The challenge I set before anyone who condemns private-sector business is this: If you are a socially conscious person, why don't you run your business in a way that will help achieve social objectives?
Interpretation
The quote encourages socially conscious individuals to engage in business practices that promote social good.
Muhammad Yunus challenges critics of private-sector business by urging them to take action and conduct their business in a manner that aligns with social objectives. He suggests that instead of just condemning existing businesses, individuals who care about social issues should lead by example and demonstrate how private enterprises can contribute positively to society.
In practice
In a speech about corporate responsibility, one might refer to this quote to emphasize the role of businesses in societal development.
Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things.
What I did not know yet about hunger, but would find out over the next twenty-one years, was that brilliant theorists of economics do not find it worthwhile to spend time discussing issues of poverty and hunger. They believe that these will be resolved when general economic prosperity increases. These economists spend all their talents detailing the process of development and prosperity, but rarely reflect on the origin and development of poverty and hunger. A a result, poverty continues.
People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.
Some people think that poor people are lazy. Actually, it takes a lot of work to survive when you are dirt-poor.
Once poverty is gone, we'll need to build museums to display its horrors to future generations. They'll wonder why poverty continued so long in human society - how a few people could live in luxury while billions dwelt in misery, deprivation and despair.
By simply capitalizing on core strengths and knowledge, companies and entrepreneurs can engage in an emerging business model that will enable them to create - and demonstrate - real, sustainable social impact in society.
Sometimes the biggest gain in productive energy will come from cleaning the cobwebs, dealing with old business, and clearing the desks—cutting loose debris that's impeding forward motion.
The biggest challenge in business is not the competition, it's what goes on inside your own head
And I'm not apolitical - I'm very specific in my politics. But a lot of the time it's nobody's business unless you're over at my house having dinner.
Competition is the keen cutting edge of business, always shaving away at costs.
When most people ask about a business growing, what they really mean is growing revenue, not just growing the number of people using a service. Traditional businesses would view people using your service that you don't make money from as a cost.
It is not the business of politicians to please everyone.
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