and 22% in negative. It means Government considers MFI as a very important sector in the country development process. Second question is about Microfinance Institutions staffs training level; there is 50% response in positive and 50% in negative. This indicates that MFI staff working in market needs adequate training. Ultimately, their training may draw some positive impact on MFI sector in specific, and at large it may benefit the countrys economy. Third and the most important factor about the utilization of loan money by client, surprisingly 70% of respondents say that loans are used for investment purpose by client and not for personal consumption. However, 30% of respondents believe that loan taken by client is used for their private consumption. The fourth question is about MFI attitude towards clients skills development shows; only 26% of responses are positive and 74% responded negatively. This result indicates a gap for policy makers of MFIs concluding that they are not putting due efforts in their business because their client is usually not only poor but also lacking management and other skills. Further research can be done on the level of skill of client and the growth of their business and relationship with MFI. The second last question in the first section addresses the perception of the client about financial institute in religious perspective; 80% of respondents are positive that financial intuitions are largely perceived as non-Islamic. This issue can be resolved by focusing on the establishment of Islamic MFIs or marketing the concept of microfinance more aggressively. Final question is about the norms restrictions on the financial sector, again 53% of responses are positive about the existence of such norms and 43% are negative. We may say that in future these norms may go to decline. Internal Challenges The section 2 of the challenges is about the key internal challenges faced by MFI. We have discussed six different internal challenges; the first and probably the most important challenge is about the availability of other cheaper financial resources. 74% of the respondents agree that the availability of other cheaper source of finance is a great challenge for them and 36% responded in opposite. This indicates the fact that the cost of borrowing is high for small borrowers. Effort should be done to make small loans available at some competitive cost in comparison to other financial products. About the limited physical presence of MFI, 87% response is positive and only 13% is negative, which again reveals the gap for policy makers that the limited presence may be the major cause of low performance and growth of MFI sector. The third question is about the general inability of MFIs about risks and standard practices; 52% responded positively about the situation but 48% do not agree. We may say that there is a great need for MFIs to mitigate the risk factors and adopt the standard practices. The fourth question is about the incompatibility of conventional banking with the need of microfinance product; 52% of respondents are positive about the inaptness of conventional banking with microfinance product need while 48% do not agree that there is incompatibility of microfinance need and traditional banking. So we may say that a second majority of MFI believes that conventional banking system can also cater to the need of microfinance product. The second last question of this section is about the availability of quality human resource in comparison to other financial institutions; 48% of the respondents are positive about the availability of quality human resource due to scare funds while 52% do not agree. This shows that availability of quality human resource is not much of an issue in MFIs. Final question is about the lacking in value chain and delivery process of mic rofinance product; a majority of 59% is positive that there are lacking in value chain and delivery process, but 37% are of opposite view and 4% are uncertain about the answer to this question. Prospects/Opportunities The third and the last section is about the opportunities for MFIs, first question is about the promotion of different kinds of business through MFIs; 56% of respondents are positive that MFIs are promoting all kinds of business and 44% do not agree. The second majority of respondents believe that MFIs are not addressing all kinds of business. Hence, there is a need to look at the different kinds of businesses served by MFIs. In the question about the role of MFI,s in reduction of poverty, 83% are positive about the role of MFI in poverty reduction, while a minority of 17% do not agree. The fourth question about the role of MFI in economic growth of country; 100% respondents advocate that MFIs are working for the economic development. 