social business
Social business was defined by Nobel Peace Prize laureate Professor Muhammad Yunus and is described in his books. In these books, Yunus defined a social business as a business: Created and designed to address a social problem A non-loss, non-dividend company, i.e. It is financially self-sustainable and Profits realized by the business are reinvested in the business itself (or used to start other social businesses), with the aim of increasing social impact, for example expanding the company’s reach, improving the products or services or in other ways subsidizing the social mission. Unlike a profit-maximizing business, the prime aim of a social business is not to maximize profits (although generating profits is desired). Furthermore, business owners are not receiving any dividend out of the business profits, if any. On the other hand, unlike a non-profit, a social business is not dependent on donations or on private or public grants to survi...