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How is the B Corp Movement influencing the future of Capitalism? An analysis of the motivations and the factors impacting the B Corp certification and decertification

David, Philippine
(2020)

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DAVIDPHILIPPINE_74221800_2020.pdf
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DAVIDPHILIPPINE_74221800_2020_APPENDIX1.pdf
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Details

Supervisors
Desmet, Carlos
Faculty
Louvain School of Management
Degree label
Master [120] en ingénieur de gestion
Abstract
This Master’s Thesis investigates the following question: “How is the B Corp Movement influencing the future of Capitalism?”. The purpose is to explore the motivations of companies to certify and decertify B Corp and the factors influencing their certifications. In addition to this, we evaluate the impact that Covid-19 might have on the B Corps and their Movement. First, we analyze the evolution of the capitalistic model and its journey towards prosociality by dissecting several approaches such as CSR, the Stakeholder Theory and the Fourth Sector. We, then, explore the heart of our topic, the B Corp certification, outlining its origins, its characteristics, its advantages, its challenges and its influencing factors. Secondly, we perform a qualitative field research using 14 semi-structured interviews to help fill in the gaps of the academic literature. We find that there are 5 drivers motivating companies to get the B Corp certification. Its use as a comprehensive framework represents the most influential one. In addition to this, our analysis shows that there are 6 micro-factors influencing the obtainment of the B Corp certification. The most recurrent one being the identity of a company. As last, we posit that B Corps lapse from the Movement for 7 different reasons, where the increasing stringency of the standards appears to be the major one. Our conclusion is that the B Corp certification is a promising tool to reshape the capitalistic system. In order to drive this systemic shift, the B Lab needs to refine the scope of its certification by defining whether it is meant to be general or marginal. Only time will tell if the B Corp Movement will become the capitalistic reformer it is expected to be and if it will survive the coming crisis.