Factors influencing new product development in microfinance institutions: a perspective from north Indian microfinance institutions

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JIE 011 0083

RESEARCH METHODOLOGY

The study was qualitative in nature and used cases study method to gather

data for this study. Both primary and secondary tools were used for data col-

lection. Personal interviews, based on open ended guided questions, were

conducted with the senior management and other staff of the organizations

studied. Guiding questions as a precursor to the interviews were also sent to

the respondents so as to make the discussions more focused. Focused group

discussions (FGDs) and process documentation were also used as tools for

data collection. Focused group discussions were conducted to gather data

from other employees/ staff of these organizations. Process documentation

helped in recording observations of the processes leading to new product de-

velopment and their links to the practices being followed by the MFI. Obser-

vations served as a tool to substantiate the data obtained through interviews

and FGDs. The case study method also helped in documenting significant

changes that took place in MFI business portfolios and institutional culture.

Literature review such as annual reports of various years, information

materials, minutes of the meetings, other official records, research studies,

and other relevant documents were also studied extensively as a medium to

corroborate the findings obtained through primary data.

Factors influencing new product development…

n° 11 – Journal of Innovation Economics – 2013/1

There was an essential component of grounded analysis of the factors

leading to these initiatives in order to provide a complete picture for rep-

lication and scalability. For the purpose of analysis, the responses collected

through various methods like interviews and FGDs were compared and sub-

stantiated with observations, process documents and literature review. The

data were tabulated, classified and entered into a matrix according to the

factors mentioned in research framework.

For the purpose of this study, four MFIs from two states of India viz. Uttar

Pradesh and Uttarakhand were purposively selected based on their size and

operations and keeping in view the convenience of the researchers. These

two states were emerging states in terms of microfinance operations at the

time of selection. A brief description about the institutions studied has been

presented in end (Appendix 1 and Graph 1).

Graph 1 – Comparative Picture of the MFIs studied

Note for Graph 1: Data for this section is taken from mix market http://mixmarket.org/. Data for Drishtee is not

available for the above period. Average loan outstanding is in USD ($) while Operational Self Sufficiency (OSS)

is in percentage (%).

Sanjeev KAPOOR and Gaurav SINHA

Journal of Innovation Economics – 2013/1 – n° 11

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