A Quote by Muhammad Yunus
Engaging in social business is beneficial to a company because it leverages on business competencies to address social issues, involves one-time investment with sustainable results, and produces other positive effects such as employee motivation and improved organizational culture.
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We have a series of regular meetings with South African business. Big business. Black business. Agriculture. As well, of course, with the trade unions. A whole series of meetings like that which engage issues that these South African social partners need to address.
While creating a social brand is a necessary endeavor, building a social business is an investment...
A large social-media presence is important because it's one of the last ways to conduct cost-effective marketing. Everything else involves buying eyeballs and ears. Social media enables a small business to earn eyeballs and ears.
When private sector, government, social, and philanthropic leaders apply innovative partnerships and technologies to address social challenges and build sustainable communities, the impact is multiplied.
Provocative and challenging The Social License makes a compelling case for why companies must look to increase their positive social impact as an integral part of their core business strategies.
In a family business, you grow up with close contact to the business, whatever it is, and the beer business is certainly a very social type of business.
While our managers debated what steps to take to address the sales and cash-flow crisis, I began to lead week-long employee seminars in what we called Philosophies. We'd take a busload at a time to places like Yosemite or the Marin Headlands above San Francisco, camp out, and gather under the trees to talk. The goal was to teach every employee in the company our business and environmental ethics and values.
The basic building block of peace and security for all peoples is economic and social security, anchored in sustainable development. It is a key to all problems. Why? Because it allows us to address all the great issues-poverty, climate, environment and political stability-as parts of the whole.
Theater has an incredible capacity to move people to social change, to address issues, to inspire social revolution.
Business is the most powerful force in society. It has the highest potential for solving social problems. Once consumers saw examples of prosperous companies integrating social concerns into their business practices, they were emboldened to demand the same of other businesses. Businesses could no longer say it was impossible.
I tell my graduate students [at Bard College], ‘There are two ways to change the world: through policy, or through sustainable business.’ With sustainable business, individuals build solutions within the current system… Sustainable business asks, ‘How would nature do this?’
If you have a strong business idea, then it is comparatively easy now to get capital. It is a positive thing that increasingly more people want to join the startup bandwagon. However, to build a successful business, focus on creating more value through the product, and direct your efforts on solving real issues. If you manage to build a sustainable product, revenue will follow. A lot of startups fail because they concentrate on incremental innovations, increasing user base, and monetisation before strengthening the core of their business.
In the coming years, if not sooner, social media will become a powerful tool that consumers will aggressively use to influence business attitudes and force companies into greater social responsibility - and, I suggest, move us towards a more sustainable practice of capitalism.
It's extremely hard to build a company with a product that everyone loves, is free and has no business model, and then to innovate a business model. I did that with Kazaa, had half a billion downloads but that wasn't a sustainable business.
The best way for business to move out of the Hall of Shame is to demonstrate a commitment to social causes. This also makes business sense. A focus on solving social problems has motivational benefits in lean economic times.
The truth is that capitalism has not only multiplied population figures, but at the same time, improved the people's standard of living in an unprecedented way. Neither economic thinking nor historical experience suggests that any other social system could be as beneficial to the masses as capitalism. The results speak for themselves. The market economy needs no apologists and propagandists. It can apply to itself the words of Sir Christopher Wren's epitaph in St. Paul's: Si monumentum requires, circumspice.
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