Social business Pedia

Importance of working for a social business

Every person works day and night and puts all his effort to earn money. Money is the primary key to living. People run behind money because they want their families to live happily. Some work in firms and concerns whereas some are involved in business. It is important that people should think of the fact that running a business involves a lot of underground knowledge on the business, current technology used in the business, people’s mind and of course money. This money is just an initial investment in business which multiplies later or gets lost depending on the knowledge that one has on the business product and the way one handles it. People should know the fact that running a business also includes social responsibility. It is not for one’s own purpose but business involves many people put to together. When a person runs a business, profits are expected to know whether the business is running smoothly. There are companies which do not depend on profits and are financially self-sustainable. Businesses that are created and designed to address social problems are called social business.

Social business

This was founded by Professor Muhammad Yunus, the Nobel Peace prize laureate. It was mainly started to address social problem. It is a non-loss and non-dividend company where in the profits gained are reinvested in the business itself with the aim of increasing social impact. Unlike non-profit organizations, they are not dependent on funds and trusts to survive or operate and they use the funds to increase and improve the social business. They do not consider the profits made through business than the beneficial effects it has on the society.

Selflessness and selfishness

In a normal business, the main motive is to seek profits no matter how much people are affected by the product. Social business run by Yunus mainly focuses on selflessness, where people are performing social help like constructing churches, temples, parks, art museums, synagogues, health clinics etc. This type of people-minded business is important when it comes to Social business Pedia.  The business follows seven principles which mainly involve profit being used for company’s enhancement and work with joy. The website of social business media focuses on being financially self-sustainable.