Social Business Pedia

Clarifications on Social Business

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I am not opposed to making profit. Even social businesses are allowed to make profit with the condition that profit stays with the company; the owners will not take profit beyond the amount equivalent to investment. Social business is a new category of business. It does not stipulate the end of the existing type of profit-making business. It widens the market by giving a new option to consumers. It does not intend to monopolise the market and take the existing option away. It adds to the competition. It brings a new dimension to the business world, and a new feeling of social awareness among the business community.

When we approach the concept of social business from the philanthropy side, it looks very convincing and logical. Why should everything in philanthropy be given away? If some of these goals can be achieved more efficiently and sustainably in a (social) business format, then why not take that route? After all our purpose is to achieve the social goal.

But when you approach it from the orthodox business side, it tends to look a bit out of tune. Why on earth give up profit? Why should anyone run a business without profit? I understand the surprise perfectly.

Let me clarify: I am not asking any businessperson to give up any of their businesses. Nor am I asking them to convert some of their businesses into social business. The idea of "giving up" something creates this shock wave. I am not asking anybody to "give up" anything. All I am saying, if you are worrying about a social problem (while totally engaged in your routine business) I have a message for you, you can make a significant contribution in resolving the problem. If you put your mind seriously into it, you may even open the door to eliminate the problem globally. You can do both: conventional business and social business.

It is all upto you to decide whether you want to do a such thing or not. Nobody will raise an accusing finger at you if you do no such thing. But you may feel happy if you do it. I am suggesting a way which may make you a happier person.

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Clarifications on Social Business

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