Nobel Prize Laureate in town !

SDMalaysia recently attended a luncheon talk in KL organised by Yayasan Khazanah and MINDA. The distinguished speaker is Prof Mohd Yunus, a Bangladeshi economist and founder of the Grameen Bank. For his effort to eradicate poverty in his country, he received the Noble Prize Award in 2006. 

The topic of the day was "Social Business and Poverty Reduction". The gentleman delivered an inspiring talk and he did it eloquently without any prepared text on the podium!


So here are the salient points SDMALAYSIA benefited from the session.


1. We will never be able to solve the world greatest problems such as poverty and climate change because all of us are guilty repeating things we are so used to do in the name of capitalism.


2. The idea of capitalism has gone sour because we have always been thought to do things for OUR OWN PROFIT. 


3. Our actions indirectly have affected those who are less fortunate to be worse off in their ability to acquire the basic necessities in life. 


4. Subsequently, economic disparity in society will lead to unfavourable condition such as poverty.


5. According to the World Bank while global poverty rate has substantially reduced, the risk of number of ppl falling into poverty has increased !  


5. Social Business is a concept to conduct business without considering self profit. The ultimate goal is to provide solutions for others who are less fortunate. You can get more info on this at wikipedia.


6. Prof Yunos argues that the principle behind Social Business will give greater impact than the triple bottom line approach.


7. It is our chance to consider this approach in a concerted effort to ensure that we will truly embark on a sustainable business.