The first B-Corp (or B Corporation) was certified in the USA in 2007 (Stubbs, 2017). The B-Corp model has emerged, in part, in response to recent global financial crises and low levels of trust in corporations (Hiller, 2013), as well as from the willingness of social entrepreneurs to be less dependent on donations and subsidies (Battilana et al., 2012).
At a time when questions about reforming the economic system remain critical, social enterprises invite optimism as well as caution. They seem to offer a promising way of creating both economic and social value.
B-Corps have grown rapidly since the process of certifying them began in 2007. Despite this rapid growth, there is insufficient understanding of B-Corps (Stubbs, 2017).
In this paper, a systematic literature review is conducted. An examination of specific properties of B-Corps associated to its semantics and relations with other concepts is ran over a selected sample of articles.
In this review, B-Corps are analyzed as a theoretical concept. This paper intends to contribute to a comprehensive literature review on this concept, locating the B-Corps in the literature and defining its borders.
Although some authors have stated that there has been an increasing academic interest in organizations such as B-Corps (Stubbs, 2017), little has been written in the academic literature about this rapidly growing new business.
As there has been detected a considerable debate about the concept in the abstract analysis step, Goertz and Mohoney (2012) qualitative approach was adopted to assess B-Corps as a theoretical concept, focusing on its semantics and meanings, by the examination of its ontological and epistemological properties.
Goertz and Mohoney (2012) qualitative approach was adopted to assess B-Corps as a theoretical concept, focusing on its semantics and meanings, by the examination of its ontological and epistemological properties.
The review of the literature was carried out in the following manner. First, relevant literature was identified at the Web of Science platform using key words closely related to B Corporations.
Then, related concepts that were claimed to be similar or related to B-Corps were identified, and similarities and differences between B-Corps and these concepts were analyzed.
An examination of specific properties of B-Corps associated to its semantics and relations with other concepts is conducted. It involves the exploration of the following areas: (1) what B-Corps are, (2) which other concepts and theories are B-Corps related to, (3) how these other concepts are defined, (4) how B-Corps relate to other concepts and theories, and (5) how B-Corps are similar to and different from the related concepts and theories.
Findings indicate that B-Corps are often puzzled with the benefit corporations and are related to many other concepts and theories.
Considering all related concepts found in the literature, it is clear that the B-Corps as a theoretical concept is at its early stages. Many concepts overlap partially between each other when connecting to B-Corps concept, and demand a more clear distinction, such as hybrid organizations, social enterprises, blended value and fourth sector organization. Also, frequently puzzled with benefit corporations in special, its meaning often gets distorted.
Battilana, J., & Dorado, S. (2010). Building sustainable hybrid organizations: the case of commercial microfinance organizations. Academy of Management Journal, 53(6), 1419–1440.
Goertz, G., & Mohoney, J. (2012). Concepts and measurement: ontology and epistemology. Social Science Information Sur Les Sciences Sociales, 51(2), 205-216.
Hiller, J. S. (2013). The benefit corporation and corporate social responsibility. Journal of Business Ethics, 118(2), 287–301.
Stubbs, W. (2017). Sustainable entrepreneurship and B corps. Business Strategy and the Environment, 26(3), 331-244.