“Whenever I see a problem, I start a business,” said Nobel Laureate Muhammad Yunus at the May 24th kick off program of the Commonwealth Club’s series on social entrepreneurship in America. Dr. Yunus hit upon one of the main themes of the series: the blurring line between profit and nonprofit, business and charity when providing a social good.
Muhammad Yunus has been pushing the envelope when it comes to the notion of business for social good since his first loan of $27 in his native Bangladesh. His current idea is to push this notion even further. He believes that it is possible to run successful “social businesses”—businesses that provide a social good but do not derive profit. In his book, he cites several examples of companies working with Grameen according to this model: Grameen Danon providing low-cost yogurt to children in Bangladesh; Grameen Veolia providing inexpensive, clean water; and Grameen Intel using Intel technology to more accurately monitor infant-maternal health. Dr. Yunus believes that companies should want to engage in this type of business as it enhances corporate reputation, pride and employee loyalty. Certainly, there is no question that the pioneering firms working with Dr. Yunus are learning a great deal about working with the poor in Bangladesh and receiving worldwide recognition for their groundbreaking partnerships with this amazing Nobel Laureate.
To read the full, original article click on this link: What Exactly is Social Entrepreneurship in America? (June 10, 2010) | Opinion Blog | Stanford Social Innovation Review
Author: Ruth Shapiro
