Profiting the Underprivileged
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Accession Number80767
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TitleProfiting the Underprivileged
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Material TypeSerial and Newspaper
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LanguageEnglish
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AuthorSirinya Wattanasukchai
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Journals/ NewspapersBangkok Post (Outlook)
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Page(Jul. 1, 2010) : 1
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Year2010
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Subjectsbusiness, social aspects, social development, disadvantaged groups, Philippines, Thailand
Deals with social entrepreneurship. Compares profit-maximizing businesses with social enterprises, for which profit means environmental or social solutions instead of only money. Provides the pioneer example of Muhammad Yunus's Grameen Bank, which grants loans to the underprivileged. Explains that a social enterprise takes everything into account, from employee and consumer to environment and society it serves the marginalized but still earns money. Presents the example of Philippine social brand Rags2Riches, noting however that Thailand is still difficult terrain for such projects, as the non-profit and profit sectors stand in strong opposition to each other. Looks at social enterprise BE Magazine, initiated by Alan Archapiraj to help homeless people in Thailand by hiring them to sell the magazine. Explains that while the homeless can use their small profits to start a business, the company also makes money from each sold copy. Argues that social enterprise is a perfect marriage , building on businesses' desire to improve society while making up for NGOs' lack of management and financial skills. Adds the example of Thai company Opendream, which enhances websites for non-profit organizations that can't afford expensive services. Notes that Opendream is implementing an application for the blind to access the prime minister's official website.
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