Issue link: http://www.e-digitaleditions.com/i/58061
From the Editors Business Enthusiast This past April marked the six-year anniversary of the day I started working for BizEd. Although I had little experience with management education when I took the job as co-editor, I've immersed myself in the field as I've written articles about everything from indi- vidual school programs to broad industry trends. Over the years, I've found myself intrigued by a specific type of story with a num- ber of permutations. Corporate social responsibility. Sustainable development. Bottom-of-the-pyramid strategies. Peace through commerce. While they're each distinct areas, they often overlap, and they tend to attract passionate advocates who believe business has a moral obligation to refrain from harming the world—and, often, an equally strong imperative to improve it. It shouldn't be a surprise, then, that I'm fascinated by the topic of microfinance. While researching "Making a Major Impact with Microfinance," I interviewed professors and program directors about how schools can incorporate microfinance concepts into the curriculum. I asked them how they expect microfinance, with its many models and its wide range of sponsors, to alleviate poverty throughout the world. Just as important, I wanted to know how schools could help students understand that microfinance makes sense from a rational business perspective. I learned even more about the topic as I read Business Solutions Women pool their microloan resources to establish a bas- ketweaving cluster in Madu- rai, Tamil Nadu, India. for the Global Poor, edited by a group of Harvard professors and reviewed in the Bookshelf section of this issue. According to these authors, microfinance presents a different set of challenges—and opportunities—in every country. "Business can play a critical role in connecting … underserved consumers to the economic mainstream, with tremen- dous social value to the poor themselves," the authors write. Economic benefit and social value? I kept thinking, "Sign me up! How do I get involved?" Then I found Kiva.org. Founded in 2004, the organization allows indi- viduals around the world to invest as little as $25 in one of the microentrepreneurs featured on the site. Biographies of the business owners are posted, and many of the entrepreneurs keep journals that allow investors to track their progress. When a loan is repaid, investors can get their money back or choose to re-invest. "Lifelong learning" is one of the most powerful mantras of modern business education. It seems to spill over into people who merely write about business schools. Because of BizEd, I learned about Kiva, and because of Kiva, I learned about Zoia Georgieva and the small tailoring business she runs in Bulgaria. I've just made her a small loan. I expect my micro gesture to have a major impact on her life—and, in some small way, on the world.z ■ z 6 BizEd MAY/JUNE 2007 LUKE JURAN BILL BASCOM