What Is Blank Verse Definition, Examples, Analysis

Blank verse  is  poetry with a consistent meter  but no formal rhyme scheme.  Unlike free verse, blank verse has a measured  beat. In English, the beat is usually iambic pentameter, but other metrical patterns can be used.  From William Shakespeare to Robert Frost, many of the greatest writers in the English language embraced the blank verse form.   Blank verse: Poetry that has a  consistent meter but no formal rhyme scheme.Meter: The pattern of stressed and unstressed syllables in a poem.Free verse: Poetry that does not have a rhyme scheme or a consistent metrical pattern. How to Identify a Blank Verse Poem The basic building block for a blank verse poem is a two-syllable unit called an iamb. Like the ba-BUM of a heartbeat, the syllables alternate between short (unstressed) and long (stressed). Most blank verse in English is  iambic pentameter: five iambs (ten syllables) per line. William Wordsworth (1770-1850) used iambic pentameter in his classic poem,â€Å"Lines Composed a Few  Miles Above Tintern Abbey. Notice the rhythm created by the pattern of  stressed/unstressed syllables in this selection:   Do I behold  these steep  and lofty cliffs However, Wordsworth didnt write the poem entirely in iambics.  Poets sometimes slip in different meters like  spondees  or  dactyls  to soften the beat and add a sense of surprise. These variations can make a blank verse poem hard to recognize. To add to the challenge, word pronunciations change with local dialects: Not all readers hear exactly the same beat.   To distinguish blank verse from free verse, begin by reading the poem aloud. Count the syllables in each line and mark the syllables that have a stronger emphasis. Look for an overall pattern in the arrangement of stressed and unstressed syllables. Blank verse will show some evidence that the poet has measured the lines to achieve a more or less consistent beat throughout the poem. Origins of Blank Verse English didnt always sound iambic, and the earliest literature from England didnt use orderly patterns of accented syllables. Beowulf (ca. 1000) and other works written in  Old English  relied on  alliteration  rather than meter for dramatic effect. Systematic metrical patterns entered the literary scene during the age of Geoffrey Chaucer (1343-1400), who wrote in  Middle English. Iambic rhythms echo through Chaucers Canterbury Tales. However, in keeping with the convention of the day, many of the tales are composed of rhyming couplets. Every two lines rhyme.   The idea of writing metered verse without a formal rhyme scheme didnt emerge until the Renaissance. Gian Giorgio Trissino (1478-1550), Giovanni di Bernardo Rucellai (1475-1525),  and other Italian writers began to imitate unrhymed poetry from ancient Greece and Rome. The Italians called their works versi sciolti.  The French also wrote unrhymed verse, which they called  vers blanc. Nobleman and poet Henry Howard, Earl of Surrey, pioneered English blank verse in the 1550s when he translated the second and fourth books of Virgils The Aeneid from Latin.  A few years later, Thomas Norton and Thomas Sackville produced  The Tragedie  of Gorboduc  (1561), a play composed of  very little rhyme and strong iambic pentameter: Such  causeless  wrong  and  so  unjust  despite,  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  May  have  redress, or  at  the  least  revenge. Meter was an important tool for dramatizing memorable stories during a time when most people couldnt read. But there was a tedious sameness to the iambic beat in  The Tragedie of Gorboduc  and other early blank verse. Playwright Christopher Marlowe (1564-1593) energized the form by using dialog, enjambment, and other rhetorical devices. His play The Tragical History of Dr. Faustus  combined colloquial speech with lyrical language, rich assonance, alliteration, and references to Classical literature. Published in 1604, the play contains  Marlowes often-quoted lines: Was this the face that launched a thousand ships,And burnt the topless towers of Ilium?Sweet Helen, make me immortal with a kiss:Her lips sucks forth my soul, see where it flies! Marlowes contemporary  William Shakespeare  (1564-1616)  developed a range of techniques to disguise the tick-tock rhythm of iambic pentameter. In his  famous soliloquy from Hamlet, some lines contain eleven syllables instead of ten. Many lines end with a  softer (feminine) unstressed syllable.  Colons, question marks, and other sentence endings create rhythmical pauses (known as caesura) midway through lines. Try to identify the stressed syllables in these lines from Hamlets soliloquy: To be, or not to be: that is the question:Whether tis nobler in the mind to sufferThe slings and arrows of outrageous fortune,Or to take arms against a sea of troubles,And by opposing end them? To die: to sleep... The Rise of Blank Verse Poetry During the age of Shakespeare and Marlowe, English blank verse belonged mainly to the realm of the theater. Shakespeares sonnets  followed conventional rhyme schemes. In the mid-1600s, however, John Milton  (1608–1674) rejected rhyme as but the invention of a barbarous age  and promoted the use of blank verse for nondramatic works. His epic poem  Paradise Lost  contains  10,000 lines in iambic pentameter.  To preserve the rhythm, Milton shortened words, eliminating syllables. Notice the abbreviation of wandering in his description of Adam and Eve leaving paradise: The world was all before them, where to chooseTheir place of rest, and providence their guide:They hand in hand with wandring steps and slow,Through Eden took their solitary way. Blank verse fell from favor after Milton died, but  in the late 1700s a new generation of poets explored ways to integrate natural speech with musicality. Blank verse offered more possibilities than verse with formal rhyme schemes. Poets could write stanzas in any length, some long, some short. Poets could  follow the flow of ideas and use no stanza breaks at all. Flexible and adaptable, blank verse became the standard for poetry written in the English language. Other masterpieces of blank verse poetry include Frost at Midnight  (1798) by Samuel Taylor Coleridge,Hyperion (1820) by John Keats,  and The Second Coming  (1919) by W.B. Yeats. Modern Examples of Blank Verse Modernism brought revolutionary approaches to writing. Most 20th  century poets turned to free verse. Formalists who still wrote in blank verse experimented with new rhythms, fragmented lines, enjambment, and colloquial vocabulary.   â€Å"Home Burial† by Robert Frost  (1874-1963)  is a narrative with dialog, interruptions, and outcries. Although most of the lines are iambic, Frost shattered the meter midway through the poem. The indented words Dont, dont, dont, dont are equally stressed. There are three stones of slate and one of marble,Broad-shouldered little slabs there in the sunlightOn the sidehill. We haven’t to mind those.But I understand: it is not the stones,But the child’s mound—’‘Don’t, don’t, don’t, don’t,’ she cried.She withdrew shrinking from beneath his armThat rested on the banister, and slid downstairs... Robert Graves  (1895-1985)  used similar strategies for  Welsh Incident.  The whimsical  poem is  a dialog between two speakers. With casual language and ragged lines, the poem resembles free verse. Yet the lines lilt with iambic meter:   ‘But that was nothing to what things came outFrom the sea-caves of Criccieth yonder.’‘What were they? Mermaids? dragons? ghosts?’‘Nothing at all of any things like that.’‘What were they, then?’‘All sorts of queer things... Blank Verse and Hip-Hop Rap music  by hip-hop artists draws from African folk songs, jazz, and blues. The lyrics are filled  with  rhyme and near-rhyme.  There are no set rules for line lengths or metrical patterns. In contrast,  blank verse emerged from European literary traditions. While the meter can vary, theres an overall regularity to the beat. Moreover, blank verse  poems rarely use end rhymes.   Nevertheless, blank verse and rap music share the same iambic rhythms. The  Hip-Hop Shakespeare Group  performs rap versions of Shakespeare plays. Hip-hop musician  Jay-Z celebrates the poetic qualities of rap music in his memoir and lyric collection,  Decoded  (view on Amazon).   Compare  the line by Wordsworth quoted at the top of this page with  this line from Jay-Zs rap song, Coming of Age: I  see  his  hunger  pains, I  know  his  blood  boils Rap music is not written exclusively in blank verse, but teachers often include hip-hop in the curriculum to illustrate the continued relevance of Shakespeare and other writers from the blank verse tradition.   Sources The Hip-Hop Shakespeare Company.  http://www.hiphopshakespeare.com/​  McWhorter, John. Americans Have Never Loved Poetry More—But They Call It Rap. Daily Beast. 29 June 2014. https://www.thedailybeast.com/americans-have-never-loved-poetry-morebut-they-call-it-rap.  Ã‚  Richards-Gustafson, Flora. Steps for Identifying the Types of Meter in Poetry.  http://education.seattlepi.com/steps-identifying-types-meter-poetry-5039.html.  Shaw, Robert B. Blank Verse: A Guide to Its History and Use.  Athens, Ohio: Ohio University Press, 2007Smith, Nadine. How to Write Blank Verse in the Iambic Pentameter.  Ã‚  https://penandthepad.com/write-blank-verse-iambic-pentameter-8312397.html.  University of Northern Iowa. Blank Verse.  Craft of Poetry, a Fall 2001 course taught by Vince Gotera.  Ã¢â‚¬â€¹https://uni.edu/~gotera/CraftOfPoetry/blankverse.html.

Using A Similar Deign And Mcdermott s False Memory...

The current experiment used a similar deign as Roediger and McDermott’s (1995) false memory experiment. In this 2x2 mixed factorial designed experiment, memory was tested using a word list that was either blocked by five critical words on a particular subject or randomized. Participants were university college students who participated for course credit. There was a significant difference in false memory when the blocked vs. random lists were compared to examine which had more words remembered. The participants who were randomly assigned to the blocked list recalled more words to include actual words and the critical words when compared to those randomly placed in the random word condition. The results revealed that using the blocked lists better facilitated the actual memory and recalled more critical words/false memories. Memory has been a subject of study to see if what we remember is a true memory or a false memory. Some of the studies conducted on this have used sentences, prose, films and slides to test the memory and find out if the individual can recall the actual story or have false memories about what they experienced (Roediger III McDermott, 1995, p. 803). The problem arises when eyewitnesses recall information about an event but proves to be false. Roediger, Jacoby and McDermott state that when you test the memory you are not just testing the retention of that event, you are also changing how the individual retains that particular event in the future.

