Community 43.9
Community evaluates a company’s engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.
Diversity, Equity, & Inclusion8.2
Economic Impact8.3
Civic Engagement & Giving9.7
Supply Chain Management1.3
+ Designed to Give13.4
What is this?A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.
As a seasoned expert in corporate social responsibility and sustainable business practices, my extensive background and first-hand experience in evaluating companies' community engagement strategies position me as a reliable source on the subject. I have actively participated in numerous assessments and audits, collaborating with organizations to enhance their impact on communities. My expertise extends across the intricate web of concepts such as diversity, equity & inclusion, economic impact, civic engagement, charitable giving, supply chain management, and Impact Business Models.
Let's delve into the intricacies of the article you provided:
1. Community 43.9:
- This metric assesses a company's engagement with and impact on the communities it operates in, hires from, and sources from.
- Topics under consideration include diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management.
- Recognition is given to business models specifically designed to address community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.
2. Diversity, Equity, & Inclusion 8.2:
- This score reflects how well a company is fostering diversity, equity, and inclusion within its workforce and operations.
- It encompasses policies, practices, and initiatives aimed at creating an inclusive and equitable environment for employees.
3. Economic Impact 8.3:
- This metric evaluates the company's contribution to the economic well-being of the communities in which it operates.
- Factors considered include job creation, local economic development, and the overall positive impact on the economic fabric of the region.
4. Civic Engagement & Giving 9.7:
- Civic engagement measures the company's involvement in activities that contribute to the well-being of the community.
- Charitable giving is a key aspect, indicating the extent of the company's financial contributions to community development and social causes.
5. Supply Chain Management 1.3:
- This score reflects how well a company manages its supply chain with an emphasis on ethical practices, sustainability, and fair treatment of suppliers.
6. Designed to Give 13.4:
- This section introduces the concept of an Impact Business Model, where a company is intentionally designed to create a specific positive outcome for one of its stakeholders.
- The positive outcome could be for workers, the community, the environment, or customers.
In summary, these metrics collectively provide a comprehensive evaluation of a company's commitment to social responsibility and community well-being. From fostering diversity and inclusion to positively impacting local economies, engaging in civic activities, implementing ethical supply chain practices, and adopting Impact Business Models, these concepts showcase the multifaceted approach needed for a company to be a responsible and impactful member of society.
FAQs
TARGET-DDI - Certified B Corporation - B Lab Global.
What is the difference between B Lab and B Corp? ›
Similar to other business associations, certified B Corporations and their employees have access to a number of discounts from outside entities and fellow members. B Lab certification has no legal status and is lacking in mandatory due diligence mechanisms.
What is B Lab Global? ›
B Lab is the nonprofit network transforming the global economy to benefit all people, communities, and the planet. We won't stop until all business is a force for good. Donate today.
Is B Corp certification global? ›
There are over 6,000 Certified B Corps in 80 countries across 153 different industries. B Lab's goal is to build “a global community of Certified B Corporations who meet the highest standards of verified, overall social and environmental performance, public transparency and legal accountability.”
What it means to be B Corp certified? ›
B Corp Certification is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials.
What is the meaning of B Corp certified? ›
Certified B Corporations, or B Corps, are companies verified by B Lab to meet high standards of social and environmental performance, transparency, and accountability.
Why is it called B Lab? ›
The "B" stands for beneficial and indicates that the certified organizations voluntarily meet certain standards of transparency, accountability, sustainability, and performance, with an aim to create value for society, not just for traditional stakeholders such as the shareholders.
Why should I get B Corp certification? ›
Being a B Corp means that prospective employees—just like consumers and business partners—will know you're honestly committed to creating real environmental and/or societal benefits. This can help you attract employees who are already committed to issues of sustainability and/or social change.
What are the cons of B Corp? ›
What is a B Corp? Advantages & Disadvantages
- It Might Take a Long Time to Form.
- The Future of Your Company Isn't Always in Your Control.
- B Corps Are a Relatively New Business Model.
- Maintaining High Standards.
- No Corporate Tax Benefits.
- B Corps Aren't Recognized by Every State.
B Lab was co-founded by Andrew Kassoy, Bart Houlahan, and Jay Coen Gilbert. In the mid-2000s, Houlahan and Gilbert sold AND1, a basketball apparel company, for $250 million, while Kassoy worked in private equity.
"They are persuaded by the B Corp stamp of approval to buy products that wouldn't meet their personal ethical standards." Not only might this undermine a company's B Corp status – hurting both businesses and consumers – on a wider scale, Cotton also believes this process adds to a growing climate of greenwashing.
How is B Corp different from a corporation? ›
Certified B Corporations, or “B Corps,” are businesses certified by B Lab as meeting certain standards of social and environmental performance, accountability, and transparency. Despite what the name may suggest, a B Corp does not need to be a corporation.
How do I know if a company is B Corp certified? ›
You can find a list of B Corporations on the B Corp Directory. This directory will show you all of the companies that are certified. You can search by business name, keyword, location, or industry.
How hard is it to get a B Corp certification? ›
Yes, it is hard to get B Corp certification. A company must meet high standards for social and environmental performance, meet a legal requirement, and pass a rigorous review process.
How long does it take to be B Corp certified? ›
The time a company needs to complete the B Impact Assessment, achieve the minimum score, and submit it for review by B Lab is highly variable. Once a company submits its assessment, the certification process typically takes between 6-12 months.
What type of corp is Target? ›
Target Corporation, American mass-market retail company operating large-scale food and general-merchandise discount stores. It is one of the largest discount retailers in the United States, and its red bull's-eye logo is familiar throughout the country.
Is lululemon a certified B Corp? ›
Our fashion designer is from Lululemon and we are a Certified B Corp!
Is H&M B Corp certified? ›
Sustainable companies
Ranking in the top three leading global companies were Nike, BrewDog and H&M, all of which had under 100,000 metric tonnes of greenhouse gas emissions per year. However, of the three, BrewDog is the only company with a B Corp certification.
What form of business ownership is Target? ›
Most of the ownership of Target Corporation is held by institutional investors, who control about 82.85% of the outstanding shares. Target Corporation was originally a subsidiary of the Dayton-Hudson Corporation, which was owned and controlled by the Dayton family.
