What is Social Entrepreneurship and Why the World Needs More Social Entrepreneurs
February 12, 2025
Employee satisfaction ensures employees are happy with their jobs and also give their heart and soul to the organization. Such people seldom think of changing their jobs and motivate not only themselves but also others to work hard for the betterment of the organization. Let us go through few factors influencing employee satisfaction: Working conditions […]
Most of training is either technical or behavioural in nature, but there are still other trainings that are neither. These fall under the ambit of special training programs and are conducted with an agenda of smoothening the work process within the organisation. Workforce diversity can be both positive and negative for the organisation. Positive in […]
Innovation according to Peter Drucker Innovation is the buzzword among many companies operating internationally as well as in the domestic economy. Increasingly, the ability of an organization to innovate is being seen as a source of competitive advantage. The well known management expert, Peter Drucker throws light on the “sources of innovation” as well as […]
Succession planning is one of the most important career development tools used by organizations. This is done to determine the backups for each senior position by identifying and training the executives who are at the next-lower levels. This is an important process as most organizations rely on it to find their next CEO and other […]
Employee Stock Option Plans (ESOP’s) are one of the most popular ways in which modern startup companies reward their early employees. In Silicon Valley, many companies such as Google and Facebook have used Employee Stock Option Plans (ESOP’s) to lure the best talent from the market. Since these companies have become very successful, there are […]
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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