It gives me immense pleasure to have the opportunity to hand over the internship report on "Social Business & Sustainable Development Goals". This internship program has given me the chance to work with "Social Business Creation" competition organized to solve social problems to achieve sustainable economic development with the power of Business. He has prepared this internship report on the topic of Social Business under my direct supervision.
At the same time, this report will also discuss how social entrepreneurship can help achieve sustainable economic development by solving these social challenges. Although the social enterprise is a pioneer in its objectives, the management of the social enterprise follows the traditional path. The social business workforce is educated and also receives competitive wages.
The practice of social entrepreneurship can be a faster and easier way to achieve the United Nations Sustainable Development Goals. Yunus Social Business Center currently works at 11 locations in 10 countries to promote social entrepreneurship and achieve sustainable development. Because Social Business and the United Nations Sustainable Development Goals have a common vision, Social Business can be an innovative dimension to achieve sustainable development.
Scope of the Study
Ellie Ward of the British Council said that "Once poverty has passed, we will need to build museums to display its horrors for future generations". This is the vision of Professor Muhammad Yunus. It is also the vision of the UN member states that created the Sustainable Development Goals.”
Objectives of the Study
Methodology of the study
Limitation of the Study
Chapter: 02
Social Business Overview
- Social Business
- Types of Social Business
- Business must focus on social objective to achieve and also business must make profit
- Business must focus on social objective to obtain and also business must make a profit
- Social Business Model
- Seven Principles of Social Business
- Objective of the Business: While traditional business starts their operation focusing on generating profit or maximizing wealth, social business starts with an objective of
- Financial and Economical Sustainability: Social business must be financially sustainable as well as economically viable so that the business can return all the investment
- Work with Happiness: The happiness of traditional business owner comes from the success of business in term of profit/wealth maximization but the happiness of social
If the business is functioning normally and is able to make a profit, it will start returning the investment amount among owners and investors. A business can also be classified as a social enterprise if it is owned by the poor and therefore the profits work directly towards achieving the social goals of the business, hence this second definition. The main difference between a social enterprise and a profit-maximizing enterprise is that social enterprise is not for personal profit, but for solving social challenges and doing social welfare.
Muhammad Yunus “A charity dollar has one life, a Social Business dollar can be invested again and again” (Yunus Social Business, 2011). In this category of social enterprises, the business owner must be poor and able to make a profit from the business. The social business model will depend on the individual business structure and there is no pre-planned model for every social business.
If the social business is owned by poor people, the product can sell to any class person at competitive market. Objective of the business: While traditional business starts with a focus on generating profit or maximizing wealth, social business starts with an objective to generate profit or maximize wealth, social business starts with an objective to solve social problems to speak and design a business to solve social issues. Owners of the business get no personal benefit where traditional businesses are run for personal gain.
Financial and economic sustainability: Social entrepreneurship must be both financially sustainable and economically viable so that the company can recoup all investments. Market-competitive wages: Although social entrepreneurship is driven by a social purpose, the workforce lives in the current times. Work with happiness: The traditional business owner's happiness comes from the success of business in terms of profit/wealth maximization, but the happiness of the social success of business in terms of profit/wealth maximization, but the happiness of social entrepreneurship comes from contributing to society. a selfless work.
Owners and workforce must be happy about what they do for the company. A social enterprise is designed and run as a business enterprise with products, services, customers, markets, expenses and revenues – but with the principle of profit maximization replaced by the principle of social benefit (Yunus, Creating A World Without Poverty: Social) Business and the Future of Capitalism, 2008).
Chapter: 03
Sustainable Development Goals & Social Business Competition
- Sustainable Development Goals
- End poverty in all its forms everywhere: UN targeted to end the poverty in a stable form
- Quality Education: Education is the key to prosperity and it opens a world opportunities
- Gender Equality: Discrimination between male and female reduce the potentiality of economic growth also it deny to live their life fullest. So this goal targets to end
- Clean Water and Sanitation: Water is an essential element to survive but it may cause unnecessary death. Safe and affordable drinking water and proper sanitation can reduce
- Affordable and Clean Energy: Dependency on fossil fuels is unsustainable and harmful for the environment and it is also a big reason for climate change. For this reason United
- Decent Work and Economic Growth: A growing stable per capita income, efficiency in production and consumption and policies that promote job creation and entrepreneurship
- Responsible Consumption and Production: Resources in the earth is limited. So sustainable management of natural resources and a planned consumption is needed to keep
- Climate Action: Climate change is a real and undeniable threat to our entire civilization
- Partnership for the Goals: Main focus of the goal is to work together. Investment throughout the world can take part to overcome all the problems and obtain sustainable
- Social Business Creation Competition (SBC) 2018 - Format & Eligibility
- Judging Criteria & Prizes
- Competing Projects in 2018 Edition
- Journey toward Canada (The Story)
Children must be protected from abuse, and the world is the target of the target. However, winning a prize in one round does not guarantee a chance to win a prize in the next round. Likewise, not winning a prize in one round does not preclude a chance to win a prize in the next round.
