Prof Yunus Addressing Chile
http://www.youtube.com/watch?v=PAO4s3aAyaY
Monday, February 10, 2014
Interview Latin America "Social Business: Odyssey of the Third Millennium"
Social Business: Odyssey of the Third Millennium
The vision of Prof.
Muhammad Yunus, Nobel Peace Prize winner, is that many global problems we face
can be solved through the creation of Social Business. This is a form of
business that is mainly driven by a cause, rather than by traditionally
business school objectives such as profit maximization with minimal investment
and cost reduction. The social business concept goes far beyond accomplishing
personal or investor goals. It is focused on the human being and seeks to
achieve one or more social objectives through a company. In this new form of
company, all costs are covered so that investors or owners recover their
investment, albeit through a reduced dividend distribution policy that places
the social cause first, thus bringing a new perspective to what is morally
ethical. This new concept of social business allows obtaining benefits, but
under the condition that benefits are maintained in the company and reinvested;
investors and shareholders receive a fair retribution equal for their
investment. Thus social business brings a new dimension to the business world
and a new sense of social awareness among the community. If social objectives
can be achieved more efficiently and effectively by adopting a social business
format that is sustainable, then, why not take this venue? Why give up the
notion of profit, if it has established itself in mankind as a key performance
indicator? To abandon the idea is quite illogical and contravenes the essence
of the human beings. To do so would cause great surprise. To be totally clear:
a social business does not ask people to give up a retribution for their
effort. The idea of "giving something up" was usually cause a
tremendous shock in any human. The paradigm of Prof. Yunus for social
enterprise does not ask anyone to "give anything up". Rather, it
proposes that if you are concerned about a social problem, you can make a
significant contribution, perhaps even through your current activities, to
solve a problem that involves all of us. Perhaps this could even open a door
that leads to solving a worldwide problem. It is up to you. Reinvest the
company's money in itself and make it grow. This will benefits everyone within,
from the janitor to the owner; its customers; the community as a whole, the
region, the country and perhaps even the planet. With this practice you will be
making a contribution towards humanizing the economy, a purpose that has long
been lost due to the greed of people.
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