Muhammad Yunus: The Social Hero Of Muhammad Yunus

THE NEW HEROES: SOCIAL ENTREPRENEURS

Written Assignment

Unit 2

Entrepreneur 1

Student

Professor: Lance Vegren

University of the People

Abstract

This paper will take about the new heroes, the social entrepreneur. I will focus on Muhammad Yunus, his work and accomplishments in Bangladesh, where his entrepreneur story takes place. I will also talk about why is he consider a hero and his contribution toward the importance of entrepreneurship and economy.

MUHAMMAD YUNUS

Muhammad Yunus was born in born in Bangladesh on June 18, 1940. He was the third of nine children. His father’s name was Hazi Dula (he was a jeweler) and his mother’s name was Sufia Khatun (she took care of the children). Muhammad spent most of his childhood

He notice that the woman there made loans to usurious to be able to buy bamboo and make their furniture to sell. To him this was outrageous because most if not all the profit had to be paid because of the high interest they were charge, and was more surprise that the banks would not make any small loans, because they saw these people as high risk of default. So, Muhammad lend money (from his own pocket) to some of those women, these woman paid him back and with a small interest. And here is where Muhammad Yunus came with the idea of

He gave a fighting chance to the people of Bangladesh, the poor people, to obtain small loans, which otherwise would have been impossible for them, and so, creating the real possibility of a better future for them, and better economy for the country and the people would be able to make their own money, not depending from the government, and at the same time, making the economy of the country grow and flourish, with a continuous injection of money. He saw in these people what other never even bother looking, he believed in them and also in his idea, and he became an Entrepreneur