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28 of 28 people found the following review helpful
5.0 out of 5 stars The Most Important Management Book Written Since Peter Drucker Defined the Practice of Management
Creating a World Without Poverty should be read by everyone who is concerned about helping the poor and those whose needs are ignored.

If I could give this book one hundred stars, I would; that would still be too few. Books have the potential to advance and create discussions about ideas, concepts, and practices that can reform everything we do in needed...
Published on 31 Jan 2008 by Donald Mitchell

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8 of 8 people found the following review helpful
3.0 out of 5 stars brilliant man, some interesting ideas, not life changing
Muhammad Yunus is obviously a brilliant man and the work he has been involved with in Bangladesh is impressive. I was familiar with his work with Grameen Bank before I read this book but had not read any of his other books.

This book is written in an easy to read style and is mostly Yunus' personal manifesto for ending poverty in the world. I suspect if you...
Published on 21 July 2008 by Joanne


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28 of 28 people found the following review helpful
5.0 out of 5 stars The Most Important Management Book Written Since Peter Drucker Defined the Practice of Management, 31 Jan 2008
By 
Donald Mitchell "Jesus Loves You!" (Thanks for Providing My Reviews over 124,000 Helpful Votes Globally) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (VINE VOICE)   
Creating a World Without Poverty should be read by everyone who is concerned about helping the poor and those whose needs are ignored.

If I could give this book one hundred stars, I would; that would still be too few. Books have the potential to advance and create discussions about ideas, concepts, and practices that can reform everything we do in needed directions. Creating a World Without Poverty is one of the few books I've ever read that fulfills that potential.

Professor Yunus (co-winner with the Grameen Bank of the Nobel Prize for Peace in 2006) has written an extremely thoughtful and thought-provoking work that successfully argues for a new type of organization to serve the unserved among the poor, the social business. A social business seeks to optimize social benefits rather than profits. In defining its purpose, a social business begins by defining a social need that wouldn't otherwise be served. Profits are kept at the minimum level needed to keep the enterprise viable. Ideally, no dividends are paid to owners. The original investors get a return of their capital, and then the organization is purchased by the poor . . . using microcredit from organizations like the Grameen Bank in Bangladesh. The Grameen Bank is a model for such an enterprise, and in the book Professor Yunus describes several other ventures that the Grameen Bank has initiated with partners steeped in expertise related to the needs of the poor.

Professor Yunus describes his experiences in founding the Grameen Bank and the lessons he learned from this work:

1. The poor are very capable of solving problems -- survival needs have honed their skills.

2. Poor people often need very few resources to pull themselves out of poverty. They are used to making do with little and will frugally expand a small farm or business.

3. Many poor people are poor because they are exploited by those who loan them money, provide supplies, and purchase their offerings. By providing inexpensive microcredit, poor people can escape from that exploitation.

4. By helping the whole family make progress, you can lift a family out of poverty permanently through more income, savings, capital, improved living conditions, and education.

5. By focusing on helping poor women, the resources are used most effectively.

6. Poor women are good credit risks.

7. Some needs cannot be met without adding expertise that the poor don't have (such as developing more nutritional, low-cost snacks for youngsters) but which those in profit-making companies often do have.

8. Some leaders of profit-making companies are moved to make a difference for the poor and can assist in establishing new enterprises to solve important problems that plague the poor (blindness, malnutrition, and lack of communications).

9. Creating social businesses uses a lot fewer resources than charity or government initiatives and leads to better results for the poor.

The book goes into some detail in describing the development of the Grameen Bank (which makes small loans -- usually around $100 -- to poor people who lack collateral to qualify for loans at traditional banks) and a recent social business start-up by Groupe Danone and Grameen Bank to provide a nutritional yogurt snack in Bangladesh. There is also a description of plans for a social business venture to provide eye care sponsored by Grameen Bank that is being helped through training at Aravind Eye Hospital in India (you can read about Aravind in The Fortune at the Bottom of the Pyramid).

The book's vision is wider than what I have just described. Professor Yunus has considered how the world might be filled with such social businesses and how they might operate (competitive salaries for employees, engaging poor people as suppliers, distributors, customers, and employees as much as possible, stock markets for the shares in such firms, and ways that more initial capital might be generated by foundations, governments, investors, and for-profit businesses). He has also done some fine thinking about the governance challenges of such enterprises.

