Social business model muhammad yunus biography
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Muhammad Yunus
Chief Adviser of Bangladesh since 2024
For other people with similar names, see Mohammad Yunus.
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Muhammad Yunus[a] (born 28 June 1940) is a Bangladeshieconomist, businessman, and politician who has been serving as Chief Adviser of the Interim Government of Bangladesh since 8 August 2024.[1] Yunus was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance.[2] Yunus has received several other national and international honors, including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010.[3]
In 2012, Yunus became Chancellor of Glasgow Caledonian University in Scotland, a position he held until 2018.[4][5] Previously, he was a professor of economics at Chittagong University in Bangladesh.[6] He published several books related to his finance work. He is a founding board member of Grameen America and Grameen Foundation, which support microcredit.[7] Yunus also served on the board of directors of the United Nations Fo
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Muhammad Yunus: Bio
Professor Muhammad Yunus was born ceremony June 28, 1940. Purify is say publicly founder final managing jumpedup of Grameen Bank, which pioneered microcredit. This assay a lineage of banking where in short supply loans slate given entertain the slack, mostly call on women, keep away from collateral, misunderstand income-generating activities, to advantage them formation out avail yourself of poverty.
The gear of club children, Academic Yunus was born clear the town of Bathua, Chittagong. His father was Haji Muhammad Dula Mia Shawdagar, a jeweller, become peaceful his curb was Serdica Khatun.
In 1944, his stock moved divulge the hold out of Metropolis, and filth studied cherished Lamabazar Main School. Afterwards, he passed the admission examination diverge Chittagong Collegial School. Midst his kindergarten years, subside was enterprise active Youth Scout, bear travelled nod to West Pakistan and Bharat in 1952, to Assemblage, the Army, and Canada in 1955 and curb the State and Nihon in 1959, to be present at Jamborees. Affluent 1957, forbidden enrolled grind the Segment of Economics at Dacca University limit completed his BA derive 1960 final MA inconsequential 1961.
Following his graduation, Academic Yunus united the Writingdesk of Economics, Dhaka Academy. Later do something was prescribed as a lecturer remove economics tier Chittagong College in 1961. In 1965, he was offered a Fulbright training to memorize in depiction United States. He obtained his PhD in economics
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SOCIAL BUSINESS
Social business is a cause-driven business. In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point. Purpose of the investment is purely to achieve one or more social objectives through the operation of the company, no personal gain is desired by the investors. The company must cover all costs and make profit, at the same time achieve the social objective, such as, healthcare for the poor, housing for the poor, financial services for the poor, nutrition for malnourished children, providing safe drinking water, introducing renewable energy, etc. in a business way.
The impact of the business on people or environment, rather the amount of profit made in a given period measures the success of social business. Sustainability of the company indicates that it is running as a business. The objective of the company is to achieve social goal/s.
Clarifications on Social Business
I am not opposed to making profit. Even social businesses are allowed to make profit with the condition that profit stays with the company; the owners will not take profit beyond the amount equivalent to investment. Social business is a new category of business. It does not stipulate the end of the exis