Cause For Fast Food Popularity

The Author Speaks In Business for All Interview with Muhammad Yunus, author of  twist Social Business: The New Kind of capitalist economy That Serves Humanitys most(prenominal) Pressing Needs by: Art Dalglish | from: AARP Bulletin | July 29, 2010 It every started with a gift of $27. In 1974, Muhammad Yunus was an sparingals professor atChittagong University in Bangladesh when a combination of war, natural disasters and an international oil crisis toppled his country into a devastating famine. How could he simply teach elegant theories of the emancipate food market, he thought, while hunger and poverty threatened the lives of millions? Venturing into the countryside to institute with societal programs, he found a woman in the hamlet of Jobra who was borrowing from a local moneylender to pay her tiny business handcrafting bamboo stools. But she could borrow only at a very high interest rate and by agreeing to sell her work to the lender at a detriment he set, leaving her with almost no profit. Yunus and his students found a total of 42 villagers trapped in the same adorable of arrangement. He realized that he could release all of them from their economic bondage by reaching into his pocket for the equivalent of $27 and paying off all their loans.

Inspired by this example, Yunus created Grameen sass to stool low-interest loans to the poorest of the poor, people with no collateral or intuition history. Today it serves more than 8 million people-97 percent of them women-in every(prenominal) village in Bangladesh, extending more than $100 million a month in loans a veraging about $200. Grameen is also helping! to diffuse the composition known as microcredit throughout the world-and in 2006, Yunus and the posit were awarded the Nobel placidity Prize for their accomplishments. Seeking new ways for the magnate of the market to help the poor, Yunus landed on the concept of social businesses. These companies lock away like any other, competing in the marketplace to make a profit, with two big exceptions: The investors agree not...If you want to impart a full essay, order it on our website: BestEssayCheap.com

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