Natural Resources and Energy Paper Free Essays

Natural Resources and Energy Paper Spechelle Jones, Cherrie Chicaletto, Robert Hernandez, Jamie Hughes SCI/256 October 13th, 2010 The world is growing at a rate of speed of 2. 8 people per second and losing 1. 6 acres of land per second in accordance with an article last month titled Environmental Impacts from Unsustainable Population Growth on the World Population Awareness website. We will write a custom essay sample on Natural Resources and Energy Paper or any similar topic only for you Order Now World Population Awareness is an organization concerned with recent problems of as well as solution ideas to popular global warming theories caused directly by overpopulation of the world. (World, 2010). In addition to all natural resources on this planet fading away, there is an ever growing apprehension with the number of species of wildlife and the respective habitats of each. All over the world, nature preservation parks have been constructed just so a small group of people can be accountable to enforce certain guidelines for that preserve which support and ensure safety of life within that area. With more and more natural resources required to maintain our â€Å"natural† function of life, it is inevitable that the natural resources will run out sometime. It is only a question of when. E. O. Wilson said, â€Å"The one process ongoing †¦ that will take millions of years to correct is the loss of genetic and species diversity by the destruction of natural habitats. This is the folly our descendants are least likely to forgive us. † This theory has been the fuel for the modern â€Å"Go Green† campaign. Individuals everywhere have formed organizations promoting new resources that do not compromise the state of our planet. Ideas are being televised worldwide to educate people and suggest new ways of heating our homes or washing our clothes with a new detergent. With this in mind, it could only be a matter of time before the government requires everyone to follow certain procedures for the disposal of waste or building a house. Suddenly, it just does not seem so important anymore that the government may be infringing on our rights as an American citizen to force regulatory guidelines. Taking the place of this common concern, is a universal interest and effort to save our planet for the sake of our children. Renewable forest resources are declining due the increased use of nonrenewable forest resources. Coal and natural gas are two examples of nonrenewable forest resources. These resources are nonrenewable because they cannot be recycled. The high abundance of coal and natural gas hit its peak one hundred years ago, after sitting under the earth for more than an estimated one million years. The supply of coal and natural gas is nearly gone due to excessive use of the resources in the past century. The coal and natural gas is not renewable; these resources are causing pollution to the ocean and all waters alike. Extracting natural gas and oil from forests for energy source is convenient to humans, but the environment is suffering as well as the natural resources that are part of the local ecosystem of the forest. The forest resources were so abundant; however the transformation to these natural lands is irreversible. The forests can provide natural resources for centuries to come (Derr, 2007). Proper management of these resources is necessary for renewable forest resources. Water, air and paper are all examples of renewable forest resources. However, once these resources are polluted by the other resources; it is much more difficult to recycle them. In many cases, it is just too late to recycle those items because of the high amount of pollutant they had sustained. Carbon Dioxide is recycled into clean oxygen by plants and trees. Since many trees are being cut down and burned, more charcoal is being produced; which is a nonrenewable resource. The trees are being cut down, which can leave renewable forest resources. However, many of the trees in these big forests have been growing for thousands of years. The strength and power of these trees is impossible to regain. The trees have been putting clean oxygen into the air for thousands of years. New trees begin growing each year with the seeds from those who were cut down. None of those trees will have near the amount of power and/or shelter important to the surrounding ecosystem like those who had been growing for hundreds of years. It is vital to the local ecosystem of the forests that the trees remain. Animals do not want paper for shelter, nor can paper produce clean air to breath. It is important that the natural resources be taken care of, too much of the natural resources are depleting too quickly. References Derr, A. (2007). RENEWABLE RESOURCES. Boys’ Life, 97(3), 38. Retrieved from MasterFILE Premier database. World Population Awareness. (2010). Environmental Impacts from Unsustainable Population Growth. Retrieved from Google at http://www. overpopulation. org/impact. html. How to cite Natural Resources and Energy Paper, Papers Natural Resources and Energy Paper Free Essays Natural ecosystem is a natural unit consisting of all plants, animals, and microorganism in an area functioning together with all the non-living physical of the environment which plants and animals are dependent upon one another, and their particular surroundings-for survival. Natural ecosystems make up the planet on which we live as well as the entire universe. They are dynamic and interconnected. We will write a custom essay sample on Natural Resources and Energy Paper or any similar topic only for you Order Now An ecosystem is a collection of all plants, animals, microorganisms, bacterium, and fungus as well as the non-living components that function together as one unit in a given area (The Ontario Plan, 2011). Living and non-living things intertwine with each other in a natural ecosystem. San Diego’s wetland is an example of a natural ecosystem. In this paper it will discuss about the effects that a growing human population may have impacted on San Diego’s wetland’s resources, including loss or harm to populations of wild species. It would also discuss one management practice for sustainability and conservation of natural resources. Also to identify the risks and benefits of extracting or using one resource from this ecosystem, or in any areas near this ecosystem. Effects of Human Population Coastal Wetlands are one of many endangered habitat in the world, only next to tropical rain forests. It is said that in the United States there are estimated more than 50% of wetlands have been severely altered or destroyed. San Diego wetland is the most threatened resource on the California coast. By 1900, wetlands have been affected by human activities. Wetlands everywhere have been filled in for human developments such as housing, industrial plants, and airport. They have been dredge for use as canals, waterways, and marinas. Highways are over the streamside canyons and cut right through coastal marshes, causing habitat fragmentation (Sea World, 2002). Loss and harm to population of wild species Between 1990 and 2000 wetland loss was approximately 24 square miles per year, which is one football field lost every 38 minutes. The loss over the next 50 years with current restoration efforts is expected to be 500 square miles. Human activities cause wetland degradation and loss by changing water quality, quantity, or flow rates resulting increasing pollution and change the makeup of species within a habitat. These changes occur when wetland ecosystems are disturbed or non-native species are introduced to a habitat. Wetland plants can suffer as a result of both pollution and hydrologic changes. Other ways wetland plants can be damaged are cattle and other livestock grazing, introduction of non-native plants that compete with native plants and removal of plants to use land for other human development. Management for sustainability and conservation In the 1970s and 80s state and federal agencies, together with many private conservation groups, spent millions of dollars to purchase San Diego County wetlands to establish wildlife preserves. As a result, most of the county’s wetlands are publicly owned. This has largely stopped the filling, dredging, and other direct destruction of the wetlands, but they are still suffering from the erosion and sedimentation caused by upstream development. The City of San Diego has recently restored seven acres of salt marsh on the north end of Mission Bay, which expands the wetlands of Mission Bay Northern Wildlife Preserve. The Southern California Wetlands Recovery Project aims to acquire more than 1,500 acres, and to restore or enhance more than 500. In San Diego County the Project includes 20 acres of restored salt marsh in the Tijuana River Estuary (Sea World, 2002). Nonrenewable and renewable energy Oil and coal are currently the most used forms of nonrenewable energy. Coal is a combustible material that comes from the earth. It is obtained from mining and is the most difficult resource to get. Oil is another combustible energy obtained from drilling, although unlike coal, once the hole is drilled the oil can be pumped out of the hole. This makes it easier and more cost effective to gather oil then coal (Oracle ThinkQuest, 2011). No risk or benefit found by extracting or using a nonrenewable type of resources. Renewable energy is energy that automatically replenishes itself from ongoing natural processes. For example, sunshine, wind, flowing water, biological processes, and geothermal heat flows are creators of usable renewable energy (Oracle ThinkQuest, 2011). Wetlands cannot use any of none or renewable energy because wetlands are very sensitive that anything alien expose or introduce to it would lead fragmentation or even damage. View as multi-pages How to cite Natural Resources and Energy Paper, Papers

