Exploring B Corporations and Traditional Businesses
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Abstract
B-Corporations (B-Corps) are an emerging business model moving from profit maximization to a blend of social, environmental, and financial goals. The premise of a certified B-Corp indicates validation of a company’s corporate social responsibility. We use social programs of two certified B-Corps and two Fortune 500 Companies to explore the differences between B-Corps and traditional corporations in the beverage industry. We research the impact of the company’s social programs on their stakeholders to analyze the differences between B-Corps and traditional businesses. We found all four companies to focus on their workers, customers, communities and Board of Directors as stakeholders. The companies exhibit similar focus and actions for their workers, customers and communities. We found the main difference to relate to the Board of Directors as a stakeholder. The Board of Directors for B-Corps must focus on stakeholder impact per their corporate governance while traditional corporations focus on the accountability to their shareholders.
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