May 2014

Mohammad Anas Wahaj | 31 may 2014

Nobel laureate, Professor Muhammad Yunus, build the idea of microcredit and developed the concept of social business to solve social problems and created a substantial number of social entrepreneurs. According to him, 'application of social business concept in overcoming unemployment can produce a sustainable solution.' He is now embarking upon next level of social business concept, where loan or microcredit borrowing is displaced by equity investment in prospective social businesses, to tackle the problem of large number of youth unemployment. Social business funds are created for this purpose and the New Entrepreneur initiative was launched alongwith the Design Lab platform to bring entrepreneurs and investor funds together. (Social Business Funds -> Equity Investments -> Entrepreneurs -> Employment). This concept will be further expanded into self sustainable, unemployment and social problem free, autonomous Social Business Villages. Read on...

Huffington Post: "We Are Not Job-Seekers, We Are Job-Creators"-- Turning Unemployment into Entrepreneurship
Author: Muhammad Yunus

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Mohammad Anas Wahaj | 27 may 2014

The purpose of nonprofits is to utilize the public donations and contributions in the most efficient manner for their stated causes and in the best interest of the communities they intend to serve. But sometimes this is far from true. According to the Charity Navigator website, 'Many of the charities with CEO's making more than US$ 250000 a year use less than 60 percent on average of their revenue for their stated goals, this means that these organizations are using at least 40 percent of donations for administrative and fundraising costs which includes very lucrative salary packages for Executives.' Some of the negative issues regarding nonprofits that hinder their proper functioning and achieve their social causes include - Greed and misrepresentation at the top; Bureaucratic functioning particularly for large nonprofits; Government regulations, restrictions and bureaucratic hurdles; Multiple regulating agencies. Recent report by Connecticut Institute for 21st Century states, 'The contracting process is difficult at best, it is inconsistent across agencies, time consuming and inherently unfair to nonprofit service providers. This has led to mistrust between the nonprofit community and the state and a nonprofit community resistant to systemic change.' Brookings Institute study justifies the mistrust that people have on charities & nonprofits - 'Just 11 percent of the public think that nonprofits are spending their money wisely and only 19 percent feel that they do a good job of running their programs effectively.' Smart and streamlined regulations that put a cap on executive compensation, limit administrative costs, improve efficiency and innovation, bring transparency and honesty and at the same time protect the whistle-blowers who report wrongdoings, will ensure proper functioning and best possible use of public money by NGOs. Moreover a rating system can be evolved that should be based on the parameters that indicate whether the organization is meeting its stated goals or not. Read on...

OpEd News: For Profit - Why the Non Profit System can't seem to get it right
Author: Cory V. Clark

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Mohammad Anas Wahaj | 20 may 2014

Ability is defined as the proficiency and skill that human beings possess to perform and fulfil their desired goals and objectives. Every individual has varied and diverse forms of abilities that provide them competences to succeed for their own personal progress and also to contribute for the development of humanity. Dr. Huzaifa Khorakiwala, CEO of Wockhardt Foundation, suggest 7 guidelines to recognize one's own abilities - (1) Identify strengths (2) Select a mission and goal that compliments strengths (3) Make it public (4) Have faith and belief in yourself (5) Work hard with passion (6) Develop knowledge, intelligence and skills that coincides and converges with the mission (7) Enjoy the process of self discovery and unearthing of real potential. Read on...

Speaking Tree: Ability is to have the skills to do something
Author: Huzaifa Khorakiwala

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