100% respondents are positive that MFIs are not only working against poverty but also playing some other roles too in economy. Finally a 70% of respondents are positive about the alliance of commercial banks and MFIs , 13% do not agree about the allianc e and 17% are uncertain. CONCLUSION AND RECOMMENDATION In this study, conclusions will be drawn on the basis of literature review and analysis made through market research. The reasearch is divided into two parts: conclusions and recommendations. Conclusions From this study we conclude that; Government is providing due importance to MF sector. MFIs staff needs training which can impact positively on MF Sector. A majority of 70% believe that loan is utilized in investments activities rather than personal consumption. MFIs have very low attention toward its clients skill development. A majority of population perceive MFIs and other financial services against their religious beliefs. Lastly norms and culture poses threats to MFIs and Banks. Cost of microfinance is relatively high in compassion to other financial products. Standards of practices and processes need improvement in MFIs. Alliance of commercial banking and microfinance is viewed as positive. Recommendations MFIs staff working in market needs adequate training. Ultimately, their training will draw some positive impacts on MFI sector in specific and may also benefit the economy of the country at large. MFIs are not putting due efforts in their business because their client is usually not only poor but also lacking management and other skills. Further research can be done on the level of skills of the client and growth of his/her business to elaborate the different skill levels. There may be a need of Islamic MFIs or marketing the concept of microfinance more aggressively to avoid the potential biasness in financial organizations. Effort should be done to make small loans available at some competitive cost in comparison to other financial products. There is a great need for MFIs to mitigate the risk factor and adopt the standard practices. Limitation of Research This study had the following limitations The author was not able to distribute the questionnaire to company executives all over the country. Time period to conduct the study was very limited. Some of the respondents did not answer the questions seriously Sample size was limited to 3 cities only which cannot be easily applicable to all population of Pakistan. The questionnaire was sent to respondents through e-mail. It was not feasible for the author to conduct the interviews personally. All respondents cant maintain same level of accuracy in answering the questions due to lack of time and interest. It may create little discrepancy to some extent in formulating the conclusions. Refrences www.sbp.org.pk/publications/prudential/micro_prs.pdf www.sbp.org.pk/l_frame/MF_Bank_Ord_2000.pdf Kofi, Annan. UN secretary,.2007. Avalibale atÂÂ  : http://www.diplomatie.be/en/travel/visa/default.asp Herani, Gobind M, Rajar , Allah Wasayo, Wasim, Mohammad Pervez and Shaikh, Riaz Ahmed., 2008. The Nature of Poverty and Its Prospects: Pakistan Evidence. Journal of Global Economy ,4(3), pp. 183-194. Global Monetary and Financial System: Principal Issues. Journal of the Institute of Bankers Pakistan , 74 (2) pp 1-6 Available at:www.ibp.org.pk/journal/Journal-Apr-Jun-2007.pdf Pakistan Statistical Profile Available at: agingandwork.bc.edu/documents/CP03_Workforce_Pakistan.pdf M. Bauer, J. ChytilovÃÆ'Â ¡, J. Morduch., 2008.Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India. American Economic Review,59 (1) pp71-86 Rashed Al Hasan., K.M. Zahidul Islam., 2008. Bridging the Gap between Microfinance and SME Financing in Bangladesh: Unlocking the Potentials. Daffodil International University Journal of Business and Economics, 3.(1), pp 41-57 Shahidur R. Khandker., 2005.Microfinance and Poverty: Evidence Using Panel Data from Bangladesh .The World Bank Economic Review, 19(2), pp263-286 Jonathan Morduch., 1998. Does Microfinance Really Help the Poor? New Evidence from Flagship Programs in Bangladesh, Department of Economics and HIID Harvard University. Available at: www.princeton.edu/rpds/papers/pdfs/morduch_microfinance_poor.pdf Grameen Bank. Available at: http://www.grameen-info.org/ Dugger, Celia W. 2004. Å“Debate Stirs over Tiny Loans for Worlds Poorest.? New York Times. Morduch, J., and Haley, B. (2002), ËÅ"Analysis of the Effects of Microfinance on Poverty Reduction, NYU Wagner Working Paper No. 1014 Available at: http://www.nyu.edu/wagner/workingpapers.html Briefing Note Summary of the Poverty and Social Impact Assessment: Pakistan Microfinance Policy May 2006 Available at: www. pipl.com/directory/name/Tazi/Hind Pakistan Microfinance Sector Analysis Pakistan Microfinance Sector Analysis The aim of this study refers to highlighting the key challenges and prospects for the microfinance sector of Pakistan. Being practiced