Grameen Bank, Essay Example

Social entrepreneurship is the attempt to solve or at least alleviate a social issue through bolder and often never-tried-before methods. Social entrepreneurs are not afraid to think outside the box because they realize older methods are not working. In addition, they also understand the opportunities presented by globalization and advancements in technology and are willing to employ them. Social entrepreneurship could be considered the creative side of nonprofit sector which aims to do more with less.

One of the social entrepreneurship initiatives I personally connect with is Grameen Bank (Grameen Bank). Grameen Bank is especially an inspiring story because it didn’t take place in the western world but in one of the most unlikely places, i.e. Bangladesh. Grameen Bank deserves even more praise due to the fact that 97 percent of its loans have been to women (Grameen Bank). One of the most admiring facts about Grameen Bank is that it tried to provide funding to poorest who had no other reliable sources and did so in a way that increased the success of applicants’ business ventures. Grameen had the wisdom to recognize that people just want to stand on their feet and do not seek sympathy but genuine assistance. Grameen not only provides funds but also business guidance. In addition, it has a reliable system in place to track progress and ensure reliability.

Grameen’s approach reminds me of a famous quote which implies that giving food to someone only feeds them for a day but teaching them skills feed them for lifetime. I like Grameen’s approach to philanthropy because it results in a permanent solution to the underlying issue and not merely a temporary fix. In addition, it involves all the stakeholders in solving the underlying issues.

Work Cited

Grameen Bank. Introduction. 29 January 2015 <http://www.grameen.com/index.php?option=com_content&task=view&id=16&Itemid=112>.