Elina Lammintausta, elina.lammintausta@aalto.fi Hyunjin Kim, hyunjina.kim@gmail.com Inka Vettenranta, inka.vettenranta@gmail.com Jutta Leivonen, jutta.s.leivonen@aalto.fi Maud Bocquillod, maud.bocquillod@aalto.

fi Tushar Malhotra, tushar.malhotra@aalto.fi Eero Hintsanen, eero@chaoeero.com

contents
Introduction Design Thinking in Social Entrepreneurship TOMS Finding the need Building success Design Thinking at TOMS: What makes TOMS work? Give the whole package Have simple ideas for maximum impact Get people in motion Grameen Bank The making of a movement Grameen today & the journey so far Numbers & Impact Design Thinking at Grameen: What makes Grameen work? Have the courage to challenge the assumptions. Believe. Persist. Know thy customer. Empathize. Experiment. Generate. Rethink. Refine. Iterate. Partners in crime! Empower & motivate your employees. Collaborate. Work together for a better tomorrow Conclusion: Towards a better future through sustainable social businesses Measuring success References

Introduction

Design Thinking

Case Company

Conclusion

To define people by their conditions rather than their abilities is dehumanizing. When you look past the poverty, you see abilities, resources, and desires. The poor are extremely hard-working and entrepreneurial they must be just to survive. They dont want or need to be rescued. They want an opportunity to create a better life for their families.

Kickstart

The base of the pyramid (BoP) consists of 4 billion people living under $1 per day. It is the largest and poorest socio-economic group in the world. The largely untapped BoP market not only presents a great opportunity for growth and profit, but also a possibility for contributing to the humankind. (1) In the recent years, the concept of building profitable businesses where doing good and creating social value is the primary goal, and not just a philanthropic sideline, has been gaining ground. In fact some states in the U.S. gave even instituted a legal term for it - L3C or low profit limited liability company to bridge the gap between the not-for-profit and for-profit investing and improve the viability of social ventures. Examples of L3C entities can be found in carbon trading, food processing, social services, and job creation programs.

Introduction

Design Thinking

Case Company

Conclusion

http://venturepragmatist.com/tag/social-entrepreneurship/ 6.10.2011

The term social entrepreneurship refers to this rapidly growing breed of organizations that have created models for efficiently catering to basic human needs, which the existing markets and institutions have failed to satisfy. It combines the business practices of traditional entrepreneurship with a mission to change the society or even the world. (2) The purpose of social entrepreneurship is to create social capital and a strong positive impact on communities. This is, more often than not, achieved by bringing innovation to the worlds most complex and wicked problems including health care, poverty, clean water, and sanitation. Many of these challenges are particularly pressing in the developing world, also referred to as the BoP markets. This report analyzes social entrepreneurship from the viewpoint of design thinking. How can making a difference and improving the world be combined with business? Design thinking gives new ways to find compelling and elegant solutions. With the help of case studies of two organizations: TOMS and Grameen Bank, the authors aim to find common patterns in how new ways of thinking can create novel business models, and whether the design thinking approach is being used as an important factor in the success of social entrepreneurship. TOMS and Grameen Bank were chosen because of the authors personal interest and contexts. Two cases, instead of one were selected since we wanted to analyze and draw parallels, if possible, between the underlying philosophies and methods of two successful organizations doing social good but through totally different business models - one, a company selling goods to regular customers and indirectly benefiting the poor and the other, an institution working directly with the poor people as its customers and focusing on services. This study will also attempt to apply and validate the design thinking framework proposed by Prof. Peter McGrory in context of the two organizations. This framework treats design thinking as both a mind-set as well as a methodology that incorporates and integrates an empathetic, holistic, synergistic, generative, collaborative and effectual approach to innovation processes and practices. In the light of the cases studied, we will attempt to identify these characteristics and see whether there are additional ones that should be incorporated in the framework.

Introduction

Design Thinking

Case Company

Conclusion

Design Thinking in Social Entrepreneurship

According to Tim Brown (2009), design thinking deals with viability, desirability and feasibility. However, when it comes to design thinking in social entrepreneurship, he highlights three words (3): HEAR, CREATE and DELIVER. According to Brown, the primary purpose of social entrepreneurship is to hear people in order to help them. Innovation is not to create a need but rather to answer to a fundamental need. Our case companies are good examples of this as will be explained later in the paper.

Introduction

Design Thinking

Case Company

Conclusion

Seek inspiration in new places

Identify a design challenge

Develop an

interview

Identify people
Community-Driven Discovery

The purpose of the first part of social entrepreneurship, hearing, is to deeply understand peoples needs, the constraints and the barriers by listening stories and observing the reality.

Qualitative research methods enable the design team to develop deep empathy for the people they are designing for, to question assumptions, and to inspire new solutions. At the early stages of the process, research is generative used to inspire imagination and inform intuition about new opportunities and ideas. In later phases, these methods can be evaluativeused to learn quickly about peoples response to ideas and proposed solutions. (3)
The different steps are identifying a design challenge, recognizing an existing challenge, identifying people to speak with, choosing research methods (e.g. individual or group interview, immersion, self-documentation, community-driven discovery, and expert interviews), developing an interview approach (interview guide, sacrificial concepts, interview techniques), and finally developing a mindset by confronting observations and interpretation.

Self-Documentation

Observe and Interpret Develop your mindset Expert Interviews Recognize existing challenge
Immersion

Hear

approach

Introduction

Design Thinking

Case Company

Conclusion

After having information gathered, the purpose is to create solutions, opportunities and prototypes. At first, the goals of this phase must be clearly defined: understanding the data, identifying the patterns, and defining the opportunities. The first phase is supposed to take the team from observations to strategic directions by brainstorming, prototyping and getting feedback. The prototyping phase reveals the constraints that were not noticed during the brainstorming phase. Then the feedback enables the designers to make more appropriate solutions for the consumer.

Creating solutions through empathy is a way for the design team to blend their expertise with the on-the-ground needs of people... By understanding people deeply, empathic design can lead to both appropriate and more breakthrough solutions. But this method challenges the design team not just to understand the problem mentally, but also to start creating solutions from a connection to deep thoughts and feelings. (3)
This emphasizes the fact that design thinking is not only an analytic way of designing but also an intuitive one. The second phase, create, can then lead to several solutions designed in collaboration with the customers.

