Building Social BusinessName

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nTable of Contents

n TOC o “1-3” h z u HYPERLINK l “_Toc396808045″Building Social Business PAGEREF _Toc396808045 h 1

nHYPERLINK l “_Toc396808046″List of Figures PAGEREF _Toc396808046 h 2

nHYPERLINK l “_Toc396808047″Introduction PAGEREF _Toc396808047 h 3

nHYPERLINK l “_Toc396808048″Social Problems PAGEREF _Toc396808048 h 3

nHYPERLINK l “_Toc396808049″Social Business PAGEREF _Toc396808049 h 5

nHYPERLINK l “_Toc396808050″Social business in Grameen Danone PAGEREF _Toc396808050 h 8

nHYPERLINK l “_Toc396808051″Components of Social Business PAGEREF _Toc396808051 h 9

nHYPERLINK l “_Toc396808052″Building Social Business model PAGEREF _Toc396808052 h 10

nHYPERLINK l “_Toc396808053″Challenging conventional wisdom PAGEREF _Toc396808053 h 10

nHYPERLINK l “_Toc396808054″Challenging conventional wisdom at Grameen Bank PAGEREF _Toc396808054 h 10

nHYPERLINK l “_Toc396808055″Challenging conventional model at GDFL PAGEREF _Toc396808055 h 13

nHYPERLINK l “_Toc396808056″Complementary partners PAGEREF _Toc396808056 h 15

nHYPERLINK l “_Toc396808057″Undertaking a continuous Experimentation process PAGEREF _Toc396808057 h 16

nHYPERLINK l “_Toc396808058″Featuring social business model PAGEREF _Toc396808058 h 17

nHYPERLINK l “_Toc396808059″Conclusion PAGEREF _Toc396808059 h 18

nHYPERLINK l “_Toc396808060″References PAGEREF _Toc396808060 h 19

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nList of Figures TOC f A h z t “Heading 4” c HYPERLINK l “_Toc396743434″Figure 1 Components of Social Business PAGEREF _Toc396743434 h 9

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nIntroduction

nSocial business is a creative business idea that promotes the strategy of doing business for the purpose of addressing a social problem rather than maximizing profit. The book Building Social Business by Yunus Muhammad suggest that principles of capitalism can be used to address the most pressing needs of humanity particularly poverty (Yunus, 2010). Social business has been instrumental in creating employment opportunities and better working environment. In addition, it helps to solve problems in the society such as lack of healthcare, education and poor nutrition. In this regard, social business is a non-divided, non-loss initiative designed to accomplish a social goal (Yunus, Moingeon, & Lehmann-Ortega, 2010). Therefore, principles of social business ensure that the investor receives back his investment money within a particular period but will not receive dividend beyond the investment money (Yunus, 2010). For instance, Grameen Bank is a perfect example of a company utilizing social business, where Grameen borrowers are the stakeholders. The purpose of investment is to accomplish social objectives via the operations of the firm and the investor is not motivated by personal gain (Berry, 2000).

nSocial ProblemsWorld Bank reports indicate that one in every four people in developing countries lived on less than one U.S dollar per day in 2008. In addition, similar reports indicated that in 1981, one in every two people in developing countries lived on less than one U.S dollar per day. Therefore, this suggests that in developing countries, majority of people are still languishing in poverty (Yunus, 2010). However, the poverty levels in developing countries are expected to reduce by one-half by 2015 from its levels in 1990s. United Nations has set up Millennium Development Goals that target to reduce poverty levels across the globe (Dacin, Dacin, & Matear, 2010).

nNonetheless, reports have documented that by 2015; more than one billion persons will be living on less than one U.S dollar per day. In some parts of the world, poverty levels have been on the rise. For instance, in sub Saharan Africa, the rate of poverty has doubled between 1881 and 2005 (Yunus, Moingeon, & Lehmann-Ortega, 2010). Though the rate of poverty has declined in middle-income nations in the Middle East, North Africa and Latin America the figure of poor persons in these parts has remained constant (Yunus, 2010). Further, recent increase in prices of fuel and food has significant effects on poor people all over the world. This has created the rise of social problems in the world.

