Giving Compass' Take:

• The B Impact Assessment is a standardized tool that helps businesses measure impact. Recently, there were three significant changes made to this assessment: expanding goals, customizing stewardship, and incorporating more questions around workplace inclusivity. 

• How will these changes increase the impact of businesses? How accessible is this tool? 

• Read more about how to build a social impact business. 

The B Impact Assessment is a free, easy-to-use, standardized tool used to measure and manage the impact performance of a business. Companies can use it to qualify to be a Certified B Corporation, assess the performance of their own company and compare it to the performance of others, and identify and track opportunities for improvement.

It’s go time for Version 6 of the B Impact Assessment (BIA), the primary tool for the Certified B Corporation movement that covers all stakeholders and aspects of companies.

BIA over time has adapted standards that are globally relevant, although the opportunity remains to bring in more perspectives. To ensure continuous improvement, the BIA is updated every three years based on feedback, innovations in impact best practices, and emerging social and environmental issues.

The latest update, Version 6, took shape from more than 900 pieces of new feedback on the draft shared during the testing and public comment period. Read on for more details on three of the biggest changes: goal-structure functionality, customer stewardship, and diversity, equity and inclusion.

  1. New Goal Structure: Version 6 has a new goal structure designed to make the BIA more standardized — so that it equally applies across different types of companies — and outcome- and value-oriented.
  2. Customer Stewardship: Customers are a core stakeholder impacted by all businesses, and in the spirit of aligning with other standards a new section has been added to assess how all companies produce and manage value and impact for customers and other consumers.
  3. Diversity, Equity, and Inclusion: Version 6 features more detailed questions around inclusive workplace practices and reworked quantitative diversity questions that create a more detailed, consistent and globally relevant set of performance metrics.

Read the full article about B impact assessment at B the Change