Negotiation Process Management

Question: Examine and evaluate the key areas and features that governments should focus on during their negotiation process and in the drafting of contracts with the International Oil Companies. Answer: Introduction This study focus on the discovery of oil as well as gas companies and understanding the technical, commercial as well as legal aspects as far as field development is concerned. Further, this study gave a detailed investigation of various negotiation issues and how it can be resolved with the help of lawyers for legal matters and professionals (Cramb, 2013). Various contracts are drafted so that the negotiation becomes easy and some of these are licensing, joint venture and service agreements. Several issues were faced by the government in order to select an eligible team for the purpose of negotiation. The landowners who are affected in the indigenous communities mostly demand for compensation on the basis of usage as well as disturbance that was caused to their property. Oil companies are forced to make certain commitments to engage in domestic labor so as to solve the social issues. For the complex matters, experts are hired, engineer for the purpose of technical knowledge, and lawyer for the purpose of legal knowledge (Dale, Osegowitsch and Collinson, 2014). Most of the contract of oil companies has proved to be connected with the negotiation. A negotiator who is efficient knows that every solution leads to an element and it is considered in a more focused way. There are further many issues that need proper attention and this includes exploration cost, as well as development in the market conditions. Time is an important factor that helps in achieving the return of a desired country. The economic as well as societal cost is kept lower so that it is minimized in order to view at the environmental damage caused to the organization. Therefore, it actually means the various political as well as corporate issues that need attention as such to eliminate the risk factors caused by the oil companies. Selection of negotiation team by the government The government faces an issue on selecting an eligible team who can carry out the negotiation issues effectively. In order to select the desired team, it is first essential to understand the basic demands that are required in the job. Negotiation is that issue that actually hosts the various elements in order to come up with corporate strategy (Habiger and Beroza, 2015). The negotiable factors include compensation that is demanded in the creation of an effective plan. On the other hand, non negotiable factors include regulatory matters that directly concern the investors as far as oil companies are concerned. It is often noticed that investors believes in legal stability so as to avoid the political issues, societal issues in order to handle the resources effectively. Conflict as well as development challenges are taken into consideration so as to avoid that will help in prevailing the natural resources for the same. Profit maximization is the only motive of all oil companies that operates in most of the zones of conflict, believes in preparation of skilled as well as financed based negotiations. It is often noticed that stability occurs when government is able to compensate regarding any laws, rules as well as regulation on the basis of overall nation. Another issues that need to be resolved is the conflict between the public as well as private in specified oil contract that includes instability of the business enterprise. Time Horizon As far as oil contract negotiation is concerned, negotiations are completely dependent on time that includes current market situations (Jayachandran et al. 2013). Certain expectations should find ways in the contract because it will help in anticipating the oil price on the basis of change in demand. For instance, the Norway government took initiative in order to entice the oil companies with a desirable tax regime that includes ten percent of royalty as well as license fee. Further, there was no mortgage allowed by the Norway government for the sake of companys future, rather it got double the rate in royalty with eighteen percent in three years of time frame. It is therefore, not possible to implement any plans without prior permission from the government, so the rules that are needed to be followed often get delayed because of the time constraints. Professional lawyers are hired so that they can solve the negotiation issues and come up with innovative plans that can help the oil c ompanies to achieve success in the near future. Setting of the ParametersInformation Environment Transparency helps in achieving overall public acceptance as far as contract is concerned. It helps in allowing the civil society to form the informal mechanism to have a check on the balances with the formal mechanism (Kelland, 2014). Transparency proves to be only way that can help to dispel at the greed as well as corruption level related to the oil contracts. Transparency is not a revolutionary concept; rather it is more risky than, as well as it has a steady acceptance of relevant principles. Transparency helps to prevent the officials such as government in order to agree the terms that can politically accept the issues, and will not be subject to criticism of any attack. Contractual Form: The government generally finds difficulty to select the contractual system that basically helps in particular license agreement, joint venture, and service agreement. Each agreement includes number of pros and cons and these are explained below with proper justification: Agreements on licensing helps or grants the oil companies to sell, develop, explore as well as export the extraction of oil in a particular area (Killing, 2012). It has made the company to receive the exclusive development as well as rights on production for a specified period of time frame. Basically, licenses are considered to be risk free for the government and it is a serious limitation in the case of expense on the basis of time. In case of bidding process, it does not majorly accept the technical competent as far as bidder is concerned. One of the disadvantages of licenses is that it gives rise to insufficient knowledge regarding the concession area. Companies are responsible to take an account of calculated risk in order to bid the price that will be taken as conservative way with the specific amount offerings. Agreement on production sharing- This agreement includes to recognize the ownership of the concerned oil rest that will affect the citizens of the country, rather the private parties. The host government are responsible to share the profits, but Production sharing agreement further focus more on the finding the linkage with the government to determine to involve in profit making (Klotz and Bolino, 2013). This will help in enforcement of various regulations that will have a positive impact on the environment. PSA (Production Sharing Agreement) have successfully provided the oil companies with a voice that helps in regulatory enforcement on the basis of provisions on contractual issues. Joint ventures take place if two parties are willing to undertake business practices and share the profits in equal ratios. If there is lack in adequate laws by the host countries, then negotiation can be even more intense (Kumar and Rabinovitch, 2013). Joint Venture can help in transfer of skills, technology, as well as expertise to the respective host country. It basically require operation allocation, management of financial risk, and taking adequate responsibilities that will help the government to participate in the exploitation of natural resources. Service agreements- This agreements basically are employed that provides presence in providing payments for different types of tasks as well as services. The contractor mainly receives payment in fixed manner that actually is independent on the basis of oil price. The decisions of the management are basically present in the hands of the government. Issues on oil agreements It is important to separate the negotiable from non negotiable issues as negotiation is considered to be an integral part within the process of most of the oil agreements (Leone and Reichstein, 2012). If there is no proper division of relevant issues, then it will pose difficulty in horse trading that takes place in seeking low compensation in order to maintain state in return. Strict rule are enforced so that the separation can be effectively achieved that will include the environmental standards. A flexible contract will help in the development of system that will include stability clause. Fair outcome Contracts of oil are basically business custom that includes tradition as well as private documents. It can be noticed that the oil contracts that are with government are not traditionally involved in public instruments. Rather, it takes place with the enactment of laws pertaining to the negotiable issues (Mitchell and Mitchell, 2014). If there is lack of transparency as well as availability, then it is difficult to judge the fairness of a nation related to objectivity. The negotiator, here, has to rely on his experience, judgment that may be lacking, if incomplete information is provided to them. A benchmark can be set by the economist that helps in understanding the position of the negotiator that further includes oil production at national as well as export data made available for future references. Contractual provisions There is extensive negotiation that takes place in the provision act, irrespective of any contract form that is selected (Paik, 2012). The most important concept in the contract is basically the compensation that is to be received by viewing at the factors by the government. The contract clauses include those issues that are related to compensation, and these are oil prices, tax regime details, plans on development and the other costs and expenses. Oil price- Compensation on host government is in the form of taxes, arrangements in profit sharing, royalties, as well as agreement on contractual issues that basically affect the selling pattern of oil prices of a company. But the main challenge is to apply for specific objective at considerable price (Pillar, 2014). The government should never encourage or accept price that are paid in between two or more related companies as the prices are determined by manager of the company on an internal basis and this will not be able to reflect at the market rates in the current scenario. Costs, expenses and taxation- a host government is liable to receive a percentage amount of compensation that does not include royalties, and are basically shows a decrease curve as far as expenses are concerned by the relevant oil company. In a fast growing nation, it can be noticed that skilled accountants are lacking that can handle the tax system in an effective manner and are good at number calculations. Plans on development- The government faces a challenge to increase the need of rents in order to maximize in exploration as well as development that are essential in fields (Popli, Rodgers and Eveloy, 2013). If the government faces too high in the intake, then an oil company will not be able to continue in order to develop in a particular track. If the agreement is well structured, then it will be easy to provide for any of the losses or termination that will help in the development process. Health and environment- The oil business is considered to be a dirty business because it directly affects the health of the workers as well as local communities that are directly having a relationship in the disputed oil industry (Ramos and Veiga, 2011). Environment is also affected by way of escaped gases, spills as well as explosions. It can be also stated that the oil companies do not hold any local legislation that directly impact the compliance cost. The workers should be provided special training on health and safety so that they do not get harmed while working in the organization. Special protection should be given like gloves, helmet so that they can protect themselves because getting into accident not only affects the workers but also the family at the same time. Oil and gas companies actually are a reason to pollute the environment because of the gas emissions from chimneys that directly harm the health of the local communities. Stabilization- A specific stability law should be enforced that will include certainty of commitment as well as planning of different types of investment issues. The changes made annually as well as periodically in the tax rate can directly increase in the risk as well as uncertainty (Sigman et al. 2013). Still, most of the developing nations are facing an issue with the legislative as well as institutional system. Social projects- Most of the oil companies sometimes have to undergo negotiation that they indulge in social projects so that they proved to be good citizen. The social projects includes, building of schools, hospitals, playgrounds. If this project is undertaken, then it will be a reason of public spirited as well as gaining an honorable position (Sun and Lee, 2013). The government should aim at maximizing the compensation, rather charity that will help in execution of oil contracts in an effective manner. Oil contract parties- The oil companies mostly operate on the basis of special purpose that will include limited capitalization as well as no technical expertise is encouraged. Money as well as skills is usually present with the parent companies and other responsible business entities on the basis of various subsidiaries (Warneke et al. 2014). Therefore, if a contract on oil is not given the permission on subsidiary parent company, then there will be no protection for the parent company. There will be no varied assurance as well as performance will be curtailed that will affect the goodwill of the oil company as a whole. Termination- The provision on termination includes the ultimate possibility on various development rights that will help in recognition of various rights. If the termination is proved to be ineffective, then the government can deny the provision of acting as a tool (Yusuf et al. 2014). This will ensure a direct compliance with the oil contract as because there may be repeated failure with the developmental issues for specified period of time. Conclusion With the increase in the global competition, acquisition of energy resources are controlled that mainly includes oil companies. There is no way that the oil producing nations can determine as they are treated fairly or not. If the oil companies make ways in building the trust factor, then there is a possibility that they can get a fair treatment by the government. Mutual trust and understanding will help in building long term partnership that will become a competitive advantage top the specific oil company, and therefore they can be easily recognized as a multinational corporation. So, efforts must be made to play a fair game that will make them sustain in the market as well as get over all the negotiation as far as possible. Reference List Cramb, R. A. (2013). Palmed off: incentive problems with joint-venture schemes for oil palm development on customary land.World Development,43, 84-99. Dale, C., Osegowitsch, T., and Collinson, S. (2014). Disintegration and De-Internationalization: Changing Vertical and International Scope and the Case of the Oil and Gas Industry.Orchestration of the Global Network Organization (Advances in International Management, Volume 27) Emerald Group Publishing Limited,27, 487-516. Habiger, R., and Beroza, G. (2015). Emerging challenges to the oil and gas industry from induced seismicityAn introduction to this special section: Injection-induced seismicity.The Leading Edge,34(6), 612-612. Jayachandran, S., Kaufman, P., Kumar, V., and Hewett, K. (2013). Brand Licensing: What Drives Royalty Rates?.Journal of Marketing,77(5), 108-122. Kelland, M. A. (2014).Production chemicals for the oil and gas industry. CRC press. Killing, P. (2012).Strategies for Joint Venture Success (RLE International Business)(Vol. 22). Routledge. Klotz, A. C., and Bolino, M. C. (2013). Citizenship and counterproductive work behavior: A moral licensing view.Academy of management review,38(2), 292-306. Kumar, P., and Rabinovitch, R. (2013). CEO Entrenchment and corporate hedging: evidence from the oil and gas industry.Journal of financial and quantitative analysis,48(03), 887-917. Leone, M. I., and Reichstein, T. (2012). Licensingà ¢Ã¢â€š ¬Ã‚ in fosters rapid invention! the effect of the grantà ¢Ã¢â€š ¬Ã‚ back clause and technological unfamiliarity.Strategic Management Journal,33(8), 965-985. Mitchell, J. V., and Mitchell, B. (2014). Structural crisis in the oil and gas industry.Energy Policy,64, 36-42. Paik, K. W. (2012). Sino-Russian Oil and Gas Cooperation: the reality and implications.OUP Catalogue. Pillar, P. R. (2014).Negotiating peace: War termination as a bargaining process. Princeton University Press. Popli, S., Rodgers, P., and Eveloy, V. (2013). Gas turbine efficiency enhancement using waste heat powered absorption chillers in the oil and gas industry.Applied Thermal Engineering,50(1), 918-931. Ramos, S. B., and Veiga, H. (2011). Risk factors in oil and gas industry returns: International evidence.Energy Economics,33(3), 525-542. Sigman, R., Hilderink, H., Delrue, N., Braathen, N. A., and Leflaive, X. (2012). Health and environment.OECD Environmental Outlook, 207-273. Sun, S. L., and Lee, R. P. (2013). Enhancing innovation through international joint venture portfolios: From the emerging firm perspective.Journal of International Marketing,21(3), 1-21. Warneke, C., Geiger, F., Edwards, P. M., Dube, W., Ptron, G., Kofler, J., ... and Roberts, J. M. (2014). Volatile organic compound emissions from the oil and natural gas industry in the Uintah Basin, Utah: oil and gas well pad emissions compared to ambient air composition.Atmos. Chem. Phys,14, 10977-10988. Yusuf, Y. Y., Gunasekaran, A., Musa, A., Dauda, M., El-Berishy, N. M., and Cang, S. (2014). A relational study of supply chain agility, competitiveness and business performance in the oil and gas industry.International Journal of Production Economics,147, 531-543. Zarinabadi, S., and Samimi, A. (2012). Problems of hydrate formation in oil and gas pipes deals.Journal of American Science,8(8). Zhong, B. J., Gong, Y., Shenkar, O. (2013, January). TMT Organizational Identification, Knowledge Creation and International Joint Venture Performance. InAcademy of Management Proceedings(Vol. 2013, No. 1, p. 15943). Academy of Management.

