Professor Muhammad Yunus: A Real Social Entrepreneur

International Entrepreneurship
MSc in International Business

International Entrepreneurship

Student ID: B00647612 Submission Due on: 02/12/13 Part-1, Number of Part-2, Number of ords: 1!63 ords: !61

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Table of Content PAGE

PART-1
1. Introduction 1.1.1 1.1.2 1.2 1.3 1.4

02 Biography Education 02 02 03 03 03 04 0# 0& 0( 0) 09

Banker to the Poor Micro Credit Grameen Bank

1.4.1

Other Ventures

1.5

No e! Pri"e
1.5.1

Other $%ard

1.6 1.7

Moti'ation Conc!usion

Part-1: References

PART-2

2. *ntroduction

+3 +4 +# +# 16

2,2 $ rea! socia! entrepreneur 2,2 Criticism 2,3 Conc!usion Part-2: References

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Bibliograp ies

PART-1

1. Intro!"ction

-his report %i!! discuss a out entrepreneurship sty!es and the moti'ation

ehind

entrepreneurships, -his report is di'ided into t%o parts, Part one %i!! pro'ide persona! detai!s o. an entrepreneur and %i!! discuss a out his/her 'entures, Pro.essor 0r, Muhammad 1unus has een choosing as an entrepreneur .or this ecomes report, 2irst part o. report %i!! discuss a out his 'entures and ho% he

success and at the eginning o. the report his iography %i!! e pro'ided, 3econd part o. the report %i!! produce the entrepreneurship sty!e o. Pro.essor 1unus, 4eport %i!! a!so discuss a out %hy he has een chosen as socia! entrepreneur and some theories and e5amp!es %i!! e app!ied, 1#1#1 Biograp $ Pro.essor 0r, Muhammad 1unus6 a Bang!adeshi economist and socia! entrepreneur, 7e orn in +840 in Chittagong6 Bang!adesh and he %as the third chi!d o. his .ather 9Grameen Bank6 20+3:, 7e esta !ished Grameen Bank in +8)3 %ith the o ;ecti'es o. he!p poor peop!e to escape .rom po'erty, 0r, 1unus recei'ed numerous *nternationa! a%ards inc!uding -he No e! Peace Pri"e in 200&, 7e has een ca!!ed as Banker to the Poor 9-he No e! 2oundation6 200&:, 1#1#2 E!"cation Pro.essor 1unus comp!eted his Matricu!ation e5amination .rom Co!!egiate 3choo! Chittagong6 Bang!adesh, 0uring his schoo! period he %as an acti'e Boy 3cout mem er and 'isited <est Pakistan = *ndia in +8#26 Europe6 >3$ = Canada in +8## and in Phi!ippine = ?apan in +8#8, Pro.essor 1unus achie'ed Bache!or degree .rom
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>ni'ersity o. 0haka in +8&0 and comp!eted his Masters .rom same >ni'ersity 9Ne!son Mande!a 2oundation6 >ndated:6 Muhammad 1unus achie'ed Ph0 in Economics .rom Vander i!t >ni'ersity in +8(+ 9Vander i!t >ni'ersity6 20+0: and ;oined at Midd!e -ennessee 3tate >ni'ersity as an $ssistant Pro.essor in economics, By returned in Bang!adesh he ;oined as 0epartment head o. Economics in Chittagong >ni'ersity 9-he No e! 2oundation6 200&:, 1##2 Ban%er to t e Poor *t is true that poor peop!e are credit %orthy and they ha'e 'ery !imited access to recei'ed credits, 0r, Muhammad 1unus made it possi !e and .or that reason he has een re.erred as anker to the Poor, 7e introduced a system %here anyone can get sma!! !oan e'en %ho is una !e to gi'es any guarantee 9BBC6 20++:, Grameen Bank a Bang!adeshi ank %here o..ered sma!! !oans to !i.t po'erty, 7is idea is copied in many countries, 7is contri ution to .ight against po'erty has ought No e! Pri"e .or him 9BBC6 20+3:, 1#& 'icro Cre!it Micro Credit is a sma!! amount o. credit or !oan gi'en to the poorest peop!e %ho are ad!y su..ering in .inancia! crisis y con'entiona! anks6 as they ha'e 'ery !imited sa'ings or properties to o tain a !oan, Microcredit a!so kno%n as in.orma! credit or are.oot anks 9B!iss6 200#:, Microcredit is a component or part o. micro .inance6 %here in micro credit sma!! amount o. !oans has een gi'en to the poor@s and in micro.inance nonAcredit .inancia! ser'ices are a!so in'o!'ed 9$rmendBri"6 B = Morduch:, -he idea o. modern microcredit system comes .rom Bang!adesh and y Pro.essor 1unus, -he idea %as started in +8(&6 y pro'iding C2( to 'i!!age %omen %ithout any co!!atera! 9Doth6 2002:, -hen this idea started to spread a!! o'er the %or!d and it in'o!'es mi!!ions o. orro%ers and sa'ers, *n +88#6 <or!d Bank !aunched a programme ca!!ed MicroA2inance Programme to assist the poorest 9B!iss6 200#:, -he idea o. micro credit %as an e..ecti'e too! to reduce po'erty ut no% many scho!ars and e5perts criticise and ha'e con.!ict %ith ideo!ogy 9?e..ey6 200#E Moyo6 2008:, Microcredit makes etter !i.e sty!e .or poor ut they rare!y contri utes to make poor countries richer 93uro%iecki6 200):, *n another recent re'ie% 0u'enduck et a! 920++:6
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argued that microcredit programs do not rought any positi'e impacts in the society it there is no c!ear and strong e'idence, 1#( Gra)een Ban% 7istory o. Grameen Bank started during +8(&A+8(8 .rom the home to%n o. Pro.essor Muhammad 1unus, <ith the he!p o. Bang!adesh Bank and go'ernment o%ned commercia! anks a success.u! pro;ect %as run in the 'i!!age o. ?o ra and !ater on pro;ect %as e5tended to other district in Bang!adesh, *n +8)36 y the constitution o. Bang!adesh go'ernment Grameen Bank trans.ormed into an independent ank, No% days 80F o. its share o%ned y its rura! poor mem ers and rest o. the share is o%ned y the Go'ernment 9Grameen Bank6 20+3a:, Grameen Bank had (,4 mi!!ion o. c!ients and !oans o. C#4# mi!!ion y the end o. 200), More than 40 countries are coping Grameen Bank mode! and ha'e %ide range o. success story 97u!me6 200):, $.ter .inishing Ph0 in >3$ Pro.essor 1unus returned in Bang!adesh and ;oined in Chittagong >ni'ersity and he rea!ised immediate needs o. thousand hungry and poor peop!e and he in.!uenced to come %ith Grameen Bank idea 91unus6 +888:, Grameen Bank is open .or e'eryone6 %here any co!!atera! is not reGuire against any !oan and Bank has no %ish to take any one to the court in case o. noArepayment, Out o. ),3# mi!!ion orro%ers 8(F o. the mem ers o. Grameen Bank are %omen, Grameen Bank operates in )+63(8 'i!!ages and has 26#&# ranches, 3ince it is esta !ished Grameen Bank distri uted C++,3# n o. !oans and they ha'e reco'ery rate o. 8(F %orth o. C+0,++ n, Grameen Bank decided not to recei'e any donor or any !oans .rom +88#6 they are %e!! capa !e to maintain re'enue o. C 2#2,0#m 9Grameen Bank6 20++:, y themse!'es and they earn pro.it each year e5cept +8)36 +88+ and +882 and at the end o. 20+0 Grameen had tota!

