Yunus asks varsity teachers to write new textbooks on social business

Nobel Laureate Professor Muhammad Yunus on Friday urged the university teachers to write new textbooks on social business as the existing economic model is not functioning well.


"Everything is job oriented. Is it the meaning of education, to find job? It teaches us that if you can make more money, you will be more successful,” he told the inaugural session of the Social Business Forum 2012 at North South University in the city.

Professional Society for Social Business and North South University jointly organised the programme.

Dr Yunus said the current economic system is not appropriate to resolve the problems, as the system only eyes making money.

He said the conventional business is designed in a way that seeks to maximise profit. “In the process, we’ve created many problems, and as a result, the world has become a mess.”

Dr Yunus called upon the universities to become a true hub of knowledge and spread the knowledge out of the campus so that people could benefit.

He said money-making could be a means, not an end, and should not be the only purpose of life.

Dr Yunus, founder of Grameen Bank, urged the youths to build themselves as social business entrepreneurs to address the existing problems of the society.

“Do not run to jobs only… build yourself as a social business entrepreneur. The social problems must be resolved through social business,” he said, and advised the youths broaden their imagination.

Addressing a panel discussion, Commerce Minister GM Quader said the social business concept has originated from Bangladesh. "We are proud of it. It is our product."

He said businesses are very essential for a society, and they would also have to make profit to be sustainable. "Bangladesh needs businesses such as social business."

NSU vice-chancellor Prof Hafiz G A Siddiqi said Prof Yunus has long been known for his microcredit concept, which has been replicated in most countries throughout the world. “Now he has presented the world another idea -- the social business.”

NSU Board of Trustees Chairman MA Hashem said the society and the nation would benefit from such a novel idea. “It will help us build a peaceful world. It will add a new dimension to business.”

Prof Abdul Hannan Chowdhury, dean of School of Business at NSU, said social business is all about doing well for humanity, rather than making personal profit, which is a major goal for conventional business.

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