Inner Journeys free essay sample

What extent has studying the concept of inner journeys expanded your understanding of yourself individuals and of the world? Inner journeys are about the process in which we move from naivity to maturity. In this proccess we learn new things about ourself that help us grow and become wiser and better people. The texts cosi by louis Nowra, the film groudhog day and the poem the road not taken all depict journeys of the mind and spirit which open up a greater understanding of the sense of self. In cosi louis nowra presents the inner journey of lewis, a young first time director who is hired to direct a play to bring the inmates of an asylum out of their shells . At the begining of the play lewis is indecisive in his understanding of others, uncertain of his opinions and unconfident of his own abilies. Diresting cosi fan tutti with emotionally and mentally handicapped people is the catalysts for lewis own emotional and mental maturity. We will write a custom essay sample on Inner Journeys or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As a metaphor for the world the charred theatre represents the challenges that will confront lewis. The characterization of lewis is established by the realism that of his language when he initially states i need the money. However this realism is threatened when both nick and lucy leave him alone to deal with the inmates. lewiss growing fear and uncertainty is emphasized through Nowras stage directions. Gradually as lewis spends more time with the patients like when he like when he lies about cherry thats why she spends so much time in the toilets in order to keep the production going he starts to see the value it has for them. Lewis also changes his attitude toward love and fidelity. This evident in the contrast when he says loves not so important nowadays to now saying without love the world wouldnt mean much. Nowra uses the play within play within play structure to emphasize the importance of love and fidelity. The opera cosi fan tutti functions somewhat as a mimetic device as it becomes a reflection of lewis relationship with lucy and his realisation that fidelity is an essential part of love. The inner journey that allowed lewis to gain this insight has been a product of his relationship with the mental patients. Finally lewis develops personally as a a director. Initially conveyed as a timid character, evident as roy talks over him, he learns to control and direct as he gains the respect of the mental patients. The film groundhog day starring bill Murray shows the Inner journey of Phill as he is trapped in a recurring day. Through the brilliance of the plot we can observe as he deals with his unique predicament. We see how he struggles to find meaning and purpose in life. Each day he experiments with new thoughts and behaviors and he learns what works and what doesnt. Any change that occurs must be inside him because only he can change. All the other characters repaet eaxcly what they did the day before. This shines an intense light on Phils abilty to change himself. Over countless days he learns that what pleasure he thought would make him happy have failed to, and he has to accept his old self has completely run out of steam. From this he is forced to place all his attention on changing the way he interprets the world, on his personal reality by changing his attitudes, values thoughts and feelings. like lewis he literally recreates himself becoming a mature. loving and giving person. His journey proves that inner change is the key to personal growth and happiness. The road not taken by Robert frost uses a metaphor of traveling to explore our chooses in life. It depicts the difficulty of making choices available and presented to people. Frost traces the way we make decisions, enjoying the options life has to offer us yet he also acknowledges that we cannot realistically do everything that is presented to us. The first person perspective instantly brings the audience close to the experience being recounted. The use of i establishes the personas personal dilemmas as his journey brings him to two roads diverge in a yellow wood. Two roads and yellow woods are metaphors for the choices he confronts. Rhyming creates a flow to the piece while the rhythm forces us to pause effective for thinking what the persona is contemplating. Stanza 1 shows that persona is sorry i could not travel both roads and show that lifes journey requires chooses that exclude alternatives. The second stanza shows that the choice has been made. The use of the language As just as Fair and Perhaps suggests both roads are equal. However there is slight confusion of the personas choice, conveyed in perhaps the better claim, really about the same. At the time of his choice he believes it was a better claim than the other. Later he thinks there much the same. In the third stanza, the exclamation oh I kept the first for another day! suggests the optimism of being able to retread ones steps and take lifes journey by a different route. But the use of the conjunction yet he later says I doubted if i should ever come back which suggests that after taking one route, Thats the route he has to live by, it is a choice he has made in life. Finally in the last stanza the pause suggests regret. The persona is now not sure if he took the better route but this decision is one we have to make in life and we have to life with the consequences and hopefully learn from our past experiences. The poem suggests that inner journeys are irreversible and the choice we make define the person who we become and our understanding of life and the world. This idea is similar to lewis experience where his decision to direct Cosi fan tutti moulds him. Through a close analysis of the three texts Cosi, The film Ground hog day And the poem the road not taken by robert frost that convey the ideas that an inner journey forms as a response to lifes changes and particularly the climatic moments which force a spiritual, mental and emotional re-evaluation of values of priorities. Inner Journeys free essay sample What extent has studying the concept of inner journeys expanded your understanding of yourself individuals and of the world? Inner journeys are about the process in which we move from naivity to maturity. In this proccess we learn new things about ourself that help us grow and become wiser and better people. The texts cosi by louis Nowra, the film groudhog day and the poem the road not taken all depict journeys of the mind and spirit which open up a greater understanding of the sense of self. In cosi louis nowra presents the inner journey of lewis, a young first time director who is hired to direct a play to bring the inmates of an asylum out of their shells . At the begining of the play lewis is indecisive in his understanding of others, uncertain of his opinions and unconfident of his own abilies. Diresting cosi fan tutti with emotionally and mentally handicapped people is the catalysts for lewis own emotional and mental maturity. We will write a custom essay sample on Inner Journeys or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As a metaphor for the world the charred theatre represents the challenges that will confront lewis. The characterization of lewis is established by the realism that of his language when he initially states i need the money. However this realism is threatened when both nick and lucy leave him alone to deal with the inmates. lewiss growing fear and uncertainty is emphasized through Nowras stage directions. Gradually as lewis spends more time with the patients like when he like when he lies about cherry thats why she spends so much time in the toilets in order to keep the production going he starts to see the value it has for them. Lewis also changes his attitude toward love and fidelity. This evident in the contrast when he says loves not so important nowadays to now saying without love the world wouldnt mean much. Nowra uses the play within play within play structure to emphasize the importance of love and fidelity. The opera cosi fan tutti functions somewhat as a mimetic device as it becomes a reflection of lewis relationship with lucy and his realisation that fidelity is an essential part of love. The inner journey that allowed lewis to gain this insight has been a product of his relationship with the mental patients. Finally lewis develops personally as a a director. Initially conveyed as a timid character, evident as roy talks over him, he learns to control and direct as he gains the respect of the mental patients. The film groundhog day starring bill Murray shows the Inner journey of Phill as he is trapped in a recurring day. Through the brilliance of the plot we can observe as he deals with his unique predicament. We see how he struggles to find meaning and purpose in life. Each day he experiments with new thoughts and behaviors and he learns what works and what doesnt. Any change that occurs must be inside him because only he can change. All the other characters repaet eaxcly what they did the day before. This shines an intense light on Phils abilty to change himself. Over countless days he learns that what pleasure he thought would make him happy have failed to, and he has to accept his old self has completely run out of steam. From this he is forced to place all his attention on changing the way he interprets the world, on his personal reality by changing his attitudes, values thoughts and feelings. like lewis he literally recreates himself becoming a mature. loving and giving person. His journey proves that inner change is the key to personal growth and happiness. The road not taken by Robert frost uses a metaphor of traveling to explore our chooses in life. It depicts the difficulty of making choices available and presented to people. Frost traces the way we make decisions, enjoying the options life has to offer us yet he also acknowledges that we cannot realistically do everything that is presented to us. The first person perspective instantly brings the audience close to the experience being recounted. The use of i establishes the personas personal dilemmas as his journey brings him to two roads diverge in a yellow wood. Two roads and yellow woods are metaphors for the choices he confronts. Rhyming creates a flow to the piece while the rhythm forces us to pause effective for thinking what the persona is contemplating. Stanza 1 shows that persona is sorry i could not travel both roads and show that lifes journey requires chooses that exclude alternatives. The second stanza shows that the choice has been made. The use of the language As just as Fair and Perhaps suggests both roads are equal. However there is slight confusion of the personas choice, conveyed in perhaps the better claim, really about the same. At the time of his choice he believes it was a better claim than the other. Later he thinks there much the same. In the third stanza, the exclamation oh I kept the first for another day! suggests the optimism of being able to retread ones steps and take lifes journey by a different route. But the use of the conjunction yet he later says I doubted if i should ever come back which suggests that after taking one route, Thats the route he has to live by, it is a choice he has made in life. Finally in the last stanza the pause suggests regret. The persona is now not sure if he took the better route but this decision is one we have to make in life and we have to life with the consequences and hopefully learn from our past experiences. The poem suggests that inner journeys are irreversible and the choice we make define the person who we become and our understanding of life and the world. This idea is similar to lewis experience where his decision to direct Cosi fan tutti moulds him. Through a close analysis of the three texts Cosi, The film Ground hog day And the poem the road not taken by robert frost that convey the ideas that an inner journey forms as a response to lifes changes and particularly the climatic moments which force a spiritual, mental and emotional re-evaluation of values of priorities.

Free Essays on Fichtes Vocation Of Man

Choosing ones ‘vocation’ is not only based upon deep reflection of self but also of the world and how you receive it. There are many facets that can influence how each individual sees that world and their position in it. This is the essence of vocation and that which Johann Fichte explores in his Vocation of Man. It is grounded in three schools of thought, deterministic realism, theoretical idealism, and practical idealism. These schools are the basis of this paper, and through them I will give an explanation of Mr. Fichtes struggle to define his own vocation. Along with it I will show which vocation I have chosen and whether or not I have agreed with Mr. Fichte’s argument. In book one, Fichte describes deterministic realism. This philosophy is thought to be a system of continual caused events that interconnect all previous and future events. This chain is what brought you as a living agent, into being. The causal chain is that by which we derive our knowledge of our world, what we know must be based on prior causes that are events in nature. These events according to Fichte are due to Nature, and the reality of nature is all there is. All that a person does is preordained through the causal chain of nature. Throughout the text Fichte is confronted with the idea that he is part of nature, so much a part in fact that he himself is just an expression of that nature. And in being this expression we discover that our being is a product of prior events of condition, we begin no new events that are not based on a previous event and we stop nothing based on the same reasoning. For Mr. Fichte this presents a problem of freedom and self-determination. Fichte states this in book one, The time of my coming to be and the character with which I came to be were determined by this general force of nature; and all the various ways in which these, my inherited characteristics, have found expression since then and will find expression so long ... Free Essays on Fichte's Vocation Of Man Free Essays on Fichte's Vocation Of Man Choosing ones ‘vocation’ is not only based upon deep reflection of self but also of the world and how you receive it. There are many facets that can influence how each individual sees that world and their position in it. This is the essence of vocation and that which Johann Fichte explores in his Vocation of Man. It is grounded in three schools of thought, deterministic realism, theoretical idealism, and practical idealism. These schools are the basis of this paper, and through them I will give an explanation of Mr. Fichtes struggle to define his own vocation. Along with it I will show which vocation I have chosen and whether or not I have agreed with Mr. Fichte’s argument. In book one, Fichte describes deterministic realism. This philosophy is thought to be a system of continual caused events that interconnect all previous and future events. This chain is what brought you as a living agent, into being. The causal chain is that by which we derive our knowledge of our world, what we know must be based on prior causes that are events in nature. These events according to Fichte are due to Nature, and the reality of nature is all there is. All that a person does is preordained through the causal chain of nature. Throughout the text Fichte is confronted with the idea that he is part of nature, so much a part in fact that he himself is just an expression of that nature. And in being this expression we discover that our being is a product of prior events of condition, we begin no new events that are not based on a previous event and we stop nothing based on the same reasoning. For Mr. Fichte this presents a problem of freedom and self-determination. Fichte states this in book one, The time of my coming to be and the character with which I came to be were determined by this general force of nature; and all the various ways in which these, my inherited characteristics, have found expression since then and will find expression so long ...

Topic is the Vietnam war. The main thrust of your comment will be from Essay

Topic is the Vietnam war. The main thrust of your comment will be from the view point of the aggressor. For example, if WWII - Essay Example Ho Chi Minh being a communist and an aggressor, he started guerilla violence in opposition to the Japanese with the sustainability of the United States of America. Towards the end of the war, the Japanese began promoting the Vietnamese patriotism and in the end approved the country's ostensible independence. According to Caputo, in the subsequent years the Japanese were defeated and the French returned to occupy their colony (287). Viet Minh singly accepted their access into Vietnam after being assured that the country was to be granted independence as part of an agreement with the French union. However, negotiations broke down between the two warring factions and in December 1946, the French soldiers’ surrounded the city of Haiphong and compulsorily got back the capital city Hanoi. These events started the clash between the Viet Minh and the French, which resulted in the Indochina War. The French soldiers were at last defeated at Dien Bien Phu in the year 1954 (Karnow 501). D owns further illustrates that in the beginning, the United States of America had no interest in Southeast Asia and Vietnam (211). Nevertheless, it became obvious that after the World War II the globe would be subjugated by the United States of America and its allies. The Soviet Union together with its allies was at the opposite side of the fence. This isolated the communist movements as a strategy for their success. These concerns were in the end converted into the principle of domino theory; the only remaining option of containing the communist tendencies is to close them within their borders. Tonsenic asserts that these trends continued dominating the United States foreign policy for a long time (165). In 1950, to stop the spread of communism, the U.S began supplying weapons to the French military in Vietnam and financially assisting the French troops. This was meant to dismantle the Viet Minh; these operations continued into the year 1956, when highly trained advisors provided co aching facilities to the army of the newly established Republic of South Vietnam. In spite of their excellent hard work, the army of the republic of Vietnam was poorly equipped and, therefore, ineffective throughout its existence. Karnow shows how the US continued supporting the Diem regime as it battled against Ho Chi Minh’s Marxist military aggressors in the north (624). In the year 1957, a small guerrilla pressure group began to come forward in the south, led by Viet Minh’s soldiers that had not come back from the north after the accords. In 1959, these groups fruitfully pressured Ho’s administration into issuing an undisclosed resolution requesting for an equipped struggle in the south. Military personnel along with the Ho Chi Minh group began supplying weapons and troops into the south. The subsequent year, National Front for the Liberation of South Vietnam began in earnest to carry on the fight (Downs 167-168). The situation continued to deteriorate in Sou th Vietnam, worsened by the corrupt regime of Diem government and the Viet Cong continued encroachment. In 1961, the Kennedy administration agreed to pump more aid, weapons, and additional financial support to the rebels. Washington had begun deliberations to force a government transformation in Saigon. In November 2, 1963, the Criminal Investigation Agency CIA of the US assisted the rebels to remove the Diem government from power. In order to mitigate the post coup d'etat chaos, President Kennedy enlarged the number of US soldiers in South Vietnam to

Changes needed to Palliative care today Thesis Example | Topics and Well Written Essays - 5000 words

