NSU Research Contributions
Title : Elderly Homes and Shelters in Bangladesh-Struggles for Sustainability
Authors : Sharif Ahkam, Shabnin Shorna, Hannan Chowdhury
Abstract : Facilities for the old people classified in the senior citizen group are woefully inadequate in Bangladesh. While the government has attempted to address the needs of elderly people, a lot more needs to be done. A social business (SB) initiative addressing the needs of the people in this group may provide a successful response to the needs of the elderly of the country. While a SB aims to achieve its social or environmental objectives, it also strives to be financially self-sufficient. A SB generates revenue through its products or services, covers its operational costs, and reinvests profits to further its mission. In this paper, we have made a few recommendations that an SB (Mutual) Fund or an Islamic Mutual Fund may be created to develop and operate facilities for the elderly and allow them to live in a dignified way. Achieving success necessitates a design capable of producing ample revenue to cover operational expenses and yield a sensible surplus. The challenge of sustainability encompasses not only generating revenue but also guaranteeing the ongoing operation when the initial sponsor or manager relinquishes control. This article tackles two primary obstacles in running Elderly Shelters as social business units. The first challenge encompasses generating income to enable potential residents to secure their accommodation and sustenance through various initiatives. The second, is ensuring the long-term viability of the service, particularly during periods when a transition becomes necessary or inevitable.
| Journal : Journal of Knowledge Globalization | Volume : 15 | Year : 2024 | Issue : 1 |
| Pages : 21-53 | City : | Edition : | Editors : |
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