5.

0 Future of the Social Business:

Development and growth of social Business in future: Social Business concept is the most thriving concept in todays world. Peoples intention to help other people and remove social problems are now breeding the new social entrepreneurs around the world. A global infrastructure of social business is in the making for the development of social business. Dr Md. Yunus, in his book Building social Business, pointed out several prospects of social business that are delineated below. 5.1 University Centers for Exploring and Nurturing Social Business: According to Dr. Yunus, Social business will flourish in future if a strong global infrastrucure is created. Universities can play an important role in developing the future of social business. They are centers where enormous pools of experise are locate-Knowledgeble professors and researchers who have studied and participated in practically every field, from business and econmics to healthcare, government, social serivices, engineering, information technology, and so on. Students can also play a great role in building future social business infrastructure. They are a lot of university centers being established for future social business development. Several projects are already under way at Kyushu Universy, japan, Including: One village, one portal- an experimental program for using high-tech information systems to collect and organize all kinds of social, economic, educational, agricultural, and cultural information about a particular village in Bangladesh, as a way of facilitating creative thinking and planning for sustainable solutions to social problems. E-Healthand E-Agriculture projects for managing health records and agricultural information and making the data readily accessinle by individuals and the institutes that serve them. An E-passbook system that could be used by Grameen Bank borroewers for managing their savings, borrowing, and other financial services. Alternative power source experiments, testing new ways of genrating, storing, transmitting, and using sustainable energy sources-solar, wind, beiofuel, and so on.

Solutions devised by the students and faculty at Kyushu University will be applied first in Bangladesh, then adapted for use in other developing countries. 5.2 Social Investment Funds: To support the growth of social business, it will be important to create a number of investment funds committed to supporting social business. Such funds will offer a number of services. They will study and evaluate fledgling social businesses, measuring their effectiveness in pursuing social goals and their financial and mangerial efficiency, so that investment funds can be channeled to the most promising new ventures. They will serve as clearing houses for information and ideas about social business, as their managers will quickly become some of the worlds leading expertss in what works, and what doesnt in the social business arena.

Several socia business funds are already in the works. One is being developed in the pricpality of Monaco under the sponsorhip of Prince Albert, that countrys hereditary ruler. Known as the Yunus Monaco Fund, it will be a joint venture between the Yunus Centre and the Monaco Venture Capital and Private Equity Association The intial funding target will probaby be set around 100 million dollars. Another fund is being planned in Germany. And the Islamic Development Bank in jeddah, saudi Arabia, has announced plans to lauch the IDB grameen Social Business Initiative with an initial investment of more than 10 million dollars. 5.3 Social Stock Market: future, Social Business will continue to greow, gradually forming a parallel world alongside the familiar universe of profit-max-imizing businesses. Social business companies will spring up in every country where free enterprise exists, and they will operate in almost every market and business arena, from consumer goods and services to corporate services, supplying, and outsourcing; and from finance and banking to information technology and heavy industry. Investment funds focused on social business will continue to mltiply, and so will providers of services and products to help support this expanding universe-for example, investment sources that concentrate on news and analysis about social business companies. According to Dr. Yunus, there will be two different kinds of shares being traded in the social stock market: Shares on which the original investment amount has already been repaid, and those where this is not the case. The first categoryof shares might be called mature on the analogy of bonds. When an investor buys a mature share in a social business, he or she cannot expect to receive any dividend from the company, because the original investment money has been fully repaid. However, a share that is not yet mature will carry with it the expectation of repayment, whichof course will affect the shares value. Shares that are partialy paid out will have their own demand and supply shcedules. This is one reason we need a social stock market; it will facilitate discovery of the market price for shares in a given transaction. 5.4 Some Social Business in their Infant stage: There are some Social Businesses that are in the making and yet to be materialized. Social Business are now spreading all the industries including technology , health and textiles. Here we describe some of the future social business examples that are in the making. 1) BASF Grameen In 2008, Grameen Healthcare Trust and BASF (Germany) got together and created BASF Grameen: a joint venture to develop an affordable and efficient mosquito net. And as an addition to the mosquito net project, this joint venture has also started the production of micronutrient sachets to sprinkle on food, in order to provide to poor people daily diet with essential nutrients to prevent contagion.

Model of BASF Grameen

The activities of BASF Grameen can be summarized in the following way:

2) Grameen Reebok The joint-venture social business, Grameen Reebok, will design and market shoes that are affordable even to the poor, and it is currently test-marketing its first prototype product. The test marketing has been very successful; the responses of the village consumers to the design and style have been positive. For the first time, the rural poor are being seen as a sought-after consumer base, and they have been very involved in the development of all of our social business products. The activities of Grameen Reebok can be summarized in the following diagram:

3) Otto Grameen Trust Otto Grameen Textile Company is an example of a Type II social business. It will be a for-profit company that will operate in the conventional market, producing clothing in Bangladesh for export sale. It is unique in that it is owned by a trust, the Otto Grameen Trust, and profits generated from the textile company will be held by the trust and used for a pre-determined cause that will benefit the employees and the local community. In addition to receiving the benefits of the Trust, the workers will have