since last few years, microfinance is considered to be an imperative financing practiced by financial institutions for the development of countrys economy. This study has been carried out using the following four steps: present scenario of microfinance in Pakistan, identification of internal and external challenges, prospects in microfinance, and policy recommendations to boost microfinance sector in Pakistan. In this research, microfinance framework has been used to better understand the process of building a sustainable microfinance institution. The findings have been obtained through Primary data which has been collected by sending 80 questionnaire surveys to microfinance sector. The companies that have participated are banks and other financial institutions. This research contributes in three ways. First, microfinance institutions will be facilita ted in highlighting the challenges and prospects that are being neglected in the process of analyzing the problems and opportunities faced by this sector. Second, other financial institutions and banks, realizing the significance of this business, will get encouragement to enter this sector with more innovative products and better standard practices. Thirdly, it will help the country in coming up with new strategies for micro financing. Moreover, microfinance sector may start conducting more training sessions to enhance the skills of the clients which will impact positively on this sector. INTRODUCTION Statement of the Problem Poverty cannot be illustrated, it can be experienced. One knows more about it when he is starving and can not manage to pay for food. He and his children want new cloths on festivals but can not buy these, due to low income. He is sick, but he is not able to buy medicine. He wants to send his children to school, but can not bear the expenses. He wants to be appreciated in society, but is treated poorly by the institutions of the state and society. He is voice less and incapable (Gobind M et al,2008). Poor people save all the time, although mostly in informal ways. They invest in assets such as gold, jewelry, domestic animals, building materials, and things that can be easily exchanged for cash. They may set aside corn from their harvest to sell at a later date. They bury cash in the garden or stash it under the mattress. They participate in informal savings groups where everyone contributes a small amount of cash each day, week, or month, and is successively awarded the pot on a rota ting basis. Some of these groups allow members to borrow from the pot as well. The poor also give their money to neighbors to hold or pay local cash collectors to keep it safe. However widely used, informal savings mechanisms have serious limitations. It is not possible, for example, to cut a leg off a goat when the family suddenly needs a small amount of cash. In-kind savings are subject to fluctuations in commodity prices, destruction by insects, fire, thieves, or illness (in the case of livestock). Informal rotating savings groups tend to be small and rotate limited amounts of money. Moreover, these groups often require rigid amounts of money at set intervals and do not react to changes in their members ability to save. Perhaps most importantly, the poor are more likely to lose their money through fraud or mismanagement in informal savings arrangements than are depositors in formal financial institutions. The concept of microfinance was launched to help the poor population of the world. The significance of microfinance cannot be neglected for the development of any economy. Microfinance encourages poor households to consume their funds in productive activities by providing them small amount of loans. Poor household refers to low-income people who traditionally lack access to banking and other related financial services. The concept tend to empower would-be entrepreneurs to take up a trade for living, allow them to start earning, and thus to provide their families with income stability. The income that generates from such businesses not only helps in expanding those activities but also contributes to the income of the household bringing benefits for the whole family. In Pakistan, about one-third of the population is Å“un-banked?, or lacking access to finance, which if appropriately tapped can offer tremendous opportunities to both banking institutions and businesses. As a step towards mainstreaming the un-banked, SBP has envisaged increasing the size of micro and small enterprise (MSE) financing from one million borrowers to four million borrowers, and from Rs.1 billion to four billion by the year 2010. In this context, increasing institutional outreach and sinking micro financing in to the sector are considered pivotal strategies. Other areas of interest include regulatory regimes, product and process innovations, relationship management and