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ERIC Number: EJ1132754
Record Type: Journal
Publication Date: 2016-Jun
Pages: 5
Abstractor: ERIC
Reference Count: 12
ISBN: N/A
ISSN: EISSN-2157-6254
Introducing B Corporations to the Higher Education Community
Houlahan, Bart; Osusky, Dan
Higher Learning Research Communications, v6 n2 Jun 2016
The higher education industry faces many challenges. Despite the recognition that a college degree is essential to developing skilled employees, informed citizens, and flourishing people, there is a shortage of skilled workers, college costs (and student debt) are rising, and the attainment gap for minorities and underrepresented populations remains stark. Simultaneously, technological advancements have created a market for higher education that is no longer local or national, providing both opportunities and challenges for institutions to serve diverse student needs around the world. B Lab, a global non-profit, was started nine years ago because business needs a new operating system, a set of normative and institutional changes that allow capitalism to equal its promise. Across all industries, there is a need for concrete, scalable, systemic solutions that restore trust in business and enable the invisible heart of the capital markets. That requires a market ecosystem that includes a supportive corporate and fiduciary legal infrastructure, access to aligned capital markets, enabling public policy, and the ability for consumers, employees, and investors to differentiate good companies from just good marketing. The B Corp Movement is putting theory into action by setting an objective business standard for social and environmental performance, accountability and transparency. It equips businesses and investors with a platform for benchmarking, measuring and reporting on impact; it is providing a sustainable operating system for business by allowing companies to expand their fiduciary duties to include the consideration of their stakeholders; and it is enabling millions of consumers, workers, entrepreneurs, and investors to join the movement all over the world. B Lab has worked to tailor the B Impact Assessment to enable for-profit higher education institutions to pursue B Corporation Certification and for all institutions to measure their overall social and environmental impact in the context of students as their primary stakeholder. Through the contributions of a multi-stakeholder expert working group, B Lab conducted an 18-month process to develop a Higher Education Addendum to supplement content in the B Impact Assessment, focusing on company governance, worker practices, community engagement, and environmental stewardship.
Laureate Education, Inc. 650 South Exeter Street #12, Baltimore, MD 21202. Tel: 410-843-6100; e-mail: hlrceditor@laureate.net; Web site: http://www.hlrcjournal@laureate.net
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A