A Memorandum of understanding between Nobel Laureate Professor Muhammad Yunus and Wendy Woods, Global Head of Social Impact Practice of Boston Consulting Group was signed on the sideline of UN meetings, on September 26 to form a global partnership. The Boston Consulting Group (BCG) is a global management consulting firm which is considered one of the most prestigious management consulting firms in the world. BCG was ranked second in Fortune’s “100 Best Companies to Work For” in 2015. In its statement The Boston Consulting Group said “Muhammad Yunus and Yunus Social Business have built an effective and innovative network of organizations with a proven track record in using business approaches to solve social problems”. Founded in 1963, BCG is a private company with 82 offices in 46 countries.
With this MOU Professor Muhammad Yunus and his organization Yunus Social Business (YSB) will get a special status with BCG. YunusSocial Business becomes the sixth partner of BCG globally which allows Yunus Social Business to receive all their global services to help it grow around the world.
On the same day, Former President Bill Clinton welcomed Professor Muhammad Yunus at Hult Prize Award Ceremony. Professor Yunus gave the key note speech at Hult Prize Award Ceremony which took place at the Clinton Global Initiative venue in downtown Manhattan. ProfessorYunus addressed 1000 guests, acknowledging all six finalists and spoke about social business. Professor Yunus in his speech emphasized on three zeros which is i) zero poverty, ii) zero unemployment, and iii) zero carbon emission and added that the world must adopt a policy of three zeros to attain a sustainable development. To achieve his goals, he said we needed four things: a) the energy and creativity of the youth, b) the power of technology, c) social business, and d) good governance. The Hult Prize is a yearly competition in which student-run social entrepreneurship companies propose solutions to the most pressing humanitarian issues facing the global community. This year’s challenge selected by former President Bill Clinton, is to “solve the lack of quality early childhood education in the urban slum,” This year a group from National Chengchi University in Taipei called IMPCT.com whose PlayCares concept aims to revolutionize the way kids in urban slums receive care and education won $1 Million Hult Prize.
Professor Yunus was one of the four judges which included entrepreneurial and political heavyweights like former prime minister of Australia Julia Gillard, African billionaire-philanthropist Mo Ibrahim and former CEO of a global company Charles Kane. President Clinton announced the winner and addressed the gathering.
Prior to arriving New York professor Yunus gave Wasan Lecture at the Illinois Institute of Technology in Chicago and addressed the faculty of and students of Booth School of Business at University of Chicago.