A social business is an organization that creates and implements strategies, technologies, and processes for non loss, non

dividend enterprise that focuses directly on the needs of their customers, employees, and partners or dedicated entirely to achieving a social goal to increase co-creation, organizational efficiencies, maximize business potential without taking any financial gain and drive real business value by generating enough income to cover its own costs; any surplus is invested in expansion of the business or for increased benefits to society. I put together some of the example of social business such as, The Grameen-Danone company produces a delicious yogurt for children and sells it at a price affordable to the poor. This yogurt is fortified with all the micro-nutrients which are missing in the childrens ordinary diet vitamins, iron, zinc, iodine, etc. If a child eats two cups of yogurt a week over a period of eight to nine months, the child gets all the micro-nutrients he or she needs and becomes a healthy, playful child. As a social business, Grameen-Danone follows the basic principle that it must be self-sustaining, and the owners must remain committed never to take any dividend beyond the return of the original amount they invested. The success of the company will be judged each year not by the amount of profit generated, but by the number of children getting out of nutrition deficiency in that particular year. The Grameen-Veolia Water Company was created to provide good quality drinking water in a cluster of villages of Bangladesh where tube well water is highly arsenic-contaminated, surface water is polluted. Villagers are buying water from the company at an affordable price instead of drinking contaminated water. This social business water company will be a prototype for supplying safe drinking water in a sustainable and affordable way to people who are faced with water crisis. Once it is perfected, it can be replicated in other villages, within Bangladesh and outside. Intel Corporation created a social business company called Grameen- Intel to bring information technology-based services to the poor in healthcare, marketing, education and remittances. In two of the clinics in Savar, about twenty miles away from the Dhaka City, mobile healthcare workers equipped with smartphones are using poor-friendly technology to assess the risk profile of pregnant mothers who have limited access to medical care at the villages. Mothers at risk are then referred for further diagnostics, bringing the mother into the formal service for basic healthcare.

The Grameen joint-venture with Adidas aims at producing shoes for the lowest income people at an affordable price. The goal of the Grameen- Adidas social business company is to make sure that no one, child or adult, goes without shoes. This is a health intervention to make sure that people in the rural areas, particularly children, do not have to suffer from the parasitic diseases that can be transmitted through walking barefoot. Another shoe company, Reebok, is now test marketing the products for its social business to make sure that nobody goes without shoes. The key drivers of a successful social business are: People centricity vs. popularity For several companies the concept of consumer engagement through social has become synonymous with popularity. For example, brands that provides a consumer with an attractive face book page that hosts contest and provides coupons draw in multiple fans with multiple likes. The basis of digital marketing campaigns is to create a large fan-base thereby giving the brand a higher online popularity rating. While such campaigns may provide short term business benefited by way of sales, they do not drive customer loyalty or retention since most of these fans do not continue to engage with the brand. To drive true consumer engagement companies must go beyond the popularity-contest model to people-centric model whereby consumers can forge meaningful connections.

Creating Infrastructure for Social Business Gradually creative young people will come forward with attractive designs for social businesses to address the most difficult social problems. The good ideas will need to be funded there are already initiatives in Europe and Japan to create Social Business Funds to provide equity and loan support to social business initiatives. Each level of government international, national, state, and city can create Social Business Funds to encourage citizens and companies to create social businesses aimed at addressing specific social problems (unemployment, health, sanitation, pollution, drug, crime, old age, disadvantaged groups the disabled, etc). Bilateral

and multilateral donors can create Social Business Funds. Foundations can earmark a percentage of their funds to support social businesses. Businesses can use their social responsibility budgets to fund social businesses. More and more Business Schools should come forward to design and offer social business courses and business management degrees to train young managers how to manage social businesses in the most efficient manner, and, most of all, to inspire them to become social business entrepreneurs themselves. Social Stock Market Well soon need to create a separate stock market for social businesses to make it easy for small investors to invest in social businesses. Only social businesses will be listed in this Social Stock Market. An investor will come to this in order to find a social business, which has a mission to his or her liking, just as someone who wants to make money goes to the existing stock-market. Investors will know right from the beginning that theyll never receive any dividends when they invest in a social stock market. Their motivation will be to enjoy the pride and pleasure of helping to solve difficult social problems. To enable a social stock exchange to perform properly, we will need to create rating agencies, standardisation of terminology, definitions, impact measurement tools, reporting formats, and new financial publications, such as The Social Wall Street Journal, and new electronic media, such as, Social Bloomberg. Technology as an enabler The world today is in possession of amazingly powerful technology. That technology is growing very fast, becoming more powerful every day. As a kind of vehicle, one can drive it to any destination one wants. Since the present owners of technology want to travel to the peaks of profit-making, technology takes them there. If someone else decides to use the existing technology to end poverty, it can take the owner in that direction. If another owner wants to use it to end diseases, technology will go there. The choice is ours. The present theoretical framework does not give this choice; inclusion of social business would create this choice. One more point to ponder using technology for one purpose doesnt make it less effective for serving a different purpose. Actually, it is the other way around. The more diverse use we make of technology, the more powerful it becomes. Using technology for solving social problems will not reduce its effectiveness for money-making use, but rather will enhance it. The owners of social businesses can direct the power of technology to solve our growing list of social and economic problems, and get quick results.