1#(#1 *t er +ent"res Pro.essor 1unus runs many other socia! usinesses, Pro.essor 1unus 9200(:6

argued that he is not opposite o. making money and he mentioned that socia! usinesses are a!!o%ed to make pro.it %ith the condition that pro.it %i!! stay %ith the company and o%ner %i!! not take any amount more than he in'ested, <ith the idea
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o. contri uting and achie'ing minimum one socia! achie'ement through the process and %ithout persona! gain .or the in'estor he started many other socia! usiness, 7e .ocused on co'er a!! the cost .or the company and make pro.it and at the same time achie'e the socia! o ;ecti'es6 such as hea!th and sanitation6 housing6 .inancia! ser'ices6 nutrition6 sa.e drinking %ater etc, 91unus Cenre6 20++:, Dist o. Grameen .ami!ies organisations are 9Grameen Bank6 20+3 :H

Grameen Communications Grameen trust Grameen 2und Grameen -e!ecom Grameen Cy ernet Dtd Grameen 3hakti/Energy Grameen Phone Grameen 3hikkha/Education Grameen Init%ear Dtd Grameen 3o!utions Grameen Bya osa Bikash

1#, -obel Pri.e Grameen Bank = Pro.essor Muhammad 1unus had re%arded y No e! Peace Pri"e in 200&, Concept o. microAcredit and %orks against po'erty .or 30 years ga'e this highest a%ard to Pro.essor 1unus and his Grameen Bank, Pro.essor 1unus mentioned that the day o. announcement o. No e! Pri"e 9+3 th Octo er6 200&: %as the happiest day .or Bang!adesh and a!! the peop!e .e!t that e'ery one o. them achie'ed the No e! Pri"e 9Grameen Bank6 20++:, No e! Peace Pri"e Committee ga'e a po%er.u! message that %or!d cannot !i'es in peace i. i!!ions !i'e in po'erty,

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Committee a!so mentioned that Pro.essor 1unus pro'ed that poorest o. poor can de'e!op themse!'es 9Grameen 2oundation6 20+3:, Pro.essor Muhammad 1unus and Grameen Bank made it possi !e .or eggars to ha'e access .or !oans, *n 2002 Grameen Bank took a pro;ect .or eggars and more that +++628& eggar ;oined in the program and B0- +&2,&0 mi!!ion distri uted among them and +86&() o. them !e.t egging and they are %orking as door to door sa!es person and other +06+)# eggars ;oined in main stream orro%ers in Grameen Bank 9Grameen Bank6 20++:, Moti'ation is the rea! e..ecti'e po%er to change 9Methot6 20+0:

1#,#1 *t er A/ar!s Pro.essor 1unus %on many internationa! a%ards .or his contri ution to remo'e po'erty and de'e!op !i.e sty!e o. poor peop!e, $%ards areH