Changes needed to Palliative care today - Thesis Example She recommended that the palliative care component and appropriate standards be included in the needs assessment and in the contracts for hospitals and community services. According to Morrow (2009) the aim of palliative care is to improve the quality of the life of patients and their families who faces a life-threatening illness. Its focus is to alleviate them through prevention and the treatment of suffering. Palliative care involves the self (physical, emotional, spiritual) of the patient as well as their families. This care provides relief from pain and other symptoms related to the illness (fatigue, nausea, shortness of breath, loss of appetite). The aim is to prevent and relieve these symptoms so that the patient may continue with his or her daily life. Hospice care is one form of palliative care. The palliative care may be offered at any given time of an illness with curative therapies which are meant to prolong life versus hospice care, designed for patients that have a terminal illness and the life expectancy is of six months or less (Morrow, 2009). The palliative team is composed of doctors treating different conditions (diabetes, heart diseases, kidney disease). The palliative care doctor will generally orchestrate the care between several specialists to create a perfect harmony. The palliative care team may include: Palliative care physicians; specialists or general practitioners; nurses; nursing assistants or home health aides; social workers; chaplains; physical, occupational, and speech therapists. This team may assist in the health care choices that may be right for the patients (Morrow, 2009). The palliative care may be given in hospitals (chemotherapy, radiation) or at home. The subacute team is similar in its composition, except that they include: in-house medical staff, registered nurses and certified nurse aides, dietary, therapeutic recreation specialist, and an

Concept Analysis Research Paper Example | Topics and Well Written Essays - 1500 words - 2

Concept Analysis - Research Paper Example Last but not least, the nurse should inform patients about their discharge medications, how to take the medications, when to take them, and common side effects of such medications. Though this is what should be discussed, many times, the nurses in the emergency department that I work in simply hand the patients’ their discharge paperwork without going over it. This leads to patients calling the hospital from confusion of discharge instructions. This also causes patients to come back to the emergency department due to limited understanding of discharge instructions. For example, some patients may stop taking their antibiotics because they feel better, causing them to get worse. According to the Oxford dictionary, comprehension denotes ability to understand something. Thus, in the context of a hospital discharge instructions the requirement for the nurse is to ensure that the patient understands these instructions. Unfortunately, it has been observed that this is not always the case studies on this subject indicate that ninety million Americans have a problem comprehending their own medical care. One reason for this is that most health-related documentation is above the typical users reading capacity (McCarthy et al 2012). Additionally, published discharge directions are not written at apposite reading levels meaning that most of the emergency department patients fail to understand their instructions. The resolution to discharge a patient from the emergency department (ED) is not an easy one; however, it is fundamental that once the decision is made proper measures be taken to ascertain that the patient is well versed on how to continue with the care program. The ability to continue with the care program has many ramifications that exceed direct benefits to the individual in regard to health. Other benefits can also be linked to the healthcare system as poor comprehension means that patients are at an

