Social enterprises- the true answer to happiness?

Singapore Management University (SMU) alumni Shashank Nigam writes that living in Boston has a number of upsides. One of them is the opportunity to meet world-renowned luminaries such as Dr Mohammad Yunus, the Nobel Peace Prize winner and founder of Grameen bank. He writes an interesting perspective on social enterprises, about doing more than just increasing the profit-making behaviour in order to help lift the poor out of poverty. Read more here.

Despite the multitude of benefits that free market capitalism has brought, it still leaves vast number of people trapped in poverty. Professor Yunus believes that social businesses can help people in this group more effectively. Yunus’ idea of social business is catching on in many countries. Unlike the regular concept of business to maximise profit, social business is to maximise "doing good" for the benefit of other people.

Speaking to The Singapore Straits Times recently, Professor Yunus said, "Social business" is not charity but more in keeping with the adage: it's better to teach a man how to fish than give him fish."

Professor Yunus gave a lecture at the International Islamic University, Malaysia on how to empower the poor through social business.