Everlane Company Analysis

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Business

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Nov 24, 2024

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1 Everlane Company Analysis Student Name University Professor Date

2 What is a B corporation, what are the criteria and certification processes used for a company to be certified? As affirmed by Cao & Gehman, (2021) a B Corporation," or Benefit Corporation is an example of a non-profit business that adheres to strict social and environmental performance standards. “A business must go through a thorough evaluation procedure to become a recognized B Corporation. The assessment measures how the business affects its community, environment, workers, and clients. The evaluation addresses five key topics, Governments, Employees, Community, Setting and its customers Research Elane as company their history, mission and values and organisation and describe the current product categories and who their target customer for everlane is The core principles of Everlane are transparency, ethics, and sustainability. The Company is structured around a number of product categories, including clothing for men and women, footwear, accessories, and home items. Millennial and Gen Z customers are typically Everlane's target market because they respect openness in the businesses they support and are interested in ethical and ecological fashion . Describe and explain 3 advantage and 3 disadvantages for everlane to pursue certification to become a B corporation Advantages of Everlane pursuing B Corporation certification:  Enhanced credibility: The Company’s commitment to sustainability and social responsibility will be demonstrated by its B Corporation designation, which is a well- recognized aspects.  Access to a network of companies committed to utilizing their businesses as a force for good  Increased accountability and transparency: To earn the B Corporation accreditation, the company must have gone through a thorough evaluation in regards to their governance practices, social and environmental impact, and responsibility. Disadvantages of Everlane pursuing B Corporation certification:  Obtaining B Corporation accreditation can be a labor- and resource-intensive procedure that necessitates a considerable outlay of time and money.  The certification procedure might be difficult, and it might call for alterations to the business's operations and supply chain.  Potential for criticism: While a firm's reputation may be enhanced by certification as a B Corporation, if the company doesn't live up to the high standards required of B Corps, this certification may bring about criticism as well. What is your recommendation about whether everlane should pursue certification to become a B corporation provide some justification for this recommendation Everlane ought to think about the long-term advantages of B Corporation accreditation, reasons being according to Kim, Karlesky, Myers & Schifeling, (2016) it advantages are

3 enormous and this will enhance its reputation, provide entry to a network of organizations with similar goals, and better responsibility and transparency.

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4 References Cao, K., & Gehman, J. (2021). Certified B corporations and benefit corporations Kim, S., Karlesky, M. J., Myers, C. G., & Schifeling, T. (2016). Why companies are becoming B corporations. Harvard Business Review, 17, 1-5. .

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