This week I enjoyed the reading from How to Change the World and the principles it taught. Some of the key things it taught are the following: Willingness to Self-Correct, Willingness to Share Credit, Willingness to Break Free of Established Structure, Willingness to Cross Disciplinary Boundaries, Willingness to Work Quietly, and Strong Ethical Impetus. These are all important and I truly believe we should apply them as we strive to work with others, whether they be our partners, employees, clients, etc., we should be aware of these principles so we can perfect them in our dealings with the people we encounter.
Other than providing loans and money to the poor, explain other benefits that came about from Muhammad Yunus' Grameen Bank.
After that took place, there was something that is extremely important that was realized, the poor can be trusted and be reliable. The Grameen Bank's statistics were amazing when it came to the poor paying back their loans at 97%. All these people wanted and needed was an opportunity and the Grameen Bank offered that.
How did Muhammad Yunus have to "unlearn and relearn" what economics had taught him?
He was taught to have a certain mindset about lending and interests and things that had to do with the upper class citizens who had money. When he decided to start a bank for the poor he had to unlearn the mindset of working with the "wealthy" and relearn how economics really can benefit everyone. Essentially, the key was changing his mindset and the mindset of those around him.
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