To "B" or Not to "B-Corp"
Published by Derek Lundsten on 3/25/2016
I've been writing this blog for the last couple months, and it is a very enjoyable part of my week to write. It allows me to take a bit of time away from the daily hustle to think creatively, and infuse my idealistic nature into the broader business community.
I was speaking recently with an advisor of mine about social selling and how forward thinking businesses can stand apart from a market. This is in the DNA of Scrimmage. One of the big ideas Scrimmage has been considering to accomplish this lofty goal is a conversion of our corporate structure to a "B" or Benefit Corporation. Coincidentally enough, Tomasz Tunguz re-shared an article (http://tomtunguz.com/the-b-corporation/) he published 18 months ago on this topic this past week, so this article is very timely, as is this fledging corporate entity. What is a B-Corp? The charter of a B-Corp dictates the board of directors must consider the best interests of the corporation and the effects of its decisions on the company’s workforce, its customers, community and societal factors, and the environment.
We prioritize these things at Scrimmage, and I can say one of the things I'm most proud of in the last few months is the creation of the "Scrimmage Gives Back" program (more updates to come), initiated organically by our team to do good in the world, while doing good business. I love that this culture exists in our company and this new corporate structure is a way to embody it as a core principle. A lot of work and discussion needs to take place to become a B-Corp, but I thought this post would be a good starting point to announce our aspirations, solicit feedback from the market, and to keep you informed of the process.