Assignment 13A

Assignment 13A

Twenty-Seven Dollars and a Dream: How Muhammad Yunus Changed the World and What It Cost Him, Katharine Esty

1)

·       What surprised you the most?

I was shocked when Muhammad Yunus was ousted from the very bank that he created. Grameen Bank, the social conscience-driven microlender that turned banking on its head by lending small sums to the poorest women of Bangladesh lost Yunus as its leader for issues of “Noncompliance”. I have a hard time believing that such an incredible entrepreneur and innovator did not see this possibility arising. He did not have any succession plan, so when he left, his vision left with him.

·       What about the entrepreneur did you most admire?

I admire Yunus’s patterns for action. He developed a roadmap for “change-Makers”, seven lessons for those who seek to truly make a difference through their work. They include topics like vision, communication, dream-fueled team, flexibility, innovation, values, and brand development.

·       What about the entrepreneur did you least admire?

I can appreciate the sacrifice, but Yunus put his work before his family. His first marriage failed because of his dedication to his work and he missed years of his daughter’s young life. For a man that demonstrates such warmth and generosity, he holds people at a distance, he surprisingly has no one close to him. I wonder if this type of isolation was a necessity in order to fulfill his life’s calling. It seems a hard, maybe unhealthy model to follow.

·       Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

To say that Yunus encountered adversity is an understatement. As a result of his early struggles with his Mother’s mental illness, he was called to step into a parental role to man siblings. Though well-educated and worldly and acting from the head of a university economics department, Yunus’s attempts to aid rural farmers resulted in limited success and sometimes deception. His unique ability to see opportunities where traditional business minds did not allowed Yunus to deliver a model of microlending that started a revolution. That vision along with his relentless work ethic eventually earned him a Nobel Peace Prize. It was said that Yunus had the ability to tune out his failures and losses.

2) What competencies did you notice that the entrepreneur exhibited? 

Yunus possesses charisma, energy, brilliance, optimism and creativity, and innovation. His travel and education positioned him to use his action-based principals to relentlessly work toward social reform through microfinance.

3) Identify at least one part of the reading that was confusing to you.

I was confused about how this man could face accusations of fraud and wrongdoing from the banking industry in a country rife with corruption and kickbacks.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

Why were you so attached to the Grameen Bank Model of microcredit, even at the exclusion of the iterations that followed that model but would make funds available to far more people?

Why did you not enlist more young tech-savvy individuals in your model, instead of relying on old pals to manage your bank?

I would ask because it seems he could have developed a framework for his legacy from within while he was still in the position of Director. 

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

As mentioned earlier, Yunus leaned so hard into his vision of delivering credit to the least served that his personal life suffered as a result. I absolutely agree with his resolute work ethic, yet personally, I would strive for some balance.