The Social Business Model

Bangladeshi economist Muhammad Yunus runs one of the few socially responsible banks in the world: Grameen Bank, which provides small loans to poor people and entrepreneurs with no collateral to help them become financially self-sufficient. Yunus, who also serves on the UN Foundation’s board of directors, describes how he created his social business model, and how others can create benevolent businesses of their own. Socially responsible businesses succeed because their bottom lines focus on others, rather than on profit alone Yunus believes this creates an incredible opportunity for start-ups in many destitute sectors, such as healthcare. “Should we leave everything to the decisions of the profit maximizers, so that their benefit is what decides the world?”

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