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What is a Benefit Corporation and is it the Future of Business?

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Information about What is a Benefit Corporation and is it the Future of Business?
Business & Mgmt

Published on February 18, 2014

Author: ChrisMohritz

Source: slideshare.net

Description

In recent years, as the terms "B Corp" and "benefit corporation" have been used more frequently, they have also mistakenly been used interchangeably.

Join us to learn about the B Corp and Benefit Corporation business structures and how they can help your business. Find out if this new social value-friendly business structure is right for you.
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BENEFIT CORPORATIONS Business of the People, by the People, for the People +Chris Mohritz | chris@mohritz.co | #IdeaToOperations

OUR JOURNEY ● ● ● ● The Problem The Solution How It Works Considerations Discussion (not just a presentation) Interupt me at anytime (questions / comments)

WHAT WILL YOU DO WITH SUCCESS? google.org/projects.html nypost.com/2012/09/02/apple-tries-to-fix-rep-asstingest-company

THE PROBLEM

CONSUMERS WANT SOCIAL IMPACT ● conecomm.com/2013-social-impact

STARTUPS WANT SOCIAL IMPACT forbes.com/sites/skollworldforum/2013/05/02/the-rise-of-socialentrepreneurship-suggests-a-possible-future-for-global-capitalism skollfoundation.org

LEGAL SYSTEM REQUIRES PROFIT "A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of means to attain that end, and does not extend to a change in the end itself, to the reduction of profits, or to the non-distribution of profits among stockholders in order to devote them to other purposes." benefitcorp.net/storage/Benefit_Corp_vs_Traditional_Corporations.pdf

THE SOLUTION

BENEFIT CORPORATION bcorporation.net/open-letter-to-business-leaders

OPTIONS (Legal) Benefit Corporation ● bcorporation.net/what-are-b-corps/legislation (Certified) B Corporations ● bcorporation.net/what-are-b-corps

HISTORY en.wikipedia.org/wiki/Benefit_corporation

THE FUTURE benefitcorp.net/state-by-state-legislative-status

HOW IT WORKS

CORPORATE SOCIAL RESPONSIBILITY Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them. It goes beyond philanthropy and compliance and addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm. hks.harvard.edu/m-rcbg/CSRI/init_define.html

REQUIREMENTS benefitcorp.net/reporting-requirements

CONSIDERATIONS

CONSUMER CSR PRIORITIES

WHERE TO PUT CSR MESSAGES conecomm.com/2013-social-impact

MESSAGE-TO-MARKET MATCH ● Today, customer drives the boat ● If we don’t engage them, someone else will ● If we don’t match their worldview, someone else will csrwire.com/blog/posts/1193-beyond-demographics-the-new-responsible-consumer-profile

CAUSE MARKETING causemarketingforum.com/site/c.bkLUKcOTLkK4E/b.6448621/k.B22B/Cause_Marketing_101.htm

IMPACT INVESTING “...investments made into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return.” thegiin.org

RESOURCES ● ● ● ● ● ● ● ● ● conecomm.com/2013-social-impact benefitcorp.net bcorporation.net csrwire.com csreurope.org causemarketingforum.com skollworldforum.org thegiin.org philanthropy.com

TO SUM IT UP... ● Conscious Capitalism becoming the norm?

Feedback? Questions? chris@mohritz.co

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