This is a good question, Alexa. I think the Business Roundtable definition is currently more aspirational than something being put into practice by most businesses. That said, the B-corp movement and the benefit corporation are both interesting developments in the for-profit sector.
B Corps are any for-profit entities that are certified by the nonprofit B Lab as voluntarily meeting higher standards of transparency, accountability, and performance. Benefit corporations exist in the US (in about half the states), and they have is legally protected requirements of higher purpose, accountability, and transparency.
I haven’t read any studies about how governance of these businesses may work differently than governance in businesses focused solely on profit, but there may be some out there. I’ll see if I can find any in the next couple of weeks to share with you. Don’t hesitate to send me a reminder!
Does anyone else in this class know more about these issues and organizations?