“Your kids and your grandkids will demand more from work than a paycheck. They will demand a purpose. They will demand more from business than products that are made cheap, fast, and disposable. They will demand products and services that create a positive impact in the world.”
We have all experienced the cultural shift from a maximizing short-term shareholder value to boosting long-term shared value. The mentality has changed and there is no looking back. The B Corp Handbook, is a great resource to understand the “Caring Capitalism” revolution through the eyes of businesses like Patagonia, Ben and Jerry, and Etsy.
The B Corp movement has quickly become a relevant business standard, poised to have a similar impact to Fair Trade and USDA organic. On April 16th, Etsy became only the second for-profit company to go public out of more than 1,000 companies that have that certification, and it created a buzz on Wall Street. Tapping into the experience and insights of companies like these, is what Honeyman does best. He takes what is a sometimes complicated idea and breaks it down to relatable terms. The result is a simple, step-by-step on how doing good can help a business attract better talent, stand out from the crowd, increase brand awareness, and creating loyalty. All this while still making profit.
This book helped us navigate B Lab’s assessment. It made us aware of things that we could change in order to improve our score. It also opened our eyes to other companies that took the same route as we did and learn from them. B Corp has proven to be a great community with professionals that are passionate about what they do, and are willing to lend a helping hand whenever the need arises.
Ryan does an excellent job at portraying the value of the B Corp movement. It’s not necessary the rapid growth in numbers, but “when businesses measure the effects of their operations on all of their stakeholders, compare themselves with their industry peers, and start to compete to be the best for the world rather than just best in the world, we will be making progress toward a shared and durable prosperity for all.” That is success!