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Leadership - Dr. Muhammod Yunus

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  • 1. [Leadership Dr. Muhammad Yunus] April 21, 2014 1 Mohaimin Ul Jobair Leadership - Assignment Executive Summary: Professor Dr. Muhammad Yunus is a Bangladeshi banker and economist. He is the developer and founder of the concept of microcredit, the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans. Yunus is also the founder of Grameen Bank. In 2006, they were jointly awarded the Nobel Peace Prize, "for their efforts to create economic and social development from below. The Grameen Bank (in Bengali, Grameen means rural) which Dr. Yunus has built over the last 22 years is today the largest rural bank in Bangladesh. It has over 2 million borrowers and works in 35000 villages in a country of 68000 villages. 94% of its borrowers are women. The bank is based on simple, sensible rules, meticulous organization, imagination and peer pressure among borrowers. The break that Grameen Bank offers is a collateral-free loan, sometimes equivalent to just a few U.S. dollars and rarely more than $100. In rural areas, it makes things happen. 98% of its loans are honored. Thus he has turned into reality a philosophy that the poorest of the poor are the most deserving in the land and that given the opportunity they can lift themselves out of the mire of poverty. His ideas combine capitalism with social responsibility. Micro-credit concept is now being practiced in 58 countries. In the US, it is a success even with the Shifting poor of Chicago's toughest districts. The United States alone has over 500 Grameen spin-offs. Bill Clinton said in his election campaign that Yunus deserved a Nobel Peace Prize and cited the Experiment of Dr. Yunus as a model for rebuilding the inner cities of America. Pilot projects are starting in Britain. The methods are adapted to suit local conditions, but the principle of empowering individuals with their own capital is the same.

