Global forum to tackle new business model for creating real,
sustainable social impact
By simply capitalising on core strengths and knowledge, companies and entrepreneurs can engage in an emerging business model that will enable them to create – and demonstrate –real, sustainable social impact in society.
This business model is aptly called social business and is the focus of the fifth Global Social Business Summit (GSBS) to be held at the Kuala Lumpur Convention Centre on 7-9 November. With the theme “Social business to change the world by changing individuals, communities, villages, cities and countries,” the forum’s speakers include Nobel Peace Prize Laureate Professor Muhammad Yunus, Prime Minister Najib Razak and Hans Reitz, co-founder of The Grameen Creative Lab, among others.
Organized by The Grameen Creative Lab, Yunus Centre, and Youth Trust Foundation (myHarapan), the GSBS is an annual summit that showcases best practices and promotes discussion and collaboration among practitioners, stakeholders and experts from all over the world and across all sectors.
Social business, introduced by Nobel Peace Prize Laureate and The Grameen Creative Lab co-founder Professor Muhammad Yunus, brings together the efficient and innovative methods of business and the task of solving social problems such as poverty, healthcare, education or energy access.
“The current economic and financial crisis makes it very clear that the system that we have is not sustainable, and thus it is the right time for us to change the ways we do business and build them in a new way,” says Professor 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 organisational culture.
“The growth of the social business sector is advantageous to profit-making companies – once problems of homelessness and poor welfare are solved, people will come to the market and buy more of their products. So the larger the social business sector grows, the stronger the business sector becomes,” explains Professor Yunus.
With the mission to redefine the manner of doing business, The Grameen Creative Lab, and its team of experts, can help every organisation engage in a social business, from idea development to implementation and communication.
For more information about myHarapan, a foundation dedicated towards empowering young Malaysians, visit www.myharapan.org.
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