0ist of A/ar! Recei1e! b$ Professor 2"n"s 1ear $%ard +883 +883 +884 Mohamed 3ha deen $%ard .or 3cience 7umanitarian $%ard <or!d 2ood Pri"e 3ri Danka Care6 >3$ <or!d 2ood Pri"e o. $%ard $%ard Gi'en y/2rom

Presentation6 >3$ +8)( *ndependence 0ay $%ard 7ighest $%ard in

Bang!adesh 2000
Page 8

Iing

7ussein

7umanitarian

Deadership Iing

7ussein

International Entrepreneurship

$%ard 2003 Vo!'o En'ironment Pri"e

2oundation6 ?ordan Vo!'o En'ironment

2oundation6 3%eden 2004 Nikkei $sia Pri"e .or 4egiona! Gro%th Nikhon 3him un6 ?apan 200& 2rank!in 06 4oose'e!t 2reedom $%ard 4oose'e!t *nstitute o. -he Nether!ands 200& 200& 3eou! Peace Pri"e Cu!tura! 2oundation -he No e! Peace Pri"e 3eou!6 Iorea No e! Peace Iei"ai

Committee6 Nor%ay 93ourceH -he No e! 2oundation6 200&:,

1#6 'oti1ation be in! t e s"ccess Moti'ation de.ined as moti'ation represent hypothetica! construct and some interna! and e5terna! .orces !ead the direction6 intention6 persistence and intensity o. eha'iour 9Va!!eran6 200+:, *n another de.inition o. moti'ation Graham = <einer 9+8)4:6 descri e as moti'ation is the study o. the reason o. peop!e thinking and their eha'iour as they do, By studying success.u! peop!e $ raham Mas!o% 9+8436 +8#46 and +8(0:6 proposed a positi'e theory o. human moti'ation, 7is theory %as ased on se!.Aactua!isation and he criticised other theories those %ere ased o. dys.unctiona! peop!e, Mas!o%@s theory %as pragmatic and rea!istic a out human eing and addresses socia! pro !ems and impro'es the human condition 97o..man6 +8)):, Mas!o%@s theory is the one o. the high!y cited theories o. moti'ation and organisationa! eha'iour 9<ah a = Brid%e!!6 +8)(E 7uitt6 200+:, Mas!o% 9+843: argued that human eha'iour is 'ery important6 some eha'iour is high!y moti'ated
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and some are %eak!y moti'ated and some eha'iour are not moti'ated at a!!, *n .i'e stage o. mode! Mas!o% 9+843: argued that peop!e are moti'ated to .u!.i! a certain needs and %hen one need is .u!.i!!ed he/she goes .or another one, 2i'e stage o. Mode! can e di'ided y t%o parts one is asic needs or de.iciency6 such as physio!ogica! needs6 !o'e6 sa.ety and esteem and second!y gro%th needs !ike se!.A actua!isation, E'ery sing!e person is capa !e to reach the se!.Aactua!isation !e'e! ut un.ortunate!y many o. them meet on!y !o%er !e'e! needs due to disrupted y .ai!ure 9McDeod6 20+3:, Pro.essor 1unus is high!y moti'ated y his o%n 'ision o. a %or!d %ithout po'erty, 7is idea egan in +8(& a.ter seeing asket %ea'ers in 'i!!ages !i'ing in 'ery poor condition and cannot pro'e their ski!!s, -hey %ere .orced to orro% money .rom high street !enders at high interest to uy am oo and they %ere una !e to make enough pro.it to repay the !oan, Pro.essor 1unus pro'ided a sma!! !oan o. C2( to a group o. %omen and they made pro.it and repay the !oan, 2rom that stage 1unus rea!ised that sma!! amount o. .inancia! ser'ice can ring change and he cou!d he!p poor to .ree themse!'es .rom po'erty 97uman 4ights6 20+3:, Pro.essor 1unus c!aims that Moti'ation can y e5tending !oans to poor he can send po'erty to the museum 9>mar6 20++:, ring changes and Pro.essor 1unus pro'ed that, 7e started his rought eggA!aying chicken and she has a Grameen Bank in +8)3 y gi'ing unsecured !oan o. C80 to a %oman to get out .rom po'erty, By the !oan that %oman construction company no% and she has enough money to uy a house and .eed her .ami!y mem ers, Grameen pro'ides !oan .or any purpose to .u!.i! the dreams6 such as to uy a co%6 ce!! phones or anything e!se 9Pau!son6 200&:,

1#3 Concl"sion Pro.essor 1unus got a!! the chance to ecome a rich man ut his ideo!ogy is di..erent that makes him Banker to the Poor, Muhammad 1unus %orks .or rura! peop!e o. 'i!!ages and he is .ighting against po'erty and his aim to make this %or!d po'erty .ree, 7e is not on!y asset .or Bang!adesh he is an asset .or %ho!e %or!d, Pro.essor 1unus teaches poor peop!e to dream a out %ea!thy .uture y de'e!oping

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themse!'es, Pro.essor 1unus is a mode! o. socia! entrepreneurshipE he introduced the %or!d ho% to get out .rom the po'erty, 7e is the man %ho teaches mi!!ions to see a dream o. %or!d %ithout po'erty, 7e is the man %ho continuous!y .ighting against po'erty, 7e pro'ed that sma!! amount can %ork and a !e to ring %ider changes,

