Ever heard of B Lab or B Corps? These are groups of companies that choose to legally bind themselves to meeting social and environmental objectives in addition to making a profit. They arose in response to the concern of the Western middle class that capitalism, as it currently operates, isn’t delivering for a broad swath of society. There is also emerging research that shows companies pursuing profits in a sustainable manner will perform better over time as compared to the slash and burn companies we see on the nightly news or in business publications.
One of the factors that drew me back to West Michigan was the balance of entrepreneurship, innovation, superior business performance, employee partnership efforts, and commitment to the community that reflect many of our most successful companies. We have shown that a broader and longer term focus on our businesses is good for business, ourselves as owners, our employees, and our communities. Perhaps we are showing leadership yet again as the broader business community looks to the future in a changing world.
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