Cholmes writes in ‘Into The Pudding’ his thoughts on social business:

A month or two ago I came across an amazing piece by Muhammad Yunus, where he introduces the ‘Social Business’. I do hope the meme builds momentum, and I’m hoping my ‘dot-org‘ concept can grow to be the technological sector of the social business world. It’s a great narrowing of the term ‘Social Enterprise‘, which I feel has almost been too broadly adopted so as to become less meaningful. I’m looking for a more narrow focus – entities that are fundamentally both in service of a mission and operated to draw income from the market, not from charity. He articulates this better than I’ve seen before, with his full cost recovery social business – leaving behind the dependency of a charity, one enters the business world with ‘limitless possibilities’.

I especially liked his points about a Social Stock Market, that it needs to be a set of separate concepts, with different measures and media outlets. But I find his ideas on how to get there a bit weak – having a design competition that rewards the best ones with funding. He also suggests that someone soon could just hatch a Social Stock Market, and a little research found that Rockefeller is already moving to fund one. But I’m fearful that it’s too much too soon, and that a bunch of not so great social enterprises will give it a bad name. Read the rest of this entry »

Advertisements

In Santa Barbara Independent Richard Appelbaum noted an interview with the the man who is creating a world without poverty:

Muhammad Yunus is the winner of the 2006 Nobel Peace Prize or his path-breaking work in bringing microcredit (tiny loans for small businesses) to millions of impoverished Bangladeshis through the creation of the Grameen Bank.

The idea for microcredit began in the early ’70s, when Yunus — an economist from Bangladesh’s Chittagong University — led his students on a field trip to a poor village, where they interviewed a woman who made bamboo stools. Yunus learned that she had to borrow money at rates as high as 10 percent per week for the bamboo she used — a cost that left her with only two pennies a day as her total income. Had she been able to borrow under fair conditions, she would have been able to amass an economic cushion and rise above a subsistence level. Read the rest of this entry »

Published on Friday, February 15, 2008 by the Christian Science Monitor

How Social Business Can Create a World Without Poverty

by Muhammad Yunus

Bill Gates caused a stir in Davos last month with his call for “creative capitalism.” He pointed out that while capitalism is “responsible for the great innovations that have improved the lives of billions … to harness this power so it benefits everyone, we need to refine the system.”

I see traditional capitalism as a half-developed structure. It ignores the humanity within all of us.

Moneymaking is an important part of humanity, but it is not the only part. Caring, concern, sharing, empathy – all of these aspects also must be considered when developing an economic framework that takes the whole person into account.

Enter the missing piece of the global development puzzle: social business. Read the rest of this entry »

The Milken Institute discusses the “Creating a world without poverty’ as an event:
As if being awarded the Nobel Peace Prize weren’t enough, Muhammad Yunus has set his sights on a new goal: turning the entire current cannon of business thought on its head. As captured in his latest book, Creating a World Without Poverty, Yunus is determined to bring about a tremendous change in our current understanding of what it really means to turn a profit. Read the rest of this entry »

Following is the personal accounts on ‘Creating a world without poverty’ in Peter Unzipped:
Yesterday I finished Creating a World Without Poverty, a book by Muhammad Yunus that covers a lot of ground but mainly focuses on social business. For those of you who are not familiar with the term, a social business lies somewhere between a for-profit business and a charity. For the most part, a social business operates like a for-profit business except it does not pay dividends – it only returns the original investment to it’s investors, any profits are used to expand the business. Like a charity the goal of a social business is to meet a particular social need, but unlike a charity it seeks to be self-sustaining so that it does not have to rely on donors for cash. Read the rest of this entry »

BILL WILLIAMS reviewed the book in National Catholic REPORTER:

Muhammad Yunus was looking forward to a career as an economics professor when he became curious about why so many people in his native Bangladesh were mired in poverty.

He had encountered a woman who turned to a local moneylender whenever she needed cash for materials to make stools. The moneylender required that she sell him everything she produced at a price he would determine, a system Mr. Yunus equated with “slave labor.” Mr. Yunus then began lending money out of his own pocket to poor women and eventually founded Grameen Bank to provide small, low-interest loans to people with no credit history and no collateral. Read the rest of this entry »

Make things happen

May 26, 2008

Arvind Devalia noted his observations on the book in his blog

Last Saturday I was lucky enough to hear live a lecture by Professor Muhammad Yunus at the wonderful St James Church in Piccadilly London. Professor Yunus was honoured and recognised for this life changing work amongst the poor of Bangladesh with the Nobel Peace Prize in 2006.

I was especially lucky to have had front row seats – and you can see more pictures on my Facebook profile.

It was quite an inspirational day – here was an amazing man with the lofty ambition of eliminating poverty from the world and to one day make it simply non existent – so that we would need “Poverty Museums” to show future generations what life used to be like for the majority of people on earth. They will wonder why poverty existed so long in humankind – and how there could have been so much inequality in the world. Read the rest of this entry »