Microfinance

Jun 21st, 2015
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Microfinance is defined as any activity that includes the provision of financial services such as credit, savings, and insurance to low income individuals which fall just above the nationally defined poverty line, and poor individuals which fall below that poverty line, with the goal of creating social value.

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Finance Financial management Refers to the long termEnsures a business achieves its goals and objectivesStrategic role of financial management involves a key number of areas:Achieving long term profitabilityAchieving increased wealth for investorsAchieving great efficiencies (cost reduction) within the business. Increased efficiencies reduce costs. A reduction in costs leads to increase in profitObjectives of Financial ManagementProfitability ? is the ability to maximize profitsGrowth the ability to increase in size in the longer termEfficiency cost minimizationLiquidity the ability to repay short term debtSolvency the ability to repay long term debt e.g. mortgageProfitabilityThe process of maximizing revenue (sales) and minimizing expenseMaximize:New promotional campaignsGrowth strategies such as the release of products/storesMinimizingOutsourcing e.g. products are made in other countriesChange in productsIn 2013-14 Apple achieved a profit of $40 billionI-pad air/I-pad miniReleased an I-phone 5s/5c30% of the price of all apps go directly to AppleMinimizing expensesProduction based in Fox-conManufacturing in AsiaMinimal expenditure on marketing, customer loyalty and strong brand awarenessEfficiencyMinimizing expensesAchieving the lowest possible product costReducing expensesStrategiesOutsourcing productionSource cheaper suppliesHow Apple achieves efficiency:Outsourcing production to Fox-conAchieve production

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