dignified working conditions and social services, representing a greater company investment in the employees. 4) Grameen Fiberglass Grameen Fiberglass is a joint venture with IHS Fiberglass, which is owned by a Bangladeshi ex-pat who wanted to give back to his country in a sustainable manner through social business. It is the first Grameen partnership with a Bangladeshi business owner. This joint venture company will introduce fiberglass products to Bangladesh. The first product offered will be biogas tanks, to popularize the use of biogas as a sustainable, ecologically sound source of renewable energy. Grameen Fiberglass will also expand to produce fiberglass roof tiles, which can be assembled into a raft during the annual monsoon season. It will also produce pipes to improve sanitation and sewerage, as well as fiberglass building materials, boats, and furniture. 5) Grameen Intel The Intel Corporation has created a social business company called Grameen Intel to bring information technology-based services to the poor in healthcare, marketing, education, and remittances. In two clinics in Savar, Bangladesh, mobile healthcare workers equipped with smart phones provided by Grameen Intel are using technology to assess the risk profiles of pregnant mothers who have limited access to medical care in their home villages. 6) Grameen Yukiguni Maitake Japans leading agro-company Yukiguni Maitake Co. (YMC), Ltd signed a joint venture agreement with Grameen Krishi Foundation (GKF) for establishing a new social business in the field of agriculture. The joint venture aims to produce high quality mung beans in Bangladesh for both domestic consumption and export to Japan. This joint venture social business undertook production of the mung beans by local farmers affiliated with GKF.The objective of this social business joint venture idea is to enhance income of the farmers, particularly for the village women who will be engaged in the processing of mung beans for export market. The company is offering healthcare services and scholarships to children of farmers, as well as bringing new technologies to the farmers.

7) Grameen Felissimo This joint venture company will produce clothing in Bangladesh with a specific pattern similar to Grameen Check for sale by Felissimo, a popular mail-order marketer of clothing. Earlier this year, Felissimo launched an international design competition where the winning design will be used as signature pattern for the clothing line. The Grameen Felissimo fabric will be hand-woven by impoverished rural women. This new initiative will create many jobs for people that have previously been considered "unemployable", giving them a change to lift themselves and their families from poverty. 5.5 Growing importance of social business in achieving MDG goals Seven actions that social business companies can take to contribute to the MDGs: Conduct core business operations responsibly. Fight inequalities in business operations. Develop trust by ensuring responsible policies and practices are consistent throughout the business. Ensure social value and benefits to poor people are key drivers. Make initiatives sustainable. Anticipate any adverse consequences that their decision-making might have on poor vulnerable communities. Support governments in achieving the MDGs.

Findings:
The variability of the opinions of many experts provides huge scope for policy and learning interventions to promote and strengthen Social Business all over the world. The objectives of social business must match with the findings delineated in the whole report. Our overall findings are given below: 1) A social business is a non-loss, Non-dividend Company designed to address a social objective within the highly regulated marketplace of today. The theory is- profits are used in a manner in which they may expand the companys reach and improve the product or service to a greater extent than a traditional for-profit corporation. Social Businesses sell products and services that contribute to poverty reduction. They integrate the rationales behind both the private and social sectors.

2) Social Business and traditional for profit business are in found different the following ways: Traditional Business: Profit maximization. Market oriented. Social Business: Community development. Social oriented.

Traditional Business Model:

Social Business Model:

3) From this report we found that the financing of social business may be in the following ways: Companies. Philanthropy. The General Public and Employee Saving. a. Solidarity Funds. b. Shared-return funds. Institutional investors. Public Corporation Agencies. State support. 4) The key principles of social business direct the business operations. The key principles are Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization. Financial and economic sustainablity. Investors get back their investment amount only. No dividend is given beyond investment money. When investment amount is paid back, company profit stays with the company for expansion and improvement. Environmentally conscious. Workforce gets market wage with better working conditions. ...do it with joy

5) Social Business and Non-governmental organization are distinguished in the following in the way: NGO: Depends fully on charity or donation. Uncertain existence. Limitation of working scope (unable to continue multiple supports by a single N.G.O). Suffers from deficit of fund.

Social business: Starts with investment generous group. Longevity. It can be expanded to innumerous social problems. 6) Social Business can remove social problems especially poverty in the following ways: Employing or creating job for the poor. Supplying good value products at minimum price. Offering standard education to the poor. Ensuring habitation to the poor. Improving financial solvency. Ensuring food security.

Social Business development strategy are same as the traditional business. The investors are to conduct all the same activities that are generally done in profit seeking business like: Market research. Segmentation. Targeting. Funding. Product development. Product in the market. Positioning. 7) Social Business branding is the most important part for this success. Socia business, like any other business, requiers to build a successful brand image in the market. Brand awareness is the key to social business promotion. Besides, identifying the brand mantras and brand equity factors will play a great roles in achieving long term goals of business. 8) Social Business is commercialized following unique marketing strategies and Promotional campaign. The key maketing system of social business is comprised of demographical, societal, physical, economic and politicial elements. The marketing mix including product, price, place and promotion must be applied in commercialization of social business. A coherence of these elements will result in success in building long term customer value in the market.

9) Though social business benefits the society through removing social problems, a thorough analysis of the report finds out some of its limitations including: Hard to make understand for the poor. Hindered by non profit stigma. Do not attract the talent. Social business investment lacks a definition for success. Simultaneously not collaborating and not competing. Seeking for widespread reputation very soon by the investors Unequal service in the eye care hospital for rich and poor. Crating traffic jam by introducing a rickshaw project. Lack of financial solvency. Not available support by the government. But all of these limitations can be overcome if the effective measures are taken for the societys greater benefit. Besides, the limitations are always overshadowed by the value we get from this business. 10) As it is in the infant stage, experts dont have clear concept about Social Business yet. 11) As it is run as like as traditional business sometimes price fluctuation may affect poor people. 12) Motivating investors is the crucial factor in managing fund. 13) Most of the employees and investors of social investment feel satisfied as they are serving for the betterment of the community. 14) There is no uniform guideline by the governing bodies regarding Social Business. 15) Social Business are now integrating itself with different industries such as technology, healthcare, clothing, and others. As the problems in society are on the rise, the prospect of social business seems to be bright. 16) Finally, we can say that Social Business are playing a very vital role in are alleviating poverty and achieving MDGs.