Hey Turkey, show me your double-bottom line
If there’s one holiday that I have definitely missed by being in India, it was Thanksgiving. While I did go out with a group of people for a “Non-Veg” dinner, there was definitely something lacking, and not just the supply of fresh air. I realized it was the combination of food, weather, football, and family which I truly value: the crisp, fall Maryland (and other mid-Atlantic states) weather, the autumn colors of orange, red, yellow and brown coalescing, spending 3 days with the extended family, making a fire with some old-fashioned backyard woodpile, my grandmother’s massive and savory turkey, an assortment of freshly made pies, John Madden barely able to control himself when giving his commentary on Brett Favre, and of course the sloshing sound of a tasty piece of Virginia ham slapping my cousin Alex in the face. Well the ham-slapping incident only happened last year but it was something to reminisce about. I can safely say that next year, regardless my circumstances, I’m coming home for Thanksgiving. In the meantime, big shout out to the family and friends who I spoke to over that weekend.
Luckily it’s been a whirlwind at work and with life in general (namely, essay writing) here so I haven’t had much downtime since my trip to Goa. My microfinance institution (MFI), Satin, has been nominated as a finalist for an Emerging MFI Award with five other Indian MFIs and we’ve been actively preparing for our finalist presentation today (results tomorrow). It’s been truly rewarding to collaborate with the CEO, CFO, Head of Operations, and Head of Audit on this presentation; a slightly different team than I was used to at a 25,000 strong company. In addition, I’ve been taking a critical look at the company’s 3-5 year business plan and determining what potential changes we need to make based on the current operation and growth targets. Though I spent countless frustrating hours learning the intricacies of MS Excel at LIM (my previous company) in Chicago, those Excel skills are incredibly value to the business plan analysis and potential improvements I can make here.
The other major development at work is the newfound focus on Social Performance. At the heart of microfinance is not just the loan product we are providing, but whether we are actually having an impact on our borrower’s lives. The industry is facing considerable pressure to focus on social performance in addition to financial performance from the likes of thinktanks, industry associations, and policy/planning bodies as well as Banks, PE Funds and Development institutions. It’s the so-called “double-bottom line” approach. In this regard, Satin has decided to hire a consulting firm to conduct a Social Performance Assessment (SPA) whereby we can can start tracking important demographic information as well as the quality of processes to determine a basic awareness of the impact we are having. The overarching goal and theory is that social performance should have a positive impact on financial performance. For instance, if a company is able to meet the borrower’s various needs including healthcare, education, and housing in additional to financial needs, it’s more likely to succeed with customer retention and expansion. Obviously there is a level of pragmatism required, and you can’t sacrifice profitability because the Microfinance Institutions will never reach the type of scale that is necessary to alleviate poverty. However if you’re having a negative impact on the customers you are serving, it’s time to re-evaluate whether your form of microfinance is really an effective poverty-alleviation tool. It is definitely an exciting time to be taking part in this rapidly evolving industry which is simultaneously re-thinking what the industry is trying to accomplish, developing regulatory bodies, and ultimately trying to have a significant impact on the larger population.
What else has been going on in the past month or so in Delhi? A few highlights in chronological order: Oktoberfest at the German Embassy (a notable failure in event planning and functioning), dinner at a Korean restaurant (very different from my prior Korean BBQ experience), expat Halloween Party with a girl dressed as a cardboard Autorickshaw, and a Bollywood movie with Katrina Kaif who is smokin http://www.mykatrinakaif.com/wp-content/uploads/2009/06/katrina-kaif-wallpaper6.jpg. Oh yeah, and I joined a gym called Fitness First which has been a welcome addition to my daily routine. Long gone are the shirtless runs along the Chicago lakefront (I know, terrible), and as much as I despise treadmills, it beats choking on Delhi pollution.
In other news. 16 days until the US return trip (Dec 23-Jan.6) which I am absolutely pumped for. The schedule is 2 days in Maryland, 3 days in New Orleans for Steven’s wedding, 6 days at home and lakehouse with the family, and then 5 days in Chi-town hanging out with the old crew. Looking forward to seeing everyone from E and Bleich in NOLA to the fam to the old LIM and WashU crowd in Chicago.
My final announcement is a new addition to my blog post. I will now be featuring an 80′s music video section. Let’s start with a sketchy Hall and Oates classic: “Private Eyes are watchinggggggg you”
Hollaaaaaaaaaaaaaaaaaaa
another great update… thanks for not forgetting about all of us back in the states. when are we gonna see some photos from the halloween party — and what was your costume, may i ask?
Seth-really enjoyed your update and we are counting the days until we see you! You can’t believe the number of new years eve invitations we have turned down because I automatically announce: “We can’t join you because Seth is coming home” -whose Seth they say ?-why my incredible nephew doing important work in India, I exclaim”. Thanksgiving was not the same without you and there was an attempt to reenact the ham slapping but Josh could not dare to do it. Prepare yourself for cold weather, it has recently gotten very cold but we anxiously count the days to see you. Love aunt beth