Introduction

Design Thinking

Case Company

Conclusion

Track Indicators

Implementation Timeline

Capabilities required

Pipeline of solutions

Deliver
Iteration

Develop sustainable revenue model

Evaluate Outcomes

Learning Plan

The last phase, deliver, is the implementation of the solutions developed in the create phase. The purpose is to develop a sustainable model to measure impact and identify the required capabilities: develop an innovation pipeline by planning pilots.

Delivering solutions that are new to the world involves creating low-investment, low-cost ways of trying out your ideas in a real-world context. (3)
The different prototypes and feedback will be used in the last phase in order to create an implementation and learning plan. The team must focus on the sustainability of the project as a long-term vision differs from a short-term vision in terms of development. Having clear goals (long-term or not, geographic focus) is definitely necessary to develop viable, feasible and above all desirable ideas.

Introduction

Design Thinking

Case Company

Conclusion

Picture of HCD Deliver p18

By encouraging on-going measurement, evaluation, and iteration, the solutions developed stay grounded in real-world impact and continue to evolve. (3)

measurement, evaluation, and iteration, the solutions developed stay grounded in real-world impact and continue to evolve.
Human Centered Design Toolkit

By encouraging on-going

Giving is what fuels us.

Giving is our future. Its the core of our business and its time we celebrate it.
BLAKE MYCOSKIE Founder and CHIEF SHOE GIVER

Introduction

Design Thinking

Case Company

Conclusion

Alex is 10 and lives in Zambia. In his community, 70% of children are like Alex, infected by disease transmitted from the ground because they do not have the money for shoes. With a pair of shoes the disease in Alexs feet will heal and he will be able to return to school. (4)

Introduction

Design Thinking

Case Company

Conclusion

Setilda, aged 15, lives in Malawi where she has to walk a mile to get to school. Because her family lives in extreme poverty, she has never owned a new pair of shoes, though she knows they are vital for keeping her healthy. (4)

Introduction

Design Thinking

Case Company

Conclusion

Finding the need When Blake Mycoskie, the founder of TOMS, visited Argentina he was struck by the extreme poverty and health conditions the people were living in. What also alarmed him was how many of the children did not have shoes. This is when he came up with a vision around which he would later build his company: To provide shoes for all the children. (5) In 2006, Mycoskie founded his shoe company TOMS, a company that was committed to its vision even down to its name: TOMS is an abbreviation of the word tomorrow in the companys original name Shoes for a better tomorrow. Though the business model behind his company was to be based on charity, giving shoes to those in need, he realized that a not-for-profit organization would not be able to support his purpose financially. The need for guaranteed finances for Mycoskies charitable purpose gave birth to the One for One principle which is the core of TOMSs business. The concept itself is simple: for every pair of shoes purchased, TOMS gives another pair to a child in need. (6) The TOMS business concept is a new and innovative approach to helping communities in need. Instead of providing medicine or simply giving money, Mycoskie wanted to give something that would have a direct impact on the childrens quality of life. Shoes protect children from diseases transmitted from the ground, they offer them a chance to attend school and they protect them in the rough conditions they live in. (4) The TOMS concept is about solving underlying issues, in other words not trying to fix an existing disease with medicine (which is also important) but asking the question, why is there this disease in the first place and trying to solve that. For the children, owning shoes also has enormous mental and social value. As explained by Dr. Larry L. Thomas: Shoes are a status symbol [in Ethiopia]. Children dream of having their first pair (4) The giving process is made possible by a network of partners, humanitarian organizations operating in the target countries, such as World Vision and Goods for Good that helped the communities of Alex and Setilda. By using the partner organizations, TOMS has become a part of a larger humanitarian operation as the shoes are given in addition to other health and educational programs. (4) The giving process begins with establishing a partnership with a humanitarian and health organization that is committed to the communities for years as the children grow up. (7) Using the expertise of the giving partners, TOMS identifies the communities most in need of shoes due to economic, health and educational needs and where local businesses will not be negatively affected (4). By September 2010, 1,000,000 TOMS shoes were given in 23 countries around the world, mainly in South America and Africa.

Introduction

Design Thinking

Case Company

Conclusion

Building success According to Mycoskie, much of the companys success and its visibility is thanks to its One for One concept. It enabled the company to enter the market and sustain a competitive advantage in relation to both other shoe companies and charity organizations. (8) However, without a good product to sell, the company would not have survived solely on its good intentions. Mycoskies model is an example of how to make social entrepreneurship successful. He understood how the consumers make purchase decisions and what would appeal to them. (9) With the current economic downturn people are becoming more concerned with their spending while at the same time they are increasingly interested in doing good for the community. (10) Social responsible companies are able to tap into this trend by providing added value to the consumers by buying their products. By incorporating charity into its organizational strategy, TOMS takes its business concept further compared to other companies that are solely for-profit. The company is also sustainable, meaning that it has been able to continue the business as it was when it was created. (8)

If you take the option of starting a for-profit business that gives back a large part of what it brings in versus a straight charity, youre going to help a lot more people with the for-profit business - Mycoskie (Qtd. in (9))
An important aspect is also to get the companys employees involved and committed to the work they are doing. For TOMS this means creating a company culture in which all employees, even down to the people producing the shoes, are aware and proud of the impact their work has on peoples lives. (8); (9) Finally, in order to attract the targeted customers there should be a story behind the company and its products that their customer can relate to. (9) In the case of TOMS, the story is such an emotional one and therefore may be a reason enough for some to buy the product. (8)

Introduction

Design Thinking

Case Company

Conclusion

The model of TOMS shoes is based on the traditional footwear used in Argentina The Alpargata, which Mycoskie redesigned for the western market. (6) The most important features of the shoes are that they are comfortable, inexpensive, and made from ecological materials. Still, if the aesthetics of the shoe had not been in fashion at the time, Mycoskie feels the company would not have succeeded.

