Social Business has been discussed for years to develop and encourage people from diverse communities to come up with new social venture. Indeed, the idea has been originated from the Social Business concept of Nobel Laureate economist Professor Dr. Muhammad Yunus and has become one of the eye-catching concept in world stage. Entrepreneurs are considered national assets to be cultivated, motivated and remunerated to the greatest possible extent, and social entrepreneurship, an outcome of Social Business, is going to lead the world towards positive change. It is imperative that the 21st century needs a boost for the potential social entrepreneurs with right business skills, appropriate training and tools, and proper vision to successfully create and grow their businesses. Leaders of the Social Business Academia believe that an integrated effort can make a significant difference in this process to excel faster.
About Social Business
With the idea of social business, Professor. Muhammad Yunus has introduced a new dimension for capitalism: a business model that does not strive to maximize profits but rather to serve humanity’s most pressing needs. 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 objectives in a business way.
DIU Initiatives of Social Business
DIU is one of the first university working on Social Business Movement since 2011. Later on the university has established the Yunus Social Business Centre with MoU with Yunus Centre. The University has created online platform for training students about Social Business. Besides online courses this platform has also developed Social Business Game first time of its kind. As the part of offline training the university has inaugurated Certificate Courses, Summer Programs and Exposure Programs on Social Business. Social Business Design Lab of DIU has been creating entrepreneurs to solve unemployment problem of the country.