I think what he is describing will work. I've seen partial prototypes operating in the United States. In major cities in the United States, some hospitals that serve the poor have added high-profit surgery centers to earn funds to pay for the medical care given to the poor. Aravind charges those who can pay full price for cataract surgery and uses the profits to provide free surgery to poor people. Some companies been left to charities by their founders at death with the dividends of the companies used to help the poor (Hershey had such an origin in helping orphans). But remember that Professor Yunus's model is broader than that . . . the social business should develop a new business model that innovates in serving the poor in new ways, not just subsidize serving the poor in old ways.

I have been writing about continuing business model innovation since 2003 and can assure you that Professor Yunus is on the right track with his prescriptions. In a world where we often make fun of economists, it's nice to know that there's one who can climb down from the ivory tower to appreciate the potential of applied microeconomics to the causes of problems for poor people.

I particularly liked the concept of having poor people be part of the solutions. Poor people know what they need better than anyone else does. Their solutions are going to be the most effective ones.

Lest you think this is all over optimism, Bangladesh has seen the level of poverty in the country transformed by these kinds of changes. The day is not too distant when Bangladesh will know about poverty only through visiting museums that describe what it used to be like. The poverty rate has fallen from 74 percent in 1974-75 to 40 percent in 2005. That's still too high, but it's a huge reduction in only three decades in a country without natural advantages other than the ingenuity and hard work of its people.

It is Professor Yunus's wish that poverty only be seen in museums throughout the world.

He also points out that global environmental problems need to be solved or low-lying Bangladesh will be under water from global warming that melts the polar ice. It's a sobering thought.

Bravo, Professor Yunus!
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8 of 8 people found the following review helpful
3.0 out of 5 stars brilliant man, some interesting ideas, not life changing, 21 July 2008
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Muhammad Yunus is obviously a brilliant man and the work he has been involved with in Bangladesh is impressive. I was familiar with his work with Grameen Bank before I read this book but had not read any of his other books.

This book is written in an easy to read style and is mostly Yunus' personal manifesto for ending poverty in the world. I suspect if you have read his other book then there will be quite a lot of repetition in this one.

The book seems to be mostly based around four themes.

1. The Grameen Bannk and related companies and their success (mainly) as a tool to empower poor women and allow them and their families to escape poverty in Bangladesh.

2. Some ideas for his models of 'social businesses' no-loss, no-dividend which operate with own stock market, investors guaranteed start up money back but no profit, ideally long term ownership by the poor communities served. He emphasises the limitations of profit maximising companies to meet all the needs of humans in terms of our desire to do good.

3. One example of a social business set up between Grameen and Danone.

4. Various other factors on Yunus' wish list of solving world problems and the requirements for international regulation and consensus as well as local 'social forum' solutions.

There are some interesting ideas and Yunus probably has the energy and vision to see some of them realised. I did not find them as ground breaking and life changing as I kind of expected from other reviews I'd read.

The one element that I found very useful was the 'Sixteen Decisions' that Grameen borrowers have to commit to. These 16 factors are used to measure whether a family is poor or not or has moved out of poverty. None of them had specific monetary values but instead included the following:

-We shall grow vegetables all year round. We shall eat plenty of them and sell the surplus.
-We shall build and use pit latrines

Also judging poverty by factors such as if people still slept directly on a mud floor or not.

Worth reading. A little too much repetition. Perhaps a little too idealistic - although his works probably mean I shouldn't say that. Have read better development books. Although perhaps this is more a treatise on the limitations of current economic theory for layman than a development book.
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5 of 5 people found the following review helpful
5.0 out of 5 stars A Visionary, 13 May 2009
By 
Amazon Customer (Dundee, Scotland) - See all my reviews
This review is from: Creating a World Without Poverty: Social Business and the Future of Capitalism (Paperback)
This is an absolutely fantastic book and I can only give it the highest praise. If you are like me fed up to the book teeth with capitalism and what it stands for - read this book. If you want to start your own business and care for the community/village/town/city that you live in - read this book.

You will be surprised what you will learn and it will give you a way of owning a business and still being able to compete against Profit Making Businesses. If only more people would go down the road of the ideas in this book we would be living in a better place right now.
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3 of 3 people found the following review helpful
4.0 out of 5 stars Inspiring book about a better world where poverty only exists in museums, 20 Aug 2010
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This review is from: Creating a World Without Poverty: Social Business and the Future of Capitalism (Paperback)
This is an inspiring book about overcoming poverty through social business.
If you are interested in learning the work of Muhammad Yunus in Bangladesh, the Grameen Group, how Danone and Grameen created a social business that produces a nutritious yoghurt for the poor and how in a capitalist world is possible to fight poverty.

