Muhammad Yunus, The Grameen bank founder, was highly successful in applying social incentives through group responsibility to maximize loan repayment rates and created an incentive for other banks to offer similar loans to the poor.
Since Professor Muhammad Yunus founded Grameen Bank in 1976, several economists have analyzed the Grameen Bank's success in trying to eradicate poverty in Bangladesh, either theoretically or empirically. He used social incentives through group responsibility to maximize loan repayment rates and created an incentive for other banks to offer similar loans to the poor.
Social incentives refer to a wide variety of interpersonal motivations and rewards that encourage people to act in a socially valued and approved manner. Projecting a positive reputation and social image, obtaining social acceptance, and moving up the social hierarchy are all examples of social incentives.
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Answer:
Following are the reason to promote or to improving the E-commerce practices is given below .
Explanation:
- Upselling the product it is the process of convincing the client to buy the product that are identical to which they're staring at, however it has possibility that product may be higher price.
- Enhancing the feature live chat that allows the clients to give the advice as well as convey the issues such as strategic objective, exchange rates and enhancing the shopping experience.
- Adding the phone number in the website it makes solve the problem of the customer in the easy manner .
- Offering the free delivery it will improve the E-commerce facilities as well as send gifts to the purchaser it will enhance the E-commerce.
