The Blue Sweater: Bridging the Gab Between the Rich and the Poor in an interconnected world

ABOUT THE AUTHOR: Jacqueline Novogratz Jacqueline Novogratz is founder and CEO of the Acumen fund. Working class background, MBA from Stanford’s business school She started out working for Chase Banks International Division Went on to work as a consultant for the world bank and UNICEF. Worked for the Rockefeller Foundation before starting Acumen. Now manages Acumen Fund, serves as catalyst for social entrepreneurship in developing countries.

Acumen definition: the ability to make good judgments and quick decisions, typically in a particular domain. →→ →→

The Book: The book follows Jacqueline Novogratzas as she travels first as a investment banker, and later as a social entrepreneur for the world bank and UNICEF, after taking the lessons she learn as a consultant she goes on to found Acumen, which works to end poverty in third world countries.

Key Takeaways:  Many countries are sensitive to getting help from weather investment funds.  There is a belief that in the investment banking world that there are no individuals who care about alleviating poverty.  Its important to listen to what a community wants not what the social investors thinks a community needs.  Creating healthier environments like building water infrastructure in rural areas can have a number of spin off effects that can improve economic conditions.  Providing loans as opposed to grants can leave the people you are trying to help more skills to compete in the open market and may be better in the long run.  Connecting and selling a vision requires determination, the ability to pitch ideas to funders, and be able to demonstrate measureable success leads to new opportunities, and new ways to impact te world.  Many countries are sensitive to getting help from weather investment funds.  There is a belief that in the investment banking world that there are no individuals who care about alleviating poverty.  Its important to listen to what a community wants not what the social investors thinks a community needs.  Creating healthier environments like building water infrastructure in rural areas can have a number of spin off effects that can improve economic conditions.  Providing loans as opposed to grants can leave the people you are trying to help more skills to compete in the open market and may be better in the long run.  Connecting and selling a vision requires determination, the ability to pitch ideas to funders, and be able to demonstrate measureable success leads to new opportunities, and new ways to impact te world.

Key Takeaways Continued.  Changing cultural norms can be key to improving the conditions of a communities lives.  Oftentimes these behaviors are deep seeded and take time to overcome.  War can disrupt or destroy prospering communities and can turn a economic success story into a tragedy.  Trust is the foundation of good business and reliable lending procedures.  Sustainability and market feasibility studies are important to determining if a business can succeed. Social lenders should always do diligent research prior to funding projects.  Change using micro-lending services is possible and has opportunities for growth here in the united states and across the world.  Changing cultural norms can be key to improving the conditions of a communities lives.  Oftentimes these behaviors are deep seeded and take time to overcome.  War can disrupt or destroy prospering communities and can turn a economic success story into a tragedy.  Trust is the foundation of good business and reliable lending procedures.  Sustainability and market feasibility studies are important to determining if a business can succeed. Social lenders should always do diligent research prior to funding projects.  Change using micro-lending services is possible and has opportunities for growth here in the united states and across the world.

Key takeaways continued  Success in ending poverty requires Building a vision for the people and recognize that no single source of leadership will make it happen. (p.231)  Markets are the starting point and not the endgame of solving poverty.  Technology is one of the greatest drivers of economic change.  Generosity is far easier to obtain that justice.  Success in ending poverty requires Building a vision for the people and recognize that no single source of leadership will make it happen. (p.231)  Markets are the starting point and not the endgame of solving poverty.  Technology is one of the greatest drivers of economic change.  Generosity is far easier to obtain that justice.

Acumen values and outcomes  People need to believe that they can participate fully in the decisions that impact their lives and have a stake in the societies in which they live. Acumen looks to find enterprises who unleash this potential.  By 2008 acumen was able to doll out over 40 million in investments to over 40 enterprises serving the poor.  Leaders are made, not born, and Acumen also focuses on leadership development. They have designed a fellowship program to create new entrepreneurs.  People need to believe that they can participate fully in the decisions that impact their lives and have a stake in the societies in which they live. Acumen looks to find enterprises who unleash this potential.  By 2008 acumen was able to doll out over 40 million in investments to over 40 enterprises serving the poor.  Leaders are made, not born, and Acumen also focuses on leadership development. They have designed a fellowship program to create new entrepreneurs.

References:  Novogratz, J. (2009). The blue sweater, Bridging the gap between the rich and the poor in an interconnected world. New York: Rodale Inc.