Receive participation certificates from HEC Montréal if they complete at least the first 2 rounds of the competition. Three finalists were selected from the top 5 semi-final teams (best team from each of the 5 rooms) to pitch to the general public on Monday evening, September 17, 2018 at HEC Montreal, 3000, chemin de la Côte Sainte Catherine, H3T 2A7 . The competition was about submitting a Social Business idea and making it visible that solves one of the social problems.
Our country has so many social problems, I thought to participate in the competition, then I got some of my juniors in the university. We submitted our idea in the first round, but we couldn't be among the top 05 in the first round. As the champion team, we got the funding of 70,000 BDT Airfare & 15,000 BDT cash for participating in the semi-final and final round in Canada.
But when the plane was on the runway, I felt that it was happening for real. I had my lunch in the hotel and my luggage in the hotel room. I went to visit Dubai. On September 15th, I moved in with one of my collage friends who had just arrived in Montreal for his Masters program.
Because the next day was my semi-final presentation and in the evening there will be a final round if our team is selected in the semi-final then we will present in the final round. The best team from each room is selected first. The judges will then determine the top 03 teams that will pitch in the final round. The next day I visited some Montreal universities and met with Mr.
The next day I visited one of my favorite teachers from Daffodil International University, Miss Umme Kulsum Ma'am, who was the Head of the English Department.
Chapter: 04
MediSure – The Project
- The Project
- Background Story
- Business Policy
- The business objective is to solve the social problem which threatens people and society, not profit maximization
- Financial and economic sustainability
- Investors get back their investment amount only. No dividend is given beyond investment money
- When investment amount is paid back, company profit stays with the company for expansion and improvement
- Gender-sensitive and environmentally conscious
- Workforce gets market wage with better working conditions
- Do it with joy
The van will move around the villages and the tent will be arranged for treatment purposes and it will be established in the center of the village. They can get the treatment at a very low price and they can pay us the treatment fee in installments and we have a deed with a specialized hospital for operations at the discounted price for serious patients. We will go to the rural people's yards with doctors, medicine and the necessary equipment through a van.
Health workers are concentrated in urban secondary and tertiary hospitals, although 70% of the population lives in rural areas. According to 'Independent Bangladesh' we can mention that about 30 percent of dying patients are unable to get the help of a trained doctor and about 60 percent of expectant mothers do not get antenatal check-up. Our mission is to ensure good health of the rural residents of Thakurgaon district in Bangladesh.
By providing medical services based on an innovative idea (bringing the doctor to the patient and paying in installments), we fulfill the healthcare needs of rural residents. Our vision is to ensure good health to all rural people of Bangladesh, everywhere. We will provide medicines and a doctor to their home and receive the payments in installments so that they can afford our service.
MediSure will provide medical facilities to the rural area so that it will be a solution for the rural residents who cannot afford proper medical treatment, which is a basic need for them. On the other hand, not being profit-driven is one of the main reasons for the affordability of our products. All MediSure investors get their investment back, but they do not receive a dividend or a share of the profit.
All workers whose MediSure will get the actual amount for their job, what the market offers. Team MediSure is a group of energetic young people with diverse skills along with experienced and skilled professionals who are dedicated to bring a better future today.
Chapter: 05
Findings, Recommendations & Conclusion
This report is the result of hard work and deep concentration on Social Business and Sustainable Development Goals. They play no role in achieving the goals of sustainable development or in solving the social problems. The motive of the competition to create social enterprises has not achieved, as most of the SB plans in this competition do not work.
The government should take the initiative to manage funds for social enterprise start-ups so that more people will be interested in social business. The government should promote social enterprise ventures and the idea of SB so that large corporations can get involved in social enterprises. The concept of social entrepreneurship and the operational facts and figures of SB should be expanded more so that people can better understand social entrepreneurship.
Social Business is in its initial phase and only the future will be able to tell about its impact on society. Social Business has at least created a bit of a stir in the business world and helped people rethink that there is another way of doing business to achieve sustainable development. Social business runs on its own money in a self-sustainable way by addressing social issues.
In social business, poor people get more benefit by getting products/services at lower prices or start social business and enjoy profit. By fulfilling social needs and keeping the environment clean, social business helps to reduce social challenges to achieve sustainable economic development. Since social business is a new concept, the implication of social business is not yet at the practical or theoretical stage, it is still at the experimental stage.
Since we had in mind the creation of a social enterprise to develop our country and help the villagers, we entered the competition and succeeded. If all people and our government were more aware, we could easily achieve the goals of sustainable development.