"Poor people are like bonsai trees. You pick the seed of the tallest tree in the forest and take the best seed out of it, and plant it in a flower pot. You get a tiny little tree, we call it a bonsai. Nothing wrong with the seed, you've got the best seed possible. Nothing wrong with the tree, because you actually picked the tallest tree in the forest. But actually it grows this far... why? Because we put them in the flower pot. The base. Society is the base. And society is so stingy it doesn't give the poor people the space to grow.

So I say, change the base! If you change the base, anybody will be as tall as anybody else! My belief is poverty is not caused by poor people. Poverty is caused by the system. Poverty is caused by the policies that we pursue."

Muhammad Yunus
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6 of 7 people found the following review helpful
4.0 out of 5 stars Inspirational, 22 Mar 2008
This is an extremely inspirational book for anyone with a social conscience. It is not just a visionary theory, this is a priciple which is already changing the lives of literally millions of people. This is a system which works. The story which Muhammed Yunis tells of how he has put his knowledge and ideas to use to such amazing effect, is a challenge to all of us to use our God-given talents to change the lives of others rather than finding more and more creative ways to fill our own pockets and spoil ourselves.
The style of the book is positive and hopeful throughout, even when he describes aspects of the business which have not worked out, or which could have been done better.
For anyone who has read the previous book - "Banker To The Poor" you may be a little disapointed that this book, repeats a lot of the content of that book, but it helps to set the context here. There is also very little detail of how the Grameen model of busines works, so you come away wanting to find out more and buzzing with ideas of how it could be applied in other places.
All in all, a highly recommended read.
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5.0 out of 5 stars The Most Important Management Book Written Since Peter Drucker Defined the Practice of Management, 31 Jan 2008
By 
Donald Mitchell "Jesus Loves You!" (Thanks for Providing My Reviews over 124,000 Helpful Votes Globally) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (VINE VOICE)   
Creating a World Without Poverty should be read by everyone who is concerned about helping the poor and those whose needs are ignored.

If I could give this book one hundred stars, I would; that would still be too few. Books have the potential to advance and create discussions about ideas, concepts, and practices that can reform everything we do in needed directions. Creating a World Without Poverty is one of the few books I've ever read that fulfills that potential.

Professor Yunus (co-winner with the Grameen Bank of the Nobel Prize for Peace in 2006) has written an extremely thoughtful and thought-provoking work that successfully argues for a new type of organization to serve the unserved among the poor, the social business. A social business seeks to optimize social benefits rather than profits. In defining its purpose, a social business begins by defining a social need that wouldn't otherwise be served. Profits are kept at the minimum level needed to keep the enterprise viable. Ideally, no dividends are paid to owners. The original investors get a return of their capital, and then the organization is purchased by the poor . . . using microcredit from organizations like the Grameen Bank in Bangladesh. The Grameen Bank is a model for such an enterprise, and in the book Professor Yunus describes several other ventures that the Grameen Bank has initiated with partners steeped in expertise related to the needs of the poor.

Professor Yunus describes his experiences in founding the Grameen Bank and the lessons he learned from this work:

1. The poor are very capable of solving problems -- survival needs have honed their skills.

2. Poor people often need very few resources to pull themselves out of poverty. They are used to making do with little and will frugally expand a small farm or business.

3. Many poor people are poor because they are exploited by those who loan them money, provide supplies, and purchase their offerings. By providing inexpensive microcredit, poor people can escape from that exploitation.

4. By helping the whole family make progress, you can lift a family out of poverty permanently through more income, savings, capital, improved living conditions, and education.

5. By focusing on helping poor women, the resources are used most effectively.

6. Poor women are good credit risks.

7. Some needs cannot be met without adding expertise that the poor don't have (such as developing more nutritional, low-cost snacks for youngsters) but which those in profit-making companies often do have.

8. Some leaders of profit-making companies are moved to make a difference for the poor and can assist in establishing new enterprises to solve important problems that plague the poor (blindness, malnutrition, and lack of communications).

9. Creating social businesses uses a lot fewer resources than charity or government initiatives and leads to better results for the poor.

