Nobel peace prize laureate professor Dr. Muhammad Yunus is the
founder of microcredit and social business. His groundbreaking work in introducing
collateral free loans for the poor in Bangladesh was formalized into a specialized
bank for poor in 1983 called Grameen Bank (Rural Bank) fueled by the belief the
credit is a fundamental human right. his objective was to help poor people
escape from poverty by providing loans on terms suitable to them and by
teaching them a few sound financial principles so they could help themselves.
From Dr. Yunus' personal loan of small amounts of money to destitute
basket weavers in Bangladesh in the mid 70's, the Grameen Bank has advanced to
the forefront of a burgeoning world movement toward eradicating poverty through
micro lending. Replica of the Grameen Bank model is being operated in more than
100 countries worldwide. today, Grameen Bank itself lends to more than 8.4
million people in virtually every village in Bangladesh.
other than the work in the field of micro finance, professor Yunus
is also known as the father of social business in idea which has gone from
being theory to an inspiring practical. Social business which are non dividend
companies established to solve social problems are emerging as a real alternative to
traditional from of philanthropy and CSR (Corporate Social Responsibility) as
an effective way to effect sustainable social change.
social business following Professor Dr. Yunus's ideas have
developed in Bangladesh, Japan, Germany, Haiti, Colombia, India, Albania, and
many other places in the world. This business tackle poverty, access to clean
water, healthcare, employment creation, nutrition, the list is endless. Many developing
countries suffer from various forms of negligence deprivation and lack of
opportunities to create a meaningful and decent life for themselves. There is
widespread shortage of schooling, healthcare, sanitation and absences of effective
mechanism for employment generation. In this modern day of science and
technology and vast movement of capitals such dark holes in the society are
unacceptable. in the words of Dr. Yunus it is the opportunity or lack of it
that shapes a mans future.
people have unlimited capacities and only few people try to
utilize their potential capabilities. Dr. Yunus says" Making more money
more funny" and poor people do not look for charity instead of looking new
ideas. so that social business can address the all social problem which are
spread all over the developing countries. People really rely on government but government
does not have enough fund to distribute poor people but private public partnership
can help to establish public fund and invest for social business. Social
business ideas is very well ideas to lending money for poor people without any
collateral. private and public financial institution only work for dividend and
it will not help to the grass root level like as poor people. Pro. Dr. Yunus
already has experimented his beautiful and innovative ideas to serve poor and beggar
also. More than fifty five thousands beggars have been transforming their life
through social business, they there owning their business and severing as a entrepreneur.
so that ideas can change the life and career of the people. if social business
ideas replicated in poor places it will be better to transform the life of
disadvantage as well as weaker section of the society.
In a social business, the investors or owners or entrepreneur can
gradually recover the money invested, but cannot take any dividend beyond that
point. The purpose of the investment is purely to achieve one or more social
objectives through the operation of the business or company, since no personal financial
gain is anticipated by the owners. The company must cover all costs and make
revenue, but at the same time achieve the social objective. The impact of the
business on people or environment, rather than the amount of profit made in a
given period measures the success of social business. Sustainability of the
company indicates that it is running as a business.
Principle of Social
Business :
·
Social
Business objective will be to overcome poverty, or one or more problems like as education, health, technology access, and
environment, which threaten people and society; not profit maximization
·
Financial
and economic sustainability
·
owners
get back their investment amount only; no dividend (surplus or bonus) is given beyond investment money
·
When
investment amount is recover, business profit stays with the company for enlargement
and upgrade
·
Environmentally
conscious
·
Workforce
gets market wage with better working conditions
·
Do it
with joy
Significant changes are occurring in the
field of social enterprise, including major developments in the flow of
funding, growing but often unexploited philanthropic resources, and a shift in
the role of government, as well as new social investment models and impact
measurement tools. All of these phenomena are occurring against a larger framework
of demographic and market change as boundaries impression among the traditional
nonprofit, for-profit, and public-sector silos. Currently, the sector remains
on the brink of several possible futures, including consolidation,
entrepreneurial growth, and expressive experimentation.
in conclusion, social business is for the
poor people who do not have adequate resources to improvement for their life.
just educate the poor people and lends money without any collateral and recover
after business. people would love this fantastic and funny ideas in the words
of Dr. Yunus.
Nice post. I like the way your start and then conclude your thoughts. Thanks for this information .I really appreciate your work, keep it up!
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