Week 15 Reading Reflection

Vikram Akula: Business Basics at the Base of the Pyramid

Harvard Business Review

1. The part that was most surprising to me in this article was the way that SKS Microfinance was able to earn customers. Akula states, "Many companies say they protect the interests of their customers. Very few actually sit in the dirt with them, using stones, flowers, sticks, and chalk powder to figure out if they’ll be able to repay a $20 loan at $1 a month. With this approach, we’ve created our own loyal “gang” of over 2 million customers." Average customers don't see this type of company outreach very often, and I myself as a reader, was very impressed.
2. The confusing thing about this text was the initial topic of it. Microfinance is a subject that I'm not well aware about and the matter of how it can be an answer or solution to povery for people that operate on a very small-scale is still very not understandable for me.
3. I would want to ask the author these two questions:
• What was the initial experience or memory that was the biggest inspiration for microfinance?
• How were you able to get a good team of employees that would stay in touch with your customer-first philosophy?
• I would want to ask the author these questions as his personal stories and anecdotes would provide a lot of insight and personal touches. His perspective on the customer-first philopsophy and his approaches are unique and I would want his responses on them.
4. I do not think the author was wwrong about anything in this text.