Sonntag, 8. Mai 2011

Social Business

Muhammad Yunus got famous with his micro credits for poor people, which helped them to become mini-entrepreneurs and to establish some financial independence. He developed this idea a big step further and invents the term "Social Business" - which is a model for companies to improve the world and the life of thousands and thousands of people. He explains in detail why big companies should invest in "Social Businesses" and how to do it. These businesses operate on the market, but in opposite to traditional companies, they reinvest 100% of their profits. Therefore they are able to really improve local infrastructure, provide valuable goods and to generally correct social problems. Great book!!

Muhammad Yunus (born 28 June 1940) is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit (small loans to poor people possessing no collateral) to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize. Yunus himself has received several other national and international honors.

He previously was a professor of economics where he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. He is the author of Banker to the Poor and a founding board member of Grameen America and Grameen Foundation. In early 2007 Yunus showed interest in launching a political party in Bangladesh named Nagorik Shakti (Citizen Power), but later discarded the plan. [wikipedia]

author: muhammad yunus

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