The Importance Of Social Business

First of all, I really like his approach to overcome the cause of today`s most demanding social problems. It`s not a typical first-world “we know the best” approach, rather a businessman making his journey into the real world, finding different vision every time he fails and happily using his optimistic character to strike problems. In the book, he compared poor people with 'bonsai ' tree and remarked that if we could help poor people out of poverty by creating an enabling environment, then it is a matter of time to resolve worldwide poverty problem. Rather than having an NGO or IGOs doing something for the unprivileged why not help them to get out of their own problem? I think this idea has more lasting effects since top-down approaches have …show more content…
He has a lot more work to do first. Then again, he probably encountered a bit of skepticism when he first floated the idea for microcredit, too. But anyway, some potential flaws would be that in present, too many organizations fall outside Yunus’s definition of a social business and by dismissing them, it could constrain their activity and discourage innovation. The encouragement which people got from money, pushed their expectations and allowed them to create the best among others. The field in business is already highly competent, and it`s natural to seek as much capital as possible. Thus, there won`t be many people who`d give up such opportunity and limit the capital available to them. Furthermore, Yunus’s brand of social business allows profits to be earned, but only if totally owned by the poor. But he doesn’t say how poor these “poor” must be, and isn’t clear about what happens if the social business succeeds and the owners become less poor. Are these social businesses then disqualified? And lastly, it is questionable if any poor person can be able to do social business in his/her community. Seems like, it requires entrepreneurial and economic skills as well to succeed. If one doesn`t have a these, it can be problematic. Even if you have the skill, what happens if your consumers don`t have the capacity to buy or trade stuffs with you? Would you then fail? In the book, he was inviting people to join his plan promising “You don’t need to know ‘how to do business,’ much more important is your desire to solve a social problem”. But isn`t a practical knowledge about doing business will be useful when you are trying to start a business? You can learn as you go along but it`s not guaranteed. Either way, it’s hard to fault Yunus’ intentions and his optimism. Those things have already taken him awfully