BCG's newest global social impact partner is Nobel Peace Laureate Professor Muhammad Yunus, Grameen Bank founder and microfinance and microcredit pioneer. We are working with Professor Yunus—widely considered the thought leader and one of the earliest implementers of the "social business" concept—and his network of organizations, including Yunus Social Business—Global Initiatives (YSB).
A social business is a company that leverages business principles to solve a social problem. Original investments may be recouped, but all profits are reinvested to further increase the organization’s social impact.
Since BCG began supporting Professor Yunus and his network in 2012, our partnership has evolved to cover strategic as well as operational issues. BCG is currently engaged in facilitating discussions between Professor Yunus and multinational companies around the world, helping those organizations explore opportunities to work with YSB and develop social businesses tailored to their value chains.
Founded by Professor Yunus in 2011, YSB currently operates in seven countries. In each, local teams source, coach, and mentor entrepreneurs through structured accelerator programs. YSB finances the most promising social businesses and provides postinvestment support.
Why Corporations Should Build Social Businesses
Professor Muhammad Yunus on the Power of Social Business