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Representatives from the academe, business sector, marginalized communities, civil society organizations and government departments attended the first edition of Social Business Socials (SB Socials) in Dumaguete last October 2 at the newly inaugurated Edgar Pasimio Memorial Clinic of Foundation University.

 

Themed, “Solving Social Environment Challenges Through Business Enterprise,” the event was aimed at gathering multi-sectoral representatives in order to discuss means in addressing the various social and environmental challenges currently faced by the locality through the inception of social businesses.

 

Based on the concept coined by Nobel Peace Laureate Prof. Mohammad Yunus, “the social business model combines the operational structure of a for-profit business with the social goals of a non-profit by reinvesting any profit to expand the business or create another business to achieve one or more social goal challenge.”

 

Spearheaded by Foundation University, the said convergence of various sectors envisioned to create sustainable development solutions to societal problems in the grassroots level. The event seeks to encourage business, academe, government and civil society to learn from each other through dialogues and in duplicating the other sectors’ best practices that can be applicable to their context.