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B-Corp Business - Essay Example

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B-Corp is a global movement, which has been organized in order to “redefine success in business and build a more inclusive, resilient, and sustainable economy” (B-Corp Annual Report 2012, 6). The ideology that is promoted by this community is based on the pillars of…
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B-Corp Business
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Download file to see previous pages In order to become a B-Corp, there exists the whole certification process named “B-Corp Certification”. This certification implies the process of validating the company’s social and environmental performance which is measured through the special impact assessment framework (Bcorporation.net, n.d.). The process of certification has three stages: meet performance requirement; meet legal requirement; and make it official (Bcorporation.net, n.d.). The company’s performance is assessed based on the overall impact which it has on the stakeholders. This assessment is lasting for 1-3 hours, depending on the company’s size, location, and sector in which it operates. Then, one of the B Lab staff members appoints an Assessment Review session in order to clarify questions and enable the company to refine the answers (Bcorporation.net, n.d.). In case the company’s score is between 80-200 points, the B Corp team members provide the applicant with information on how to submit supporting documentation. When Assessment review stage is completed, the company has to complete Disclosure Questionnaire, where it informs about any sensitive practices, sanctions and fines related to this company or its partners (Bcorporation.net, n.d.). While the majority of such disclosures are not essential, there are cases when there are material disclosures which require more attention. In this case, the company’s management will need to provide more information on this issue. Decision about acceptance and membership/participation of the company in the B Corp community is made by the B Lab’s Board of Directors and Standards Advisory Council (Bcorporation.net, n.d.). The B Corp Certification process should be completed every two years.
As it has been already mentioned the B Corp community is comprised of more than 1000 businesses. These companies operate in 60 different ...Download file to see next pagesRead More
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