The Role of Management in Microfinancial Institutions and Impact at Costumers

Session

Management, Business and Economics

Description

The management of Micro Finance Institutions (MFIs) in the contemporary economy is very important and therefore special attention is paid, as the results of MFIs depend on the way they are managed and the performance they have. All MFIs need to be managed, so the management role in the IMF is of particular importance, so the managers merge and coordinate rare resources, accept risk, and make decisions in a dynamic environment that combines a whole host of factors. Managers are innovative and use new forms of management to perfect strategies in the fight against competition. It is essential that MFI managers in these circumstances create more opportunities than threats, therefore they have more power than weaknesses, and all this can be achieved with sound, effective and efficient management. To succeed in the conditions of today's economy MFIs in Kosovo must have qualified management staff, pay attention to staff training, motivate staff to be more effective in achieving objectives, empower the staff (in making decisions and building loan delivery targets) and paying special attention to communication and building long-term relationships with clients by providing advice on credit investment in their businesses and offering opportunities for starting start-up businesses by creating self-employment in remote rural areas.

Keywords:

Proper Management, Micro-Financial Institutions, Communication, Staff Training, Motivation, Building Long-Term Relationships with Clients

Session Chair

Edmond Hajrizi

Session Co-Chair

Armend Muja

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-69-1

Location

Pristina, Kosovo

Start Date

27-10-2018 1:30 PM

End Date

27-10-2018 3:00 PM

DOI

10.33107/ubt-ic.2018.325

This document is currently not available here.

Share

COinS
 
Oct 27th, 1:30 PM Oct 27th, 3:00 PM

The Role of Management in Microfinancial Institutions and Impact at Costumers

Pristina, Kosovo

The management of Micro Finance Institutions (MFIs) in the contemporary economy is very important and therefore special attention is paid, as the results of MFIs depend on the way they are managed and the performance they have. All MFIs need to be managed, so the management role in the IMF is of particular importance, so the managers merge and coordinate rare resources, accept risk, and make decisions in a dynamic environment that combines a whole host of factors. Managers are innovative and use new forms of management to perfect strategies in the fight against competition. It is essential that MFI managers in these circumstances create more opportunities than threats, therefore they have more power than weaknesses, and all this can be achieved with sound, effective and efficient management. To succeed in the conditions of today's economy MFIs in Kosovo must have qualified management staff, pay attention to staff training, motivate staff to be more effective in achieving objectives, empower the staff (in making decisions and building loan delivery targets) and paying special attention to communication and building long-term relationships with clients by providing advice on credit investment in their businesses and offering opportunities for starting start-up businesses by creating self-employment in remote rural areas.