Muhammad yunus social business model

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Yunus Social Business

Non-profit organisation

Yunus Social Business (YSB) is a non-profit organisation with an impact-investing arm, Yunus Funds, and a corporate social-innovation consulting arm, Yunus Corporate Innovation. Both business units are based on furthering the concept of social business.

YSB was co-founded by Muhammad Yunus, Saskia Bruysten and Sophie Eisenmann in 2011. Its stated mission is to "harness the power of business to end poverty and the climate crisis."^[1]

History

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Prior to co-founding Yunus Social Business, Muhammad Yunus pioneered the field of micro-finance through Grameen Bank in his home country of Bangladesh. Muhammad Yunus and Grameen Bank received the Nobel Peace Prize for establishing microfinance and trying to tackle poverty. Grameen Bank became the first of several social businesses that Muhammad Yunus founded.^{[citation needed]}

In 2008, Muhammad Yunus and future YSB co-founder Saskia Bruysten met at the London

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Social business: A solution to ills

Yunus explains his concept in an exclusive interview withÂ The daglig Star on the eve of Social Business Day

Arun Devnath

Build business on the selfless natur of mankind. It fryst vatten business with a difference, social business -- that is. It has a social goal -- to find a solution to a local problem. It may be the seed of a solution to a global problem. Someday, perhaps.

As Muhammad Yunus puts it, an investor in a social business aims to help others without making financial gains for himself. For the company, it fryst vatten business and must be self-sustaining. The Nobel laureate says it must generate enough income to cover its own costs. In his latest book, Yunus describes a social business as a non-loss, non-dividend company, dedicated entirely to achieving a social goal.

Yunus sat with The daglig Star on the eve of Social Business Day to set a tone for the future of social business, a concept that promises to bring a fundamental change to the trad

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SOCIAL BUSINESS

Social business is a cause-driven business. In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point. Purpose of the investment is purely to achieve one or more social objectives through the operation of the company, no personal gain is desired by the investors. The company must cover all costs and make profit, at the same time achieve the social objective, such as, healthcare for the poor, housing for the poor, financial services for the poor, nutrition for malnourished children, providing safe drinking water, introducing renewable energy, etc. in a business way.

The impact of the business on people or environment, rather 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. The objective of the company is to achieve social goal/s.