Flashcards in 5003 - Corporate Social Responsibility (CSR), Sustainability, and the Circular Economy - Bcorps and the B-Economy (Lecture 4) Deck (5)
- Define a B Corp
- Understand the meaning of the B-Economy
- Be able to select Bcorps to use as benchmarks for your chosen companies in your assignment
The B Corporations and leaders of this emerging economy believe:
- They must be responsible for the change they seek in the world
- All businesses should operate as if people and place really matters
- Businesses should aspire to do no harm and benefit everyone
- Business acts with the understanding that we are each dependant upon one another and thus responsible for ourselves, each other and the future generation.
What is a B-Corporation
A for-profit businesses that commits to having a positive impact on society and their environment
What does it take to be a B-Corporation
To be a B Corp, businesses must go through a rigorous certification process which measures their entire social and environmental performance. And once they are certified, they must sign a legal agreement to confirm their board members will always consider the impact on their stakeholders when making decisions.