CONTENTS Acknowledgements v Forewordvi Acronyms ix I. Introduction to Microfinance Management 1. The Manager's Mandate 2 2. Financial Services and the Poor 18 3. Institutional Options 27 4. Strategic Direction 50 II. Markets and Marketing Introduction 61 5. Microfinance market Research 63 6. Product Development 79 7. Communicating Value 95 8. Customer Services 116 9. Customer Loyalty 127 III. Managing risks 10. Introduction to Risk management 144 11. Credit Risk 155 12. Staff Fraud and Security Risk 168 13. external Risks 182 IV. Organizational Architecture Introduction 198 14. Human Resource Management 200 15. Institutional Culture 228 16. Organizational Structure 239 17. Using Organizational Architecture to Manage Growth 255 V. Towards Greater efficiency and Productivity 18. Understanding Efficiency and Productivity 277 19. Performance Incentives 286 20. New Technologies 298 21. Managing Change 317 22. Costing and Pricing 337 23. Plans, Budgets and Reports 352 24. managing Performance 377 Bibliography 391 Index 399