Enterprise Development, Program Impact Audits and
Budgeting Team
Log #1
By: Mina Salib
When I first joined GLOBE I was unsure about what was required of
me, but I was sure that it was something that I wanted to be a part
of. What I did know is that GLOBE is a microfinance lending
organization that works to help people actively get out of poverty
and I knew I had to get involved.
In the summer of 2010 I served in Upper Egypt, which is home to
some of the poorest people in the world. This experience allowed me
to see first-hand how devastating poverty can be. After this trip I
made myself a promise -- that I would do everything in my power to
help those who are less fortunate than me. Then I heard about GLOBE
and realized that is exactly what this organization has done and
continues to do. It has only been a few weeks into the semester and
I can already tell how impactful and life-changing this course will
be. The amount I have learned about microfinance and the impact it
has had in peoples’ lives is priceless, and the very fact that I
have a direct hand in helping someone possibly raise themselves out
of poverty is so rewarding.
This semester I have the honor of being the liaison for the
Enterprise Development Team, which means I am in constant contact
with my team and other teams to make sure everything is running
smoothly. I also have the responsibility of making sure my team
stays on task and meets all its deadlines, which I have found is
not a problem because in GLOBE you work with such talented and
responsible people. As the Enterprise Development and Budgeting
Team it is our responsibility to keep track of our budgets and
revenue while also developing new ways to expand GLOBE’s reach
across the world. With this in mind, the semester started and we
began to compile a list of the goals we wanted to reach by the end
of the semester.
One of our major goals was figuring out how we should measure
success as an organization. When we give out loans to entrepreneurs
we want to evaluate if they were successful in the way they used
the money we loaned them. Another major goal was to make business
plans for potential entrepreneurs in some of the countries that we
will be expanding into in the next year. We would like to give
these entrepreneurs guidelines to make sure they are successful in
their business ventures. These objectives are in addition to
properly budgeting for GLOBE as a whole and translating our loan
applications into Spanish, French, and Arabic.
As you can see even though the semester just began we are very busy
at GLOBE and all this work is done because we love it. We love the
impact and effect that this program has on people that are so
worthy of it. Most people are not in poverty because they want to
be, but it is because nobody has given them a chance to get out;
GLOBE is that organization that gives them that chance and I am
honored to be a part of it.
Finance and Risk Assessment Team
Log # 1
By: Felipe Juan
When I decided to become an economics major in high school, it was
all rather random. My reasoning to leave engineering or medical
school behind as options was because I saw that if I could possibly
understand the way people exchange goods and services, maybe I
could be influential. Maybe I could contribute to a cause that
would help those in the most difficult of times, who aren’t able to
live sustainably. My father thought it was absurd for me to do such
and I told him that “I’d much rather serve as a doctor of society”.
I have always believed that if you really believe in something,
after seeing something fail, maybe after the 50th, the 90th, or the
150th time, your result can be different (of course with the
smallest of adjustments each time). So I went against the tide and
decided to break the criteria my parents had set for my college of
choice and went far.
I remember the first time I was in St. John’s, which was also my
first day in NY! I couldn’t help but to be adventurous and to take
a leap of faith. Once I was settled and convocation passed, I
stumbled across all the programs Tobin (among the other schools)
had and what really peaked my interest was GLOBE. I had a little
knowledge about microfinance due to a person I spoke with (whom I
later worked with for an event) -- someone from ACCION
International. ACCION is quite a well-known Microfinance
Institution that originated in Venezuela and started among small
shanty communities. As I remembered this, I picked up an
information form from the desk, as I was too shy at the time to
really engage and ask questions. Curiosity just led me to a
path of social development through the experience with non-profit
organizations and being altruistic as I matured. As time went
along, I knew that opportunity would arise and sure enough, I would
have my chance to really encompass what I have learned in work
experience, class, and through compassion.
Being a part of GLOBE now has finally put me in a position where I
could possibly see the different outcome after so many tries. I
sometimes forget this is a class and just dive into the culture of
places, just to try to have an understanding of what could possibly
be done in a region or country. And I’m not a stranger to poverty,
at least from the perspective of the U.S. As a child of
immigrants, I’ve experienced the homelessness and the declines of
loan applications because you’re too much of a risk to invest in.
