A group of business leaders have joined forces to form the ‘B Team’, a global non-profit founded by Sir Richard Branson and Jochen Zeitz. They will work together to deliver a new way of doing business that prioritises people and planet alongside profit – a ‘Plan B’ for businesses the world over.
The initial ‘B Leaders’ have been selected by a global network of advisors. They have come together as a group of committed business leaders to use their collective voice to help engage other leaders and will act as a catalyst to help deliver ‘Plan B’. They will work with partners to break down entrenched barriers and ensure there is a clear way forward.
The B Team will address three initial Challenges: ‘The Future of Leadership’, ‘The Future Bottom Line’ and ‘The Future of Incentives’ to help focus business away from short-term gain and to balance the long-term benefits for our people and our planet.
The B Team Leaders have issued a joint Declaration, acknowledging key global problems such as growing inequality, unemployment and the unsustainable use of natural resources. The group commits to accelerating a movement of leaders around the world driven by a better way of doing business.
“We want to start a global conversation on a ‘Plan B’ for business,” said co-founder Sir Richard Branson. “We are working with government agencies, the social sector, and business leaders to help get on top of some of the world’s seemingly intractable challenges. We are keen to listen, learn and share with others to build businesses that do what’s right for people and the planet.”
“Business is integral to society, but it has also created most of the negative environmental challenges of this century,” co-founder Jochen Zeitz said. “The B Team will help to catalyse a shift away from the existing short-term, unsustainable mindset, towards the long-term interest of people, the planet and the wider economy. Tackling these three challenges is a starting point for a ‘Plan B’ to form.”
‘The Future of Leadership’ Challenge will seek to accelerate a new kind of inclusive leadership underpinned by a moral compass of being fair, honest, positive and creative. This is founded on co-operation and will be aimed at generating long-term value for society, the economy and the environment.
“We need a ‘Plan B’ for the way business is managed, starting with leadership more committed to well-being, wisdom and sustainable business success,” says group member Arianna Huffington. “The only way to enjoy a long-term healthy bottom line is with a workplace that supports the well-being of employees. We want to accelerate that shift by putting the spotlight on business leaders at the forefront of this movement and connecting them with each other.”
The ‘Future Bottom Line’ Challenge seeks to accelerate a move away from single-minded financial “short-termism”, towards a focus on the long term, and will aim to expand corporate accountability beyond financial gains to include negative and positive contributions to the economy, environment and society.
In driving forward the ‘Future of Incentives’ Challenge, The B Team will work with partners to develop new corporate and employee incentive structures and to identify and map both positive and harmful subsidies. This will help to shift market and business behaviour towards incentives that maximize social, environmental and economic benefit.
The B Team is also encouraging the general public to submit their views on a new charter for better business at: www.bteam.org