nThe government, multilateral organizations and nonprofit institutions have established strategies to alleviate poverty. Nonetheless, they are less likely to solve social problems by working in isolations (Seelos, & Mair, 2005). Government efforts to solve social problems but they have been ineffective in addressing the core areas of reducing poverty. This is because government efforts have been slow, inefficient, self-perpetuating, bureaucratic and prone to corruption. Additionally, nonprofit institutions working in isolation have revealed its incapability to solve social problems because they depend on constant stream of donations (Yunus, Moingeon, & Lehmann-Ortega, 2010). In case there are inadequate funds, their efforts are limited.

nSimilarly, multilateral organizations have not achieved much in alleviating social problems. In most cases, the organizations have been conservative, bureaucratic and self-serving hence unable to solve pressing social problems in the society. In addition, they receive inadequate funds that are difficult to rely upon (Dacin, Dacin, & Matear, 2010). Most notably, these stakeholders do not appreciate the fact that poor individuals can be actors themselves hence can offer solutions to the social problem.

nAdditionally, due to corporate social responsibility (CSR) majority of firms have developed some approaches to fight against poverty in their countries. In this respect, more organizations are interested in social change as young and innovative person takes on the mantle of leadership (Yunus, Moingeon, & Lehmann-Ortega, 2010). Nevertheless, shareholders in capitalist society value profit maximization hence attempts to address social problems have not achieved desired outcomes (Dacin, Dacin, & Matear, 2010). Therefore, though principle of corporate social responsibility it advocate for social, financial and environment advantages in determining the success of businesses, only financial profit has been used to measure success.

nSocial BusinessIn this regard, social business is a concept that has been designed particularly to cater for social goals. Social business ensures collaboration between government, multilateral organizations and non-profit institutions. The Grameen Bank has utilized the concept of social business in Bangladeshi (Yunus, 2010). Through the leadership of Yunus Muhammad, Grameen bank has created nearly thirty sister institutions that are associated with the bank.

nThe ideas of social business uses concepts from capitalist economy hence its implementation borrow certain concepts from conventional business literature. Yunus Muhammad, through Grameen bank started lending money to the poor people who were confined into poverty by selfish moneylenders (Seelos, & Mair, 2005). In addition, he observed that most banks refused to lend money to the poor without collateral (Yunus, 2010). His initiative has been successful because it offered loans to more than 7.6 million poor individuals of whom 97 percent are women. This has enabled the building of social business that lifts the poor out of poverty. For instance, more than 68 percent of families who borrow from Grameen Bank have passed the line of poverty (Yunus, Moingeon, & Lehmann-Ortega, 2010).

nFurther, more than 98 percent has been motivated to repay their loans, which increases the chances of the bank success in terms of profitability. The Grameen Bank has facilitated the building of businesses whose aims is to alleviate poverty, which has enabled the establishment of the idea of social business (Seelos, & Mair, 2005). Majority of multinational companies have indicated interest in social business to enhance the fight against poverty (Yunus, 2010). This is part of the emphasis to promote corporate social responsibilities (CSR).

nNonetheless, in capitalist system, shareholders still focus on value maximization, which affect the principles of social business. Study findings indicate that if corporate social responsibility projects are properly managed, it produces both financial and social benefits (Bornstein, & Davis, 2010). Some firms during the recent economic and financial crisis have begun developing strategies to accomplish social change. Besides, companies have executed pro-active policies on corporate social responsibilities, which advocate for social trends (Yunus, 2010). The move has contributed to the rise of the number of social businesses.

nGrameen bank has been providing necessary assistance to the companies due to its experience in social business venture. Two forms of business bodies can be identified in systems of capitalism. Firstly, firms can be viewed as profit-maximizing business whose aim is to develop shareholders value. Secondly, non-profit institution aims to fulfill a social objective (Dacin, Dacin, & Matear, 2010). Most notably, a social business utilizes these two entities. Therefore, it must recuperate its full costs from business operations and at the same time, investors must recover their investment money (Yunus, Moingeon, & Lehmann-Ortega, 2010). Nonetheless, social business is characterized by cause-driven initiatives rather than profit-driven initiatives. Therefore, social business acts as a catalyst of change in the world.

nSocial business is not a charity, but it is a normal business hence its organizational structure is similar to the profit-maximizing businesses. In addition, the managerial system is the same as normal business. When operating social business, the mindset and daily operations are different from those in charity organization but with an aim different from profit maximizing (Yunus, 2010). In order to achieve business sustainability, the organization must recover its full cost while at the same time addressing social problem in the society (Seelos, & Mair, 2005). Since there are no dividends, the investors have no intentions to make profit but they have the right to get their money back when they wish.

