Profit and Social Responsibility

Profit and Social responsibility
 
I have known for some time that there are many businesses which are committed to owning their role as community members whose behavior impacts the local, national, international and planetary community.  I have known that businesses who treat all of their employees, customers and the larger community with respect can make a profit for themselves and, if applicable, their shareholders.  I did not know, however, that there is a movement/organization which such business can join thereby giving support and encouragement to each other as well as showing the larger community that together these businesses make a huge difference.   The name of the organization is B Copr.  In May of 2017, according to the B Corp website – bcorporation.net – there were 2564 certified B Corp businesses in 50 countries representing 130 industries.
 
In one goggles B Crop one finds the following description:
 
“Individually, B Corps meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to the use of the power of markets to solve social and environmental problems.  Collectively, B Corps leads a growing global movement of people using business as a force for good.  Through the power of their collective voice, one day all companies will compete to be best for the world and society will enjoy a more shared and durable prosperity for all.”
 
B Corps are more likely to:

• 68%  - to donate at least 10% of their profits to charity.
• 47% -  to use on site renewal energy
• 18% -  to use suppliers from low income communities.
• 45% -  to give paid professional development opportunities.
• 55% -  to cover at least some health insurance for employees.
• 45% -  to give bonuses to non-executive members.
• 28% -  to have women and minorities in management.
• 2.5x -  to give at least 20 hours per year paid time off to volunteer.

I strongly suspect B Corps business are more likely to:
 

• Think long term.
• Have low turnover.
• Have more productive employees
• Have fewer personnel problem
• Use values/ethics which many cultures may traditionally think of as more feminine than masculine
• Make team decisions and if a decision does not work focus on problem solving rather than blame.

 
I did not immediately locate any research results supporting my suspicions but given what I do know as a business person and as a social scientist these assumptions could be easily researched.  Certainly, other forward thinking business leaders such as Margaret Heffernan would support these business principles.
 
The bottom line is that as Grandma Fannie (and many others) would assert:  You catch more flies with honey than vinegar.  The better we treat each other, the environment and the larger community in any setting the better each will function.  Of course, there are folks who are acutely mentally ill and/or so wounded that they are unable to function in a healthy environment.  These individuals deserve our compassion and support  
 
It would be great if all governments would adopt the values and goals of B Corp. We do not, however, have to wait for them to fill the leadership void.  Local companies and communities can and often are filling this leadership void.
 
It is our planet. The responsibility for caring for all aspects of the planet – people, environment - is the responsibility of each of us. We all can band together to make this happen.   The B Corp certification process can help business owners set clear socially responsible goals and provide the guidance to make them reality.
 
Written June 28, 2018