The Austin Social Business Group is a diverse group of people brought together by a curiosity about "What's Next?" for business’ role in social benefit.
The foundation of our interest lies in Nobel Peace Prize Winner Dr.Muhammad Yunus' ideas of social business as detailed in his book "Creating a World Without Poverty: Social Business and the Future of Capitalism".
Dr. Yunus proposes that traditional definitions of Capitalism are too narrow. To view an individual (in the economic sense) as a being solely focused on profit maximizing ignores other aspects of our humanity: spirituality, emotion; national, community and cultural affiliations.
What is a Social Business?
Social business is a term used in many contexts and is often confused with social entrepreneurship. The two terms are related but are not synonymous. Social businesses are a for-profit subset of social entrepreneurship, as are innovative non-profits that provide a social benefit.
The ASBG adopts Dr. Yunus’ definition of Social Business to provide a common starting place for our discussions:
- Social businesses are for-profit companies that focus on providing social benefit rather than maximizing profit for their owners, and are owned by investors who seek social benefit and forgo monetary dividend in return for social dividends. The nature of the product or service creates social benefit.
or
- Social businesses are also for-profit companies owned by poor or may or may not create direct social and build wealth in struggling
disadvantaged people. Goods or services benefit but the companies create jobs communities.
Much of the ASBG discussions focus on social business funding in the United States as a work in progress, influenced by factors unique to our economy and culture.
Since its inception in the Fall of 2007, the ASBG has met monthly to discuss and create community around Social Business concepts. At a time when large companies are exploring ways to re-invent traditional ideas of corporate social responsibility, our interest focuses on how social investors and small business owners in Austin may influence society and become agents of positive social change in our community.
The interests and enthusiasm of ASBG members determines our activities. We provide an open platform for participation. We also provide encouragement and moral support to our members working on social business projects or considering ways to incorporate social business principles into their work.
The ASGB meets on the 4th Monday of each month, (in November and December the meeting date may change due to the holidays).
If you would like to join our group email list and receive notification of meetings, please email ASBG founder and facilitator Kala Philo, owner of Walkie Talkie Productions LLC, at
kalaphilo@gmail.com.
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