College to use business model to tackle social ills
2011/05/18
SUBANG JAYA: A business model is not only for profit-making ventures, but should also be utilised as a tool to combat social woes in the country.
This is the aspiration of Binary University College's Centre of Social Entrepreneurship (CSE), which had embarked on various initiatives to engage the people in tackling social problems.
The centre's honorary adviser, Datuk Dr Denison Jayasooria, said the concept was new compared with the traditional business concept, which had always run for the maximisation of profits.
"The concept of entrepreneurship, enterprise, business and management are already well known.
"Now, we attach the social dimension to it by using business models to focus on the well-being of the people and the environment."
He cited an example of a group of youth collecting and turning discarded items into handicraft products for sale, and said the initiative would be a boon for them.
"The traditional business model is greed-driven maximisation of profit, exploitation of workers and the environment. This is the ugly side of business.
"But incorporating business models with social objectives will provide something more unique and effective in addressing social problems, which we plan to explore further."
Denison added that the centre would start enrolling postgraduate students to do research in the area.
"We are trying to get people who study entrepreneurship and management to change their mindset that business can also be used for social objectives to benefit the nation in the long-run."
He said the centre would also offer sponsorships for five PhD candidates to do research in the area next month.
CSE had begun working with experts from several local and Australian institutes of higher learning in conducting a study in the area.
Denison said the college was among the first in the country to set up such a centre.
The centre's honorary adviser, Datuk Dr Denison Jayasooria, said the concept was new compared with the traditional business concept, which had always run for the maximisation of profits.
"The concept of entrepreneurship, enterprise, business and management are already well known.
"Now, we attach the social dimension to it by using business models to focus on the well-being of the people and the environment."
He cited an example of a group of youth collecting and turning discarded items into handicraft products for sale, and said the initiative would be a boon for them.
"The traditional business model is greed-driven maximisation of profit, exploitation of workers and the environment. This is the ugly side of business.
"But incorporating business models with social objectives will provide something more unique and effective in addressing social problems, which we plan to explore further."
Denison added that the centre would start enrolling postgraduate students to do research in the area.
"We are trying to get people who study entrepreneurship and management to change their mindset that business can also be used for social objectives to benefit the nation in the long-run."
He said the centre would also offer sponsorships for five PhD candidates to do research in the area next month.
CSE had begun working with experts from several local and Australian institutes of higher learning in conducting a study in the area.
Denison said the college was among the first in the country to set up such a centre.
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