Making Microfinance Work: Managing for Improved Performance
Microfinance has long been recognized as having significant potential to create jobs and reduce poverty but to meet the twin challenges of growth and sustainability, managers of microfinance institutions (MFIs) must not only understand essential management functions: they must also be armed with innovative ideas and strategies to succeed in today’s increasingly competitive environment. This training manual provides a valuable overview of the key management principles necessary to optimize the services of MFIs and brings together useful lessons from numerous MFIs worldwide to help managers strengthen the performance of their unit, branch or institution.
Either used alone, or as part of a management training course, “Making Microfinance Work: Managing for improved performance”, offers an array of tools and advice. The manual examines the markets and marketing of MFIs and captures the different ways in which managers can communicate the value of their products and services. It introduces effective methods for enhancing efficiency and productivity which minimize the trade-offs MFIs invariably face as they try to provide services over the long term.
The topic of managing risks is also covered. The manual offers strategies to prevent risk from occurring and, if it does occur, explains how to rectify the situation. Practical techniques for allocating costs and determining prices are also highlighted, as well as the importance of plans, budgets and reports.
In a clear, easy to follow presentation, the manual includes illustrations and case studies to assist managers in applying the concepts outlined in the text. An extensive list of additional reading and useful Internet resources is also provided.