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November 22 event: The New Economy Will Be Driven by a Millennial Mindset

Could your business do well by doing good?

Decades ago, the concept of The American Dream was to study, work hard get a job, buy a house, pay off your debt and build wealth. Not only would many agree that this was a lie,  a whole generation of our workforce just do not buy into it as their dream. “The Millennial Dream” is a feature length documentary that explores the values that may replace the cultural motif known as The American Dream.

As the Millennial generation becomes the most significant portion of the workforce, what will change about what we want from our education and jobs, what kinds of companies will succeed in the new economy? And with values and lifestyles shifting, what kinds of communities will be desired and what can cities and regions do to attract this new economy? The filmmaker’s interviews with experts such as best selling author Seth Godin and the personal reflections of young workers stir debate and encourage a dialogue around what might emerge as the Millennial Dream.

On November 22 BDC, Canada’s bank for entrepreneurs, will showcase The Millennial Dream documentary in Whistler followed by an empowering discussion on what kinds of companies will succeed in the new economy.

If the Millennial Dream is about doing well by doing good, how do business owners need to adapt?  

Some business owners may be struggling with the belief that Millennial workers are not as loyal as previous generations. But evidence shows they will work harder and be more committed if they believe in the higher purpose of the organization. In fact, according to a Deloitte survey of over 7,700 Millennials from 29 countries, Millennials are more likely to stick with an organization if they share its sense of purpose.

During an interview with filmmaker Greg Hemmings, he mentioned a focus on relevancy as the biggest opportunity for business to seize the Millennial dream. Traditional institutions stuck in their ways are being sideswiped by companies like Uber and airbnb that are crowdsourcing solutions to systemic problems, effectively disrupting entire categories in their industries. Further, these companies lead with their values, openly sharing stories about their impact in the world.

If the Millennial Dream is about doing well by doing good, how do business owners adapt? #BCorp Click To Tweet

At the film screening in Whistler, business owners can learn how they need to adapt and aim to do well by doing good. After the film, examples of how business can be used as a force for good will be shared through a panel discussion with Greg Hemmings from New Brunswick-based ‪Hemmings House, along with Whistler-based Leah Garrad-Cle from ‪Love Child Organics and Diana Mulvey from Seeds Consulting.  The evening will wrap up with a chance to continue the conversation while mixing and mingling with entrepreneurs and representatives from BDC.

The Millennial Dream Documentary Film Screening in Whistler

Tuesday, November 22, 2016
5:00 p.m. Networking, Appitizers, Drinks
5:50 p.m. Introduction
6:00 p.m. The Millennial Dream
6:45 p.m. Panel Discussion moderated by Carla Heim, Senior Advisor Social Entrepreneurship at BDC
7:15 p.m. Networking (cash bar)

       Click here to reserve your seat today!    

View the Trailer

B the Change

A B C’s of becoming a B Corporation

Certifying businesses that take on social and environmental problems

More and more entrepreneurs are going into business and growing their enterprises with a broader focus than building shareholder returns. Instead, these purpose-driven leaders see the potential for a much broader impact, one that includes society and the environment.

Increasingly there are businesses that want to create value for all their stakeholders, not just their shareholders. These companies are competing not just to be best in the world, but best for the world.” B Lab Founder Andrew Kassoy

Certified B Corporations are leading a global movement to redefine success in business. Companies that achieve B Corp certification have agreed to voluntarily meet higher standards of transparency, accountability, and performance. They know that they can stand out in a cluttered marketplace through their higher purpose and a shared vision that businesses can create benefits for all stakeholders; not just shareholders.

What’s driving business owners to invest in the certification process? There is growing acceptance of brands doing well by doing good. Across the globe, 75% of consumers believe it is acceptable for brands to support causes and make money at the same time (up 33% since 2008). A full 80% of consumers feel it is important for companies to share their efforts to address societal issues. Edelman goodpurpose Study

“These companies are competing not just to be best in the world, but best for the world.” B Lab Founder Andrew Kassoy Click To Tweet

How do companies earn B Corp certification

Starting with an online impact assessment, business owners can complete a questionnaire that summarizes their business as it relates to four categories: Workers, Governance, Community and the Environment.

Just the exercise of tackling 174 questions in the four categories above is time well spent by any organization. As a business grows, questions like these below can shape the future of the company:

  • What percent of non-executive, full-time employees participated in the company’s bonus plan in the last fiscal year?
  • What practices apply when evaluating the social and environmental performance of your suppliers?
  • Has your company gone through an environmental review or audit in the last 12 months?
  • Are there key performance indicators or metrics that your company tracks on at least an annual basis to determine if you are meeting or social or environmental objectives?

Some organizations may not be able to achieve the minimum 80 points required to earn the certification, but the impact assessment tool is an ideal way to focus resources toward next steps. Learn more about my journey toward certification.

A growing NETWORK with many benefits

Companies aiming for a passing grade have done the math for the business case and understand the ABCs of joining this fast-growing group of certified companies:

A – Affiliation: A B Corporation will join a community of like-minded businesses that want to change the status quo. Fellow businesses in related or complementary industries have a network of entrepreneurs they can rely on to help manage business challenges.

B – Baseline: Rather than re-inventing the framework, the impact assessment can shape a company’s commitment towards: Workers, Governance, Community and the Environment. There are ample opportunities to learn form other B Corporations on how they raised the bar in each category.

C – Credibility: Since the assessments are conducted by a third party, this helps ensure there’s no greenwashing or trying to look good with slick marketing. It is unbiased and based on a consistent approach that helps owners measure what matters and ultimately, build a better business.

About 150 businesses in Canada are currently certified, along with over 1,600 companies in 48 countries. BC-based Persephone, Salt Spring Coffee, Lunapads and Fairware are in good company with global brands like Patagonia, Ben & Jerry’s and Method. This movement is growing fast and Certified BCorps achieve brand lift from their affiliation, which also helps to attract employees, earn publicity an gain competitive advantages in their sector.

Ready to measure what matters and understand your company’s impact in the world? We work with conscious brands that are ready to “B the change”. Let’s talk about how to build and share your stories.