BBC: Branson launches group to tackle short-termism in business


13 June 2013,  Richard Anderson, Business reporter, BBC News

Entrepreneur Sir Richard Branson and Kering director Jochen Zeitz have launched a non-profit group to encourage global businesses to look beyond short-term profit.

The B Team will champion “a new way of doing business that prioritises people and planet alongside profit”.
Sir Richard told the BBC it was time for business to be a “force for good”.

The team consists of 14 global business leaders, including Arianna Huffington, Ratan Tata and Prof Mohammad Yunus.

“Business has previously been concerned with the bottom line and has not got involved in society or with the wider issues of the world,” Sir Richard, founder of the Virgin Group, said.

“All businesses should become a force for good, and not just focus on short-term profit.

“The B Team is a powerful group of people and we will work together with politicians, the social sector and other organisations. We bring a wealth of entrepreneurial skills and are able analyse problems differently.”

Sir Richard said the group would be looking at specific issues, such as quarterly reporting and subsidies for fossil fuels, and big global problems like unemployment and inequality.

Read the full article at  BBC News.

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