I think that if the style had not been right and right for the times and right for the economy, I don't think the one-for-one model would work with just any old shoebut I do think that the one-for-one model ultimately will be good for the long-term success of TOMS. (8)
For the design of the product, Mycoskie had to establish partnerships with people experienced in making shoes, as he himself was not qualified for it. Materials and production processes are critical in attracting environmentally conscious customer segments. Due to the qualified employees, TOMS was able to develop its product to not only be environmentally friendly but even vegan. (8) As TOMS business is based on its socially responsible work, the company wants to make its production processes transparent and open to its customers. The company is in the process of opening a new website which would enable customers to connect directly with TOMSs factories in South America, Asia and Africa, and their workers. (8) The business model has been given a new meaning as the company has expanded its product portfolio: from a shoe company to a One for One company. In July 2011, Mycoskie introduced TOMS sunglasses as a new One for One product which will tackle the issue of visual impairment in developing countries. (11) With its sunglasses project, TOMS has teamed up with Seva Foundation to offer medical treatment and proper eyeglasses for those with sight-threatening conditions (12). With every pair of TOMS sunglasses purchased the company guarantees eye treatment for a person in poor conditions. The business model of TOMS was created out of need. Though the model is simple to operate, Mycoskie claims that it would be hard to implement in established businesses as it means redesigning all business operations around helping (8). The One for One concept is a primary reason why the company has been able to compete in the market with its products. Still Mycoskie does not feel that companies copying his business model would propose a threat to TOMS; in fact he hopes the model would be adopted by others in new and innovative ways. (8)

Introduction

Design Thinking

Case Company

Conclusion

Design Thinking at TOMS: What makes TOMS work?

Give the whole package Holistic means paying equal attention to all aspects of a matter rather than treating them separately or, in other words, being concerned with wholes or complete systems. Design thinking can be seen as holistic in two ways: it offers an integrated way of thinking and when designing the companys offerings, it not only attempts to answer a specific customer need but also aims at providing a comprehensive customer experience. Design thinking offers a holistic approach to problem solving, as it is not limited to one way of analyzing a problem or one kind of knowledge. It combines the expertise of different schools of thought, from design and technology perspectives to business. By combining all actors, holistic design thinking can avoid producing solutions that are biased towards, say, a business point of view and create results that take into account the whole problem from even conflicting perspectives.

Good design is the result of an unusual mix of two very different ways of thinking that must work together to a common end; reductive approaches (to define a problem) and holistic approaches (to solve - or redefine - the problem by considering every aspect). The combination is a powerful synthesis which relies on a balance between competing forces. (13)
The goal in design thinking is to offer complete solutions by not focusing on single problems but trying to understand the whole picture, the connections between problems, and the underlying reasons for them. The purpose is not to provide a disconnected offering but to understand the greater impact of the product or service provided. (14) To achieve this, a consumer driven approach is essential, as the end user can provide insight in to the use of a product or service and the underlying problems it attempts to address.

Introduction

Design Thinking

Case Company

Conclusion

The business concept of TOMS was to fight poverty and health issues in developing countries. From the global issue, Mycoskie narrowed down the focus group to children, and through the understanding of their living conditions, he was able to choose a product that would have an actual impact on their standard of living. Understanding the conditions in which people live was essential for creating a business around it.

Having shoes helps someone with their personal security and understanding. It gives them self-worth. It shows that they're valued. It's almost a sense of wealth in these communities. It almost becomes a passport into other things that are very important. School, for instance, is probably the easiest example. A lot of kids cannot go to school unless they have a proper uniform, and a proper uniform includes shoes. In addition to education, shoes are critical for the children for doing their daily chores, such as collecting water for the family, in the rough conditions they live in. Finally, by simply wearing shoes children are able to prevent many diseases. Mycoskie
Though the product itself is a simple solution, it is a key to many problems in poor communities. Understanding not only the physical impacts but also the emotional and social benefits of having shoes means that TOMS is able to offer a holistic solution to the people it serves. Through its vision and way of doing business TOMS has been able to transfer its ideology to its customers. A key to a holistic consumer experience is to go beyond offering a product or service to a consumer to offering meaning. By involving consumers in the TOMS experience the company has been able to spread across the globe by relying on the social media. Unlike previous generations, Generation-Y consumers have grown up in a world where information sharing is instantaneous and consumers themselves are increasingly in charge of how and what they consume. A growing trend among this new breed of consumers, is that buying products and services is not enough for them: they want to be involved; they want to be informed of how the company operates and what its motives are. (15) Ferenstein describes TOMSs business as a three pillar strategy: charity, participation and individuality. (10) Through their One for One concept, TOMS appeals to its customers need to do good for others. As this strategy is key to the whole business model, it eliminates the notion that business and charity are mutually exclusive. The idea of adding a charity aspect to everyday consumer products, such as Gaps (Product) RED campaign, is not new, however TOMS takes this further by not only giving money to those in need but actually designing its entire operation around giving. According to Ferenstein, Generation-Y consumers are also intent on getting actively involved. (10) To address this need TOMS organizes events to get their customers to take part in its vision. In 2011 TOMSs annual One Day without Shoes movement gathered participants to over 1,000 events in 25 countries around the world. Campuses around the US are also creating TOMS Campus Clubs to spread the One for One concept in their schools. The key behind the movements is that they are not executed by the company but voluntarily by its customers.

Introduction

Design Thinking

Case Company

Conclusion

The final pillar of the TOMS strategy is individuality. TOMS has taken consumer involvement also to the product design level. The company encourages its customers to host their own Style your Sole parties in which they can raise awareness for the One for One concept while decorating their own TOMS shoes. The success of TOMS is strongly based on its ability to offer unique value to both of its consumer groups, people buying the shoes for themselves and the poor children having them as a gift. The vision of the company, to provide shoes for all children in need, is incorporated in all aspects of its business and thus translates to the end user of its products as well. As described before, design thinking is a holistic approach to problem solving, as it does not rely on one single way of answering a question but involves everyone, including the end-user. This synergistic quality of design thinking can be described as integrative thinking. According to Tim Brown, integrative thinking means that when solving problems, we do not simply use an analytical approach but try to consider all the sides related to the problem, even if they are contradictory to each other. Through this approach the aim is to create a solution that is dramatically different and better than existing alternatives. (qtd. in (16)) TOMS represents an innovative approach to a problem that many organizations have been attempting to solve for a long time. Mycoskie was able to look at the problem from an angle that has not been explored before to this extent. He also realized that a charity organization was not going to work, as it would not produce enough profit to keep providing shoes for growing children (Mycoskie). Because of this Mycoskie needed to create a viable business model to support his idea. According to Simon Mainwaring what drove TOM's success is not the "how"--the giving away of shoes--but the "why" behind it. For consumers, the reason or motivation behind a business creates an emotional reaction, which enables them to feel a connection with the company. This was proven when Sketchers launched its BOBS concept, an exact copy of TOMS One for One concept down to its name, and created an upheaval among consumers in the social media. (17) The TOMS One for One concept can be seen as a platform on which the company can expand its operations. With the increasing visibility of its concept, it is hard to replicate, offering TOMS a competitive advantage, both in relation to other charities and to companies offering similar products to consumers. One example where TOMS has utilized the One for One platform is the eyewear line. In this case, however, One for One means more than just giving eyeglasses. While prescription eyeglasses are a part of the holistic eye care that TOMS supports, depending on the specific case at hand TOMS also provides medical treatment including, if needed, sight saving surgery.

