Tuesday, June 22, 2010

Social Business Conference

I'm going to travel with the AA teachers Fatema, Tamanna, and Matt, as well as some administration, 24 Access Academy students, and three undergraduate students to the Social Business Conference in Dhaka. We get to stay in a hotel, while the students will be in the guesthouse. We are taking a bus up on Saturday around noon, and have all of Sunday to tour around Dhaka and go to museums and such. We'll return early Tuesday morning.
The purpose of the conference is to observe the first international Social Business Day (June 28th, 2010), which celebrates Nobel Laureate Professor Muhammad Yunus’s concept of social business and its implementation on the ground. It is also being observed in New York City, Tokyo, Fukuoka, Buenos Aires, Wiesbaden, and Johannesburg.
A social business dedicates itself to address humanity’s most pressing concerns, and is defined as a non-loss, non-dividend company dedicated to meeting social needs; such as ensuring affordable healthcare for all, promoting better nutrition for children, creating employment for the unemployed, moving towards a safer environment, enhancing the process of women empowerment and providing safe drinking water. In social business, the investor gets the investment money back over time, but never receives dividend beyond that amount. All profits of the social business go towards improving the product or service provided and increasing its reach.
The goals of Social Business Day are to:
Social Business Day will:

•encourage the participants to discuss the critical features of social business, merits, achievements, and challenges of social businesses;
•discuss the plans for upcoming social businesses;
•explore future social business opportunities;
•and inspire individuals, entrepreneurs, students, foundations, and companies to create their own social businesses.

Professor Yunus will be giving a speech with Q&A, as will various other notable Bangladeshi businessmen, and there will be a book signing for Yunus' latest book, Building Social Business: The New Kind of Capitalism that Serves Humanity's Most Pressing Needs.
I'm going to get a signed copy of his book, so if you are interested in reading it, just borrow it when I get home!

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