Grameen Bank Sixteen Decisions to Attain True Business Success – Grammen Bank of Bangladesh which popularizes microfinance lending has attained phenomenal success in its operation. Their success is due to the successful implementation of a social development program formally known as the “Sixteen Decisions.”
Smart entrepreneurs can also adopt these sixteen decisions. These are:
1. The four principles of Grameen Bank – discipline, unity, courage and hard work – we shall follow and advance in all walks of our lives.
2. Prosperity we shall bring to our family.
3. We shall not live in dilapidated houses. We shall repair our houses and work towards constructing new houses at the earliest.
4. We shall grow vegetables all the year round. We shall eat plenty of it and sell the surplus.
5. During the planting season, we shall plant as many seedlings as possible.
6. We shall plan to keep our family small. We shall minimize our expenditures. We shall look after our health.
7. We shall educate our children and ensure that they earn to pay for their education.
8. We shall keep our children and the environment clean.
9. We shall build and use pit latrines.
10. We shall drink tubewell water. If it is not available, we shall boil water or use alum.
11. We shall not take any dowry in our son’s weddings, neither shall we give any dowry in our daughter’s wedding. We shall keep the center free from the curse of dowry. We shall not practice child marriage.
12. We shall not inflict any injustice on anyone; neither shall not we allow anyone to do so.
13. For higher income, we shall collectively undertake bigger investments.
14. We shall always be ready to help each other. If anyone is in difficulty, we shall all help him.
16. If we come to know of any breach of discipline in any center, we shall al go there and help restore discipline.
16. We shall introduce physical exercise in all our centers. We shall take part in all social activities collectively.
These decisions are sometimes called the social development constitution of the Grameen Bank. If smart entrepreneurs can adopt and implement these decisions, they can also gain the true essence of business success.