Introduction

Design Thinking

Case Company

Conclusion

Have simple ideas for maximum impact TOMS has been able to give over 150,000 pairs of shoes over the past three years because of the simplicity of the One for One movement. This company was not built on a complicated formula, or a tediously planned business strategy. Rather, TOMS was built on the simple ideas of giving, change, and striving for a better tomorrow. TOMS has provided a simple yet powerful way for all types of people to provide for children in need and to educate others. It's as easy as wearing their TOMS and sharing the story. Interestingly, TOMS charitable business model also proved to be recession-proof during the recent downturn While most businesses in the industry sacked people and cut down expenses, TOMS was still hiring.

When 90% of people when given a choice between two otherwise similar brands will choose the one that supports a cause, we have the leverage we need to change the fundamental nature of capitalism - Ryan Scott, CEO of Causecast, a leading cause-integrated marketing firm. Ultimately, Im trying to create something thats going to be here long after Im gone - Mycoskie.
The One for One business model is remarkable since unlike a straight charity, its sustainable. This was Mycoskies plan from the beginning. I started TOMS with about a half a million dollars of my own capital he says. If I wouldve taken half a million dollars and just bought shoes to give to the kids, I wouldve been able to give the shoes once. It never wouldve been as far-reaching and sustainable as TOMS Shoes is now.

Introduction

Design Thinking

Case Company

Conclusion

Get people in motion

A dream you dream alone is only a dream. A dream you dream together is reality. TOMS campus clubs
According to Brown (18) empathy is to connect people at a fundamental level. He claims that it is probably the most important distinction between academic thinking and design theory. Brown states that the purpose of design thinking is to translate observations into insights and insights into products and services that are to enhance the life quality. TOMS business strategy clearly has empathetic features. The whole idea of TOMS started from the willingness to help. By giving shoes to those who are in the greatest need of a pair, TOMS improves childrens health and access to education. And by buying new shoes, a consumer makes a choice that improves the life quality somewhere else. Giving and doing good is incorporated in TOMSs business idea. The companys One for One movement allows people to fulfill their own needs and at the same time do something good. As ethical companies are increasingly appreciated today, this combination of consuming and giving is brilliant. It allows people to shop without bad consciousness and makes the concept of giving easy for the consumers. As peoples awareness of ethical issues and willingness to help have increased during the recent years, TOMS as a company seems appealing to many people. TOMS has taken advantage of this phenomenon by collaboration. Oxford English Dictionary defines the term collaborative as: Characterized by, based upon, or produced in collaboration; co-operative. Examples of TOMS collaboration efforts are the Campus Clubs and One Day without Shoes movements. These events are spreading the message of conscious consumerism and this way promoting the TOMS business idea of helping while being profitable. By collaborating with its consumers the company is making TOMS not just a product but a way of living.

Collaboration can also be found in the business process of TOMS. The companys Giving Partners have profound experience and a long-term presence in the areas and communities they serve. Giving Partners help TOMS to identify the communities that are in need of shoes, they order the sizes that the children in these communities need, and once a community is identified, TOMS guarantee that these children will have shoes also in the future when they grow. While incorporating TOMS in their health and education programs the companies are also of critical value to TOMS as they provide feedback and help the company to improve its business.

Introduction

Design Thinking

Case Company

Conclusion

The making of a movement It is 1974. Bangladesh is in the grip of a devastating famine. In Jobra Village in Chittagong district, it is just another day in the life of Sufiya Begum, a 21 year old mother of three, who is busy squatting at the floor of her hut crafting bamboo stools. At the end of the day, she'll sell these stools back to the money lender to repay the loan of 5 Takas (22 cents), earning a meager 50 paisa (2 cents) for her day's work - an amount just enough to prevent her family from dying of hunger. In the village, most households have a similar tale to tell. Because they are poor, no Bank or Financial Institution would lend them money. Their livelihoods depend on the local money lenders who exploit them by either charging insanely high interest rates (10% per week or, sometimes, even per day) or buying back the produce for a very cheap amount, ensuring that these people never escape their clutches and, thus, the vicious circle of poverty. Nearby, Muhammad Yunus, a professor of economics at the Chittagong University is trying to understand why people remain poor. He visits Sufiya Begum and is pained to learn that her family lives in a state of abject poverty for the want of just 5 takas. On researching further with the help of his students, he discovers that the total amount of loans borrowed by the 42 families in the village from the local money lenders is only about 27 dollars! And yet, because of the exploitive nature of the lending arrangement, these families will never be able to pay back this small amount. These families were illiterate but hard working and skilled. Yet, they remained poor because adequate financial structures were not available to help them break the cycle of poverty. Prof. Yunus decides to lend 27 dollars to these families in the village as a loan on humane terms, without any interest and the borrowers could pay him back the amount whenever they were ready to. However, quickly after this reactive, emotional gesture, he realizes that it wasn't going to be sufficient. What was really needed was a scalable, institutional solution and not a personal, emotional one. Thus was born the idea of Grameen! Over the next couple of years, Prof. Yunus ran from pillar to post trying to convince the conventional banks to lend to the poor, even going to the extent of being a personal guarantor for the borrowers. Finally, in 1977, fed up with the bureaucracy, inflexibility and unimaginativeness of the existing banking system, he founded Grameen - a bank exclusively for the poor! (19)

Introduction

Design Thinking

Case Company

Conclusion

Grameen today & the journey so far Numbers & Impact From the humble beginnings, starting with Prof. Yunus personal loan of USD 27 to 42 families in the Jobra village, Grameen has come a long way - helping millions of people raise themselves and their families out of poverty along the journey. As the graphs depict, Grameen has witnessed tremendous growth since it was founded, disbursing micro loans to more than 8 million poor borrowers, more than 95% of them women, in more than 81000 villages through more than 2500 branches. Since inception, the bank has disbursed approximately USD 11.11 billion in loans (including housing loans) out of which USD 9.88 bn has been repaid. The recovery rate for the loans hovers around a very respectable - 98%. Since 1998, 100% of the loans have been financed from banks own deposits and funds without any external donor aid. A major portion of those deposits can, in fact, be attributed to the borrowers themselves, who are also the majority (more than 90%) stakeholders in the bank. What is perhaps even more remarkable is the fact that the bank has remained profitable throughout its history except in the famine years of 1983, 1991 & 1992. Net profit in 2010 was 10.75 M USD [Numbers as of 2010 - (20)]. These numbers validate categorically both the success of the Grameen model of micro-credit and its innovative operational practices (discussed later) as well as the premise that poor people can not only be credit worthy but also enterprising and innovative, given the right financial support. No wonder that Grameen Bank has pioneered micro-credit, as it is known today, as a powerful and widely accepted and used financial instrument in the fight against poverty. Since its inception, Grameen has inspired (and supported) micro-finance movements and institutions in numerous other countries in both the developing and the developed world.

