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B Corps social responsibility

Based on your research, does it seem to matter as much about social responsibility or price or does it seem to be industry dependent? That is, BP did not go out of business, tobacco companies still make money and gun manufacturers are still producing. What do you think?

There are some ethical theories that have been across by scholars of economics to support the B-corp. concept. One of the leading corporations to redefine success in business and entrepreneurship actives are the B-corps. These corporations refer to the certified business corporations that meet the set standards of not only the social but the environmental performance transparency and accountability that is set by the nonprofit B Lab. In the business, there is thousands of B corps that is certified which comes from more than thirty nations and about sixty industries (Honeyman, 2014).
One of the ethical theories that have shown great support to the B-corps is no other but the utilitarianism theory. The principle that the utilitarianism theory puts across is that it will focus on the right and the wrong. The judgment that t utilitarianism theory will make is usually dependent on the results or the outcomes of the policy that will be chosen to be acted on. This theory that supports B-corps was first put across by a famous scholar and academician, Stuart Mill; J. traditional corporations have failed in a big way to use social responsibility as an effective competition strategy (Honeyman, 2014).Social responsibility is a current emerging trend, but the traditional corporations are still reluctant to ideas that are past by time thus making the likely hood of using Social responsibility strategy to null (Tang, Gallagher & Bie, 2015).
There are some companies that have been using the social responsibility strategy in their daily activities operations. For example, Starbucks Coffee has been using this strategy since its founding in the year 1971. The strategy has been a success for the company. When it comes to environmental conservation, the company has focused on the production of green coffee into the market. The firm has been supportive to Ethos water for supplying clean water to people without. According to a research done by Honeyman, 2014, Starbucks Coffee has helped reach a million people out there in the society by giving them clean water which they can use for domestic consumption. Water as everyone knows it is a basic need that is needed by everyone for survival and that is the reason why Starbucks coffee has applied the initiative of water as part of its corporate social responsibility initiative.

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