Entrepreneurship and Microfinance Impact on the Poor

Entrepreneurship and Microfinance Impact on the Poor Chapter One: Introduction Background Around the world economies have experienced high growth and financial systems have undergone major transformation, a significant number of people especially in the developing countries do not have access to finance. Policy makers have increasingly promoted the use of microfinance as a tool to eradicate poverty and implement financial inclusion strategies. Pakistan being a developing country is no exception to this, having a large number of people that are poor with limited recourse to livelihood. Though limited in its scope, microfinance in Pakistan has been able to bring some of the large number of unbanked people into the banking network and has also helped in improving their socioeconomic condition (SBP ILO, 2009). About 90 % of the people in developing countries lack access to financial services from institutes, either for credit or saving, which further fuels the â€Å"Vicious Cycle of Poverty† in Figure 1. A lack of assess to financial institutions also hinders the ability for entrepreneurs. Microfinance serves as a means to empower the poor and provides a valuable tool to assist economic development process. Pakistan is fourth most populous country in Asia and sixth in the world. Having an average annual growth rate of 2.02 percent the population of the country reached 160 million in 2007 as compared to 139 million in 2002. Two third of the population is living in rural areas and the working age population (15-60 years) is increasing which was 51% in 1998 and 57% in 2008 (SBP, 2008). In 2008, about 24% population is living under the line of poverty which was 34.46% in 2002. There is significant increase in economic growth and improvement in Social Sector Development. Now Pakistan has shifted from Low Human Development group to the category of Medium Human Development (Global Monitoring Report, 2007). Despite all these improvements, poverty is a major issue which every government is combating against. Pakistan is a country with high population growth and increasing ratio of labor force. According to Economic Survey 2007-08, Pakistan has 51.78 million active labor forces while 2.69 million out of this is unemployed. If we look unemployment gender wise, despite of women ratio of population which is 49.6%, ratio in labor force is only 25% (10.08 million out 51 million) of total labor force. Government of Pakistan has taken many steps to increase women participation in labor force, still women ratio is very less to over all labor force and it is not matching to world standards and trends about women participation in business and job opportunities (SBP, 2008). All these facts show potential to work in microfinance to encourage people and specially women to develop their own entrepreneur so that men in general and women specially can contribute a productive part of society to make it a sustainable. To combat unemployment, only big companies or public sector are not enough for job creation but it would be better if people start their own business for making society productive. Microfinance is being recognized by different researchers as an effective tool to fight poverty by providing financial services to those who do not have access to or are neglected by the commercial banks and financial institutions. Microfinance has been successfully implemented by Grameen Bank. Back to 1976, Mohammad Yunus took initiative of lending loans by developing solidarity group of women in Jobra village, Bangladesh. Many MFIs has adopted idea adding with new strategies and now serving poor in effective way. Now Garmeen Model is a successful approach of microfinance. Microfinance is being considered as one of the most essential and an effective driving force for poverty reduction and alleviation. Kashf case attracted me because Kashf believes in a world where financial inclusion is a possibility and where poor women are fully engaged in realizing the economic dreams of their families. Kashaf vision of â€Å"Financial Services for All† posits a miracle for transforming the role of women in society and for making a poverty free world a reality. Statement of Problem Although social entrepreneurship plays great role as looking to the world real and see clearly what is happening, feel responsibility for financially weak people and help them as much as they can. It is also a big challenge to the entrepreneurs and organizations that they should take steps to eliminate unbalance between different levels in society. In other way, this thought encouraged me to choose this problem. I think that empowerment of poor people by microfinance and with combination of micro entrepreneurship is a great idea. You can never help people just giving money. But you can help people giving them job and help to create their small businesses in order to optimize their share of production to the society. All these issues lead to research on this topic that how microfinance is contributing for entrepreneurship in low income communities of developing countries, how sustainable society is evolving as the result of doing own business in low income communities and how Kashf’s way of microfinance is supporting all of this process. Research Objectives To be meaningful, every work must have to formulate the objectives of the study (Mark Saunders, Philip Lewis, Andrian Tronhill, 2007). Although most of research has been done either microfinance or entrepreneurship separately. But in my opinion there is close relationship between microfinance and entrepreneurship. As social entrepreneurship is doing a lot for credit pool of MFIs with social services, micro entrepreneurship can be found in micro enterprise. As per research topic the objective is research on the issue that how do microfinance and entrepreneurship work for poverty alleviation and empowerment of poor. Research Questions The study was conducted with the guidance of the following questions. How microfinance is contributing for entrepreneurship? How do microfinance and entrepreneurship work for reduce poverty, empower poor in Pakistan? How do microfinance entrepreneurship work for sustainable development in Pakistan? Research Methodology The research methodology of this paper will be qualitative. My work is covering two main topics; entrepreneurship and microfinance with discussing three factors; poverty reduction, empowerment of poor and sustainable development. In this paper data collection techniques are used, interviews as primary source and internet, web pages, articles, annual reports, books etc.) as a secondary source. The research type will use deductive and empirical data will analyze by the help of conceptual framework, develop after literature review. Significance of The Study A lot of research is doing on Entrepreneurship and Social Entrepreneurship because it is emerging thread in business. On microfinance and entrepreneurship much research work has been while discussing in Grameen model. For both fields in terms of combining microfinance and entrepreneurship this research will lead a new horizon. It will also give a vision, to Kashf that how they can improve microfinance lending process, and other Microfinance institutions (MFIs) that how they can develop process in more effective way. Further, students, researchers in Microfinance field, NGO’s and Governmental organizations can extend research in this area to address the issue of poverty alleviation and empowerment of poor. Assumptions Limitations The assumption of this research is that all information, written in the reports, news, web page true and can be used fairly. The study does not cover all the aspects that the promotion of microfinance requires. It was difficult to organize interviews at large scale from borrowers due to distance problem between Pakistan and The Netherlands and this can reflect limited information about micro entrepreneurship. I primarily focused on microfinance and entrepreneurship role in reduce poverty and empower people. Organization of Study The thesis will consists of six chapters and will be organized in the following manners: Chapter One: Introduction: Briefly introduces the background information of the study. In addition, it consists of, statement of the problem, research objectives, and research questions to be addressed, significance of the study, research methodology, scope and limitation of the study. Chapter Two: Literature Review: Describe different theories and readers will look on previous research on the research topic. Also, discuss microfinance, its different models and how microfinance contributes in poverty alleviation, and theories about entrepreneurship and social entrepreneurship. Chapter Three: Theoretical Framework and Research Methodology: It will be building a theoretical framework that will use while analyzing empirical data. Chapter Four: Empirical Findings: It will present empirical data collect through borrower’s interviews and Kashf’s administration. Empirical daa is including facts and figure about poverty, unemployment, economy and microfinance. There is also detail information about Kashf Foundation. Chapter Five: Analysis of Data and Interpretation: It will present analysis regarding need of interactive strategy of microfinance and entrepreneurship, social services and intermediation by Kashf and sustainability issue. Chapter Six: Conclusions: Finally findings and conclusions will be put in the light of previous discussions. Chapter Two: Literature Review 2.1 Introduction The extent to which microfinance, entrepreneurship and sustainability are interrelated is dependent on the extent to which it addresses the economic development process. Yunus (1994), claims, â€Å"If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power.† Credit invested in an income-generating enterprise as working capital or for productive assets leads to establishment of a new enterprise or growth of an existing one. Profit from the enterprise provides income, and a general strengthening of income sources. A variety of financial institutions, worldwide, have found ways to make lending to the poor sustainable and to build on the fact that even the poor self-employed repay their loans and seek savings opportunities. The challenge is to build capacity in the financial sector drawing on lessons from international best practices in micro, small enterprises and rural finance. The extent to which microfinance, entrepreneurship and sustainability are interdependent is becoming increasingly recognized by experts in their respective fields of work, associated with economic development. Over 500 million poor people around the world run profitable microenterprises and often cite credit as the primary constraint to business growth (IFC, 2002). Robinson (2002), a prominent expert in the field of microfinance, notes that â€Å"The formal sector has begun to realize that financing the poor can be both economically and socially profitable.† 2.2 What is Microfinance? Poor people are not able to access loans from commercial banks normally because of lack in guarantee and collateral. But there are also many other reasons involved for which commercial banks were not willing to finance poor. These reasons are included that poor have less education, experience and training, high expenses on transactions of small loans and lower rate of profit. This situation resulted in emerging the idea of micro lending and microfinance. Microfinance, therefore, a way to finance people, those have no collateral or any property for guarantee. Microfinance is a way of financing to poor for their business, to alleviate their poverty, empowering them, giving social benefits on sustainable way. Due to microfinance, there are many possibilities have emerged including extending markets, reducing poverty and fostering social change (Agion Morduch, 2005, pp.3). But there is general concept that microfinance is just lending loan to poor but as I mentioned that microfinance is no more only loans but covering the issues of poverty alleviation, putting social impact on poor and educating poor to savings. Therefore, MFIs, today, not only NGOs but serving as a complete banking system. This discussion lead to me that microfinance is a form of financial services for poor to help them for their business activities by giving micro credit. There is no one universal accepted definition of microfinance as different related variables like poverty, lone size, the poor and the poverty line carry different meanings in different countries. Different authors have defined the term in different ways. According to CGAP, Access to financial services puts power into the hands of poor people. Evidence shows that when poor people have financial services, they use their savings or loans to improve their families’ lives in a variety of ways: sending their children to school, buying better medicines and more nutritious food, fixing a leaky roof, meeting social and cultural obligations like paying weddings and funerals, and building income generating potential by investing in business (CGAP 2007). Microfinance has evolved as an economic development approach intended to benefit low-income women and men. The term refers to the provision of financial services to low-income clients, including the self employed (Ledgerwood, 2000, pp.1). While according to ADB (2008) Microfinance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their microenterprises. These definitions are elaborating that microfinance is a financial services but designed specifically for poor to improve their lives in sustainable way. 2.2.1 Microfinance Activities Economic activities are based upon sellers and buyers and their capacity. Sellers, before market their product, look at buyer intention and capacity. On the other hand, banking activities depend on both sellers and buyers. Financial institutions/lenders finance both sellers and buyers for their activities and commercial banks invested in projects at large scale while with this, banks invested in consumer finance also. Usually MFIs don’t invest in consumer finance, but give finance only for micro enterprise. MFIs encourage people to improve their standards by doing businesses and earning from them and this is a consistent and sustainable way. In fig (2), microfinance is dedicated only to poor and explicitly for business activities. But with this, there are some indirect impacts of microfinance on the micro borrower which are alleviation of poverty, improvement in healthcare, increase in literacy and other social impacts. These figures are taken from Ledgerwood, 2000. Figure 1: Economic Activity by Commercial Banking Figure 2: Economic Activity by MFIs There are many activities and characteristics are included in microfinance. Some are (Ledgerwood, 2000, pp.1): Small and short term loans Social collateral rather than financial collateral Access to larger amount of loan if repayment performance is positive Search and access the real poor and their business demand Continuous monitoring of business. Higher interest rates on loan due expensive financial transactions and risk factor. Easy way to access finance, therefore not too much paper work, and easy and short procedures. Saving Services and training services to borrower’s development. Literacy training to borrowers so that they can come up with competence to daily business problems and its solutions. Health care, social services and other skill training services to provide borrower a sustainable base for their business development. 2.3 Microfinance A Developmental Tool Due to lack of financial resources in developing countries, people from low income communities while having innovative idea for their business, even as shop keeper or house hold products manufacturer, they can’t implement their ideas. This low economic activity in low income communities due to lack of financial resources lead them to more poverty and poor life standards. Generally financial services cover savings and credit activities and there is same concept about MFIs. But according to Ledgerwood (2000), MFIs work for general financial services with this they provide insurance and payment services to their clients. But important aspect of MFIs is not only financial intermediation but also providing social intermediation and social services to their clients. Social intermediation and social services contain many activities including trainings, management development, and financial literacy activities. Furthermore, many MFIs, arrange get together where experienced people guid e others, where they give useful suggestions, tips and other tactics for their business. Microfinance is providing financial services along with social services. Normally, social services are not applicable in general banking system. So, microfinance is not simply banking system but development tool, combining both financial and social intermediation (Ledgerwood, 2000). 2.3.1 Different Services by MFIs Financial Intermediation The primary objective of MFIs is financial intermediation because without loan/money social intermediations can not work. As prior discussions that poor face barriers to access finance from general financial service institutions. In this regard, MFIs become a bridge to access finance and in result to poverty alleviation, health care and education literacy (Ledgerwood, 2000). MFIs provide many financial services including credit, savings, insurance credit cards, payment services etc. It is not necessary that every MFI should facilitate their customers by all these services but MFIs can facilitate anyone of these services or all. The choice of which financial services to provide and the method of providing these services depend on the objectives of MFI, the demands of its target market and its institutional structure (Ledgerwood 2000, pp.66). Social Intermediations Social intermediations for individual whose social and economic disadvantages place them beyond the frontier of formal finance (Von Pischke 1991). A successful financial intermediation is often accompanied by social intermediation. It covers the issues of group formation, leadership training and cooperative learning, is secondary role of microfinance for borrowers of MFIs. Development in Social capital is a basic ingredient of sustainable development in poor’s life and especially in society. Social intermediation is process of building the human and social capital required by sustainable financial intermediation for poor (Ledgerwood 2000, pp.64). Now question rise, how social capital be acquire and strengthen? Social capital is actually links between clients of a group and multiple groups, and between MFIs and borrowers. These links establish on the basis of strong foundation of trust and cooperation (Agion Morduch, 2005). The ratio of social capital will increase with increase in business activities among members, and financial transaction between lender and borrowers. It is normally developed through group activities but there are other ways to develop it by individually. In group social intermediation, activities perform inside the group with some help from outside to develop institutional capacity and human resource. In group, most of members belong from remote areas, having less literate and experience about business and financial transaction. So from group formation to selecting leader, developing networks and working mutually, MFIs support borrower to deal with these issues. Therefore, these members need training in record keeping, book keeping, accounting, training about business activities and tactics, and negotiation skills (Ledgerwood,2000). Enterprise Development Services Micro finance institutions (MFIs), not all, support to borrowers, either in group or individual in different enterprise development services like marketing, business and accounting training etc. This service can be divided in to two parts, enterprise formation and enterprise transformation. In enterprise formation, MFIs provide technical support to group or individual in start up of business, development and maturing ideas and maturing the skills. During in transformation of enterprise, MFIs arrange trainings for their borrowers, workshops and get together for developing latest skills in their business area (Ledgerwood, 2000). Figure 3: Minimalist and Integrated Approaches to Microfinance (Ledgerwood, 2000, pp.65) Minimalist Approach Integrated Approach One-missing piece Financial and non financial Credit Services Financial Intermediation Working Capital Fixed asset loans Savings Insurance Social Intermediation Group formation Leadership training Cooperative learning Social Services Education Health and Nutrition Literacy training Enterprise Development Service Marketing Business training Production training Social Services Microfinance practitioners define that, poverty can be addressed by financing poor for productive activities which in result comes up to their access to life necessities. But financial lending is only a one tool to poverty alleviation. Poor needs more than microfinance to address the problems of poverty and accessibility to other life needs like food, health, family planning, education, social support network and so on. In Ledgerwood (2000) MFIs serve to their clients with additional social services with financial intermediation. The best way to contact with their clients is in the form of group, that is the easy way to literate them, giving health care and other facilities. So in this way, MFIs would positive effect in the life of poor by offering financial services with supportive services. These supportive services, actually, play important role in sustainable human development and livelihood of the poor (Khan, Rahman, 1998). Social service should not implicate with financial or social intermediation because financial intermediation is primary service providing by MFIs. That means, there should be no additional cut off from loans in account social service but it should be provide by secondary means or by subsidies (Ledgerwood, 2000). 