Introduction

Design Thinking

Case Company

Conclusion

Grameen has also diversified from banking into other areas of socio-economic development and today comprises of more than two dozen enterprises under the Grameen umbrella. This includes low cost housing, technology solutions (Grameen Phone), energy, education etc. The common thread that runs across all these endeavors, however, continues to be the relentless focus on serving the poor and helping them help themselves not through charity but by making them self-reliant and partners in their own development. Grameen is truly an institution Of the poor, for the poor, by the poor!

It is estimated that the average household income of Grameen Bank members is about 50 percent higher than the target group in the control village, and 25 percent higher than the target group non-members in Grameen Bank villages. The landless have benefited most, followed by marginal landowners. This has resulted in a sharp reduction in the number of Grameen Bank members living below the poverty line, 20 percent compared to 56 percent for comparable non-Grameen Bank members. There has also been a shift from agricultural wage labor (considered to be socially inferior) to self-employment in petty trading. Such a shift in occupational patterns has an indirect positive effect on the employment and wages of other agricultural waged laborers. What started as an innovative local initiative, "a small bubble of hope", has thus grown to the point where it has made an impact on poverty alleviation at the national level. (21)
That in 2006, the Nobel Peace Prize was awarded jointly to Prof. Yunus and Grameen (the first ever Nobel Prize awarded to a profit-making organization) would not have come as a surprise to anyone.

Introduction

Design Thinking

Case Company

Conclusion

What makes Grameen work?

Have the courage to challenge the assumptions. Believe. Persist. Even at a first glance Grameens modus-operandi would seem like a complete antithesis to the conventional model of banking and finance. This, however, is not by accident but by design. In a nut shell, Grameen Bank works by turning the traditional model of banking on its head in innovative and effective ways challenging its underlying assumptions and methodologies. Traditional banks and financial institutions marginalize and neglect the poor and do not consider them eligible enough to be their customers. They are deemed to be unworthy of credit. Except in their CSR activities and charity work, these institutions would have nothing to do with the poor. Prof. Yunus challenged this fundamental assumption. He was appalled at the fact that the conventional banks and financial institutions alienated those who needed their services the most and instead served the rich. He was convinced that given a chance the poor would not only prove themselves as credit-worthy but also could be entrepreneurial and enterprising. It is this basic belief that is at the core of Grameen and allows it to view banking and credit services from a fresh, innovative and much more humane perspective. Quoting from Grameens own site:

Grameen Bank starts with the belief that credit should be accepted as a human right, and builds a system where one who does not possess anything gets the highest priority in getting a loan. Grameen methodology is not based on assessing the material possession of a person; it is based on the potential of a person. Grameen believes that all human beings, including the poorest, are endowed with endless potential
Prof. Yunus, in the initial years of Grameen, was remarkably resolute and persistent in his quest to prove his belief in the concept of microfinance as a tool to fight poverty. He kept trying to persuade the banks to support his cause by doing pilot after pilot in numerous villages and meticulously producing numbers and analyses to prove that the model actually worked. When the response from the banks and other conventional financial institutions continued to be lukewarm, Prof. Yunus, instead of giving up, decided to plunge himself into the fray and start an institution himself. (19) Luckily, Grameen, the institution he ended up creating, inherited the values of having the courage to test and challenge popular established assumptions and being persistent in the face of surprises and difficulties and these have helped the bank and the movement, survive and grow despite all odds.

Introduction

Design Thinking

Case Company

Conclusion

Know thy customer. Empathize. First principle of Grameen banking is that the clients should not go to the bank, it is the bank which should go to the people instead. Grameen Bank's 22,140 staff meets 8.35 million borrowers at their door-step in 81,379 villages spread out all over Bangladesh, every week, and deliver bank's service. Repayment of Grameen loans is also made very easy by splitting the loan amount in tiny weekly installments. Doing business this way means a lot of work for the bank, but it is a lot convenient for the borrowers.

Introduction

Design Thinking

Case Company

Conclusion

Out in the field The Bicycle Bankers At the center of Grameens business model are its customers, who have a unique and, arguably, rather difficult socio-economic profile. A vast majority of them live on less than a dollar a day. Alcoholism is rampant among the men and in a lot of cases, the responsibility of looking after the day to day needs of the family falls with the womenfolk. Illiteracy prevails (though theres a desire among most families to educate the children, given they can afford it), sanitation and hygiene problems lead to frequent outbreaks of infectious diseases and the largely agrarian population often has to bear the brunt of vagaries of nature in the form of famines and floods, sometimes in the same year! However, instead of being bogged down by such a challenging customer profile, Grameen has pioneered, often through successive iterations, ingenious tools, techniques, policies and a unique credit delivery system to deal with these challenges.

A majority of Grameen branches are located close to the customers in villages or rural areas. Unlike the traditional banks, most of the Grameen employees do not sit behind desks in clerical or other white collar managerial roles but spend their time in the field, as the Bicycle Bankers, with their borrowers, understanding their problems, helping them and monitoring and tracking their progress closely.

