Business can be utilised as a force for good, contributing to a better future. Pioneering companies are realising that they can generate profits while also creating positive social and environmental impacts. This concept, known as ‘shared value’, is being adopted by corporations globally. Shared value businesses understand that their success is intertwined with the wellbeing of the communities they operate in.
B Lab, a non-profit organisation, is leading the charge in this area. They have developed a rigorous certification process for these companies, known as B Corporations. B Corporations are legally required to consider the impact of their decisions on all stakeholders, not just shareholders. This differs from traditional businesses, which prioritise shareholder interests above all else.
The B Corporation movement is gaining momentum, with over 1,000 companies in 33 countries currently certified. These companies span various sectors, from food and beverage to financial services. B Corporations are proving that businesses can be both profitable and a force for good, paving the way for a more sustainable and inclusive economy.
Critics argue that businesses should focus solely on profit-making, but B Corporations challenge this notion. They demonstrate that companies can thrive while also addressing social and environmental issues, thus contributing to a better tomorrow.
Go to source article: http://skollworldforum.org/2014/12/17/using-business-as-a-force-for-good-the-key-to-a-better-tomorrow/