References $rmendBri"6 B = Morduch6 ?6 920+0:, The Economics of Microfinance., 2nd ed, Cam ridgeH Mit Press, BBC 920++:, Profile: Muhammad Yunus, 'world's banker to the poor' , JOND*NEK $'ai!a !e .romH httpH//%%%, 0ate 24th No'em er6 20+3K BBC 920+3:, Muhammad Yunus: Banker to the Poor , JOND*NEK $'ai!a !e .romH httpH//%%%, c,co,uk/programmes/p0+) p3y, J$ccessed 0ate 24th No'em er6 20+3K
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c,co,uk/ne%s/%or!dAsouthAasiaA++80+&2#, J$ccessed

B!iss6 3 9200#:, MI !" !E#IT $ %M&'' '"&(%$BI) #!E&M% , JOND*NEK $'ai!a !e C4E0*-,pd.,, J$ccessed 0ate 24th No'em er6 20+3K 0u'endack M,6 4, Pa!merA?ones 46 ?,G, Copestake6 D, 7ooper6 1, Doke6 N, 4ao6 920++:, *+hat Is the E,idence of the Impact of Microfinance on the +ell$Bein- of Poor People. Dondon EPP*ACentreH 3ocia! 3cience 4esearch >nit6 *nstitute o. Education6 >ni'ersity o. Dondon, Graham6 3 = <einer6 B 9+8)4:, T/E"!IE% &(# P!I( IP'E% "0 M"TI1&TI"( , JOND*NEK $'ai!a !e .romH httpH//%%%,unco,edu/ce s/psycho!ogy/ke'inpugh/moti'ationLpro;ect/resources/graha mL%einer8&,pd., J$ccessed 0ate 2&th No'em er6 20+3K Grameen Bank 920++:, )rameen Bank &t & )lance "ctober,2344 , JOND*NEK $'ai!a !e 20+3K Grameen Bank 920+3:, Bio-raph5 of #r. Muhammad Yunus , JOND*NEK $'ai!a !e .romH No'em er6 20+3K Grameen Bank 920+3a:, & %hort /istor5 of )rameen Bank , JOND*NEK $'ai!a !e .romH httpH//%%%,grameenAin.o,org/inde5,phpM optionNcomLcontent=taskN'ie%=idN+8=*temidN++4, No'em er6 20+3K Grameen Bank 920+3 :, )rameen 0amilies "r-ani6ations, JOND*NEK $'ai!a !e .romH httpH//%%%,grameenAin.o,org/inde5,phpM optionNcomLcontent=taskN'ie%=idN4&#=*temidN#4(, No'em er6 20+3K J$ccessed 0ate 2#th J$ccessed 0ate 2#th httpH//%%%,grameenAin.o,org/inde5,phpM J$ccessed 0ate 23rd optionNcomLcontent=taskN'ie%=idN328=*temidN3&3, .romH httpH//%%%,grameen,com/inde5,phpM optionNcomLcontent=taskN'ie%=idN2&=*temidN0, J$ccessed 0ate 2#th No'em er6 .romH httpH//%%%,ptc,ns%,edu,au/3iteMedia/%3s'c3&+/>p!oads/0ocuments/24,F20M*C4O

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Grameen 2oundation 920+3:, &+&!#% 7 !E ")(ITI"(, JOND*NEK $'ai!a !e .romH httpH//%%%,grameen.oundation,org/a out/a%ardsArecognition, J$ccessed 0ate 2#th No'em er6 20+3K 7o..man6 E6 9+8)):, The ri-ht to be human: & bio-raph5 of &braham Maslow , 2nd ed, Dos $nge!esH ?eremy B, -archer6 *nc, 7uitt6 < 9200+:, Moti,ation to learn: &n o,er,iew. Educational Ps5cholo-5 Interacti,e, No'em er6 20+3K 7u!me6 06 9200):, Page + -he 3tory o. the Grameen BankH 2rom 3u sidised Microcredit to MarketA ased Micro.inance, B+PI +orkin- Paper, Brooks <or!d Po'erty *nstitute6 >ni'ersity o. Manchester, 7uman 4ights 920+3:, /&MPI"(% "0 /8M&( !I)/T% M8/&MM&# Y8(8% 9b. JOND*NEK $'ai!a !e .romH httpH//chiron,'a!dosta,edu/%huitt/co!/moti'ation/moti'ate,htm!, J$ccessed 0ate 2(th

4:;3<, JOND*NEK $'ai!a !e .romH httpH//%%%,humanrights,com/'oicesA.orAhumanA rights/muhammadAyunus,htm!, J$ccessed 0ate 2)th No'em er6 20+3K Mas!o%6 $, 76 9+843:, $ Pre.ace to Moti'ation -heory, Ps5chosomatic Medicine, Vo!, # 9>ni'ersity o. Manchester:6 pp,)#A82 Mas!o%6 $,7 6 9+8#46 +8(0:, Moti,ation and personalit5, Ne% 1orkH 7arper = 4o%, McDeod6 3 920+3:, Maslow's /ierarch5 of (eeds, JOND*NEK $'ai!a !e .romH httpH//%%%,simp!ypsycho!ogy,org/mas!o%,htm!, J$ccessed 0ate 2(th No'em er6 20+3K Methot6 P6 D 920+0:, M"TI1&TI"( #E0I(ITI"(%, JOND*NEK $'ai!a !e .romH httpH//methoto!ogy,com/Moti'ationL0e.initions,htm!, J$ccessed 0ate 2&th No'em er6 20+3K Moyo6 06 92008:, #ead &id: +h5 &id Is (ot +orkin- and /ow There is &nother +a5 for &frica, Ne% 1orkH 2arrar6 3traus6 and Girou5,

