B-Corp Business Essay Example | Topics and Well Written Essays - 1000 words

B-Corp Business - sample ExampleIn order to become a B-Corp, there exists the whole certification process named B-Corp credential. This certification implies the process of validating the companys social and environmental performance which is measured by the special impact assessment framework (Bcorporation.net, n.d.). The process of certification has three stages meet performance necessity meet legal requirement and make it official (Bcorporation.net, n.d.). The companys performance is assessed based on the overall impact which it has on the stakeholders. This assessment is lasting for 1-3 hours, depending on the companys size, location, and sector in which it operates. Then, one of the B Lab staff members appoints an Assessment Review session in order to sort out questions and enable the company to refine the answers (Bcorporation.net, n.d.). In case the companys score is between 80-200 points, the B Corp team members provide the applicant with information on how to submit sup porting documentation. When Assessment retread stage is completed, the company has to complete Disclosure Questionnaire, where it informs about any sensitive practices, sanctions and fines related to this company or its partners (Bcorporation.net, n.d.). While the majority of such disclosures are not essential, there are cases when there are physical disclosures which require more than attention. In this case, the companys management will need to provide more information on this issue. Decision about acceptance and membership/participation of the company in the B Corp community is made by the B Labs Board of Directors and Standards Advisory Council (Bcorporation.net, n.d.). The B Corp Certification process should be completed every two years.As it has been already mentioned the B Corp community is comprised of more than 1000 businesses. These companies operate in 60 different