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Social business is an emerging trend in the business world today. According to Social Business Forum. com, it is a recent trend that is transformational, making the companies function and generate value for all constituents. In the past, Muhammad Yunus, a Nobel Prize winner, wrote the books "Creating a World without Poverty- Social Business" and "The Future Capitalism and Building Social Business," which first defined what social business is. According to these, it is a way of expanding the company's capabilities, improving the product and service provided, and promoting its social mission. Many organizations were influenced by Yunus such as Grameen Danone Foods, a social business enterprise in Bangladesh, and Grameen Bank, a community development bank. As a result, these companies were able to promote and develop social businesses among their organizations successfully. At present, social business is practiced in different companies to uplift the social welfare in the marketplace. It also reinforces the idea of profitable and social responsibility of business. Social business has its main objectives that are attained, once it is implemented. These are to provide a profit- oriented business and to have more effective products and services. Also, it aims to practice a social objective rather than a financial one (Abuso, 2011).

Social business is an emerging trend in the business world today. According to Social Business Forum. com, it is a recent trend that is transformational, making the companies function and generate value for all constituents. In the past, Muhammad Yunus, a Nobel Prize winner, wrote the books "Creating a World without Poverty- Social Business" and "The Future Capitalism and Building Social Business," which first defined what social business is. According to these, it is a way of expanding the company's capabilities, improving the product and service provided, and promoting its social mission. Many organizations were influenced by Yunus such as Grameen Danone Foods, a social business enterprise in Bangladesh, and Grameen Bank, a community development bank. As a result, these companies were able to promote and develop social businesses among their organizations successfully. At present, social business is practiced in different companies to uplift the social welfare in the marketplace. It also reinforces the idea of profitable and social responsibility of business. Social business has its main objectives that are attained, once it is implemented. These are to provide a profit- oriented business and to have more effective products and services. Also, it aims to practice a social objective rather than a financial one (Abuso, 2011).

Social Psychology (10th Edition)
Social Psychology (10th Edition)
10th Edition
ISBN:9780134641287
Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Chapter1: Introducing Social Psychology
Section: Chapter Questions
Problem 1RQ1
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Social business is an emerging trend in the business world today. According to Social Business Forum. com, it is a recent trend that is transformational, making the companies function and generate value for all constituents. In the past, Muhammad Yunus, a Nobel Prize winner, wrote the books "Creating a World without Poverty- Social Business" and "The Future Capitalism and Building Social Business," which first defined what social business is. According to these, it is a way of expanding the company's capabilities, improving the product and service provided, and promoting its social mission. Many organizations were influenced by Yunus such as Grameen Danone Foods, a social business enterprise in Bangladesh, and Grameen Bank, a community development bank. As a result, these companies were able to promote and develop social businesses among their organizations successfully. At present, social business is practiced in different companies to uplift the social welfare in the marketplace. It also reinforces the idea of profitable and social responsibility of business. Social business has its main objectives that are attained, once it is implemented. These are to provide a profit- oriented business and to have more effective products and services. Also, it aims to practice a social objective rather than a financial one (Abuso, 2011). 1. What is the paragraph about? 2. How is the term social business defined? 3. What characteristics of social business are given in the paragraph and What examples are given to show qualities?
Transcribed Image Text:Social business is an emerging trend in the business world today. According to Social Business Forum. com, it is a recent trend that is transformational, making the companies function and generate value for all constituents. In the past, Muhammad Yunus, a Nobel Prize winner, wrote the books "Creating a World without Poverty- Social Business" and "The Future Capitalism and Building Social Business," which first defined what social business is. According to these, it is a way of expanding the company's capabilities, improving the product and service provided, and promoting its social mission. Many organizations were influenced by Yunus such as Grameen Danone Foods, a social business enterprise in Bangladesh, and Grameen Bank, a community development bank. As a result, these companies were able to promote and develop social businesses among their organizations successfully. At present, social business is practiced in different companies to uplift the social welfare in the marketplace. It also reinforces the idea of profitable and social responsibility of business. Social business has its main objectives that are attained, once it is implemented. These are to provide a profit- oriented business and to have more effective products and services. Also, it aims to practice a social objective rather than a financial one (Abuso, 2011). 1. What is the paragraph about? 2. How is the term social business defined? 3. What characteristics of social business are given in the paragraph and What examples are given to show qualities?
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