Are College Benefit Corporations a New Model for Higher Ed?
Interviewed for Education Dive Article
On the for-profit side, perhaps the biggest upside to being public benefit corporation is that it changes the definition of success. Christopher G. Myers is an assistant professor at the Johns Hopkins University Carey Business School. He recently co-authored a piece for the Harvard Business Review about the motivation behind companies that embrace social responsibilities.
“The traditional for profit corporation has been the dominant model for so long. When we think of a successful business what we often mean is a business that generates a lot of profit,” said Myers. “Identifying as a public benefit corporation would be a signal to the market that the organization is not going to take profit maximization as its only success metric.”