What is Social Entrepreneurship and Why the World Needs More Social Entrepreneurs
February 12, 2025
The Recruitment and Onboarding of New Employees in Virtual Workplaces With much of the corporate world operating virtually and where WFH or Work from Home is the New Normal, HR (Human Resources) personnel find it challenging to conduct regular HR work in such models. This is because unlike in physical offices, they cannot come face […]
With the ever evolving and diversifying business challenges, the approach to the management of human resources has also undergone a paradigm shift. The competitive advantage achieved through technology, new products and information is short lived and vastly evaporating. The only distinguishing feature from the competition which remains, are the skills and contribution from the employees. […]
Labor-Management relations are the most complicated set of relations that any HR Manager has to deal with. Efficient maintenance of labor relations helps the HR Managers in developing a harmonious environment within the organization which, in turn, helps the organization in effectively achieving its goals and objectives. Well-managed labor relations provide a competitive advantage to […]
Introduction: HRM in the Industrial and the Post-Industrial Eras The field of HRM or Human Resource Management has evolved from the time HR managers were primarily responsible to settling labour disputes and taking care of payroll during the Industrial Era to the time where they were primarily tasked with enabling performance, empowering employees, and providing […]
An imbalance between the personal life and work life can have serious or adverse effects on the health and well-being. This imbalance usually occurs when the boudaries between the professional life and personal life are not clearly demarcated and followed with a discipline. Work-life imbalance leads to emotional stress, depression and anxiety. Extensive studies and […]
The idea of social business was given by Prof. Muhammad Yunus of Bangladesh. It was unique because unlike other concepts or businesses that were serving the society for namesake, social business was based on certain principles. These principles are seven in number and are called the principles of social business.
Like any other principle, the seven principles of social business define the purpose of a social business and its modus operandi. They outline the priority sectors for any organisation or individual that aims to venture into the field and also define the how the financials would be managed.
These seven principles were given by Prof. Muhammad Yunus in collaboration with Hans Reitz who is also the co-founder of the Grameen creative Lab. These principles are very simple in nature and easy to follow. They are important because they draw a distinction between social business and other businesses carried out in the name of contributing to social welfare.
The seven principles of social business are followed world over by organisations that either promote or run social businesses. Ashoka, the Omidyar network, NIKA water company in U.S, Grameen Bank in Bangladesh are examples of such organisations.
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