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Ne!son Mendae!a 2oundation 9>ndated:, Bio-raph5 of Professor Muhammad Yunus , JOND*NEK 23rd No'em er6 20+3K Pau!son6 - 9200&:, Muhammad Yunus Turns "pportunit5 and Microcredit into Moti,ation to 'i,e a #ream, JOND*NEK $'ai!a !e .romH httpH//terrypau!son,typepad,com/moti'ation!ine/200&/+0/muhammadLyunusL,htm!, J$ccessed 0ate 2)th No'em er6 20+3K 3uro%iecki6 ? 9200):, *+hat Microloans Miss=, JOND*NEK $'ai!a !e .romH $'ai!a !e .romH httpH//%%%,ne!sonmande!a,org/images/up!oads/1unusLBioLD-,pd.,, J$ccessed 0ate

httpH//%%%,ne%yorker,com/ta!k/.inancia!/200)/03/+(/0)03+(taLta!kLsuro%iecki, J$ccessed 0ate 24th No'em er6 20+3K -he No e! 2oundation 9200&:, Muhammad Yunus $ Bio-raphical, JOND*NEK $'ai!a !e .romH httpH//%%%,no e!pri"e,org/no e!Lpri"es/peace/!aureates/200&/yunusA io,htm!, J$ccessed 0ate 23rd No'em er6 20+3K >mar6 B 920++:, The stor5 of #r. Yunus and )rameen Bank , JOND*NEK $'ai!a !e .romH httpH//opinion, dne%s24,com/20++/04/2#/theAstoryAo.AdrAyunusAandAgrameenA ank/, J$ccessed 0ate 2)th No'em er6 20+3K Va!!erand6 4, ?, 9200+:, Intrinsic and e>trinsic moti,ation in sport and e>ercise: & re,iew usin- the hierarchical model of intrinsic and e>trinsic moti,ation , *n 4, 3inger6 *A*, 7ausen !as6 = C, ;ane!!e 9Eds:6 2 nd ed, 7and ook o. sport psycho!ogy, Ne% 1orkH ?ohn <i!ey, pp3)8O4+& Vander i!t >ni'ersity 920+0:, 1anderbilt Economics Ph.#. and )PE# &lumnus Muhammad Yunus wins (obel Peace Pri6e , JOND*NEK $'ai!a !e .romH httpH//%%%,'ander i!t,edu/econ/yunus,htm, J$ccessed 0ate 23rd No'em er6 20+3K <ah a6 M, $, and Brid%e!!6 D, G, 9+8)(:, Mas!o% 4econsideredH $ 4e'ie% o. 4esearch on the 7uman Need 7ierarchy -heory. In Moti,ation and +ork Beha,ior, 4, M, 3teers and D, <, Porter6eds6 Ne% 1orkH McGra%A7i!! Book Company6 pp#+A#),

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1unus

Centre

920++:, %" I&'

B8%I(E%%,

JOND*NEK

$'ai!a !e

.romH

httpH//%%%,muhammadyunus,org/inde5,php/socia!A usiness/socia!A usinessP, J$ccessed 0ate 2#th No'em er6 20+3K 1unus6 M 9200(:, %" I&' B8%I(E%%, JOND*NEK $'ai!a !e .romH

httpH//%%%,muhammadyunus,org/inde5,php/socia!A usiness/socia!A usinessP, J$ccessed 0ate 2#th No'em er6 20+3K 1unus6 M6 9+888:, Banker to the Poor: Micro$'endin- and the Battle &-ainst +orld Po,ert5, 2nd ed, >3$H Pu !ic $..airs,

PART-2
2. Intro!"ction International Entrepreneurship Page 15

-his part o. the report %i!! discuss a out Pro.essor 1unus@s entrepreneurship sty!e, *n this part o. the report %i!! pro'ide c!ear understanding o. socia! entrepreneurship and %i!! .ocus on Pro.essor 1unus as a socia! entrepreneur, 4eport %i!! a!so descri e %hy Pro.essor Muhammad 1unus treated as socia! entrepreneur, End o. the report %i!! discuss a out criticism o. Grameen Bank and Pro.essor 1unus@s entrepreneurship,