nBesides, the surplus that is created from social business is reinvested in back in business rather than being distributed to investors. Besides, the social business distributes the surplus to target groups of beneficiaries in form of lower prices, greater accessibility and better services (Dacin, Dacin, & Matear, 2010). In this regard, social business is run as an enterprise with markets, services, expenses, products, revenues and customers. Moreover, it is non-dividend, self-sustaining and no-loss business entity (Yunus, 2010). This is because it sells services and goods and repays investment money to its owners but its core objective is to serve the poor and increase the standards of living.

nContrary to Non-governmental organizations, it recovers its total cost from its business operations. Therefore, it is not compelled to spend much of its time and energy in raising money (Berry, 2000). Additionally, social business depends on its financiers at the initial stages of the venture as it attempts its self-sustainability.

nSocial business is a commercial entity that is between a non-profit and profit-maximizing organization. Questions are raised at the idea behind investors putting money in this form of business (Yunus, 2010). Across the world, people donate billions of dollars in charitable organizations hence there is need to utilize money in ways that produce maximum benefits to other people.

nOperating a social business is unlike the activities of philanthropists in various means. Most notably, social business is self-sustaining (Yunus, Moingeon, & Lehmann-Ortega, 2010). For instance, investors in social business get back their money while individuals who donate in charitable organizations do not recover their money. Moreover, investors in social business remain the decision maker and the owner of the firm hence he/she is capable of deciding its future course of action (Dacin, Dacin, & Matear, 2010). Social business not only provides money but also provides a perfect opportunity to develop creativity to solve social problems and develop their business skills.

nSocial business in Grameen Danone

nGrameen group has created various social businesses among them being Grameen Danone Food Limited. The company was created in 2006, and it is 50-50 percent joint business venture between French Groupe Danone and Grameen Group. The firm is one of the successful healthy food companies in the world. For instance, in 2007, it generated U.S $ 18.4 billion and it was the leading firm in fresh dairy products across the globe and second in bottled water (Yunus, Moingeon, & Lehmann-Ortega, 2010). Further, the company has been associated social responsibility and determination to success in business. The company was jointly developed by managers of Grameen Group and Danone Company to provide daily health foods to the poor, nutritionally disadvantaged and decrease levels of poverty via execution of a special proximity business model in Bangladesh (Yunus, 2010). Besides, the partnership provided an opportunity for Danone to establish itself in Bangladesh since it did not have a presence before.

nComponents of Social BusinessThe mission of Grameen Danone Food Limited involved two major components. Firstly, a value proposition that seek to determine the viable customers and what valuable product that can be offered to them. Secondly, a value constellation that seeks to determine how to deliver the value to customers (Yunus, Moingeon, & Lehmann-Ortega, 2010). This also involves the value of company chain as well as network of partners and suppliers. The two components must work in harmony in order to create a positive equation for profit.

nFigure 1 Components of Social Business (Source, Yunus, 2010)

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nThe profit equation is the translation of finances from two preceding components. In this respect, it explains how sales are created via value proposition and capital engagement from the value constellation. The conventional business model of Danone is like producers of Fast-Moving Consumer Goods (FMCG). In addition, the value proposition is designed on the principles of high-end products taking advantage of strong brand image. Besides, the value proposition is supported by substantial investments in marketing. Moreover, value constellation depends on economies of scale. Large factories perform manufacturing functions while products are then distributed through food retailers. In order to meet the aims of Grameen Danone Food limited (GDFL) a firm builds new business model (Yunus, Moingeon, & Lehmann-Ortega, 2010). It is similar with business model innovation because it aims to create different profit sources by combining value constellation and value proposition.

nBuilding Social Business model

nThree major strategic factors to create social business model includes, experimentation, setting up partnership and challenging conventional wisdom, (Yunus, 2010). These factors are very useful in building social business models.

