Muhammad Yunus on the Grameen Social Business
It was too late when I discovered through Vivian (on Twitter) that Muhammad Yunus was delivering a talk in Paris this week. A few minutes ago, she tweeted a summary of the talk in multiple tweets. I’m trying to put together these tweets in a single post.
Vivian says here:
Yunus gave me his Seven Principles of Grameen Social Business yesterday.
- Business objective will be to ovecome poverty or one or more problems (education, health, technology access and environment) which thraten people and society; not profit maximization.
- Financial and economic sustainability
- Investors get back their investment amount ONLY. NO dividend is given beyond investment money.
- When investment amount is paid back, company profit stays with the company for expansion and improvement
- Environmentally conscious
- Workforce gets market wage with better working conditions
- (my favorite!) Do it with joy!
Classic social business concepts, yeah? High-impact, sustainable yet not-for-profit.
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