Sunday, April 24, 2016

Week 15 Reading Reflection

The first thing that the article talked about was the most surprising part of this reading, or at least the most interesting. It was very intriguing to hear about the fatwa in India that almost destroyed the author's business. It was interesting to read that instead of succumbing to such threats, the author left their offices there and moved elsewhere, and it was very exciting to hear why they only loan to women and the good things his business has the capability of doing.
The most confusing part of this reading for me was ho the author talked about his business as though it was making a product, like Starbucks makes coffee and McDonald's makes burgers. But I never gathered what the product was. I only read that the "product" was loan giving, but I'm not sure if that's all it was because of the fact that the author used such terms as technology and factory-line to make it sound like his business was making something, an actual physical something.
My first question would be in concern to above, how did you make money off giving out loans, or did you actually have a product you were selling? I understand that banks make money from loans as well, but all from interest and being that your company's target audience is those in a lower class, did you not charge them as high of an interest? I understand that the business had high accommodations and thus strong customer loyalty, but in repayment to the business, did their interest rates remain high or low? My second question would be how did men respond to your company? Being that you only gave loans to women, did you ever have any issues with this? Was that maybe why the gang came and harassed your business?
I question how the author had a million dollar business form just giving out loans, while also receiving loans of his own. Where did he make the money that goes into his own pocket, as well as a large enough some to pay his employees who must venture through such rough terranes at such unwelcoming hours. That could be the only thing I don't understand how the author could be "correct about," but overall, I think his business sounds amazing and very innovative. If more businesses learned from him, we could live in a much better, more advantaged and higher-functioning world.

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