This infographic by GOOD & Deeplocal explains what B-Corporations are, along with their benefits. B-Corporations are businesses that seek to solve environmental and social problems; a non-profit organization called B-Lab determines eligibility, and certifies companies to ensure that they follow and meet standard requirements. In order for a company to qualify as a B-Corporation, they have to earn a score of 80 or more on a specialized assessment.
According to this chart, there are now 500 B-Corporations in over 60 different industries. Several states in the US have passed legislation to allow companies to set up this type of business. Currently, Michigan, Colorado, Pennsylvania, Washington, Illinois and North Carolina are awaiting approval.
B-Corporations are a great way for businesses to positively contribute to society, as the model helps generate innovation in areas of social and environment issues.
Explanatory Corporation Graphs
This GOOD & Deeplocal Chart Explains Specific Business Models
Trend Themes
1. B-corporations - B-Corporations are businesses that seek to solve environmental and social problems, providing opportunities for disruptive innovation in sustainability and social impact.
2. Legislation for B-corporations - The passing of legislation in multiple states to allow companies to set up B-Corporations creates opportunities for disruptive innovation in legal frameworks and corporate governance.
3. Innovation in Social and Environmental Issues - The B-Corporation model encourages businesses to generate innovation in areas of social and environmental issues, presenting opportunities for disruptive solutions and business models.
Industry Implications
1. Corporate Governance - The growing popularity of B-Corporations and the need for appropriate governance structures presents opportunities for disruptive innovation in corporate governance practices and guidelines.
2. Sustainability - The rise of B-Corporations as businesses striving to solve environmental problems offers opportunities for disruptive innovation in sustainable practices and technologies.
3. Social Impact - The focus on social impact in B-Corporations motivates disruptive innovation in social entrepreneurship and community development, creating opportunities for new business models and strategies.