Introduction

Design Thinking

Case Company

Conclusion

Focusing on women Unlike traditional banks, especially in the developing world, that mostly target rich men, Grameen focuses almost exclusively on poor women. 97% of the banks borrowers today are women. This strategy is a result of data and wisdom Grameen has acquired over the years which proves that women are more reliable and financially able borrowers than men (who are more prone to drinking away the loan) and empowering them by providing credit is a better bet both in terms of ROI for Grameen as well as for ensuring that the loan is utilized in the best possible manner. Group lending & social collateral Whereas the traditional lending models followed by other commercial banks require some tangible collateral before a loan could be approved, such a scheme would never work with the people / customers that Grameen deals with they simply have no collateral to offer. Also, Grameens customers are typically illiterate and averse to complicated paperwork. Realizing this, the bank devised a novel and innovative alternative to physical / financial collateral Social Collateral through Group Lending a.k.a (22) which has now become the primary credit delivery system of not only the Grameen Bank but also most other micro-credit programs in the world. Borrowers self-organize themselves into groups of 5-10 members (mostly women). Loans are made available to the members of a group one at a time based on severity of the need. The members of the group provide moral and social support to each other and encourage each other to follow good practices as recommended by the bank. A Grameen field worker is assigned to each group who attends the weekly meetings, understands the problems faced by the members and monitors progress in general. The members of the group act as a form of social and moral collateral for each other. However, there are no legally binding group obligations in case of defaults. In fact, theres minimal paperwork involved in the entire process. Drop by drop Another area where it is crystal clear that the program has been carefully designed keeping the customers in mind is loan repayments. Repayment is divided into a very large number of tiny installments which are repaid weekly (the system was tweaked from daily repayments which posed logistical challenges). The small amount makes repayment burden free for the borrowers and weekly schedule instills discipline and facilitates easy tracking and early detection of defaults. In case theres a default, the group members and the field worker can help take remedial action which often involves understanding the reason for default and helping the borrower accordingly. There is no punitive financial or legal action against the borrower.

Introduction

Design Thinking

Case Company

Conclusion

Experiment. Generate. Rethink. Refine. Iterate. A lot of success that Grameen has had since its inception wouldnt have been possible without the willingness on the part of the bank to go back to the drawing board as often as needed; to hypothesize, prototype, validate, rethink and thus iterate over the plans, strategies, systems and designs. Whether it was testing the hypothesis to focus on women against prevalent common wisdom or fine tuning the repayment schedule to balance logistics and benefits gained from frequent small installments, Grameen imbibed the philosophy of iterating fast, taking baby steps and learning from failure. There perhaps can be no better evidence of this generative methodology and how it helped than what unfolded in the wake of devastating floods of 1998 in Bangladesh forcing a near reset in design of systems and policies at Grameen - so comprehensive that the emergent institution is often called Grameen II. It was the second coming of the movement. The second coming In 1998, Bangladesh was hit by one of the worst flooding events in the recorded human history. Around 30 million people were rendered homeless as floodwaters swallowed almost 2/3rd of the land area of the country. 135,000 cattle and 700,000 hectares of crops perished. Thousands of people died from flooding and from the outbreak of diseases like cholera and typhoid. (23) Even as Grameen tried to help by taking up huge rehabilitation programs and by issuing fresh loans for restarting income-generating activities, repairing and rebuilding homes etc. its operations were severely hit as the borrowers, affected by the floods, defaulted payments in large numbers. This had a cascading effect as the prevailing repayment rules were ill-designed to easily bring back defaulters onto the repayment path after they had veered off it. Thus, the defaulters continued to stay away leading to a low morale in lending groups and worsening the situation even further. The system was in danger of collapsing. At first the Bank responded by providing quick fix solutions through tweaking the existing rules. Fortunately, soon prudence prevailed and the bank decided to take a bolder step of going back to the whiteboard and overhauling the entire system.

We debated about it. But finally we decided in favor of it. We sat down to design it part by part, piece by piece, then pilot-tested the system quietly in a few branches to fine-tune the design; tried again in larger number of branches; reworked it; and in the end, came up with the architecture of a new system that we all liked. Muhammad Yunus
The redesign process was officially kicked off in April, 2000 and testing began immediately emphasizing the iterative and generative approach. The new system (GGS or Grameen Generalized System consisting of the set of policies, rules and operational tools and techniques was launched in 2001. The new system was designed to be flexible, borrower-friendly and to work well under both normal and disaster situations. In addition, two specialized new loan products were launched for housing and higher education. (24) Special emphasis and attention was also given to adoption of technology and computerization of branches in order to harness the potential efficiencies and free up the staff members so that they could engage even more actively in building one on one relationships with the customers in the field. By 2002, a catastrophe had been turned into an opportunity!

Introduction

Design Thinking

Case Company

Conclusion

Partners in crime! Empower & motivate your employees. While it is no secret that a motivated and passionate work force is the key to the success of any business, Grameen takes the concept of empowerment of employees to a whole new level in both spirit as well as practice! This is critical for the Grameen model to work since the employees, especially the field workers (who are a majority of the workforce) are the pulse of the entire system encompassing the bank, the borrowers and their families and the village communities. The importance accorded to the employees was, once again, most evident during the reincarnation of the bank mentioned earlier. All the 12000 staff members were involved in the collaborative decision making and the top leadership sought feedback from each employee. This motivated and enthused the employees, including those who were initially skeptical, to participate actively in the redesign process.

All the 12,000 staff participated very actively in designing the product at all the stages of its development. Some were critical in the beginning, but by the time it was ready, everybody loved it. The staff was electrified with enthusiasm - because response from the borrowers was so positive

An intensive and exhaustive training program was organized for the entire Grameen workforce to make them familiar with and excite them about the new GGS system. Numerous feedback and counseling sessions were conducted where the top management listened to the grass root employees and their concerns and helped dispel those. The efforts paid off when the employees overcame the initial reluctance and came onboard by embracing the new system and driving its implementation, enthusiastically. Another innovative program launched by Grameen was directed at fostering a culture of healthy competition and performance orientation between the Grameen branches and employees The 5-Star program. Stars symbolic accolades, were awarded to the employees for various accomplishments. A 100% repayment rate earns a Green Star; if the branch has more deposits than outstanding loans it earns a Violet star; if all the children of the borrowers in ones group(s) attend school, he/she could earn a Brown star and so on.

A Grameen staff proudly displays his stars on formal occasions. Looking at the colors of the stars one can easily figure out the area of his accomplishments. Those who got one star are working hard to get the second star. Those who do not have any star at all, are working very hard to get to their first star. It has generated a burst of energy all around. They are not doing it for any monetary benefit, they are doing it in the spirit of competition - to be ahead of their peers, to create a record for his branch, or area, or zone, to make a personal contribution in changing the economic and social condition of the poor families he is working for, and, above all, to prove their worth to themselves. (25)
The leadership at Grameen realizes that carefully designed programs such as these help in motivating the employees and in raising their performance levels.

Introduction

Design Thinking

Case Company

Conclusion

Collaborate. Work together for a better tomorrow Grameens model of holistic, synergistic and sustainable development. While Grameen is (and, as noted earlier, has been for most of its history) a profitable financial institution, the fact that it makes profits even from the poorest of the poor is only a tribute to its sustainable and scalable business model. Unlike other commercial institutions, profit making, however, is not and never was the banks chief objective. It is only a supporting goal in pursuit of Grameens core mission that of alleviating poverty and working with the poor to make them self-reliant. Thus, besides providing the poor the access to financial services and credit, which it considers vital, Grameen works closely with its borrowers helping them with their own all round development.

