Muhummad Yunus is changing the world and challenging the status quo one person at a time. Yunus, a 2006 Nobel Peace Prize winner, created the Grameen Bank [13] in 1983 to eradicate poverty through micro-lending in his native Bangladesh.
The premise? Give money to poor women to start their own businesses and emerge from poverty by their own hands. Yunus calls this new way of thinking the social business model.
Through this model, the goal of a business is to help others, not to gain profit. The idea has been so successful that thousands of Grameen Bank branches now exist beyond Bangladesh's borders.
Yunus spoke at Syracuse University Tuesday evening and sat down with The NewsHouse to talk about opening the Institute of Social Business at California State University Channel Islands [14] this month and how social business can help the Haitian earthquake recovery efforts.
