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Using Business As a Force for Good
- 1. Best for the World, Best for NYC A Global Movement of Entrepreneurs Using Business as a Force for Good
- 2. Fulfilling the Promise of Capitalism 20th Century Maximize Shareholder Value 21st Century Maximize Shared Value
- 3. A Global Movement of Entrepreneurs 100,000+ Entrepreneurs • Government & non-profits necessary but insufficient • Business can attract capital and talent at scale • Business is means to solve society’s greatest challenges
- 4. Not Just Entrepreneurs People want to use business as a force for good Sustainable businesses 100,000+ Conscious consumers 60 million Americans Responsible investors $3.5 trillion invested Workers 100 mm Millennials
- 5. The Problem System not designed for this • Corporate law is an impediment • No standards to distinguish ‘good companies’ from good marketing • No norms and no institutions = no scale
- 6. B Corps are leading a global movement of entrepreneurs with one unifying goal . . Redefine success in business So that one day all companies compete not only to be best in the world, butbest for the world Which leads to a society with shared and durable prosperity for all.
- 7. What is a B Corporation? Certification for companies that use business as a force for good B Corps meet higher standards of: • Social and environmental performance • Transparency • Legal accountability
- 8. 860 B Corps, 60 Industries, 28 Countries
- 9. 15,000 Companies Measure What Matters Measure What Matters (B Impact Assessment) 860 B Corporations 15,000 Other Businesses 100 Funds Managers & Investors 40 Business Associations
- 10. The B Corp Community Drives Policy Change
- 11. Matt Stinchcomb Etsy is a marketplace where people around the world connect to buy and sell unique goods. Its mission is to reimagine commerce in ways that build a more fulfilling and lasting world. •Brooklyn, NY •450 Employees
- 12. Samira Rajan Brooklyn Coop is a community financial institution. Its mission is to further wealth building, resilience, and opportunity in the communities it serves - like Bed-Stuy and Bushwick – offering access to fair and affordable financial services. •Brooklyn, NY •10 Employees
- 13. David Bolotsky Since 1999, UncommonGoods has been offering artists, designers and shoppers a way to express their individuality through creative design and to do so in a sustainable manner. The company runs its entire operation, including its warehouse and call center, under one roof in Sunset Park, Brooklyn. •Brooklyn, NY •150 Employees
- 14. Michael Elsas CHCA is the largest worker owned cooperative in the US. It employs over 2300 home care workers who provide in home care services to the elderly and people with disabilities primarily in the Bronx and upper Manhattan. They provide over 3 million hours of service with revenues of $64 million. •Bronx, NY •2300 working owners
- 15. Thank you! Put your purpose into practice @ bimpactassessment.net Bake it into your DNA @ benefitcorp.net Be recognized as a leader@ bcorporation.net
Notas del editor
- The Lead: We are in the early stages of a massive systemic change. It is The Evolution of Capitalism. 20th Shareholder to 21st Shared Value – There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits. Milton Friedman. This has become race to bottom: Short term. Wealth at all costs. Externalities that harm people and the environment.Business maximizing value for shareholders and other stakeholders simultaneously. In the process, alleviating poverty, restoring the environment, creating economic opportunity for all.
- These entrepreneurs recognize that govt, non profit can’t solve our problems, and that capitalism has unique capacity to attract talent and capital at scale. This isn’t CSR – the purpose of their business – the end, not the means – is to create positive social impact.
- ALMOST all components of a marketplace