monitoring, and market intelligence data (Sohailuddin Alavi, 2007). According to ILO (2005) cited by Dahri (2007) it is concluded that the reality for most of the worlds poor is that they have to work often for long hours, in poor working conditions and without basic rights and presentation- at work that is not productive enough to enable them to themselves and their families out of poverty, it is Å“decent and productive? employment that matters, not employment alone. In developing countries, so many strategies have been put into practice and research has been done but it is felt that it is not enough and research should remain continue in light of latest reports and research to highlight the challenges and opportunities of microfinance. These studies are helping in bringing new strategies into practice. As Pakistan is also a developing country, further suggestions would help to overcome the challenges faced by microfinance and avail the opportunities that exist for this kind of financing. To keep these things in mind attempt has been made to iden tify the internal, external challenges and opportunities as special objective in this study. LITERATURE REVIEW The great challenge before us is to address the constraints that exclude people from full participation in the financial sector. Together, we can and must build inclusive financial sectors that help people improve their lives.(Kofi Annan, 2007). However, poverty is a widespread problem found in the rural areas of Pakistan, as almost 28 per cent of the total rural households is categorized as poor. In this regard, the provision of credit, especially micro-credit, has now become an effective tool and a successful strategy for poverty eradication. In Pakistan over the past few years, the number of active borrowers has increased by 85 per cent while total outstanding loans grew by 115 per cent (Economic Survey of Pakistan, 2005-2006). The broader definition of microfinance includes not only microcredit but also other financial services, which can be offered to the poor. Interested economists found soon that not only small credits but also other services connected with lending could improve economic lives of the poorest (Bauer, Chytilova Morduch, 2008). Most MFIs connect their credit services also with educational or saving programs or business trainings, retraining scheme or technical trainings. Logically, the investments can turn out to be more profitable when the people have access to training, which can enhance their skills. Historically, the goal of microfinance was the alleviation of poverty. For many years, microfinance had this primary social objective and so traditional MFIs consisted only of non-governmental organizations (NGO), specialized microfinance banks and public sector banks. Although the Microfinance sector has reached a maturity stage over the last three decades, but the capacity of operational level staffs has not enhanced to that extent (Hassan Islam, 2008) A variety of studies have found a few key strengths and positive impacts produced by the implementation of microfinance programs in poor and impoverished areas of the world. First, microfinance programs can be an effective way to provide low?cost financial services to poor individuals and families (Stephens Tazi 2006). Second, such programs have been shown to help in the development and growth of the local economy as individuals and families are able to move past subsistence living and increase disposable income levels (Khandker, 2005). MFIs should take initiatives to upscale their Microenterprise clients to SME level and provide necessary support to link these clients with mainstream financial institutions. The MFIs should take responsibilities of their clients managerial skill development training (Hassan Islam, 2008). In addition, many studies (primarily microfinance institution impact studies and academic researcher qualitative or case studies) have shown that microfinance programs were able to reduce poverty through increasing individual and household income levels, as well as improving healthcare, nutrition, education, and helping to empower women. For example, standard of living increases, which help to eradicate extreme poverty and hunger, have occurred at both the individual and household levels as a result of microfinance programs (Khandker, 2005). Furthermore, it has been demonstrated by some research that microfinance programs increase access to healthcare, making preventative healthcare measures more affordable to the poor (Morduch, 1998). Finally, it has been shown that such programs can help borrowers to develop dignity and self-confidence in conjunction with loan repayment, and self?sufficiency as a means for sustainable income becomes available.The Microfinance Summit Campaign Report (2006) estimates that there are now more than 3,000 microfinance institutions, serving