The 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 just profit maximization.
Financial and economic sustainability.
Investors get back their investment amount only. No dividend is given beyond investment money.
When the investment amount is paid back, company profit stays with the company for expansion and improvement.
Every social business is environmentally conscious.
The workforce gets a market wage with better working conditions.
.do it with joy. Social business is about making the world a better place.
Social Business is defined by Professor Yunus as:
“A structure that harnesses the energy of profit-making to the objective of fulfilling human needs, social business creates self-supporting, viable commercial enterprises that generate economic growth even as they produce goods and services that make the world a better place”.
Professor Yunus’s concept of social business begins with a social need which is addressed by a sustainable business model. All social business models follow the 7 principles of social business.
Below is a video from when Professor Yunus spoke at the University's Social Business Summit.