2. [Leadership Dr. Muhammad Yunus] April 21, 2014 2 Mohaimin Ul Jobair Leadership - Assignment Definition of Leadership: 1. The individuals who are the leaders in an organization, regarded collectively. 2. The activity of leading a group of people or an organization or the ability to do this. Leadership involves establishing a clear vision,sharing that vision with others so that they will follow willingly,providing the information, knowledge and methods to realize that vision, and coordinating and balancing the conflicting interests of all members and stakeholders. A leader steps up in times of crisis, and is able to think and act creatively in difficult situations. Unlike management, leadership cannot be taught, although it may be learned and enhanced through coaching or mentoring. Someone with great leadership skills today is Bill Gates who, despite early failures, with continued passion and innovation has driven Microsoft and the softwareindustry to success. The act of inspiring subordinates to perform and engage in achieving a goal. Types of Leadership: Autocratic leadership Bureaucratic leadership Charismatic leadership Democratic leadership or participative leadership Laissez-faire leadership. People-oriented leadership or relations-oriented leadership Servant leadership Task-oriented leadership Transactional leadership Transformational leadership 3. [Leadership Dr. Muhammad Yunus] April 21, 2014 3 Mohaimin Ul Jobair Leadership - Assignment Seven Principles of Social Business:Grameen Bank: 1. Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization 2. Financial and economic sustainability 3. Investors get back their investment amount only. No dividend is given beyond investment money 4. When investment amount is paid back, company profit stays with the company for expansion and improvement 5. Environmentally conscious 6. Workforce gets market wage with better working conditions 7. ...do it with joy A successful Leader& Critical Analyze: Dr. Prof. Muhammad Yunus The Founder of Grameen Bank one most successful entrepreneur and leader of Bangladesh and well known for his micro lending process & implementation in the real world. 4. [Leadership Dr. Muhammad Yunus] April 21, 2014 4 Mohaimin Ul Jobair Leadership - Assignment Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. His objective was to help poor people escape from poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves. From Dr. Yunus' personal loan of small amounts of money to destitute basket weavers in Bangladesh in the mid-70s, the Grameen Bank has advanced to the forefront of a burgeoning world movement toward eradicating poverty through micro lending. Replicas of the Grameen Bank model operate in more than 100 countries worldwide. Born in 1940 in the seaport city of Chittagong, Professor Yunus studied at Dhaka University in Bangladesh, and then received a Fulbright scholarship to study economics at Vanderbilt University. He received his Ph.D. in economics from Vanderbilt in 1969 and the following year became an assistant professor of economics at Middle Tennessee State University. Returning to Bangladesh, Yunus headed the economics department at Chittagong University. From 1993 to 1995, Professor Yunus was a member of the International Advisory Group for the Fourth World Conference on Women, a post to which he was appointed by the UN secretary general. He has served on the Global Commission of Women's Health, the Advisory Council for Sustainable Economic Development and the UN Expert Group on Women and Finance. Professor Yunus is the recipient of numerous international awards for his ideas and endeavors, including the Mohamed Shabdeen Award for Science (1993), Sri Lanka; Humanitarian Award (1993), CARE, USA; World Food Prize (1994), World Food Prize Foundation, USA; independence Day Award (1987), Bangladesh's highest award; King Hussein Humanitarian Leadership Award (2000), King Hussien Foundation, Jordan; Volvo Environment Prize (2003), Volvo Environment Prize Foundation, Sweden; Nikkei Asia Prize for Regional Growth (2004), Nihon Keizai Shimbun, Japan; Franklin D. Roosevelt Freedom Award (2006), Roosevelt Institute 5. [Leadership Dr. Muhammad Yunus] April 21, 2014 5 Mohaimin Ul Jobair Leadership - Assignment of The Netherlands; and the Seoul Peace Prize (2006), Seoul Peace Prize Cultural Foundation, Seoul, Korea. He is a member of the board of the United Nations Foundation. Achievement of Dr. Muhammod Yunus: The most respected achievement that Dr.Professor Muhammad Yunus, was awarded the Nobel Prize for Peace in 2006. Scholarships / fellowships: 1. Awarded Fulbright Fellowship to study in the U.S.A. for 1965-66. 2. Awarded Vanderbilt University research and teaching fellowships during 1966-69. 3. Awarded Eisenhour Exchange Fellowship for 1984. 4. Senior Fellow, The Institute of Mediterranean Studies,Universita della Svizzera Italiana, Lugano, Switzerland (2000 - Present). Professional Experiences: 1962-65 : Lecturer of Economics, Chittagong College, Bangladesh 1969-72 : Assistant Professor of Economics, MTSU, Tennessee, USA 1972 (July-Sept) : Deputy Chief, General Economics Division, Planning Commission,Government of Bangladesh. 1972 - 75 : Associate Professor of Economics and Head of the Department of Economics, Chittagong University, Bangladesh 1975 - 1989 : Professor of Economics, Chittagong University and Director, Rural Economics Program, Chittagong, Bangladesh 1976 - 1983 : Project Director, Grameen Bank Project, Bangladesh 1983 - 2011 : Managing Director, Grameen Bank, Bangladesh 1996 (April-June) : Cabinet Minister (Advisor) in the Caretaker Government of Bangladesh. 6. [Leadership Dr. Muhammad Yunus] April 21, 2014 6 Mohaimin Ul Jobair Leadership - Assignment Membership of Committees and Commissions (National): 1981 : Member, National Committee on Population Policy set up by the President of Bangladesh. 1982 : Member, Land Reform Committee, set up by Chief Martial Law Administrator, headed by the Minister of Agriculture. 1987-88 : Member, Education Commission, Government of Bangladesh. 1989-90 : Appointed as the Chairman of the Socio-economic Committee of the National Disaster Prevention Council set up by the President of Bangladesh. 1989 : Member of the Task Force for reviewing the operation of the Nationalized Commercial Banks, Bangladesh. 1991 : Appointed as the Convener of the Task Force on Self-Reliance set up by the Planning Advisor. 2001 : Member of the National ICT Task Force Committee, Ministry of Planning, Bangladesh. A Short History of Grameen Bank created by Dr. Yunus: Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity. The origin of Grameen Bank can be traced back to 1976 when Professor Muhammad Yunus, Head of the Rural Economics Program at the University of Chittagong, launched an action research project to examine the possibility of designing a credit delivery system to provide banking services targeted at the rural poor. The Grameen Bank Project Grameen means "rural" or "village" in Bangla language came into operation with the following objectives: extend banking facilities to poor men and women; eliminate the exploitation of the poor by money lenders; create opportunities for self-employment for the vast multitude of unemployed people in rural Bangladesh; 7. [Leadership Dr. Muhammad Yunus] April 21, 2014 7 Mohaimin Ul Jobair Leadership - Assignment bring the disadvantaged, mostly the women from the poorest households, within the fold of an organizational format which they can understand and manage by themselves; reverse the age-old

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