Social Business: An alternative for a better future?
Everyday it becomes more evident, that the world’s economic structure is challenged because of the way it has been conceptualized. With this, various social problems, such as poverty and inequality, increase. But what alternatives do we have? “Growth comes when you open up the potential of the economy and unleash the creative energy of the society,” is Prof. Muhammad Yunus answer to this question. His aim is to include the incentive of doing social good into doing business. The Nobel Peace Prize laureate focuses on spreading and implementing the principles of social business—solving social problems while staying financially self-sustainable. Although a Social Businesses has a social mission, it generates its own revenues to cover its costs and gives an alternative to traditional business models. Social Business is not only for least developed countries, also in Austria the number of companies that successfully implement social business ideas is growing. How can we support and foster this kind of business model?
Nobel Peace Prize laureate Prof. Muhammad Yunus (72) is a Bangladeshi economist and founder of Grameen Bank. He developed the concept at the core of Grameen Bank: banking without collateral for the poorest of the poor. Prof. Yunus has founded 50 companies and is chairman of the Yunus Centre, a one-stop resource centre for all Grameen social business-related activities in Bangladesh and around the world.
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