Many businesses are thriving in spite of the major challenges presented by the COVID-19 pandemic through increased stakeholder connections that strengthen worker and customer commitments, resulting in greater company performance. One common thread among companies that are weathering the storm most successfully is an authentic and integrated commitment to purpose larger than profitability or growth. Indeed, in the last financial crisis, Certified B Corporations were 63% more likely to survive than other businesses of similar size.
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Tags:
Social Innovation,
StartUp | ScaleUP,
Business Implications,
SBX NOW & NXT,
C-Suite CNNX,
B Corp,
HR CNNX
Businesses are dealing with busts, booms and everything in between amid the COVID-19 pandemic. Unemployment in the U.S. has climbed to nearly 15%, the highest level since the Depression and roughly double the number during the 2008 recession, and thousands of small businesses are scrambling for federal financial assistance.
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Social Innovation,
StartUp | ScaleUP,
Business Implications,
Culture,
SBX NOW & NXT,
C-Suite CNNX,
B Corp
The Social Enterprise Network of Central Ontario (SENCO) has dedicated the entire month of April to creating virtual spaces to connect, share and innovate as a growing sector. Let's use this time to support one another and put our #changemaking skills into action!
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Social Innovation,
Social Enterprise
The age of social awareness is upon us. As more businesses choose to include social objectives in business models, the hope for a sustainable economy becomes increasingly achievable. Developing a social enterprise takes some serious planning. There’s a lot of moving parts and pieces. How do you generate revenue while spending money on the good of your community, the environment, and your employees?
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Tags:
Social Innovation,
StartUp | ScaleUP,
Social Enterprise
Innovation is a driving force in modern business. While we haven’t reached the space-age era of the Jetsons quite yet, technology is constantly evolving. With each new update or improvement, businesses rush to catch up. We strive to meet consumer expectations and stand out above competitors. By fostering creativity within our own businesses, we stand a greater chance of achieving these goals.
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Tags:
Social Innovation,
Innovative Mindsets
Impact Assessment is a standard test used to evaluate profit companies as socially responsible, sustainable, and environmentally respectful. The test asks a multitude of questions regarding a business’s standards of social and environmental performance and is conducted by a non-profit organization. Answers to the assessment increase or decrease your chance of successfully obtaining a B Corp Certificate.
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Social Innovation,
B Corp
When a company considers becoming B Corp Certified, they must first undergo something called an Impact Assessment. This survey evaluates the physical, sociological, and financial impact your company has on the world around it. To successfully achieve the status of a B Corp, companies must score 80 points or more out of the 200 points available.
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Tags:
Social Innovation,
Finance CNNX,
B Corp
The first time the business community heard the term “triple bottom line” was the mid 1990’s when John Elkington, a business writer from London England began touting the importance of sustainable development. Elkington believed deeply in corporate responsibility and the idea that modern businesses should be accountable for what they put into the world, not just the money they earned from it.
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Social Innovation,
Social Enterprise
There was a time when the concepts of social responsibility and sustainable revenue lived in two separate worlds. For-profit businesses rarely considered the environment, their social impact on the world, or the importance of creating jobs for a purpose other than to generate revenue. Now, the concept of the triple bottom line, the introduction of B Corp Businesses, and the influence of the millennial business model have made these concepts interchangeable.
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Social Innovation,
Social Enterprise
