Accounting and Program Audit Team
Log # 10
By Dana Yang
As the semester comes to an end, with the rehearsal
presentations tonight, I am starting to miss it already. Every
Tuesday night, three hours, with the same people for three months,
is actually a lot and has had a big impact in my St. John’s life. I
never thought this class would have such a big impact on me only
because, I thought I was just coming in to be an extra helping hand
to Dr. Sama to enhance the program. GLOBE has changed my
perspective in poverty in developing countries and it has helped me
open my eyes to what college students are capable of. I am very
proud of my Accounting team and the other teams. We all had to work
hard in order for it to be such a successful semester.
After the rehearsal presentations tonight, I can tell that all the
hard work paid off, because we all saw the smile in Dr. Sama’s
face. We always looked to her to make sure whatever we are doing is
fine and seeing that smile, reassured us that we had an amazing
semester. It was fun and entertaining to watch the other teams
present their achievements throughout the semester and it was great
to see everyone pitching in to help others improve upon their
presentations.
Next Tuesday is the day for us to shine. Even for today’s rehearsal
presentation, my heart was already about to jump out of my chest. I
can just imagine how we will feel next week. I’m sure we will all
have enough confidence and support for each other to make sure Dr.
Sama is proud. We want to make sure that we make the audience more
supportive of GLOBE than they already are. I know I will be proud
to call myself a former GLOBE student in the future and I can see
how GLOBE will flourish in the future. Let’s go GLOBE!
Finance and Risk Assessment Team
Log # 10
By Gurjeet Kaur
10 weeks! It might sound cliché but these ten weeks with GLOBE
have given me a new perspective on life. This has happened because
this program is much different from the ones I have previously been
in. It gives students a way to learn about international
microfinance from sitting in a classroom. From the interview to the
final presentation, GLOBE (Global Loan Opportunities for Budding
Entrepreneurs) has resulted in stronger characters for the
students. It is a student-managed class, meaning every member has a
part in the process. Every semester the program is improved to have
a greater outlook for the upcoming semester.
The Finance and Risk Assessment Team had goals to accomplish from
the beginning of the semester. These included: addressing the
collateral problem, risk assessment of a new location, measure and
evaluate interest rates, give out a loan in a new country, and an
analysis of previous loans. The collateral problem relates to the
interest comes along with the loans; the four loans we have
received back are all repaid but without interest. This poses a
concern for GLOBE because our main concern is sustainability. The
five percent received back from the loans would be used to offset
any costs related to giving out the loans as well as approving new
loans. The risk assessment of Madagascar has proven it to be a
desirable location for micro financing. A lot of MFI’s have already
established themselves in that area and GLOBE would like to enter
Madagascar in the near future. The team to create new interest
rates that comply with the repayment period for a loan evaluated
the current 5% interest rate. For example, a loan given out for 12
months will pay a 3% interest, 18-month will pay 4.5%, and 24-month
will pay 6%. This makes it easier for the entrepreneurs to repay
the principal with the interest. In this last week, we are in the
process of approving a group loan in Vietnam! This is very exciting
because this is the first group loan GLOBE will give out and seems
to be very promising. As stated before, we have received 4 loans
back and the others are in the process. I can proudly say that we
have attained these goals throughout the course of these ten
weeks!
Although this is a slow process, we definitely see improvement.
Giving a better understanding of the world of Microfinance, this
program has helped the students help themselves. The students, also
known as GLOBE managers, are the backbone of the program thus
creating new learning opportunities for themselves. I am a proud
member of GLOBE at St. John’s University; this has been an exciting
ten weeks of my college years!
Marketing and Fundraising Team
Log # 10
By Kemi Bamishe
As I sit here and spill out my thoughts for this log, I can’t
believe this will be last one. I can’t believe how fast this
semester flew by. I wish this were a year-long program, because I
feel like there’s so much more that GLOBE can accomplish. I hope
that next semester’s class will pick up where we left off and
continue to make accomplishments for GLOBE; for our
borrowers.
At the start of the semester, the Marketing & Fundraising Team
had so many exciting ideas. We look back on that and realize that
those ideas were unrealistic at the time. It took a while for us to
find some direction, and here we are at the end of the semester,
and I must say that I am proud of where we stand today. GLOBE
managed to have two bake sales, a main event, awareness tables at
several on and off-campus events, and this Thursday, we will be
launching a phone campaign. I am really excited about starting the
phone campaign. If we don’t receive any donations as a result of
it, at the very least, we hope to raise awareness.
