From Shareholders to Stakeholders: The B Corp Revolution
In this conversation, James Ghaffari, the Director of Growth and Product at B Lab UK, discusses the B Corp movement and its impact on businesses. He explains that B Corps are companies committed to using business as a force for good, prioritising social and environmental performance alongside profits. James shares his personal journey towards becoming more radical and the importance of engaging with others to drive change. He highlights the need for businesses to consider the impact on all stakeholders, not just shareholders, and describes the shift from a shareholder value-led lens to a stakeholder value-led lens.
James also discusses the growth of B Lab and the increasing number of B Corps worldwide. The conversation explores the B Corp movement and its focus on governance and stakeholder engagement. Tony’s Chocolonely is highlighted as an example of a company innovating with its governance model. The discussion also delves into the evolution of B Corp standards and the challenges in implementing new standards. The importance of aligning personal values with business goals is emphasised, and the concept of the veil of ignorance is introduced as a way to design a more just society. The conversation concludes with advice for those starting a radical idea, encouraging them to bake their values into their business from the start.
We discuss:
- How B Corps are companies committed to using business as a force for good, prioritising social and environmental performance alongside profits.
- Engaging with others and compromising are essential for driving meaningful change.
- Businesses need to consider the impact on all stakeholders, not just shareholders, to create long-term prosperity.
- The B Corp movement is growing rapidly, with an increasing number of businesses worldwide becoming B Corps.
Want to appear? Email podcast@standingongiants.com
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