Beyond the B: Latest on the B Corp Movement Beyond B Corps + 10 Principles of Next Economy Enterprises (Part 1, w/Kevin Bayuk)
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Dec 24, 2024 
In this engaging discussion, Kevin Bayuk, co-founder of Lyft Economy and an impact investment strategist, explores how enterprises can transcend B Corp certification. He highlights the first five principles of Next Economy enterprises, emphasizing the need for organizations to focus on meeting human needs, foster inclusive ownership, and cultivate equitable cultures. Kevin argues for the importance of supporting local economies and embedding education into goods and services, providing a dynamic roadmap for creating a regenerative and just future.
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B Corps Are Necessary But Not Enough
- Kevin Bayuk sees B Corps as a necessary step but “wholly inadequate” for the systemic transformation needed.
- He calls the movement harm-reducing rather than fully regenerative and urges deeper structural change.
Purpose Should Be Meeting Needs
- Bayuk reframes enterprise purpose: businesses exist to meet human needs, not to manufacture demand.
- He argues modern firms often prioritize profit over authentic needs, creating harmful externalities.
Redistribute Ownership To Stakeholders
- Design ownership so economic benefits flow inclusively to workers and community.
- Consider worker-owned or multi-stakeholder cooperatives to distribute surplus widely.
