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Type I social business: The business objective is to overcome poverty, or one or more problems (such as education, health, technology access, and env… - Muhammad Yunus
" "Type I social business: The business objective is to overcome poverty, or one or more problems (such as education, health, technology access, and environment) that threaten people and society — not to maximize profit. The company will attain financial and economic sustainability. Investors get back only their investment amount. No dividend is given beyond the return of the original investment. When the investment amount is paid back, profit stays with the company for expansion and improvement. The company will be environmentally conscious. The workforce gets market wage with better-than-standard working conditions. Do it with joy!!!
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About Muhammad Yunus
Muhammad Yunus (Bengali: মুহাম্মদ ইউনুস Muhammod Iunus) (born June 28, 1940) is a Bangladeshi banker and economist. He is the developer and founder of the concept of microcredit. In 2006, Yunus was awarded the Nobel Peace Prize.
Biography information from Wikiquote
Also Known As
Native Name:
মুহাম্মদ ইউনুস
Alternative Names:
Professor Muhammad Yunus
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Muhammad Iunus
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Additional quotes by Muhammad Yunus
My experience with Jobra’s deep tubewell convinced me to turn my focus on the landless poor. Soon I started arguing that wherever a poverty alleviation program allowed the nonpoor to be copassengers, the poor would soon be elbowed out of the program by those who were better off. In the world of development, if one mixes the poor and the nonpoor in a program, the nonpoor will always drive out the poor, and the less poor will drive out the more poor, unless protective measures are instituted right at the beginning. In such cases, the nonpoor reap the benefits of all that is done in the name of the poor.
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