Conventional banks do not pay attention to what happens to the borrowers' families as results of taking loans from the banks. Grameen system pays a lot of attention to monitoring the education of the children (Grameen Bank routinely gives them scholarships and student loans), housing, sanitation, access to clean drinking water, and their coping capacity for meeting disasters and emergency situations. Grameen system helps the borrowers to build their own pension funds, and other types of savings. (26)
Every borrower who joins the Grameen family, vows to abide by the 16 decisions (27). These decisions are basically statements designed to provide concrete and actionable advice and guidance to the members, many of whom are illiterate and oblivious to these basic tenets. The decisions cover various aspects of socio-economic development of the borrowers and their families including education of children, health and hygiene, avoiding social evils like dowry and child marriages, environmental issues, disciplined spending and building savings etc. The Grameen field workers also help to reinforce these basic guidelines during the group meetings through a positive use of social and peer-pressure tactics.

Introduction

Design Thinking

Case Company

Conclusion

The bank has formulated its own 10 point criteria to evaluate whether or not the socio-economic conditions have improved for a borrower (and her family). This is a much more stringent and wholesome set of indicators (such as education of children) than the poverty line measures (which rely solely on income) typically prescribed by the governments or even other development aid institutions. A Grameen family is considered to have moved out of poverty only if it meets all the 10 indicators as per the criteria (28). As already noted, the loans that Grameen provides are primarily meant to foster small scale entrepreneurial and income-generating activities among the borrowers and, with some exceptions, are typically not meant for consumption. This guiding fundamental philosophy ensures that a Grameen loan takes the borrower a step closer to self-reliance and not to perpetual indebtedness. Another social menace that Grameen is trying to tackle is the vice of begging. The bank has launched a targeted program (Struggling Members Program) which encourages beggars to become Grameen members and get access to interest free loans for basic necessities like food, clothing, mosquito nets etc. The repayment terms for these loans are even more flexible and favorable than the regular offering of the bank. The aim of the program is to slowly integrate the beggars socially and economically with the rest of Grameens target clientele and then include them into the mainstream programs as regular Grameen members from there on.

10 Indicators

(28)

1. The family lives in a house worth at least Tk. 25,000 (twenty five thousand) or a house with a tin roof, and each member of the family is able to sleep on bed instead of on the floor. 2. Family members drink pure water of tube-wells, boiled water or water purified by using alum, arsenic-free, purifying tablets or pitcher filters. 3. All children in the family over six years of age are all going to school or finished primary school. 4. Minimum weekly loan installment of the borrower is Tk. 200 or more. 5. Family uses sanitary latrine. 6. Family members have adequate clothing for everyday use, warm clothing for winter, such as shawls, sweaters, blankets, etc., and mosquito-nets to protect themselves from mosquitoes. 7. Family has sources of additional income, such as vegetable garden, fruit-bearing trees, etc., so that they are able to fall back on these sources of income when they need additional money. 8. The borrower maintains an average annual balance of Tk. 5,000 in her savings accounts. 9. Family experiences no difficulty in having three square meals a day throughout the year, i. e. no member of the family goes hungry any time of the year. 10. Family can take care of the health. If any member of the family falls ill, family can afford to take all necessary steps to seek adequate healthcare.

The bank also stresses a lot on ensuring that the borrowers send their children to school, thus ensuring a better future for the successive both education loans as well as scholarships for meritorious students from the member families at various levels. Another indirect positive impact that the Grameen system has had is to bring political awareness among the borrowers. After becoming members, the borrowers typically begin to better understand the election process and the importance of exercising their franchise through election of center chiefs, board members etc. Many also develop a taste for local politics and run for public offices.

Introduction

Design Thinking

Case Company

Conclusion

For instance, in the 2003 local government (Union Parishad) elections 7,442 Grameen members contested in the reserved seats for women out of which 3,059 members got elected, accounting for 24 per cent of the total members elected in the seats reserved for women in the Union Parishad. (29) Since it was founded, Grameen bank has been a loyal partner and a helping hand to millions of poor people in Bangladesh in their struggle for a dignified and meaningful existence. It has, quite literally, democratized and brought at their doorsteps banking and financial services that used to be a prerogative of the rich and were out of bounds for them.

Introduction

Design Thinking

Case Company

Conclusion

Conclusion: Towards a better future through sustainable social businesses

What could a shoe company and a micro-finance institution possibly have in common? It is true that TOMS and Grameen are both very different organizations. They work in totally different domains and industries and cater to very different customer bases. While one is focuses on making and selling tangible products, the other provides intangible financial services. While one has adopted a clever, simple and powerful business model which channels the profits from regular customers to serve the poor, the other works directly with the poor, empowering them by providing them access to financial services and credit and still makes a profit (which are invested back to sustain and grow the organization). However, if only one would look a bit deeper, there is apparently a lot that TOMS and Grameen have in common. Both the organizations were founded with a mission to help the financially weaker sections of the society a mission that, to this date, continues to be at the core of both of them. In their own spheres, both, through their willingness to confront established norms and an ingenious approach to attacking wicked problems, pioneered path-breaking business models (institutionalized micro-credit in case of Grameen and the One for One model in case of TOMS) that defined new paradigms and have since been emulated by numerous other followers in both the cases. It is also striking to note that even though they serve the poor, contrary to the traditional models followed by organizations with similar charters, none of the two organizations neither TOMS, nor Grameen is a charity. Both of them are profitable businesses, not dependent on donors or aid, and this fact is a key factor that makes their business models scalable and sustainable. This also validates the fundamental premise that it is possible to make profits and grow even while serving the poorest of the poor (either directly through them or in other innovative ways) - There is indeed a fortune at the bottom of the pyramid! There are also similarities in the working philosophies and the methods that TOMS and Grameen employ. Consciously or unconsciously, both practice an approach that can be readily identified with Design Thinking. Both embrace optimism a belief in their own abilities to change the world! Both are bold enough to be confrontational questioning established beliefs and challenging assumptions. Both make extraordinary efforts to empathize and collaborate with the people they target, serve and work with. Both are not afraid of adopting a generative stance - going back to the design board when needed and testing out ways of doing things differently. Both approach the problems at hand with a holistic point of view and strive to attain synergy a positive resonance between all the stakeholders and their social, economic and environmental contexts. Both are, obviously, effectual and have already created tremendous positive impact in their own ways, as already noted in the report.

