12 February 2007

Yunus on "Social Business Enterprise"

I have been following closely Nobel Peace Prize winner Muhammad Yunus, "the father of microcredit". He combines business approaches with social goals... therefore I am superinterested in his new idea: it's called "social business enterprise". First step is a yogurt factory in Bangladesh, the Fortune magazine reports...

What if, by raising "social capital" and investing it in sustainable businesses without a profit motive, companies could reach into new markets, expanding their core businesses at the same time they improved lives? That's the world Yunus envisages. " It could be a very big idea," says a fellow Nobel laureate, the economist Joseph Stiglitz, who has been hearing Yunus talk about his new endeavor for years. The question, he says, is how to implement it. Read the Fortune magazine article.