These days there a a great many companies that are formed for the purpose of doing well by doing good.
There’s a whole category of companies that not only try to do good, they’re required to by charter. They’re called B Corps (or For Benefit Corporations). In order to qualify as a B Corp a company must have a specific social or environmental mission, and a legally binding fiduciary responsibility to work for the interests of employees, the community and the environment as well as shareholders.
Sometimes companies are for-profit but have a non-profit distribution model or are simply identified by their clearly defined social mission.
The folks who start these companies are social innovators par excellence, but we prefer to just call them “do gooders.” Folks like Mohammad Yunus of Grameen Bank, Blake Mycoskie of TOMS Shoes, or Wendy Kopp of Teach for America are perfect examples.
The Salvation Army’s very own founder William Booth was an early social entrepreneur who bought a derelict factory and went into business in order to fix a social ill.
Click on the arrow to find out more about this great piece of Salvation Army history…