But we’ve never let that put us completely down. Persistence has
been the key to the greatest of successes. And even though the
success might seem small in one person’s eyes, it could be the
success of a lifetime to another.
Marketing and Fundraising Team
Log # 1
By: Joanna Michalski
Prior to GLOBE, my knowledge of microfinance was very minimal and
consisted of articles and books that I had read in the past or
briefly-covered material in my macro and microeconomics courses.
Three weeks in and I feel like I have already absorbed a lot of
valuable information; this leaves me excited to see where the rest
of the semester is headed. Reading the textbooks and listening to
lectures in class has been a very enlightening experience so
far.
I have already been so inspired that the thought of becoming a
social entrepreneur is something that I have started to take
seriously. Reading about Muhammad Yunus and his many endeavors to
improve the lives of many living in poverty in his home country of
Bangladesh is not only enlightening, but motivational as well. His
actions reveal that although one person cannot change the world,
they definitely can make a big difference in the lives of many.
Microfinance allows the money borrowed to be continually recycled
so that even more individuals can receive help as time
progresses.
Bornstein’s How to change the World: Social Entrepreneurs and the
Power of New Ideas also had a strong impact on me, especially the
stories of social entrepreneurs in Poland. I have a special
interest to those stories because of my own personal connection to
the country; both of my parents immigrated from Poland and all of
my immediate family still lives there. Having visited my relatives
over the years, I have a strong love for the country where my roots
are from but as I have grown older, I have also come to see and
understand the poverty that still exists in Poland, especially in
the countryside where my mom’s family lives. Reading about how
social entrepreneurs have made impactful improvements in the lives
of many Polish people really hit a soft spot inside of me. Because
of my relationship to Poland, hearing about how “my” people are
being helped was very touching and further inspired me to find a
way to give back.
Life is so much bigger than what we are, or ever will be, and being
reminded of this makes us more humble and allows us to be more
generous of what we can and are capable of doing for others. The
fact that majority of the world’s population lives on less than
$2.00 a day is such an upsetting statistic that I cannot help but
be moved to action to find a way to help alleviate this. I’m hoping
as the semester continues, that I will continue to grow in my
knowledge of microfinance and upon completion of the GLOBE course,
be better equipped to address the poverty issue at hand.
Technology and Communications Team
Log # 1
By: Arianna Vargas
GLOBE has introduced me to the “real world” of microfinancing. What
I mean by this, is that I now have a much broader understanding of
what microfinance actually is and how it is done. Before joining
this class, I thought microfinance was just lending someone money.
Now I know that it is not a giveaway or a handout that takes away
initiative and responsibility from people. Microfinance encourages
self-help and self-confidence. A loan is given but money is not at
all the only thing expected in return. Something that proves this
is the fact that GLOBE is receiving less than 80-90% of the money
loaned back, but we have not stopped loaning money to the less
fortunate. The improvement of humankind is the objective. The fact
that GLOBE lends money in countries with a high poverty rate shows
the fearlessness, lack of personal interest, and motivation the
members have toward genuinely helping those who want to but cannot
better their situation. If I were to describe GLOBE in one word, it
would be humble. I chose this word because GLOBE could lend
money to anybody, but instead, the program helps those who lack the
most benefits, resources and opportunities.
From the readings, I have learned more about what goes on outside
of the classroom. Muhammad Yunus has been an important part of my
learning experience as well. Through his book, I was introduced to
the Grameen Companies in Bangladesh and now have a better
understanding of microcredit. Grameen has accomplished much thus
far, from the solar power lamps to the use of bio gas plants to
convert common waste products into methane gas that can be used as
a fuel for cooking and electricity. It keeps me motivated to know
that Bangladesh, one of the poorest countries in the world, is
gradually being positively transformed. To put it in simple terms,
there is a sign of hope for Bangladesh, which means that there is
hope for all countries struggling to overcome poverty.
My team and I have very ambitious and clear objectives, which will
be accomplished with great effort. I have faith in my team. Before
this class, I never enjoyed group-work because I always found
myself chasing my group members to hand in their parts on time. In
contrast, my team is so united, enthusiastic, and focused, that my
opinion of group-work has been completely altered. I feel that Dr.
Sama was very wise when she put the teams together. GLOBE Spring
class of 2013 has a bright future.