Ready to Re-Launch: Fixing the Pitch for the Social Enterprise
Sandoval, Shelley A. D.
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Corporate misfeasance places headlines of economic fraud and shareholder suits above the fold in today’s changing marketplace. Corporate response directly appealing to the socially charged agenda of the incoming Millennial generation continues to fall short of marketplace expectations among buyers focused on genuine action and real-time transparency. Individual states have passed legislation to support development of social value on the corporate agenda using tax credits; most have been met with variable results. The international playing field enjoys aggressively growing support in recognition of social value creation and capture. The United States drags its heels bound by the stiff structures of corporate law, taxation, and questions left unexamined due to a muddled landscape of various social issues, terms and agendas. This Comment uses Illinois’ Benefit Corporation Act and its efficacy to date as a “stuck in the middle” scapegoat against the backdrop of America’s evolving marketplace. Factors mitigating an evolving ecosystem reallocate the weight given to traditional supply and demand factors. Rising in power among management teams and representing growing market value, millennial buyers choose to place emphasis on new factors placing social and monetary objectives on opposite sides of the scales that balance America’s corporate industry. Culminating in a comprehensive sweep of novel and timeless issues facing social value enterprises, such as enforcement and measurement, this Comment enlivens discussion of collaboration, conscience, and evolution of law as diversity in thinking, individual value and social factors are in vogue among legislating states, enforcing courts and agency authorities.