Bigelow Tea is asserting the not too long ago attained distinction of turning into a Benefit Corporation. The household firm is the No. 1 Specialty Tea market chief, manufacturing “Constant Comment”® and greater than 150 tea varieties bought nationwide. Now formally registered as a Benefit Corporation, it’s considered one of a choose group of firms that has designated company social accountability as a core enterprise purpose within the pursuit of a optimistic social and environmental influence.
This sort of enterprise construction legally formalizes company social accountability in for-profit organizations. Being a Benefit Corporation codifies an organization’s dedication to all stakeholders, together with workers, clients, distributors and distributors. The legally outlined purpose of a Benefit Corporation is to make use of the enterprise for a basic public profit and to have a optimistic influence on the atmosphere and society.
The mission and imaginative and prescient of family-owned Bigelow Tea, that in the present day employs greater than 400 folks, made it an excellent candidate for incorporation as a Benefit Corporation, now licensed in 33 states and the District of Columbia.
“Our purpose has always been about much more than making profits and making tea, so the more I learned about Benefit Corporations, the more I knew this was something I truly felt captured the spirit of our company — a company that is inspired by more than just making a profit,” Cindi Bigelow, third era president and CEO stated. “Clearly, we need to maintain strong profitability, but we should never lose sight of the fact that we also need to focus on doing good things with the power we hold inside this company.”
Bigelow Tea has lengthy prided itself on its environmental, sustainability and neighborhood packages, together with charitable initiatives centered across the Bigelow Tea Community Challenge, an annual street race that has contributed $1.5 million to native nonprofits over the previous 30 years.
“Ever since my grandmother Ruth Campbell Bigelow began our family company 75 years ago, social responsibility has been part of our DNA,” Bigelow stated. “We have always believed that ethical leadership isn’t about just what we do every day. It’s about taking Corporate Social Responsibility seriously. We’re committed to good citizenship, ethical business practices, protecting the environment, sustainability, and supporting our communities.”
To qualify as a Benefit Corporation, Bigelow Tea management accomplished an intensive evaluation report that required a whole lot of hours of analysis and documentation, exhibiting how the corporate met the established aims in 5 particular areas: governance, workers, atmosphere, neighborhood and clients.
“What was so exciting to uncover was that, by doing the very things that had been written into our mission statement over 30 years ago, we were already meeting the requirements,” Bigelow stated. “In fact, our score exceeded the benchmarks.”
The Board of Directors amended Bigelow Tea’s Articles of Incorporation to incorporate an announcement reflecting the unanimous need to develop into a Benefit Corporation and be sure that along with profit-making, Bigelow Tea management will pursue targets that profit the neighborhood in tangible methods.
“To me, ethical leadership has always been about more than what we do every day, it also means thinking about the long term and ensuring we are doing the right thing for our future,” Bigelow stated. “It means constantly working on creating an environment where we all feel motivated to be the best we can possibly be. Becoming a Benefit Corporation redoubles our long-standing efforts and helps everyone understand that we need to take corporate responsibility extremely seriously.”