Social Entrepreneurship/ Business & Innovation
1. A lesson on Social Entrepreneurship by Prof. Muhammad Yunus .click here
2. In 1976, he founded Grameen Bank, a so-called “bank for the poor,” with just 27 USD. The bank provides people access to small loans without the need for collateral. This is called microcredit. Since its creation, Grameen Bank has given loans totaling over 3B USD to 7 million people. According to the bank, among those who received a loan, over 50% escaped from poverty. Their community-based monitoring system helped the bank reduce the costs and achieve a high repayment rate of over 90%.click here
3. What is social business? And how is it different from Social Enterprise?click here
4. Muhammad Yunus is a Bangladeshi social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006, Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize “for their efforts through microcredit to create economic and social development from below”. The Norwegian Nobel Committee said that “lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty” and that “across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own developmentclick here
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