2#1 A real social entreprene"r $n indi'idua! %ho operates or organises usiness ca!!ed entrepreneur, $n

entrepreneur earns nonA.i5ed income and pay kno%n cost o. production 9-arascio6 +8)#:, 0i..erent author and scho!ars de.ine entrepreneurship id di..erent %ays, Gartner 9+8)):6 de.ine entrepreneurship means creation o. ne% usiness, <hi!e 0a'idson et a! 9200&: de.ine entrepreneurship s!ight!y in di..erent %aysE they suggested that entrepreneurship is the creation o. ne% economic acti'ities, 7o%e'er Dumpkin = 0ees 9+88&:6 argued that entrepreneurship is creating a ne% .irm and economic acti'ities6 they a!so suggested that inno'ation is not on!y creation o. ne% acti'ities ut a!so esta !ished a ne% .irm, Entrepreneurship not ound on ;ust creating ne% usiness or economic acti'ities, Entrepreneurs are p!aying important ro!e in countries de'e!opment, -hey contri ute a country@s economy y creating ne% ;o s and inno'ations 9$cs = $udretsch:, Pro.essor 1unus open the %indo%s o. .uture de'e!opment, 7is Grameen Bank created 226+24 ;o s in Bang!adesh and his mode! is using more than 40 countries across the %or!d and in e'ery country his idea he!ps to creates more ;o s 9Grameen Bank6 20++:, By the end o. 200(6 Grameen had (,4+ mi!!ion o. mem er and a!! o. them had access to gain !oan .rom the ank and a!! o. them had minimum amount o. deposit on the ank and 8(F o. them %ere %omen 9$nnua! 4eport6 200(:, 3ocia! entrepreneurship is the .ie!d .or entrepreneurs to sho% their acti'ities to achie'e their goa!s and creates socia! 'a!ues %ith !imited or no intention to make persona! pro.it 93ai.an6 20+2:, 3ocia! Entrepreneurship is something di..erent .or di..erent peop!e 90ees6 200+:, Moti'ation o. socia! entrepreneurship stems .rom critica! socia! pro !ems and their dedication to%ards society and impro'ing the %e!!A
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eing o. society 9Qahra et a!6 200):, 3ocia! entrepreneurship means community de'e!opment or socia! purpose organisations 9-ay!or et a!6 2000:, Muhammad 1unus is a hero o. socia! entrepreneurship .or his %ork and creating Grameen Bank, 7is microAcredit mo'ement is trans.orming one p!ace to another, Grameen phone Bang!adesh@s !argest mo i!e phone operator #+F o%ned y the -e!enor o. Nor%ay, NonApro.it organisation Grameen -e!ecom %orking %ith -e!enor to pro'ide ta!k times to 'i!!age phones, 7is another enterprise Grameen 3hakti se!! a out +#00 so!ar pane! systems e'ery month in 'i!!ages in Bang!adesh %ithout any su sidies and he!ping peop!e to get e!ectricity 97utchinson6 200(:, Many scho!ars and %e sites mentioned him as one o. the top socia! entrepreneurs o. a!! time 93i!icon *ndia6 20+2E Pettinger6 20+3E On!ine Co!!ege6 20+2:, Muhammad 1unus %as a Boy 3cout mem er and no% he is one o. the pioneer socia! entrepreneurs, $s Boy 3cout he had strong empathy .or an e5ce!!ence community6 his respect = responsi i!ity rought an opportunity to trip in <or!d ?am oree in Canada 9$shoka6 20+3:, Pro.essor 1unus@s creation Grameen Bank is o%ned y its mem ers, 8#F o. the

tota! eGuity o. the ank is o%ned y its orro%ers and rest o. the #F is o%ned y the go'ernment, 0r, 1unus made it possi !e that .or any !oan no one needs any co!!atera! and e'en street eggars ha'e eGua! access to recei'e a !oan %ithout any guarantee 9Grameen Bank6 20++:, Grameen 2ami!y or Grameen Net%ork has more than 30 indi'idua! organisations, Poor peop!e o. the 'i!!ages ha'e access to gain education to insurance to mo i!e communication, Grameen .ami!y o..ers hea!th care6 nutrition6 e!ectricity6 knit%ear6 te!ecommunication6 education and many more .aci!ities 9Grameen6 20++:,

2#2 Criticis)
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-as!ima Begum on o. the director o. Grameen Bank recei'ed No e! Pri"e in 200& %ith Pro.essor 1unus and that year %as the proudest moment .or Bang!adesh, 3he started as a orro%er y taking !oan o. C+2 to uy a goat, 3he said her parents ga'e irth ut Gramenn ank ga'e her !i.e, $.ter 28 years o. operation Grameen Bank is under cha!!enges .rom the Bang!adesh go'ernment, Go'ernment is trying to take more po%er on Grameen Bank and they appointed ne% Chairman 9$!AMahmood6 20+2:, Pro.essor 1unus .orced out .rom the position o. director highest court on #th $pri!6 20++, Court ru!ed that y Bang!adesh@s y the !a% no one can act as

managing director at the age o. &0 p!us and Pro.essor 1unus %as (0 9-he Economist6 20++:, Pro.essor 1unus has een criticised .or his pro.it .rom the !oans o. poor and ne%!y appointed chairman o. Grameen Bank treated Muhammad 1unus as a man o. sma!! heart and he a!so mentioned that Grameen@s !oan %as not .or e'eryone ut .or 1unus 9Po!green6 20++:, Nor%egian go'ernment is in'esting against Pro.essor 1unus .or di'erting near!y C+00m .rom Grameen Bank to Grameen Ia!yanm 90rea6 20+0:, Prime Minister o. Bang!adesh 3hekh 7asina mentioned 1unus as a !ood sucker o. the poor, 3he a!so criticised 1unus and microAcredit system and argued that microAcredit did not ring any impro'ement to the !i.e sty!e o. the poor ut they ha'e een used to get more aid 9Bahra6 20+0:,

