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Management 13th Edition by John Schermerhorn,Daniel Bachrach
Edition 13ISBN: 978-1118841518Management 13th Edition by John Schermerhorn,Daniel Bachrach
Edition 13ISBN: 978-1118841518 Exercise 18
LEARN FROM ROLE MODELS
"Now every time I want to address a problem, I create a business... we can create a world where poverty doesn't exist."
Nobel Peace Prize Winner Asks Global Firms to Fight Poverty
S hould global businesses balance the pursuit of profit with genuine efforts to do public good A strong and positive "Yes!" is the answer offered by economist and Nobel Peace Prize winner Muhammad Yunus. He gained fame for creating the Grameen Bank to offer microcredit loans to help fight poverty in his home country of Bangladesh. The bank loans small amounts (as low as $30) to applicants of low income (96% of whom are women) so that they can start their own small businesses and establish financial independence. This model of microfinance has now spread around the world, serving some 200 million borrowers.
The next step for Yunus has been to ask global firms to unlock the power of business to tackle poverty and other enduring social problems. In his book Creating a World without Poverty , Yunus advocates a social business model whereby a company's products or services are targeted to benefit people suffering from social ills. "Now every time I want to address a problem, I create a business" that he says is "focused on problem solving, not on money making."
Yunus's call to the global business community was heard by German yogurt maker Danone. Danone joined with Yunus to start Grameen Danone as the world's first multinational social business. It manufactures nutritional yogurt and sells it at low prices in Bangladesh to help the 46% of local children who are undernourished. Profits are reinvested rather than paid out as dividends.
"We can create a world where poverty doesn't exist," claims Yunus, who hopes that "at least 1 percent of the world economy be made up with social business" within five years. He was awarded the Congressional Gold Medal in 2013 in recognition of his efforts "to combat global poverty."
FIND INSPIRATION
When a multinational company travels into countries where social problems like poverty, disease, and illiteracy are present, should it find a way to help Can the social business model work in the global business context Or is this something most likely to remain "unusual" rather than "common" in the future Do you agree that global corporations can become powerful tools for eliminating social problems Why or why not
"Now every time I want to address a problem, I create a business... we can create a world where poverty doesn't exist."
Nobel Peace Prize Winner Asks Global Firms to Fight Poverty
S hould global businesses balance the pursuit of profit with genuine efforts to do public good A strong and positive "Yes!" is the answer offered by economist and Nobel Peace Prize winner Muhammad Yunus. He gained fame for creating the Grameen Bank to offer microcredit loans to help fight poverty in his home country of Bangladesh. The bank loans small amounts (as low as $30) to applicants of low income (96% of whom are women) so that they can start their own small businesses and establish financial independence. This model of microfinance has now spread around the world, serving some 200 million borrowers.
The next step for Yunus has been to ask global firms to unlock the power of business to tackle poverty and other enduring social problems. In his book Creating a World without Poverty , Yunus advocates a social business model whereby a company's products or services are targeted to benefit people suffering from social ills. "Now every time I want to address a problem, I create a business" that he says is "focused on problem solving, not on money making."
Yunus's call to the global business community was heard by German yogurt maker Danone. Danone joined with Yunus to start Grameen Danone as the world's first multinational social business. It manufactures nutritional yogurt and sells it at low prices in Bangladesh to help the 46% of local children who are undernourished. Profits are reinvested rather than paid out as dividends.
"We can create a world where poverty doesn't exist," claims Yunus, who hopes that "at least 1 percent of the world economy be made up with social business" within five years. He was awarded the Congressional Gold Medal in 2013 in recognition of his efforts "to combat global poverty."
FIND INSPIRATION
When a multinational company travels into countries where social problems like poverty, disease, and illiteracy are present, should it find a way to help Can the social business model work in the global business context Or is this something most likely to remain "unusual" rather than "common" in the future Do you agree that global corporations can become powerful tools for eliminating social problems Why or why not
Explanation
Verified
Verified
Multinational corporations travel across...
Management 13th Edition by John Schermerhorn,Daniel Bachrach
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