Generally, All approaches intend to increase the sustainability of SiA Organization activities and ensure that any activity done by SiA has a long-term impact on beneficiaries.
Approach #1: Social Business Approach
Origin of Social Business Approach
This approach is inspired by Yunus Social Business Model that defines social business as a business with a social mission at its core. 100% dedicated to solving human problems. A social business creates income for disadvantaged populations or serves them as its primary customers. 100% of the organization/company profits are reinvested in continuing the organization’s social mission.
A social business is an organization/company with a social mission at its core. Set up to solve a specific problem to the benefit of poor or disadvantaged members of society, social businesses operate exactly like normal companies except for a few small differences.
Social businesses generates profit and aim to be financially self sustaining. This allows social businesses to re-invest profits back into generating sustainable social impact.
Seven principles of social business
These were developed by Professor Muhammad Yunus and Hans Reitz, the co-founder of Grameen Creative Lab:
- Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization.
- Financial and economic sustainability
- Investors get back their investment amount only. No dividend is given beyond investment money
- When investment amount is paid back, company profit stays with the company for expansion and improvement
- Gender sensitive and environmentally conscious
- Workforce gets market wage with better working conditions
- …Do it with joy
Application of Social Business Approaches in SiA
SiA Organization is not a Business entity and does not intend to conduct businesses. The Social Business approach is applied and promoted in SiA initiatives including programmes/projects and campaigns.
Why Social Business Approach
- Ensure continuation of activities after project phaseout
- Facilitate long term impact of Projects
- Solve social-economic problems in the community
- Promote financial sustainability of SiA’s beneficiaries income-generating projects facilitated by SiA
What SiA intends to do
- Encourage formation of social business organizations/companies/groups
- Facilitate adoption of Social Business Model in Social Business organization/companies/groups
- Link Social business companies/groups with financial agencies and encourage the use of Social Business Model
Approach #2: Development Oriented Researches for Learning Approach
SiA aim to conduct research focusing on
Research that solves Social, Economic, and Environmental Problems
Research in collaboration with beneficiaries and Development Stakeholders
Research that intends to gain knowledge
Research that includes sharing of gained knowledge
Validity and Reliability
Research that uses the best method, technique, and measurement.
Reliability is about the consistency of a measure, and validity is about the accuracy of a measure.