Social Business and Role of Government Thanks to the concept of social business, citizens dont have to leave all problems in the hands of the government and then spend their lives criticising the government for failing to solve them. Now citizens have a completely new space to mobilise their creativity and talent for solving the problem of our time. Seeing the effectiveness of social business, governments may decide to create their own social businesses or partner with citizen-run social businesses, and/or incorporate the lessons from the social businesses to improve the effectiveness of their own programmes. Governments will have an important role to play in the promotion of social business. They will need to pass legislation to give legal recognition to social business and create regulatory bodies so to ensure transparency, integrity, and honesty in the social business sector. They can also provide tax incentives for investing in social businesses as well as for social businesses themselves.

Globalisation We live in a globalised world: we are now connected and interdependent in an unprecedented way; what we do in one part of the world has a direct impact on another. The shock waves from the collapse of the financial system in most rich countries were transmitted globally and now the whole world suffers from high unemployment, social unrest, etc. Wrong doings of the rich world impact on the lives of the poor people very heavily. The issue of climate change (how this will affect the earth and how human beings will continue to survive on this planet) is a very good example of this. The worlds most densely populated country, Bangladesh, which has 20 per cent of its land less than one metre above sea-level, is singled out very often as a country that will be most affected, and most quickly, by the effects of climate change. Remarkably, the worldwide food crisis of 2008 was, in part, caused by changes in climate patterns, scientists believe, by human activity. The lifestyle of the North can make lives in the South unsustainable. We have to design a new global economic framework to make sure one persons enjoyment of life does not take away another persons right to survival, and that one generations enjoyment of life does not put another generation in peril. Globalisation can bring more benefits to the poor than any other alternative, if it is of the right kind! To me, globalisation is like a hundred-lane highway criss-

crossing the world. If it is a free-for all highway, its lanes will be taken over by the giant trucks from powerful economies. Bangladeshi rickshaws will be thrown off the highway. In order to have a win-win globalisation, we must have traffic rules, traffic police, and traffic authority for this global highway. Rule of strongest takes it all must be replaced by rules that ensure that the poorest have a place and piece of the action, without being elbowed out by the strong. Globalisation must not become financial imperialism. Powerful multinational social businesses can be created to retain the benefit of globalisation for the poor people and poor countries. The extraction of natural resources by the North devastates the livelihood of the poor, so social businesses can be set up to protect those resources from over-extraction and ensure that the poor get a fair price for resources that belongs to them. Direct foreign investment by foreign social businesses will be exciting news for recipient countries since social businesses will either bring ownership to poor people, or keep the profit within poor countries since taking dividends will not be their objective. Building strong economies in poor countries and protecting them from plundering companies will be a major area of interest for social businesses. Engaging Individuals Potentials Once our economic theory adjusts to the multidimensional reality of human nature, students will learn in their schools and colleges that there are two kinds of businesses; traditional moneymaking businesses and social businesses. As they grow up, theyll think about what kind of company they will invest in and what kind of company they will work for. And many young people who dream of a better world will think about what kind of social business they would like to create. Young people, when they are still in schools and colleges, may start designing social businesses and even launch social businesses individually or collectively to express their creative talents in changing the world. We encourage those young people who belong to Grameen borrowers families and are about to complete their education or in studies either on Grameen education loans or scholarships to take a pledge that they would prefer to become job-givers rather than entering the job market to seek jobs. We explain to them that their mothers own a big bank, Grameen Bank. It has plenty of money to finance any enterprise they wish to float so why take time or think of looking for a job to work for someone else? Instead, try to be an employer!

Changing consumers and employees The nature of todays consumer is changing, Before purchasing products people research the brand, seek peer reviews, assess how the brand talks to consumers, and how they interact online through social. If the nature of the consumer has changed owing to social, the nature of employees and how they work within organisations has also changed.

Corporations needs to alter their policies to transform the way employees work on the inside. Conclusion Social business is about people. Companies need to have a people-centric social business strategy where the objective is connecting with people. While companies are leveraging social media to connect with consumers, they also need to look inside the organization and use those same principles and strategies to connect with employees. Employee collaboration and engagement is a critical and often ignored aspect. Companies need to initiate and nurture conversations within the organization and employ social tools to drive connections between people-both employees and customers. Companies need to shift from merely deploying tools and technologies for engagement and develops a strategy that centers on people and leverages social technologies as an enabler to collaborate and engage with them.

References:
(2013, 02). Building Social Businesses. google.com. Retrieved 02, 2013, from

http://www.e2conf.com/innovate/downloads/Infosys_Building_a_Holistic_Social_Business._White_Pap erpdf.pdf http://www.deloitte.com/assets/DcomTurkey/Local%20Assets/Documents/turkey_tr_tmt_socialbusines s_121012.pdf

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