Challenging the Vision: Grameen Bank
1. Introduction
Grameen Bank, founded in 1974 by Peace Nobel Prize 2006 winner Mohammad Yunus, has been heralded as an effective way in which business can help eradicate poverty by challenging established beliefs and assumptions in the lending process to people without resources. Mr. Yunus's vision has been groundbreaking in terms of providing a link between usual business approaches and procedures and international development-related work. He has succeeded on creating a quite compelling vision for the whole Grameen Group by reinstating what should be fundamental in every business transaction conducted globally: the human being. Additionally, he has recognized the importance of credit in breaking the poverty cycle.
However, it should be taken into account that even the most compelling "stories" that drive organizations, such as the one behind Grameen Bank, require challenging and loyal opposition to remain vital and updated . An increasingly uncertain and complex business environment forces companies to revise the vision and story behind the organization to adapt quickly to the changes that surround it.
The following paper reviews Mr. Yunus's leadership "story" from three points of view (community involvement, globalization, and complexity) and incorporates key assumptions from these sets of perspectives to conclude on a new and revised vision for Grameen.
2. Mohammad Yunus's Leadership "Story"
2.1. Grameen Bank's history
To understand better the mission and vision of the company and how to challenge it (if necessary), it is necessary to understand the background of the company since its foundation. Hence, the following lines will summarize the key points of the Bank's history.
Grameen Bank ...