The weakest link...Just finished watching Survivor - Cook Islands
and saw Sekou got voted out!
He apparently was the weakest link...
Why? Probably because he stood out to lead?
Is that the real reason?
Do we always boot out those whom stand out?
Yes and no...!
When it's at the group forming stage,
if you're not too careful and become too outstanding,
That's the outcome you'll get - the boot!
Perhaps everyone didn't have time to get to know
everyone else as yet...
Whatever it is, Sekou paid the price!
It's all about group dynamics...
Complicated by various individuals' self concerns to survive...
If we feel threatened by another, we activate the fight or flight
syndrome... we wish the "outcast" out of the game...
So how do we manage so that we remain???
hmmm...
Guess there must be a strategy developed, and strong links established
But in the end, its a game of wit and just anybody can and will betray the next.
Its a tough dog eat dog world, but one's gotta do what one needs to survive.
Afterall, that's in the name of the game!
Blue skies, always!
3 comments:
Hi, it will be interesting to study what Mr Yunus and the Grameen Foundation is doing right to achieve the formidable 90% loan repayment rate.
Perhaps Blangadesh provides good soil for microcredit system to flourish. The poor who are struggling for survival have more to lose than gain by defaulting. Besides, most villagers grow up close-knit having lived at one location all their lives, hence increasing the effect of peer pressure of mutual accountability.
Currently, i think Singapore has 2 systems: High loan interest + collateral = Bank Loan. Exhorbitant loan interest + no collateral = Loan Shark. In the backdrop of increasing deferment of HDB bank loans and world class airport, i can imagine a group of cons booking the next flight out of Singapore on obtaining their loan via microcredit (low interest rate, no collateral) ? The low interest rate of microcredit concept will definetely be welcome among our entrepreneurs, however some form collateral control is good unless your aim is to operate a charity organisation, or you have set aside budget for pig's head.
A set of criteria to define 'poor' would be necessary to prevent rich people who ride on the system, as Singaporeans who drive jaguars are known to await at the erp gantry for the commencement of off-peak hours. Then again, we should anticipate protests from the rich on why they should not qualify for lower interests as well, since they have greater contribution towards national economic growth. To conclude, perhaps, enhanced microcredit in Singapore?
Btw, i was referring to your career achievement in my earlier post.
Hi again, Melissa!
Well, I guess Mr Yunus hit the right note by viewing the biz funding problem by viewing from the poor's perspective, coupled with group and village peer pressure. Further, this loan, by the way, is only in the region of 100 or so dollars. Altho' a small amount in our eyes, it is apparently sufficient for those in the aided region to kick-start a micro-biz. The revenue of which a small percentage is for loan repayment, and the rest is put back into the biz to grow it.
So similarly, these same principles of micro-loans, with each amounting to only about 100~200 dollars as seed money, will be given out to individuals in a group. You may once again view that this is too small an amount, but actually it is sufficient to kick-start a micro-biz such as making curry puffs to sell, or selling daily packs of everyday use stuffs, and such similar biz.
The facilitator for such loans would have to also do due diligence to investigate all applications. Those who can afford to drive a car will definitely not qualify for this micro-loan scheme.
I suppose to make sure that this scheme works, it would have to apply to community groups who already know each other, thus ensuring the peer-pressure factor.
Yup, lotz of homework must be one to look into all poss abuses so as to ensure successful implementation.
Actually, I am aware that there is a group here in our country that is already looking into this... not sure the progress now tho'.
Well, in reply to yr comment about my career achievement, well yes, I am very thankful that I have reached where I am. But, I still consider myself a forever-student with so much more yet to learn and experience in life...
Blue skies, as always!
Hi, great to find people interested in microcredit in singapore. I like the concept of microcredit. Don't believe in donations. Empowerment is the key to get people out of the poverty cycle.
But there's something about the economics that I couldn't figure out. Banks lend to make a profit on interest. If loan defaults, they call on the collatorals to recover loss. In microcredit, the default rate is high, interest rate is low. So what does the bank earns? What is the motivation (commercially) for them to lend out to micro-borrowers?
So far, it seems to me that the funds to support the loss comes from either government or foudations, which basically falls back to donations. Isn't microcredit model be one that is self supportive and commerically viable?
Would anyone able to enlighten me?
Kaycee, you mention that you know of a group looking into bringing the microcredit concept into s'pore. Can you let me know the name of this group? Would really be keen to find out more...
thanks!
Sok
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