nChallenging conventional wisdomSocial business must develop strategies that improve the rules of competition in the industry through radicalism innovation. Therefore, it presents a new challenge to companies as they seek to determine the models that formerly led to success (Bornstein, & Davis, 2010). Besides, it demands revisiting various fundamental assumptions in what is referred to as double loop learning. Contrary, single loop learning involves changing the tactics within a prevailing business context. In a single loop, learning a firm is forced to change its core orientations and embrace new ones (Yunus, 2010). The creation of social business must provide clear instructions on ways to challenge conventional wisdom.

nChallenging conventional wisdom at Grameen BankThe foundations of Grameen Bank are created by questioning the rules of competition game. Yunus’ idea to build the bank was obtained from a village woman named Sufiya Begum because of the nature of challenges she faced. Begum daily life involved making bamboo stools. She depended on cash from local moneylenders to purchase bamboo to make stools (Dacin, Dacin, & Matear, 2010). Unfortunately, Begum was lent money on condition that she would sell all her stools to the moneylender at his own price that was outrageously low.

nTherefore, although she worked very hard, she still suffered from poverty. Other villagers suffered from the same exploitations from the moneylenders. For instance, forty-two villagers encountered the same problem after borrowing less than U.S $ 27 (Yunus, Moingeon, & Lehmann-Ortega, 2010). Besides, villagers could not get loan from conventional financial institutions such as banks because they did not have credit histories and had no collateral to provide. In addition, many of the villagers were illiterate hence; they could not fill out necessary documents as required by banks. Consequently, Yunus lent $ 27 and was repaid this amount and its interest within one week (Yunus, 2010). The financial institutions were reluctant to provide the loans to the poor people despite the fact that most people were able to repay their loans.

nEventually, Yunus created Grameen Bank in 1983 with an aim of assisting the poor to get credit. The name Grameen was obtained from the word village. The bank reinvented new rules in the market because it did not focus on collateral but the business model was established around the poor people (Yunus, Moingeon, & Lehmann-Ortega, 2010). It focused on addressing their problems, their needs while at the same time promoting their skills and abilities.

nThe social business model of Grameen Bank depends on different basic rules as compared to conventional bank. First, the bank’s value proposition is designed to ensure that small loans are delivered to poor to finance business that generate income hence lifting them out of poverty (Yunus, 2010). These business activities include machine-repairing, rice husking, buying rickshaws, and buying of clothes, goats and cows at an interest rate of 16 percent. Secondly, the branches of the bank are situated in villages at a range of 15 to 22 villages to promote the value of constellation.

nBesides, the branch manager of the bank and his employee must visit the villages to understand and familiarize himself with local problems. In addition, they should explain the purpose of their visit, mode of operation, purpose of the bank and identify the prospective clientele (Dacin, Dacin, & Matear, 2010). Five prospective borrowers form one group. At the initial stage, only two members in a group are qualified for a loan (Yunus, 2010). The bank employees observe the group for a period of one month to identify whether the members are compliant to guidelines of the bank. The other three members in a group are entitled for a loan if the two borrowers start to settle interest and principal amount after six weeks. However, individual records are very crucial because of these restrictions (Yunus, Moingeon, & Lehmann-Ortega, 2010). Due to group pressure, group support and self-interest as well as borrowers’ motivation, the bank recorded 98.4 percent in repayment of loans. In this regard, Grameen Bank has offered loans to more than 7 million poor people, of whom 97 percent are females.

nGrameen Bank has facilitated the alleviation of poverty among the poor people. For instance, 65 percent of poor people who have been borrowing from the institution for 5 years have passed the line of poverty. Additionally, the institution has recorded profit in every year except in few years hence indicating a positive profit equation (Yunus, 2010). Therefore, business model of Grameen Bank challenges the perception of standard banking that loans must be given with collateral and entrepreneurship is an unusual quality. The value constellation of the bank indicates that social pressure is more effective relative to collateral founded on control of bureaucracy.

nChallenging conventional model at GDFL

nGrameen Danone Food limited questioned the conventional wisdom and rules of the market. The company drastically amended the business model because of poor infrastructure, lack of refrigerators and retail outlets in Bangladesh. Therefore, managers of Danone had to initiate new business model (Yunus, 2010). The firm focused to change the rules of the game in developed countries since they could not apply in the Bangladeshi context.

