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http://dx.doi.org/10.13106/jafeb.2021.vol8.no3.0931

Social Business in An Emerging Economy: An Empirical Study in Bangladesh  

CHOWDHURY, Fatema Nusrat (Department of Real Estate, Faculty of Business and Entrepreneurship, Daffodil International University)
MUSTAFA, Jasia (Department of Business Administration, Faculty of Business and Entrepreneurship, Daffodil International University)
ISLAM, K.M. Anwarul (Department of Business Administration, The Millennium University)
HASAN, K.B.M. Rajibul (Risk Management Division, Agrani Bank Limited)
ZAYED, Nurul Mohammad (Department of Real Estate, Daffodil International University)
RAISA, Tahsin Sharmila (Department of Business Administration, Faculty of Business and Entrepreneurship, Daffodil International University)
Publication Information
The Journal of Asian Finance, Economics and Business / v.8, no.3, 2021 , pp. 931-941 More about this Journal
Abstract
The study focuses on the relationship between SB, corporate social responsibility (CSR), and the emerging economy. Thereafter it highlights the types, principles, and funding cycle of SB with the evidence from Grameen Bank, which is a globally well-recognized microfinance venture in Bangladesh established by the Nobel Laureate Dr. Muhammad Yunus. This study employs qualitative analysis to illustrate an architectural overview of the SB model by collecting secondary data from various publications related to the topic and published data of Grameen Bank. Finally, this paper illustrates the SB model along with specified characteristics, systematic framework, and main approaches for sustainable context, which could be applied as a conceptual framework for SB in any context of the emerging economy. The findings of this study suggest that the SB model is the workflow having a hierarchy of five phases namely need identification, goal setting, solution-based business plan, business plan assessment, and business plan execution. Analyzing a range of social business interventions in a developing country, Bangladesh, through the lens of five key aspects demonstrates that social business is the most efficient way to sustainably maximize the social benefits and minimize specific social issues poverty of the people affected.
Keywords
Social Business; Corporate Social Responsibility; Emerging Economy; Principles; Investment Cycle; Business Model;
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