What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
Giving Compass' Take:
• This story from B the Change argues that society must reimagine the purpose of business to affect lasting and sustainable change.
• What will it take to convince businesses to redefine success? If we assume that business leaders are motivated by money, what can serve as an equally appealing incentive that would encourage business men and women to pursue positive social impact above profit?
• To learn about five benefits of becoming a 'B Corp', click here.
Sometimes change is voluntary. Sometimes change is driven. Sometimes change is unwelcome. Change is inevitable and important. And while it can be difficult, making change to address and improve a failing system is critical.
Consider the current global economy, long driven by growth-at-any-cost capitalism, which isn’t meeting the needs of most people, according to Jay Coen Gilbert, an advocate for purpose-driven business and co-founder of B Lab, which oversees B Corporation certification.
“We need to evolve this institution of capitalism so that it is serving the interests of all people and communities, not just the interests of shareholders,” Coen Gilbert says. “We need to reform the institution of capitalism so that ‘in order to maximize profit’ is no longer the driving force and sole purpose of business.”
In the B Corp community, that driving force is business that benefits society and environment while creating a better future and delivering on the bottom line. With more than 2,600 companies in 60 countries on board, the B Corp movement is embracing change through its everyday business practices and leading through its actions.
It’s time for change — ready to drive?
Read the full article about the Purpose of Business at B the Change