A Better Way to Do Business?
May 12, 2011
Google Maps can tell you what restaurants are nearby but it can’t tell you which one treats its employees well or which one has taken meaningful steps to reduce its environmental footprint; B Lab can. B Lab is a nonprofit that designates companies as Benefit Corporations (B Corps) if the company meets defined standards regarding how it treats its employees, the environment, and the community. Additionally, shareholders must agree to revise the company’s bylaws to allow business decisions to consider greater societal impacts in addition to minimizing costs and maximizing profits. This allows socially responsible decision-making without fear of shareholder