I decided to look into Patagonia. A popular brand here at Bucknell, I have heard that the company is very environmental and ethical. Patagonia is considered an ethosolution organization. If many of you don’t know what this means like I did, the definition is “Organizations that are conscious and conscientious in their business practices, values, mission, and desire for win relationships with each other, humanity, and our planet are ethosolutions. They are defined by integrity, transparency, and clearly forward-thinking goals with consideration for their actions and interrelationship and interdependence with all things.”
The company has green products and they donate either 1% of their total sales or 10% of their profits, whichever is more, to grassroots environmental groups all over the world. They have won the Sustainability Lifetime Achievement Award, Business Ethics Award and they are a Fair Labor Association accredited company due to their socially responsible, ethical and safe working environments. They’ve launched the common threads initiative (video below), they co-founded 1% For the Planet which is an alliance of businesses that commit to the same 1% donation, they started he World Trout Initiative which protects endangered fish through grants, and finally they started Our Common Waters campaign which is about balancing human water use with the needs to animals and plants.
I mean, seriously, what else do you need to be a stakeholder-focused company? I know they focus more on the environment, but their employees are also treated well and their business plan is not solely concerned on making the most profit. As seen by the other companies being discussed, a lot of outdoors companies are similarly concerned with the environment but I think Patagonia is a great example of a stakeholder-focused company that still creates a profit for its shareholders.
Video of common threads initiative: http://video.patagonia.com/video/Common-Threads-Initiative-2