nRegarding the value proposition, the product from the company should be affordable to the poor people for it to be effective. The aim of Grameen Danone Food Limited was to assist Bangladesh children to get healthy and nutritious food that they that they would consume on daily basis (Dahan, Doh, Oetzel, & Yaziji, 2010). For instance, the firm introduced yogurt known as Shoktidoi that the poorest families in Bangladesh could afford (Dacin, Dacin, & Matear, 2010). In Bangladesh, there were no refrigerators to ensure stability in the acidity of flavor for yogurt hence it presented new challenge in developing the product.

nIn addition, in order to build a successful social business in Bangladesh, the firm had to revisit the three main factors of value constellation. These are distribution, supply and production. Therefore, GDFL has designed measures that are aimed at improving the supply of milk to the firm (Yunus, Moingeon, & Lehmann-Ortega, 2010). For instance, it has established micro-farms to form part of its network of supply. The Grameen Bank also provides micro-credit to owners of dairy cattle.

nThe dairy farmers are assured of annual constant prices of milk and veterinary advice, which enables them to increase production. Similarly, the firm has developed structures that ensure that date molasses is supplied to the firm since it is cheaper than sugar. In addition, the consumers due to its strong flavor value molasses (Dacin, Dacin, & Matear, 2010). This ensures that competition between purchasers of milk is reduced to limit any increase in prices of milk. It also ensures that there is sustainability of the business model of the firm.

nSecondly, GDFL has designed measures that ensure that the production of yoghurt is performed at low cost as possible. The firm designed strategies to sell the yogurt at U.S $ 5 cents in order to sell to the poor people in the society. Therefore, the firm simplified the process and slightly automated the systems (Yunus, Moingeon, & Lehmann-Ortega, 2010). Thirdly, the firm has invested new methods to ensure successful distribution. For instance, it initiated door-to-door sales in retail distribution. “Grameen ladies” distribute the yoghurt via door-to-door sales. The women are trained on how to deliver additional nutritional message while distributing the products and they are entitled to commission for every yogurt they sell (Yunus, 2010). They access more than 200 households a day and they are supported by Grameen to buy enough stock through additional credit. Besides, the Shoktidoi yoghurt is sold through the existing stores in the rural areas.

nTherefore, the first step to build successful social business model is to challenge prevailing conventional assumptions and wisdom. Most notably, the poor people cannot generate the economies of scale. In this respect, an alternative business process should be initiated in order to provide the product at a low cost (Yunus, 2010). In addition, it ensures that the firm offers high quality products so that the products are accessible to low-income consumers.

nComplementary partners

nThe second stage in building social business model is to control resources and expertise by establishing partnership. Therefore, the firm must open to other firms in the market. In the context of social business, technological environments may be applied. This ensures that a company takes advantage of new resources after opening up its own business model to other firms (Dacin, Dacin, & Matear, 2010). This develops cooperation paradigm relative to competition paradigm hence leading to collaboration.

nCollaboration is important because it ensures that new resources are available to partner companies that would otherwise be required to either purchase or develop alone (Dahan, Doh, Oetzel, & Yaziji, 2010). In this regard, it ensures that resources are pooled together and taking advantage of knowledge in the market. The collaborative companies benefit from greater portfolio of resources after joining the network (Yunus, 2010). Collaboration is one of factors that contribute to success of pro-active corporate social responsibility approaches.

nGrameen has established successful partnership with other firms that have contributed to building social business. For instance, Grameen collaborated with Telenor Company to create Telecommunication Company (Dees, & Anderson, 2006). The two created Grameen Phone where Telenor controls 62 percent of the shares while Grameen Telecom has 38 percent. The company is a non-profit firm and in 2008, the firm recorded $ 4.8 billion turnover (Yunus, 2010). In addition, the number of mobile phone subscribers increased to 40 million in 2008 and majority of them were in the village.

nTherefore, Grameen Phone was able to bring mobile phone technology into village. The success of the firm relied on the value constellation and non-conventional value proposition. Moreover, using “telephone ladies” the company has achieved to provide phone services to their villages (Yunus, Moingeon, & Lehmann-Ortega, 2010). The Grameen Bank offer loans to ‘telephone ladies” to buy air time and mobile phones in bulk.

nFurther, Grameen phone by mid-2007 was the largest tax-generating firm in Bangladesh because it had more than twenty million subscribers. Grameen benefit from the partnership because it had no experience in developing network for wireless phone. On the other hand, Telenor had limited experience in third world countries (Yunus, 2010). Therefore, Telenor benefited from knowledge from Grameen as well as strong connections between people that the bank had already developed. Additionally, the partnership of skills and resources from Grameen and Telenor built a successful business venture that helped the poor to advance their entrepreneurial skills and move out of poverty (Thompson, & MacMillan, 2010).

