Video: Muhammad Yunus Talks to Tina Brown About Social Business, Charity, and Grameen Bank
What is a social business, and can it serve the poor and make money for investors at the same time? SEE VIDEO of Nobel Laureate Muhammad Yunus in conversation with Tina Brown.
What is a Social Business?
Dr. Muhammad Yunus changed the world of finance with the idea of microcredit lending to the poor, as practiced by his Grameen Bank. Now Yunus is determined to make the same impact by promoting the concept of “social business.” What does he mean?
It Sounds Good, But Can It Really Work?
In 2006, Grameen made a unique partnership with Danone to attack the problem of child malnutrition in Bangladesh by distributing nutrient-rich yogurts formulated especially for the poor. Yunus discusses how Grameen Danone Foods was formed and how Danone’s shareholders embraced the idea.
Why Young People Prefer Social Business to Big Business
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The idea that our brightest, business-oriented college students flock to Wall Street rarely gets challenged, but Yunus says that in his experience, there is a great deal of enthusiasm among finance-minded young people for creating and developing social businesses.
Another Innovation: The Social Stock Exchange
A social stock exchange? Sounds like a difficult idea to implement, but Yunus says it can be done.
Are Women Better Microcredit Borrowers Than Men?
Yunus addresses two audience questions about microcredit lending: Will American borrowers be as good at paying back their loans as borrowers in other countries? And, from another audience member, are women generally more responsible borrowers than men?
The Big Question: Who Will Run Social Businesses?
It’s wonderful to talk about social business and their potential, but running any kind of business requires real talent. And given what the “talent” on Wall Street has done, do we even want that kind of person involved?
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