Entrepreneurs: Muhammad Yunus There are many greats in the rich history of entrepreneurialship. Many people have really paved the way and have made great strides in the field of entrepreneurialship. Perhaps you haven’t heard of Muhammad Yunus but he was a simple man who grew up in Bangladesh. His contributions have made him well known. Below are some of the big things that he has done and how he became well known.
Beginnings Muhammad Yunus was born in India in 1940. He grew up in a small village and later moved into a bigger city called Chittagong. He achieved his bachelors and Masters from Dhaka University and was able to really get a jump in his career because of his education. Yunus jumped into economics and made himself a good living in that field.
Yunus’s early career Yunus was able to really pave the way into economics. Back in his time, many poor people weren’t able to get loans and so they struggled with trying to make things or have any sort of business. Banks wouldn’t loan the money because it was very likely that the poor people wouldn’t be able to pay the loan back. Yunus felt that this wasn’t right and so he devised his own scheme. He decided to lend out money to many poor people because he felt that he could trust them. In detail, Yunus lent 27 American Dollars to a total of 42 women. He was able to make back his money and made big advances with his experiment. Yunus is now accredited with his microcredit idea and has become somewhat famous for that.
A modern day robin hood Yunus was well known for what he did as far as giving to the poor. He often went to the government trying to get loans to help the poor. He tried to stimulate the poor areas that he knew and was trying to help all of the poor people out. He managed to get 6.38 billion American dollars and distributed it out to a massive amount of people, 7.4 million to be exact. His contributions are well known in india and other areas alike.
The Nobel Peace prize The Nobel Peace prize is not like any other award. It is only given sparingly to few people for their huge advances or acts they have done. Yunus definitely was able to acquire such an award. With all that he did for India and other fronts alike, he clearly deserved this fitting reward.
Yunus kept going once he won the award. His winnings were about a total of 1.4 million dollars but he didn’t just keep this to himself, he actually used these funds to create a business that would make nutritional food at a low cost so that many other people could benefit from nutritional food, not just those that could afford it.
His legacy Muhammad Yunus is a man of large values who truly has done a lot of good in this world. What started with his business degree led him to a world of charity and good. If you are looking at a business degree, whether it is in Flagstaff or in New York, let your true self shine out like this amazing entrepreneur did.