nNonetheless, sometimes partnership can be a source of conflict between business partners (Dees, & Anderson, 2006). For instance, the initial objective was to change Grameen Phone into a social business by allowing the humble to buy majority shares hence they would benefit from soaring profit. However, Telenor become adamant to sell its shares to the poor after the business registered huge profits (Dacin, Dacin, & Matear, 2010). Therefore, it is very crucial for business partners in social business to agree on the objective of the partnership at the beginning.

nUndertaking a continuous Experimentation processThis is another crucial step of building social business. The process involves learning through strategic experimentation. This helps to solve problems that have uncertain solutions or does not have critical sources of information (Yunus, Moingeon, & Lehmann-Ortega, 2010). Therefore, the firm should initiate small experiments that assist the firm to maximize rate of learning and minimizing risk (Dees, & Anderson, 2006). This ensures that the firm is able to identify strategies that increase the potential for success. For instance, in building social business, Grameen Bank and Veolia water experimented new strategy of access to drinking water.

nThe two companies developed a joint venture to provide affordable drinking water to rural populations in Bangladesh. Previously people in rural areas were forced to drink water polluted with arsenic or forced to buy bottled water. The people in rural areas could not afford to pay for water bills in their homes (Yunus, Moingeon, & Lehmann-Ortega, 2010). Grameen and Veolia decided to construct a water factory in one of the densely populated rural areas with an aim of providing drinking water at a cheap price to the residents.

nFirst, the firm built an experimental factory that supplied water to more than 25 000 residents. The firms planned to develop the second phase, which aims to supply water for more than 100 000 people. In addition, other factories would be built throughout the country to recycle surface water to safe drinking water (Thompson, & MacMillan, 2010). Therefore, the social business model first advocated for strategic experimentation, which will be fine-tuned in the process of implementation.

nFeaturing social business model

nMany Grameen firms have registered remarkable achievements in their social goals. However, not every business venture has registered success due to failure to meet financial self-sufficiency (Dees, & Anderson, 2006). In addition, the success of social business relies on establishment of business model that meets genuine market demands. For instance, GDFL has been the most successful multinational social business in the world. Through corporate social responsibility, the firm has developed financial responsibility and social welfare (Dacin, Dacin, & Matear, 2010). However, there are firms that value profit rather than social welfare. Therefore, financial oriented owners and shareholders want their investment to produce positive cash flow.

nConclusion

nBuilding social business is a process that requires careful planning of business models. The business can be created to solve social problems in the society ranging from water shortage, climate change, high prices of energy and industrial pollution. These problems increase suffering of the people and increase the risk of death (Thompson, & MacMillan, 2010). Therefore, through social business, these problems can be addressed through specific new social business models. The firm must also carry out field research and experiment in order to develop self-sustaining business. The desire to build social business is initiated by the need to make life better for the fellow man by creating a world that is free from diseases, poverty, needless suffering and ignorance (Dahan, Doh, Oetzel, & Yaziji, 2010). Additionally, through social businesses, the firm is able to initiate projects through corporate social responsibility. The principle of social business can be utilized in capitalism system. This will help to address global concern that remains as a huge challenge to achieve Millennium Development Goals (Berry, 2000). Therefore, building social business is an important strategy that solves major problems in the society.

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nReferencesBerry, T. (2000). The dream of the earth (Vol. 3). San Francisco: Sierra Club Books.

nBornstein, D., & Davis, S. (2010). Social entrepreneurship: What everyone needs to know. Oxford University Press.

nDacin, P. A., Dacin, M. T., & Matear, M. (2010). Social entrepreneurship: why we don’t need a new theory and how we move forward from here. The academy of management perspectives, 24(3), 37-57.

nDahan, N. M., Doh, J. P., Oetzel, J., & Yaziji, M. (2010). Corporate-NGO collaboration: co-creating new business models for developing markets. Long Range Planning, 43(2), 326-342.

nDees, J. G., & Anderson, B. B. (2006). Framing a theory of social entrepreneurship: Building on two schools of practice and thought. Research on social entrepreneurshi