Certifying Shared Value? An Assessment of the Links between Shared Value Creation & The B Corp Certification.

Abstract

This research study aimed to assess the links between the B Corp certification and the creation of shared value. The mission of the B Corp certification is to redefine success in business, to include a more triple bottom line approach. This aligns with the creation of shared value, wherein a businesses economic strategy is to create social or environmental value. The study was conducted as an embedded case study, with the B Corp certification serving as the primary unit of analysis and B Corp certified businesses as the secondary unit(s) of analysis. For this secondary unit of analysis, 16 individual case studies were performed. Each case study gave insight towards how the B Corp certification aided the creation of shared value in the businesses it certifies. In the primary unit of analysis, the B Corp certification itself was analysed. This gave context to how the certification functions as well as its origins. This context aided the secondary unit of analysis and provided interesting findings towards the certifications links with shared value creation. The findings of the study were that the certification does in fact have several links to the outlined concept. It was found that the theory of change employed by B Lab (the organisation that which operates the certification) and concept of shared value creation both draw heavily from stakeholder theory. The certification was also found to possess elements that are directly serve the purpose of identifying and evaluating shared value creation in the businesses it certifies. The certification was also found to aid shared value creation in some businesses through an implementation cycle similar to a PDCA model. The B Corp certification was also found to facilitate organisational learning in several different ways, which may also aid the creation of shared value in the certified businesses.