more than 100 million poor people in developing countries. The total cash turnover of these institutions world-wide is estimated at $2.5 billion and the potential for new growth is outstanding.One individual who gained worldwide recognition for his work in microfinance is professor Muhammad Yunus who, with Grameen Bank, won the 2006 Nobel Peace Prize. Yunas and Grameen Bank demonstrated that the poor have the ability to pull themselves out of poverty. Yunus also demonstrated that loans made to the working poor, if properly structured, had very high repayment rates. His work caught the attention of both social engineers and profit-seeking investors (Grameen Bank, 2008). Some key strengths and positive impacts of microfinance programs in poor and impoverished areas of the world that; Microfinance programs can be an effective way to provide low-cost financial services to poor individuals and familie s (Stephens Tazi 2006). Such programs help in the development and growth of the local economy allowing individuals and families to move past subsistence living, and therefore increases their disposable income levels (Khandker 2005). Negative impacts of microfinance and microcredit programs are that; microfinance programs benefit the moderately poor more than the destitute, and thus impact can vary by income group (better-off benefit more from microcredit) (Jonathan Barbara 2002; Morduch, 1998; Dugger, 2004). Both formal and semi-formal financial institutions cover a very small share of MFIs markets as compared to informal market (Aleem, 1990). Hassan and Islam (2008) in a study conclude that, uplifting of client, managerial skill development programs for both client and staff of MFI and governmental policies can uplift the MFI growth which in turn has positive impact on overall macroeconomic growth of country. Moreover, the studies conducted on micro-credit were mainly based on the impact assessment of the programme. Realizing the situation, there is a need for an empirical study to analyze the factors that determine challenges faced by MFIs and future prospects in microfinance programme. Objectives of the Study The objectives of the study are: To explore the present scenario of MF in Pakistan To identify the challenges faced by MFIs in Pakistan To identify the internal and external constraints of MFIs in Pakistan. To provide policy recommendations to boost MFIs sector in Pakistan RESEARCH METHODOLOGY Conceptual Frame Work Utilizing the above mentioned details, a framework is suggested for MFI. Generic Framework for Building Sustainable Micro Finance Bank (MFB) Source: SOHAILUDDIN ALAVI (2007) Å“Microfinance in Pakistan: Challenges and Prospects?, journal of the Institute of Bankers Pakistan Volume 74, Issue No. 3 page 52-61 Data Collection In this research study, primary data has been obtained from questionnaire survey. The primary data here has been collected through a comprehensive questionnaire in this research. Primary data There are several choices for primary data collection i.e. survey (questionnaire), interview, observations and experiments. These choices are shown in below figure. The primary data here has been collected through a comprehensive questionnaire in this research. Primary Data Sources Source: Ghauri, P. Gronhaug, K. (2005). Å“Research Methods in business Studies?, 3ed. Prentice Hall. Size of the Sample The questionnaire was distributed to 80 executives in four different MFIs. These executives have the responsibility of key customers identification, analysis and operational activities involved in the management process. Out of the 80 respondents 54 (67.50%) have responded. The author has done the convenience sampling due to the limitations. Questionnaire We have divided this Questionnaire into three segments; External Challenges Internal Challenges Prospects First and second section measure challenges, both internal and external faced by MFI and third section addresses the future prospects for MFI. Each section is based on separate research objectives. Only closed-ended questions are included in the questionnaire. In closed-ended questions Likert-scale method (Proctor, T. 2005) is used for response. Seven different scaling options are included in Likert-scale method to minimize the response biasness. The scales: strongly agree, agree, slightly agree, neither agree nor disagree, slightly disagree, disagree and strongly disagree are assigned ranks from 1- 7 respectively. DATA AND METHODOLOGY Data and Sampling As we have limited MFIs in the country so author has distibuted 80 questionnaires and 54 responses are received (67.50%) from Karachi, Islamabad and Lahore cities. In the above section, the six factors highlighted addressees the external challenges of MFIs in the market of Pakistan. Govt.s due importance to the sector Staff trainings by the MFIs Utilizations of the loans