Introduction

Design Thinking

Case Company

Conclusion

Measuring success The success of project or a venture could mean different things in different contexts. Whether a project is judged to be successful or not will depend on the business objectives, project aims and end goals defined in the brief, and the performance criteria against which success needs to be measured. (30) The objective of a social business is typically to maximize the social-change that it seeks to bring as opposed to maximizing profits. The business still needs to make profits to be sustainable and scalable but, unlike the commercial ventures, profit maximization is not the goal. 65 percent of Grameens borrowers have managed to clearly improve their socio-economic conditions and lift themselves out of extreme poverty. (31) As of September 2010, TOMS, through its customers has given away 1 million pairs of shoes. (4) When Prof. Yunus invented micro-credit, as it is known today, and set out to create Grameen, and when Blake Mycoskie founded TOMS, they probably did not realize the profound impact their actions would have on the fields of finance, developmental economics and social venturing and entrepreneurship. But perhaps that impact is not their or their organizations greatest contribution or achievement. What is much more important and awe inspiring is the impact that they, through Grameen and TOMS, through innovation and through design thinking, have had on the millions of people who lead a better life today!

references

1. C.K. Prahalad, Stuart Lloyd Hart. The Fortune at the Bottom of the Pyramid. Strategy+Business. 2002, 26, pp. 54-67. 2. Christian Seelos, Johanna Mair. Social Entrepreneurship: Creating new business models to serve the poor. Business Horizons. 2005, 48, pp. 241-246. 3. IDEO. Human Centred Design Toolkit. 2nd. s.l. : IDEO, 2009. 4. TOMS. Giving Report. s.l. : TOMS, 2011. 5. . Blake Mycoskie's Bio. TOMS. [Online] [Cited: September 30, 2011.] http://www.toms.com/blakes-bio. 6. Mycoskie, Blake. TOMS Shoes - Part 1. The TH Interview. s.l. : TreeHugger Radio, September 11, 2008. 7. TOMS. Our Giving Partners. TOMS. [Online] [Cited: October 6, 2011.] http://www.toms.com/our-movement-giving-partners. 8. Mycoskie, Blake. TOMS Shoes (Part Two). The TH Interview. s.l. : TreeHugger Radio, September 18, 2008. 9. Zimmerman, Mike. The Business of Giving: TOMS Shoes. Sucess Channels: Giving Back. [Online] [Cited: October 6, 2011.] http://www.successmagazine.com/the-business-of-giving/PARAMS/article/852. 10. Ferenstein, Gregory. TOMS Shoes - Generation Y Strategy. FastCompany. [Online] June 9, 2010. [Cited: September 30, 2011.] http://www. fastcompany.com/1658289/toms-shoes-generation-y-strategy. 11. Gillis, Carly. TOMS announces eyewear as new 'One for One' product. The Huffington Post. [Online] July 6, 2011. [Cited: October 6, 2011.] http://www.huffingtonpost.com /2011/06/07/toms-eyewear-one-for-one_n_872847.html. 12. TOMS. One for One. TOMS. [Online] [Cited: October 6, 2011.] http://www.toms.com/eyewear/our-movement/. 13. Lamantia, Joe. The Rise of Holistic Thinking. JoeLamantia.com. [Online] July 24, 2007. [Cited: October 3, 2011.] http://www.joelamantia.com/ideas/the-rise-of-holistic-thinking. 14. Pirouz, Raymond. Holistic Thinking. [Online] 2010. [Cited: October 4, 2011.] http://raymondpirouz.tumblr.com/post/225678614/holistic-thinking. 15. Jayson, Sharon. Generation Y gets involved. USAToday.com. [Online] [Cited: October 6, 2011.] http://www.usatoday.com/news/nation/2006-10-23-gen-next-cover_x.htm. 16. Holloway, Matthew. What is Design Thinking. MatthewHolloway.com. [Online] [Cited: October 2, 2011.] http://www.matthewholloway.com/designthinking.html. 17. Mainwaring, Simon. TOMS VS. BOBS: How Sketchers shot themselves in the foot (FC Expert Blog). FastCompany.com. [Online] October 21, 2010. [Cited: October 4, 2011.] http://www.fastcompany.com/1696887/toms-vs-bobs-how-skechers-shot-themselves-in-the-foot. 18. Brown, Tim. Change By Design. s.l. : Harper Collins, 2009. 19. Muhammad Yunus, Jolis Yunus Alan. BANKER TO THE POOR. s.l. : Penguin, 2007. 20. Grameen Bank. Past Fourteen Years at a Glance 1997-2010. Grameen Bank. [Online] [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=39&Itemid=430. 21. . Breaking the vicious cycle of proverty through microcredit . Grameen Bank. [Online] [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=25&Itemid=128. 22. Wikipedia. Solidarity Lending. Wikipedia.org. [Online] [Cited: October 8, 2011.] http://en.wikipedia.org/wiki/Solidarity_lending. 23. . 1998 Bangladesh Floods. Wikipedia.org. [Online] [Cited: October 8, 2011.] http://en.wikipedia.org/wiki/1998_Bangladesh_floods. 24. 5 Cents a day:The Experience of Grameen Bank. Barua, Dipal Chandra. Halifax : MicroCreditSummit.org, 2006. Global Microcredit Summit. 25. Yunus, Muhammad. Grameen Bank II - 5 Star Branches. Grameen Bank. [Online] [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=30&Itemid=764&limit=1&limitstart=9. 26. Grameen Bank. Is Grameen Bank Different? Grameen Bank. [Online] [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=27&Itemid=176. 27. . 16 Decisions. Grameen Bank. [Online] [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=22&Itemid=109. 28. Yunus, Muhammad. 10 Indicators. Grameen Bank. [Online] [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=23&Itemid=126. 29. Grameen Bank. Grameen at a Glance. Grameen Bank. [Online] August 2011. [Cited: October 9, 2011.] http://www.grameen-info.org/index.php?option=com_content&task=view&id=26&Itemid=175. 30. Best, Kathryn. Design Management: Managing Design Strategy, Process and Implementation . s.l. : Ava Publishing, 2006. 31. Grameen Bank. Grameen Bank FAQ. Grameen Bank. [Online] [Cited: October 6, 2011.] http://www.grameen-info.org/index.php?option=com_easyfaq&task=cat&catid=80&Itemid=200.