The Effect of Market Trends and Customer Relationship Management for Performance in Microfinance Institutions of Developing Countries

Abstract

This study examined performance management in the context of microfinance institutions in
low-income countries. First, it did a deep dive into the implications of performance
management systems in low-income settings. Second, a review of the theoretical and
conceptual frameworks of management systems for numerous types of performance was
undertaken to better understand the various performance management systems for
microfinance institutions in developing countries. Third, we examine how financial
institutions in a few nations manage their institutions' performance and how the direction of
trends affects the expansion of those institutions. Finally, the study highlights the conclusions
and gaps in the research that were revealed. The first section of this article focuses on the
significance of context, which is the interaction between the extrinsic aspects (such as
customer relationship management and market trend orientations) with which microfinance
institutions work. We have examined both the internal and external elements that determine
the success of a microfinance institution (MFI).
Funding statement: The researcher supported this study and conducted for UMP University.
Ethical Compliance: All procedures performed in this study involving human participants
were in accordance with the ethical standards of the institutional and/or national research
committee and with the 1964 Helsinki Declaration and its later amendments or comparable
ethical standards.