Importance of clients skills development by the MFIs Islamic point of view Local norms Its clear from the table 1(b) that Å“Government is giving due importance to MFI?, out of 54 respondents 78% response positively and 22% in negative. It means Government considers MFI as a very important sector in the country development process. Second question is about Microfinance Institutions staffs training level; there is 50% response in positive and 50% in negative. This indicates that MFI staff working in market needs adequate training. Ultimately, their training may draw some positive impact on MFI sector in specific, and at large it may benefit the countrys economy. Third and the most important factor about the utilization of loan money by client, surprisingly 70% of respondents say that loans are used for investment purpose by client and not for personal consumption. However, 30% of respondents believe that loan taken by client is used for their private consumption. The fourth question is about MFI attitude towards clients skills development shows; only 26% of responses are positive and 74% responded negatively. This result indicates a gap for policy makers of MFIs concluding that they are not putting due efforts in their business because their client is usually not only poor but also lacking management and other skills. Further research can be done on the level of skill of client and the growth of their business and relationship with MFI. The second last question in the first section addresses the perception of the client about financial institute in religious perspective; 80% of respondents are positive that financial intuitions are largely perceived as non-Islamic. This issue can be resolved by focusing on the establishment of Islamic MFIs or marketing the concept of microfinance more aggressively. Final question is about the norms restrictions on the financial sector, again 53% of responses are positive about the existence of such norms and 43% are negative. We may say that in future these norms may go to decline. Internal Challenges The section 2 of the challenges is about the key internal challenges faced by MFI. We have discussed six different internal challenges; the first and probably the most important challenge is about the availability of other cheaper financial resources. 74% of the respondents agree that the availability of other cheaper source of finance is a great challenge for them and 36% responded in opposite. This indicates the fact that the cost of borrowing is high for small borrowers. Effort should be done to make small loans available at some competitive cost in comparison to other financial products. About the limited physical presence of MFI, 87% response is positive and only 13% is negative, which again reveals the gap for policy makers that the limited presence may be the major cause of low performance and growth of MFI sector. The third question is about the general inability of MFIs about risks and standard practices; 52% responded positively about the situation but 48% do not agree. We may say that there is a great need for MFIs to mitigate the risk factors and adopt the standard practices. The fourth question is about the incompatibility of conventional banking with the need of microfinance product; 52% of respondents are positive about the inaptness of conventional banking with microfinance product need while 48% do not agree that there is incompatibility of microfinance need and traditional banking. So we may say that a second majority of MFI believes that conventional banking system can also cater to the need of microfinance product. The second last question of this section is about the availability of quality human resource in comparison to other financial institutions; 48% of the respondents are positive about the availability of quality human resource due to scare funds while 52% do not agree. This shows that availability of quality human resource is not much of an issue in MFIs. Final question is about the lacking in value chain and delivery process of mic rofinance product; a majority of 59% is positive that there are lacking in value chain and delivery process, but 37% are of opposite view and 4% are uncertain about the answer to this question. Prospects/Opportunities The third and the last section is about the opportunities for MFIs, first question is about the promotion of different kinds of business through MFIs; 56% of respondents are positive that MFIs are promoting all kinds of business and 44% do not agree. The second majority of respondents believe that MFIs are not addressing all kinds of business. Hence, there is a need to look at the different kinds of businesses served by MFIs. In the question about the role of MFI,s in reduction of poverty, 83% are positive about the role of MFI in poverty reduction, while a minority of 17% do not agree. The fourth question about the role of MFI in economic growth of country; 100% respondents advocate that MFIs are working for the economic development. 