Conscious Business of the Week: B Corporations by B-Labs

B Corporations – Modeling Business for a New World

What a pleasure it is to admit BizLightenment is not the only company worldwide whose mission is to promote businesses who seek to use their power to create more than just profit.  The non-profit company, B Labs is doing just this via their conscious business certification called B Corporations.

The essence of B corporations is simple; Benefit.  And doing business with a B Corporation you can rest assured you are dealing with a company that is using its power to benefit our social and environmental landscapes. We are clearly no longer alone in this game and B Corporations are proof yet again that our times are a changing.

B Corporations – A Commitment to Benefit the World

The process of becoming a B Corporation is not overnight.  A company must demonstrate adhering to a specific set of requirements that show its commitment to solving social and environmental problems while providing their services.

Not small requirements, by incorporating the B Corporation guidelines, B Corps are indicating their operations are deeply rooted in a conscious business value system that upholds the health and vibrancy of employees, consumers and our planet as the key driving force. This is a new kind of business that goes beyond the interests of shareholders.

How does one become a B Corporation?

B Corporations stand out because they meet the standards of social responsibility set by B-Lab. Each company must go through an application process where they demonstrate their operations meet their set standard for regarding the concerns and needs of their employees, their community and the environment.  Simply, the application process confirms B Corps’ commitment to change.

The first step in the certification process is to complete a survey measuring the company’s procedures and protocols against the B-Lab standard.  The survey, developed with the assistance of more than 150 business owners, investors and academics, scores the business on their efforts.  To be considered for certification, the company must get at least 40 out of a 100 points revolving around practices such as employee benefits, philanthropic efforts, environmentally friendly practices & conscious decision making.

And B-Lab won’t simply take their word for it.  Applicants are asked to provide documentation for roughly 20% of what is asked about in the survey.  And to ensure their continued commitment, once accepted and certified, 10% of B-Corporations are audited each year in a rotating manner.

As co-founder Jay Coen Gilbert says, “We want to help consumers separate good companies from good marketing.”  And their detailed application process confirms this.

One of the main distinguishing qualities of B Lab certification is that a B corporation must actually amend its articles of incorporation to declare their consideration of their employees, community and environment.  Considering all in both the short-term and long-term, these amendments have the potential to support the business and shareholders as much as people and the planet.  These amendments will also ensure investors their values will be upheld as well as provide a solid mission to drive the company and its employees.

The Business Climate of the Future Today

B Corporations lie in every field of business, from catering to technology to financial consulting.  And as stated by B-Lab, “B Corporations’ transparent and comprehensive performance standards enable consumers to support businesses that align with their values, investors to drive capital to higher impact investments, and governments and multinational corporations to implement sustainable procurement policies.”

To us, a B Corps is a conscious business truly paving the way for the much needed change to our business landscape… A change that is benefiting the entire landscape of our world.

To learn more:  http://bcorporation.net

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