What are the features and issues of a B-Corporation - Essay Example

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The investigator seeks to investigate the features of B-Corporation and showcase the key issues, stakeholders as well as how their Models intervene with respect to Economic and Social development. The B-Corporation is also called the Benefit Corporation. These are Corporations…
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What are the features and issues of a B-Corporation? The investigator seeks to investigate the features of B-Corporation and showcase the key issues, stakeholders as well as how their Models intervene with respect to Economic and Social development. The B-Corporation is also called the Benefit Corporation. These are Corporations that are not only profit oriented but focuses on the environment as well as the community. The corporation’s decision making process is an all-inclusive one and incorporates societal and environmental stakeholders.
The purpose of the B Corporation must an additional duty to ensure the protection of the society and environment. The corporation can chose from the particular public benefit; to promote arts, protecting or revamping environment, science or knowledge advancement, improving human health, enhancing economic opportunity for persons and society besides the ordinary business course of jobs creation. The B corporation must establish an additionally purpose to create a general public benefits.
Public benefit can be a material positive effects on society as well as the environment with regard to the third party standard assessment as well as the operations of the B-corporation. With respect to Warby Parker Corporation, it has ensured public benefit via the donations. In conjunction with VisionSpring, the Corporation sells the glasses and sunglasses. The public benefit is ensured by its program of donation where for every pair of Warby Parker glasses bought, Warby Parker Company pays for the production of a pair of eyeglasses donated to the VisionSpring, an NGO. The VisionSpring thus sell to consumers or firms directly or indirectly. This donation program has ensured that the public interest is served by benefiting the visually impaired persons that buys these glasses at cheaper prices (Korhan 78). Warby Parker has been successful and has saved on cots of operation based on online business approach and delivery cab done in a day as well making it possible to test your eyeglass online by downloading a photo.
The donation has been impactful as by the July 2013, it had distributed over 500,000 to marginalize and the less fortunate groups. This is beneficial as people freely benefit from such arrangements and hence meets the purpose standards set for them. This program has really contributed to the social and economic development. In terms of social development, donations that are channeled through VisionSpring NGO has ensured the Special needs students and other visually impaired individual can execute their activities without challenges based on the inability to purchase the frames and glasses.
On the other hand, it has also led to economic development as people are employed to perform sales and distributions of these products to the special needs groups through VisionSpring either directly to consumers or to other firms. Besides, Warby Parker also employs many people who does the sales online and hence waiver the cost of production. In so doing revenues is raised at lower costs. The consumers thus benefits from the lower costs charged and hence making their products affordable. This is significance since the demand always rises with decreased prices. The Corporation can thus charge lower prices but still remain relevant and hence ensuring public benefits.
Work Cited
Korhan, Jeff. Built-in Social: Essential Social Marketing Practices for Every Small Business. , 2013. Internet resource. Read More
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