Grameen Bank

Q2. I dont necessarily believe Dr Yunus to be a master strategist, nor do I believe him to be lucky. In my opinion Dr Yunus believed in a cause and did what he could to alleviate the problem he saw in front line of him. I believe Dr Yunus to be an innovative person who created a strategy to ensure his innovation was a success. The innovation I speak of is microcredit. Dr Yunus never intended to enter into the world of pay but as an economist and a humanitarian he witnessed a gross injustice when visiting a despicable village outside Chittagong in Bangladesh in 1974. Here he met a crafts woman who was effectively been used as a slave. She was being unfairly treated by her supplier turn money lender; she was working for a penny a day. Dr Yunus began to research the issue in the village and quickly raise that a total of 42 heap had debts to these lenders totalling $27. He like a shot decided to pay off this debt and hence came up with the mentation of microcredit and microloans. When he saw the excitement among the villagers he had created by nonrecreational the debt he continued to research this issue in skirt villages. He approached existing banks regarding the loans and had to become the guarantor, to his surprise the loans were repaid in full, on time, every time.

He then built the strategy upon combine and solidarity and only offered loans for income generating use, housing and student loans. He offered loans primarily to women as his research suggested that they would do the most to benefit their families. The women would meet on a regular basis to encourage each other to repay the loans. In 1983 he formed Grameen Bank with the aid of the government, using the strategy sketch above. Dr Yunus saw the opportunities he was creating for these poor people with the Grameen Bank. He enabled these peoples personal initiative and entrepreneurial skills, by rely them to repay their loans and by giving them ownership of the bank. This ownership provided solidarity which in turn... If you want to get a full essay, order it on our website: Ordercustompaper.com

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