2.4 Microfinance Models The term model refers to â€Å"service delivery methods and microfinance products†. There are now nearly 70 million poor people who are getting benefits from 2500 MFIs in over 100 countries by microfinance (Sengupta, Aubuchon (2008). The poor’s conditions are different in different countries in world. These conditions are related to social, ideological and political issues (Weiss, Montgomery, 2004). Therefore, there are some distinctive differences between approaches and motive of microfinance. I will see briefly two approaches, which is very famous Grameen Model, originated from Bangladesh and other is Banco Sol Model, Bolivia. 2.4.1 Grameen Model In Grameen model, primary unit to whom lending fund is a group of 5 members that organize and apply for loan. In first stage loan is granted for two members to invest in their business. If these two members become successful to repay amount, then four to six weeks later, next two members are granted for loan. Last one member will be eligible for loan if previous two repay loan successfully. Repayment of loan open door for next loan and then go on if all members repay loan successfully. If anyone of group member will default in their loan, whole group will disqualified for further loan. Each group has its own president and secretary to coordinate all activities among their own group and to communicate and coordinate with other groups. Eight groups are then organized at center level, by which a bank officer deal with these all eight groups. This center of eight groups has its own center chief and center group leader (Khan, Rehman, 2007). According Sengupta, Aubuchon (2008), first time, bank granted loan $100 and bank require to repayment of 10 percent amount, at rate of per annum, weekly. This repayment ensures to user for loan security, and also encourages them for savings. Along with five percent of loan deposited in group account for emergency and social need. For example, in case of need of health care of any one member, in case of emergency, this five percent deposit will be use. A unique and innovative approach of group lending is used in Garmeen Model. As Sengupta, Aubuchon (2008) described that group lending have many benefits. First, group usually organize in members who are neighbor to each other, those can understand each other well and recognize their needs. Second, if anyone of group member will not present in group meeting, leader or other member can pay its installment. We can say that there is a kind of mutual understanding between all members. Third, in south Asia generally, and in Bangladesh specially, there are social pressures among members of society with social bindings with them. If one member of group will not pay even one installment, social pressure will be levied from all eight groups on this member and this reduces the risk factor. 2.4.2 Banco Sol Model Grameen model of microfinance emphasize on lending to villagers and keep loan lending on in smaller amount. The other core concept of model is formation of groups and these groups are eligible to take loan, no option of loan for individuals. Idea of progressive lending introduced to lend loan to individuals with group lending (Agion Morduch, 2005, pp.119). In this model after completion of every repayment schedule the amount of loan increased. But other characteristics of Grameen model (Group lending) are included in this method, like targeting to poor, women, group formation, and public payment. No doubt, progressive lending is an extension of group lending but now many MFIs are adopting this approach. In this model of Progressive lending, microlenders are flexible about collateral and lend loan to group with individuals also. This method is very helpful in areas with low population densities or highly diverse population where group forming is not so easy due to different ratio of safe and risky borrowers. In Bolivia, there was different situation when populist regime left government and there was high ratio of unemployment in urban areas. To come to fulfill the need of time, Banco Sol started operations in microfinance with progressive lending. Therefore we can say that microfinance approaches are evolved due to different political, ideological and social conditions. In Weiss Montgomery (2004, pp.3) Microfinance in Latin America developed under quite different conditions. In Bolivia, a collapsing populist regime led to widespread unemployment. Banco Sol, a pioneering microfinance institution in the region, developed to address the problem of urban unemployment and provide credit to the cash-strapped informal sector. The notion of commercial profitability was embraced relatively early in this approach. 2.5 Empowerment Poverty effects not only on individual’s life but also on society as a whole. Poverty is one of the main reasons in cause of less empowerment of poor especially in developing countries. Empowerment is a broad concept to define because there are many elements involve in it. These elements influence by including political, social and power system in the country. Empowerment covers many issues and when there is discussion on empowerment it includes many elements. These elements are, self-strength, control, self-power, self reliance, own choice, life of dignity, fighting for rights, independence, decision making, being free, capability , access to basic human needs etc.(PREM,WB, 2002). Misra (p.3) describes empowerment as a power to the people and self governance. He define that Empowerment builds self-reliance and strength in women, preparing them towards gathering the ability to determine the choice of life. This adds to the command over resources outwit insubordination and signify their social role. Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with little or no power gain the power and ability to make choices that affect their lives. Due to different social, political, economical conditions, we can not define a one definition for empowerment. According to Batliwala (Makombe, 2006, p.52), empowerment mean, take control over material assets, intellectual resources, and ideology. The material assets over which control can exercised may be physical, human, or financial, as land water, forests, people’s bodies and labor, money and access to money. Intellectual resources include ideas and knowledge information. Control over ideology signifies the ability to generate, propagate, sustain, and institutionalize specific sets beliefs, values, attitudes, and behavior-virtually determining how people perceive and function within a given socio-economic and political environment. Empowerment is the expansion of assets and capabilities of poor people to participate in negotiate with, influence, control, and hold accountable institutions that affect their lives. (PREM, WB 2002, p.11) define that A strategy for empowerment is taken at individual, government, civil society and private sector level. Usually these efforts lead to empower people in context of sharing of power, freedom of information, access to resources and health and education services. These strategies normally share four types of elements: First, Access to information, its mean every citizens including poor have direct access to information because information is power. Second, Inclusion/participation, that’s mean there should be opportunities for poor that they can participate in decision making and they should be included in all financial and political policies. Third is accountability, that’s mean officials, public servants, private actors should be accountable not only to some specific institutions but to their citizens for performance. Fourth and last one Local organizational capacity, its mean that people can work together, organize themselves, mobilize and utilize resources and solve problem at community level (PREM, WB (2002). 2.6 Entrepreneurship It is one of the most widely used terms in business, management, economics and other related fields. One of important thing is that entrepreneurship has different meaning for different people, some use it in the meaning of innovation, some use for creativity, risk taking, leadership, and profit maximization or in social context, and some consider it as start up of business, new production methods and many other different meanings. Davidsson, (2004) describes it that entrepreneurship is rich phenomenon which makes it a resourceful field. While defining entrepreneurship, I consider some school of thoughts that have major role to define this field. According to Schumpeter school of thought (Swedburg, 2000), Entrepreneurship is about innovation in organizational process, thinking up new combination, entrepreneurial behavior and motivation of entrepreneurs. While according to Gartner (Thornton, 1999), entrepreneurship is about creation of new organization or new startup, creating values and entrepreneur mean owner-manager. In Krizner’s view, entrepreneurship is searching opportunities and exploiting them so it reflects towards the alertness capability of entrepreneur towards profit opportu Entrepreneurship and Microfinance Impact on the Poor Entrepreneurship and Microfinance Impact on the Poor Chapter One: Introduction Background Around the world economies have experienced high growth and financial systems have undergone major transformation, a significant number of people especially in the developing countries do not have access to finance. Policy makers have increasingly promoted the use of microfinance as a tool to eradicate poverty and implement financial inclusion strategies. Pakistan being a developing country is no exception to this, having a large number of people that are poor with limited recourse to livelihood. Though limited in its scope, microfinance in Pakistan has been able to bring some of the large number of unbanked people into the banking network and has also helped in improving their socioeconomic condition (SBP ILO, 2009). About 90 % of the people in developing countries lack access to financial services from institutes, either for credit or saving, which further fuels the â€Å"Vicious Cycle of Poverty† in Figure 1. A lack of assess to financial institutions also hinders the ability for entrepreneurs. Microfinance serves as a means to empower the poor and provides a valuable tool to assist economic development process. Pakistan is fourth most populous country in Asia and sixth in the world. Having an average annual growth rate of 2.02 percent the population of the country reached 160 million in 2007 as compared to 139 million in 2002. Two third of the population is living in rural areas and the working age population (15-60 years) is increasing which was 51% in 1998 and 57% in 2008 (SBP, 2008). In 2008, about 24% population is living under the line of poverty which was 34.46% in 2002. There is significant increase in economic growth and improvement in Social Sector Development. Now Pakistan has shifted from Low Human Development group to the category of Medium Human Development (Global Monitoring Report, 2007). Despite all these improvements, poverty is a major issue which every government is combating against. Pakistan is a country with high population growth and increasing ratio of labor force. According to Economic Survey 2007-08, Pakistan has 51.78 million active labor forces while 2.69 million out of this is unemployed. If we look unemployment gender wise, despite of women ratio of population which is 49.6%, ratio in labor force is only 25% (10.08 million out 51 million) of total labor force. Government of Pakistan has taken many steps to increase women participation in labor force, still women ratio is very less to over all labor force and it is not matching to world standards and trends about women participation in business and job opportunities (SBP, 2008). All these facts show potential to work in microfinance to encourage people and specially women to develop their own entrepreneur so that men in general and women specially can contribute a productive part of society to make it a sustainable. To combat unemployment, only big companies or public sector are not enough for job creation but it would be better if people start their own business for making society productive. Microfinance is being recognized by different researchers as an effective tool to fight poverty by providing financial services to those who do not have access to or are neglected by the commercial banks and financial institutions. Microfinance has been successfully implemented by Grameen Bank. Back to 1976, Mohammad Yunus took initiative of lending loans by developing solidarity group of women in Jobra village, Bangladesh. Many MFIs has adopted idea adding with new strategies and now serving poor in effective way. Now Garmeen Model is a successful approach of microfinance. Microfinance is being considered as one of the most essential and an effective driving force for poverty reduction and alleviation. Kashf case attracted me because Kashf believes in a world where financial inclusion is a possibility and where poor women are fully engaged in realizing the economic dreams of their families. Kashaf vision of â€Å"Financial Services for All† posits a miracle for transforming the role of women in society and for making a poverty free world a reality. Statement of Problem Although social entrepreneurship plays great role as looking to the world real and see clearly what is happening, feel responsibility for financially weak people and help them as much as they can. It is also a big challenge to the entrepreneurs and organizations that they should take steps to eliminate unbalance between different levels in society. In other way, this thought encouraged me to choose this problem. I think that empowerment of poor people by microfinance and with combination of micro entrepreneurship is a great idea. You can never help people just giving money. But you can help people giving them job and help to create their small businesses in order to optimize their share of production to the society. All these issues lead to research on this topic that how microfinance is contributing for entrepreneurship in low income communities of developing countries, how sustainable society is evolving as the result of doing own business in low income communities and how Kashf’s way of microfinance is supporting all of this process. Research Objectives To be meaningful, every work must have to formulate the objectives of the study (Mark Saunders, Philip Lewis, Andrian Tronhill, 2007). Although most of research has been done either microfinance or entrepreneurship separately. But in my opinion there is close relationship between microfinance and entrepreneurship. As social entrepreneurship is doing a lot for credit pool of MFIs with social services, micro entrepreneurship can be found in micro enterprise. As per research topic the objective is research on the issue that how do microfinance and entrepreneurship work for poverty alleviation and empowerment of poor. Research Questions The study was conducted with the guidance of the following questions. How microfinance is contributing for entrepreneurship? How do microfinance and entrepreneurship work for reduce poverty, empower poor in Pakistan? How do microfinance entrepreneurship work for sustainable development in Pakistan? Research Methodology The research methodology of this paper will be qualitative. My work is covering two main topics; entrepreneurship and microfinance with discussing three factors; poverty reduction, empowerment of poor and sustainable development. In this paper data collection techniques are used, interviews as primary source and internet, web pages, articles, annual reports, books etc.) as a secondary source. The research type will use deductive and empirical data will analyze by the help of conceptual framework, develop after literature review. Significance of The Study A lot of research is doing on Entrepreneurship and Social Entrepreneurship because it is emerging thread in business. On microfinance and entrepreneurship much research work has been while discussing in Grameen model. For both fields in terms of combining microfinance and entrepreneurship this research will lead a new horizon. It will also give a vision, to Kashf that how they can improve microfinance lending process, and other Microfinance institutions (MFIs) that how they can develop process in more effective way. Further, students, researchers in Microfinance field, NGO’s and Governmental organizations can extend research in this area to address the issue of poverty alleviation and empowerment of poor. Assumptions Limitations The assumption of this research is that all information, written in the reports, news, web page true and can be used fairly. The study does not cover all the aspects that the promotion of microfinance requires. It was difficult to organize interviews at large scale from borrowers due to distance problem between Pakistan and The Netherlands and this can reflect limited information about micro entrepreneurship. I primarily focused on microfinance and entrepreneurship role in reduce poverty and empower people. Organization of Study The thesis will consists of six chapters and will be organized in the following manners: Chapter One: Introduction: Briefly introduces the background information of the study. In addition, it consists of, statement of the problem, research objectives, and research questions to be addressed, significance of the study, research methodology, scope and limitation of the study. Chapter Two: Literature Review: Describe different theories and readers will look on previous research on the research topic. Also, discuss microfinance, its different models and how microfinance contributes in poverty alleviation, and theories about entrepreneurship and social entrepreneurship. Chapter Three: Theoretical Framework and Research Methodology: It will be building a theoretical framework that will use while analyzing empirical data. Chapter Four: Empirical Findings: It will present empirical data collect through borrower’s interviews and Kashf’s administration. Empirical daa is including facts and figure about poverty, unemployment, economy and microfinance. There is also detail information about Kashf Foundation. Chapter Five: Analysis of Data and Interpretation: It will present analysis regarding need of interactive strategy of microfinance and entrepreneurship, social services and intermediation by Kashf and sustainability issue. Chapter Six: Conclusions: Finally findings and conclusions will be put in the light of previous discussions. Chapter Two: Literature Review 2.1 Introduction The extent to which microfinance, entrepreneurship and sustainability are interrelated is dependent on the extent to which it addresses the economic development process. Yunus (1994), claims, â€Å"If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power.† Credit invested in an income-generating enterprise as working capital or for productive assets leads to establishment of a new enterprise or growth of an existing one. Profit from the enterprise provides income, and a general strengthening of income sources. A variety of financial institutions, worldwide, have found ways to make lending to the poor sustainable and to build on the fact that even the poor self-employed repay their loans and seek savings opportunities. The challenge is to build capacity in the financial sector drawing on lessons from international best practices in micro, small enterprises and rural finance. The extent to which microfinance, entrepreneurship and sustainability are interdependent is becoming increasingly recognized by experts in their respective fields of work, associated with economic development. Over 500 million poor people around the world run profitable microenterprises and often cite credit as the primary constraint to business growth (IFC, 2002). Robinson (2002), a prominent expert in the field of microfinance, notes that â€Å"The formal sector has begun to realize that financing the poor can be both economically and socially profitable.