2#& Concl"sion -here may e ha'ing argument a out Pro.essor 1unus@s entrepreneurship and his creation Grameen Bank@s acti'ities, Many scho!ars and economist are against microA credit, 7o%e'er6 No e! Peace Pri"e %inner Pro.essor 1unus creates an idea to get o.. .rom the po'erty, 7is idea can change the %or!d y saying good ye to the po'erty, 2ounder o. Grameen Bank and microAcredit system6 Pro.essor 1unus is the one o. the top socia! entrepreneur o. a!! time 9On!ine Co!!ege6 20+2E 3i!icon *ndia6 20+2E Pettinger6 20+3:, 7e is the icon and ro!e mode! .or mi!!ions o. poor peop!e6 those started to e!ie'e that they can change their !i.e,

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References

$!AMahmood6 36 Q 920+2:, Muhammad Yunus and Ban-ladesh -o,ernment battle o,er )rameen Bank, JOND*NEK $'ai!a !e .romH httpH//%%%,theguardian,com/g!o a!A de'e!opment/20+2/no'/2+/muhammadAyunusA ang!adeshAgrameenA ank, J$ccessed 0ate 30th No'em er6 20+3K $nnua! 4eport 9200(:, Past 0i,e Years of )rameen Bank , JOND*NEK $'ai!a !e .romH httpH//%%%,grameenAin.o,org/inde5,phpM optionNcomLcontent=taskN'ie%=idN#30=*temidN&08, No'em er6 20+3K $shoka 920+3:, 0rom Bo5 %cout to Microcredit Pioneer: 'esson on from the 'ife of Muhammad Yunus , JOND*NEK han-e makin.romH J$ccessed 0ate 28th

$'ai!a !e

httpH//%%%,.or es,com/sites/ashoka/20+3/04/+)/.romA oyAscoutAtoAmicrocreditA pioneerA!essonsAonAchangemakingA.romAtheA!i.eAo.AmuhammadAyunus/, 0ate 30th No'em er6 20+3K Bahra6 P 920+0:, Microfinance: Is )rameen 0ounder Muhammad Yunus a Bloodsucker of the Poor., JOND*NEK $'ai!a !e .romH httpH// !ogs,%s;,com/source/20+0/+2/0&/micro.inanceAisAgrameenA.ounderA muhammadAyunusAaA !oodsuckerAo.AtheApoor/, J$ccessed 0ate 30th No'em er6 20+3K 0a'idsson6 P, 0e!mar6 2, and <ik!und6 ?6 9200&:, Entrepreneurship and the )rowth of 0irms, +st ed, Che!tenhamH Ed%ard E!gar Pu !isher, Pp2+A3), 0ees6 ?6 G 9200+:, The Meanin- of ?%ocial Entrepreneurship , JOND*NEK $'ai!a !e .romH httpH//%%%,caseatduke,org/documents/deesLsede.,pd.,, J$ccessed 0ate 28th No'em er6 20+3K 0rea 920+0:, (orwa5 In,esti-ates Muhammad Yunus= )rameen Bank , JOND*NEK $'ai!a !e .romH httpH//%%%, usinesspundit,com/nor%ayAin'estigatesAmuhammadA yunussAgrameenA ank/, J$ccessed 0ate 30th No'em er6 20+3K
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J$ccessed

Gartner6 <, B6 9+8)):, <ho is an EntrepreneurM *s the <rong Ruestion, &merican @ournal of %mall Business. +2 9+:6 pp,+0A33, Grameen Bank 920++:, )rameen Bank &t & )lance "ctober,2344 , JOND*NEK $'ai!a !e 20+3K 7utchinson6 V 9200(:, Muhammad Yunus, JOND*NEK $'ai!a !e .romH .romH httpH//%%%,grameen,com/inde5,phpM optionNcomLcontent=taskN'ie%=idN2&=*temidN0, J$ccessed 0ate 28th No'em er6

httpH//'i'iano5.ord0(, !ogspot,co,uk/200(/04/muhammadAyunus,htm!, 0ate 28th No'em er6 20+3K

J$ccessed

Dumpkin6 G6 -, and 0ess6 G6 G6 9+88&:, C!ari.ying the Entrepreneuria! Orientation Construct and Dinking it to Per.ormance, The &cadem5 of Mana-ement !e,iew , 2+ 9+:6 pp,+3#A2#), On!ine Co!!ege 920+2:, The 43 )reatest %ocial Entrepreneurs of &ll Time , JOND*NEK $'ai!a !e .romH httpH//%%%,on!ineco!!ege,org/20+2/0&/2&/theA+0AgreatestAsocia!A entrepreneursAa!!Atime/, J$ccessed 0ate 28th No'em er6 20+3K Pettinger6 -6 G 920+3:, Top 43 0amous Entrepreneurs, JOND*NEK $'ai!a !e .romH httpH//%%%, iographyon!ine,net/ usiness/topA+0Aentrepreneurs,htm!, J$ccessed 0ate 28th No'em er6 20+3K Po!green6 D 920++:, Microcredit Pioneer 0aces an InAuir5 in Ban-ladesh , JOND*NEK $'ai!a !e .romH httpH//%%%,nytimes,com/20++/0+/30/%or!d/asia/30 ang!adesh,htm!M page%antedNa!!=LrN0, J$ccessed 0ate 30th No'em er6 20+3K 3ai.an6 2(, 3i!icon *ndia 920+2:, 42 )reatest Entrepreneurs in the +orld , JOND*NEK $'ai!a !e .romH httpH//%%%,si!iconindia,com/ne%s/ usiness/+2AGreatestAEntrepreneursAinAtheA <or!dAnidA++0(3)AcidA3,htm!, J$ccessed 0ate 30th No'em er6 20+3K 36 $6 920+2:, 3ocia! EntrepreneurshipH 0e.inition and

