Question

1. What is a 'B Corporation' and how does this differ from conventional business? Find an example of a B Corporation operating in your proposed industry and identify how it is different from a conventional business.

Answer 1

B corporation means a benefit corporation, which are certified by the government. They are given special benefits under tax and other legal compliances. The b corporations are different from other conventional businesses in the following aspect.

1. Transparency of accounts,
2. Social and environmental friendly performance,
3. Public transparency.

Dont think b corporation as a non profit organisation, it is a complete profit organisation but are certified and restricted. They are operated by certified people.

Beneficial state bank is one of the b corporation, which is different from other banks in the aspects as discussed above.