† 2.2 What is Microfinance? Poor people are not able to access loans from commercial banks normally because of lack in guarantee and collateral. But there are also many other reasons involved for which commercial banks were not willing to finance poor. These reasons are included that poor have less education, experience and training, high expenses on transactions of small loans and lower rate of profit. This situation resulted in emerging the idea of micro lending and microfinance. Microfinance, therefore, a way to finance people, those have no collateral or any property for guarantee. Microfinance is a way of financing to poor for their business, to alleviate their poverty, empowering them, giving social benefits on sustainable way. Due to microfinance, there are many possibilities have emerged including extending markets, reducing poverty and fostering social change (Agion Morduch, 2005, pp.3). But there is general concept that microfinance is just lending loan to poor but as I mentioned that microfinance is no more only loans but covering the issues of poverty alleviation, putting social impact on poor and educating poor to savings. Therefore, MFIs, today, not only NGOs but serving as a complete banking system. This discussion lead to me that microfinance is a form of financial services for poor to help them for their business activities by giving micro credit. There is no one universal accepted definition of microfinance as different related variables like poverty, lone size, the poor and the poverty line carry different meanings in different countries. Different authors have defined the term in different ways. According to CGAP, Access to financial services puts power into the hands of poor people. Evidence shows that when poor people have financial services, they use their savings or loans to improve their families’ lives in a variety of ways: sending their children to school, buying better medicines and more nutritious food, fixing a leaky roof, meeting social and cultural obligations like paying weddings and funerals, and building income generating potential by investing in business (CGAP 2007). Microfinance has evolved as an economic development approach intended to benefit low-income women and men. The term refers to the provision of financial services to low-income clients, including the self employed (Ledgerwood, 2000, pp.1). While according to ADB (2008) Microfinance is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers, and insurance to poor and low-income households and, their microenterprises. These definitions are elaborating that microfinance is a financial services but designed specifically for poor to improve their lives in sustainable way. 2.2.1 Microfinance Activities Economic activities are based upon sellers and buyers and their capacity. Sellers, before market their product, look at buyer intention and capacity. On the other hand, banking activities depend on both sellers and buyers. Financial institutions/lenders finance both sellers and buyers for their activities and commercial banks invested in projects at large scale while with this, banks invested in consumer finance also. Usually MFIs don’t invest in consumer finance, but give finance only for micro enterprise. MFIs encourage people to improve their standards by doing businesses and earning from them and this is a consistent and sustainable way. In fig (2), microfinance is dedicated only to poor and explicitly for business activities. But with this, there are some indirect impacts of microfinance on the micro borrower which are alleviation of poverty, improvement in healthcare, increase in literacy and other social impacts. These figures are taken from Ledgerwood, 2000. Figure 1: Economic Activity by Commercial Banking Figure 2: Economic Activity by MFIs There are many activities and characteristics are included in microfinance. Some are (Ledgerwood, 2000, pp.1): Small and short term loans Social collateral rather than financial collateral Access to larger amount of loan if repayment performance is positive Search and access the real poor and their business demand Continuous monitoring of business. Higher interest rates on loan due expensive financial transactions and risk factor. Easy way to access finance, therefore not too much paper work, and easy and short procedures. Saving Services and training services to borrower’s development. Literacy training to borrowers so that they can come up with competence to daily business problems and its solutions. Health care, social services and other skill training services to provide borrower a sustainable base for their business development. 2.3 Microfinance A Developmental Tool Due to lack of financial resources in developing countries, people from low income communities while having innovative idea for their business, even as shop keeper or house hold products manufacturer, they can’t implement their ideas. This low economic activity in low income communities due to lack of financial resources lead them to more poverty and poor life standards. Generally financial services cover savings and credit activities and there is same concept about MFIs. But according to Ledgerwood (2000), MFIs work for general financial services with this they provide insurance and payment services to their clients. But important aspect of MFIs is not only financial intermediation but also providing social intermediation and social services to their clients. Social intermediation and social services contain many activities including trainings, management development, and financial literacy activities. Furthermore, many MFIs, arrange get together where experienced people guid e others, where they give useful suggestions, tips and other tactics for their business. Microfinance is providing financial services along with social services. Normally, social services are not applicable in general banking system. So, microfinance is not simply banking system but development tool, combining both financial and social intermediation (Ledgerwood, 2000). 2.3.1 Different Services by MFIs Financial Intermediation The primary objective of MFIs is financial intermediation because without loan/money social intermediations can not work. As prior discussions that poor face barriers to access finance from general financial service institutions. In this regard, MFIs become a bridge to access finance and in result to poverty alleviation, health care and education literacy (Ledgerwood, 2000). MFIs provide many financial services including credit, savings, insurance credit cards, payment services etc. It is not necessary that every MFI should facilitate their customers by all these services but MFIs can facilitate anyone of these services or all. The choice of which financial services to provide and the method of providing these services depend on the objectives of MFI, the demands of its target market and its institutional structure (Ledgerwood 2000, pp.66). Social Intermediations Social intermediations for individual whose social and economic disadvantages place them beyond the frontier of formal finance (Von Pischke 1991). A successful financial intermediation is often accompanied by social intermediation. It covers the issues of group formation, leadership training and cooperative learning, is secondary role of microfinance for borrowers of MFIs. Development in Social capital is a basic ingredient of sustainable development in poor’s life and especially in society. Social intermediation is process of building the human and social capital required by sustainable financial intermediation for poor (Ledgerwood 2000, pp.64). Now question rise, how social capital be acquire and strengthen? Social capital is actually links between clients of a group and multiple groups, and between MFIs and borrowers. These links establish on the basis of strong foundation of trust and cooperation (Agion Morduch, 2005). The ratio of social capital will increase with increase in business activities among members, and financial transaction between lender and borrowers. It is normally developed through group activities but there are other ways to develop it by individually. In group social intermediation, activities perform inside the group with some help from outside to develop institutional capacity and human resource. In group, most of members belong from remote areas, having less literate and experience about business and financial transaction. So from group formation to selecting leader, developing networks and working mutually, MFIs support borrower to deal with these issues. Therefore, these members need training in record keeping, book keeping, accounting, training about business activities and tactics, and negotiation skills (Ledgerwood,2000). Enterprise Development Services Micro finance institutions (MFIs), not all, support to borrowers, either in group or individual in different enterprise development services like marketing, business and accounting training etc. This service can be divided in to two parts, enterprise formation and enterprise transformation. In enterprise formation, MFIs provide technical support to group or individual in start up of business, development and maturing ideas and maturing the skills. During in transformation of enterprise, MFIs arrange trainings for their borrowers, workshops and get together for developing latest skills in their business area (Ledgerwood, 2000). Figure 3: Minimalist and Integrated Approaches to Microfinance (Ledgerwood, 2000, pp.65) Minimalist Approach Integrated Approach One-missing piece Financial and non financial Credit Services Financial Intermediation Working Capital Fixed asset loans Savings Insurance Social Intermediation Group formation Leadership training Cooperative learning Social Services Education Health and Nutrition Literacy training Enterprise Development Service Marketing Business training Production training Social Services Microfinance practitioners define that, poverty can be addressed by financing poor for productive activities which in result comes up to their access to life necessities. But financial lending is only a one tool to poverty alleviation. Poor needs more than microfinance to address the problems of poverty and accessibility to other life needs like food, health, family planning, education, social support network and so on. In Ledgerwood (2000) MFIs serve to their clients with additional social services with financial intermediation. The best way to contact with their clients is in the form of group, that is the easy way to literate them, giving health care and other facilities. So in this way, MFIs would positive effect in the life of poor by offering financial services with supportive services. These supportive services, actually, play important role in sustainable human development and livelihood of the poor (Khan, Rahman, 1998). Social service should not implicate with financial or social intermediation because financial intermediation is primary service providing by MFIs. That means, there should be no additional cut off from loans in account social service but it should be provide by secondary means or by subsidies (Ledgerwood, 2000). 2.4 Microfinance Models The term model refers to â€Å"service delivery methods and microfinance products†. There are now nearly 70 million poor people who are getting benefits from 2500 MFIs in over 100 countries by microfinance (Sengupta, Aubuchon (2008). The poor’s conditions are different in different countries in world. These conditions are related to social, ideological and political issues (Weiss, Montgomery, 2004). Therefore, there are some distinctive differences between approaches and motive of microfinance. I will see briefly two approaches, which is very famous Grameen Model, originated from Bangladesh and other is Banco Sol Model, Bolivia. 2.4.1 Grameen Model In Grameen model, primary unit to whom lending fund is a group of 5 members that organize and apply for loan. In first stage loan is granted for two members to invest in their business. If these two members become successful to repay amount, then four to six weeks later, next two members are granted for loan. Last one member will be eligible for loan if previous two repay loan successfully. Repayment of loan open door for next loan and then go on if all members repay loan successfully. If anyone of group member will default in their loan, whole group will disqualified for further loan. Each group has its own president and secretary to coordinate all activities among their own group and to communicate and coordinate with other groups. Eight groups are then organized at center level, by which a bank officer deal with these all eight groups. This center of eight groups has its own center chief and center group leader (Khan, Rehman, 2007). According Sengupta, Aubuchon (2008), first time, bank granted loan $100 and bank require to repayment of 10 percent amount, at rate of per annum, weekly. This repayment ensures to user for loan security, and also encourages them for savings. Along with five percent of loan deposited in group account for emergency and social need. For example, in case of need of health care of any one member, in case of emergency, this five percent deposit will be use. A unique and innovative approach of group lending is used in Garmeen Model. As Sengupta, Aubuchon (2008) described that group lending have many benefits. First, group usually organize in members who are neighbor to each other, those can understand each other well and recognize their needs. Second, if anyone of group member will not present in group meeting, leader or other member can pay its installment. We can say that there is a kind of mutual understanding between all members. Third, in south Asia generally, and in Bangladesh specially, there are social pressures among members of society with social bindings with them. If one member of group will not pay even one installment, social pressure will be levied from all eight groups on this member and this reduces the risk factor. 2.4.2 Banco Sol Model Grameen model of microfinance emphasize on lending to villagers and keep loan lending on in smaller amount. The other core concept of model is formation of groups and these groups are eligible to take loan, no option of loan for individuals. Idea of progressive lending introduced to lend loan to individuals with group lending (Agion Morduch, 2005, pp.119). In this model after completion of every repayment schedule the amount of loan increased. But other characteristics of Grameen model (Group lending) are included in this method, like targeting to poor, women, group formation, and public payment. No doubt, progressive lending is an extension of group lending but now many MFIs are adopting this approach. In this model of Progressive lending, microlenders are flexible about collateral and lend loan to group with individuals also. This method is very helpful in areas with low population densities or highly diverse population where group forming is not so easy due to different ratio of safe and risky borrowers. In Bolivia, there was different situation when populist regime left government and there was high ratio of unemployment in urban areas. To come to fulfill the need of time, Banco Sol started operations in microfinance with progressive lending. Therefore we can say that microfinance approaches are evolved due to different political, ideological and social conditions. In Weiss Montgomery (2004, pp.3) Microfinance in Latin America developed under quite different conditions. In Bolivia, a collapsing populist regime led to widespread unemployment. Banco Sol, a pioneering microfinance institution in the region, developed to address the problem of urban unemployment and provide credit to the cash-strapped informal sector. The notion of commercial profitability was embraced relatively early in this approach. 2.5 Empowerment Poverty effects not only on individual’s life but also on society as a whole. Poverty is one of the main reasons in cause of less empowerment of poor especially in developing countries. Empowerment is a broad concept to define because there are many elements involve in it. These elements influence by including political, social and power system in the country. Empowerment covers many issues and when there is discussion on empowerment it includes many elements. These elements are, self-strength, control, self-power, self reliance, own choice, life of dignity, fighting for rights, independence, decision making, being free, capability , access to basic human needs etc.(PREM,WB, 2002). Misra (p.3) describes empowerment as a power to the people and self governance. He define that Empowerment builds self-reliance and strength in women, preparing them towards gathering the ability to determine the choice of life. This adds to the command over resources outwit insubordination and signify their social role. Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with little or no power gain the power and ability to make choices that affect their lives. Due to different social, political, economical conditions, we can not define a one definition for empowerment. According to Batliwala (Makombe, 2006, p.52), empowerment mean, take control over material assets, intellectual resources, and ideology. The material assets over which control can exercised may be physical, human, or financial, as land water, forests, people’s bodies and labor, money and access to money. Intellectual resources include ideas and knowledge information. Control over ideology signifies the ability to generate, propagate, sustain, and institutionalize specific sets beliefs, values, attitudes, and behavior-virtually determining how people perceive and function within a given socio-economic and political environment. Empowerment is the expansion of assets and capabilities of poor people to participate in negotiate with, influence, control, and hold accountable institutions that affect their lives. (PREM, WB 2002, p.11) define that A strategy for empowerment is taken at individual, government, civil society and private sector level. Usually these efforts lead to empower people in context of sharing of power, freedom of information, access to resources and health and education services. These strategies normally share four types of elements: First, Access to information, its mean every citizens including poor have direct access to information because information is power. Second, Inclusion/participation, that’s mean there should be opportunities for poor that they can participate in decision making and they should be included in all financial and political policies. Third is accountability, that’s mean officials, public servants, private actors should be accountable not only to some specific institutions but to their citizens for performance. Fourth and last one Local organizational capacity, its mean that people can work together, organize themselves, mobilize and utilize resources and solve problem at community level (PREM, WB (2002). 2.6 Entrepreneurship It is one of the most widely used terms in business, management, economics and other related fields. One of important thing is that entrepreneurship has different meaning for different people, some use it in the meaning of innovation, some use for creativity, risk taking, leadership, and profit maximization or in social context, and some consider it as start up of business, new production methods and many other different meanings. Davidsson, (2004) describes it that entrepreneurship is rich phenomenon which makes it a resourceful field. While defining entrepreneurship, I consider some school of thoughts that have major role to define this field. According to Schumpeter school of thought (Swedburg, 2000), Entrepreneurship is about innovation in organizational process, thinking up new combination, entrepreneurial behavior and motivation of entrepreneurs. While according to Gartner (Thornton, 1999), entrepreneurship is about creation of new organization or new startup, creating values and entrepreneur mean owner-manager. In Krizner’s view, entrepreneurship is searching opportunities and exploiting them so it reflects towards the alertness capability of entrepreneur towards profit opportu