When he asked for a meeting with Nobel Laureate Muhammad Yunus, Franck Riboud, CEO of Group Danone, a global corporate giant (whose American brand name is Dannon), didn't realize that his concept of doing business was about to change forever. A few hours and a hand shake transformed the hard driving, profit-motivated executive, into an unwavering advocate of 'social businesses'. Barely a year later, Riboud joined Professor Yunus in Bangladesh to launch Grameen Danone, with the mission of producing and selling specially-fortified yogurt to improve the health of poor Bangladeshi children.
In his new book, Creating a World Without Poverty: Social Business and the Future of Capitalism, Professor Muhammad Yunus expands his vision with the pioneering idea of social businesses. These companies operate as businesses with a strictly social mission and reinvest their profits to further their mission rather than distributing dividends to shareholders.