100% respondents are positive that MFIs are not only working against poverty but also playing some other roles too in economy. Finally a 70% of respondents are positive about the alliance of commercial banks and MFIs , 13% do not agree about the allianc e and 17% are uncertain. CONCLUSION AND RECOMMENDATION In this study, conclusions will be drawn on the basis of literature review and analysis made through market research. The reasearch is divided into two parts: conclusions and recommendations. Conclusions From this study we conclude that; Government is providing due importance to MF sector. MFIs staff needs training which can impact positively on MF Sector. A majority of 70% believe that loan is utilized in investments activities rather than personal consumption. MFIs have very low attention toward its clients skill development. A majority of population perceive MFIs and other financial services against their religious beliefs. Lastly norms and culture poses threats to MFIs and Banks. Cost of microfinance is relatively high in compassion to other financial products. Standards of practices and processes need improvement in MFIs. Alliance of commercial banking and microfinance is viewed as positive. Recommendations MFIs staff working in market needs adequate training. Ultimately, their training will draw some positive impacts on MFI sector in specific and may also benefit the economy of the country at large. MFIs are not putting due efforts in their business because their client is usually not only poor but also lacking management and other skills. Further research can be done on the level of skills of the client and growth of his/her business to elaborate the different skill levels. There may be a need of Islamic MFIs or marketing the concept of microfinance more aggressively to avoid the potential biasness in financial organizations. Effort should be done to make small loans available at some competitive cost in comparison to other financial products. There is a great need for MFIs to mitigate the risk factor and adopt the standard practices. Limitation of Research This study had the following limitations The author was not able to distribute the questionnaire to company executives all over the country. Time period to conduct the study was very limited. Some of the respondents did not answer the questions seriously Sample size was limited to 3 cities only which cannot be easily applicable to all population of Pakistan. The questionnaire was sent to respondents through e-mail. It was not feasible for the author to conduct the interviews personally. All respondents cant maintain same level of accuracy in answering the questions due to lack of time and interest. It may create little discrepancy to some extent in formulating the conclusions. Refrences www.sbp.org.pk/publications/prudential/micro_prs.pdf www.sbp.org.pk/l_frame/MF_Bank_Ord_2000.pdf Kofi, Annan. UN secretary,.2007. Avalibale atÂÂ  : http://www.diplomatie.be/en/travel/visa/default.asp Herani, Gobind M, Rajar , Allah Wasayo, Wasim, Mohammad Pervez and Shaikh, Riaz Ahmed., 2008. The Nature of Poverty and Its Prospects: Pakistan Evidence. Journal of Global Economy ,4(3), pp. 183-194. Global Monetary and Financial System: Principal Issues. Journal of the Institute of Bankers Pakistan , 74 (2) pp 1-6 Available at:www.ibp.org.pk/journal/Journal-Apr-Jun-2007.pdf Pakistan Statistical Profile Available at: agingandwork.bc.edu/documents/CP03_Workforce_Pakistan.pdf M. Bauer, J. ChytilovÃÆ'Â ¡, J. Morduch., 2008.Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India. American Economic Review,59 (1) pp71-86 Rashed Al Hasan., K.M. Zahidul Islam., 2008. Bridging the Gap between Microfinance and SME Financing in Bangladesh: Unlocking the Potentials. Daffodil International University Journal of Business and Economics, 3.(1), pp 41-57 Shahidur R. Khandker., 2005.Microfinance and Poverty: Evidence Using Panel Data from Bangladesh .The World Bank Economic Review, 19(2), pp263-286 Jonathan Morduch., 1998. Does Microfinance Really Help the Poor? New Evidence from Flagship Programs in Bangladesh, Department of Economics and HIID Harvard University. Available at: www.princeton.edu/rpds/papers/pdfs/morduch_microfinance_poor.pdf Grameen Bank. Available at: http://www.grameen-info.org/ Dugger, Celia W. 2004. Å“Debate Stirs over Tiny Loans for Worlds Poorest.? New York Times. Morduch, J., and Haley, B. (2002), ËÅ"Analysis of the Effects of Microfinance on Poverty Reduction, NYU Wagner Working Paper No. 1014 Available at: http://www.nyu.edu/wagner/workingpapers.html Briefing Note Summary of the Poverty and Social Impact Assessment: Pakistan Microfinance Policy May 2006 Available at: www. pipl.com/directory/name/Tazi/Hind