The book goes into some detail in describing the development of the Grameen Bank (which makes small loans -- usually around $100 -- to poor people who lack collateral to qualify for loans at traditional banks) and a recent social business start-up by Groupe Danone and Grameen Bank to provide a nutritional yogurt snack in Bangladesh. There is also a description of plans for a social business venture to provide eye care sponsored by Grameen Bank that is being helped through training at Aravind Eye Hospital in India (you can read about Aravind in The Fortune at the Bottom of the Pyramid).

The book's vision is wider than what I have just described. Professor Yunus has considered how the world might be filled with such social businesses and how they might operate (competitive salaries for employees, engaging poor people as suppliers, distributors, customers, and employees as much as possible, stock markets for the shares in such firms, and ways that more initial capital might be generated by foundations, governments, investors, and for-profit businesses). He has also done some fine thinking about the governance challenges of such enterprises.

I think what he is describing will work. I've seen partial prototypes operating in the United States. In major cities in the United States, some hospitals that serve the poor have added high-profit surgery centers to earn funds to pay for the medical care given to the poor. Aravind charges those who can pay full price for cataract surgery and uses the profits to provide free surgery to poor people. Some companies been left to charities by their founders at death with the dividends of the companies used to help the poor (Hershey had such an origin in helping orphans). But remember that Professor Yunus's model is broader than that . . . the social business should develop a new business model that innovates in serving the poor in new ways, not just subsidize serving the poor in old ways.

I have been writing about continuing business model innovation since 2003 and can assure you that Professor Yunus is on the right track with his prescriptions. In a world where we often make fun of economists, it's nice to know that there's one who can climb down from the ivory tower to appreciate the potential of applied microeconomics to the causes of problems for poor people.

I particularly liked the concept of having poor people be part of the solutions. Poor people know what they need better than anyone else does. Their solutions are going to be the most effective ones.

Lest you think this is all over optimism, Bangladesh has seen the level of poverty in the country transformed by these kinds of changes. The day is not too distant when Bangladesh will know about poverty only through visiting museums that describe what it used to be like. The poverty rate has fallen from 74 percent in 1974-75 to 40 percent in 2005. That's still too high, but it's a huge reduction in only three decades in a country without natural advantages other than the ingenuity and hard work of its people.

It is Professor Yunus's wish that poverty only be seen in museums throughout the world.

He also points out that global environmental problems need to be solved or low-lying Bangladesh will be under water from global warming that melts the polar ice. It's a sobering thought.

Bravo, Professor Yunus!
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1 of 1 people found the following review helpful
5.0 out of 5 stars Inspiring, 23 Oct 2011
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This review is from: Creating a World Without Poverty: Social Business and the Future of Capitalism (Paperback)
OK, so his insistence on "I" can be a little wearing; but inspiring stuff on "social business" nonetheless.

Yunus helped create the Grameen Bank and thus pioneered micro-lending. But this book is about expanding and generalising that idea to business more generally.
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5.0 out of 5 stars Nothing to complain about, 26 Oct 2011
This review is from: Creating a World Without Poverty: Social Business and the Future of Capitalism (Paperback)
Everything was as expected. The book came within the promised time-frame, and the book was in mint condition. So generally just as I could wish for.
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4.0 out of 5 stars Convincing and important, 5 Dec 2010
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This review is from: Creating a World Without Poverty: Social Business and the Future of Capitalism (Paperback)
A very interesting and moving account of his work in alleviating poverty principally through microcredit.
It was well written and interesting though I would have liked him to answer some of the criticisms that people have made of just effective his work has been.
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2 of 3 people found the following review helpful
5.0 out of 5 stars Thought-provoking proposal, 18 Mar 2008
By 
Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
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In this excellent, provocative book, Nobel Peace Prize winner Muhammad Yunus sets forth his vision for a new kind of enterprise, social business, managed according to businesslike principles but with the uncapitalistic objective of social benefit. This is no untried, pie-in-the-sky proposal. Yunus pioneered this business model when he founded the world-famous microcredit financial institution, Grameen Bank. More recently, working with France's Groupe Danone, he set up a business to produce and market fortified yogurt in Bangladesh. This book tells the story of the author's involvement in social businesses and offers stimulating suggestions for their future evolution. getAbstract recommends it to forward-thinking business leaders and entrepreneurs who want their projects to benefit not just themselves but their societies at large.
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