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What is a B Corporation? Explained by Bryan Welch



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be the change media is a business media

company focused on the role of business

as a force for good in the world

so we try to tell compelling and

delightful stories about companies that

are making a positive difference in the

world through the act of doing business

when people ask me what a B corporation

is I tell them it's a company that is

subjected itself to an independent

assessment of its impact in the world on

communities on people and on the

environment and that independent

assessment is rigorous it's over 400

questions it takes hours to complete and

in many cases it takes us years to get

our companies across the finish line we

have to actively change the way we do

things I think it's the first and the

only really rigorous assessment of a

company citizenship and the companies

that that score at a high enough level

and that's a minority of companies but

the companies that scored at a high

enough level become B corporations there

are about 1,300 B corporations in the

world but there are over 10,000

companies that are at some stage in the

assessment and have completed a little

East 75% of them so it's relatively

challenging to become a B corporation

and there are a lot of companies working

at achieving that goal when you think

about the nature of change in society

and you think in if you feel at all

skeptical that the business community

might be undergoing this revolutionary

change I would just remind you of the

history of human flight you know we

tried to fly and failed miserably for

3,000 years there is a historical record

we attempted to fly and failed over and

over again often a great human cost for

3,000 years

and then in the first decade of the 20th

century the Wright brothers managed to

get their glider to lift off for a very

short distance over the dunes at Kitty

Hawk North Carolina within six years of

that glider flight you could buy a

ticket on an airliner and 66 years after

the glider flight we went to the moon so

three thousand years of failure nothing

changing man did not fly and then from

Kitty Hawk to the moon in less than

seven decades change has a tendency to

exists only in the imagination for a

long period of time and then to be

realized very sudden so I would suggest

that if you doubt that the world of

business is about to change the

meaningful way that you buckle your seat

belt and hang on because I think we're

in for a major shift

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