As we digest the fallout of yet another big corporate scandal, there are plenty of people left wondering, once again, why there isn’t a better way of doing business. There is. It’s called the B Corporation movement and it arrived in the UK last month.
Unlike other companies, a certified B Corporation has to live up to much higher standards of corporate governance and transparency.
Importantly, it must also have enshrined in its corporate constitution a commitment to pursue broader social goals than simply profit for shareholders. If this sounds a bit too much like the sort of hippy idea you might find in a Jeremy Corbyn election manifesto, take note: my company, the upmarket frozen food retailer Cook, became one of the UK’s first certified B Corporations two years ago.
Since then, we’ve grown to have record sales and profit. There’s no reason a better way of doing business shouldn’t also be better for the bottom line.