Raising awareness for GLOBE is one of the most fulfilling
opportunities that I’ve had throughout my entire college career at
St. John’s University. GLOBE is like no other academic program that
I have experienced. It is hands-on and most importantly, has an
actual effect in the marketplace somewhere in Kenya, Nigeria and
the Democratic Republic of Congo. It feels great knowing that
interacting with students; faculty; administrators; and business
professionals to tell GLOBE’s story, has helped one of our
borrowers feed their children, when otherwise, they would not be
able to. That truly touches my heart and I am glad that I had the
opportunity to be a part of GLOBE’s movement.
Technology and Communications Team
Log # 10
By Shana Barnes
I can’t believe this semester is already over. I feel like I
have accomplished so much in a short amount of time. GLOBE was such
a great experience that I wish was longer than just one semester.
There was always an idea that came to mind throughout the semester
that I wish I could have done after learning about a specific
topic. With such a limited amount of time it was hard to divert
from the objectives that my team and I devised the first week of
class.
GLOBE is special for three different reasons: Vincentian
Fulfillment, Individuality, and Uniqueness.
Vincentian Fulfillment: GLOBE is a special
hands-on class that helps people help themselves out of poverty.
What better way to carry out the Vincentian mission at St. John’s
than through a class? It is a great learning experience and a way
to give back to those who need it most.
Individuality: It is amazing what young adults like us GLOBE
managers can do if professors provide us with the proper guidance
and information and leave the rest up to us. Since we make up our
own agenda and objectives we can be as creative and open-minded as
we want which allows everyone in a group to put their own
spin/twist on the subject.
Uniqueness: Not many can say that they were
a part of an honorable program such as this one. Most schools, if
any, do not have a student run class, yet alone about microloans.
Only a selected few can take part in this unique adventure. It is
all about motivation, the urge, and the want to change the world
one loan at a time.
I am honored to say that I was part of GLOBE. This has been one of
my best and favorite experiences at St. John’s. I had the chance to
work with a great team that was able to accomplish all that was
planned while still having fun. As for the books we had to read, it
was a great selection because it always grabbed my interest. The
fact that it wasn’t a text book made me read even more than I had
to. I have acquired a lot of knowledge on the subjects of
microfinance and social entrepreneurship. We worked well
individually, but most of all, as a class. We were able to increase
GLOBE awareness in the St. John’s community.
Lastly, I would like to thank Dr.Sama for the guidance to complete
another successful semester. Her encouraging lectures and guest
speakers have always moved me in some way. Her passion for the
class was an encouragement to be the best we can be. Without her
this program would not be what it is today. I am able to take away
many things from this class that I can apply in everyday life. I
have grown a lot as a person. It allowed me to step outside my
comfort zone, be a leader, and taught me how important teamwork
really is. GLOBE not only makes a difference, but also is the
difference.
Final Reflective Log
Technology and Communications Team
Final Log
By Ruth Santana
The Final Discovery
I believe that this experience has been the most unique and
powerful endeavor that I have embarked during my journey as an
undergraduate at St. John’s University. This log I would like to
dedicate to my team, to the University and to Dr. Sama.
First my team, because with their innovation, hard work and
outstanding work ethic; I can say that I was a part of a strong
united group that achieved its goals through dedication. They no
only motivated me to be a better leader, but they taught many
things that have helped me to increase my skills and to understand
what a team should look like. Through these weeks I have noted
tremendous growth in what we can do and with what little resources
we can accomplish great things. Thank you IT for the support, for
your belief in me as your liaison and showing our true
impressions.
The second dedication is to St. John’s University for being the
platform that was needed to make a program like this possible; and
because of the trust they had in their faculty to bring this type
of experience and opportunity that is unique to our St. John’s
community and to their students. Because of the mission of our
University, and the hunger of students that attend this University
have towards service and academics; GLOBE encompasses the passion
of many, but more importantly my passion for giving back and having
a chance to make a change through entrepreneurship.
And last but not least, I would like to thank Dr. Sama for her
endless dedication, time and motivation that she brings to every
class, in every email and especially in every smile. She is the
light that guides GLOBE year after year, semester after semester
through the struggles and successes of running the business that is
GLOBE and teaches us her expertise in microfinance,
entrepreneurship, social business and professional development.
Without her this program would have never been implemented and she
is a blessing to this class, to this University and to wherever she
dedicates her time to.
****
I cannot believe how this semester flew by and how I can still
remember the nervousness of expecting the GLOBE acceptance email
and how the past GLOBE class presented to us their recommendations
in the spring. But along the way I have discovered many important
thoughts that I will for always keep with me, and I leave all of
these here in this last log and with my final discovery:
Discovery #1: I can change the world
Discovery #2: I should always think of the bigger
picture
Discovery #3: GLOBE means business to the people
that need it the most
Discovery #4: Time management is key for
success
Discovery #5: “This little light of mine, I’m
gonna let it shine”
Discovery #6: GLOBE means teamwork!
