Reading Reflection No.1 - 13A
Muhammad Yunus / $27 and a dream
What surprised you the most? - Muhammad's faith and belief in the poor being able to learn and manage on their own is something that very few people, especially middle-upper class people believe. He started a business in the form of banking, called Grameen Bank, but with the purpose to help the poor receive credit and get on their feet by teaching them a few financial principles.
What about the entrepreneur do you most admire? - With his smarts and the path he took, Muhammad could have very easily been a wealthy magnate in the United States and set his sights on building wealth. Rather than do this, Muhammad did what I thought was paradoxical; he created a banking system that was actually in favor of the poor. No banking system in the history of the world has ever treated micro-credit as a need and taught financial principles to the poor. They usually exploit ignorance and profit off of it. I really admire that Muhammad has done this for the poor in Bangladesh; it really shows his true colors and he has won several awards including the Nobel Peace Prize because of it.
What about the entrepreneur do you least admire? - There is nothing that I found through reading that I least admire about Muhammad. Maybe there are some things in his personal life that I don't agree with, such as him splitting with his wife simply because she did not want to live in Bangladesh. But that is not an inherently bad thing and does not diminish the respect I have for Muhammad.
Did the entrepreneur encounter adversity/failure? If so, what did they do about it? - There did not appear to be any traumatic experiences that Muhammad experienced in his youth, but Bangladesh, which was once East Pakistan experienced a civil war in 1971. He appeared to be very connected with his nation, evidently through his work on helping the poor villages and moving back after obtaining his graduate degree. He stated in an interview the following: "While I was teaching beautiful economic theories, people were dying" (Muhammad, 1971) and later said that this was a hard reality to accept and he began brainstorming ways to help the poor in his native country. This appeared to be difficult for him to overcome.
2. What competencies did you notice that the entrepreneur exhibited? - Muhammad excelled at most things he did and was very involved since he was a kid. He has a strong work ethic and is a disciplined persona with a desire to help the poor and less fortunate.
3. Identify at least one part of the reading that was confusing to you. - It appeared that he received his bachelor's degree and master's degree in 1960 and 1961 respectively. However, the book also says that he went on to get a graduate degree from Vanderbilt. Which means that he completed two graduate programs, and perhaps the one received from Bangladesh was not accredited.
4. - What are the top 5 most valuable lessons you have learned throughout all your life experiences?
- What advice would you give to a 20-year-old today who appears to do everything and lacks direction?
5. The entrepreneur discussed that he would work rigorously throughout his education and that fighting to end poverty in Bangladesh has been a lifelong journey. Through this statement, it appears that Muhammad praises consistent, hard work in his craft. It has helped the lives of millions in Bangladesh and around the world.
What surprised you the most? - Muhammad's faith and belief in the poor being able to learn and manage on their own is something that very few people, especially middle-upper class people believe. He started a business in the form of banking, called Grameen Bank, but with the purpose to help the poor receive credit and get on their feet by teaching them a few financial principles.
What about the entrepreneur do you most admire? - With his smarts and the path he took, Muhammad could have very easily been a wealthy magnate in the United States and set his sights on building wealth. Rather than do this, Muhammad did what I thought was paradoxical; he created a banking system that was actually in favor of the poor. No banking system in the history of the world has ever treated micro-credit as a need and taught financial principles to the poor. They usually exploit ignorance and profit off of it. I really admire that Muhammad has done this for the poor in Bangladesh; it really shows his true colors and he has won several awards including the Nobel Peace Prize because of it.
What about the entrepreneur do you least admire? - There is nothing that I found through reading that I least admire about Muhammad. Maybe there are some things in his personal life that I don't agree with, such as him splitting with his wife simply because she did not want to live in Bangladesh. But that is not an inherently bad thing and does not diminish the respect I have for Muhammad.
Did the entrepreneur encounter adversity/failure? If so, what did they do about it? - There did not appear to be any traumatic experiences that Muhammad experienced in his youth, but Bangladesh, which was once East Pakistan experienced a civil war in 1971. He appeared to be very connected with his nation, evidently through his work on helping the poor villages and moving back after obtaining his graduate degree. He stated in an interview the following: "While I was teaching beautiful economic theories, people were dying" (Muhammad, 1971) and later said that this was a hard reality to accept and he began brainstorming ways to help the poor in his native country. This appeared to be difficult for him to overcome.
2. What competencies did you notice that the entrepreneur exhibited? - Muhammad excelled at most things he did and was very involved since he was a kid. He has a strong work ethic and is a disciplined persona with a desire to help the poor and less fortunate.
3. Identify at least one part of the reading that was confusing to you. - It appeared that he received his bachelor's degree and master's degree in 1960 and 1961 respectively. However, the book also says that he went on to get a graduate degree from Vanderbilt. Which means that he completed two graduate programs, and perhaps the one received from Bangladesh was not accredited.
4. - What are the top 5 most valuable lessons you have learned throughout all your life experiences?
- What advice would you give to a 20-year-old today who appears to do everything and lacks direction?
5. The entrepreneur discussed that he would work rigorously throughout his education and that fighting to end poverty in Bangladesh has been a lifelong journey. Through this statement, it appears that Muhammad praises consistent, hard work in his craft. It has helped the lives of millions in Bangladesh and around the world.
Jason, first off thank you for choosing someone other than Elon Musk. Secondly, I loved this mans story. He is so inspiring and makes you grateful for the opportunities we have being here at UF. This seems like an interesting read.
ReplyDeleteHello Jason, your reflection gave me a lot of information on Muhammad Yunus that I would not have known since I did not read his autobiography. I think his story was probably the most impressive out of all the entrepreneurs because as you said, he could have pursued wealth and become rich in the U.S.; but instead, he chose to help his community. He sounds like a very admirable man, perhaps I will read his autobiography.
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