Identification of the Existing Social Problems and Proposing a Sustainable Social Business Model: Bangladesh Perspective

Social Business, comparatively as emerging concept, deals with social objective and betterment while being financially self-sufficient. The profit-maximizing orientation of traditional business firms often ends up with the exploitation of the under-privileged people of the society. Hence this research attempts to explain the prospect of implementing social business by private organizations to address those social problems which are challenging the lives of the under-privileged people of developing country like Bangladesh. The research is an exploratory qualitative research which uses in-depth interviews and survey method from 60 respondents to identify the existing major social problems and regression analysis to discuss the sustainability of social business in solving such problems. The study also proposes a financially sustainable social business model which actually combines the cause driven motive from a social perspective as well as sustainable orientation from business perspective. Finally the research initiates the necessity of implementing this mandatory drive by all socially responsible private organizations as the scopes of social business in serving the under-privileged section of the developing nation is very optimistic and optimal.