Discovery #7: Learning how to lead, by letting
others lead
Discovery #8: I need to motivate not only myself,
but also those around me
Discovery #9: Leading the way for the future of
GLOBE
Discovery #10: The end… is never the end with
GLOBE!
Accounting and Program Audit Team
Final Log
By John Kenny
As students in the Tobin School of Business, the curriculum
necessarily taught us the importance of cost-benefit analysis. In
doing so, we now know how to project whether or not an endeavor or
business decision will lead to a positive outcome for our company,
organization, etc.
For example, take GLOBE, one of the premier classes offered in the
Tobin School of Business. Why not use a cost-benefit analysis to
review the experience we had throughout the semester?
Benefits
From an educational perspective, GLOBE offered a wealth of
knowledge in the exciting and ever-growing field of microfinance.
We learned about the problems that make credit so inaccessible for
so many people throughout the world, such as the lack of
collateral. We learned about social businesses and how they can
play a practical role in modern society, and we learned about the
rapid growth of poverty mapping in bringing positive change to
impoverished lands.
From a team-building perspective, never have I encountered a course
which required more team work. It truly created a family atmosphere
between each of the teams who needed to meet up often to prepare
presentations and perform the practicum portion of the task
requirements.
From an experiential perspective, GLOBE distinguishes itself from
traditional classroom settings. With sessions at the Microfinance
Club of New York events, the Sisters of Notre Dame, and the
“Entrepreneurship in a Global World” event, nothing could top
these, right? Except maybe meeting the man, the myth, the legend
himself, Muhammad Yunus! Furthermore, the act of managing real
money and real loans proved to be an even greater hands-on
experience than first expected.
Costs
The only downfall of GLOBE for the semester was the sugar coma I
nearly went into due to the delicious baked goods and sweets
offered at our bake sales and events. If, somewhere in the future,
it is discovered that I have Type 2 diabetes, I will look back and
realize I should I have eaten one less cupcake.
In all seriousness, the GLOBE program contributed to my growth not
only as a student but as a human being outside the classroom as
well. It expanded my awareness of the world around me. It magnified
my perception of the problems of poverty throughout the world,
especially the vast amounts of extreme poverty. Most importantly
though, it offered effective solutions, through the products and
services offered by microfinance, to alleviate or “ease the tension
on poverty.” No one claims that microfinance is a panacea for
poverty alleviation, but its benefits cannot be undervalued.
Helping other people help themselves-that is the microfinance way.
Unleashing the human potential innate in everyone, which currently
suffocates due to a lack of opportunity, and giving people a chance
to succeed-that is the GLOBE way.
Finance and Risk Assessment Team
Final Log
By Raias Anthony Khan
This semester has been a fast-paced race all leading to one
moment. This is the moment that our university and community get a
glimpse of the impact that we are making through GLOBE. Behind the
scenes in the doors of DAC room 309 our class as a unit worked
tirelessly, motivated by the smiles and the positive impact we know
we will make when our “budding entrepreneurs” put their funds to
great use. It was Langston Hughes that said, “Hold fast to dreams
for if dreams die, life is a broken-winged bird that cannot fly."
GLOBE gives our borrowers the chance to fly.
Our enthusiasm and motivation are products of being pupils of a
highly motivated determined leader, Dr. Sama. She has led us
through the true meaning and mission of GLOBE and her call to
social entrepreneurship. It has been a pleasure working with her
and the team on projects and seeing her vision and expectations of
the organization and St. John’s University.
I am excited that we finally have considered and are in the process
of reviewing group loan. It is something I have wanted personally
to see done this semester. That is why we pushed for the write-ups
of the loans to be sent to the steering committee this semester.
Throughout the past week the team has also finalized the final
presentation for the event this Tuesday.
It has been bittersweet looking back at the semester, the
contributions we have made and the great times we have spent as a
class for GLOBE’s incredible initiatives. However, as the semester
ends we will realize that this is just the beginning and not the
end of our relationship with GLOBE. I know I will continue to
contribute to GLOBE in the years to come. This is because I now
know the real meaning of GLOBE’s initiatives. I got to know and
understand its founder, its followers, its networks and almost all
the entrepreneurs and their stories.
I am therefore thankful that I have had the opportunity to work
with a group of such talented and inspired colleagues along the
way. It felt good knowing the effort of everyone involved and that
they were in it for the success of GLOBE. It felt great throughout
the semester telling everyone I knew about GLOBE and the mission
and vision of the organization. Now having played a critical role
in its development as a team this semester, I will not stop
there.