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Comparison between B Corp and Future-Fit Business on company performance

Van Hemelryck, Morgane
(2023)

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Details

Supervisors
Desmet, Carlos
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion, à finalité spécialisée
Abstract
Companies are increasingly involved in integrating positive values for the environment and society into their business. To this end, tools are available to help them improve their social, environmental and governance performance. This thesis focuses on comparing the performance of companies using B Corp’s tool, the B Impact Assessment and the benchmark of Future-Fit Business. The two approaches, B Corp and Future-Fit Business, are described and analyzed in order to understand the rationale behind their comparison. The study examines the social, environmental, governance and financial performance of two companies: Tourism Holding Limited, which adopts the Future-Fit Benchmark, and Ion Beam Applications, which uses the B Impact Assessment. The aim is to assess which of these approaches contributes most effectively to improving overall corporate performance. Data published by these companies, as well as interviews with them and other companies using these tools, are used for the analysis. A general assessment of the differences in practices between Future-Fit Business and B Corp is also carried out. In conclusion, B Corp certification appeals to companies, enticing them to embrace this approach by emphasizing its positive aspects such as community engagement and comparison with peers, thereby motivating them to excel. Additionally, Future-Fit Business sets very ambitious targets and equips companies with performance improvement tools that provide them with the means to achieve greater success. The provision of an action guide and support facilitates the company's journey toward becoming impact-neutral. It was analyzed that the two companies using the tools improved their social, environmental and governance performance. Hence, the recommendation is to utilize both tools for optimal performance improvement since both offer complementary advantages to improve business performance.

Citations

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Van Hemelryck, M. (2023). Comparison between B Corp and Future-Fit Business on company performance. https://dial-mem.test.bib.ucl.ac.be/handle/2078.2/36548