Boundaries, Technolo-5 Inno,ation Mana-ement !e,iew , Vo!, 2e ruary 92:6 pp,22A

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-arascio6 V6 ?6 9+8)#:, SCanti!!onTs EssaiH $ Current Perspecti'eS, @ournal of 'ibertarian %tudies, 28 92:6 pp,2#0A2## -ay!or6 N,6 7o !esearch. Qahra6 36 $,6 4a%houser6 76 N,6 Bha%e6 N,6 Neu aum6 06 O and 7ayton6 ?6 C6 9200):, G!o a!i"ation o. socia! entrepreneurship opportunities, %trate-ic Entrepreneurship @ournal, Vo!, 2 92:6 pp,++(A+3+ s6 4, Ni!sson6 2,6 O@7a!!oran6 I, = Preisser6 C, 92000:, -he rise o. the

term socia! entrepreneur in print pu !ications, 0rontiers of Entrepreneurship

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Bibliograp ies
Hisrich, R. D, (2012). International Entrepreneurship: Starting, Developing, and Managing a Global Venture. 2nd ed. Los Angeles: Sage.

!eupp M.M." #ass$ann" %. &2 International

9' ()he Past an* the +uture o, /e0ie1 an* Suggestions 3633. ,or

Entrepreneurship- .

2e0eloping the +iel*(" Journal of Management" 35 &3'" p6 4oane" S." Bell" 5." an* Mc6aughton" /. &2

6' 7E$plo8ing in,or$ation

co$$unication technologies to enhance 9ualitati0e international $ar:eting en9uir87" International Marketing Review" 23 &4'" pp. 4383455
Monitor (2012). GEM Global Entrepreneurship Monitor 2012 report .

[O L! "# A$aila%le &ro': htt(:))***.ge'consorti+'.org)categor,-list.as(.. [Accessed Date /0th o$e'%er, 201/#.

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I-TER-ATI*-A0 E-TREPRE-E:R6;IP REC*R56 Co)pan$: Gra)een Ban% Researc er: B006(3612 0ocation! Bang!adesh General feedback from assignments will be provided within 10 working days. Entreprene"r: Professor '" a))a! 2"n"s

Profile of firm
RE4# 1#1 1#2 1#& Company ageH 3i"e 9no, o. emp!oyees/sa!es turno'er: *ndustry sector Main o..erings 7tr$ an! get on-line broc "res8 )aterials etc9 1#( Main MarketsH 0omestic/*nternationa! B2B B2C 1#, *. internationa!6 no, o. markets Percentage o. sa!es as e5ports 40 Doca! 5E6CRIPTI*30 years 226+24 Micro Credit RE6P*-6E

Demographic profile of Entrepreneur

(Check and see if the entrepreneurs profile is on firms website or if he/she has a personal site. Do an on-line person search and media search

RE4# 2#1 2#2

5E6CRIPTI*$ge6 gender6 education6 marita! status6 etc Prior %ork e5perience/s <orked .or/o%ned another usinessM Persona! interests6 specia!ist training6 etc, Other re!e'ant/interesting in.ormation

RE6P*-6E $geH (06 EducationH Ph0 in Economics6 Married Pro.essor in Chittagong >ni'ersity6 Bang!adesh $ssistant Pro.essor in Midd!e -ennessee 3tate >ni'ersity MicroACredit

2#& 2#(

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"oti#ation to start business

RE4# &#1 &#2 5E6CRIPTI*<hat .actor/s moti'ated entrepreneur to start up <hat !e'e!s o. support did he/she get .romH 2ami!y = .riends 3pouse/partner Go'ernment agencies 2inancia! institutions 9 anks etc,: <hat startAup arriers did they .aceM 9e,g, !ack o. .inance/management e5pertise6 etc 7o% did they o'ercome these arriersM <hat cha!!enges do they current!y .aceM Po'erty *nternationa! = Go'ernment support RE6P*-6E

&#& &#( &#,

2inancia! Got donations .rom .oreign nations Government forced out him from the position of Director of Grameen Bank

$uture Plans

RE4# (#1 (#2 (#& (#(

5E6CRIPTI*7o% has usiness changed/gro%n <hat .uture p!ans do they ha'e .or the usiness E5pand/maintain/di'est <hat .uture am itions do they ha'e .or themse!'es <hat do they consider to e the secret/s o. their success <hat ad'ice %ou!d they gi'e other potentia! entrepreneurs

RE6P*-6E 3tarted %ith pro'iding !oan o. C2( no% has more than 30 'entures By 2030 %ish to make Bang!adesh po'erty .ree

3e!.Amoti'ation6 empathy6 and o'ercome the po'erty

(#,

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International Entrepreneurship Page 25