With all due respect, I would like to inform you that it is an incredible joy for me to present the report on Social Business Creation as a prerequisite for the BBA program. While leading the work report, I collected a lot of information about social entrepreneurship and the process of social entrepreneurship. Harunur Rashid, ID Major in Finance, effectively completed the internship program and prepared a report entitled “Development of Social Business”.
First of all, I would like to thank Almighty Allah for giving me good health to complete this report on time. Fatema Nusrat Chowdhury for her continuous support and guidance throughout the making of this report. Without the cooperation and help of these people I would not have been able to complete this study.
Finally, I would like to thank all members of the Social Business Student Forum for their support and understanding during the completion of this report. By making poor people owners of a business or enjoying the business by providing them with products or services without making any personal profit, the concept of social entrepreneurship, which is based on seven principles, was created by noble laureate Professor Dr. Social entrepreneurship created a new dimension and showed an innovative way to solve these social problems.
At the same time, this report will also address how to develop a social business by solving social problems.
Introduction
Scope of the Study
Objective of the Study
Methodology of the study
Limitation of the Study
Defining Social Business
Social business VS conventional business
Characteristics of Social Business
Types of Social Business
Social Business Diagram
If the social business is owned by poor people, the product can sell to any class person at the market competitive piece. On the other hand, if the business is owned by people or organization other than poor, they will sell the product or service to the poor at a reduced price to make a minimum possible profit. One exception that can be added to the diagram is if the business is not able to make a profit by selling at the reduced price, they can sell their product at competitive price to the customer other than poor.
Social Business Process
- Mission Statement
- Opportunity
- Social Innovation
- Business Model
- Outcomes
Suitability: Does the aspiring entrepreneur have the fundamental knowledge, capacity and skills to successfully launch a social venture and solve a problem. For example, if the government is having trouble effectively solving a social problem, there is a need and opportunity for outside help from a social entrepreneur to come up with a new solution through a social venture. A new factor of production, which involves new inputs or a new way of using resources.
A value proposition, which is the benefit a business offers through products and services. A relationship that describes the communication strategy and the type of connection that the company establishes with customers; distribution, which describes the different channels a company uses to reach its customers. A company's governance model and includes a set of processes or laws that govern the relationship between stakeholders as well as the objectives for which the company is managed.
Value chain, which refers to the chain of activities of a company operating in a specific sector. Competencies, which outline a company's specific range of skills (skills, knowledge, or abilities). Partner network, which refers to the network of cooperation agreements with other organizations. needed to efficiently offer and distribute value.
Principles of Social Business
Social Innovation
This phase is the exploration of all the factors that highlight the need for innovation – such as crises, cuts in public spending, poor performance.
Background
Addressed Social Problem
In general, the patient goes to the hospital for treatment with us, and we take the doctors to the patient's doorstep. So whoever is not tough enough to pay in installments can provide one labor force from his family for our oil production.
Nature of the social enterprise
We have also planned to increase the number of vans, doctors and medicine stock in the future to cover the full rural market of Bangladesh. We will start our business small, so we also have some limitations like we won't be able to handle big treatment or surgeries through portable medical services. Therefore, we will negotiate with the private hospital for major treatment and operations.
However, after the establishment of our portable medical service, we will also establish a physical medical care social enterprise for the treatment of serious diseases.
Mission
Mission Orientation
Vision
Nature of our current opportunity
SDG’s that we are covering
Business Policy
Turning Idea into Business
Implication of idea
Service Cycle
Everything about MediSure's business policy and payment system and membership qualification will be written in this agreement. In this step, MediSure will deliver the service to the specific patent according to the service agreement and policy.
Business Model
They are relevant in the sense that we will provide some value to the service recipient or target customers. We will offer weekly installment payment to the patients so that they can easily afford the amount. We will have an agreement with a patient that he is obliged to repay the installment amount.
We will also offer work opportunities for families with zero income or who cannot even afford the installment for the repayment of our service provided. Finally, fixed patients are those who should regularly check their sugar and blood pressure and should be updated with a check. We will need a central courtyard which is accessible to most people in that area.
By providing a service to our service provider, we will try to build a long-term relationship based on trust. Now we need some resources and activities to make this plan work. We need doctors, medicines, investors, medical equipment, a van and human resources. Our activity will be the correct distribution of resources. We have some variable costs, we will deduct doctor costs, drug costs and other costs and make a profit.
Service Pricing Strategy
MediSure makes social equilibrium by providing health treatment to the poor people for this, the poor people can take medical treatment like reaching people. Social business is in its early stages and only the future will be able to tell about its impact on society. At least Social Business created a little shake for the business world and helped people to reconsider that there is another way of doing business to solve social problems.
MediSure brought an innovative idea to solve health problems of rural Bangladesh by providing healthcare services at their doorstep. Apart from solving health problems, MediSure also covers some other social issues like solving unemployment and poverty. The United Nation aims to solve fundamental health problems from the universe by 2030, and social business can be a true partnership to achieve this goal.
According to Josh Billings “Health is like money; we never have a real idea of its value until we lose it.” So everyone should be aware of their own health and social companies can do the rest to address health issues around the world.
