Social Business

Book introduction excerpt here
I bought this book over the weekend. I read it last night, the first two chapters - the prologue and the introduction, albeit having one of those incredibly exhausted days.

Muhammad Yunus is indeed a genius - a worthy receipient of the Nobel Peace Prize (together with Grameen Bank) in 2006. When the Nobel Peace prize winner was announced, I was a bit surprised to hear of this unknown man - such is the world of information and capitalism, that those worthy causes which do not generate profit and publicity does not gain much worldly attentions.

Here is a man who developed and built Grameen Bank, igniting the microcredit revolution, and at the same time, working on loans to poor women to conduct business and creating the social capability for them to lift themselves from the poor via small businesses. Loans were all less than USD 100 and yet it was capable to enable these women to be entrepreneurs and start new businesses for them to survive.

This book talks about a new idea which I found refreshing - social business. The idea of a social business is about a no profit, no dividend based business which seeks to address social issues ie. poverty, malnutrition (the example was contribution and establishment of Grameen Danone which provided yogurt to the poor in Bangladesh using a no profit scheme and at same time distribution channel of the Grameen women, enabling the poor to be part of the scheme).

The introduction itself was captivating, it addressed why World Bank, Governments, NGOs and Corporations with CSR intent was not able to address the social dilemmas but it required a new form of business called social business where these issues could be discussed.

A worthy read.