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MGMT 371 (Chaves): Principles of Management: B Corporations

Team Project

Definitions

 A Benefit corporation:

  • "have an expanded purpose beyond maximizing share value to explicitly include general and specific public benefit"
  • are required to consider the impact of their decisions not only on shareholders but also on workers, community, and the environment; and
  • are required to make available to the public an annual benefit report that assesses their overall social and environmental performance against a third party standard.

Certified B Corporation is a certification conferred by the nonprofit B Lab. 

  • “Certified B Corporations are a new type of corporation which uses the power of business to solve social and environmental problems.
  • B Corps are unlike traditional businesses because they meet comprehensive and transparent social and environmental performance standards, meet higher legal accountability standard and build business constituency for good business.” (B Lab: About B Corps.)

Social Business: is a cause driven business   

  • "In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point...Sustainability of the company indicates that it is running as a business.
  • The objective of the company is to achieve social goal/s."

Recommended Online Resources

Articles and reports freely available online

Databases and UofSC resources

Rankings & Indices

B Corp Anthem - B The Change

Webinar Series: The Path to B Corp Certification Pt I & II